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HomeMy WebLinkAbout2001-06-19 Support Documentation Town Council Evening Session VAIL TOWN COUNCIL EVENING MEETING TUESDAY, June 19, 2001 7:00 P.M. TOV COUNCIL CHAMBERS NOTE: Times of items are approximate, subject to change, and cannot be relied upon to determine at what time Council will consider an item. 1 • CITIZEN PARTICIPATION (5 min.) 2• CONSENT AGENDA: Ordinance #2, Exemption Plats, Second Reading Brent Wilson 3. 2000 Audit Presentation. (15 min.) Steve Thompson 4. Bob McLaurin ITEM/TOPIC: Program for the Vail Center(1 1/2 hrs.) John Horan-Kates Brian Sipes ACTION REQUESTED OF COUNCIL: Staff is requesting final direction on the uses the uses and size of those uses that should be further explored by the community and the design team. BACKGROUND RATIONALE: On April 17th the Town Council directed staff to move forward with physical and financial planning on meeting/learning center, 300 seat community theatre, and a recreational facility that would include a 2nd sheet of ice, a skatepark, and a youth center. On May 8th, the Town Council directed staff to evaluate eliminating the 300-seat theatre and to place a theatrical fly on the 20,000 square foot meeting room. On May 22, 2001 the Town Council decided not to have a facilitated meeting but rather to vote on each element of the Vail Center program on June 19th. On June 4th, meeting was held with cultural arts interests in the Vail Valley. In this meeting the following recommendations were made: 1) reserve a foot print for a 1200 seat theatre: 2) create a 200 seat theatre in the conference facility, 3) develop a 10 year cultural arts plan, 4) make the 20,000 square foot space "performance friendly", and 5) alternative A is preferred because it would allow phasing of uses. Further design work has been halted along with planned community meetings on the design and financing. In addition, Vail Resorts has been reviewing the financial viability of Plan A that integrates the community uses with a new parking structure. It is critical to reconfirm the fundamental uses of the facility so that additional design work and community dialogue can occur. On July 24th, the Town Council will need to make a final determination on whether a November election is still viable. 5. Brent Wilson ITEMITOPIC: First reading of Ordinance No. 14, Series of 2001: An Ordinance Rezoning Lot C, Vail Village Second Filing From "Public Accommodation" To "Special Development District No. 36," To Allow For The Construction Of The Vail Plaza Hotel West; And Setting Forth Details In Regard Thereto. (45 min.) Applicant: Doramar Hotels, represented by the Daymer Corporation Planner: Brent Wilson ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny Ordinance No. 14 on first reading. BACKGROUND RATIONALE: This meeting is a follow-up to the Town Council's preliminary review of the proposal on May 15th. Since the previous council review, the issues of traffic circulation, employee storage and traffic counts have been resolved to the satisfaction of staff. The Vail Plaza Hotel West is a mixed-use development proposal. Uses within the hotel include residential, commercial and recreation. The proposed plan currently includes a 116-room hotel, 15 condominiums, 40 fractional fee units, 14 (on site) employee housing units, a restaurant/bar, retail space, conference space (including a 10,000 s.f. ballroom), and a spa/health club. The current (and proposed underlying) zoning for the property is "Public Accommodation." Please refer to the staff memorandum for complete details. RECOMMENDATION: The Design Review Board voted to recommend approval of this application to the Vail Town Council on April 18th. The Planning and Environmental Commission voted to recommend approval (with conditions) of this application to the Vail Town Council on May 14th`. The Department of Community Development recommends the Vail Town Council approve Ordinance No. 14 on first reading.. 6. Ordinance #12, Curfew and Special Events, Second Reading Greg Morrison (10 min.) 7. Ordinance #13, Open Containers, Second Reading, Greg Morrison (10 min.) 8. Town Manager's Report. (5 min.) Bob McLaurin 9. Adjournment (10:05 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, 6126101, A NEIGHBORHOOD WALK-ABOUT/PICNIC AT BOOTH FALLS PARK BEGINNING AT 12:00 P.M. WORK SESSION AT 2:00 P.M. IN TOV COUNCIL CHAMBERS. THE NEXT VAIL TOWN COUNCIL REGULAR WORK SESSION WILL BE ON TUESDAY, 7110/01, BEGINNING AT 2:00 P.M., IN TOV COUNCIL CHAMBERS. THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING WILL BE ON TUESDAY, 7/10101, 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. ORDINANCE NO. 2 SERIES OF 2001 AN ORDINANCE AMENDING THE TOWN OF VAIL SUBDIVISION REGULATIONS (TITLE 13, VAIL TOWN CODE) BY CREATING A NEW CHAPTER (CHAPTER 12) TO ALLOW FOR THE CREATION OF "EXEMPTION PLAT REVIEW PROCEDURES"; A NEW CHAPTER (CHAPTER 13) TO ALLOW FOR "ADMINISTRATIVE PLAT CORRECTION PROCEDURES"; NEW PLAT TITLE FORMAT SAMPLE CERTIFICATES; NEW TEXT DEFINITIONS; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town of Vail has been regulating the subdivision of land under statutory and home rule authority since 1970; and WHEREAS, the Town of Vail wishes to provide reasonable and efficient development review and subdivision review services to the public; and WHEREAS, The Planning and Environmental Commission of the Town of Vail has recommended approval of these amendments at its January 8, 2001 meeting, and has submitted its recommendation to the Vail Town Council; and WHEREAS, the Vail Town Council considers it in the interest of the public health, safety, and welfare to adopt these amendments to the Subdivision Regulations. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. A new Chapter 12 is added to Title 13, Vail Town Code to read as follows: CHAPTER 12 EXEMPTION PLAT REVIEW PROCEDURES SECTION: 13-12-1: Purpose and Intent 13-12-2: Exemptions In Procedure And Submittals 13-12-3: Plat Procedure and Criteria for Review 13-12-4: Filing And Recording 13-12-1: PURPOSE AND INTENT: The purpose of this chapter is to establish criteria and an appropriate review process whereby the Planning and Environmental Commission may grant exemptions from the definition of the term "subdivision" for properties that are determined to fall outside the purpose, purview and intent of Chapters 13-3 and 13-4 of this title. This process is intended to allow for the platting of property where no additional parcels are created and conformance with applicable provisions of the Vail Town Code has been demonstrated. 13-12-2: EXEMPTIONS IN PROCEDURE AND SUBMITTALS: "Exemption Plats," as defined in Section 13-2-2 of this Title, shall be exempt from requirements related to preliminary plan procedures and submittals. Exemption plat applicants may be required to submit an environmental impact report if required by Title 12, Chapter 12 of this Code. 13-12-3: PLAT PROCEDURE AND CRITERIA FOR REVIEW: The procedure for an exemption plat review shall be as follows: A. Submission Of Proposal; Waiver Of Requirements: The applicant shall submit two (2) copies of the proposal following the requirements for a final plat in subsection 13-3-6(B) of this Title, with the provision that certain of these requirements may be waived by the Administrator and/or the Planning and Environmental Commission if determined not applicable to the project. -1- B. Public Hearing: The Administrator will schedule a public hearing before the Planning and Environmental Commission and follow notification requirements for adjacent property owners and public notice for the hearing as found in subsection 13-3-6(B)(1) of this Title. C. Review And Action On Plat: The Planning and Environmental Commission shall review the plat and associated materials and shall approve, approve with modifications or disapprove the plat within twenty one (21) days of the first public hearing on the exemption plat application or the exemption plat application will be deemed approved. A longer time period for rendering a decision may be granted subject to mutual agreement between the Planning and Environmental Commission and the applicant. The criteria for reviewing the plat shall be as contained in Section 13-3-4 of this Title. D. Appeal: An appeal of the Planning and Environmental Commission's decision by the Town Council, the applicant, or an "aggrieved or adversely affected person" shall follow the procedures outlined in Section 13-3-5(C) of this Title. 13-12-4: FILING AND RECORDING: The Department of Community Development will record the plat and any related documents with the Eagle County Clerk and Recorder; however, no plat shall be recorded unless prior to the time of recording, the applicant provides the Town with a certification from the Eagle County Treasurer's office indicating that all ad valorem taxes applicable to such subdivided land, for years prior to that year in which approval is granted, have been paid. Fees for recording shall be paid by the applicant. The Department of Community Development will retain one mylar copy of the plat for their records. An exemption plat may not be recorded until applicable appeals periods have expired in accordance with the provisions of Section 13-3-5(C) of this Title. Section 2. A new Chapter 13 is added to Title 13, Vail Town Code to read as follows: CHAPTER 13 ADMINISTRATIVE PLAT CORRECTION PROCEDURES SECTION: 13-13-1: Purpose and Intent 13-13-2: Consultation Required; Preliminary Review 13-13-3: Plat Procedure and Criteria for Review 13-13-4: Filing And Recording 13-13-1: PURPOSE AND INTENT: The purpose of this chapter is to establish criteria and an appropriate review process whereby the Administrator may review corrections to previously approved plats where the character and intent of the original plat is not altered. Examples include address changes, plat note amendments, plat title corrections, easement vacations, and other minor corrections. This process is intended to allow for the correction of plat errors and minor plat amendments where no "subdivision" occurs and conformance with applicable provisions of the Vail Town Code has been demonstrated. 13-13-2: CONSULTATION REQUIRED; PRELIMINARY REVIEW: Prior to the submittal of a plat correction request, the applicant shall meet with the Administrator to determine if the request is consistent with the correction plat criteria outlined in Section 13- 13-3 of this Chapter. If the Administrator determines the subject application would circumvent significant and relevant elements of the subdivision review process and/or the character and intent of the originally approved plat, the application shall be reviewed pursuant to the "Subdivision" or "Exemption Plat" review processes outlined in this Title. 13-13-3: PLAT PROCEDURE AND CRITERIA FOR REVIEW: A. Plat Procedure: Upon receiving two (2) copies of a complete submittal along with payment of the appropriate fee, the Administrator shall route one copy of the proposed plat to the Town Engineer for his/her review. The Administrator shall then conduct his/her review concurrently. The Town Engineer shall review the submittal and return comments and notifications to the Administrator who shall transmit the approval, disapproval or approval with modifications of the plat within fourteen (14) days to the applicant. The Administrator shall sign the plat if approved or require modifications on the plat for approval or deny approval due to inconsistencies with the originally approved plat or failure to make other required modifications on the plat. Plat format and content -2- shall be as outlined under Section 13-3-6 of this Title. Correction plats must contain the following statement: The sole purpose of this plat is to correct an error (or amend a plat note or an easement) filed with an approved plat. This plat correction does not alter the character, intent or development standards imposed under previous plat approvals. B. Criteria for Review: A plat correction or minor plat amendment may be approved upon the findings that: 1) The plat correction is in accordance with all applicable town ordinances, standards, and the original conditions of plat approval; 2) Nonconformities are not created. In the case of pre-existing nonconforming lots, the nonconformity is not increased with the approval of the correction plat; 3) The approval will not adversely affect the public health, safety, and welfare. 4) Provisions for adequate access and infrastructure have been demonstrated by the applicant and are indicated on the proposed correction plat. 13-13-4: FILING AND RECORDING: The Department of Community Development will record the plat and any related covenants with the Eagle County Clerk and Recorder; however, no plat for subdivided land shall be recorded unless prior to the time of recording, the subdivider provides the Town with a certification from the Eagle County Treasurer's office indicating that all ad valorem taxes applicable to such subdivided land, for years prior to that year in which approval is granted, have been paid. Fees for recording shall be paid by the applicant. The Department of Community Development will retain one mylar copy of the plat for their records. A correction plat may not be recorded until applicable appeals periods have expired in accordance with the provisions of Section 13-3-5(C) of this Title. Section 3. Section 13-11-1, Vail Town Code, is hereby amended to read as follows: (Added text is shown in bold type; deleted text is -&x~) 13-11-1: PLAT TITLE FORMATS: The Title Format as required on all plats is as follows: Type of Plat SUBDIVISION NAME, FILING OR PHASE NUMBER LOT, BLOCK, TRACT Town of Vail, County of Eagle, State of Colorado The type of plat should appear first in the Title; Final or Amended Final, Single-Family, Duplex, Condominium Plat. The font size should be small. The main title is the next line or lines of the title and will be in a large font. The main title is in two parts: the first part will have the name of the subdivision, townhome(s) or condominiums(s); the second part of the main title is the lot, block and tract information as shown in the order above. Plats of existing platted parcels require the Lot, Block and/or Tract information; on original plats the Lot, Block and Tract information are omitted from the title. When resubdivisions occur, the first part of the main title is identical to the parent subdivision and the second part identifying the replatted parcel(s), except when the intent of the plat is to create a new and separate subdivision, townhome or condominium with a new name. The sub-title comes after the main title, and it contains the Section, Township, Range and/or County and State information. The font size should be smaller than that of the main title. The Certificate of Dedication and Ownership, as well as the Surveyor's certificate should match the above formatted main title. The following are examples for each type of plat and the exact format for each: -3- Minor Subdivision Final Plat Meadow Mauriello Subdivision A Resubdivision of Lot 32 Town of Vail, County of Eagle, State of Colorado Condominium Plat Condominium Plat Connelly Bridge Condominiums Vail Village, First Filing Lot c, Lot d and the south four feet of Lot b, Block 5-B Town of Vail, County of Eagle, State of Colorado Townhouse Plat Townhouse Plat Mollica Mountain Townhomes Vail Potato Patch A Resubdivision of Parcel A, Lot 34, Block 1 Town of Vail, County of Eagle, State of Colorado Amended Final Plat/Sinale Familv Subdivision Amended Final Plat Glen Lyon Subdivision, 2nd Amendment to the 1 st Filing Lot 15, Block 2 Town of Vail, County of Eagle, State of Colorado Duolex Plat Duplex Plat Ruther Ridge Estates Subdivision, Filing No. 1 A Resubdivision of Lot 29, Block 1 Town of Vail, County of Eagle, State of Colorado Final Plat Final Plat Curnutte Creek Gulch Subdivision Filing No. 1 Town of Vail, County of Eagle, State of Colorado -a- Exemption Plat Wilson Willows Exemption Plat A portion of the SW 1/a of the SW 1/4 of Section 9, Township 5 South, Range 80 West of the 6th P.M. Town of Vail, County of Eagle, State of Colorado Correction Plat Corrected Final Plat Ochs Orchards Subdivision Filing No. 1 Town of Vail, County of Eagle, State of Colorado Section 4. The following definitions are added to Section 13-2-2 ("Definitions"): (added text is shown in bold type) ADMINISTRATOR: The Administrator of the Department of Community Development or his/her designee. AGGRIEVED OR ADVERSELY AFFECTED PERSON: Any person who will suffer an adverse effect to an interest protected or furthered by this Title. The alleged adverse interest may be shared in common with other members of the community at large, but shall exceed in degree the general interest in community good shared by all persons. CORRECTION PLAT: "Correction Plat" means corrections to previously approved plats where the character and intent of the original plat is not altered. Examples include address changes, plat note amendments, plat title corrections, easement vacations, and other minor corrections. EXEMPTION PLAT: "Exemption Plat" means the platting of a portion of land or property that does not fall within the definition of a "subdivision," as contained in Section 13-2-2 of this Chapter. Section 5. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 6. The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. -5- Section 7. The amendment of any provision of the Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 8. 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 ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 5'h day of June, 2001 and a public hearing for second reading of this Ordinance set for the 19'h day of June, 2001, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Ludwig Kurz, Mayor Attest: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 19'h day of June, 2001. Ludwig Kurz, Mayor Attest: Lorelei Donaldson, Town Clerk -6- ' TOWN OF VAIL 1 ' Financial Statements ' For the Fiscal Year Ended December 31, 2000 1 1 ' TOWN OF VAIL 1 ' Financial Statements ' For the Fiscal Year Ended December 31, 2000 1 1 1 1 Town of Vail, Colorado ' Financial Report December 31, 2000 TABLE OF CONTENTS ' Pase FINANCIAL SECTION: t l Independent Auditor's Report General-Purpose Financial Statements: , Combined Balance Sheet - All Fund Types and ' Account Groups Al -A2 Combined Statement of Revenues, Expenditures, , and Changes in Fund Balances - All Governmental Fund Types A 3 ' Combined Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - ' General, Special Revenue and Debt Service Funds A 4 Combined Statement of Revenues, Expenses, and Changes ' in Fund Equity - All Proprietary Fund Types and Similar Trust Funds A 5 Combined Statement of Cash Flows - All Proprietary Fund Types A 6 Notes to the Financial Statements BI - B23 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS: , General Fund: Statement of Revenues - Budget (GAAP Basis) and ' Actual C 1 - ' Statement of Expenditures Budget (GAAP Basis) and Actual C 2 i Town of Vail, Colorado Financial Report December 31, 2000 ' TABLE OF CONTENTS (Continued) ' Pase ' COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONTINUED) Special Revenue Funds: Combining Balance Sheet C 3 ' Combining Statement of Revenues, Expenditures, and Changes in Fund Balances C 4 ' Capital Projects Fund - Schedule of Revenues, Expenditures, and Transfers - Budget (GAAP Basis) and Actual C 5 ' Capital Projects Fund - Schedule of Project Expenditures - Budget and Actual Comparison C 6 ' Real Estate Transfer Tax Fund - Schedule of Revenues and Expenditures and Transfers - Budget (GAAP ' Basis) and Actual C 7 Real Estate Transfer Tax Fund - Schedule of ' Project Expenditures - Budget and Actual Comparison C 8 ' Vail Marketing Fund - Statement of Revenues and Expenditures - Budget (GAAP Basis) and Actual C 9 ' Debt Service Fund: Comparative Balance Sheet CIO t Comparative Statement of Revenues, Expenditures, and Changes in Fund Balances C 1 l ' Statement of Revenues and Expenditures - Budget (GAAP Basis) And Actual C12 ' ii Town of Vail, Colorado ' Financial Report December 31, 2000 ' TABLE OF CONTENTS (Continued) ' Paee ' COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONTINUED) Proprietary Fund Types: ' Internal Service Funds: ' Sheet C13 Combining Balance Combining Statement of Revenues, Expenses and ' Changes in Retained Earnings C14 ' Combining Statement of Cash Flows C15 Heavy Equipment Fund - Schedule of Revenues and ' Expenses - Budget (Non-GAAP Basis) and Actual with a Reconciliation to GAAP Basis C16 Health Insurance Fund - Schedule of Revenues and ' Expenses - Budget (GAAP Basis) and Actual C17 Dispatch Services Fund - Schedule of Revenues and Expenses - Budget (Non-GAAP Basis) and Actual with a ' Reconciliation to GAAP Basis C18 Fiduciary Fund Types: ' Expendable Trust Funds: ' Combining Balance Sheet C19 Combining Statement of Revenues, Expenses, , and Changes in Fund Balances C20 iii ' Town of Vail Colorado Financial Report December 31, 2000 TABLE OF CONTENTS (Continued) Page COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS (CONTINUED) Fiduciary Fund Types (continued): ' Expendable Trust Funds (continued): Pension Trust Fund - Comparative Statement of Revenues, Expenses and Changes in Fund Balances C21 ' Deferred Compensation Plan Fund - Comparative Statement of Revenues, Expenses, and Changes in Fund Balances C22 SUPPLEMENTARY INFORMATION: ' Groups of Accounts: ' Schedule of General Fixed Assets by Function C23 Comparative Schedule of General Long-Term Debt C24 Other Schedules: Debt Service - Schedule of Bond Principal and Interest Requirements in Future Years - General Obligation Refunding Bonds Series 1992A C25 Debt Service - Schedule of Bond Principal and Interest Requirements in Future Years - Sales Tax Revenue Refunding and Improvement Bonds Series 1992B C26 Debt Service - Schedule of Bond Principal and Interest Requirements in Future Years - Tax Exempt Sales Tax Revenue Bonds Series 1998A C27 ' iv Town of Vail, Colorado ' Financial Report December 31, 2000 TABLE OF CONTENTS (Continued) Pase Other Schedules (continued): i Debt Service -Schedule of Bond Principal and Interest Requirements in Future Years - Taxable Sales Tax Revenue Bonds Series 1998B C28 Local Highway Finance Report C29 - C30 UNDERTAKING TO PROVIDE CONTINUING DISCLOSURE: Table I - Debt Service Coverage D 1 Table III - History of Town 4% Sales Tax Receipts D 1 Table IV - Monthly Comparison of Collections of Sales Tax D 1 ' Table V - Sales Tax Collections by Principal Sales Tax Generators D 2 ' Table VI - Capital Projects Fund 2000 Actual/Projected 2001-2004 D 2 Table XIX - History of General Fund Revenues, Expenditures, and Changes in Fund Balances D 3 Table XX - General Fund 1999 and 2000 Budget Summary and Comparison D 4 ' Table XXI - Outstanding Revenue Obligations D 4 ' r v MCMAHAN AND ASSOCIATES, L.L.C. Certified Public Accountants and Consultants WEBSITE: WWW.MCMAHANCPA.COM SUITE 222/AVON CENTER TELEPHONE: (970) 845-8800 1 00 WEST BEAVER CREEK BLVD. FACSIMILE: (970) 845-085 1 P.O. BOX 5850 AVON, CO 81620 E-MAIL: MCMAHAN@MCMAHANCPA.COM INDEPENDENT AUDITOR'S REPORT To the Mayor and Members of Town Council Town of Vail ' Vail, Colorado We have audited the accompanying general-purpose financial statements of the Town of Vail, Colorado, and the combining, individual fund and account group financial statements of the Town of Vail, Colorado as of and for the year ended December 31, 2000, as listed in the table of contents. These financial statements are the responsibility of the Town's management. Our responsibility is to express an opinion on these general-purpose ' financial statements based on our audit. We conducted our audit in accordance with U.S. generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and ' significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. ' In our opinion, the general-purpose financial statements referred to above present fairly, in all material respects, the financial position of the Town of Vail, Colorado as of December 31, 2000, and the results of its operations and its cash flows of its proprietary fund types for the year then ended, in conformity with U.S. generally ' accepted accounting principles. Also, in our opinion, the combining, individual fund, and account group financial statements referred to above present fairly, in all material respects, the financial position of each of the individual funds and account groups of the Town of Vail, Colorado at December 31, 2000 and the results of ' operations of such funds and cash flows of its individual proprietary funds for the year then ended, in conformity with U.S. generally accepted accounting principles. Our audit was performed for the purpose of forming an opinion on the general-purpose financial statements ' taken as a whole. The accompanying financial information presented as supplemental information found on pages C-23 through C-28 are presented for purposes of additional analysis and are not a required part of the general-purpose financial statements of the Town of Vail, Colorado. Such information has been subjected to ' the auditing procedures applied in the audit of the general-purpose, combining and individual fund and account group financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements of each of the respective individual funds and account groups taken as a whole. The tables included for the undertaking to provide continuing disclosures found on pages D-1 through D4 have not been audited by us, and accordingly, we do not express an opinion thereon. 16j", PLC 1 McMahan and Associates, L.L.C. March 29, 2001 Performing services for local governments throughout Colorado D. Jerry McMahan, C.P.A. Daniel R. Cudahy, C.P.A. Paul J. Backes, C.P.A. Michael N. Jenkins, C.A., C.P.A. Members: American Institute of Certified Public Accountants/Colorado Society of Certified Public Accountants ' National and Colorado Government Finance Officers Association/Colorado Municipal League 1 General Purpose Financial Statements 1 ' The basic financial statements provide a summary overview of the financial position of all funds and account groups and operating results of all funds. They also serve as an introduction to the more detailed statements and schedules that follow. Town of Vail, Colorado Combined Balance Sheet All Fund Types and Account Groups December 31, 2000 (With Comparative Totals For 1999) Proprietary Fiduciary Governmental Fund Types Fund Type Fund Type Account Groups Total (Memo Only) General General Reporting Entity Special Debt Internal Trust & Fixed Long Term Primary Component General Revenue Service Service Agency Assets Debt Government Unit 2000 1999 Assets Cash 8,800 8,800 42,600 51,400 50,273 Equity in pooled cash and investments 4,853,043 14,709,385 171,465 1,734,784 21,468,677 21,468,677 18,774,072 Investments - employee's retirement plan 30,987,014 30,987,014 30,987,014 32,671,376 Receivables: Taxes and fees 663,015 2,179,812 2,842,827 283,320 3,126,147 2,694,183 Other governments 43,874 1,080,823 1,124,697 1,124,697 1,082,226 Special assessments 24,228 24,228 24,228 70,332 Property taxes assessed 2,415,229 2,415,229 2,415,229 2,088,413 Other, net of allowance for uncollectible accounts 193,421 248,610 192,609 634,640 43,139 677,779 140,794 Loans to participants 317,290 317,290 317,290 360,130 168,970 168,970 168,970 173,852 Inventory Prepaid expenses 285,545 146,874 432,419 63,202 495,621 386,427 Property, plant and equipment, net 2,434,928 72,473,829 74,908,757 74,908,757 57,126,031 Amount to be provided for payment of general long term debt 21,325,766 21,325,766 21,325,766 22,574,218 Amount available in debt service funds 170,352 170,352 170,352 163,731 Total Assets 8,487,155 18,218,630 171,465 4,678,165 31,304,304 72,473,829 21,496,118 156,829,666 432,261 157,261,927 138,356,058 The accompanying notes are an integral part of these financial statements. ra~r r r r r r r rr rr r~ rr r~ r~ r~ rr rr r r Al Town of Vail, Colorado Combined Balance Sheet All Fund Types and Account Groups December 31, 2000 (With Comparative Totals for 1999) Proprietary Fiduciary Governmental Fund Types Fund Type Fund Type Account Groups Total (Memo Only) General General Reporting Entity Special Debt Internal Trust & Fixed Long Term Primary Component General Revenue Service Service Agency Assets Debt Government Unit 2000 1999 Liabilities Deficit in pooled cash and investments 13,587 Accounts/voucherspayable 288,929 707,687 1,113 261,749 1,259,478 76,867 1,336,345 945,554 Accrued wages and benefits 486,338 6,329 137,079 629,746 629,746 581,903 Retainage payable 64,594 64,594 64,594 186,085 Deferred revenue 215,579 1,024,681 1,240,260 1,240,260 1,258,154 Deferred revenue - , . , -y taxes assessed not collectible until subsequent years 2,415,229 2,415,229 2,415,229 2,088,413 Deposits payable 356,771 356,771 356,771 305,944 Leases payable 418,073 418,073 418,073 548,615 General obligation bonds payable 5,200,000 5,200,000 5,200,000 6,000,000 Sales tax revenue bonds payable 15,300,000 15,300,000 15,300,000 15,675,000 Accrued vacation payable 578,045 578,045 578,045 514,334 Total Liabilities 3,762,846 1,803,291 1,113 398,828 21,496,118 27,462,196 76,867 27,539,063 28,117,589 Fund Equity Contributed capital 1,549,625 1,549,625 1,549,625 16,942,315 Investment in general fixed assets 72,473,829 72,473,829 72,473,829 45,573,729 Retained earnings: Reserved for health insurance 352,396 352,396 352,396 742,078 Reserved for subsequent years' expenditures 336,772 336,772 336,772 67,924 Unreserved (deficit) 2,040,544 2,040,544 2,040,544 (3,599,451) Fund balances: Reserved for Symposium 10,992 10,992 10,992 10,992 Reserved for employees' retirement plan 31,304,304 31,304,304 31,304,304 33,008,378 Reserved for retirement of bonded debt 170,352 170,352 170,352 163,731 Reserved for prepaid expenses 285,545 285,545 63,202 348,747 255,885 Reserved for emergencies 990,000 990,000 56,000 1,046,000 906,500 Designated for housing loan program 200,000 200,000 200,000 200,000 Designated for Police seizures 46,617 46,617 46,617 Designated for subsequent years' expenditures 7,259,237 7,259,237 236,192 7,495,429 68,979 Undesignated 3,191,155 9,156,102 12,347,257 12,347,257 15,897,409 Total Fund Equity 4,724,309 16,415,339 170,352 4,279,337 31,304,304 72,473,829 129,367,470 355,394 129,722,864 110,238,469 Total Liabilities and Fund Equity 8,487,155 18,218,630 171,465 4,678,165 31,304,304 72,473,829 21,496,118 156,829,666 432,261 157,261,927 138,356,058 The accompanying notes are an integral part of these financial statements. A2 Town of Vail Combined Statement of Revenues, Expenditures, and Changes in Fund Balances All Governmental Fund Types For the Year Ended December 31, 2000 ' (With Comparative Totals for 1999) Governmental Fund Types Total (Memo Only) Primary Reporting Entity Special Debt Government Component General Revenue Service 2000 Unit 2000 1999 Revenues: ' Taxes 13,571,359 10,126,675 23,698,034 1,532,584 25,230,618 21,837,076 Licenses and permits 695,711 385,216 1,080,927 310,043 1,390,970 958,169 Intergovernmental revenues 1,376,493 71,348 1,447,841 1,447,841 3,710,075 Charges for services 2,217,293 2,217,293 2,217,293 1,414,582 Fines and forfeits 279,367 279,367 279,367 247,994 Interest 391,781 1,031,447 39,546 1,462,774 4,964 1,467,738 648,775 ' Rents 427,329 245,617 672,946 672,946 502,750 Miscellaneous revenues 161,024 2,830,018 2,991,042 4,964 2,996,006 1,555,878 Total Revenues 19,120,357 14,690,321 39,546 33,850,224 1,852,555 35,702,779 30,875,299 Expenditures: Operating: General government 4,342,608 931,809 5,274,417 5,274,417 4,942,664 Public safety 4,933,470 4,933,470 4,933,470 4,614,427 Public works and transportation 7,156,067 7,156,067 7,156,067 4,564,004 Economic development and community asistance 900,001 900,001 1,497,161 2,397,162 2,642,879 , Public library 716,577 716,577 716,577 661,636 Capital projects 9,479,094 9,479,094 9,479,094 6,318,692 Debt service: Principal retirement 1,175,000 1,175,000 1,175,000 2,290,268 , Interest and fiscal charges 1,146,431 1,146,431 1,146,431 1,288,661 Total Expenditures 18,048,723 10,410,903 2,321,431 30,781,057 1,497,161 32,278,218 27,323,231 Excess of Revenues Over (Under) ' Expenditures 1,071,634 4,279,418 (2,281,885) 3,069,167 355,394 3,424,561 3,552,068 Other Financing Sources (Uses): ' Operating transfers in 2,288,506 2,288,506 2,288,506 3,075,828 Operating transfers (out) (2,288,506) (2,288,506) (2,288,506) (3,276,430) Sale of assets 2,038,736 , Debt reduction from ECRA 750,000 Capital leases 10,665 Total Financing Sources (Uses) (2,288,506) 2,288,506 2,598,799 Excess of Revenues Over (Under) Expenditures and Other Sources (Uses) 1,071,634 1,990,912 6,621 3,069,167 355,394 3,424,561 6,150,867 Fund Balances - January 1 3,652,554 13,687,211 163,731 17,503,496 17,503,496 11,362,629 ' Residual equity transfers 121 737,216 737,337 737,337 Decrease in Alpine Gardens reserve (10,000) , Fund Balances - December 31 4,724,309 16,415,339 170,352 21,310,000 355,394 21,665,394 17,503,496 - t The accompanying notes are an integral part of these financial statements. A3 Town of Vail, Colorado Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General, Special Revenue and Debt Service Funds For the Year Ended December 31, 2000 General Fund Special Revenue Funds Debt Service Fund (GAAP Basis) (GAAP Basis) (GAAP Basis) Variance Variance Variance Amended Favorable Amended Favorable Amended Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes 13,343,012 13,571,359 228,347 9,359,000 10,126,675 767,675 Licenses and permits 710,377 695,711 (14,666) 340,000 385,216 45,216 Intergovernmental revenues 1,405,526 1,376,493 (29,033) 108,500 71,348 (37,152) Charges for services 1,975,214 2,217,293 242,079 Fines and forfeits 300,199 279,367 (20,832) Interest earnings 275,000 391,781 116,781 340,000 1,031,447 691,447 20,000 39,546 19,546 Rents 420,258 427,329 7,071 259,062 245,617 (13,445) Miscellaneous revenues 85,644 161,024 75,380 3,921,090 2,830,018 (1,091,072) Total Revenues 18,515,230 19,120,357 605,127 14,327,652 14,690,321 362,669 20,000 39,546 19,546 Expenditures: Operating: General government 4,535,885 4,342,608 193,277 1,001,179 931,809 69,370 Public safety 5,279,535 4,933,470 346,065 Public works and transportation 7,324,766 7,156,067 168,699 Economic development and community assistance 940,930 900,001 40,929 Public library 729,048 716,577 12,471 Capital projects 19,386,073 9,479,094 9,906,979 Debt service: Principal retirement 1,175,000 1,175,000 Interest and fiscal charges 1,156,373 1,146,431 9,942 Total Expenditures 18,810,164 18,048,723 761,441 20,387,252 10,410,903 9,976,349 2,331,373 2,321,431 9,942 Excess of Revenues Over (Under) Expenditures (294,934) 1,071,634 1,366,568 (6,059,600) 4,279,418 10,339,018 (2,311,373) (2,281,885) 29,488 Other Financing Sources (Uses): Proceeds from capital leases 5,000,000 (5,000,000) Operating transfers in 2,290,265 2,288,506 (1,759) Operating transfers (out) (2,290,265) (2,288,506) 1,759 Total Other Financing Sources (Uses) 2,709,735 (2,288,506) (4,998,241) 2,290,265 2,288,506 (1,759) Excess of Revenues Over (Under) Expenditures and Other Sources (Uses) (294,934) 1,071,634 1,366,568 (3,349,865) 1,990,912 5,340,777 (21,108) 6,621 27,729 Fund Balances - January 1 3,652,554 3,652,554 13,687,211 13,687,211 163,731 163,731 Residual Equity Transfers 121 121 737,216 737,216 Fund Balances - December 31 3,357,620 4,724,309 1,366,689 10,337,346 16,415,339 6,077,993 142,623 170,352 27,729 The accompanying notes are an integral part of these financial statements. A4 Town of Vail, Colorado Combined Statement of Revenues, Expenses, and Changes ' in Fund Equity - All Proprietary Fund Types and Similar Trust Funds For the Year Ended December 31, 2000 (With Comparative Totals for 1999) ' Proprietary Fiduciary Fund Types Fund Type Total Internal Enterprise Service Trust Fund Funds Funds 2000 1999 ' Operating Revenues: Intergovernmental revenues 211,379 211,379 154,976 Charges for services 3,818,122 3,818,122 6,670,429 ' Insurance reimbursements 81,881 81,881 28,433 Other 935 935 20,473 Net gain (loss) on plan investments (2,083,206) (2,083,206) 2,591,148 Contributions 1,901,074 1,901,074 1,825,504 Total Operating Revenues 4,112,317 (182,132) 3,930,185 11,290,963 Operating Expenses: Administrative 85,741 85,741 129,874 Operations 2,432,348 3,584,029 6,016,377 5,464,400 ' Depreciation 594,538 594,538 1,479,510 Claims, premiums, and dividends 1,533,962 1,533,962 3,176,424 Total Operating Expenses 4,560,848 3,669,770 8,230,618 10,250,208 ' Operating Income (Loss) (448,531) (3,851,902) (4,300,433) 1,040,755 Non-Operating Revenues (Expenses): , Investment income 131,711 2,147,828 2,279,539 1,474,565 Operating transfers in 200,602 Gain on disposition of equipment 314,875 314,875 495,680 ' Total Non-Operating Revenues (Expenses) 446,586 2,147,828 2,594,414 2,170,847 Net Income (Loss) (1,945) (1,704,074) (1,706,019) 3,211,602 Retained Earnings (Deficit)/ Fund Balances - January 1 (5,856,571) 3,067,122 33,008,378 30,218,929 27,007,327 Residual Equity Transfers 5,856,571 (335,465) 5,521,106 Retained Earnings/ , Fund Balances - December 31 2,729,712 31,304,304 34,034,016 30,218,929 The accompanying notes are an integral part of these financial statements. A5 ' ' Town of Vail, Colorado Combined Statement of Cash Flows All Proprietary Fund Types For the Year Ended December 31, 2000 (With Comparative Totals for 1999) t Total 2000 1999 Cash Flows From Operating Activities: Cash from other funds 3,108,593 4,520,402 ' Other receipts of cash 844,714 803,246 Cash paid for goods and services (2,698,397) (2,838,085) Cash paid to employees (1,287,075) (2,356,954) Net Cash Provided (Used) by Operating Activities (32,165) 128,609 ' Cash Flows from Noncapital Financing Activities: Cash (to) from other funds (508,976) 412,333 Net Cash Provided (Used) by Noncapital Financing Activities (508,976) 412,333 Cash Flows From Capital and Related Financing Activities: Sale of fixed assets 82,568 88,612 Purchase of fixed assets (398,816) (319,897) Net Cash (Used) by Capital and Related Financing Activities (316,248) (231,285) Cash Flows From Investing Activities: ' Interest received 131,711 99,593 Net Cash Provided by Investing Activities 131,711 99,593 ' Net Increase (Decrease) in Cash and Cash Equivalents (725,678) 409,250 Cash and Cash Equivalents at Beginning of Year 2,460,462 2,051,212 ' Cash and Cash Equivalents at End of Year 1,734,784 2,460,462 Reconciliation of Operating (Loss) to Net Cash Provided by Operating Activities: Operating (Loss) (448,531) (562,905) Adjustments: Depreciation 594,538 562,320 (Increase) decrease in accounts receivable (157,342) (32,558) ' (Increase) decrease in inventory 4,882 (8,702) (Increase) decrease in prepaid expenses (48,277) (51,702) Increase (decrease) in accounts payable 18,317 140,938 Increase in deferred revenue (1,667) 1,667 Increase (decrease) in accrued wages and benefits 5,915 79,551 Total Adjustments 416,366 691,514 Net Cash Provided (Used) by Operating Activities (32,165) 128,609 Schedule of Non-Cash Investing Activities ' Acquisition of equipment contributed by another fund _ 197,484 - 297,321 = ' The accompanying notes are an integral part of these financial statements. A6 Town of Vail, Colorado , Notes to the Financial Statements December 31, 2000 1. Summary of Significant Accounting Policies The financial statements of the Town of Vail, Colorado (the "Town") have been prepared in conformity with generally accepted accounting principles ("GAAP") as applied to government units. The Governmental Accounting Standards Board ("GASB") is the accepted standard-setting body for ' establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. A. Reporting Entity ' The Town was incorporated in 1972, under the provisions of Article XX of the Colorado Constitution and Municipal Home Rule Act of 1971. The Town operates under a Council-Manager form of government. As required by GAAP, the financial statements of the reporting entity include those of the Town (as the primary government) and its component units. The component unit discussed below ' is included in the Town's reporting entity because of the significance of its operational or financial relationships with the Town. Discretely Presented Component Unit ' The component unit column consists of the Town's component unit, the Vail Local Marketing District (the "District"). The financial data is reported in a separate column to emphasize that it is ' legally separate from the Town. Town Council members also act as the District's Board of Directors. The District was authorized on November 2, 1999 by general election that established a 1.4% tax on , lodging within the Town's boundaries beginning on January 1, 2000. Proceeds from the tax are to be used for organization, management, promotion, and marketing of public events, for business recruitment, and for tourism promotion. ' The financial statements of the District can be obtained from the Town's administrative offices. Other Entities ' The Town does not exercise oversight responsibility over any other entity, nor is the Town a component unit of any other governmental entity. ' B. Fund Accounting The Town uses funds and account groups to report on its financial position and the results of its ' operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group, on the other hand, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. Funds are classified into three categories: governmental, proprietary and fiduciary. Each category, in ' turn, is divided into separate "fund types." B1 ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 1. Summary of Significant Accounting Policies (Continued) ' B. Fund Accounting (Continued) Governmental funds are used to account for all or most of a government's general activities, including ' the collection and disbursement of earmarked monies (special revenue funds), and the servicing of general long-term debt (debt service funds). The General Fund is used to account for all activities of the general government not accounted for in another fund. i Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or ' services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the government (internal service funds). Fiduciary funds account for assets held by the government in a trustee capacity or as an agent on ' behalf of others. Trust funds account for assets held by the Town under terms of a formal trust agreement. ' The expendable trust fund is accounted for in essentially the same manner as the governmental fund types, using the same measurement focus and basis of accounting. Expendable trust funds account for assets where both the principal and interest may be spent. The general fixed asset account group is used to account for fixed assets not accounted for in the proprietary or trust funds. The general long-term debt account group is used to account for general ' long-term debt and certain other liabilities that are not specific liabilities of the proprietary or trust funds. The two account groups are not "funds". They are concerned only with the measurement of financial position and not with the results of operations. C. Basis of Accounting The accounting and financial reporting treatment applied to a fund is determined by its measurement ' focus. All governmental funds are accounted for using a current financial resources measurement focus. With this focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing ' sources) and decreases (i.e., expenditures and other financing uses) in net current assets. All proprietary funds, nonexpendable trust funds and pension trust funds are accounted for on a flow ' of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are included on the balance sheet. Fund equity (i.e., net total assets) is segregated into c.,..6.buted capital and retained earning components. Proprietary fund- type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. ' The modified accrual basis of accounting is used by all governmental fund types, expendable trust funds and agency funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The Town ' B2 r Town of Vail, Colorado Notes to the Financial Statements , December 31, 2000 (Continued) 1. Summary of Significant Accounting Policies (Continued) r C. Basis of Accounting (Continued) considers property taxes as available if they are collected within 60 days after year end. A one-year ' availability period is used for revenue recognition for all other governmental fund revenues. Expenditures are recorded when the related fund liability is incurred. Principal and interest on r general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. Those revenues susceptible to accrual are property taxes, sales taxes, franchise taxes, special assessments, licenses, interest revenue and charges for services. Sales taxes are collected by the Town and are recognized as revenue when collected by the vendors. Fines and permits revenues are not susceptible to accrual because generally they are not measurable until received in cash. ' The accrual basis of accounting is utilized by proprietary fund types and nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time , liabilities are incurred. D. Deferred Revenue r The Town reports deferred revenue on its combined balance sheet. Deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the r current period. In subsequent periods, when both revenue recognition criteria are met, or when the Town has a legal claim to the resources, the liability for deferred revenue is removed from the combined balance sheet and revenue is recognized. E. Encumbrances ' Encumbrance accounting, under which purchase orders, contracts, and other commitments for the , expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed by the Town. Encumbrances lapse at fiscal year end. Expenditures are recorded when the related liability is incurred. ' F. Equity in Pooled Cash and Investments Cash and investments include amounts in demand deposits as well as investments. , Investments are stated at market value for all Town investments. r G. Inventory Inventory is valued at lower of cost or market using the first-in, first-out method. Inventory in the ' Internal Service Fund - Heavy Equipment Fund consists of expendable supplies held for consumption. H. Prepaid Items r Payments made to vendors for services that will benefit periods beyond December 31, 2000 are ' recorded as prepaid items. B3 ' ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) ' 1. Summary of Significant Accounting Policies (Continued) 1. Fixed Assets General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in governmental funds, and the related assets are reported in the general fixed assets account group. All purchased fixed assets over ' $5,000 are valued at cost where historical records are available and at an estimated historical cost where no historical records exist. Donated fixed assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized in the governmental funds. Improvements in the proprietary funds are capitalized and depreciated over the remaining useful lives of the related fixed assets, as applicable. Public domain ("infrastructure") general fixed assets consisting of roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems are not capitalized, as these assets are immovable and of value only to the Town. Assets in the general fixed assets account group are not depreciated. Depreciation of buildings, equipment and vehicles in the proprietary fund types is computed using the straight-line method. ' J. Use of Estimates The preparation of financial statements to conformity with generally accepted accounting principles ' requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could ' differ from those estimates. K. Proprietary Funds As required by GASB Statement No. 20, the Town has elected to follow for its proprietary funds, all (1) GASB pronouncements and (2) FASB Statements and Interpretations, APB Opinions, and Accounting Research Bulletins (ARBs) issued on or before November 30, 1989, except those that ' conflict with a GASB pronouncement. L. Interfund Transactions r Quasi-external transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. ' All other interfund transactions, except quasi-external transactions and reimbursements, are reported as transfers. Non-recurring or non-routine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as operating transfers. ' B4 Town of Vail, Colorado Notes to the Financial Statements ' December 31, 2000 (Continued) 1. Summary of Significant Accounting Policies (Continued) M. Compensated Absences ' Vested or accumulated vacation leave that is expected to be liquidated with expendable available ' financial resources is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vacation pay is accrued in proprietary funds and reported as a fund liability. Amounts of vested or accumulated vacation leave that are not expected to be liquidated with expendable available financial resources are reported in the General Long-Term Debt Account Group. No expenditure is ' reported for these amounts. No liability is recorded for non-vesting accumulating rights to receive sick pay benefits. N. Long-Term Obligations ' Long-term debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service funds for payment early in the following year. For other long- term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such ' obligations is reported in the general long-term debt account group. Long-term liabilities expected to be financed from proprietary fund operations are accounted for in those funds. 0. Fund Equity Contributed capital is recorded in proprietary funds that have received capital grants or contributions from developers, customers or other funds. Reserves represent those portions of fund equity not ' appropriable for expenditure or legally segregated for a specific future use. Designated fund balance's represent tentative plans for future use of financial resources. , P. Memorandum Only - Total Columns Total columns on the general-purpose financial statements are captioned "memorandum only" to , indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or changes in financial position in conformity with ' generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Q. Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the government's financial positions and operations. However, comparative data have not been presented in all statements because their inclusion would make certain statements unduly complex and difficult to understand. B5 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 1. Summary of Significant Accounting Policies (Continued) R. Deferred Property Taxes ' All property taxes become due and payable in the year following that in which they are levied, at which time they are recognized as revenues. Property taxes are recorded as receivable and deferred ' revenue in the year they are levied. S. Budgets and Budgetary Accounting An annual budget and appropriation ordinance is adopted by the Town Council in accordance with the Town's Home Rule Charter. ' Budgets are prepared on the basis of GAAP for all funds except the Internal Service Funds - Heavy Equipment Fund and the Dispatch Services Fund. The budgets for these funds have been adopted on a Non-GAAP budget basis and are reconciled to the GAAP basis below. ' Internal Service Funds Heavy Dispatch Equipment Services Fund Fund ' Reconciliation to GAAP Basis: Net income - Budgetary Basis $ 146,056 71,114 Less: Depreciation (504,647) (89,891) Accrued vacation (990) Add: ' Capital outlay 351,871 46,945 Accrued vacation 9,972 t Book value of retired equipment 232,307 Net income - GAAP Basis $ 224.597 38,140 The level of control in the budget at which expenditures exceed appropriations is at the fund level. All appropriations lapse at year end. ' T. Cash and Cash Equivalents The proprietary fund cash and cash equivalents are deemed to consist of cash on hand. The Town has a policy of central cash management for all funds except the Employee's Pension Trust Fund and the Deferred Compensation Plan. t ' B6 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 1. Summary of Significant Accounting Policies (Continued) U. Investment Risk ' The Town's investments, with the exception of the Town of Vail Employee's Pension Trust Fund and the Deferred Compensation Plan investments, are invested primarily in COLOTRUST and , government obligations. The Pension Trust Fund and Deferred Compensation Plan investments are held in U.S. government obligations, commercial stocks and bonds, limited partnerships (the limited partnerships may invest in derivatives), mutual funds and other investments as approved by the , Pension Fund Retirement Boards. The value of the investments fluctuates as market conditions change. GASB Technical Bulletin No. 94-1 defines derivatives as "contracts whose value depends on, or derives from, the value of an underlying asset, reference rate, or index." At December 31, 2000, the Town held the following investments that may be considered derivatives under this definition: % Of Book Market Investment Value Value Pool ' Small Business Association (SBA) Pools $ 279,023 279,023 1.3% Adjustable Rate Mortgages (ARMs) $ 1,152,244 1,152,244 5.4% The Town recognizes that investment risks can result from credit risk, market risk, and legal risk. The Town seeks to minimize these risks by investing in seasoned SBA pools and ARMS that are backed by the U.S. Government. The Town's intent in investing in these instruments is to achieve long-term rates of return with the decreased volatility of fixed rate, short-term instruments. V. Credit Risk ' The receivables of the various funds of the Town are primarily due from other governments. Management believes that the credit risk related to the receivables is minimal. ' B7 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) ' 2. Budgets The Town published its biennial budget for the 1999 _ 2000 budget years in December of 1998. Adjustments were made to the 2000 budget prior to its adoption in December of 1999. ' The Town followed these procedures in establishing the budgetary data reflected in the financial statements. (1) For the 2000 budget, prior to August 25, 1999, the County Assessor was to have sent to the Town a certified assessed valuation of all taxable property within the Town's boundaries. (2) Prior to the end of the 1999 fiscal year, the Town Manager submitted to the Town Council a budget and accompanying message. (3) For the 2000 budget, prior to December 15, 1999, the Town computed and certified to the County Commissioners a rate of levy that derived the necessary property taxes as computed in the proposed budget. (4) After a required publication of "Notice of Proposed Budget", the Town adopted the proposed budget and an appropriating resolution which legally appropriates expenditures for the upcoming year. (5) After adoption of the budget resolution, the Town may make the following changes: (a) supplemental appropriations to the extent of revenues in excess of those estimated in the budget; (b) emergency appropriations; and (c) reduction of appropriations for which originally estimated revenues are insufficient. ' Taxes levied in one year are collected in the succeeding year. Thus taxes certified in 1999 were collected in 2000 and taxes certified in 2000 will be collected in 2001. Taxes are due on January 1 st in the year of collection; however, they may be paid in either one installment (no later than April 30th) or two equal installments (not later than February 28th and June 15th) without interest or penalty. Taxes which are not paid within the prescribed time bear interest at the rate of one percent (1%) per month until paid. Unpaid amounts and the accrued interest thereon become delinquent on June 17th. B8 i 1 Town of Vail, Colorado Notes to the Financial Statements 1 December 31, 2000 (Continued) 1 3. Cash and Investments A. Authorization for Deposits and Investments 1 Pursuant to its charter, the Town has adopted, by ordinance, an investment policy governing the types of institutions and investments with which it may deposit funds and transact business. Under this policy, the Town may invest in federally insured banks, debt obligations of the U.S. Government, its agencies and instrumentalities, governmental mutual funds and pools, and repurchase agreements subject to policy requirements. 1 The Town also accounts for the operations of the employees' pension plans which are administered by select employees acting as trustees who are governed by a trust agreement. The trust agreement gives 1 the trustees considerable latitude with investment alternatives. As a result, all pension investments are considered legal under the trust agreement. B. Deposits and Investments 1 The Town maintains a cash and investment pool in which all funds participate except the Deferred ' Compensation Plan. Each fund's position in this pool is displayed on the combined balance sheet as "Equity in Pooled Cash and Investments." In addition, several of the Town's funds may include investments held separately that are restricted for various purposes. The Colorado Public Deposit Protection Act ("PDPA") requires that all units of local government deposit cash in eligible public depositories; eligibility is determined by state regulators. Amounts on deposit in excess of federal insurance levels must be collateralized. The eligible collateral is determined by PDPA. PDPA allows the institution to create a single collateral pool for all public funds. The pool is to be maintained by another institution or held in trust for all the uninsured public deposits as a group. The market value of the collateral must be at least equal to 102% of the , uninsured deposits. The amount of total bank balance may be classified among the following three categories on the basis of credit risk: (1) Insured or collateralized with securities held by the entity or by its agent or by its agent in the entity's name (2) Collateralized with securities held by the pledging financial institution's trust department or agent in the entity's name (3) Uncollateralized. (This includes any bank balance that is collateralized with securities held by 1 the pledging financial institution, or by its trust department of agent but not in the entity's name.) At December 31, 2000, the Town's cash deposits were entirely insured or collateralized with securities held by the entity's agent as described above. The carrying value of the Town's deposits was $4,350,800. The bank balance of these accounts was $4,767,186 of which $300,000 was covered 1 by FDIC insurance and $4,467,186 was collateralized in institution pools as described above. B9 ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) ' 3. Cash and Investments (Continued) B. Deposits and Investments (Continued) ' At December 31, 2000, the Town had invested $9,568,603 in the Colorado Government Liquid Asset Trust (COLOTRUST), an investment vehicle established for local government entities in Colorado to pool surplus funds. These funds operate similarly to a money market fund and each share is equal in value to $1.00. Investments of these funds consist of U.S. Treasury bills, notes and note strips and repurchase agreements collateralized by U.S. Treasury securities. A designated custodial bank provides safekeeping and depository services in connection with the direct investment withdrawal ' functions. GASB has determined three levels of credit risk that apply to the Town's investments: ' (1) Insured or registered, with securities held by the Town, Employee's Pension Trust Fund or its agent in the Town's or Employees' Pension Trust Fund's name. (2) Uninsured or unregistered, with securities held by the counter party's trust department or ' agent in the Town's or Employee's Pension Trust Fund's name. (3) Uninsured or unregistered, with securities held by the counter party, or by its trust department or agent but not in the Town's or Employee's Pension Trust Fund's name. ' The following is a summary of the Town's investments at amortized cost and market which approximates market, categorized into the aforementioned levels of risk at December 31, 2000. Investments in money market mutual funds are not categorized as described above since such ' investments are not evidenced by specific securities that exist in physical or book form. Cateaorv 2 Carrving Value U.S. Government Securities $ 6.495,443 $ 6.495.443 During the year, the Town invested in certificates of deposit, Treasury bills and notes, government agency securities, COLOTRUST, GNMAs, ARM pools, SBA pools, and money market accounts. The Town's total cash deposits and investments, including those of the Employees' Pension Trust ' Fund and the Deferred Compensation Plan, at December 31, 2000 are as follows: All Brvoyee's ' Other Persian Dekrmd Total Furrds Tnst Fund G,..rw.,ation Total Prinny Reportug A Marker it Market Plan Go%~-.r.,, Urit Entity cash $ 8,800 8,800 42,600 51,400 Money.. :.,.Id=1*awounts 3,404,631 3,404,631 3,404,631 Statutory Got~._,.., pools 9,568,603 9,568,603 9,568,603 Certificates ofDTosit 2,0001000 21000,000 2,0001000 ' US Gau.......obligations 6,495,443 6,495,443 6,495,443 stocks & bad fields 20,105,708 20,105,708 20,105,708 Aney -Lc, rrutual fiends 6,193,802 6,193,802 6,193,80 Lkited,.~-, g ,a 31,049 31,049 31,049 Real estate fund 1,659,390 1,659,390 1,659,390 Deferred Plan 2997.065 2997.065 2997.065 Taal $ 21.471477 27.989.949 2997.065 52464.491 42600 52507.091 ' B10 Town of Vail, Colorado Notes to the Financial Statements ' December 31, 2000 (Continued) 2. Cash and Investments (Continued) B. Deposits and Investments (Continued) The Town's investments in the Deferred Compensation Plan and the Pension Plan are held by the Trustees, and are not categorized because they are not evidenced by specific securities that exist in physical or book form. Financial statement captions at December 31, 2000 are as follows: Primary Component Reporting Government Unit Entity Cash $ 8,800 42,600 51,400 Equity in pooled cash and investments 21,468,677 21,468,677 ' Employees' Retirement Plan investments 30,987,014 30,987.014 Total $ 52,464,491 42,600 52,507,091 4. Receivables - Due from Other Governments Included in the accounts receivable from other governments in the Special Revenue Fund - Capital ' Projects Fund is $1,000,000 due from the State of Colorado Department of Transportation ("CDOT") for funding for the West Vail Interchange Improvements. The money is to be received from CDOT between fiscal years 2001 and 2005. Accordingly, this amount has been recorded as deferred ' revenue, and will be recognized as revenue upon receipt. 5, Fixed Assets A. Changes in General Fixed Assets Account Group January 1, 2000 December 31, (Restated) Additions Retirements 2000 Land $17,896,413 2,549,494 15,346,919 Buildings 38,028,745 3,324,563 41,353,308 Improvements other than buildings 3,932,087 233,970 9,905 4,156,152 Machinery and equipment 11,626,385 609,826 618,761 11,617,450 Total 71,483,630 4,168.359 3,178.160 72,473,829 B11 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) 5. Fixed Assets (Continued) B. Proprietary Fund Type Fixed Assets Summary Internal Service Funds ' Heavy Dispatch Equipment Services Fund Fund Total Buildings $1,350,557 1,350,557 Improvements other than buildings 815,520 23,769 839,289 Equipment 4.009.375 546.294 4.555.669 Subtotal 6,175,452 570,063 6,745,515 ' Less: Accumulated depreciation (3.960-206) (350.381) (4.310.587) Total $ 2.215.246 219.682 2.434.928 ' Depreciation on fixed assets in the proprietary fund types are recorded using the following estimated ' useful lives: Vehicles 5 - 7 years Equipment 5 - 10 years Buildings 25 -30 years The Town's proprietary fund types had the following amounts of fully depreciated assets in use at ' December 31, 2000: Internal Service Fund - Heavy Equipment Fund $637,242 ' Internal Service Fund - Dispatch Services Fund $14,990 6. Operating Leases t The Town is committed under various leases for building and office space and equipment. These leases are considered for accounting purposes to be operating leases, and therefore, the liability and the related assets have not been recorded in these financial statements. ' B12 Town of Vail, Colorado Notes to the Financial Statements ' December 31, 2000 (Continued) 7. General Long-Term Debt - Capital Leases The Town has entered into the following lease purchase agreements to acquire facilities and ' equipment. The leases are all annually cancelable and the following leases have been capitalized. Minimum ' Lease Lease Descrintion Pavments Radio system lease; expires March, 3003; annual payments of $152,372 $457,116 Copy machine lease; expires January 2002; monthly payments of $297 3,861 ' Fax machine lease; expires May 2002; monthly payments of $68 1.148 , Total minimum lease payments $ 462.125 , Minimum annual lease payments are to be made as follows: Year ending December 31, 2001 $ 156,746 Year ending December 31, 2002 153,007 Year ending December 31, 2003 152.372 Total minimum lease payments 462,125 Less: Amount of interest (44.052) Present value of minimum lease payments $ 418.073 8. Long-Term Debt A. 1992A General Obligation Refunding Bonds ' The Town issued $7,500,000 of insured General Obligation Refunding Bonds dated October 1, 1992. The bond proceeds were used to refund 1985 bonds that were subject to redemption at the Town's , option in 1996. The interest rate on the bonds is between 3.00% to 5.8% and is payable on June 1 and December 1, through December 2005. B13 ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 8. Long-Term Debt (Continued) ' A. 1992A General Obligation Refunding Bonds (Continued) ' The bonds are general obligations of the Town, payable from ad valorem property taxes to be levied without limitation as to rate or amount against all taxable property in the Town. Bonds maturing on or before December 1, 2002 are not subject to prior redemption. Bonds maturing on December 1, 2005 are subject to redemption prior to their maturities, at the option of the Town, in whole or in part, in integral multiples of $5,000, from such maturities as are selected by the Town and by lot within a maturity in such manner as the Registrar may determine, on December 1, 2002 or on any date thereafter, at the redemption prices set forth in the table below (expressed as a percentage of the principal amounts so redeemed) plus accrued interest to the redemption date: ' Redemption Dates Redemption Prices ' December 1, 2002 through November 30, 2003 101% December 1, 2003 and thereafter 100 Annual debt service requirements to maturity for the bonds, including $910,300 of interest, is as follows: ' Year Total 2001 1,306,400 ' 2002 1,299,900 2003 1,339,000 2004 1,370,000 2005 795.000 Total $ 6.110.300 ' B. 1992B Sales Tax Revenue Refunding and Improvement Bonds ' The Town issued $15,165,000 of insured Sales Tax Revenue Refunding and Improvement Bonds dated October 1, 1992. The bonds were used for capital projects of $5,700,000, and to refund all outstanding 1989 Sales Tax Revenue Bonds. ' The Town refunded $6,580,000 of the remaining principal due on September 1, 1998 when the 1998 bonds were issued. The interest rate on the bonds is between 3.00% and 6.125% and is payable on June 1 and December 1, through December 1, 2012. The bonds are special limited obligations of the Town payable solely from the Town's existing 4% sales tax and net revenues generated by the Town's parking facilities. The bonds constitute an ' irrevocable lien upon the pledged revenues, in part on a basis subordinated to other obligations of the Town. t B14 Town of Vail, Colorado , Notes to the Financial Statements December 31, 2000 (Continued) 8. Long-Term Debt (Continued) B. 1992B Sales Tax Revenue Refunding and Improvement Bonds (Continued) Bonds maturing on or before June 1, 2002 are not subject to prior redemption. Bonds maturing on or ' after June 1, 2005 are subject to redemption prior to their maturities, at the option of the Town, in whole or in part, in integral multiples of $5,000, from such maturities as are selected by the Town and by lot within a maturity in such manner as the Registrar may determine, on December 1, 2002 or on any date thereafter, at the redemption prices set forth in the table below (expressed as a percentage of the principal amounts so redeemed) plus accrued interest to the redemption date: Redemotion Dates Redemption Prices December 1, 2002 through May 31, 2003 101% ' June 1, 2003 and thereafter 100 , Annual debt service requirements to maturity for the bonds, including $2,375,366 of interest, is as follows: Year Total 2001 580,607 2002 591,428 2003 551,638 , 2004 518,738 2005 1,093,288 Thereafter 4.844.667 Total $ 8.180.366 C. Advance Refunding - 1998A Tag-Exempt Sales Tax Revenue Refunding Bonds and t 1998B Taxable Sales Tax Revenue Refunding Bonds The Town issued $8,760,000 of insured Tax-Exempt Sales Tax Revenue Refunding Bonds and ' $735,000 of insured Taxable Sales Tax Revenue Refunding Bonds dated September 1, 1998. The bond proceeds were used to refund the Town's Sales Tax Revenue Bonds, Series 1991 and certain of the Sales Tax Revenue Refunding and Improvement Bonds, Series 1992B, and paying the costs of ' issuance of the bonds. The Town placed the proceeds of the refunding in escrow to provide funds to pay principal and ' interest on the refunded bonds. All the refunded bonds are considered to be defeased. The interest rate on the 1998A bonds is between 4.25% and 4.5%. The interest rate on the 1998B I bonds is between 6.00% and 6.05%. Both bond issues are payable on June 1 and December 1. The bonds are revenue obligations of the Town payable solely from the Town's 4% sales tax. The ' bonds are secured by a lien on, but not an exclusive lien on, the sales tax. B15 ' ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) ' 8. Long-Term Debt (Continued) C. Advance Refunding - 1998A Tax-Exempt Sales Tax Revenue Refunding Bonds and 1998B Taxable Sales Tax Revenue Refunding Bonds (Continued) The Series 1998A Bonds maturing on and after December 1, 2009 are subject to redemption prior to maturity at the option of the Town, in whole or in part in integral multiples of $5,000, and if in part in ' such order of maturities as the Town shall determine and by lot within a maturity, on December 1, 2008 and on any date thereafter, at a redemption price equal to par, plus accrued interest to the redo...Ytion date. The Series 1998B Bonds are not subject to redemption prior to maturity. ' Annual debt service requirements to maturity for the 1998A bonds, including $3,778,028 of interest, is as follows: Year Total 2001 386,628 2002 386,628 ' 2003 386,628 2004 386,628 ' 2005 386,628 Thereafter 10.604.888 Total $ 12.538.028 Annual debt service requirements to maturity for the 1998B bonds, including $288,416 of interest, is ' as follows: Year Total ' 2001 44,288 2002 44,288 2003 44,288 2004 44,288 2005 44,288 Thereafter 801.976 Total $ 1.023.416 ' B16 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 8. Long-Term Debt (Continued) D. Changes in General Long-Term Debt The following is a summary of debt transactions of the Town for the year ended December 31, 2000: ' January 1, 2000 December 31, , (Restated) Additions Retirements 2000 General Obligation Bonds: ' 1992 Series A $ 6,000,000 800,000 5,200,000 Sales Tax Revenue Bonds: , Bond Series 1992B 6,180,000 375,000 5,805,000 Bond Series 1998A 8,760,000 8,760,000 Bond Series 1998B 735,000 735,000 ' Capitalized lease agreements 548,615 130,542 418,073 ' Vacation payable 564.737 13.308 578.045 Total $22.788.352 13.308 1.305.542 21.496.118 ' E. Authorized, Issued and Defeased Bonds ' At December 31, 2000, there were no authorized but unissued debt. The amount of outstanding ' defeased bonds for all refunded Town of Vail issues at year end was $7,425,000. F. Vacation and Sick Leave Pay Benefits , The Town has a policy allowing the accumulation of vacation and sick leave pay up to certain maximum limits. In accordance with GAAP for governmental accounting, the apF w.:mate vacation ' pay liability of $578,045 and $514,334 at December 31, 2000 and 1999 respectively, has been reflected in the attached financial statements as a portion of the general long-term debt group of accounts. ' Accumulated sick pay of approximately $1,618,425 and $1,520,560 at December 31, 2000 and 1999 respectively, has not been reflected in the attached financial statements as the amount is partially insured by an independent insurance company and the amounts are not payable at termination. ' B17 , ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) ' 8. Long-Term Debt (Continued) G. Conduit Debt Obligations The Town issued $7,505,000 of single family revenue refunding bonds in 1992 to refund bonds originally issued in 1981 to provide financial assistance to a private-sector entity for the construction of a commercial housing project it deemed to be in the public interest (Pitkin Creek Park, located in East Vail). The bonds are secured by the property financed and are payable solely from payments received on the underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired facility transfers to the private-sector entity served by the bond issuance. The Town is not obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as liabilities in 'the accompanying financial statements. ' As of December 31, 2000, the aggregate principal amount payable was $985,000. 9. Pension Plans The Town offers two defined contribution pension plans to cover all permanent paid employees of the Town. In addition, employees of the Vail Recreation District participate and are subject to the same plan provisions. The plan covered approximately 884 employees in 2000. The Town established this ' qualified money purchase pension plan under Internal Revenue Code ("IRC") Section 401(a), and may amend all of the plan provisions. The first plan covers all full time and qualified seasonal employees of the Town of Vail and the Vail Recreation District; the second plan covers all full time and qualified seasonal employees of the Police and Fire Departments of the Town of Vail. The plan provisions are the same for both plans. In defined contribution plans, benefits depend solely on amounts contributed to the plans plus investment earnings. Employees are eligible to participate in the plans from the date of employment or the effective date of the plans, January 1, 1983, whichever is later. The plans provide for ' contributions to be made by the Town of 12.6% of regular compensation for the first year of employment and 17.6% thereafter. For employees hired after April 1, 1986, the Town's contribution is 11.15% of regular compensation for the first year, and 16.15% thereafter. ' Employees have the option to make voluntary contributions of 10% of their compensation. In the event of continued long-term disability of an employee, the Town's disability insurance will continue to make contributions for the employee through age 60 at the rate on the date of disability. ' For employees hired before July 1, 1986, vesting of the Town's contributions is 77.5% after the first year of employment with an additional vesting of 7.5% per year through the fourth year, when vesting is 100%. For employees hired after June 30, 1986, vesting of the Town's contributions to the employees is 20% after the first year of employment with additional vesting of 20% per year through the fifth year, when vesting is 100%. If an employee dies, becomes disabled, or attains the age of 60, ' their entire interest in the plans becomes vested; and normal retirement age is 60 with early retirement at age 50 and four years of service. ' $18 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 (Continued) 9. Pension Plans (Continued) In 1991, the Town established a defined contribution pension plan for seasonal employees who work ' for the Town longer than 6 weeks. Seasonal employees who work for the Town less than 6 weeks are covered under Social Security only. Seasonal employees are required to contribute 6% of regular compensation to the plan and the Town contributes 1.5%. Seasonal employees are 100% vested after , their first contribution. The annual pension cost is the Town's contributions less forfeitures from the prior year. The plans' ' invested assets at December 31, 2000 of $27,989,949 are stated at market value. All earnings, losses, expenses and changes in the fair market value of the trust fund will be apportioned at least annually among the participants in proportion to each participant's current share of the Trust Investment Fund. ' The Town has no liability for unfunded future vested employee benefits. The trustees and administrators of the plans are the Retirement Boards. The Retirement Boards , determine how the plans' assets are to be invested in adherence to an adopted investment policy statement. ' The total amount of the employees current year covered payroll was $8,314,414 and total 2000 r payroll for all employees was $10,071,949. The plan held investments with the following organizations that exceeded 5% of total plan net assets ' at December 31, 2000: Amount Percentage ' Cohen & Steers Realty $1,659,391 5.9% Deutsche Fixed Income Institutional $3,670,844 13.1% Dodge & Cox Stock $3,864,304 13.8% Managers Special $2,874,195 10.3% Montag & Caldwell Growth $2,711,470 9.7% ' Schwab Money Market Fund $6,193,801 22.1% T. Rowe International $3,704,913 13.2% Vanguard Index 500 $2,200,014 7.9% ' 10. Retirement Savings Plan - Deferred Compensation Plan - IRC 457 The Town offers its employees a deferred compensation plan (the "457 Plan") created in accordance with Internal Revenue Code ("IRC") Section 457. The 457 Plan, available to all Town employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the 457 Plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are to be held in trust for the exclusive benefit of the 457 Plan participants and their beneficiaries. r B19 Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) 10. Retirement Savings Plan - Deferred Compensation Plan - IRC 457 (Continued) The accrual basis of accounting is used for the 457 Plan. Revenues are recognized when earned and expenditures are recognized when incurred. Investments are recorded at market value. ' The trustees and administrators of the 457 Plan are the Retirement Board, which comprises members of the Town's administration. The Retirement Board determines how the 457 Plan's assets are to be invested in adherence to an adopted investment policy statement. The Town has no liability for losses under the 457 Plan but does have the duty of due care that would ' be required of an ordinary prudent investor. The total assets of the 457 Plan were $2,997,065 at December 31, 2000. The assets were invested in pooled investment funds and an annuity. Pursuant to the Town's adoption of GASB Statement No. 32, Accounting and Financial Reporting for ' Internal Revenue Code Section 457 Deferred Compensation Plans, the 457 Plan has been included in these financial statements as an expendable trust fund. 11. Cafeteria Plan ' The Town offers a cafeteria compensation plan organized under IRC Section 125 that includes the following benefits: medical disability, accident and/or term life insurance, and health expense reimbursement. No cost to the Town is recognized as the plan is a salary reduction plan. 12. Employee Health Insurance Fund t The Town has established a "Shared Fund - Minimum Premium" health insurance plan, to provide medical benefits to eligible employees. Premiums are determined at the beginning of each plan year ' and are charged to individual funds when paid. The Town has established a $477,396 reserve for future claims in the event that claims exceed the premiums charged to other funds of the Town. The maximum liability in any policy year is the total of the premium and claims incurred charged. If ' the total premiums and claims incurred in a policy year to the insurer are in excess of claims paid, excluding a stop loss of claims over $50,000 per person, a refund is due to the Town. The plan established a maximum funding cost of $1,332,930 for the present number of Town employees for the ' 2000 policy period. 13. Risk Management ' The Town is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; natural disasters; and worker's compensation for which the Town carries ' commercial insurance. The worker's compensation premiums are subject to adjustments based on audits of actual claims incurred. B20 r Town of Vail, Colorado Notes to the Financial Statements r December 31, 2000 (Continued) 1 14. Fund Over Budget Actual expenditures exceeded budgeted expenditures by $56,923 in the Heath Insurance Fund at December 31, 2000. 15. Residual Equity Transfers/Prior Year Restatements , On January 1, 2000, four funds were closed and their budget-basis fund balances were transferred to r other funds as follows: Transferred To r Capital General Projects Transferred From Fund Fund ReuortinE Location in 2000 ' Police Confiscation Fund $121 General Fund Housing Fund 1,060,431 General Fund (Rental Op,.al;ons); Capital ' Projects Fund (Construction Operations) Parking Structure Fund 358,172 General Fund (Parking Operations); Capital Projects Fund (Capital Maintenance) ' Facility Maintenance Fund 379.165 General Fund $121 1.797.768 The following is a reconciliation of the retained earnings of the closed proprietary funds to their r budget-basis fund balances: Fund Fund Renortina Location in 2000 , Retained Earnings, 1/l/00 $335,465 (5,856,571) Assessments receivable (30,689) Capital Projects Fund Accrued vacation 32,333 18,068 General Long-Term Debt , Net assets 6,227,364 General Fixed Assets Cv..Uibuted Capital 11.367 Budget Basis Fund Balance, 1/1/00 $379.165 358.172 ' Beginning balances for General Fixed Assets and General Long-Term Debt have been marked ' "Restated" for comparability. r r B21 ' Town of Vail, Colorado Notes to the Financial Statements December 31, 2000 ' (Continued) 16. Commitments and Contingencies A. Legal Claims During the normal course of business, the Town incurs claims and other assertions against it from various agencies and individuals. Management of the Town and their legal representatives feel none of these claims or assertions are significant enough that they would materially affect the fairness of the presentation of the financial statements at December 31, 2000. B. Federal Funds Funds received from Federal grants and programs are subject to audit and disallowance on ineligible costs. Management of the Town feels any potential questioned or disallowed costs would not materially affect the fairness of the presentation of the financial statements at December 31, 2000. 17. TABOR Amendment - Revenue and Spending Limitation Amendment In November 1992, Colorado voters amended Article X of the Colorado Constitution by adding Section 20, commonly known as the Taxpayer's Bill of Rights (TABOR). TABOR contains revenue, spending, tax and debt limitations which apply to the State of Colorado and local governments. ' TABOR requires, with certain exceptions, advance voter approval for any new tax, tax rate increase, mill levy above that for the prior year, extension of any expiring tax, or tax policy change directly causing a net tax revenue gain to any local government. Except for refinancing bonded debt at a lower interest rate or adding new employees to existing pension plans, TABOR requires advance voter approval for the creation of any multiple-fiscal year ' debt or other financial obligation unless adequate present cash reserves are pledged irrevocably and held for payments in all future fiscal years. TABOR also requires local governments to establish emergency reserves to be used for declared emergencies only. Emergencies, as defined by TABOR, exclude economic conditions, revenue shortfalls, or salary or fringe benefit increases. These reserves are required to be I% or more of fiscal year spending (excluding bonded debt service) for the fiscal year ended December 31, 1994, 2% or more for the fiscal year ended December 31, 1995 and 3% or more thereafter. The Town has reserved a portion of its December 31, 2000 year-end fund balance in the General Fund for emergencies as required under Tabor in the amount of $990,000, which is the approximate required reserve at December 31, 2000. The initial base for local government spending and revenue limits is December 31, 1992 fiscal year spending. Future spending and revenue limits are determined based on the prior year's fiscal year spending adjusted for inflation in the prior calendar year plus annual local growth. Fiscal year spending is generally defined as expenditures and reserve increases with certain exceptions. ' Revenue, if any, in excess of the fiscal year spending limit must be refunded in the next fiscal year unless voters approve retention of such revenue. The Town's management believes it is in compliance with the financial provisions of TABOR. However, TABOR is complex and subject to interpretation. Many of its provisions, including the interpretation of how to calculate fiscal year spending limits, will require judicial interpretation. r B22 Town of Vail, Colorado Notes to the Financial Statements , December 31, 2000 (Continued) 18. TABOR Amendment - Revenue and Spending Limitation Amendment (Continued) On November 16, 1993, voters of the Town approved the collection and expenditure of all revenues i generated including reduction in debt service during 1993 and each subsequent year (not including revenue generated from ad valorem property taxes) without any increase in such tax rates and the expenditure of such revenues for debt service, municipal operations, and capital projects, effective January 1, 1993. The remaining restrictions of the TABOR Amendment apply, which are: • Voter approval of all new taxes and tax rate increases; • Voter approval for new or additional Town of Vail debt; • All ad valorem property tax restrictions remain in full force and effect; • No increase or imposition of a new real estate transfer tax; and, • All election requirements remain in effect. B23 ' Combining and Individual Fund And Account Group Statements The combining financial statements present a summary of the financial position of all funds of a given fund type and of the operating results of the same funds. The individual fund and account group statements present information when only one fund or account group exists. a General Fund ' The General Fund is used to account for resources traditionally associated with government which are not required legally or by sound financial management to be accounted for in another fund Town of Vail, Colorado ' General Fund Statement of Revenues Budget (GAAP Basis) and Actual ' For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) ' 2000 1999 Variance ' Amended Favorable Actual Budget Actual (Unfavorable) (Restated) Taxes: General sales taxes 8,593,000 8,760,101 167,101 8,113,554 Property and ownership taxes 2,255,552 2,243,281 (12,271) 2,157,937 Resort fees 1,890,000 1,961,723 71,723 1,710,061 ' Franchise fees 579,460 576,904 (2,556) 564,419 Penalties and interest on delinquent taxes 25,000 29,350 4,350 23,256 Total Taxes 13,343,012 13,571,359 228,347 12,569,227 Licenses and Permits: Construction fees 650,000 606,670 (43,330) 516,999 Contractors' licenses 30,603 43,820 13,217 43,735 Other permits and licenses 29,774 45,221 15,447 40,291 Total Licenses and Permits 710,377 695,711 (14,666) 601,025 Intergovernmental Revenues: County sales tax 500,000 517,260 17,260 459,664 ' County road and bridge 487,674 466,024 (21,650) 423,671 Additional motor vehicle registration fees 31,366 27,403 (3,963) 27,884 Cigarette tax 118,609 101,451 (17,158) 111,086 ' Highway users tax 229,720 225,509 (4,211) 221,471 State health inspection 12,157 13,064 907 11,916 Transportation fees 48,277 ' Other State sources 3,000 23,782 20,782 27,818 Federal sources 23,000 2,000 (21,000) 106,495 Total Intergovernmental Revenues 1,405,526 1,376,493 (29,033) 1,438,282 Charges For Services: Management fees - Vail Valley Marketing Board 17,000 16,328 (672) 16,815 Out of district fire response 30,371 57,324 26,953 36,127 Alarm monitoring fees 58,406 53,543 (4,863) 52,578 Parking 1,763,000 1,980,417 217,417 1,513,610 Other charges, services, and sales 106,437 109,681 3,244 106,968 ' Total Charges for Services 1,975,214 2,217,293 242,079 1,726,098 Other: Fines and forfeits 300,199 279,367 (20,832) 223,748 ' Interest on investments 275,000 391,781 116,781 281,197 Rents 420,258 427,329 7,071 322,091 Other 85,644 161,024 75,380 347,951 ' Proceeds from capital leases 10,665 Total Other Revenues 1,081,101 1,259,501 178,400 1,185,652 1 Total Revenues 18,515,230 19,120,357 605,127 17,520,284 The accompanying notes are an integral part of these financial statements. ' Cl Town of Vail, Colorado General Fund , Statement of Expenditures Budget (GAAP Basis) and Actual For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) 2000 1999 Variance Amended Favorable Actual ' Budget Actual (Unfavorable) (Restated) Expenditures: Town officials 1,058,049 977,542 80,507 890,748 ' Administrative 2,223,165 2,169,297 53,868 2,009,003 Community development 1,254,671 1,195,769 58,902 1,249,981 Public safety - Police 3,833,291 3,607,220 226,071 3,715,222 Public safety - Fire 1,446,244 1,326,250 119,994 1,389,669 Public works 2,289,912 2,174,096 115,816 2,119,981 Public transportation 2,641,397 2,639,831 1,566 2,578,913 ' Parking 370,359 399,260 (28,901) 288,607 Facility maintenance 2,023,098 1,942,880 80,218 1,744,358 Public library 729,048 716,577 12,471 661,636 ' Contributions and special events 940,930 900,001 40,929 955,652 Operating transfer to: ' Booth Creek Bond Fund 48,132 Total Expenditures 18,810,164 18,048,723 761,441 17,651,902 The accompanying notes are an integral part of these financial statements. C2 , Special Revenue Funds Special Revenue Funds are used to account for specific revenues that are legally restricted to expenditure for a particular purpose. The Capital Projects Fund is used to account for a portion of the Town's Sales Tax and Resort Fee which is restricted for the acquisitions of and improvements to the Town's general fixed assets. The Real Estate Transfer Tax Fund is used to account for the collection of Real Estate Transfer Tax revenue which is specifically restricted for acquiring and improving real property for recreation and open space purposes. The Vail Marketing Fund is used to account for the collection of a business license fee which is specifically restricted for expenditures related to marketing the town of Vail. Town of Vail, Colorado Special Revenue Funds Combining Balance Sheet December 31, 2000 (With Comparative Totals for 1999) Total Capital Real Estate Vail Projects Transfer Marketing , Fund Tax Fund Fund 2000 1999 Assets Equity in pooled cash and investments 6,718,411 7,989,457 1,517 14,709,385 12,027,672 Receivables: Taxes and fees 2,138,370 41,442 21179,812 1,972,673 Other governments 1,080,823 1,080,823 1,082,226 Other 215,376 6,459 26,775 248,610 86,177 Total Assets 10,152,980 8,037,358 28,292 18,218,630 15,168,748 , Liabilities and Fund Equity Liabilities Accounts payable 439,220 268,467 707,687 262,172 L Accrued wages and benefits 6,329 6,329 3,845 Retainage payable 64,594 64,594 181,543 , Deferred revenue 1,024,681 1,024,681 1,018,204 Rental deposits 15,773 Total Liabilities 1,528,495 274,796 1,803,291 1,481,537 , Fund Equity Fund balances: Unreserved: , Designated for subsequent years' expenditures 959,422 6,299,815 7,259,237 Undesignated 7,665,063 1,462,747 28,292 9,156,102 13,687,211 Total Fund Equity 8,624,485 7,762,562 28,292 16,415,339 13,687,211 Total Liabilities and Fund Equity 10,152,980 8,037,358 28,292 18,218,630 15,168,748 The accompanying notes are an integral part of these financial statements. C3 ' Town of Vail, Colorado Combining Statement of Revenues, Expenditures, and Changes in Fund Balances All Special Revenue Funds ' For the Year Ended December 31, 2000 (With Comparative Totals for 1999) Real Vail Police Total Capital Estate Valley Confis- Vail Projects Transfer Marketing cation Housing ' Fund Tax Fund Fund Fund Fund 2000 1999 Revenues: ' Taxes 6,608,497 3,518,178 10,126,675 9,267,849 Licenses and permits 58,654 326,562 385,216 357,144 Intergovernmental revenues 49,425 21,923 71,348 2,119,630 ' Sales of assets 119,811 1,807 121,618 Interest on investments 551,445 478,485 1,517 1,031,447 438,535 Rents 139,480 106,137 245,617 382,797 Miscellaneous revenues 772,170 1,909,455 26,775 2,708,400 2,418,773 Total Revenues 8,240,828 6,094,639 354,854 14,690,321 14,984,728 ' Expenditures: Operations 605,247 326,562 931,809 1,496,908 Notes payable: Principal retirement 301,268 Interest 39,164 Capital projects 6,982,165 2,496,929 9,479,094 6,318,692 ' Total Expenditures 6,982,165 3,102,176 326,562 10,410,903 8,156,032 Excess of Revenues Over ' (Under) Expenditures 1,258,663 2,992,463 28,292 4,279,418 6,828,696 Other Financing Sources (Uses): Operating transfers in 906,731 ' Operating transfers (out) (2,288,506) (2,288,506) (2,785,965) Debt reduction from ECRA 750,000 Distribution from ECRA 1,223,241 Total Other Financing Sources (Uses) (2,288,506) (2,288,506) 94,007 ' Excess of Revenues Over (Under) Expenditures and Other Sources (Uses) (1,029,843) 2,992,463 28,292 1,990,912 6,922,703 ' Fund Balances - January 1 7,856,560 4,770,099 121 1,060,431 13,687,211 6,774,508 Residual Equity Transfers 1,797,768 (121) (1,060,431) 737,216 ' Decrease in Alpine Gardens reserve (10,000) Fund Balances, December 31 8,624,485 7,762,562 28,292 16,415,339 - 13,687,211 1 - - The accompanying notes are an integral part of these financial statements. ' C4 Town of Vail, Colorado Special Revenue Funds , Capital Projects Fund Schedule of Revenues, Expenditures, and Transfers ' Budget (GAAP Basis) and Actual For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) 1999 2000 Variance Amended Favorable Actual Budget Actual (Unfavorable) (Restated) Revenues: Sales tax revenue 6,459,000 6,608,497 149,497 6,492,304 Federal grants 83,500 49,425 (34,075) 81,748 Sales of assets 2,079,000 119,811 (1,959,189) 1,181,647 Special parking assessments 62,340 12,340 (50,000) 53,691 Interest on investments 300,000 551,445 251,445 224,112 State project grants 2,000,000 Leases - Vail Commons 149,480 139,480 (10,000) 139,480 , Other 1,549,750 759,830 (789,920) 3,175,717 Other Financing Sources: ' Proceeds from capital leases 5,000,000 (5,000,000) Total Revenues 15,683,070 8,240,828 (7,442,242) 13,348,699 ' Expenditures and Transfers: ' Capital projects and acquisition 15,449,248 6,982,165 8,467,083 6,899,303 Operating Transfers: , Debt Service Fund 2,290,265 2,288,506 1,759 2,120,965 Total Expenditures and ' Transfers 17,739,513 9,270,671 8,468,842 9,020,268 The accompanying notes are an integral part of these financial statements. t CS Town of Vail, Colorado Capital Projects Fund Schedule of Project Expenditures ' Budget and Actual Comparison For the Year Ended December 31, 2000 Variance Project Amended Favorable Number Project Name Budget Actual (Unfavorable) CBI005 Library Building Remodel 225,000 10,386 214,614 ' CB1008 Vail Fire Station Remodel 3,589 (3,589) CB1010 Fire Infrastructure improvements 5,123,835 14,462 5,109,373 CB1014 Overlay Municipal Building Parking Lot 17,207 56,414 (39,207) ' CBI015 Community Facilities Hub Site 428,491 429,987 (1,496) CBI018 Information Center Remodel 8,000 2,029 5,971 CEP005 Software/Hardware Purchases 80,252 55,288 24,964 ' CEP006 Radio Replacement 152,372 151,898 474 CEP010 PBX System & Operating System Upgrade 300,000 332,280 (32,280) CEP013 Snow Plow 125,000 70,190 54,810 ' CEP014 Street Sweeper 150,000 111,294 38,706 CEP015 3rd Sheet of lee 770,385 680,828 89,557 CHP001 Buy Down Program 1,100,000 302,916 797,084 CMP001 Loading & Delivery Study 27,000 17,813 9,187 CMP004 Parking Study 50,000 38,762 11,238 CMT002 Street Furniture Replacement 98,000 94,636 3,364 ' CMT003 Bus Shelter Replacement Program 26,000 20,065 5,935 CMT004 Capital Street Maintenance 232,793 127,202 105,591 ' CMT007 Parking Structure Maintenance 711,400 613,854 97,546 COT002 Street Light Improvement Program 75,000 99,216 (24,216) COT003 Drainage Improvements 140,000 50,965 89,035 ' COT009 Lionshead Improvements 285,638 72,243 213,395 CPA002 Creekside Employee Housing Units 1,200,000 1,208,678 (8,678) CSC010 Way Finding Improvements 642,000 132,331 509,669 CSCOI I West Meadow Drive 100,000 9,250 90,750 CSR001 Lionsridge Street Project 10,000 11,820 (1,820) CSR002 Vail Valley Drive 75,000 35,604 39,396 CSR003/CSR004 Lupine Drive/Vail Road/Westhaven Drive 1,200,000 1,221,124 (21,124) FED015 Bus Ramp/Wheelchair Lift 112,650 61,781 50,869 HSGO06 A-Frame Redevelopment 27,000 34,167 (7,167) ' HSG008 Red Sandstone Housing 4,225 17,558 (13,333) HSGOI 1 Arosa-Garmisch Site 1,100,000 892,269 207,731 ' Other Projects 852,000 1,266 850,734 Total 15,449,248 6,982,165 8,467,083 The accompanying notes are an integral part of these financial statements. ' C6 Town of Vail, Colorado Special Revenue Funds Real Estate Transfer Tax Fund Schedule of Revenues, Expenditures and Transfers ' Budget (GAAP Basis) and Actual For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) ' 2000 1999 , Variance Amended Favorable , Budget Actual Unfavorable) Actual Revenues: ' Real estate transfer tax 2,900,000 3,518,178 618,178 2,775,545 Recreation amenities fee 130,000 58,654 (71,346) 20,851 Lottery revenue 25,000 20,125 (4,875) 18,982 ' Federal revenues 1,798 1,798 18,900 Sales of assets 1,807 1,807 , Interest on investments 40,000 478,485 438,485 177,276 Land lease from Vail Recreation District 109,582 106,137 (3,445) 102,251 Other 100,000 1,909,455 1,809,455 28,573 Total Revenues 3,304,582 6,094,639 2,790,057 3,142,378 Expenditures and Transfers: Project management 25,510 71,933 (46,423) 59,515 Park maintenance 635,669 605,247 30,422 501,406 Capital projects 3,936,825 2,424,996 1,511,829 683,870 Notes Payable: Principal retirement 301,268 Interest 39,164 , Total Expenditures and Transfers 4,598,004 3,102,176 1,495,828 1,585,223 The accompanying notes are an integral part of these financial statements. C7 ' Town of Vail, Colorado Real Estate Transfer Tax Fund Schedule of Project Expenditures ' Budget and Actual Comparison For the Year Ended December 31, 2000 ' Variance Project Amended Favorable Number Project Name Budget Actual (Unfavorable) ' RFP003 Ford Park Manor Vail Bridge 48,198 40,747 7,451 RFP005 Alpine Gardens Contribution 188,500 188,500 ' RFP006 Ford Park Management Plan 8,671 (8,671) RFP007 Ford Park Improvements 151,249 149,743 1,506 RFP008 Ford Park'99 Championship Repairs 6,100 11,055 (4,955) RFPO10 Ford Park Interior Recreation Path 30,000 6,486 23,514 RFPOI 1 Nature Center Bridge Repair 230,000 19,435 210,565 ' RFP012 Ford Ampitheater Remodel 277,500 277,500 ' RM7001 Recreation Path Maintenance 115,000 59,024 55,976 RMT002 Tree Planting 110,000 120,909 (10,909) ' RPA001 Property Acquisition 46,591 (46,591) RPD002 New West Vail Park 601,000 424,611 176,389 ' RPD003 Buffehr Creek Park Expansion 308,218 369,864 (61,646) RPD004 Donovan Park Master Plan 164,060 168,537 (4,477) ' RPD005 Donovan Park - Lower Bench 1,000,000 202,922 797,078 RPD006 Whitewater Park 250,000 159,770 90,230 RPD008 Red Sandstone Soccer Field 2,750 (2,750) ' RP1005 Stephens Park Improvements 50,000 3,599 46,401 RPT003 North Trail 100,000 94,961 5,039 ' RPT009 Katsos Ranch Bike Path Realignment 95,000 53,646 41,354 RPT012 Booth Creek Parking Lot 35,000 13,840 21,160 ' Other 177,000 1,835 175,165 1 Total 3,936,825 2,424,996 1,511,829 The accompanying notes are an integral part of these financial statements. C8 r Town of Vail, Colorado ' Special Revenue Funds Vail Marketing Fund Statement of Revenues and Expenditures Budget (GAAP Basis) and Actual For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) r 2000 1999 , Variance Favorable Budget Actual Unfavorable) Actual Revenues: Business licenses 340,000 326,562 (13,438) 336,293 r Interest on investments 1,517 1,517 Other revenue 26,775 26,775 Total Revenues 340,000 354,854 14,854 336,293 , r Marketing Expenditures: Payments to Vail Local Marketing District 323,000 310,234 12,766 r Payments to VVTCB 319,478 Administration fee 17,000 16,328 672 16,815 r Total Expenditures _ 340,000 326,562 13,438 336,293 r r 1 r r The accompanying notes are an integral part of these financial statements. ' C9 r 1 i Debt Service Fund i The Debt Service Fund is used to account for the accumulation of i resources and payment of general obligation bond principal and interest from governmental resources. r Town of Vail, Colorado Debt Service Fund ' Comparative Balance Sheet December 31, 2000 and 1999 ' 2000 1999 ' Assets Equity in pooled cash and investments 171,465 164,318 Total Assets 171,465 164,318 Liabilities and Fund Equity Liabilities Accounts payable 1,113 587 Total Liabilities 1,113 587 Fund Equity i Fund balance Reserved for retirement of bond ' indebtedness 170,352 163,731 Total Fund Equity 170,352 163,731 Total Liabilities and Fund Equity 171,465 164,318 The accompanying notes are an integral part of these financial statements. ' C10 ' ' Town of Vail, Colorado Debt Service Fund Comparative Statement of Revenues, Expenditures, and ' Changes in Fund Balance For the Years Ended December 31, 2000 and 1999 2000 1999 Revenues: ' Received from Eagle County Recreational Authority - Component Unit 90,428 Interest on investments and assessments 39,546 25,151 ' Other 877 Total Revenues 39,546 116,456 Expenditures: ' Bond Issues: Principal 1,175,000 1,125,000 Interest 1,143,873 1,197,248 Fiscal agent fees 2,558 2,033 Total Expenditures 2,321,431 2,324,281 Excess Revenues (Under) ' Expenditures (2,281,885) (2,207,825) Other Financing Sources: ' Operating Transfers In: Capital Projects Fund 2,288,506 2,120,965 ' Total Other Financing Sources 2,288,506 2,120,965 ' Excess of Revenues Over (Under) Expenditures 6,621 (86,860) ' Beginning Fund Balances - January 1 163,731 250,591 r Ending Fund Balances - December 31 170,352 163,731 The accompanying notes are an integral part of these financial statements. C11 Town of Vail, Colorado Debt Service Fund ' Statement of Revenues and Expenditures Budget (GAAP Basis) and Actual ' For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) 2000 1999 Variance , Favorable Budget Actual (Unfavorable) Actual ' Revenues: Received from Eagle County Recreational ' Authority'- Component Unit 90,428 Interest on investments 20,000 39,546 19,546 25,151 Other 877 ' Operating Transfers: Capital Projects Fund 2,290,265 2,288,506 (1,759) 2,120,965 ' Total Revenues 2,310,265 2,328,052 17,787 2,237,421 Expenditures: Bond Issues: Principal 1,175,000 1,175,000 1,125,000 Interest 1,143,873 1,143,873 1,197,248 Fiscal agent fees 12,500 2,558 9,942 2,033 ' Total Expenditures 2,331,373 2,321,431 9,942 2,324,281 The accompanying notes are an integral part of these financial statements. ' C12 ' Internal Service Funds Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to other depa. L..ents or agencies of the government and to other government units, on a cost reimbursement basis. The Heavy Equipment Fund is used to account for the repair and maintenance costs and purchase of Town vehicles and equipment, excluding buses and fire trucks. Operating costs, including depreciation costs, are charged to user depa. t...ents and projects based on actual miles driven multiplied by a predetermined rate per mile. The Health Insurance Fund is used to account for the health insurance plan provided by the Town to its employees. The premiums charged are allocated to the Town's funds that have employees covered by the health insurance plan. The Dispatch Services Fund is used to account for the operations, including depreciation, of all emergency dispatch services within Eagle County. User entities are charged based on budgeted estimates. 1 i 1 1 i 1 Town of Vail, Colorado Internal Service Funds Combining Balance Sheet December 31, 2000 (With Comparative Totals for 1999) Total Heavy Health Dispatch Equipment Insurance Services Fund Fund Fund 2000 1999 Assets Equity in pooled cash and investments 1,197,692 419,665 117,427 1,734,784 2,460,462 Accounts receivable, net 154,230 38,379 192,609 36,758 Inventory 168,970 168,970 173,852 Prepaid expenses 18,353 128,521 146,874 130,542 Property, plant and equipment (net of accumulated depreciation) 2,215,246 219,682 2,434,928 2,426,506 Total Assets 3,600,261 702,416 375,488 4,678,165 5,228,120 Liabilities and Fund Equity ' Liabilities Accounts payable 31,676 223,419 6,654 261,749 382,571 Deferred revenue 1,667 Accrued wages & benefits 62,099 1,601 73,379 137,079 187,605 Total Liabilities 93,775 225,020 80,033 398,828 571,843 Fund Equity Contributed capital 1,255,169 294,456 1,549,625 1,589,155 Retained earnings: Reserved for health insurance 352,396 352,396 742,078 Reserved for subsequent year's expenditures 211,772 125,000 336,772 67,924 Unreserved 2,039,545 999 2,040,544 2,257,120 Total Fund Equity 3,506,486 477,396 295,455 4,279,337 4,656,277 , Total Liabilities and , Fund Equity 3,600,261 702,416 375,488 4,678,165 5,228,120 The accompanying notes are an integral part of these financial statements. ' C13 Town of Vail, Colorado Internal Service Funds Combining Statement of Revenues, Expenses, ' and Changes in Retained Earnings For the Year Ended December 31, 2000 (With Comparative Totals for 1999) ' Total Heavy Health Facility Dispatch ' Equipment Insurance Maintenace Services Fund Fund Fund Fund 2000 1999 Operating Revenues: ' Intergovernmental revenues 211,379 211,379 154,976 Charges for services 1,569,530 1,228,148 1,020,444 3,818,122 5,095,621 Building rents 20,872 Insurance reimbursements 81,881 81,881 28,433 Other 935 935 19,473 ' Total Operating Revenues 1,652,346 1,228,148 1,231,823 4,112,317 5,319,375 Operating Expenses: Operations 1,310,492 1,121,856 2,432,348 4,078,671 Depreciation 504,647 89,891 594,538 562,321 Health claims, premiums, and dividends 1,533,962 1,533,962 1,241,288 Total Operating Expenses 1,815,139 1,533,962 1,211,747 4,560,848 5,882,280 Operating Income (Loss) (162,793) (305,814) 20,076 (448,531) (562,905) ' Non-Operating Revenues (Expenses): ' Interest income 72,515 41,132 18,064 131,711 99,593 Operating transfers in 412,333 Gain on disposition of equipment 314,875 314,875 398,346 t Total Non-Operating Revenues 387,390 41,132 18,064 446,586 910,272 Net Income (Loss) 224,597 (264,682) 38,140 (1,945) 347,367 Retained Earnings (Deficit) - January 1 2,026,720 742,078 335,465 (37,141) 3,067,122 2,719,755 ' Residual Equity Transfers (335 465) (335,465) Retained Earnings - December 31 _ 2,251,317 477,396 999 _ 2,729,712 3,067,122 The accompanying notes are an integral part of these financial statements. CM Town of Vail, Colorado Internal Service Funds Combining Statement of Cash Flows For the Year Ended December 31, 2000 (With Comparative Totals for 1999) Heavy Health Facility Dispatch Total , vy ty Equipment Insurance Maintenance Services Fund Fund Fund Fund 2000 1999 ' Cash Flows From Operating Activities: Cash from (to) other funds 1,569,530 1,107,415 431,648 3,108,593 4,520,402 Other receipts of cash 82,815 761,899 844,714 803,246 Cash paid for goods and services (860,762) (1,501,527) (336,108) (2,698,397) (2,838,085) Cash paid to employees (452,001) (52,104) (782,970) (1,287,075) (2,356,954) Net Cash Provided (Used) by Operating Activities 339,582 (446,216) 74,469 (32,165) 128,609 Cash Flows from Noncapital Financing Activities: Cash from (to) other funds (508,976) (508,976) 412,333 ' Net Cash Provided by Noncapital Financing Activities (508,976) (508,976) 412,333 Cash Flows From Capital ' and Related Financing Activities: Sale of fixed assets 82,568 82,568 88,612 Purchase of fixed assets (351,871) (46,945) (398,816) (319,897) Net Cash (Used) by Capital and Related Financing Activities (269,303) (46,945) (316,248) (231,285) Cash Flows from Investing Activities: Interest received 72,515 41,132 18,064 131,711 99,593 Net Cash Provided by Investing Activities 72,515 41,132 18,064 131,711 99,593 Net Increase (Decrease) in Cash and Cash Equivalents 142,794 (405,084) (508,976) 45,588 (725,678) 409,250 Cash and Cash Equivalents at Beginning of Year 1,054,898 824,749 508,976 71,839 2,460,462 2,051,212 Cash and Cash Equivalents at End of Year 1,197,692 _ 419,665 117,427 _ 1,734,784 - 2,460,462 ' Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities Operating Income (Loss) (162,793) (305,814) 20,076 (448,531) (562,905) ' Adjustments: Depreciation 504,647 89,891 594,538 562,320 (Increase) decrease in accounts receivable (119,066) (38,276) (157,342) (32,558) (Increase) decrease in inventory 4,882 4,882 (8,702) (Increase) decrease in prepaid expenses (1,217) (47,060) (48,277) (51,702) Increase(decrease)in accounts payable (11,710) 26,258 3,769 18,317 140,938 (Decrease) in deferred revenue (1,667) (1,667) 1,667 Increase (decrease) in accrued wages and benefits 5,773 1,133 (991) 5,915 79,551 Total Adjustments 502,375 (140,402) 54,393 416,366 691,514 , Net Cash Provided (Used) by Operating Activities 339,582 (446,216) 74,469 (32,165) 128,609 Schedule of Non-Cash Investing Activity: Acquisition of equipment contributed by another fund 181,484 16,000 197,484 _ 297,321 The accompanying notes are an integral part of these financial statements. C15 Town of Vail, Colorado Internal Service Funds Heavy Equipment Fund Schedule of Revenues and Expenses Budget (Non-GAAP Basis) and Actual With a Reconciliation to GAAP Basis For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) ' 2000 1999 Variance Favorable Budget Actual (Unfavorable) Actual Revenues: Operating charges 1,223,528 1,181,536 (41,992) 1,187,013 Replacement charges 396,620 387,994 (8,626) 361,487 Insurance reimbursements 41,800 81,881 40,081 28,433 Other 935 935 1,521 ' Sale of assets 103,800 82,568 (21,232) 88,612 Interest on investments 20,000 72,515 52,515 44,582 ' Total Revenues 1,785,748 1,807,429 21,681 1,711,648 Expenses: Vehicle maintenance and fuel 1,264,489 1,286,707 (22,218) 1,194,745 ' Capital outlay 585,750 374,666 211,084 301,449 Total Expenses 1,850,239 1,661,373 188,866 1,496,194 Net Income - Non-GAAP Basis 146,056 215,454 Book value of retired equipment 232,307 309,734 Accrued vacation (990) 360 Depreciation (504,647) (480,651) Assets purchased 351,871 271,319 Net Income - GAAP Basis 224,597 316,216 The accompanying notes are an integral part of these financial statements. C16 I Town of Vail, Colorado Internal Service Funds Health Insurance Fund Schedule of Revenues and Expenses Budget (GAAP Basis) and Actual For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) 2000 1999 , Variance Amended Favorable Budget Actual (Unfavorable) Actual Revenues: ' Insurance premiums 1,193,289 1,228,148 34,859 1,162,051 Interest on investments 33,750 41,132 7,382 36,257 Insurer proceeds 5,237 Total Revenues 1,227,039 1,269,280 42,241 1,203,545 Expenses: Health claims 1,313,677 1,313,379 298 1,062,638 Premiums 140,362 142,345 (1,983) 165,536 , Administrative fees 25,000 (25,000) Short-term disability payments 23,000 53,238 (30,238) 13,114 Total Expenses 1,477,039 1,533,962 (56,923) 1,241,288 The accompanying notes are an integral part of these financial statements. ' C17 Town of Vail, Colorado Internal Service Funds Dispatch Services Fund 1 Schedule of Revenues and Expenses Budget (Non-GAAP Basis) and Actual With a Reconciliation to GAAP Basis For the Year Ended December 31, 2000 (With Comparative Amounts for 1999) 2000 1999 Variance Amended Favorable Budget Actual (Unfavorable) Actual Revenues: Intergovernmental revenue 205,800 211,379 5,579 154,976 Charges for services 1,026,023 1,020,444 (5,579) 569,982 Other 15,400 Interest on investments 18,064 18,064 1,318 Operating transfer from General Fund 412,333 Total Revenues 1,231,823 1,249,887 18,064 1,154,009 Expenses: Salaries and benefits 1,068,464 1,018,939 49,525 1,000,665 Operating expenses 89,700 108,286 (18,586) 65,335 Capital outlay 65,850 51,548 14,302 50,215 Total Expenses 1,224,014 1,178,773 45,241 1,116,215 Net Income - Non-GAAP Basis 71,114 37,794 Accrued vacation 9,972 (43,107) Depreciation (89, 891) (80,406) Assets purchased 46,945 48,578 Net Income (Loss) - GAAP Basis 38,140 (37,141) The accompanying notes are an integral part of these financial statements. 1 C18 Trust and Agency Funds 1 Expendable Trust Funds are used to account for assets held by the government as an agent for individuals, private organizations, other , governments and/or other funds. Pension Trust Fund - This fund is used to account for the accumulation of resources for pension benefit payments to qualified former and current Town of Vail and Vail Recreation District employees. Deferred Compensation Fund - This fund is used to account for assets held for employees in accordance with the provisions of the Internal Revenue Code Section 457. Town of Vail, Colorado Expendable Trust Funds Combining Balance Sheet December 31, 2000 (With Comparative Totals for 1999) Total Deferred Pension Compensation Trust Plan 2000 1999 Assets, Cash and investments - restricted 27,989,949 2,997,065 30,987,014 32,671,376 Loans to participants 317,290 317,290 360,130 Total Assets 28,307,239 2,997,065 31,304,304 33,031,506 Liabilities and Fund Equity Liabilities r Deficit in pooled cash 13,587 Deferred revenue 9,541 Accounts payable Total Liabilities 23,128 Fund Equity 1 Fund Balance: Reserved 28,307,239 2,997,065 31,304,304 33,008,378 Total Fund Equity 28,307,239 2,997,065 31,304,304 33,008,378 Total Liabilities and Fund Equity 28,307,239 2,997,065 31,304,304 33,031,506 The accompanying notes are an integral part of these financial statements. C19 i 1 Town of Vail, Colorado Expendable Trust Funds Combining Statement of Revenues, Expenses, and Changes in Fund Balances For the Year Ended December 31, 2000 (With Comparative Totals for 1999) Total Deferred , Pension Compensation Trust Plan 2000 1999 Operating Revenues: Employee contributions 92,248 273,757 366,005 295,600 Employer contributions 1,535,069 1,535,069 1,529,904 Realized and unrealized gains (losses) (2,053,941) (29,265) (2,083,206) 2,591,148 Total Operating Revenues (426,624) 244,492 (182,132) 4,416,652 Operating Expenses: Professional fees 67,560 18,181 85,741 129,874 Benefits paid 3,333,227 250,802 3,584,029 1,935,136 Total Operating Expenses 3,400,787 268,983 3,669,770 2,065,010 Operating Income (Loss) (3,827,411) (24,491) (3,851,902) 2,351,642 Non-Operating Revenues: Investment income 2,147,828 2,147,828 1,324,722 Total Non-Operating Revenues 2,147,828 2,147,828 1,324,722 Net Income (Loss) (1,679,583) (24,491) (1,704,074) 3,676,364 Fund Balances - January 1 29,986,822 3,021,556 33,008,378 29,332,014 Fund Balances - December 31 28,307,239 2,997,065 31,304,304 33,008,378 The accompanying notes are an integral part of these financial statements. C20 Town of Vail, Colorado Pension Trust Fund Town of Vail Employees Pension Trust Fund Comparative Statement of Revenues, Expenses, and Changes in Fund Balances For the Years Ended December 31, 2000 and 1999 2000 1999 Operating Revenues: Employee contributions 92,248 17,330 1 Employer contributions 1,535,069 1,529,904 Realized and unrealized gains (losses) (2,053,941) 2,129,378 ' Total Operating Revenues (426,624) 3,676,612 Operating Expenses: Professional fees 67,560 112,723 Benefits paid 3,333,227 1,733,881 Total Operating Expenses 3,400,787 1,846,604 Operating Income (Loss) (3,827,411) 1,830,008 ' Non-Operating Revenues: Investment income 2,147,828 1,324,722 Total Non-Operating Revenues 2,147,828 1,324,722 Net Income (Loss) (1,679,583) 3,154,730 Fund Balances - January 1 29,986,822 26,832,092 ' Fund Balances -December 31 28,307,239 29,986,822 1 The accompanying notes are an integral part of these financial statements. i C21 Town of Vail, Colorado Expendable Trust Fund , Deferred Compensation Plan Fund Comparative Statement of Revenues, Expenses and Changes in Fund Balances For the Years Ended December 31, 2000 and 1999 2000 1999 Operating Revenues: Contributions 273,757 278,270 ' Realized and unrealized gains (losses) (29,265) 461,770 Total Operating Revenues 244,492 740,040 Operating Expenses: Professional fees 18,181 17,151 Benefits paid 250,802 201,255 Total Operating Expenses 268,983 218,406 Excess of Revenues Over (Under) Expenses (24,491) 521,634 r Fund Balances - January 1 3,021,556 2,499,922 Fund Balances - December 31 2,997,065 3,021,556 The accompanying notes are an integral part of these financial statements. C22 General Fixed Assets 1 Town of Vail, Colorado Schedule of General Fixed Assets - 1 By Function December 31, 2000 Improvements , Other than Total Land Buildings Buildings Equipment Town of Vail General government 18,639,247 15,346,919 2,065,227 344,859 882,242 Public Safety 6,187,384 4,488,460 291,841 1,407,083 Public Works 1,660,638 1,453,442 207,196 Transportation 7,127,369 18,906 7,108,463 ' Parking 25,841,971 23,387,387 1,733,205 721,379 Facility Maintenance 52,354 52,354 Housing 5,512,087 5,490,294 21,793 Library 3,808,101 2,562,604 165,345 1,080,152 Recreation 3,644,678 3,359,336 126,761 158,581 Total General Fixed Assets 72,473,829 15,346,919 41,353,308 4,156,152 11,617,450 , i i 1 The accompanying notes are an integral part of these financial statements. C23 I General Long-Tel at Debt 1 - Town of Vail, Colorado Comparative Schedule of General Long-Term Debt ' December 31, 2000 2000 1999 General Obligation Series 1992A 5,200,000 6,000,000 Sales tax revenue bonds Series 1992B 5,805,000 6,180,000 Series 1998A 8,760,000 8,760,000 Series 1998B 735,000 735,000 Capitalized lease agreements 418,073 548,615 Accrued vacation pay 578,045 514,334 i Total 21,496,118 22,737,949 Amount available and to be provided for payment of long-term debt: Amount Available: From debt service funds 170,352 163,731 To be Provided: From sales taxes and other sources 21,325,766 22,574,218 Total 21,496,118 22,737,949 ' 1 1 1 The accompanying notes are an integral part of these financial statements. C24 ' Town of Vail, Colorado Debt Service Schedule of Bond Principal and Interest Requirements in Future Years General Obligation Refunding Bonds Series 1992A ' December 31, 2000 ' Original issue $7,500,000, interest rate 3.00% to 5.80% with June and December coupon dates. Bonds maturing June 2005 and thereafter are subject to redemption at 101 % of par value through November 30, 2003 and at par value thereafter for maturity after December 31, 2002. i Year Principal Interest Total 2001 1,000,000 306,400 1,306,400 1 2002 1,050,000 249,900 1,299,900 2003 1,150,000 189,000 1,339,000 2004 1,250,000 120,000 1,3 70,000 2005 750,000 45,000 795,000 5,200,000 910,300 6,110,300 i i 1 i i i 1 1 1 The accompanying notes are an integral part of these financial statements. C25 Town of Vail, Colorado Debt Service ' Schedule of Bond Principal and Interest Requirements in Future Years ' Sales Tax Revenue Refunding and Improvement Bond Series 1992B December 31, 2000 Original issue $15,165,000, interest rate 3.00% to 6.125% with June and December coupon dates ' Bonds maturing June 1, 2005 and thereafter are subject to redemption at 101% of par value at December 1, 2002 through May 31, 2003 and at par value thereafter. Year Principal Interest Total 2001 235,000 345,607 580,607 , 2002 260,000 331,428 591,428 2003 230,000 321,638 551,638 2004 210,000 308,738 518,738 2005 815,000 278,288 1,093,288 2006 1,315,000 213,762 1,528,762 2007 390,000 162,007 552,007 2008 415,000 137,660 552,660 2009 440,000 111,934 551,934 ' 2010 470,000 84,525 554,525 2011 495,000 55,279 550,279 2012 530,000 24,500 554,500 5,805,000 2,375,366 8,180,366 The accompanying notes are an integral part of these financial statements. ' C26 1 Town of Vail, Colorado ' Debt Service Schedule of Bond Principal and Interest Requirements in Future Years 1 Tax Exempt Sales Tax Revenue Bonds, Series 1998A December 31, 2000 ' Original principal issue $8,760,000, interest rate 4.25% to 4.45% with June and December coupon dates. Bonds maturing on and 1 after December 1, 2009 are subject to redemption prior to maturity at the option of the Town, in whole or in part in integral multiples of $5,000, and if in part in such order of maturities as the Town shall determine and by lot within a maturity, on December 1, 2008 and on any date thereafter, at a redemption price equal to par, plus accrued interest to the redemption date. Year Principal Interest Total ' 2001 386,628 386,628 2002 386,628 386,628 2003 386,628 386,628 ' 2004 386,628 386,628 2005 386,628 386,628 2006 386,628 386,628 2007 985,000 386,628 1,371,628 ' 2008 1,425,000 344,766 1,769,766 2009 1,485,000 283,490 1,768,490 2010 1,550,000 218,150 1,768,150 2011 1,625,000 149,176 1,774,176 2012 1,690,000 76,050 1,766,050 ' 8,760,000 3,778,028 12,538,028 I 1 1 ' The accompanying notes are an integral part of these financial statements. ' C27 Town of Vail, Colorado Debt Service ' Schedule of Bond Principal and Interest Requirements in Future Years Taxable Sales Tax Revenue Bonds, Series 1998B December 31, 2000 Original principal issue $735,000, interest rate 6.00% to 6.05% with June and December coupon dates. ' The bonds are not subject to redemption prior to maturity. Year Principal Interest Total 2001 44,288 44,288 2002 44,288 44,288 2003 44,288 44,288 ' 2004 44,288 44,288 2005 44,288 44,288 2006 360,000 44,288 404,288 2007 375,000 22,688 397,688 735,000 288,416 1,023,416 The accompanying notes are an integral part of these financial statements. C28 Road and Bridge 1 Fonn Approved ' The public report burden for this infonnation collection is estimated to average 380 hours annually. OMB No. 2125-0032 City or County: VAIL LOCAL HIGHWAY FINANCE REPORT YEAR Eivi)iiV(r : r December 2000 This Information From The Records Of (example - City of_ or County Prepared By: CtllC1J1llNt1 B. SluuLlrtc, CPA TOWN OF VAIL Phone: (970) 479-2119 , 1. DISPOSITION OF HIGHWAY-USER REVENUES AVAILABLE FOR LOCAL GOVERNMENT EXPENDITURE A. Local B. Local Receipts from D. Receipts from ' ITEM Motor-Fuel Motor-Vehicle State Highway- Federal Highway Taxes Taxes User Taxes Administration 1. Total receipts available ' 2. Minus amount used for collection expenses I3. Minus amount used for nonhighway purpose 4. Minus amount used for mass transit b. Remainder used for highway purposes II. RECEIPTS FOR ROAD AND STREET PURPOSES DISBURSEMENTS FOR ROAD AND STREET PURPO'Sq ITEM AMOUNT 1'1'EM AMOUNT , A. Receipts from local sources: A. Local highway disbursements: 1. Local highway-user taxes 1. Capital outlay (from page 2) 1,308,615 a. Motor Fuel (from Item I.A.5.) 2. Maintenance: 891,175 b. Motor Vehicle (from Item I.B.5.) 3. Road and street services: c. Total (a.+b.) a. Traffic control operations 171,610 2. General fund appropriations 0120,502,424 b. Snow and ice removal 732,188 3. Other local imposts (from page 2) c. Other , 4. Miscellaneous local receipts (from page 21 691,170 d. Total (a. through c.) 903,798 5. Transfers from toll facilities 4. General administration & miscellane 122,585 6. Proceeds of sale of bonds and notes: 5. Hig way law en orcement and sa et 846,742 a. Bonds - Original Issues 6. Total (1 through 5) 4,072,915 ' b. Bonds - Refunding Issues B. Debt service on local obligations: c. Notes 1. Bonds: d. Total (a. + b. + c.) 0 a. Interest 7. Total (1 through 6) 3,847,406 b. Redemption ' B. Private Contributions c. Total (a. + b.) 0 C. Receipts from State government 2. Notes: (from page 2) 225,509 a. Interest D. Receipts from Federal Government b. Redemption ' (from page 2) 0 c. Total (a. + b.) 0 h. "total receipts (A.7 + B + C + D) 4,0'/2,915 3. 't'otal (1.c + 2.c) ~ 0 C. Payments to State for highways D. Payments to toll facilities E. Total disbursements (A.6 + B.3 + C 4,0'/2,91 S IV. LOCAL HIGHWAY DEBT STATUS (Show all entries at par) Opening Debt Amount Issued Redemptions Closing Debt A. Bonds (Total) 0 1. Bonds (Refunding Portion) ' B. Notes ('total) Notes and Comments: r FORM FHWA-536 (Rev. 12-96) PREVIOUS EDITIONS OB~ui_r.TE (Next Page) ' C29 STATE: Colorado ' LOCAL HIGHWAY FINANCE REPORT YEAR Elvliuvt.r (mm/yy): December 2000 II. RECEIPTS FOR ROAD AND STREET PURPOSES - DETAIL ' ITEM ITEM ANivui,4 it A.3. Other local imposts: A.4. Miscellaneous local receipts: ' a. Property Taxes and Assesments a. Interest on investments b. Other local imposts: AMOUNT b. Other 1. Sales Taxes c. Transfers 2. Traffic Fines d. Capital Credits 3. Specific Ownership Tax 160,385 e. Sale of Assets 4. Motor Vehicle Registration 27,403 f Fees/Licenses/Permits 5. From Cities/Counties 466,024 g. Service Performed 6. Total (I. through 5.) 653,812 h. Refunds of Expenditures 691,170 c. Total (a. + b.) 653,812 i. Total (a. through h.) 691,170 (Carry forward to page 1) (Carry forward to page 1) ITEM AMOUNT ITEM AMOUNT C. Receipts from State Government D. Receipts from Federal Governm 1. Highway-user taxes 225,509 1. FHWA (from Item I.D.5.) 2. State general funds 2. Other Federal agencies: 3. Other State funds: a. Forest Service a. State bond proceeds b. FEMA I b. Project Match c. HUD c. (Specify) d. Mineral Leasing d. (Specify) e. Pay Lieu of Tax e. (Specify) f Other Federal ' f Total (a. through e.) 0 g. Total (a. through f.) 0 4. Total (I. + 3.fl 225,509 3. Total (I.+ Z.g) (Carry forward to page 1) ' III. DISBURSEMENTS FOR ROAD AND STREET PURPOSES - DETAIL ON NATIONAL OFF NATIONAL ' HIGHWAY HIGHWAY TOTAL SYSTEM SYSTEM (a) (b) (c) ' A.1. Capital outlay: a. Right-Of-Way Costs 0 b. Engineering Costs 94,189 94,189 c. Construction: (1). Capacity Improvements 0 (2). System Preservation 1,214,426 ( .1,214,426 (3). Safety And Other 0 (4). Total Construction (1)+(2)+(3) 0 1,214,426 1,214,426 ' d. Total Capital Outlav (Lines I.a. + l'.b. + 1.c.4) 0 1,308,615 1,308,615 (Carry forward to page 1) Notes and Comments: r FORM FHWA-536 (Rev.12-96) PREVIOUS EDITIONS OBSOLETE C30 UNDERTAKING TO PROVIDE CONTINUING DISCLOSURE 1 1 1 1 1 1 1 1 1 1 ' Town of Vail, Colorado Issuer's Annual Report ' Update of Official Statement Tables to be Updated Tables 1,111, and IV December 31, 2000 TABLET Debt Service Coverage 1996 1997 1998 1999 2000 1 Pledged Revenues $13,719,308 $14,747,419 $15,030,386 $14,509,421 $15,232,587 Maximum Annual Debt Service $2,324,453 $2,324,453 $2,324,453 $2,324,453 $2,324,453 1 Coverage Factor 5.90x 6.34x 6.47x 6.24x 6.55x ' TABLE III History of Town 4% Sales Tax Receipts ' Sales Tax Percent Y WlectinnLW Increase 1996 $ 13,719,308 - ' 1997 $ 14,747,419 7.49% 1998 $ 15,030,386 1.92% 1999 $ 14,509,421 -3.47% 2000 $ 15,232,588 4.98% ' (1) The reported Sales Tax Collections vary from the sales tax revenues reported in the Town's audited financial statements because one-time payments of sales tax on, for example, the sale of business assets or the ' settlement of a sales tax claim, are not included above. ' TABLE IV Monthly Comparison of Collections of Sales Tax ' 12-month Period Ended 12-month Period Ended December 31, 1999 December 31, 2000 Percent Change Current Year Current Year Current Year ' Month Month To Date Month To Date Month To Date January $2,066,459 $2,066,459 $2,034,529 $2,034,529 -1.5% -1.5% February 2,021,486 4,087,945 2,223,670 4,258,199 10.0% 4.2% March 2,415,202 6,503,147 2,545,573 6,803,772 5.4% 4.6% ' April 952,843 7,455,990 926,771 7,730,543 -2.7% 3.7% May 370,864 7,826,854 388,121 8,118,664 4.7% 3.7% June 692,811 8,519,665 721,774 8,840,438 4.2% 3.8% July 1,130,883 9,650,548 1,235,470 10,075,908 9.2% 4.4% ' August 1,050,004 10,700,552 1,038,516 11,114,424 -1.1% 3.9% September 806,600 11,507,152 817,313 11,931,737 1.3% 3.7% October 536,204 12,043,356 547,201 12,478,938 2.1% 3.6% ' November 582,260 12,625,616 691,445 13,170,383 18.8% 4.3% December 1,883,805 14,509,421 2,062,205 15,232,588 9.5% 5.0% ' Undertkg D 1 Town of Vail, Colorado Issuer's Annual Report Update of Official Statement Tables to be Updated Tables V and VI ' December 31, 2000 TABLE V ' Sales Tax Collections by Principal Sales Tax Generators Annual Sales Tax Total Annual % of Total Annual Sales Tax , Paid By Ten Sales Tax Collected Collections Generated by Year Princinal Cenerators by Town Ten Princinal Generators 1996 $ 4,066,258 $ 13,719,308 29.6% 1997 $ 4,315,365 $ 14,747,419 29.3% ' 1998 $ 4,640,560 $ 15,030,386 30.9% 1999 $ 4,590,537 $ 14,509,421 31.6% 2000 $ 4,866,152 $ 15,232,588 31.9% , TABLE VI , Capital Projects Fund 2000 Actual Projected 2001-2004 2000 2001 2002 2003 2004 , Revenues: Sales tax $6,608,497 $6,685,065 $6,919,042 $7,161,209 $7,411,851 Federal grants 49,425 397,223 275,000 300,000 230,000 ' CDOT reimbursement 1,000,000 Interest on investments 551,445 Leases - Vail Commons 139,480 149,480 149,480 149,480 149,480 ' Buy-Down program 117,511 1,000,000 1,000,000 1,000,000 1,000,000 Sale of Arosa Garmisch units 1,117,500 Other 774,470 112,340 237,340 100,000 100,000 Total Revenue 8,240,828 9,461,608 9,580,862 8,710,689 8,891,331 ' Expenditures: Equipment purchases 1,463,559 3,104,122 1,914,507 1,782,372 1,346,000 Maintenance 855,757 1,185,000 1,000,000 750,000 771,000 ' Master planning 56,575 Street reconstruction 1,268,548 475,000 675,000 1,675,000 2,450,000 Buildings and improvements 516,867 1,122,000 4,815,000 740,000 959,000 Housing programs 2,456,854 ' Streetscape projects 141,581 500,000 1,600,000 Housing programs 1,500,000 1,100,000 1,100,000 1,100,000 Other improvements 222,424 210,000 185,000 185,000 165,000 Transfer to Debt Service Fund 2,288,506 2,324,908 2,328,929 2,334,053 2,332,153 ' Total Expenditures 9,270,671 10,421,030 13,618,436 8,566,425 9,123,153 Revenues Over (Under) Expenditures (1,029,843) (959,422) (4,037,574) 144,264 (231,822) ' Beginning Fund Balance 7,856,560 7,856,560 7,856,560 7,856,560 7,856,560 Residual equity transfers 1,797,768 Ending Fund Balance 8,624,485 6,897,138 _ 3,818,986 8,000,824 7,624,738 ' Undertkg D 2 Town of Vail, Colorado Issuer's Annual Report Update of Official Statement Tables to be Updated Table XIX December 31, 2000 TABLE XIX History of General Fund Revenues, Expenditures, and Changes in Fund Balances 1996 1997 1998 1999 2000 ' Revenues: General sales taxes $ 8,444,073 $ 7,990,079 $ 8,298,951 $ 8,113,554 $ 8,760,101 Property and ownership taxes 1,925,326 1,985,938 2,078,382 2,157,937 2,243,281 Resort fees 1,024,537 2,065,245 2,043,210 1,710,061 1,961,723 Franchise fees 530,692 533,894 548,385 564,419 576,904 Penalties and interest on delinquent taxes 3,804 3,219 27,425 23,256 29,350 Licenses and permits 921,324 854,586 784,934 601,025 695,711 Intergovernmental revenues 1,149,716 1,641,425 1,618,425 1,438,282 1,376,493 Charges for services 329,860 328,415 663,163 212,488 2,217,293 Fines and forfeits 277,408 212,815 235,954 223,748 279,367 Interest 316,638 276,107 277,779 184,028 391,781 Rents 143,706 151,461 152,877 119,953 427,329 Other 145,212 170,823 148,296 338,322 161,024 Total 15,212,296 16,214,007 16,877,781 15,687,073 19,120,357 Expenditures: General government 4,400,425 4,633,475 4,722,337 4,892,726 4,342,608 Public safety 4,180,163 4,259,775 5,228,940 4,614,427 4,933,470 Public works and transportation 4,248,902 4,950,572 4,622,108 4,564,004 7,156,067 Economic development and community assistance 888,959 888,680 1,518,937 1,145,971 900,001 Municipal library 589,419 552,628 599,557 661,636 716,577 Total 14,307,868 15,285,130 16,691,879 15,878,764 18,048,723 Excess of Revenues Over ' (Under) Expenditures 904,428 928,877 185,902 (191,691) 1,071,634 Other Financing Sources (Uses): Capital leases 8,210 10,665 Operating transfers out (917,650) (89,494) (1,026,162) (490,465) Total (909,440) (89,494) (1,026,162) (479,800) Excess of Revenues Over (Under) Expenditures and Other Financing Sources (Uses) (5,012) 839,383 (840,260) (671,491) 1,071,634 Fund Balances: Beginning 4,329,934 4,324,922 5,164,305 4,324,045 3,652,554 Residual equity transfers 121 Ending 4,324,922 5,164,305 4,324,045 3,652,554 4,724,309 ' Undertkg D 3 Town of Vail, Colorado Issuer's Annual Report Update of Official Statement Tables to be Updated Tables XX and XXI December 31, 2000 TABLE XX General Fund 2000 and 2001 Budget Summary and Comparison 2000 Amended 2000 2001 Budget Actual Budget Revenues: General sales taxes $8,593,000 $8,760,101 $8,893,755 Property and ownership taxes 2,255,552 2,243,281 2,567,758 Resort fees 1,890,000 1,961,723 1,927,800 Franchise fees 579,460 576,904 581,785 Penalties and interest on delinquent taxes 25,000 29,350 23,700 Licenses and permits 710,377 695,711 725,400 Intergovernmental revenues 1,405,526 1,376,493 1,384,253 Charges for services 1,975,214 2,217,293 2,171,841 Fines and forfeits 300,199 279,367 209,458 Interest 275,000 391,781 185,000 Rents 420,258 427,329 498,311 Other 85,644 161,024 85,850 Total 18,515,230 19,120,357 19,254,911 Expenditures: Town officials 1,058,049 977,542 1,130,020 Administrative 2,223,165 2,169,297 2,193,585 Community development 1,254,671 1,195,769 1,261,913 Public safety - Police 3,833,291 3,607,220 3,772,027 Public safety - Fire 1,446,244 1,326,250 1,413,978 Public works 2,289,912 2,174,096 2,380,252 ' Public transportation 2,641,397 2,639,831 2,886,000 Parking 370,359 399,260 372,739 Facility maintenance 2,023,098 1,942,880 2,166,164 Public library 729,048 716,577 753,121 ' Contributions and special events 940,930 900,001 780,420 Total 18,810,164 18,048,723 19,110,219 Revenue Over (Under) Expenditures (294,934) 1,071,634 144,692 Beginning Fund Balance 3,652,554 3,652,554 4,724,309 Residual equity transfers 121 Ending Fund Balance 3,357,620 4,724,309 4,869,001 TABLE XXI , Outstanding Revenue Obligations Outstanding Ism Principal Sales Tax Refunding and Improvement Bonds, Series 19928 $5,805,000 Tax-Exempt Sales Tax Revenue Refunding Bonds, Series 1998A 8,760,000 Taxable Sales Tax Revenue Refunding Bonds, Series 1998B 735,000 ' Total $15,300,000 Undertkg D 4 , A 1. To: Vail Town Council From: Staff: Bob McLaurin, George Ruther, Russ Forrest Date: June 19, 2001 Subject Vail Center Capital and Operating Budget 1. PURPOSE The purpose of the June 19th evening meeting on the Vail Center is to request the Town Council's direction on the questions in attachment A which are primarily focused on: • The program uses i.e., recreation, culture, and education, that should be included in the directions to the design team • Time frame for construction - Do you want to be able to build something regardless of private fund raising. • Basic Financing Questions (Do we need to explore other revenue sources if donations are reduced, viability of RETT) 2. PROJECT OBJECTIVES • The facilities plan will build upon the community facility ideas and lands that have been identified through community surveys and the Vail Tomorrow, Common Ground, Lionshead Master Plan, and other community processes. • The facilities programming will complement both recreational (e.g., skiing and mountain sports) and cultural (e.g., art, performing arts) amenities that exist in the Vail Valley so as to create a world class network of community facilities in the Valley. • The facilities shall be outstanding in their design and programming. Potential residents and guests would be drawn to Vail because of them. These should be unique facilities. • The facilities will serve both Vail Valley residents and guests. • Public-private partnerships will be pursued to finance the development of the facilities. 3. 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 2nd sheet of ice, a family activity center, learning/meeting/performing arts facility (convertible floor space which can convert into either a meeting space or a performing arts/event venue), and affordable housing. • On July 18, 2000 the Town Council eliminated alternative 3 from further consideration. ~ M • On August 1, 2000 the Town Council directed staff to move forward with a 2001 ballot initiative. • On August 1, 2000 the Town Council directed 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 in a phase 2 plan if the market demonstrated it was necessary to make the meeting center operate successfully. - Identify alternative mass transit technologies to move people more efficiently along the in-town route. • On August 15, 2000 the Town Council directed the Town Manager to sign a contract 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." • On May 23, 2000 and on September 5, 2000, the Town Council decided to stay with the existing design team. The Council did indicate that obtaining a third party designer to provide a critique of the design and to enrich the thinking of the design team would be valuable. • On December 12, 2000 the Town Council indicated its support for the concept paper. • On December 19, 2000 the Town Council developed a square footage and use "wish list." • On February 71h, 2001, the Town Council reviewed a draft contract with EDAW and reaffirmed its interest in moving forward with the existing design team. • On March 6th the Finance Team reviewed the capital and operational plans with the Town Council. • On April 17th the Town Council gave direction to move forward with a design contract with EDAW to design the Vail center to include a: 2"d Sheet of Ice, Skate park, Youth Center, climbing wall, meeting facility with break out space, limited retail to support the facility, 300 seat theatre, and approximately 15 units of affordable housing. • On May 8th, the Town Council directed staff to evaluate eliminating the 300- seat theatre and to place a theatrical fly on the 20,000 square foot meeting room. • On May 22, 2001 the Town Council decided not to have a facilitated meeting but rather to vote on each element of the Vail Center program on June 19tH 4. Question and Answers On March 6'h Council asked a variety of questions. Attachment B summarizes those questions and answers and includes a series of frequently asked questions. Y 5. PERFORMING ARTS On June 4th, a cross section of performing arts interests met at the Vail Library to discuss what the Vail Center should provide in the way of performing arts. After a very constructive discussion the following conclusions were reached: - A space should be reserved for a 1,300 seat theatre - A 200-seat auditorium should be included into the conference space. - A 10-year cultural arts plan should be developed for Vail. - Make the 20,000 square foot space performance-friendly (stage, sound system) - Concept A is clearly the preferred alternative. 6. CAPITAL COST ESTIMATES Two different cost estimators, ARC and Hansel Phelps, have reviewed the Vail Center program elements identified by Council in December and developed cost estimates for those uses (Attachment C). Since March 6th staff and individual Council members have met with representatives of Vail Resorts to discuss the Lionshead Parking Structure. At this time staff would propose eliminating the parking costs of $14.5 million and allow Vail Resorts to further investigate redeveloping the Lionshead Parking Structure. This idea is only viable if Council conceptually accepts the idea of developing for sale development above the parking structure. Below are three Alternatives. Alternative A: integrates the public uses with a new parking structure. The square footage for the meeting space went up because it includes additional space for a 200 seat auditorium, more space than anticipated for pre convene space, larger kitchen and loading and delivery. The cost for the ice rink did decrease in Alternative A after further analysis. Alternative A With Phasing: Phase one would include: 1) 20,000 square foot ballroom, 2-5,000 square foot break out spaces, 1 Board room 2) Reserving space for a 1,200 seat performing arts facility 3) Break out space 4) Recreational Uses (Ice, Skate Park, Youth Center, Climbing Wall, Indoor Playground) 1 Phase Two would include (This could be created as soon as dollars are generated for capital and operation): 1) Construction of a performing arts facility 2) Phasing in additional breakout/learning center space utilizing the Library and space currently on the 2"d floor of the conference facility. This space includes a 1200 square foot planning room, 2500 sq. ft. dialogue room, 1000 sq. ft. class room, 2nd 400 square foot boardroom, 1000 square foot reading room, 3000 square foot learning studio, 3000 square foot learning studio, 1000 sq. ft. business center, and a 1000 square foot technology center. Alternative B: Alternative B includes the original public uses considered on April 17th. Opportunities do exist to phase some of the additional space such as the 3000 square foot learning studio, 1000 sq. ft. business center, and a 1000 square foot technology center above the Library. However, there would not be the opportunity to fit or to phase in a 1300 seat performing arts facility. Alternative B does still include a 300-seat theatre. Council may choose to eliminate this use completely given the discussion with the Arts community. Costs of Alternatives &MTWyof Co6tS Scenario A Ste, a'.o A Soenario B Wth Phasing Corfr,Ca $ 21,088,024 $ 21,088,024 $ 19,462,571 Add. outneaming $ 3,619,200 $ - $ 1,913,344 Ti Arts $ - $ - $ 11,530,975 Rcucadon $ 12,441,395 $ 12,146,027 $ 19,341,906 Retail $ - $ - $ - Outdoor Amenities(Street Scape $ 3,239,010 $ 3,239,010 $ 5,836,929 Subtotal $ 40,387,629 $ 36,473,061 $ 58,085,725 Cther Costs (soft, escalation) $ 18,584,439 $ 16,759,937 $ 26,641,129 R a Mng $ 2,710,936 $ 2,636,650 $ 3,157,826 Wrldng Capital $ 2,500,000 $ 1,500,000 $ 2,0001000 Parking 500 newpublicsp 500 newpublicsp 0 "Gad spat Total $ 64,183,004 $ 57,369,648 $ 89,884,680 je Y Revenue for Alternatives &mmry of lae emie S.Gw.;oA ScnarioA S-c..M;oB Wth Phasing MIS 3 rrils 3 ails 3 ails. Property Tax $ 2,100,000 $ 2,100,000 $ 2,100,000 Capital Fund Payment $ 1,300,000 $ 1,500,000 $ 1,500,000 Carfl. ~ ST a $ 153,075 $ 302724 $ 365,667 $ 24Q000 $ 250,000 $ 800,000 Total/Yew $ 3,793,075 $ 4,152,724 $ 4,755,667 TOVBmds $ 50,574,333 $ 55,36Q648 $ 63,542,227 Pa dog $ - EndoNnent Dor-eficns $ 13,608,671 $ 2,000,000 $ 25,177,446 Total-Private $ 13,608,671 $ 2,000,000 $ 26,177,446 Total $ 64,183,004 $ 57,369,648 $ 89,719,673 A new revenue source may be possible that involves creating a surcharge on booking the conference facility and/or hotel rooms used with the conference facility. Staff would like the opportunity to further explore this option. The maximum financial flexibility is provided with altemative A in terms of phasing uses. The ability to provide a space for a larger performing arts space only is accommodated with alternative A. However, it should be recognized that the public has not had an opportunity to review the existing site plans. Also the design team was directed to stop further work on design after the May 8th worksession. After a decision is made on the uses on June 19th additional public input on the site plan and floor plans is needed. In addition, input is needed from Vail Resorts on their interest in alternative A. An alternative C (i.e. a new alternative) may be required after receiving additional input from the public and/or Vail Resorts. 7. OPERATIONAL FINANCIAL PLAN Since March 7th the Financial Team has developed a 5-year operational plan. The operational plan presented on March 7th reflect the documented lost business and correlates to year 1 of operation in the table below. Attachment D summarizes the five year plan prepared and the operational numbers for the 15t and 5th year. Taking the most conservative Alternative of year 1 of operation there would be 59,700 of net new room nights. At this level of use regardless, assuming a phased approach, the Vail Center should be able to break even with the following assumptions: • VVTCB markets the facility utilizing their existing budget plus the additional incremental lodging tax revenue generated by the Vail Center • VRD operates the recreational facilities. VRD would develop a fee structure that would allow them to break even on the uses. VRD needs a long-term agreement to operate the recreational uses. • The additional meeting space that would be beneficial for the learning programs is funded for by private dollars and a private endowment is created to help pay for the operational costs of this space. • Development of significant performing arts is funded and operated through private dollars and a private development. In the last 3 weeks staff has asked the two largest conference center operators Spectrum Group and SMG to review the operational assumptions and ERA to review the numbers. Both feel that the Vail Center would be a financially viable project. ERA also still believes the project will be successful and could break even from an operational standpoint. A business plan is also being prepared to better articulate the operational structure and financial plan. 8. PUBLIC INPUT Based on the schedule developed in April, staff was planning additional public meetings to discuss design and financing. These meetings did not move forward because of the May 8th worksession. However, we did receive valuable input from the arts community and Vail merchants. It would be reasonable to have additional public input on at least the site planning and the financial input. However, responding to that input by July 24'n will be a challenge. An important question that staff has in attachment A is what additional public input would Council want prior to July 24th. Staff can bring back some additional ideas on public input opportunities at the next worksession. 9. DESIGN Further work on design was stopped on May 8th. Site plans and floor plans have been developed. It would also be possible to develop a massing model. However, it may not be possible to develop elevations and architectural renderings in time to receive public input prior to July 24th. In addition, the Council may choose to explore other design alternatives. Based on Council input on the 19th staff will direct the design team to make the appropriate revisions in site planning and floor plans so that additional public input can be received. In addition, further refinement of the cost estimates will be necessary prior to framing a ballot question. Staff wanted to communicate that multiple iterations of design and public input will not be possible prior to July 24th. However we can make modest changes to the plans and display them through floor plans, site plans, and massing models. 1 0. BENEFITS OF DEVELOPING THE VAIL CENTER • Development of a community crossroads where residents and guests can enjoy recreation, learning, and culture. • $26-$39 million in additional spending per year by additional business that would be generated from the facility and $1-1.5 million in additional sales tax. • The facility will generate an additional 59,000 to 90,000 room nights. This facility will provide additional business in shoulder seasons and provide greater stability for our employee base. • This will provide additional amenities for guests and residents which will be critical to achieve the Town's vision of being "The premier mountain resort community." • Multiple funding sources will be used to fund the Center and the plan leverages private funding. • Younger seasonal employees have identified creating additional activities as a critical need along with affordable housing to their overall satisfaction. In other words this could help attract and retain quality employees based on survey work the Vail Village merchants conducted. Attachments: A. Decision Matrix B. Questions and Answers C. Uses and Costs D. Operational Plan reviews and years 1 and 5. E. Letter on Parking from Arnie Ullvig F. Letters from meeting planners and hotels F:\cdev\COUNCIL\MEMOS\01 \COMFAC619memo.doc r ~ Attachment A Decision Matrix Vail Center June 19, 2001 Decision Space/Description Summary Comments Council Decision Costs Yes/No (Hard Costs) Uses Phase 1 Phase 1 assumes that uses can be built without private fund raising within 1-2 years of voter approval Conference 20,000 ballroom with $21 million This is the space Ball room- SDac with (1) 5000 sq. ft break out A/$19million needed for a viable 2 break rms. - and (1) 6000 sq. ft break out conference facility Auditorium Auditorium Recreation Climbing Wall $697950 2"d Sheet of Ice $6,6 million hard cost + .745 million Skate Park (Enclosed) $3.1 mil. Hard cost Youth Center $1.3 mil. (hard cost) Phase H Adequate space for a 14000 $40-$50 Built when private seat performing arts facility million dollars raised for capital and operating endowment Phasing in additional $3.6 million This can be phased breakout/learning center space in and still maintain utilizing the Library and space a viable conference currently on the 2nd floor of the facility. conference facility. This space includes a 1200 square foot planning room, 2500 sq. ft. dialogue room, 1000 sq. ft. classroom, 2"d 400 square foot boardroom, 1000 square foot reading room, 3000 square foot learning studio, 3000 square foot learning studio, 1000 sq. ft. business center, and a 1000 square foot t' f technology center. Finance If Alternative A is explored - do you support private development on the site to pay for the parking? Does the Council want staff to This could disperse explore other financing the payment of public opportunities i.e., conference facilities. surcharge, Food and Beverage, lodging tax Do you support for sale parking if through shared ownership and the use of valet parking it can be more fully utilized? Ownership Do you want the Town to own This alternative will the land and the maximize TOV improvements and contract control and with an operator severely limit private funding Do you want the Town to own This is the staff the land and allow a 501 c-3 recommendation. It build and own the assumes securing improvements? public access through an annual review by the TOV on booking policy and maximizes fund raising possibilities. Next Steps Do you want the Design Team and cost estimating team to update the design and capital costs in preparation for a July 24 decision on whether to move forward with a November vote. Do you want additional public input on the design and financing. Attachment B Question and Issues From the March 6th Town Council Meeting Operational Issues: 1. How will we assure community access? Response: There are four ways community use of the facility will be insured: A. An endowment is proposed to offset the costs for community groups. B. The Vail room and other break out space will be fully utilized by meetings 27% of the year (98 days). The other 73% (267 days) of the year the facility will be available to community groups and learning center programs (see attached chart). The learning center programs average 30-40 people per group so there is still plenty of space for other community functions. C. Booking guidelines • TOV would have 10 days to book the facility at anytime on an annual basis. • Established not-for-profit groups have the ability book space annually every year. They would also have the opportunity to apply for a grant that would defray the cost of booking the space. There are approximately 30 groups that book event space in Vail today. • From October to May, Vail not-for-profit groups could book space up to 12 months ahead of time. • From June to September, Vail not for profit groups could book space up to 6 months ahead of time. (The operating 501 C-3 would determine Vail not-for-profit status and set a rate for community groups. They would also determine grants for community groups to utilize space at no cost) D. It is recommended that a Foundation be created to operate the Vail Center. It is further recommended that two Council members sit on that Foundation to help ensure that community accesses is accommodated. ~ S 2. The current operating plan has a very conservative estimate for additional sales tax generation. Is there a range and what is the upper limit of that range? The Table below is a 5 year operating model for the Vail Center. CONF. CIR CONF. CIR. OUT OF TOWN SALES 4% SALES 1.40% _ - NET orkkATING GROSS NET(*) NE]r TAXABLE TAX LODG RS YEAR REVENUES RNL NIGEIIS RNL NIGHTS VbiiuttS SAM REVENUES TAXREVS 1....-.... $209,005 - 79,600 59,700 _..........._.._.127,842 $27,221,641 $1,088,866 $138,167 2 $228,948 90 800 68100 143,718 $30,618,343 $1,224 734 $155 807 3 $242,656 99,200 74,400 155,625 $33,165,870 $1,326,635 $169 037 .......................................................................0...,4.... 00 .....................82...,............................ 171...,.....501.. $36.. 562.,.573 $1 ....,.462.......,..........$186.. 4 $257, 599 11 800.... 503 677... 5 $266,306 118,800 89,100 183,408 $39,110,099 $1,564,404 $199,907 A 25% oFALiu-KHAS BEEN tJSIDTO ACCOUNT FORAROOMNIGUDISPLACII 0,11. 3. How does the Town maintain control of Vail Center? Response: A fundamental question is how much control does the Town want? It is recommended that the Town Council approve of a set of broad operational guidelines that are incorporated into a lease and a deed restriction for the land to ensure that there is community access to the facility. In addition, it is recommended that the Town Council have two members on the 501 c-3 board that could potentially operate the facility. This provides a significant amount of control while also creating an independent 501 c-3 to operate the facility which would be much more likely to generate ongoing private support for the Vail Center. Capital and Financing Issues : 1. Break out the cost of the 2"d sheet of ice versus the additional cost incurred by building over the ice rink. Response: The cost of the ice rink would be approximately $4.2 million (versus $6 million) if it did not have to support additional structure over the building. 2. Determine the anticipated maintenance and repair cost of the existing Lionshead Parking structure so that we can compare the costs of a new structure Response: Currently the annual capital maintenance cost for Lionshead is $30,000-$50,000 per year. It is anticipated that the Lionshead structure will need a $4-$5 million "redecking" and remodel that would include elevators and bathrooms in the next 10 years. If a new structure were created today, the capital maintenance costs would be approximately $10,000/year for the Y 1 first 3-5 years and then would increase to the current amount. In other words there is not a significant cost savings on capital maintenance of building a new parking structure versus maintaining the existing structure. 3. Determine what VR's financial commitment will be to this project. Response: VR has committed to doing a feasibility study to create a new parking structure (2300 spaces) which could help the overall parking demand and potentially eliminate the $14.5 million cost the Vail Center is carrying for parking. VR will also pursue other ideas for supporting the project. 4. Determine value of condominiums and fractional fee units. Response: The current Vail Center proposal does not include for-sale housing. However, the finance team has spent considerable time talking to developers in East West Partners, Slifer, Smith, and Framption and have the following conclusions on this issue. • A time-share product could be successful on the site. The ERA market analysis also confirms that. • The absorption rate in Vail could potentially accommodate 40,000 to 50,000 square feet. There may be the physical capacity of 120,000 square feet. Further design work is needed to determine the physical viability of this. • The easiest approach would be for the Town to sell the air rights of this land. The land value of 72,000 square feet of private development is approximately $9 million. • If the Town decided to be the developer, the potential value of the land and the net return on the development is $22 million- $25 million. 5. Lobby space seems too big. Response: This will be evaluated in greater detail during the design process. 6. Two Council members expressed concern over the use of RETT dollars for recreational uses. Response: One capital Plan alternative does not use RETT dollars. The other alternative only uses it for landscaping and streetscape. This is a political decision for the Town Council to make. 7. How could parking used for private fund raising also be available for the public when not used by a donor. Response: Parking spaces have proven to be a valuable component in fund raising programs. Without parking spaces, the private giving may be reduced by 25% to 33%. One idea to address this issue would be to utilize these spaces for public valet parking. So if the owner of a space wanted to use it, a valet could ensure that it is available. Another idea is to have fractionalized ownership so that donors obtain the number of days parking that they would actually use based on the value of their contribution. There is not a comparable example that staff can find for this idea, so it would be hard to determine the impact to the fund raising campaign. Through some form of shared ownership and a managed parking area there is the opportunity to optimize the parking. 8. Determine housing demand and how to accommodate that demand. Staff conservatively (on the high end) believes that 70 FTEs would be generated. To meet the Town's standard of 30%, 23 employees would need to be provided housing. It is suggested that this housing could be financed through the housing authority. See summary of housing costs and revenue below: Type d E4ojm Yea-ra rd a IoYreES ....:.:...:.......1... Pat tirrearfiq(ffis FE) 51 is 7Q.... Ffx.sirig CA ~ a 3~/o cf tctd 2.3 ; (bd for HoWng Sze d•2 iw I 1 Nf-Ad(7~st/2iml~~o $ 1 6Q(X- F46W 2 $ 64,00D Tctel Cost $ 1,=283 D& Ssvos~Yea 7%at25ye $13QCID N6~oL $240) . Tatd Cbst/yeEr $154 OOD FL~erxe F~ tMtrth $ffD f~-t F eryea $ 'ffi VC ~y NA Fie $ 154,891.97 ......................................................$.........9t~1... 1 9. What is the parking demand and how can it be accommodated Arnie Ullvig calculates the additional parking demand at 163 spaces (See attachment E). Vail Resorts is working with the Town to further evaluate the feasibility of a new parking structure that could accommodate approximately 2300 spaces. This Alternative would include private development above a new structure to offset a portion of the cost for a new structure. Another Alternative is to not provide additional parking but manage the events at the Vail Center in the March time frame to prevent additional parking on the frontage rd. In addition, developing permanent or seasonal parking in other areas of Town can also address the additional need for parking generated by the Vail Center and skiers . 10. Is there a skatepark in Financial Plan? Yes there is a skatepark in the plan. $2.5 million is proposed if the existing parking structure is maintained to put a 20,000 square foot skate park above it. The design team will need to work on how it could be enclosed and architecturally fit with the parking structure and the Vail Center. If the parking structure were rebuilt the skate park would be easier to integrate with the rest of the facility. 11. How does the Vail Center fit with all the other Vail Renaissance needs? The Vail Center is only one part of the Vail Renaissance program. Moving forward with the Vail Center will not impact the other areas of the Renaissance Program. The following is as summary of how the pieces fit together: Lionshead: The Lionshead Master Plan and new zoning for Lionshead has been completed which provides incentives for redevelopment. The catalyst for the $8 million in new streetscape and other public improvements in Lionshead is the new high-end hotel proposed in the plan on the former Gondola building site. The Antlers was the first property to redevelop under the new Master plan and they are currently under construction. The Marriott has also been approved for Redevelopment and is currently replacing 63 hotel rooms that were impacted in the fire. The owners of Concert Hall plaza and Vail 21 are actively looking at redevelopment. A work session is being scheduled to request input by the Town Council on public financing for Lionshead. The Vail Center is the major public component of the Lionshead Master Plan. Vail Villaae: The Sonnenalp is proposing a major addition that will create a new retail frontage along East Meadow Drive. In addition, the Chateau at Vail will be resubmitting new plans for a hotel. Crossroads is Y contemplating a new development that could include a park or public plaza in the area that is currently a parking lot. In addition, Vail Resorts is moving forward with their planning on the Vistabahn ski yard and P-3&J that would include improving loading and delivery and skier services. East and West Meadow Drive: The Town is completing streetscape planning on East and West Meadow Drive. This will provide an attractive corridor between Lionshead and the Village. The proposed redevelopment of the Chateau at Vail and the Hospital along with the development of the Vail Center will complement this streetscape plan and facilitate a strong connection between our commercial core areas. Lodaina Qualitv: Consistent quality of lodging accommodation is a critical issue in Vail. Lodging is also critical to the Vail Center to support the facility. In addition the Vail Center will increase room nights in Vail by 59,000 to 90,000 room nights. A major barrier to redevelopment of hotel properties was that the underlying Public Accommodation District simply did not facilitate economically viable hotel development. New standards have been put in place in both the Village and Lionshead that encourage redevelopment of hotel properties consistent with the design review goals of the Town. New redeveloped hotels are at various stages of planning for the Gondola building site, concert hall plaza, Chateau at Vail, Vail Plaza Inn, Evergreen, and Sonnenalp. In addition, a lodging quality initiative has been successfully started to encourage property owners to upgrade room quality and to communicate to guests the quality of lodging units. Other Actions: Other critical actions that are moving forward include: • Enhanced maintenance and clean-up in the commercial areas of Vail A program to improve way finding (directional signage) is being implemented. • Additional loading and delivery is being integrated into commercial redevelopment. • $10 million Amphitheater redevelopment • Improving retail quality, quantity, and diversity is being actively worked on by commercial property owners, the Town of Vail, and Vail Resorts. A report is due out in June with specific recommendations. • Planning is occurring to identify the next technology for the in-town shuttle 12. Do We Need a Conference Facility/Will It be successful Economic Research Associates' study, dated March 2000, strongly recommended developing a meeting facility to improve shoulder season business and to overall improve Vail's low lodging occupancy, currently under 60%. The VVTCB has documented lost business and has received letters from meeting groups stating they would come to Vail if we had a facility that is proposed in the Vail Center. Additional meetings have occurred in the last 6 months to confirm the interest of meeting r ~ planners. Attached are letters of support from meeting planners and existing hotels for this type of a facility. Another concern expressed is will the Vail Center attract business to Vail that is comparable to our winter guest. Typical meeting participants will have a similar economic demographic, on average, as our winter guest. In other words, on average, they have a family income over $100,000. S pttachm 3 Aiternatives Uses and Costs. I Ht VAIL ULN 1 tK PLAN A: CAPITAL COSTS AND FUNDING SOURCES - SUMMARY FACILITY/COST DESCRIPTION ESTIMATED CAPITAL COSTS BY FACILITY SQ. EST. BASE SOFT WORKING BONDING FEET COSTS COSTS COSTS FIFE INFLATION CONTING. CAPITAL COSTS TOTAL CONFERENCE SPACE 106,763 $21,088,024 21,088,024 2,741,443 1,265,281 3,011,370 2,810,612 1,000,000 1,345,837 33,262,567 Additonal Breakout/Learning 18,848 $3,619,200 3,619,200 217,152 217,152 516,822 482,367 1,000,000 302,635 6,355,328 RECREATION CENTER - ICE & YOUTH 66,065 $12,441,395 12,441,395 1,617,381 746,484 1,776,631 1,658,189 500,000 837,004 19,577,085 THEATER 0 $0 0 0 0 0 0 0 0 0 RETAIL (CAFE/COFFEE SHOP) 0 $0 0 0 0 0 0 0 0 0 FOR SALE HOUSING 0 $0 0 0 0 0 0 0 0 0 PARKING 0 $0 0 0 0 0 0 0 0 0 OUTDOOR AMENITIES 0 $3.239.010 3.239.010 421.071 0 439.210 409.929 0 225.461 4.734.682 SUBTOTAL BEFORE SOFT COSTS 191.676 $40.387.629 40,387.629 5_250,392 2,228,917 5.744.033 5.361.097 2.500.000 2.710 936 64.183 005 SOFT COSTS (DESIGN, ENG., CONST. MGMT.) 13% $5,250,392 FFE (CONF CTR, ICE, THEATER,YOUTH CTR. ONLY) 6% $2,228,917 Costs do not include $1.5 million affordable rental housing expected to be funded from ESCALATION (INFLATION) - 2 YEARS 12% $5,744,033 Housing Authority revenue bond issue. CONTINGENCY 10%0 $5.361097 SUB-TOTAL 46% $18.584.439 FINANCING/BONDING COSTS 5% $2.710.936 WORKING CAPITAL $2.500.000 TOTAL ALL COSTS $64.183.004 ESTIMATED FUNDING SOURCES ESTIMATED FUNDING SOURCES BY FACILITY CONFER. Break/Lrn Recreation THEATER HOUSING PARKING OUTDOOR RETAIL TOTALS TOV TAX-EXEMPT BONDS (25 YEARS/5.5%) $50,574,333 28,262,567 I 0 17,577,085 0 0 0 4,734,682 0 50,574,333 SALE OF 150 PARKING SPACES @ $60/SPACE PROFIT $0 0 0 0 0 0 0 0 PRIVATE DONATIONS - CAPITAL (INCLUDES PKG.) $13,608,671 5,000,000 6,608,671 2,000,000 0 0 0 0 13,608,671 VRI/OTHER U0 0 0 0 0 0 0 0 0 TOTAL FUNDING SOURCES $64.183.004 33.262.567 I 6.608.671 19 577.0850 0 0 4.734.682 0 64 183.004 ANNUAL DEBT SERVICE (25 YEARS/5.5%) $3,793,075 ESTIMATED TAX IMPACTS, 3.00 TOV MILL LEVY INCREASE 16.89% INCREASE TOTAL PROP. TAXESI: ANNUAL INCREASE PER $100,000 RESID. MKT VALUE $27 (OR PER $9,150 OF RESID. ASSESSED VALUE) ANNUAL INCR. PER $100,000 COMMERCIAL MKT VALUE $87 (OR PER $29,000 OF COMMERCIAL ASSESSED VALUE) PROPERTY TAXES GENERATED FOR DEBT SERVICE $2,100,000 NO INCREASE IN TOWN OF VAIL SALES TAX RATE: ANNUAL TOV SALES TAXES NEEDED FOR DEBT SERVICE $1,300,000 LODGING SURCHARGE REVENUES $153,075 NO INCREASE IN TOWN OF VAIL RETT RATE: ANNUAL TOV RETT TAXES NEEDED FOR DEBT SERVICE $240,000 PAGE 1 New Alt A 06/14/2001 11:36 AM THE NAIL, CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS ' CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE,_ AREA.' COST/SF COST/SF COST/SF CONST.COST CONFERENCE CENTER RECEPTION AND LOBBY 2,700 131 135 266 718,200 BALLROOM 20,160 175 169 344 6,935,040 PRE-FUNCTION, 1 ST & 2ND 14,465 131 137 268 3,876,620 BREAKOUT #1-2 11,000 131 127 258 2,838,000 THEATRE 4,000 131 125 256 1,024,000 TOILETS 2;940 131 127 258 758,520 KITCHEN 5,116 131 127 258 1,319,928 LOADING DOCK 16,000 110 20 130 STORAGE/ M ECHANCIAL 6,240 110 25 135 OTHER UNDEFINED SPACES 3,556 131 125 256 910,336 MECHANICAL / SERVICE 6,240 110 25 135 842,400 LOADING DOCK 14,346 110 20 130 1,864,980 SUBTOTAL 106,763 197.52 21,088,024 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL - CONFERENCE CENTER 197.52 21,088,024 ADDITIONAL BREAK OUT/LEARNING CENTER PLANNING ROOM 1,200 131 135 266 319,200 SEMINAR/ DIALOGUE 2,500 131 135 266 665,000 CLASS Room 1,000 131 135 266 266,000 BOARD ROOM 500 131 135 266 133,000 READING ROOM 1,000 161 135 296 296,000 LEARNING CENTER 3,000 131 137 268 804,000 BUSINESS CENTER 3,000 131 90 221 663,000 TECHNOLOGY CENTER 1,000 304 169 473 473,000 OTHER CIRCULATION SPACE 5,648 THE VAILI CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS I CONSTRUCTION SQFT C & S FINISHES "TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST' SUBTOTAL 18,848 192.02 3,619,200 CONSTRUCTION CONTINGENCY 5% 180,960 SUBTOTAL- CONFERENCE CENTER 201.62 3,800,160 RECREATION CENTER (ICE) ICE RINK 20,000 131 55 186 3,720,000 PUBLIC SPACE AROUND ICE RINK 7,175 131 40 171 1,226,925 TOILETROOMS 1,290 131 140 271 349,590 LOCKERS & DRESSING 2,550 131 140 271 691,050 UPPER GALLERY 0 110 25 135 0 MECHANICAL/SERVICE 1,860 1 10 25 135 251,100 SUBTOTAL 32,875 189.77 6,238,665 CONSTRUCTION CONTINGENCY 5% 31 1 ,933 SUBTOTAL- RECREATION CENTER 199.26 6,550,598 THEATER ENTRY FOYER 0 0 0 PRE-PERFORMANCE & CORRIDORS 0 0 0 TOILET ROOMS 0 O 0 MAIN THEATER & STAGE 0 0 0 BACKSTAGE & STORAGE 0 0 0 UPPER STORAGE 0 0 0 MECHANICAL/SERVICE 0 _ 0 0 SUBTOTAL 0 0.00 0 CONSTRUCTION CONTINGENCY 5% 0 SUBTOTAL-THEATER 0.00 0 YOUTH CENTER THE MAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS L CONSTRUCTION SQFT C &S FINISHES TOTAL CONST. - EXTENDED SPACE AREA COST/SF COST/$F COST/SF CONST.COST LOUNGE SPACE/HANGOUT 3,720 131 85 216 803,520 CLIMBING WALL 2,538 150 125 275 697,950 TOILET Rooms 500 131 140 271 135,500 SKATEPARK 20,500 131 25 156 3,198,000 INDOOR PLAYGROUND 2,450 131 85 216 529,200 MECHANICAL 3,482 131 25 156 543,192 SUBTOTAL 33,190 177.99 5,907,362 CONSTRUCTION CONTINGENCY 5% 295,368 SUBTOTAL - YOUTH CENTER 186.89 6,202,730 RETAIL RETAIL SALES SPACE 29,691 131 50 181 5,374,071 SUBTOTAL 29,691 181.00 5,374,071 CONSTRUCTION CONTINGENCY 5% 268,704 SUBTOTAL - RETAIL SPACES 190.05 5,642,775 SITE AMENITIES STREET WORK NEW CURB & GUTTER (LNFr) 3,436 15 51,540 ACCELERATION/ DECELERATION LNS 11,200 20 224,000 PARKING GARAGE ACCESS 4,500 20 90,000 DROP OFF/ ENTRY 7,200 25 180,000 SERVICE COURT ACCESS 7,800 20 156,000 STREET WORK (CONTINUED) REALIGN EAST LIONHEAD CIRCLE 22,350 25 558,750 REPAVE LOWER STREET 10,400 15 156,000 THE VAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS L CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST RECONFIGURE CONDO ENTRANCE 46,000 35 1,610,000 ISLANDS IN FRONTAGE ROAD 3,300 50 165,000 HARDSCAPING DECORATIVE VEHICLE PAVING 42,000 20 840,000 DECORATIVE PEDESTRIAN PAVING 69,500 16 1,112,000 UNIT PAVERS 85,505 25 2,137,625 PLAZA FEATURES GLASS COVERING @ WALKWAYS 2,000 90 180,000 COVERED WALKWAYS 1,600 65 104,000 GRAND STAIR 5,800 55 319,000 OTHER STAIRWAYS 1,240 35 43,400 HANDRAILING (LNFT) 1,400 200 280,000 WATER FEATURE - ALLOWANCE 1 500,000 500,000 LANDSCAPING PLANTERS - ALLOWANCE 1 150,000 150,000 LANDSCAPING • ALLOWANCE 130,000 6 780,000 GARDENS - ALLOWANCE 1 125,000 125,000 SITE FEATURES TRANSIT STOP 1,344 85 114,240 ICON TOWER 2,304 200 460,800 GATEWAY ARCHES - ALLOWANCE 2 150,000 300,000 TOWER/INFO STATION - ALLOWANCE 1 250,000 250,000 SUBTOTAL 10,887,355 THE VAIL CENTER PLAN B: CHARTER BUS SITE - CAPITAL COSTS AND FUNDING SOURCES - SUMMARY FACILITY/COST DESCRIPTION ESTIMATED CAPITAL COSTS BY FACILITY SQ. EST. BASE SOFT WORKING BONDING FEET COSTS COSTS COSTS FFE INFLATION CONTING. CAPITAL COSTS TOTAL CONFERENCE SPACE 75,258 $19,462,571.00 19,462,571 2,530,134 1,167,754 2,779,255 2,593,971 1,000,000 1,276,684 30,810,370 Additonal Breakout/Learning 7,474 $1,913,344 1,913,344 114,801 114,801 257,153 240,010 0 132,005 2,772,114 RECREATION CENTER - ICE & YOUTH 94,187 $19,341,906 19,341,906 2,514,448 1,160,514 2,762,024 2,577,889 500,000 1,342,839 30,199,621 THEATER 43,755 $11,530,975 11,530,975 1,499,027 691,859 1,646,623 1,536,848 500,000 0 17,405,332 RETAIL (CAFE/COFFEE SHOP) 0 $0 0 0 0 0 0 0 0 0 FOR SALE HOUSING 0 $0 0 0 0 0 0 0 0 0 Optional PARKING 350spaces $ 13.572.0 0 $0 0 0 0 0 0 0 0 0 OUTDOOR AMENITIES ~0 $5.836,929 5.836.929 758.801 0 791.488 738.722 0 406.297 8.532.236 SUBTOTAL BEFORE SOFT COSTS 220.674 $58.085.725 58,085.725 _7551,144 3,134,928 8.252.616 7.702.441 2,000.000 3,157-826 89.884.680 SOFT COSTS (DESIGN, ENG., COSTT. MGMT.) 13% $7,551,144 FFE (CONF CTR, ICE, THEATER,YOUTH CTR. ONLY) 6% $3,134,928 Costs do not include $1.5 million affordable rental housing expected to be funded from ESCALATION (INFLATION) - 2 YEARS 12% $8,252,616 Housing Authority revenue bond issue. CONTINGENCY 10% $7.702,441 SUB-TOTAL 46% $26.641.129 FINANCING/BONDING COSTS 5% $3.157.826 WORKING CAPITAL $2.000.000 TOTAL ALL COSTS 889.884.680 ESTIMATED FUNDING SOURCES ESTIMATED FUNDING SOURCES BY FACILITY CONFER. Break/Lrn Recreation THEATER HOUSING PARKING OUTDOOR RETAIL TOTALS TOV TAX-EXEMPT BONDS (25 YEARS15.5%) $63,542,227 26,810,370 ( 0 28,199,621 0 0 0 8,532,236 0 63,542,227 SALE OF 150 PARKING SPACES @ $601SPACE PROFIT $0 0 0 0 0 0 0 0 PRIVATE DONATIONS - CAPITAL (INCLUDES PKG.) $26,177,446 4,000,000 2,772,114 2,000,000 17,405,332 0 0 0 26,177,446 VRI/OTHER U 0 0 0 0 0 0 0 0 TOTAL FUNDING SOURCES $89.719.673 30810.370 I 2.772.114 30.199 621 17 405 332 0 0 8.532.236 0 89 719 673 ANNUAL DEBT SERVICE (25 YEARS/5.5%) $4,765,667 ESTIMATED TAX IMPACTS 3.00 TOV MILL LEVY INCREASE (6.89% INCREASE TOTAL PROP. TAXESI: ANNUAL INCREASE PER $100,000 RESID. MKT VALUE $27 (OR PER $9,150 OF RESID. ASSESSED VALUE) ANNUAL INCR. PER $100,000 COMMERCIAL MKT VALUE $87 (OR PER $29,000 OF COMMERCIAL ASSESSED VALUE) PROPERTY TAXES GENERATED FOR DEBT SERVICE $2,100,000 NO INCREASE IN TOWN OF VAIL SALES TAX RATE: ANNUAL TOV SALES TAXES NEEDED FOR DEBT SERVICE $1,500,000 LODGING SURCHARGE REVENUES $365,667 NO INCREASE IN TOWN OF VAIL RETT RATE: ANNUAL TOV RETT TAXES NEEDED FOR DEBT SERVICE $800,000 PAGE 1 New Alt 6 06/14/2001 11:40 AM THE VAIL CENTER SCHEME B, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST. CONFERENCE CENTER BALLROOM 23,868 175 160 335 7,995,780 PREFUNCTION AREA 11,440 131 135 266 3,043,040 BREAKOUT # 1-2 13,941 131 125 256 3,568,896 CONFERENCE & SEMINAR 7,474 131 125 256 1,913,344 TOILET Rooms 2,547 150 140 290 738,630 KITCHEN 4,649 150 135 285 1,324,965 STORAGE & MECHANICAL 7,383 131 25 156 1,151,748 BACK OF HOUSE CORRIDOR 7,552 131 35 166 1,253,632 TERRACE 2,628 85 O 85 223,380 LOADING DOCK 19250 110 20 130 162,500 SUBTOTAL 82,732 258.38 21,375,915 CONSTRUCTION CONTINGENCY O% 0 SUBTOTAL - CONFERENCE CENTER 258.38 21,375,915 RECREATION CENTER (ICE) ICE RINK 20,000 140 75 215 4,300,000 PUBLIC SPACE AROUND ICE RINK 14,116 140 60 200 2,823,200 TOILETROOMS 1,892 140 140 280 529,760 LOCKERS & DRESSING 9,126 140 140 280 2,555,280 LOBBY 8,467 140 125 265 2,243,755 ADMINISTRATION 2,110 120 55 175 369,250 MECHANICAL/SERVICE 7,945 120 25 145 1,152,025 SUBTOTAL 63,656 219.51 13,973,270 CONSTRUCTION CONTINGENCY O% 0 THE VAIL CENTER SCHEME B, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS' CONSTRUCTION - SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST SUBTOTAL - RECREATION CENTER 219.51 13,973,270 THEATER ENTRY FOYER 1,632 150 100 250 408,000 MAIN LOBBY 5,802 150 100 250 1,450,500 BOX OFFICE 545 140 75 215 117,175 ADMINISTRATION 4,583 140 50 190 870,770 TOILET Rooms 1,891 140 140 280 529,480 MAIN THEATER & STAGE 10,887 1 75 175 350 3,81 0,450 BACKSTAGE & STORAGE 17,415 1 40 1 00 240 4,179,600 MECHANICAL/SERVICE 1,000 140 25 1 65 165,000 SUBTOTAL 43,755 263.54 11,530,975 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL-THEATER 263.54 11,530,975 YOUTH CENTER CLIMBING WALL 2,000 150 125 275 550,000 SKATEPARK 21,401 131 25 156 3,338,556 FAMILY CENTER 6,130 131 85 216 1,324,080 MECHANICAL 1,000 131 25 156 156,000 SUBTOTAL 30,531 175.84 5,368,636 CONSTRUCTION CONTINGENCY 0% O SUBTOTAL-YOUTH CENTER 175.84 5,368,636 PARKING DEMO TOP LEVEL FEATURES 117,000 6 6 702,000 THE VAIL CENTER SCHEME B, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS L CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE- AREA COST/SF COST/SF' COST/SF CONST.COSF ADD LEVEL TO PARKING STRUCTURE 1 1 7,000 50 10 60 7,020,000 REPAIR & UPGRADE EXISTING FAC. 350,000 15 15 5,250,000 FOYER UPGRADES 20,000 30 30 600,000 SUBTOTAL 467,000 29.06 13,572,000 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL - PARKING 29.06 13,572,000 TOTAL BUILDING SQUARE FOOTAGE 757,799 SITE AMENITIES STREET WORK NEW CURB & GUTTER (LNFT) 3,436 15 51,540 ACCELERATION/DECELERATION LNS 1 1 ,200 20 224,000 PARKING GARAGE ACCESS 4,500 20 90,000 DROP OFF/ ENTRY 7,200 25 180,000 SERVICE COURT ACCESS 7,800 20 156,000 REPAVE LOWER STREET 10,400 20 208,000 ISLANDS IN FRONTAGE ROAD 3,300 50 165,000 HARDSCAPING DECORATIVE VEHICLE PAVING 30,000 20 600,000 DECORATIVE PEDESTRIAN PAVING 69,500 16 1,1 12,000 TERRACES 15,000 70 1,050,000 UNIT PAVERS 15,000 25 375,000 PLAZA FEATURES COVERED WALKWAYS 1,600 65 104,000 OTHER STAIRWAYS 1,240 35 43,400 HANDRAILING (LNFT) 1,000 200 200,000 "LANDSCAPING THE MAIL CENTER SCHEME B, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS I CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE:.' AREA COST/SF COST/SF COST/$F:< CONST.COST PLANTERS - ALLOWANCE 1 50,000 50,000 LANDSCAPING - ALLOWANCE 550,000 6 300,000 GARDENS-ALLOWANCE 1 75,000 75,000 SITE FEATURES TRANSIT STOP 1,344 85 114,240 ICON TOWER 2,304 200 460,800 SUBTOTAL 5,558,980 CONSTRUCTION CONTINGENCY 5% 277,949 SUBTOTAL - SITE AMENITIES 5,836,929 TOTAL 290,799 251.58 73,159,045 I ht VAIL t LN I tK Plan A-Phase 1 FACILITY/COST DESCRIPTION ESTIMATED CAPITAL COSTS BY FACILITY SQ. EST. BASE SOFT WORKING BONDING FEET COSTS COSTS COSTS FFE INFLATION CONTING. CAPITAL COSTS TOTAL CONFERENCE SPACE 106,763 $21,088,024 21,088,024 2,741,443 1,265,281 3,011,370 2,810,612 1,000,000 1,595,837 33,512,567 Additonal BreakouVLearning 0 $0 0 0 0 0 0 0 0 0 RECREATION CENTER - ICE & YOUTH 66,065 $12,146,027 12,146,027 1,578,984 728,762 1,734,453 1,618,822 500,000 815,352 19,122,400 THEATER 0 $0 0 0 0 0 0 0 0 0 RETAIL (CAFE/COFFEE SHOP) 0 $0 0 0 0 0 0 0 0 0 FOR SALE HOUSING 0 $0 0 0 0 0 0 0 0 0 PARKING 0 $0 0 0 0 0 0 0 0 0 OUTDOOR AMENITIES 0 $3.239010 3.239.010 421.071 0 439.210 409.929 0 225.461 4.734 682 SUBTOTAL BEFORE SOFT COSTS 172.828 $36 473 061 36.473 061 4-741.498 1 994 043 5 185 032 4.839 363 1 500 000 2,636,650 57 369 648 SOFT COSTS (DESIGN, ENG., CONTT. MGMT.) 13% $4,741,498 FFE (CONF CTR, ICE, THEATER,YOUTH CTR. ONLY) 6% $1,994,043 Costs do not include $1.5 million affordable rental housing expected to be funded from ESCALATION (INFLATION) - 2 YEARS 12% $5,185,032 Housing Authority revenue bond issue. CONTINGENCY 10% $4.839.363 SUB-TOTAL 46% $16.759937 FINANCING/BONDING COSTS 5% $2.636.650 WORKING CAPITAL $1.500.000 TOTAL ALL COSTS $57.369.648 ESTIMATED FUNDING SOURCES ESTIMATED FUNDING SOURCES BY FACILITY CONFER. Break/Lrn Recreaton THEATER HOUSING PARKING OUTDOOR RETAIL TOTALS TOV TAX-EXEMPT BONDS (25 YEARS/5.51%) $55,369,648 33,512,567 I 0 17,122,400 0 0 0 4,734,682 0 55,369,648 SALE OF 150 PARKING SPACES @'$60/SPACE PROFIT $0 0 0 0 0 0 0 0 PRIVATE DONATIONS - CAPITAL (INCLUDES PKG.) $2,000,000 0 0 2,000,000 0 0 0 0 2,000,000 VRI/OTHER U0 0 0 0 0 O 0 0 0 TOTAL FUNDING SOURCES $57.369.648 33.512.567 I 0 19.122 400 0 0 0 4.734.682 0 57.369.648 ANNUAL DEBT SERVICE (25 YEARS/5.5%) $4,152,724 ESTIMATED TAX IMPACTS, 3.00 TOV MILL LEVY INCREASE (6.89% INCREASE TOTAL PROP. TAXESI: ANNUAL INCREASE PER $100,000 RESID. MKT VALUE $27 (OR PER $9,150 OF RESID. ASSESSED VALUE) ANNUAL INCR. PER $100,000 COMMERCIAL MKT VALUE $87 (OR PER $29,000 OF COMMERCIAL ASSESSED VALUE) PROPERTY TAXES GENERATED FOR DEBT SERVICE $2,100,000 NO INCREASE IN TOWN OF VAIL SALES TAX RATE: ANNUAL TOV SALES TAXES NEEDED FOR DEBT SERVICE $1,500,000 LODGING SURCHARGE REVENUES $302,724 NO INCREASE IN TOWN OF VAIL RETT RATE: ANNUAL TOV RETT TAXES NEEDED FOR DEBT SERVICE $250,000 PAGE 1 New Alt A Phase 1 06/14/2001 11:38 AM THE MAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS, CONSTRUCTION' SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST CONFERENCE CENTER RECEPTION AND LOBBY 2,700 131 135 266 718,200 BALLROOM 20,160 175 169 344 6,935,040 PRE-FUNCTION, 1 ST & 2ND 14,465 131 137 268 3,876,620 BREAKOUT # 1-2 11,000 131 127 258 2,838,000 THEATRE 4,000 131 125 256 1,024,000 TOILETS 2,940 131 127 258 758,520 KITCHEN 5,116 131 127 258 1,319,928 LOADING DOCK 16,000 110 20 130 STORAGE/ M ECHANCIAL 6,240 110 25 135 OTHER UNDEFINED SPACES 3,556 131 125 256 910,336 MECHANICAL / SERVICE 6,240 110 25 135 8429400 LOADING DOCK 14,346 110 20 130 1,864,980 SUBTOTAL 106,763 197.52 21,088,024 CONSTRUCTION CONTINGENCY 0% O SUBTOTAL- CONFERENCE CENTER 197.52 219088,024 ADDITIONAL BREAK OUT/LEARNING CENTER PLANNING ROOM 0 131 135 266 O SEMINAR/DIALOGUE 0 131 135 266 0 CLASS Room 0 131 135 266 0 BOARD ROOM O 131 135 266 0 READING ROOM 0 161 135 296 0 LEARNING CENTER 0 131 137 268 0 BUSINESS CENTER 0 131 90 221 0 TECHNOLOGY CENTER 0 304 169 473 0 OTHER CIRCULATION SPACE 0 THE NAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREACOST/SF COST/SF COST/SF CONST.COST SUBTOTAL 0 #DIV/O! 0 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL-CONFERENCE CENTER #DIV/O! 0 RECREATION CENTER (ICE) ICE RINK 20,000 131 55 186 3,720,000 PUBLIC SPACE AROUND ICE RINK 7,175 131 40 171 1,226,925 TOILETROOMS 1,290 131 140 271 3499590 LOCKERS & DRESSING 2,550 131 140 271 691,050 UPPER GALLERY 0 110 25 135 0 MECHANICAL/SERVICE 1,860 110 25 135 251,100 SUBTOTAL 32,875 189.77 6,238,665 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL- RECREATION CENTER 189.77 6,238,665 THEATER ENTRY FOYER 0 0 0 PRE-PERFORMANCE & CORRIDORS 0 0 0 TOILET ROOMS 0 0 0 MAIN THEATER & STAGE 0 0 0 BACKSTAGE & STORAGE 0 0 0 UPPER STORAGE 0 0 0 MECHANICAL/SERVICE 0 0 0 SUBTOTAL 0 0.00 0 CONSTRUCTION CONTINGENCY 0% 0 SUBTOTAL-THEATER 0.00 0 YOUTH CENTER THE NAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS I CONSTRUCTION SQFT C & S FINISHES, TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST LOUNGE SPACE/HANGOUT 3,720 131 85 216 803,520 CLIMBING WALL 2,538 150 125 275 6979950 TOILET ROOMS 500 131 140 271 135,500 SKATEPARK 20,500 131 25 156 3,198,000 INDOOR PLAYGROUND 2,450 131 85 216 529,200 MECHANICAL 3,482 131 25 156 543,192 SUBTOTAL 33,190 177.99 59907,362 CONSTRUCTION CONTINGENCY 0% O SUBTOTAL-YOUTH CENTER 177.99 59907,362 SITE AMENITIES STREET WORK NEW CURB & GUTTER (LNFT) 3,436 is 51,540 ACCELERATION/DECELERATION LNS 1 1 ,200 20 224,000 PARKING GARAGE ACCESS 4,500 20 90,000 DROP OFF/ ENTRY 7,200 25 180,000 SERVICE COURT ACCESS 7,800 20 156,000 STREET WORK (CONTINUED) REALIGN EAST LIONHEAD CIRCLE 22,350 25 558,750 REPAVE LOWER STREET 10,400 15 156,000 RECONFIGURE CONDO ENTRANCE 46,000 35 1,610,000 ISLANDS IN FRONTAGE ROAD 3,300 50 165,000 HARDSCAPING DECORATIVE VEHICLE PAVING 42,000 20 840,000 THE VAIL CENTER SCHEME A, PRELIMINARY AREA TAKEOFF & PROGRAM LEVEL COST MODEL GROSS I CONSTRUCTION SQFT C & S FINISHES TOTAL CONST. EXTENDED SPACE AREA COST/SF COST/SF COST/SF CONST.COST DECORATIVE PEDESTRIAN PAVING 69,500 16 1,112,000 UNIT PAVERS 85,505 25 2,137,625 PLAZA FEATURES GLASS COVERING @ WALKWAYS 2,000 90 180,000 COVERED WALKWAYS 1,600 65 104,000 GRAND STAIR 5,800 55 319,000 OTHER STAIRWAYS 1,240 35 43,400 HANDRAILING (LNFT) 1,400 200 280,000 WATER FEATURE -ALLOWANCE 1 500,000 500,000 LANDSCAPING PLANTERS - ALLOWANCE 1 150,000 150,000 LANDSCAPING - ALLOWANCE 130,000 6 780,000 GARDENS - ALLOWANCE 1 125,000 125,000 SITE FEATURES TRANSIT STOP 1,344 85 114,240 ICON TOWER 2,304 200 460,800 GATEWAY ARCHES - ALLOWANCE 2 150,000 300,000 TOWER/INFO STATION - ALLOWANCE 1 250,000 250,000 SUBTOTAL 10,887,355 Attachment D Operational Costs and Revenues THE VAIL CENTER YEAR 1 - 5 OPERATING SUMMARY CONF. CTR. CONF. CTR. OUT OF TOWN SALES 4% SALES 1.40% NET OPERATING GROSS NET NET TAXABLE TAX LODGERS YEAR REVENUES RM. NIGHTS RM. NIGHTS VISITORS SALES REVENUES TAX REVS 1 $209,005 79,600 59,700 127,842 $27,221,641 $1,088,866 $138,167 2 $228,948 90,800 68,100 143,718 $30,618,343 $1,224,734 $155,807 3 $242,656 99,200 74,400 155,625 $33,165,870 $1,326,635 $169,037 4 $257,599 110,400 82,800 171,501 $36,562,573 $1,462,503 $186,677 5 $266,306 118,800 89,100 183,408 $39,110,099 $1,564,404 $199,907 A 25% FACTOR HAS BEEN USED TO ACCOUNT FOR A ROOM NIGHT DISPLACEMENTS. PAGE I EXHIBIT I THE VAIL CENTER - YEAR 1 (79,600 GROSS CONF CTR ROOM NIGHTS) SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION CENTER CENTER (SCH. A) (SCH. B) (SCH. C) (SCH. D) (SCH. E). TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,054,619 $264,486 $532,600 $210,000 $300,000 $3,361,705 OPERATING EXPENSES $1.902.689 $183.611 $586.400 $180.000 $300.000 $3.152.700 NET OPERTING REVENUES (DEFICIT) $1.51.931 $80.874 j$53.8001 $30.000 $0 $209.005 2. ROOM NIGHTS - LODGES, CONDOS (NET) 59.700 2.756 3.330 983 0 66.770 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 112.833 3.859 8.200 2.950 0 127.842 4. INCREMENTAL SALES TAXES @ 4% $987.456 $47.618 $38.365 $15.427 $0 $1.088.866 5. INCREMENTAL LODGERS TAXES @ 1.4% $125.370 $5.788 $5.839 $1.170 $0 $138.167 PAGE 2 EXHIBIT I THE VAIL CENTER - YEAR 2 (90,800 GROSS CONF CTR ROOM NIGHTS) SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION CENTER CENTER (SCH. A) (SCH. B) (SCH. C) (SCH. D) (SCH. E) TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,259,563 $264,486 $532,600 $210,000 $300,000 $3,566,648 OPERATING EXPENSES $2.108.570 $162.730 $586.400 $180.000 $300.000 $3.337.700 NET OPERTING REVENUES (DEFICIT) $150,992 $101.756 ($53.800) $30,000 $0 $228,948 2. ROOM NIGHTS - LODGES, CONDOS (NET) 68.100 2,756 3,330 983 0 75,170 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 128.709 3,859 8,200 2,950 0 143,718 4. INCREMENTAL SALES TAXES @ 4% $1,123.324 $47,618 $38,365 $15,427 $0 $1,224,734 5. INCREMENTAL LODGERS TAXES @ 1.4% $143,010 $5,788 $5,839 $1,170 $0 $155,807 PAGE 3 EXHIBIT I THE VAIL CENTER - YEAR 3 (99,200 GROSS CONF CTR ROOM NIGHTS) - SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION' CENTER CENTER (SCH. A) (SCH. B) (SCH. C) (SCH. D) (SCH. E) TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,413,270 $264,486 $532,600 $210,000 $300,000 $3,720,356 OPERATING EXPENSES $2.261.359 $149.941 $586.400 $180.000 $300.000 $3.477.700 NET OPERTING REVENUES (DEFICIT) $151,911 $114,545 ($53,800) $30,000 $0 $242,656 2. ROOM NIGHTS - LODGES, CONDOS (NET) 74,400 2,756 3,330 983 0 81,470 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 140,616 3.859 8,200 2,950 0 155,625 4. INCREMENTAL SALES TAXES @ 4% $1,225,225 $47,618 $38,365 $15,427 $0 $1,326,635 5. INCREMENTAL LODGERS TAXES @ 1.4% $156,240 $5,788 $5.839 $1,170 $0 $169.037 PAGE 4 EXHIBIT I THE VAIL CENTER - YEAR 4 (110,400 GROSS CONF CTR ROOM NIGHTS) SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION CENTER CENTER (SCH. A) (SCH. B) (SCH. C) (SCH. D) (SCH. E) TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,618,213 $264,486 $532,600 $210,000 $300,000 $3,925,299 OPERATING EXPENSES $2.465.581_ $135.719 $586.400 $180.000 $300.000 $1667.700 NET OPERTING REVENUES (DEFICIT) $152,632 $128.767 ($53,800) $30.000 $0 $257,599 2. ROOM NIGHTS - LODGES, CONDOS (NET) 82,800 2,756 3,330 983 0 89,870 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 156,492 3,859 8,200 2,950 0 171.501 4. INCREMENTAL SALES TAXES @ 4% $1.361.093. $47,618 $38,365 $15.427 $0 $1,462,503 5. INCREMENTAL LODGERS TAXES @ 1.4% $173.880 $5,788 $5,839 $1,170 $0 $186.677 PAGE 5 EXHIBIT I THE VAIL CENTER - YEAR 5 (118,800 GROSS CONF CTR ROOM NIGHTS) SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION CENTER CENTER (SCH. A) (SCH. B) (SCH. C) (SCH. D) (SCH. E) TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,771,921 $264,486 $532,600 $210,000 $300,000 $4,079,006 OPERATING EXPENSES $2.619.595 $126.705 $586.400 $180.000 $300.000 $1812.700 NET OPERTING REVENUES (DEFICIT) $152,326 $137.780 ($53,800) $30.000 $0 $266,306 2. ROOM NIGHTS - LODGES, CONDOS (NET) 89,100 2,756 3,330 983 0 96,170 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 168.399 3,859 8,200 2,950 0 183,408 4. INCREMENTAL SALES TAXES @ 4% $1,462,994 $47,618 $38,365 $15.427 $0 $1,564,404 5. INCREMENTAL LODGERS TAXES @ 1.4% $187,110 $5,788 $5.839 $1,170 $0 $199,907 PAGE 6 THE VAIL CENTER - OPERATING FINANCING PLAN SUMMARY OF OPERATING COSTS, FUNDING SOURCES, AND TAX IMPACTS SCHEDULE # SCHEDULE DESCRIPTION PAGE EXHIBIT I ALL FACILITIES COMBINED 1 SCH. A CONFERENCE CENTER - SUMMARY IMPACTS 2 A-1 CONFERENCE CENTER - DEMAND AND REVENUES 3 A-2 CONFERENCE CENTER - STAFFING PLAN/OPERATING EXPENSES 4 B LEARNING CENTER - SUMMARY IMPACTS 5 B-1 LEARNING CENTER - DEMAND AND REVENUES 6 C ICE SKATING RINK - SUMMARY IMPACTS 7 C-1 ICE SKATING RINK - DEMAND AND REVENUES 8 C-2 ICE SKATING RINK - DUAL ICE RINK 9 D FAMILY RECREATION CENTER - SUMMARY IMPACTS 10 E ARTS CENTER - SUMMARY IMPACTS 11 F VISITATION ESTIMATES 12 G VISITOR SPENDING 13 H SALES AND LODGING TAXES GENERATED 14 Year 1 VAILCENTEROPERATINGIMPACTS79600ccnights.xIO6/14/2001 11:42 AM EXHIBIT I- year 1 THE VAIL CENTER - YEAR 1 (79,600 GROSS CONF CTR ROOM NIGHTS) SUMMARY OF NET OPERATING REVENUES (DEFICITS), OUT-OF TOWN VISITORS, SALES TAX AND LODGERS TAX IMPACTS CONFER. LEARNING ICE FAMILY ARTS VAIL CENTER CENTER CENTER RECREATION CENTER CENTER (SCH. A) (SCH. B) (SCH. Cl (SCH. D) (SCH. E) TOTALS 1. NET OPERATING REVENUES: OPERATING REVENUES $2,054,619 $264,486 $532,600 $210,000 $300,000 $3,361,705 OPERATING EXPENSES $1.902.689 $183.611 $586.400 $180.000 $300.000 $3,152.700 NET OPERTING REVENUES (DEFICIT) $151,931 $80,874 ($53,800) $30,000 $0 $209,005 2. ROOM NIGHTS - LODGES, CONDOS (NET) 59,700 2,756 3,330 983 0 66,770 3. OUT-OF TOWN VISITOR DAYS/NIGHTS (NET) 112,833 3,859 8,200 2,950 0 127,842 4. INCREMENTAL SALES TAXES @ 4% $987,456 $47,618 $38,365 $15,427 $0 $1,088,866 5. INCREMENTAL LODGERS TAXES @ 1.4% $125,370 $5,788 $5,839 $1,170 $0 $138,167 PAGE 1 Year 1 VAILCENTEROPERATINGIMPACTS79600ccnights.xID6/14/2001 11:42 AM SCHEDULE A THE VAIL CENTER CONFERENCE SPACE SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (SOURCE: VVTCB) OPERATING REVENUES (SCHEDULE A-1): CONFERENCE SERVICES DAILY RATE 170 $1,497 $254,500 NET PROFIT FOOD & BEVERAGE @ 27% OF GROSS 107,460 $43 27% $1,247,619 PERFORMANCE BOOKINGS 15 $2,500 $37,500 EQUIPMENT RENTALS $500,000 BUSINESS SERVICES $15.000 TOTAL OPERATING REVENUES $2,054,619 OPERATING EXPENSES (ALLOCATED % OF SCHEDULE A-2): SALARIES/BENEFITS $949,657 MARKETING (Funded From Marketing District) $0 OPERATIONS/EQUIPMENT/SUPPLIES/MAINT. $638,394 UTILITIES $109,439 ALLOWANCE FOR INSURANCE $22,800 ALLOWANCE FOR CAPITAL/EQUIPMENT REPLACEMENT $182.398 TOTAL OPERATING EXPENSES $1.902.689 NET OPERATING REVENUE $151,931 2. ESTIMATED VISITATION FROM NEW NET OUT-OF-COUNTY VISITORS (SOURCE: VVTCB) - SCH. G CONFERENCE CENTER ATTENDEES 33,581 FAMILY OF CONFERENCE CENTER ATTENDEES 13.430 TOTAL ATTENDEES 47,011 CONFERENCE CENTER VISITOR DAYS/NIGHTS @ 3.2 DAY AVERAGE 107,460 FAMILY OF CONFERENCE CENTER VISITOR DAYS/NIGHTS @.4 x VISITOR DAYS/NIGHTS 42.984 TOTAL VISITOR DAYS/NIGHTS 150,444 NET VISITOR DAYS/NIGHTS NET OF DISPLACEMENT FACTOR OF 25%0 112.833 GROSS ROOM NIGHTS (ASSUMES 1.35 CONF. CTR. ATTENDEES PER ROOM) 79.600 NET ROOM NIGHTS NET OF DISPLACEMENT FACTOR OF 25% 59,700 3. TOWN OF VAIL SALES AND LODGERS TAXES GENERATED FROM CONFERENCES (SOURCE: VVTCB) INCREMENTAL LODGING REVENUES $150.00 $8,955,000 INCREMENTAL OFF-SITE FOOD & BEVERAGE REVENUES $56.00 $6,318,648 INCREMENTAL OFF-SITE RETAIL REVENUES $58.00 80% $5,235,451 CONFERENCE CENTER FOOD & BANQUET GROSS REVENUE $43.00 $3,422,800 CONFERENCE CENTER ROOM RENTALS (SCH. A-1) $254,500 CONFERENCE CENTER EQUIPMENT RENTALS (SCH. A-1) $500.000 TOTAL INCREMENTAL SALES TAXABLE REVENUES FROM CONFERENCES $24,686,399 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM CONFERENCES $987,456 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREMENTAL FROM CONFERENCE $125,370 PAGE2 Year 1 VAILCENTEROPERATINGIMPACTS79600cc&41it4l2l$01 11:42 AM SCHEDULE A-1 TOWN OF VAIL CONFERENCE CENTER ESTIMATED USAGE ASSUMPTIONS AND REVENUE PROJECTIONS Group Size Total Conference Less than 100 100 to 400 400 to 700 700 to 1,000 1,000 to 1,500 Center Conference Bookings Projected Group Bookings Per Year 0 24 18 8 2 52 Average Length of Meeting 2.5 3 3.5 3.5 3.5 n/ Projected Event Days Per Year 0 72 63 28 7 170 Average Attendance Per Event Day 81 338 675 1,080 1,485 600 Annual Conference Attendee Days/Nights 0 24,300 42,525 30,240 10,395 107,460 Annual Conference Room Nights @ 1.35 Per Room 0 18,000 31,500 22,400 7,700 79,600 Average Facility Fee Per Conference Day $500.00 $900.00 $1,800.00 $2,100.00 $2,500.00 $1,497.06 Estimated Revenue from Conference Services $0 $64,800 $113,400 $58,800 $17,500 $254,500 Food & Beverage Per Capita Food Expenditure $43 $43 $43 $43 $43 $43 Food & Beverage Gross Revenue $0 $1,044,900 $1,828,575 $1,300,320 $446,985 $4,620,780 % of Food & Beverage Received 27% 27% 27% 27% 27% 27% Estimated Conference F&B Revenue $0 $282,123 $493,720 $351,086 $120,690 $1,247,619 Performance Bookings Rental Rate per Event n/a n/a n/a n/a n/a $2,500 Projected Event Days Per Year n/a n/a n/a n/a n/a 15 Estimated Revenue from Performance Bookings n/a n/a n/a n/a n/a $37,500 Miscellaneous Equipment Rentals/AV Services - Net n/a n/a n/a n/a n/a $500,000 Business Services n/a n/a n/a n/a n/a $15,000 Estimated Miscellaneous Revenue n/a n/a n/a n/a n/a $515,000 Total Estimated Revenue $2,054,619 Based upon perfonnance of other Vail area conference centers. Source: VVTCB . PAGE 3 Year 1 VAILCENTEROPERATINGIMPACTS79600ccnights.xls 06/14/2001 11:42 AM SCHEDULE A-2 OPERATING EXPENSES FOR CONFERENCE/LEARNING CENTER COMBINED CONF. CTR LEARN. CTR Salaries/Benefits $1,041,300 $949,657 $91,643 Marketing (Estimated to be funded from Marketing District's 1.4% Lodger's Tax revenues) $0 $0 $0 Operations/Equip./Supplies/Maint. $700,000 $638,394 $61,606 Allowance for Insurance $25,000 $22,800 $2,200 Allowance for Capital and Equipment Replacement @ approx. 1% of Hard Costs $200,000 $182,398 $17,602 Utilities $120.000 $109.439 $10.561 Total Operating Expenses Conference/Learning Center $2.086.300 Operating Expenses Allocated to Learning Center (relative attendees) 8.80% $183,611 Operating Expenses Allocated to Conference Center (relative attendees) 91.20% $1,902,689 $1,902,689 $183,611 STAFFING PLAN FOR CONFERENCE/LEARNING CENTER # Full-Time Fully Loaded Position Equivalents Salary Total Salaries Salary Cost 1 General Manager 1 $100,000 $100,000 $130,000 Manager of Conference Planners 1 $60,000 $60,000 $78,000 Executive Meeting Managers 3 $32,000 $96,000 $124,800 Conference Planners 3 $40,000 $120,000 $156,000 Support Staff/Administration 3 $35,000 $105,000 $136,500 Technical Support 3 $40,000 $120,000 $156,000 Operations and Maintenance 4 $50,000 $200,000 $260,000 Total 18 - $801,000 $1,041,300 Average Salary - - $44,500 $57,850 1 / Fringe benefit portion of fully loaded salary is 30 percent over base salary levels. Source: VVTCB. PAGE 4 Year 1 VAILCENTEROPERATINGIMPACTS79600ccnights.xls 06/14/2001 11:42 AM SCHEDULE B THE VAIL VENTER LEARNING CENTER SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (SOURCE: JHK &VVTCB) OPERATING REVENUES (SCHEDULE B-1): HEALTH/WELLNESS CENTER CONFERENCE SERVICE RATE 4,660 $14.31 $66,680 CENTER FOR LEADERSHIP BOOKINGS CONF. SERVICE RATE 3,760 $14.06 $52,880 CENTER FOR MOUNTAIN STEWARDSHIP CONF. SERVICE RA 1,950 $14.36 $28,000 NET PROFIT FOOD & BEVERAGE @ 27% OF GROSS 10,370 $35 27% $98,001 PERFORMANCE BOOKINGS 1 $1,000 $1,000 EQUIPMENT RENTALS $17.925 TOTAL OPERATING REVENUES $264.486 OPERATING EXPENSES (ALLOCATED % OF SCHEDULE A-2): SALARIES/BENEFITS $91,643 MARKETING (Funded from Marketing District) $0 OPERATIONS/EQUIPMENT/SUPPLIES/MAINT. $61,606 UTILITIES $10,561 ALLOWANCE FOR INSURANCE $2,200 ALLOWANCE FOR CAPITAL/EQUIPMENT REPLACEMENT $17.602 TOTAL OPERATING EXPENSES $183.611 NET OPERATING REVENUE $80.874 2. ESTIMATED VISITATION FROM NEW NET OTJT-OF-COUNTY VISITORS (SOURCE: JHK) LEARNING CENTER OVERNIGHT GUESTS (SCH. B-1) 3,675 FAMILY OF LEARNING CENTER ATTENDEES (GUESTS @.4) 1.470 TOTAL ATTENDEES 5.145 TOTAL ATTENDEES NET OF DISPLACEMENT FACTOR OF 25% 3.859 ANNUAL LOCAL GUESTS (SCH. B-1) 6.695 GROSS ROOM NIGHTS 3.675 NET ROOM NIGHTS NET OF DISPLACEMENT FACTOR OF 25% 2.756 3. TOWN OF VAIL SALES AND LODGERS TAXES GENERATED FROM CONFERENCES (SOURCE: VVTCB) INCREMENTAL LODGING REVENUES $150.00 $413,438 INCREMENTAL OFF-SITE FOOD & BEVERAGE REVENUES $56.00 $216,090 INCREMENTAL OFF-SITE RETAIL REVENUES $58.00 80% $179,046 CONFERENCE CENTER FOOD & BANQUET GROSS REVENUE $35.00 $362,950 CONFERENCE CENTER ROOM RENTALS (SCH. B-1) $1,000 CONFERENCE CENTER EQUIPMENT RENTALS (SCH. B-1) $17.925 TOTAL INCREMENTAL SALES TAXABLE REVENUES FROM LEARNING CENTER $1.190.449 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM LEARNING CENTER $47.618 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREMENTAL FROM LEARNING CENT $5.788 PAGE 5 Year 1 VAILCENTEROPERATINGIMPACTS79600ccQot4f2WI 11:42 AM SCHEDULE B-1 LEARNING CENTER ESTIMATED USAGE ASSUMPTIONS AND REVENUE PROJECTIONS STABILIZED YEAR OF OPERATION (SOURCE: JOHN HORAN-KATES) I Total Learning Lectures Workshops Seminars Forums Retreats Courses Center Center for Health & Wellness Bookines Projected Event Bookings Per Year 40 40 20 2 10 2 114 Average Length of Event 0.5 1 3 3 6 10 Projected Event Days Per Year 20 40 60 6 60 20 206 Average Attendance Per Even[ Day 40 20 25 30 18 15 Annual Visitor Days/Nights 800 800 1,500 180 1,080 300 4,660 Percent Overnight Guests 5% 10% 40% 50% 75% 50% Annual Overnight Guests 40 80 600 90 810 150 1,770 Annual Local Guests 760 720 900 90 270 150 2,890 Average Conference Services Rate Per Person $18.00 $16.00 $14.00 $14.00 $12.00 $10.00 $14.31 Estimated Revenue from Conference Services $14,400 $12,800 $21,000 $2,520 $12,960 $3,000 $66,680 Center for Leadership Bookines Projected Event Bookings Per Year 40 40 10 2 4 6 102 Average Length of Event 0.5 1 3 3 6 10 Projected Event Days Per Year 20 40 30 6 24 60 180 Average Attendance Per Event Day 40 20 25 30 20 15 Annual Visitor Days/Nights 800 800 750 30 480 900 3,760 Percent Overnight Guests 5% 10% 40% 50% 75% 50% Annual Overnight Guests 40 80 300 15 360 450 1,245 Annual Local Guests 760 720 450 15 120 450 2,515 Average Conference Services Rate Per Person $18.00 $16.00 $14.00 $14.00 $12.00 $10.00 $14.06 Estimated Revenue from Conference Services $14,400 $12,800 $10,500 $420 $5,760 $9,000 $52,880 Center for Mountain Stewardship Bookines Projected Event Bookings Per Year 40 20 5 1 2 2 70 Average Length of Event 0.5 1 3 3 5 10 Projected Event Days Per Year 20 20 15 3 10 20 88 Average Attendance Per Event Day 20 20 25 75 25 15 Annual Visitor Days/Nights 400 400 375 225 250 300 1,950 Percent Overnight Guests 5% 10% 40% 50% 75% 50% Annual Overnight Guests 20 40 150 113 188 150 660 Annual Local Guests 380 360 225 113 63 150 1,290 Average Conference Services Rate Per Person $18.00 $16.00 $14.00 $14.00 $12.00 $10.00 $14.36 Estimated Revenue from Conference Services $7,200 $6,400 $5,250 $3,150 $3,000 $3,000 $28,000 Total Estimated Revenue from Conference Services $36,000 $32,000 $36,750 $6,090 $21,720 $15,000 $147,560 Total Annual Visitor Days/Nights 2,000 2,000 2,625 435 1,810 1,500 10,370 Total Annual Overnight Guests 100 200 1,050 218 1,358 750 3,675 _ SCHEDULE B-1 LEARNING CENTER ESTIMATED USAGE ASSUMPTIONS AND REVENUE PROJECTIONS STABILIZED YEAR OF OPERATION (SOURCE: JOHN HORAN-KATES) Total Learning Lectures Workshops Seminars Forums I Retreats Courses Center Food & Beveraee Per Capita Food Expenditure' $35 $35 $35 $35 $35 $35 $35 Total Food & Beverage Gross Expenditures $70,000 $70,000 $91,875 $15,225 $63,350 $52,500 $362,950 % of Food & Beverage Received 27% 27% 27% 27% 27% 27% 27% Estimated Conference F&B Revenue $18,900 $18,900 $24,806 $4,110 $17,105 $14,180 $98,001 Performance Bookings in Town Hall Rental Rate per Event $1,000 $1,000 Projected Event Days Per Year 1 1 Estimated Revenue from Performance Bookings $1,000 $1,000 Miscellaneous Equipment Rentals/AV Services $6,000 $5,000 $4,375 $1,250 $800 $500 $17,925 Business Services Estimated Miscellaneous Revenue $6,000 $5,000 $4,375 $1,250 $800 $500 $17,925 Total Estimated Revenue $60,900 $55,900 $65,931 $12,450 $39,625 $29,680 $264,486 PAGE6 SCHEDULE C THE VAIL CENTER ICE SKATING RINK SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (SOURCE: VRD & ERA) OPERATING REVENUES (SCHEDULE C-1): HOCKEY REVENUE $132,450 SKATING CLUB $11,700 GENERAL ADMISSIONS & SKATE RENTALS $33,000 LEARN TO SKATE $19,800 CONCERTS 20 $3,500 $70,000 TOURNAMENTS 9 $1,850 $16,650 CONFERENCE EVENT SPILLOVER 83 $3,000 $249.000 TOTAL OPERATING REVENUES $532.600 OPERATING EXPENSES (SCHEDULE C-2): SALARIES/BENEFITS $277,450 MAINTENANCE/UTILITIES $113,550 OTHER OPERATING EXPENSES $13,300 ALLOW. FOR INSURANCE ($10,000), & CAPITAL REPLACEMENT ($100,000) $110,000 SPECIAL EVENTS $72.100 TOTAL OPERATING EXPENSES $586.400 NET OPERATING REVENUE ($53.800) 2. ESTIMATED VISITATION FROM NEW NET OUT-OF-COUNTY VISITORS (SOURCE: ERA) PERFORMANCE EVENTS ATTENDEES (SCH. G) 4,000 ICE RINK TOURNAMENT ATTENDEES (SCH. G) 1.400 TOTAL ATTENDEES 5.400 PERFORMANCE EVENTS ATTENDEES (SCH. G) 4,000 ICE RINK TOURNAMENT ATTENDEES (SCH. G) 4.200 TOTAL VISITOR DAYS/NIGHTS 8.200 PERFORMANCE EVENTS ATTENDEES (SCH. G) 1,000 ICE RINK TOURNAMENT ATTENDEES (SCH. G) 2.330 TOTAL ROOM NIGHTS 3.330 3. TOWN OF VAIL SALES AND LODGERS TAXES GENERATED FROM ICE RINK (SOURCE: VRD) INCREMENTAL LODGING REVENUES - ICE TOURNEYS $85.00 $198,050 INCREMENTAL LODGING REVENUES - PERF. EVENTS $219.00 $219,000 INCREMENTAL FOOD & BEV. REVENUES - ICE TOURNEYS $56.00 $235,200 INCREMENTAL FOOD & BEV. REVENUES - PERF. EVENTS $20.00 $80,000 INCREMENTAL RETAIL REVENUES - ICE TOURNEYS $58.00 80% $194,880 INCREMENTAL RETAIL REVENUES - PERF. EVENTS $10.00 80% $32.000 TOTAL INCREMENTAL SALES TAXABLE REVENUES FROM ICE RINK $959.130 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM ICE RINK $38.365 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREMENTAL FROM ICE RINK $5.839 PAGE 7 SCHEDULE C-1 TOWN OF VAIL PRACTICE SHEET OF ICE ADDITIONAL USAGE ASSUMPTIONS AND REVENUE PROJECTIONS (SOURCE: VRD & ERA) # of Hours per Week/Event Days Additional Revenue 2 User Group Rates 1 Period Dobson Current With Practice Sheet Per Week Per Year Hockev Leagues AAA Hockey Leagues $130 hour 15 25 $1,300 $39,000 Junior Hockey Leagues $130 hour 22 30 $1,040 $31,200 Men's Hockey $150 hour 4.5 9 $675 $20,250 Ladies Hockey $150 hour 3.5 4.5 $150 $4,500 Girl's Hockey $130 hour 3 8 $650 $19,500 Evening Drop-In Hockey Sessions $600 week - - $600 $18.000 Total Additional Hockey Revenue $4,415 $132,450 Other Skating, Skating Club of Vail (Figure Skating) $130 hour 7 10 $390 $11,700 Public Skating (Admission and rentals) $200 hour 4.5 10 $1,100 $33,000 Learn-to-Skate $165 hour 2 6 $660 $19.800 Total Add. Other Skating Revenue $2,150 $64,500 Special Events Concerts and Other Sports $3,500 day 30 50 - $70,000 Hockey and Skating Tournaments 3 $1,850 day 0 9 - $16,650 Conference Event Spillover $3,000 day 0 83 - $249.000 Total Add. Special Event Revenue $335,650 Total Additional Revenue $532,600 1/ Rates represent management's planned rate increase following the currently budgeted renovations. 2/ Calculated during hockey season only (mid-September through March), approximately 30 weeks total. 3/ Assumes each tournament event spans 3 event days. Source: VVTCB - At least 50% of this revenue should be allocated to the Conference Center. Source: Economics Research Associates & Vail Recreation District PAGE 8 Year i VAU CENTEROPERATINGIWACTS79600ccnights.xls ICEDEMAND SCHEDULE C-2 TOWN OF VAIL DUAL ICE SHEET FACILITY ESTIMATED NET REVENUE IN A STABILIZED YEAR OF OPERATION SOURCE: VRD & ERA Dobson 2000 Dobson Under Practice Sheet With Practice Budget New Rates Impacts Sheet Revenues Hockey $103,800 $198,000 $132,450 $330,450 Figure Skating $16,750 $27,300 $11,700 $39,000 Special Events $114,950 $105,000 $319,000 $424,000 Tournaments $0 $0 $16,650 $16,650 Summer Programming $89,200 $89,200 $0 $89,200 Public Skating Admissions and Rentals $26,800 $27,000 $33,000 $60,000 Learn-to-Skate $10,000 $9,900 $19,800 $29,700 Other Sources $118.900 $118.900 $0 $118.900 Total Revenues $480,400 $575,300 $532,600 $1,107,900 Expenses Labor/Overhead $372,550 $372,550 $277,450 $650,000 Maintenance/Utilities $111,450 $111,450 $113,550 $225,000 Other Operating Expenses .$6,700 $6,700 $13,300 $20,000 Special Events $22,560 $21,000 $72,100 $93,100 Figure Skating Programs $13,600 $13,600 $0 $13,600 Summer Programming $32,150 $32,150 $0 $32,150 Other Expenses $1500 $2.500 $110.000 $112.500 Total Expenses $561,510 $559,950 $586,400 $1,146,350 Net Operating Revenue (Loss) ($81,110) $15,350 ($53,800) ($38,450) Other expenses include insurance $10,000), and capital replacement $100,000). Source: Vail Recreation District and Economics Research Associates. PAGE 9 Year I VAILCENTEROPERATINGIMPACTS79600ccnights.xls ICEOPS SCHEDULE D THE VAIL CENTER FAMILY RECREATION CENTER SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (SOURCE: VRD) OPERATING REVENUES: CLIMBING WALL $20,000 ARCADE GAMES $45,000 INDOOR SKATE PARK $120,000 YOUTH CENTER $15,000 BIRTHDAY PARTIES $10.000 TOTAL OPERATING REVENUES $210.000 OPERATING EXPENDITURES: LABOR AND BENEFITS (70 HOURS/WK) $42,000 SUPPLIES, REPAIRS, EQUIPMENT, UTILITIES, ETC. $42,500 ALLOWANCE FOR INSURANCE ($5,000) AND CAPITAL REPLACEMENT ($40,000) $45,000 CONTINGENCY $50.500 TOTAL OPERATING EXPENSES $180.000 NET OPERATING REVENUE $30,000 2. ESTIMATED VISITATION FROM NEW NET OUT-OF-COUNTY VISITORS (SOURCE: VRD) TOTAL ATTENDEES 40,800 TOTAL VISITOR DAYS/NIGHTS 2,950 TOTAL ROOM NIGHTS 983 3. TOWN OF VAIL SALES AND LODGERS TAXES GENERATED FROM FAMILY CTR (SOURCE: VRD) INCREMENTAL LODGING REVENUES @ $85/NIGHT $83,583 INCREMENTAL FOOD & BEV. REVENUES @ $56/NIGHT $165,200 INCREMENTAL RETAIL REVENUES @ $58/NIGHT X 80% $136.880 TOTAL INCREM. SALES TAXABLE REVENUES FROM FAMILY RECREATION CENTER $385,663 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM FAMILY REC. CENTER $15,427 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREM. FROM FAMILY REC. CENTER $1,170 PAGE 10 Year 1 VAILCENTEROPERATINGIMPACTS79606d.xls 11:42 AM SCHEDULE E THE VAIL CENTER ARTSCENTER SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (SOURCE: VVTCB) OPERATING REVENUES: TICKET SALES SPONSORSHIPS NET PROFIT FOOD & BEVERAGE @ 27% OF GROSS ENDOWMENT INTEREST EARNINGS - 5% @ $6 MILLION $300,000 EQUIPMENT RENTALS BUSINESS SERVICES TOTAL OPERATING REVENUES $300.000 OPERATING EXPENSES: TECHNOLOGIST & BENEFITS $62,500 COMMON AREA MAINTENANCE $42,000 OPERATIONS/EQUIPMENT/SUPPLIES/MAINT. $25,000 UTILITIES $45,000 EQUIPMENT AND REPLACEMENT ALLOWANCE $60,000 INSURANCE, OTHER, CONTINGENCY $65.500 TOTAL OPERATING EXPENSES $300.000 NET OPERATING REVENUE $0 2. ESTIMATED VISITATION FROM NFW NET OUT-OF-COIJNTY VISITORS (niJRCE: VVTCB) - SCH. G ARTS CENTER ATTENDEES - OUT OF COUNTY 0 FAMILY OF ARTS CENTER ATTENDEES 0 TOTAL ATTENDEES 0 ARTS CENTER VISITOR DAYS/NIGHTS - OUT OF COUNTY 0 FAMILY OF ARTS CENTER VISITOR DAYS/NIGHTS 0 TOTAL VISITOR DAYS/NIGHTS 0 GROSS ROOM NIGHTS 0 NET ROOM NIGHTS NET OF DISPLACEMENT FACTOR OF 25% 0 3. TOWN OF VAIL SALES AND LODGFRS TAXES GENERATED FROM ARTS CENTER (SOURCE: VVTCB) INCREMENTAL LODGING REVENUES $0 INCREMENTAL OFF-SITE FOOD & BEVERAGE REVENUES $0 INCREMENTAL OFF-SITE RETAIL REVENUES $0 ARTS CENTER FOOD & BANQUET GROSS REVENUES $0 ARTS CENTER ROOM RENTALS $0 ARTS CENTER EQUIPMENT RENTALS $0 TOTAL INCREMENTAL SALES TAXABLE REVENUES FROM ARTS CENTER $0 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM CONFERENCES $0 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREMENTAL FROM CONFERENCE $0 PAGE l l Year 1 VAILCENTEROPERATINGIMPACTS79600ccniol5NA.4,12001 11:42 AM SCHEDULE F THE VAIL CENTER FRACTIONAL OWNERSHIP UNITS - 45 UNITS @ 1,600 SQ. FT. (72,000 SQ. FT.) SUMMARY OF OPERATING REVENUES, COSTS, VISITORS, GUEST NIGHTS, TOWN SALES TAX IMPACTS 1. OPERATING REVENUES AND EXPENSES (FUNDED BY HOA) TOTAL OPERATING REVENUES $0 TOTAL OPERATING EXPENSES $0 NET OPERATING REVENUE $0 2. ESTIMATED GUESTS CONDO'S AVAILABLE 0 ANNUAL OCCUPANCY RATE - OWNERS 70.00% ANNUAL OCCUPANCY RATE - RENTERS 5.00% AVERAGE OCCUPANTS PER CONDO 4 TOTAL OWNER NIGHTS 0 TOTAL RENTER NIGHTS 0 TOTAL NIGHTS 0 TOTAL NET NIGHTS % 75% 0 3. TOWN OF VAIL SALES AND LODGERS TAXES GFNFRATED FROM FRACTIONAL (SOURCE: VVTCB) INCREMENTAL LODGING REVENUES $500.00 $0 INCREMENTAL FOOD & BEVERAGE REVENUES $56.00 $0 INCREMENTAL RETAIL REVENUES $58.00 80% $0 TOTAL INCREMENTAL SALES TAXABLE REVENUES FROM FRACTIONAL OWNER. $0 4% TOWN OF VAIL SALES TAX REVENUES - INCREMENTAL FROM FRACT. OWNERSHI $0 1.4% TOWN OF VAIL LODGERS TAX REVENUES - INCREMENTAL FROM FRACT. OWNE $0 4. TOWN OF VAIL REAL ESTATE TRANSFER TAX REVENUES TRANSFERRED FROM FRACTIONAL SALES SQUARE FEET OF FOR SALE FRACTIONAL OWNERSHIP 72.000 ASSUMED AVERAGE SALES PER SQUARE FOOT $0 GROSS SALES $0 AVERAGE SALES PRICE PER LIVING UNIT #DIV/0! 1% REAL ESTATE TRANSFER TAX (FROM INITIAL SALES ONLY) $0 PAGE 12 Year 1 VAILCENTEROPERATINGIMPACTS79606.&htvi~Wsls 11:42 AM SCHEDULE F ESTIMATED VISITATION FROM NEW NET OUT-OF-COUNTY VISITORS CONFERENCES, LEARNING CENTER, RECREATION, ARTS Estimated number of visitors Conference Center Attendees 33,581 Family of Conference Attendees 13,430 Learning Center Attendees - (out of Town) 1,148 Learning Center Attendees - (local) 2,092 Family of Learning Cntr Attendees (out of Tow 574 Performance Events Attendees 4,000 Family Recreation Center 2,950 Ice Rink Tournaments Attendees z 1.400 Total Visitors 59,176 Estimated number of visitor days/nights Conference Center 107,460 Family of Conference Attendees 42,984 Learning Center 3,675 Family of Learning Center Attendees 1,470 Performance Events Attendees 4,000 Family Recreation Center 2,950 Ice Rink Tournaments Attendees 4.200 Total Visitor Days/Nights 166,739 Net of Displacement Factor of 25% 127,842 Estimated number of room-nights Gross Conference Center Attendees 79,600 Conf. Center Attendees Net of Displacement 3 59,700 Family of Conference Attendees 0 Gross Learning Center Attendees 3,675 Learning Center Attendees Net of Displacemen 2,756 Family of Learning Center Attendees 0 Performance Events Attendees 1,000 Family Recreation Center 983 Ice Rink Tournaments Attendees 2.330 Total Room-nights 66,770 1/ Includes out-of-county visitors attending performances at both the ice arena and the conference center ballroom. 2/ Tournament attendees include both participants and spectators. 3/ Assumes conference events will result in a net displacement of 25 percent of other visitor roomnights in Vail. Source: Economics Research Associates & VVTCB and JHK. PAGE 12 SCHEDULE G ESTIMATED DAILY OFF-SITE CONFERENCE AND ICE RINK VISITOR SPENDING CONFERENCES, LEARNING CENTER, RECREATION, ARTS Avg. per capita off-site lodging expenditures Conference Center Attendees $150.00 Learning Center Attendees $150.00 Performance Event Attendees $219.00 Ice Rink Tournaments & Fam. Rec. Attendees $85.00 Total Lodging Expenditures $9,869,071 Avg. per capita off-site food and beverage expenditures Conference Center Attendees $56.00 Families of Conference Attendees $56.00 Learning Center Attendees $56.00 Families of Learning Center Attendees $56.00 Performance Event Attendees $20.00 Ice Rink Tournaments & Fam Rec Attendees $56.00 Total food and beverage expenditures $6,955,468 Avg. per capita off-site retail expenditures Conference Center Attendees $58.00 Families of Conference Attendees $58.00 Learning Center Attendees $58.00 Families of Learning Center Attendees $58.00 Performance Events Attendees $10.00 Ice Rink Tournaments & Fam. Rec. Attendees $58.00 Total retail expenditures $7,297,424 Total retail expenditures reduced by 20% (1) $5,837,939 GRAND TOTAL VISITOR OFF-SITE SPENDIN $22,662,478 (1) Reduced for retail sales shipped from Vail & not subject to sales tax. Source: Economics Research Associates & VVTCB PAGE 13 SCHEDULE H ESTIMATED FISCAL IMPACT OF PROPOSED ALTERNATIVES ON TOWN OF VAIL (EXCLUDING IMPACTS FROM FRACTIONAL OWNERSHIP HOUSING PROJECT) Annual Impacts from Visitor Spending Visitor Food and Beverage Spending $6,955,468 Conference Center/LC Gross F & B Spending $3,785,750 Conference Center/LC Gross Room/Equip. Spend $773,425 Visitor Retail Spending $5,837,939 Visitor Lodging Spending $9,869,071 Total Increase in Spending $27,221,653 Direct Revenues to Local Mkt. District Lodging Tax Revenue for Marketing (1.4%) $138,167 Direct Revenues to Town of Vail Lodging Tax Revenues to Town of Vail (4.0%) $394,763 Sales Tax Revenues to Town of Vail (4.0%) $694,103 Total Direct Revenues to Town of Vail $1,088,866 Source: Economics Research Associates & VVTCB. PAGE 14 ATTACHMENTS E LETTER FROM PARKING FROM ARNIE ULLVIG MHH 2? 'e1 09:32 FR FHU 303 721 0032 TO 19704792452 P.02i07 A ~ 0,15~1FELSBURG (4HOLT & ULLEVIG engineering paths to transportation solutions March 27, 2001 MEMORANDUM TO: Mr. Russ Forrest FROM: Arnold J. Uilevig SUBJECT: Joint Use Parking Evaluation of Vail Center FHU Reference No. 00-062 INTRODUCTION This memorandum documents the parking demand expected to be generated by the proposed Vail Center in Lionshead. The technical analysis consists of an afternoon and an evening parking demand for a "typical busy week" for each month of the year- The parking demand projections were developed by applying appropriate parking demand equations to a hypothetical annual event calendar for the facility. The hypothetical annual event calendar is fully documented in this memorandum so that other alternative event schedules can also be evaluated and compared. The parking demand equations that were used in this analysis are consistent with those previously developed for mixed use, shared parking areas including Vail Village and Lionshead. This preliminary evaluation emphasizes the need to verify ski season parking demand estimates in Lionshead with actual data collected during the 2000/2001 ski season. 303.721.1440 fax 303.721.0832 fhuafhueng.com Greenwood Corporate Plaza 7951 E. Maplewood Ave. Ste. 200 Greenwood Village, CO 80111 i'IHK ( '141 b~ SG 1-K r-rlU ~VJJ (Gl YJL7JG I U 17 fYJ~1 (7G4 G r. UJ/ v) r March 27, 2001 Memorandum to Mr. Russ Forrest Page 2 PARKING DEMAND FACTORS Research conducted by the Institute of Transportation Engineers, the Urban Land Institute, and the City & County of Denver has been reviewed to select appropriate parking demand factors for various types of events expected to occur at the Vail Center. These factors are documented in Table 1. Table I Parking Demand Factors by Event Type r.. .:M...w:x..r..:........r..•.:.:.:.....~..:..r.:{....: ..:.1.411.W.....:._I•..,..r.:..y..::.li::.r.r::.;,:..;:_I.. ,~w ..,.M : ".'.r.. nl . el R . rt..E~srrt. e.r;~ ev~a nt ~arac s.ics.... _ . Paricmg~beman~ ~ F 1. Convention, Conference, Meetings, 2.1 parked vehicles per 100 attendees. Seminars, or Training (Reflective of a "downtown" area with frequent transit services, shuttles, and a safe walking option.) 2. Civic Events, Banquets, Formal or Semi- 45.0 parked vehicles per 100 attendees. Formal Events 3_ Public Shows, Entertainment, Concerts, 30.0 parked vehicles per 100 attendees. Lectures or Other Audience Based Events 4. Recreational Activities, Participant Based 45.0 parked vehicles per 100 attendees. Events 5_ Employees ( 83.0 parked vehicles per 100 attendees. 6. Retail 3.2 parked vehicles per 1,000 Sq. Ft. I'IHK G ( '61 V_J7 • rK r rlU J?JJ f e-1 1JOJC l u 17 (U" f :7- G f . U", U I March 27, 2001 Memorandum to Mr. Russ Forrest Page 3 HYPOTHETICAL EVENT CALENDAR Table 2 documents the hypothetical calendar of events which could occur at the Vail Center • during the busy week of each month. Separate scenarios have been defined to reflect both daytime and evening (after 5:00 PM) conditions. In addition, 3,000 square feet of retail space and 20 facility employees are assumed to be active for all daytime events- This results in an incremental parkiiig-demand of 27 vehicles beyond the parking. demands calculated for the specific events. The evening events will have an incremental parking demand of 4 vehicles generated by a staff of 5 employees. Table 2 Attendance Estimates by Event by Month Go'hventionl, Rec-e tionak':': .n - Q . ; , : Cj.. iC; eatt? rig tfo[Ytt rite TimerpBrrod,_.,. Atfetidees Staff Event Genter ;Arts January Daytime 350 56 - 75 - 20 30 Evening - - 300 25 250 40 40 I February l Daytime 650 l 100 - 75 - 20 30 Evening - f - 400 25 250 40 40 March •Z . Daytime 650 100 - 75 - 20 20 Evening - - 500 25 250 40 40 April I Daytime 650 100 - 75 - 20 20 Evening - - 600 25 250 40 25 May Daytime 650 100 - 75 - 20 20 Evening - - - 10 50 40 25 MHk 01 b9.33 Fk FHU 303 721 0832 TO 19704792452 P.05i07 March 27, 2001 Memorandum to Mr. Russ Forrest Page 4 . . nvgn6oct/ir itio?+a1>: Cop fees ce . C vie., ea .ri'n Pf ,.i 1.o1a _ i. `L TrmeP..dnad AttR3ndees Staff Event. Genter flits. Ice Center. ' June Daytime I 850 114 - 75 - 20 40 Evening - - 800 25 250 40 60 July Daytime 1,200 139 - 75 - 20 40 Evening + - - 500 25 250 40 60 Augusf Daytime 1,200 139 - 75 - 20 40 Evening - - 700 25 250 40 60 September I Daytime 1,200 139 - 75 I - 20 20 Evening - - 700 25 I 250 40 25 October Daytime 850 114 - 75 - I 20 20 Evening - - 300 25 50 40 25 November Daytime 650 100 { - 75 - 20 20 Evening - - + 400 I 25 50 40 25 DeCember Daytime 350 56 - 75 - , 20 30 Evening - - 600 25 250 40 40 MAR 27 '01 09:34 FR FHU 303 721 0832 TO 19704792452 P.06i0? March 27, 2001 Memorandum to Mr. Russ Forrest Page 5 PARKING DEMAND ESTIMATES The parking demand factors (Table 1) applied to the hypot*tical-event calendar (Table 2) results in the estimated parking demands by monthly time period as shown in Table 3. Table 3 Parking Demand Summary - All Uses and Events .;':Total'P.rorecterl~P9kir D Even e i td. y. rn. January 123 256 February 165 301 March 165 346 April 160 384 May 160 51 June 185 490 July 212 355 August 212 445 September 176 111 October 176 189 November 160 I 234 December 123 I 391 MHK 27 '01 09:34 FR FHU 303 721 0832 TO 19704792452 P.07i07 March 27, 2001 Memorandum to Mr. Russ Forrest Page 6 PARKING AVAILABILITY IN LIONSHEAD Table 3 indicates that if the Vail Center were to be hypothetically considered as an isolated facility, it would be necessary to also construct a 490 space parking lot to accommodate the largest event of the year occurring on a June evening. However, the Vail Center is not an isolated facility, and, as a consequence, is able to utilize nearby unused parking capacity (whenever it is available), primarily at the Lionshead parking garage. The most critical time period for accommodating Vail Center events is not a June evening because excess parking is generally available in Lionshead at this time to meet the parking demand. The most critical time periods are anticipated to occur in March. During the daytime Vail Center is projected to require 165 parking spaces and during the evening 346 parking spaces. It is at these times that the unused parking supply is most variable and uncertain. During the 1999/2000-ski season Lionshead filled and vehicles were parked on the frontage road a total of 14 days, nearly all of which were weekend days or holidays. Data from the 200012001 ski season is not available as of the date of this memorandum but it is fully anticipated that all elements of the ski season including parking demands at Lionshead are much greater than the 1999/2000 season. The most likely overload scenario would probably occur if the Lionshead garage was filled to capacity on a weekday afternoon. This could potentially result in an excess parking demand of 165 vehicles. This represents approximately 4,000 (0.8 mile) linear feet of parallel parking along the frontage road. During weekday evenings it is likely that sufficient parking spaces would become available in Lionshead to reduce any parking deficiencies below 165 vehicles. However, this does not mean that deficiencies will not or cannot occur- All of these potentialities should be checked against the actual 2000/2001 ski season parking counts when they become available. AJ U/cg TnTQ1 PQFP R? iIc~Ic ATTACHMENTS F LETTERS FROM MEETING PLANNERS AND HOTELS VAIL VALLEY TOURISM & CONVENTION BUREAU VVNA 100 East Meadow Drive • Suite 34 • Vail, CO 81657 The VVTCB recently conducted a phone survey sampling the Vail community's opinions regarding group business and the Vail Center. The following list contains local businesses that endorse the meetings and conferences market, as well as the Vail Center. Of the 58 businesses interviewed, 48 indicated they support the Vail Center, which indicates an 83% approval rating. Of the ten businesses who would not offer support at this time, six indicated they did not have enough information to formulate an opinion, three felt it would be too expensive, and one business owner felt that it would not help support his business. Lodees Retail & Service Providers Antlers 4 Eagle Ranch Christiania Lodge Bag & Pac Crossroads Realty, Ltd Brandess-Cadmus Realty Destination Resorts CARExpress Evergreen Lodge Charlie's T-Shirts Lion Square Lodge Chili Willy's Lionshead Inn Colorado Mountain Express Lodge Tower Colorado Ski Museum Lodge at Vail Epicurean Catering Manor Vail Lodge Fly Fishing Outfitters Marriott Mountain Resort Golden Bear Mountain Haus Gore Creek Grille Montaneros Kaltenberg Castle Brewery Park Meadows Lodge Lakota River Guides Pinnacle Resort Systems Larkspur Restaurant Simba Run Lazy J Ranch Sonnenalp Resort Mountain Quest Sports Vail Cascade Resort Nova Guides Vail International Paragon Guides Vail Racquet Club Peregrine Wines & Spirits Vail Spa Condominium Assoc Sherpa Tours Vail Village Inn Timberline Tours Willows Tyrolean Up The Creek Vendetta's Group Sales Reservations Visitor Services Business Office 1-800-775-8245 1-800-525-3875 (970) 479-1014 (970) 476-1000 FAX (970) 479-2364 FAX (970) 476-6008 FAX (970) 479-7162 FAX (970) 476-6008 Website: www.visitvailvallev.com E-mail: vvtcb@visitvailvalley.com VAIL VALLEY VLQVA TOURISM & CONVENTION BUREAU 100 East Meadow Drive • Suite 34 • Vail, CO 81657 The following groups have given resounding endorsement (example letters attached) of the proposed Vail Center. Some of these organizations have met in Vail in the past but have not returned due to our inability to accommodate their meeting specifications "under one roof," while the remaining groups attempted to "book" their programs here but ultimately have chosen other destinations for the same reason. All of these contacts have indicated a strong probability of bringing their respective programs to Vail. As you can see, revenue implications to the community are quite strong. Customers Alpha Gamma Alpha Phi Aspen Systems Automatic Data Processors Colorado Veterinary Association Conferon D&R International The Meeting Group National Credit Union Nurse Practioners Symposium . School to Career Conference Technology in Education Group Sales Reservations Visitor Services Business Office 1-800-775-8245 1-800-525-3875 (970) 479-1014 (970) 476-1000 FAX (970) 479-2364 FAX (970) 476-6008 FAX (970) 479-7162 FAX (970) 476-6008 Website: wwtiuvisitvailvalley.com • E-mail: vvtcb@visitvailvalley.com VAILVALLEY TOURISM & CONVENTION BUREAU Lost Business....Future Opportunity! Attendees Multiplier & Family Revenue Room Lodging (1.7 per room ($199.50 per Vail Center Total Group Name Dates Nights Revenue night) room night) Revenue Revenue Alpha Gamma Rho June-Aug 12,000 $1,800,000 21,000 $2,394,000 $717,900 $4,911,900 Alpha Phi June-Aug 14,000 $2,100,000 • 24,500 $2,793,000 $834,000 $5,727,000 Aspen Systems July 16,000 $2,400,000 28,000 $3,192,000 $950,100 $6,542,100 Automatic Data Processors August 10,000 $1,500,000 17,500 $1,995,000 $601,800 $4,096,800 Colorado Veterinary Medical Society September 1,100 $165,000 1,925 $219,450 $85,155 $469,605 Conferon June-Aug 1,000 $150,000 1,750 $199,500 $79,350 $428,850 D&R International November 14,000 $2,100,000 24,500 $2,793,000 $834,000 $5,727,000 Meeting Group June 2,000 $300,000 3,500 $399,000 $137,400 $836,400 National Credit Union May 17,500 $2,625,000 30,625 $3,491,250 $1,037,175 $7,153,425 Nurse Practioners Symposium JUly-3yrContract 6,000 $900,000 10,500 $1,197,000 $369,600 $2,466,600 School to Career Conference June-Aug 2,400 $360,000 4,200 $478,800 $160,620 $999,420 Technology in Education June 2,000 $300,000 3,500 $399,000 $137,400 $836,400 Total Revenue 98,000 $14,700,000 171,500 $19,551,000 $5,944,500 $40,195,500 * Each roomnight accounts for 1.7 "Attendees & Family." Total "Attendees & Family" are calculated by multiplying roomnights by 1.7. • Multiplier revenue source - 1999 Summer Intercept Study / RRC Associates(Multiplier accounts for retail and food and beverage spending). * Revenue is calculated at $150.00 per roomnight (Source: ERA Study) VAILVALLEY TOURISM & CONVENTION BUREAU VLA 0 100 East Meadow Drive • Suite 34 • Vail, CO 81657 Ritz Carlton and Four Seasons Group and Leisure Business Vail represents a "high-end" groups and conferences demographic. There are some within our community that have expressed concern that Vail is not a meetings destination due to that "high-end" demographic to which we cater. The following is a list of Ritz Carlton and Four Seasons destination resorts and the breakdown of their business into group and leisure travelers. On average, group business makes up well over fifty percent of their overall business, which would infer that a matching customer profile exists for Vail as well. Ritz Carlton Resorts Group% Leisure% Amelia Island, FL 72% 28% Naples, FL 62% 38% Key Biscane, FL 60% 40% Laguna Nigel, CA 60% 40% Rancho Mirage, CA 60% 40% Half Moon Bay, CA 55% 45% Reynolds Plantation, GA 50% 50% Maui, HI 40% 60% Four Seasons Resorts Group% Leisure% Aviara, N. San Diego, CA 50% 50% Dallas at Las Colinas 65% 35% Maui at Wailea 33% 67% Scottsdale at Troon North 55% 45% Group Sales Reservations Visitor Services Business Office 1-800-775-8245 1-800-525-3875 (970) 479-1014 (970) 476-1000 FAX (970) 479-2364 FAX (970) 476-6008 FAX (970) 479-7162 FAX (970) 476-6008 Website: www.visitvailvalley.com E-mail: vvtcb@visitvailvallev.com • • • March 21, 2001 Dear John, It was great speaking with you recently and I cannot tell you how excited I am to here about the new Conference Center proposal for the town of Vail. Our company represents pharmaceutical companies that plan meetings accommodating 30 - 2,500 attendees. As you know, we have tried to book several programs in Vail and unfortunately have not been successful in that endeavor, due to the lack of large, flexible meeting space. With the addition of the Center and its 70,000 square feet of meeting space, Vail would definitely become a viable destination for many of our conferences. I am confident that we will partnering soon after the announcement of your Center is made public. John, please continue to keep me posted on the Center's progress and development. I look forward to have the opportunity to do some business with you... finally!! With Warm Regards, Jan Miller Senior Account Manager The Meeting Group, Inc. * To 30ua -lui0i Automatic Data Processing Emerging Business Services Division P.O. Box 297 9 Entin Road J~ Parsiovany New Jersey 07054-0297 March 13, 2001 To: John Garth Fax: 970-479-2364 From: Steven Wilson ADP Dear John, Good to hear flvw you this afternoon. Also good to hear that Vail is dVrticing about building a large conference center. ADP is a big fan of Vail, but unfortunately has outgrown your facilities. A large conference center would again make it possible for ADP to bring our President's Club trip to Vail - which we would be very interested in doing. As a matter of fact, we are considering another mountain resort, Whistler for 2002 or 2003 - since they are able to accommodate us. This sounds like a great plan for both Vail and corporate America. Please keep me updated on the status. Sincerely, Steven Wilson Director, Special Events ADP, Inc. WIA11 Co lorado Veterinary Medical Association March 13, 2001 Marci Kurronen Vail Valley Tourism & Convention Bureau 5500 South Simms Unit 0, PMB 107 Littleton, CO 80127 Dear Marci: I was pleased to hear that the Vail Town Council is considering the constriction of a convention center in Vail. As you know, the Colorado Veterinary Medical Association (CVMA) has held its annual convention in Vail in the past - but our meeting has grown to a point where we're unable to find suitable facilities that allow us to return to Vail. Our annual convention utilizes nearly 300 rooms on peak night, with a cumulative total of 1,100 room nights. While we can find a number of destinations that can match this requirement for rooms, the limitation we face is related to meeting space. In addition to the meeting space needed to conduct seven concurrent scientific sessions (plus space for all the ancillary convention activities like banquets, special events, keynote presentations, offices, etc.), we have a growing trade show that houses 70 8'x10' exhibit booths. Ideally, we look for facilities where these activities can be housed under one roof (like Snowmass Village or Keystone Resort, for example). Such a facility allows convention attendees to make efficient use of their time, be easily oriented to a facility, and increase their participation in the collegial interaction that lies at the core of a memorable meeting. Such a facility also allows the exhibitors, who contribute so much to the financial success of a convention, to be at the center of the event rather than being relegated to a tent, parking garage, or far-away exhibition hall. I'd be delighted to once again give serious consideration to booking the CVMA annual convention in Vail - but the key to this opportunity lies in the town's willingness to provide a suitable facility. I look forward to learning the outcome of the council's discussions. Sincerely, Ralph Johnson Executive Director 789 Sherman Street, Suite 550 Denver, Colorado 80203 303.318.0447 fax 303.318.0450 March 14, 2001 Marci Kurronen Vail Valley Dear Marci: Last year the School to Career Conference committee was looking for a location to hold our conference where about 600 participants could meet together for the keynote address. We were not able to really look at Vail as a viable option since the location didn't warrant enough space to accommodate us. A convention center would allocate enough seating to make it a viable option. If the town looks at the strong possibility of this kind of facility there is no question that due to the beautiful location you would be able to draw in more business. The country is finding that Colorado is more than a viable option as a resort location during the summer months as well. Thus, I would think that you could find a market for the use of facilities. Best wishes, Connie Long Connie Long, Director School to Career Resource Center Aims Community College PO Box 69 Greeley, CO 80634 970-330-8008, ext. 6740 clonw&uaims.edu Page 1 of I John Garth From: "Marci Kurronen" <marcivailvalley@gwest.net> To: "John Garth" <john@visitvailvalley.com> Cc: "lori just" <lori@visitvailvalley. corn> Sent: Wednesday, March 28, 2001 12:15 PM Subject: FW: TIE 2003,2004 This is for the Technology In Education Conference held in June 2004. They would use over 2,000 room nights with about 1,000 attendees. Marsha Celesta is the coordinator for this conference. Her phone number is 303-344-4910. -----Original Message----- From: lCelcstw i.?aol.com [mailto:MCelesta.' aol.com] Sent: Wednesday, March 28, 2001 10:26 AM To: marciiiii.visitvailvallev.com Subject: TIE 2003,2004 Thank you for the update on VaiI's plans for a conference center. We have not had a Technology in Education Conference in Vail, because Vail does not have large enough facilities for our conference. I would hope that the new conference center will have state of the art wiring or wireless internet connections. Please keep me posted on the town meeting. 4/13/01 Apr 11 01 1S:32 Montaneros in Vail 9704766926 p.2 (t 0 IN April 11, 2001 John Garth Vail Valley Tourism & Convention Bureau 100 East Meadow Drive Vail, Co. 81657 Dear John, I wanted to express my support of the proposed "Vail Center". As a member of the lodging community and a 17-year Vail Valley resident, I believe this venue will attract the type of group business and visitors we are looking for in order to increase tourism to Vai 1 year-round. As an all-condominium property and manager of private homes and condos, our company does not have meeting space or business services to accommodate the many requests we receive for group bookings and conferences. The Vail Center will certainly enhance this great resort community by offering state of the art facilities to our sophisticated clientele. I applaud your diligence in pursuing this opportuziity for the Vail community. Please let me know if I can be of further assistance. Sit cerely, Deb ay or Fish General Manager Montaneros in Vail/Prudential Gore Range Properties y I April 13, 2001 fro - ean`~7 :New? `Fii"pean Cuisine Todd Newcomer Tourism Development Associate Vail Valley Tourism and Convention Bureau 100 East. Meadow Drive Suite 34 Vail, CO 81657 Todd Newcomer I would like to express my opinion in favor of the Vail Center. Any effort to encourage destination tourist or convention guests to the Vail Valley should be embraced by the business community. Destination guests are the backbone of this resort community. They dine in the restaurants, spend nights in hotel rooms, partake in many activities this area offers (skiing, golfing, rafting etc...). Vail was conceived and built as a destination resort. I believe that the Vail Center is a necessary amenity, which will contribute to the Vail Valley's economic vitality. Sincerely, Sig Langegger Proprietor 400 east meadow drive vail Colorado 81657 970.476.2204 970.476.3652 fax. www.tyrolemi.net sig@tyrolean.net 3/30/01 Esr. 1971 John Garth VVTCB Vail, Co. 81658 Mr Garth: I am writing to express my wholehearted support for the inclusion of a group meeting facility as part of the proposed Vail Center development. Timberline Tours has been a part of the Vail Valley recreation scene since 1971. We currently employ 75 people, and provide white water rafting, jeep tours and climbing instruction for over 20,000 Vail visitor per year. "Group" or corporate clients represent as much as 40% of our annual business. Obviously we make an aggressive effort to court these groups to come to Vail. Group business is critical to the financial viability of Timberline Tours, Ever year we hear the same refrain as we attempt to recruit corporate groups. "We wanted to come to Vail. .but there are no meeting facilities that fulfill bur needs, so we decided to hold our function in ( blank I believe the proposed Vail Center Project could go a long way co changing that old refrain., Regards, Greg Kelchner, owner Timberline Tours P. 0. Box 131 Vail, CO 81658 970.476.1414 Fax 970.827.58/3+ . rrnr 17n rnr Vnnr 'F nrt -ru' 7 rtTAT rr rani 1F it t1tJ !1_1C_liXigl LION SPUARE LCD'GEAND March 26, 2001 CONFE RENCE CENTER Mr. John Garth VVTCB 100 Meadow Drive Vail, CO 81657 Dear John, I am writing in support of the proposed Convention Center facility here in Vail. It is long overdue and would help. to bring larger groups to Vail, and perhaps extend our winter/summer season. It would certainly strengthen our summer business as well. My property has conference facilities and it makes a tremendous difference in the shoulder seasons and slower weeks throughout the year. The properties without these facilities would greatly benefit, and it could help our conference business as well by bringing more groups to our valley. Please feel free to call me should you want to discuss this issue further. nk you, Bill Anderson General Manager Lion Square Lodge MANAGED BY THE RESORT COMPANY 660 W. Lionshead Place • Vail, Colorado 81657 800-525-5788 • 970.476.281 • Facsimile: 970.476-7423 • ww's.lionscluare.com • e-mail: lioascluareCvail.net 03/30/2001 12:37 9704797049 VCR EXEC OF PAGE 01/01 VAI L CASCADE R E S O R T March 30, 2001 Mr. John Garth Vail Valley Tourism & Convention Bureau 100 E. Meadow Drive Vail, CO 81657 Via Facsimile: 479-2364 Dear John: 1 am writing this letter to voice my support for the proposed Vail Center. The Vail Cascade Resort & Spa is dependent on quality group bookings for its' on-going financial success. I strongly believe that this project will provide tremendous benefit for long-term, high quality convention business, not just at our property, but also to the entire lodging community in the Vail Valley. At the present time, Vail is not able to take advantage of the large amount of group business available because of the lack of adequate facilities. As you are well aware, Vail competes with the finest resorts in North America and around the world. In order to maintain a premier presence in the marketplace, Vail needs to offer the type of amenities that the new Center will provide. The Convention Center will give Vail tourism a much-needed boost resulting in increased benefits for the economy of Vail Valley and, ultimately, provide a positive effect for those who live and work here- The multi-use character of the Center will compliment the beautiful surroundings with which we are blessed, enticing visitors especially during the shoulder season when we struggle to retain employees and maintain business levels- We appreciate the efforts you and your team are making to support this beautiful community and the quality of life that we enjoy here. Sincerely, Gary es General Manager GFAa 1900 westbaven Drtve - Vail. Colorado 81637 - 970.•178.7111 • fas 970.479.70X0 - www.eailcascade.com Horst Es' Cpnjeranre Center Spa f~ club Cundom.irtium.l private Residrrtr.ee DESTINATION .4401xL5 If "Boar] _--i-I....... 01/12/1994 18:43 9704798900 PAGE 02 L larkspur Apol 10, 2001 Mr. John Garth Val Valley Tourism and Convention Bureau 100 East Meadow Drive, Suite 34 VON, Co 81657 Re; Support for the New Vail Center Dear Mr. Garth, In December 1939, Larkspur Restaurant and Bar opened in the Golden Peak Lodge at the bate of Vail Mountain. Larkspur offers a fine dining experience in a warm and inviting atmosphere. We are able to accommodate up to 180 guests in the dining room with 80 additional seats in the bar. Due to the sole of the restaurant and our commitment to quality, we have been fortunate to attract many of the high-profile corporate groups visiting the area. We have had the pleasure of working with several of these groups for the past two seasons including Pfizer Pharmaceutical, Sear Steams and JP Morgan. At present, we have a ful!-time staff member dedicated to coordinating group functions and customer relations. Ultimately, group sales dramatically contribute to our bottom line each month. In our brief history it has become apparent how valuable groups functions are to the success of Larkspur. The Valli Center wil encourage business in Vail and provide additional opportunities to drive the economy in the shoulder seasons, We are just one example of how group business positively impWs revenue and promotes sales within the Vail Valley. The Vail Center will enrich the community and serve as a tremendous resource for both residence and visitors alike. Sincerely, Nsncy Sween*y Thomas Salamunovich rr•= ,,.,_rrant•market Golden Peak Lodge 458 Vail Valley brive Vail, CO 81657 Restaurant ?70.479.8050 Market 970.479.6055 Eax 970.479.8052 lark spurvca i I Ct:- i Mar 30 01 06:21p Four Eagle Ranch 970 926 3382 p.1 - Eagle Rana March 30;' 2001 Todd Newcomer Vail Valley Tourism& Convention Bureau 100 East Meadow Drive. Vail; CO 81G57` Dear Todd: The new Vail Community Center. will be a great selling feature for attracting more group business to the Vail Valley., Le xne -know how, 4 Eagle Ranch can support. your efforts. Sincerely, Hap Young Director of Sales L:rr~ver'(1 - 4C?$ H~v>, 1,;I VJoIcocc. Ccalorida 816- =X70 3 .<372 phnne - 9 0.926.338' fax - v4v_va'ii_iier/•leag!e r l PO Box 6113 • Vail CO. 81658 970.926.5069 Fax: 970.926.5069 E-mail: Labump@aol.eom Stephen E Karp CmQe&Gde, H mido 04/10/01 VVTCB Rea: Vail Center To Whom It May Concern; Having owned and operated (2) businesses here in the Vail Valley over the past 5 years, the need for the Vail Center along with items such as a large Convention Center are dire. Tying the two Villages together with one focal point for our guests only adds to their over all perception of Vail. The need for an area where the guest can meet, eat, rest, store items, and gather all information about their time in Vail is appropriate. The first thing at any large resort across the country is this type of area. By answering the guests question without them asking, only brings a more friendly, attractive feeling to our guest from the very beginning. Vail is a Resort; it is a very simple concept. Do what we must to please our guests with elite service and the ability to comfort them from A to Z. The need is important; the need is now for the "Vail Center" Thank You, Stephen E Karp Office: 970-926-5069 Fax: 970-926-5069 E-mail: LabUn]p(caolxom Page 1 of I Todd Newcomer From: "Bruce Gillie" <prs@vail.net> To: <todd@visitvailvalley.corn> Sent: Wednesday, April 04, 2001 12:44 PM Subject: Vail Center Dear John and Todd: I would just like to lend my support to your efforts to convince the Vail Town government of the intelligence of developing the Vail Town Center project. I have been operating hotels and lodging establishments in the Vail Valley for over 20 years and I have seen the effect the group and meeting business has had on the vitality of Vail. And I have, through relationships in Keystone, Snowmass and other competing resorts, seen the positive enhancement that conference and convention facilities have brought to those communities. Especially in the shoulder seasons and midweek periods in the summer. Many people have a misconception that conference business may not help those lodging facilities that do not have meeting space. That is a false impression. I operate largely condominiums and have no catering, food service or meeting rooms. But every time the Sonnenalp or the Marriott or the Cascade fill up with convention business my owners realize increased occupancy and revenue as the overflow and displaced hotel guests spread throughout the community. And as the year-round economy grows it benefits all businesses. Restaurants stay open longer, Retail shops can afford to stay afloat and pay the rent 12 months of the year, Even the stationary stores, gas stations and baby-sitting services enjoy increased profits. In thinking about the benefits of the Town Center project I am at a loss to find a single negative from a business standpoint. And I have not even given any consideration to the increased recreational and cultural opportunities that the project presents to the citizens of Vail and the Eagle Valley. Please, if you, or any of the council members, have any other questions or concerns feel free to contact me at your convenience. Bruce Gillie Pinnacle Resort Systems 04/04/2001 d;A2 VAIL CENTER Category: Business VAIL CENTER TO: JOHN GARTH-VVTCB FROM JIM PELDHAUS--CME DATE 3127101 RE: THE VAIL CENTER JOHN PLEASE BE ADVISED COLORADO MOUNTAIN EXPRESS STRONGLY SUPPORTS THE DEVELOPMENT OF THE VAIL CENTER PROJECT AND THE MANY BENEFITS THE CENTER CAN PRODUCE FOR LOCALS AND GUESTS FOR YEARS TO COME. THANKYOU 1 1 1 !I I i i I 312712001 t 1.2.8 AM Page 1 292-4 10/lo d 18Z-l 22MV81116 snNdY3 NltliNtlow oavaol00-word oq:Zl I0_lZ-1Eyry Page 1 of 1 r John Garth From: "MacLachlan, Don" <DMacLachIan@DestinationHotels. corn> To: <john@visitvailvalley.com> Sent: Wednesday, April 04, 2001 8:20 AM Subject: Vail Center John Following up on some of the conversations we have had in the past, I believe the development Vail Center is an important item for Vail to undertake. Group business must continue to grow for Vail, in order for our community to successfully compete in the competitive resort market place. The growing bed base and the enhanced infrastructure that competitive resorts are experiencing makes this more critical than ever. Group business currently makes up 30% of our business at Vail Cascade Condominiums. I believe the Vail Center will enhance this component of our business and provide additional tax revenues to the Town of Vail. Please let me know how I can help in the discussion and approval process. DMacLachlan Don MacLachlan General Manager Vail Cascade Condominiums 4/5/01 Page 1 of 1 Todd Newcomer From: "Bill Perry" <fish@vail.net> To: <todd@visitvailval ley. corn> Sent: Monday, April 03, 2000 11:32 AM Subject: Convention Center Support Vail Town Council, Please be open to the idea of a new convention center. We rely on groups for a substantial portion of our business and a convention center with capacities far beyond our current recourses would enhance business for all local service companies. Bill Perry Fly Fishing Outfitters P.O. Box 2861 Vail, CO. 81658 1-800-595-8090 http://www.flyf-ishingoutfitters.net 04/03/2001 Page 1 of i John Garth From: "Willard, Polly" <PWillard@DestinationHotels. corn> To: <john@visitvailvaIley. corn> Sent: Thursday, March 29, 2001 3:07 PM Subject: Vail Center Hi John. Lori asked me to write a quick blurb about us supporting the Vail Center.... Destination Resorts is in full support of the Vail Center project, due to the potential of substantial growth in the group/meeting market it promises to bring to our community. During the summer and especially the off-season months, which currently represent only about I I% of our annual revenue, many condominium units often sit empty for weeks at a time. Both Destination Resorts, along with the individual owners of the units, would benefit greatly by providing lodging during these "need" periods to the Vail Center function attendees and therefore increasing our annual revenues through the now "slower" months. Not only do we feel that this new Vail Center would help our specific company profit more, however, it will also bring much deserved and well-needed (to pay those current high rents!) revenue sources for all merchants in the area: restaurants, shops, delis, etc! The proposed learning center and recreational facilities will also bring great community enhancement to our valley, Hope that helps John. Let me know if there is anything else I should mention..... Polly Willard Director of Sales & Marketing Destination Resorts- Vail Landmark Properties p\.villard!ir!destinationhotels.com (970) 476-1350 4/5/01 Page 1 of i a . ~ John Garth From: "Matt Ivy" <ivy@coloradc.net> To: <john@visitvailvalley.com> Sent: Thursday, March 29, 2001 6:07 PM Subject: conference center Hi John, I understand that you are rallying support for the proposed conference center. I feel that it is vital to the ongoing success of Vail to have a facility that can house a variety of large groups. As a community we are currently missing out on a segment of the market that can dramatically affect the bottom line of every business in Vail. The Vail Racquet Club strongly supports this effort and I feel that our Association will directly benefit from such a facility. Thank you for vour work on behalf of the community. Please let me know if I can be of further assistance. Matt 415101 y r Attachment D Public/Private use of the Vail Center Vail Center Uses Culture & Community - Theater- Auditorium 12° :A.>t Learning & Meeting Recreation 43% Note: Uses represented as a % of total space Meeting/Learning Space Availability for Community Use (Days Per Year) 0 Conference Use 27% (Pays for 97% of the operational cost) 0Available for Community Use 73% -267 days Ice Rink Availablity Used for Events 14% '•.:.vti.:4.. '+\4.0. vi~4'{{h`:;?``::•.`. • • •`••:•`•vitii~t?.. Available for Community Use 86% Other Ideas for Using the Meeting Space for Community Events Provided by Joel Heath • Vail's Halloween Bash: We have a huge hole in our event's calendar between the conclusion of Oktoberfest and the start of the season. The weather is too cold outside, but if we had the Town Hall we could do a major event in that space. • Battle Mountain and Vail Mountain School's Prom, Homecoming and Graduation: A space like the Town Hall would be perfect for the schools to have a space to hold their annual function. • Season Kick-Off Party: This past year Vail Resorts/TOV and the VVTCB teamed up to do a season kick-off party. We had a tough time with finding a venue, Dobson was too big and the bar's were too small, so we ended up outside with very cold weather and a lot more expenses. The Town Hall would be the perfect space for community celebrations because we could make it as big or little as needed. • Vail Alumni Party: Working with the private ballrooms can be cost prohibitive at times, because you have to use their food vendors and pay them corking fees for wine, beer etc.. The Town Hall would be a great place to put on the Alumni Party I have always wanted to do, where we could have live bands from the past, slide shows etc. • Concerts: In all my years of coaching, the kids always tell me they wish there were more all ages concerts. The Town Hall would give a promoter a better venue to do concerts. The advantage over Dobson is that it would be a space size that could be flexible to meet the needs of big bands or regional bands. I would guess the acoustics would be much better as well. • Night Components to Summer Events: With our current summer events, we close down the street festivals early so we can be cleaned up by sundown. With an indoor venue we can now take an event inside to add more entertainment to the event. Currently Dobson is hard to work with, because it would take a great deal of $ to convert it to a festive environment and unless you can fill the whole space (3000 people) it can feel empty even if you have a 1,000 people. • Religious Services for "Big Holidays: Easter and Christmas • Registration for Events: We constantly are challenged to find a venue that can accommodate mass registration for events. The Town Hall would be a perfect spot to have flexibility and size for registration. • Voting: It seems every time I vote I have to go to weird places to cast my ballot. The Town Hall could accommodate all precincts in one location. • Big Town Meetings: There have been many times in the last couple of years that Council Chambers have been filled beyond capacity. It would be nice to have access to any size room we want. The Vail Center Frequently Asked Questions GENERAL OVERVIEW Q: What is the Vail Center? A: The Vail Center has three aspects to it. First, it is a community center offering a variety of activities and programming - both recreational and cultural designed to appeal to and enrich the lives of Vail's residents and visitors of all ages and interests. Second, it is a meeting facility, with "for rent" meeting space of a size not currently available in Vail, designed to attract groups in the shoulder seasons and generate additional economic activity for the hotels and other commercial enterprises of the town while generating revenue to help off-set the Vail Center's operating costs. Third, it is a Learning Center that will share the space used for meetings to host its own conferences and seminars around locally sponsored themes such as the environment, leadership, and health and wellness, and which will also attract visitors to Vail and help diversify the town's skiing economy by adding a new component the "learning economy". It is important to note that the three aspects of the Vail Center are like the three legs of a stool - remove one and the stool falls. Remove recreation and we lose the support of a large portion of the electorate not to mention the Town Council. Remove meetings and we lose the support of the business community and the revenue generating capacity that will help pay to operate the Vail Center in the future. Remove the learning and cultural aspects and we lose the ability to attract private charitable contributions to help pay for a significant part of the construction cost and endow on-going cultural and educational programming, and we lose the opportunity to build a learning economy to lessen our current dependence on snow sports. The Vail Center will include youth-oriented recreational facilities, including an indoor ice rink, a skatepark, a climbing wall and a youth center. It will include a 200-seat auditorium with stage, suitable for community-theater, music recitals, movies, lectures and the like. It will include a 20,000 square foot meeting space, twice as large as the largest existing space in the valley, that can accommodate groups of up to 750 people, that can be used for special events seating up to 1,500 people, and that can be subdivided to accommodate smaller groups. It will include a variety of meeting and presentation rooms for the Learning Center that will also be used as breakout rooms for third-party meetings. In addition, the "footprint" for a first-class performing arts center with seating for 1,500 or more will be committed to now. The performing arts center will be designed, funded and built at some time in the future. Q: Why do we need the Vail Center? A: Our community needs expanded recreational opportunities, especially for young people; it needs a space for community theater and other performances; it needs facilities for large meetings that currently want to book in the valley but cannot because of inadequate meeting space; it needs to strengthen the seasonal economy by attracting visitors in the off-season with high-quality educational and cultural programming. We need to build the Vail Center to meet those needs. We need to build the Vail Center to create a vibrant, sustainable community in which we all can be proud to live. Q: How did the multi-use idea for the Vail Center evolve? A: Vail Town Councils have, for many years, been receiving feedback about desired amenities from residents, second homeowners and visitors. The current Council knew that earlier attempts to get voter support for developing the charter bus site had failed because voters did not clearly see what benefits they would derive from such a facility. The multi-use idea developed from a desire to provide as many benefits as possible to potential users and from the very practical needs to make the facility attractive to private donors and economically self-sustainable. It reflects the natural convergence of community and resort needs. Q: Where will the Vail Center be located? A: The Vail Center will be built on a 1.2 acre town-owned site to the east of the Lionshead parking structure and, possibly, on the 3.5 acre parking structure site itself. The 1.2-acre site is undeveloped and underutilized, currently used as a parking lot for oversized buses and other large vehicles. With Dobson Ice Arena and the Vail Public Library located nearby, the site provides an exceptional opportunity to further showcase Vail's cultural, recreational and educational characteristics. Architects are exploring scenarios that will integrate the adjacent facilities and incorporate a new parking structure into the design. Q: How much will it cost and how will we pay for it? A: The total cost is subject to design and project phasing decisions yet to be taken. The cost would be financed through a combination of public financing for the recreational and meeting components of the structure, and private charitable donations for its cultural and learning components. The public funds would come from a new municipal bond issue to be serviced in part by a proposed increase in the property tax that could be presented for voter approval this November. Q: How does this project fit into the Vail Renaissance plan? A: The Vail Center is one of the most visible components of the Vail Renaissance program, a series of public and private reinvestment initiatives that will help Vail remain one of the world's leading mountain resort communities. Other projects underway, in various stages of implementation, include a remodel of Dobson Ice Arena, redevelopment of the Antlers Lodge, Marriott Mountain Resort, Concert Hall Plaza and the pending announcement of an overhaul of the former gondola building. In Vail Village, redevelopment applications will soon be submitted for the Sonnenalp Resort and Swiss Hotel and Spa, plus a new "front door' project at the base of the Vista Bahn. Also, an overhaul of East and West Meadow Drives is planned in 2002 to create an improved connection between Vail Village and Lionshead. This plan is being coordinated with additional redevelopment proposals submitted by Vail Valley Medical Center and the Vail Chateau property. In addition, completion of the reconstruction of the Gerald R. Ford Amphitheater Viiar Pavilion is scheduled in June. And lastly, lodging quality, retail quality and guest service initiatives are all underway as Vail looks to maintain its world- class stature. r Q: Who is involved in the planning for the Vail Center? A: Any one who wants to can be involved. Already, dozens of volunteers have offered their professional expertise in the areas of fund-raising, operations and communications, while others have stepped forward to help advance ideas for the Learning Center. The Town of Vail also has had significant involvement as it works with the community to determine programming elements, space requirements, architectural design and other components in a cost-share partnership with the Vail Recreation District. Assisting both entities is the White River Institute, a local non-profit personal leadership development organization, which has been under contract to help coordinate the complex nature of the planning and to help build community consensus. Vail Resorts also has stepped forward to offer technical assistance. Additional outreach efforts will continue as the project evolves. RECREATION 0: What are the recreational components of the Vail Center? A: 1) Indoor ice rink to augment Dobson Arena 2) Skatepark 3) Youth Center, which includes indoor playground, climbing wall, youth games and a multi-purpose room for arts & crafts, birthday parties, etc. 0: Do we really need a second sheet of ice? A: Yes. The current demand for ice time is several times what Dobson can accommodate. Also, with two adjacent ice sheets, the center will help Vail become an attractive venue for major ice events that will draw participants and their families to the region's new "ice mecca." In addition, the new ice sheet will be maintained for ongoing community and guest skating while Dobson Arena will be used increasingly for special events that attract visitors and generate revenues for the Town and for local businesses. Q: What is the "youth center"? A: The youth center would encompass everything from the skatepark to an indoor playground to games to a dance floor. The center is not limited to youth, although portions would be restricted to specific age groups. The goal is to provide a safe and stimulating environment for residents and visitors that would appeal to every age. Some activities would be programmed, while others would be available on a drop-in basis. 0: Do we really need a skatepark? A: Yes. Presently, 50 to100 skaters a day use the outdoor, seasonal facility. An indoor, year-round park will be unique within mountain resort communities and one of the top 20 in the U.S. It will play a role in vacation planning decisions for families. Skaters travel like skiers/snowboarders to try different parks. It will attract "day skaters" from all over Colorado throughout the year. It will help our seasonal employees, as well as attract employees to work in Vail. MEETINGS Q: What meeting space will be provided in the Vail Center? A: The "for-rent" meeting space will consist of a 20,000 square foot space that could be subdivided into eight smaller spaces, plus two 5-6,000 square foot ballrooms. The large meeting space is designed to host meetings of up to 750 people and is twice as large as existing meeting space in the valley. It would have a small stage and could be used for community and other special events seating up to 1,500. Q: Why include meeting space? A: The meeting component of the Vail Center was included for two fundamental reasons: to benefit the local business community by helping to attract new visitors, primarily during the shoulder seasons, and to provide revenue to off-set the significant operating costs anticipated for the Vail Center. It is projected that meetings hosted at the Vail Center (either sponsored by third-parties or by the Learning Center) could generate 59,000 room nights per year and $25 million in annual spending. Q: Is a 20,000 square foot meeting facility what we need? A: The Vail community is extremely limited in its ability to provide meeting space for groups of over 400. As many as four to six significant groups per month are turned away due to lack of facilities large enough to host their meetings. Our lodging bed-base was built to accommodate the peak demand for leisure travel generated during the rapid growth of skiing in the '70s and `80s. With skier numbers at a plateau, we now have an oversupply. Meeting facilities that are large enough to satisfy current demand would enable us to utilize the existing rental bed-base during periods in which peak demand is not generated by skiing. The proposed meeting space has deliberately been sized to be larger than any existing or currently planned facility in the valley. The existing major conference hotels universally support the need for meeting space of the magnitude being proposed. Proposed hotels at this time are including meeting space complementary to the number of rooms being built, but not enough to take care of the community's need to support existing lodging infrastructure. CULTURE Q: What is the cultural component of the Vail Center? A: Initially, a 200 seat auditorium with stadium seating, stage, projection booth and sound system, will be included in the Vail Center to satisfy currently unmet community demand for an affordable venue for community theater, music recitals, movies, lectures and the like. This auditorium would also be used in conjunction with meetings and Learning Center programs. Space for art exhibitions is also planned. This space will be paid for by private charitable contributions. Q: Why aren't we building a large performing arts center? A: It is explicitly understood that Vail should aspire to a first class performing arts center, to be part of the Vail Center, with seating for approximately 1,500. However, leaders of the local arts community are in agreement that a facility of that size would be too costly today and could not be filled frequently enough today to make it economically viable. Accordingly, the architects working on the Vail Center have been instructed by the Town Council to dedicate the "footprint"for a performing arts center within the area of the anticipated new parking garage, and to design the footings and other supports within the parking structure so that such a performing arts center can be constructed at some time in the future. The local arts community, representing music, ballet, theater and the visual arts, will work together to develop programming that, over time, will attract audiences of the size needed to justify and support the performing arts center we would all like to see. LEARNING Q: What is the learning component of the Vail Center? A: The learning component of the Vail Center is perhaps the most exciting because it has the potential of developing into a second economic pillar for our Town, complementing the seasonal snow sport economy with a year-round "learning economy". The Learning Center will be built around a variety of broad themes that are of vital interest to millions of aware and caring people around the world. Three themes have already been identified - Mountain Stewardship, Leadership, and Health and Wellness - and additional themes will be developed in the future. Through strategic alliances with organizations that share an interest in these themes, the Learning Center will develop seminars, conferences, symposia and the like that will attract new visitors to our valley. There will be lectures, film series, workshops, retreats and every other imaginable form of bringing people together. Leadership and Mountain Stewardship are already organizing activities, and Health and Wellness is in the planning phase. Lest anyone think this is "pie-in-the-sky", consider the recent United Nations North American Roundtable on Sustainable Development, held in Vail from June 6-9. This event, organized through the efforts of Kim Langmaid's Gore Range Science School and Terry Minger's Center for Resource Management, attracted over 30 "eminent persons" from 23 countries -government officials, business leaders, non-governmental organization members and academics - to discuss the challenging issue of sustainable development. Several events during the session were open to and well attended by local residents, including a dialogue on sustainability issues facing the Vail Valley. In June 2002, a follow-up event is expected to attract over 200 participants from around the world and locally. This event will mark the UN Year of the Mountains and Eco-Tourism - an ideal event for Vail as well as the official start of our own Center for Mountain Stewardship. These events show how an effectively organized program around a theme of global importance can attract visitors to Vail from around the world and provide stimulating programming for residents. Learning at the Vail Center is more about programming than space. The same meeting rooms that will sere learning programming will also serve third-party meetings and conferences as breakout rooms. Simply stated, a Learning Center meeting will be no different than a meeting of IBM executives, except that it will be arranged by the Vail Center - it will be "our" meeting as contrasted with "their" meeting. For visitors drawn to Vail for a Learning Center program, the economic benefits to Vail hoteliers and other merchants will be the same as those for third-party meetings, with the added benefit that interested residents will also be able to participate in the program. The Learning Center space will be paid for by private charitable contributions. In summary, the Learning Center will help Vail develop a new resort/community model, and if we can pioneer this blend of education with recreation, we will stand apart from our competitors far into the future. OPERATIONS Q: Who is going to own the Vail Center? A: The Town of Vail owns the land on which the Vail Center will be located. Several different public/private ownership scenarios are being considered for the building itself. Ultimately, the Town Council will decide the question of ownership. Q: Who is going to operate the Vail Center? A: Once the Vail Center becomes a reality, bids will be sent out to various conference/ convention center management companies. It is also likely that local organizations, such as the Vail Valley Tourism and Convention Bureau, will submit management proposals for consideration. An agreement with the Vail Recreation District also is contemplated for management of the recreational facilities. Q: What guarantees will there be that the community can get access to the Vail Center? A: The Vail Center is first and foremost for the community of Vail, and those involved in its planning are very sensitive to the need to protect the interests of the community. As a result, policies related to access and affordability have been drafted and shared with many local non-profit organizations, education representatives and community leaders. Q: Will community access be affordable? A: It is anticipated that an endowment will be raised from private charitable sources to underwrite the cost of using the Vail Center by qualified organizations. Access to the Vail Center's new recreational components will be handled in a manner similar to the programs and facilities currently operated by the Vail Recreation District. THE DESIGN AND APPROVAL PROCESS Q: Who will design the Vail Center? A: Designers from three architectural firms EDAW of Denver, Zehren and Associates of Avon, and Hammel, Green and Abrahamson of Minneapolis are doing the initial site planning and floor plans. If the project is submitted to voter approval and approved in November, additional funding will be allocated to complete the design process and take it through the approval process. ROLE OF THE WHITE RIVER INSTITUTE Q: What has been the White River Institute's role in the Vail Center to date? A: Thus far, White River Institute has guided a variety of planning teams and committees to refine an integrated approach to the recreational, cultural/educational and meeting uses of the Vail Center. This work resulted in a comprehensive Concept Paper issued in December and a preliminary Business Plan in March that included capital, operating, fund raising and communications components. The Institute also formed a new 501 c-3 charitable organization, initially known as the Renaissance Foundation, as the entity through which private charitable funds could be raised for the project. The Town Council has approved the initial board and officers of this entity. THE VAIL CENTER AND YOU Q: How can I help make the Vail Center a reality? A: Make it your personal responsibility to get to know the Vail Center and to get involved in the planning process. This project will not succeed without your informed support. These are some of the ways you can support the Vail Center: • Become a volunteer - call The White River Institute at 926-7800. • Attend Council sessions where the Vail Center is being discussed • Engage in dialog and informative updates on the Vail Center Web site at www. vailcenten ors 5 MEMORANDUM TO: Planning and Environmental Commission FROM: Department of Community Development DATE:. June 19, 2001 SUBJECT: Update and Board/Staff Recommendations on the Daymer Corporation's request for the establishment of the Vail Plaza Hotel West Special Development District (SDD #36) to allow for the construction of a new conference hotel at 13 Vail Road / Part of Lots A, B, C, Vail Village Filing 2. Applicant: Doramar Hotels, represented by the Daymer Corporation Planner: Brent Wilson 1. UPDATE ON RECENT DEVELOPMENTS The following is a synopsis of the progress of the SDD application since the Town Council's conceptual review on May 15th: ¦ Guest Exit Drive Alianment -The Town's transportation engineering consultant provided a final engineered design for the shared Alpine Standard / Vail Plaza Hotel West access point along South Frontage Road. This design has been incorporated into the applicant's site plan and reviewed and approved by the Town Engineer. The revised access point is much safer and more practical than what exists on the site today. ¦ Memorandum of Understandina -The Town and the Developer have entered into a Memorandum of Understanding (attached) to outline the developer's responsibilities regarding off-site/public improvements. A more detailed Developer Improvement Agreement is being drafted to outline the specifics (hours of construction, traffic control, etc.). This document will address many construction impact concerns expressed by adjacent property owners and will be available for council review and approval prior to second reading of Ordinance No. 14, Series of 2001. ¦ Revised Traffic Report -A discrepancy between the applicant's traffic counts and Alpine Standard's transaction numbers has been remedied upon further review of the traffic consultant's calculations by the Town Engineer. Staff believes the final traffic study is accurate and rationally sound. Based upon this study, staff is requesting $425,000.00 in road impact fees, due to a projected increase of 85 vehicular trips along South Frontage Road during peak hours from this project. ¦ Emr)lovee Housina Storaae - In accordance with the PEC's condition of recommending approval, the applicant has provided additional storage areas for the employee housing units. Please refer to the attached plan reductions for details. 1 II. STAFF, PEC AND DRIB RECOMMENDATIONS STAFF RECOMMENDATION The Department of Community Development recommends the Vail Town Council approve (via Ordinance No. 14, Series of 2001) the applicant's request for the establishment of the Vail Plaza Hotel West Special Development District (SDD) to allow for the construction of a new conference hotel, subject to the following finding: That the proposed special development district, the Vail Plaza Hotel West, complies with the nine design criteria outlined in Section 12-9A-8 of the Vail Town Code. The applicant has demonstrated that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided. Per the PEC and staff recommendations, the following conditions have been added to Ordinance No. 14, Series of 2001: 1. That the Developer submits the following plans to the Department of Community Development for review and approval as a part of the building permit application for the hotel: a. An Erosion Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; c. A Stormwater Management Plan; d. A Site Dewatering Plan; e. A Traffic Control Plan; f. A Spraddle Creek routing and containment plan; and g. An environmental audit including soils and stream conditions (during excavation). 2. That the Developer provides deed-restricted housing that complies with the Town of Vail Employee Housing requirements (Chapter 12-13) for a minimum of 28 employees, and that said deed-restricted housing be made available for occupancy, and that the deed restrictions are recorded with the Eagle County Clerk & Recorder prior to requesting a Temporary Certificate of Occupancy for the Vail Plaza Hotel West. The required Type III deed-restricted employee housing units shall not be eligible for resale and the units will be owned and operated by the hotel and said ownership shall transfer with the deed to the hotel property. 3. That the Developer submits a final detailed landscape plan to the Community Development Department for Design Review Board review and approval prior to making an application for a building permit. This plan will involve the removal of the obsolete delivery bay asphalt for the Chateau Vail on the Nine Vail Road property (Lot B, Vail Village Filing #2). 4. That the Developer submits a complete set of civil engineer drawings for all off- site improvements, including the improvements to the South Frontage Road, Vail Road and West Meadow Drive for review and Town approval prior to application for a building permit. 5. That the Developer submits a complete set of plans to the Colorado Department of Transportation for review and approval of a revised access permit, prior to 2 application for a building permit. 6. That the Developer records an easement for Spraddle Creek. The easement shall be prepared by the Developer and submitted for review and approval of the Town Attorney. The easement shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a Temporary Certificate of Occupancy for the project. 7. That the Developer submits a final exterior building materials list, a typical wall section, comprehensive sign program, rooftop mechanical equipment screening plan and complete color renderings for review and approval of the Design Review Board, prior to making an application for a building permit. 8. That the Developer posts a bond to provide financial security for the 150% of the total cost of the required off-site public improvements. The bond shall be in place with the Town prior to the issuance of a building permit. Pursuant to Section 12- 7A-14, Town of Vail Code, the applicant shall pay road impact fees in an amount that is directly proportionate to the anticipated new road impacts generated by this development ($5000 X 90 new projected peak hour trip ends, for a total of $485,000.00). This dollar amount will be put in escrow once a building permit is issued. Any actual improvements constructed to the frontage road will be credited against the total. The escrowed dollars will be held for a period of 10 years from time of permit issuance. If and when any sort of funding mechanism is put in place (such as a special district which this development participates in) any dollars generated from the development will be offset by the amount owed. If there is an excess, it will be refunded. Any shortfall will be made up by the escrowed dollars. 9. That the Developer either receives approval from the neighboring owner's associations to allow for construction activities on neighboring properties or submits a construction staging and limits of disturbance plan that indicates all of these activities will occur on the applicant's property, prior to application for building permit. 10. That the Developer agrees to provide ingress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 from Vail Road across the subject property and egress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 across the subject property to South Frontage Road. These easements will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. The easements will be in effect as long as the surface parking exists on the Nine Vail Road property (Lot B, Vail Village Filing #2). 11. That the Developer agrees to provide egress (via a legally binding easement agreement) from Lot A, Vail Village Filing #2 across the Developer's property via the proposed guest access drive, as described on the Approved Development Plan dated May 30, 2001. This easement will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. 12. That the Developer submits civil drawings to determine compliance with all Town of Vail engineering requirements prior to final Design Review Board approval. This includes the coordination of the relocation of the existing electric 3 transformers on the property with local utility providers. The revised location of the transformers will be part of the final landscape plan to be submitted for review and approval by the Design Review Board. 13. That the Town and the Developer enter into a Developer Improvement Agreement to outline obligations and responsibilities for off-site improvements, hours of construction activity, traffic management and other related issues in accordance with the Approved Development Plan and the Memorandum of Understanding dated June 1, 2001, prior to the issuance of a building permit for the Project. PLANNING AND ENVIRONMENTAL COMMISSION RECOMMENDATION At its May 14th meeting, the Town of Vail Planning and Environmental Commission (PEC) voted (5-1; Cleveland opposed, Doyon absent) to recommend approval of the proposed special development district to the Vail Town Council with the following finding: That the proposed special development district, Vail Plaza Hotel West, complies with the nine design criteria outlined in Section 12-9A-8 of the Town of Vail Municipal Code. The applicant has demonstrated to the satisfaction of the Commission that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided. Further, the Commission finds that the requested conditional use permits to allow for the operation of a fractional fee club and the construction of Type 111 employee housing units comply with the applicable criteria and are consistent with the development goals and objectives of the Town. This recommendation of approval carries the following conditions: 1. That the developer submits the following plans to the Department of Community Development for review and approval as a part of the building permit application for the hotel: a. An Erosion Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; C. A Stormwater Management Plan; d. A Site Dewatering Plan; e. A Traffic Control Plan; f. A Spraddle Creek routing and containment plan; and g. An environmental audit including soils and stream conditions (during excavation). 2. That the developer provides deed-restricted housing that complies with the Town of Vail Employee Housing requirements (Chapter 12-13) for a minimum of 28 employees, and that said deed-restricted housing be made available for occupancy, and that the deed restrictions are recorded with the Eagle County Clerk & Recorder, prior to requesting a Temporary Certificate of Occupancy for the Vail Plaza Hotel West. 3. That the developer submits a final detailed landscape plan to the Community Development Department for Design Review Board review and approval prior to making an application for a building permit. This plan will involve the removal of the obsolete delivery bay asphalt for the Chateau Vail on the Nine Vail Road 4 property. 4. That the developer submits a complete set of civil engineer drawings for all off- site improvements, including the improvements to the South Frontage Road and West Meadow Drive for review and Town approval prior to application for a building permit. 5. That the developer submits a complete set of plans to the Colorado Department of Transportation for review and approval of a revised access permit, prior to application for a building permit. 6. That the developer meets with the Town staff to prepare a memorandum of understanding outlining the responsibilities and requirements of the required off- site improvements, prior to first reading of an ordinance approving the special development district. This includes streetscaping improvements along South Frontage Road and West Meadow Drive in accordance with the Town of Vail Streetscape Master Plan, as amended. 7. That the developer records an easement for Spraddle Creek. The easement shall be prepared by the developer and submitted for review and approval of the Town Attorney. The easement shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a Temporary Certificate of Occupancy. 8. That the developer submits a final exterior building materials list, a typical wall section and complete color renderings for review and approval of the Design Review Board, prior to making an application for a building permit. 9. That the developer submits a comprehensive sign program proposal for the Vail Plaza Hotel West for review and approval of the Design Review Board, prior to the issuance of a Temporary Certificate of Occupancy. 10. That the developer submits a rooftop mechanical equipment plan for review and approval of the Design Review Board prior to the issuance of a building permit. All rooftop mechanical equipment shall be incorporated into the overall design of the hotel and enclosed and screened from public view. 11. That the developer posts a bond to provide financial security for the 150% of the total cost of the required off-site public improvements. The bond shall be in place with the Town prior to the issuance of a building permit. 12. That the developer either receives approval from the neighboring owner's associations to allow for construction activities on neighboring properties or submits a construction staging and limits of disturbance plan that indicates all of these activities will occur on the applicant's property. 13. That the developer provides access (via a legally binding easement agreement) for the Nine Vail Road Association and guests to enter the subject property from Vail Road and exit across the subject property from the location of Nine Vail Road's surface parking area to South Frontage Road. This is necessary to facilitate the applicant's proposed traffic circulation plan. The easement will be in effect as long as the surface parking exists on the Nine Vail Road property. 5 14. That the applicant submits civil drawings to determine compliance with all Town of Vail engineering requirements prior to final Design Review Board approval. 15. Pursuant to Section 12-7A-14, Town of Vail Code, the applicant shall pay road impact fees in an amount that is directly proportionate to the anticipated new road impacts generated by this development ($5000 per peak hour trip end). A specific amount for road impact fees will be declared (and adopted via a .memorandum of understanding), based upon the anticipated new road impacts outlined in the applicant's traffic study. This dollar amount will be put in escrow once a building permit is issued. Any actual improvements constructed to the frontage road will be credited against the total. The escrowed dollars will be held for a period of 10 years from time of permit issuance. If and when any sort of funding mechanism is put in place (such as a special district which this development participates in) any dollars generated from the development will be offset by the amount owed. If there is an excess it will be refunded. Any shortfall will be made up by the escrowed dollars. 16. That the applicant complies with all fire department staging and access requirements pursuant to Title 14 (Development Standards), Vail Town Code. This will be demonstrated on a set of revised plans for town review and approval prior to building permit submittal. 17. That the required Type III deed-restricted employee housing units shall not be eligible for resale and that the units be owned and operated by the hotel and that said ownership transfer with the deed to the hotel property. 18. That the developer coordinates the relocation of the existing electric transformers on the property with local utility providers. The revised location of the transformers will be part of the final landscape plan to be submitted for review and approval by the Design Review Board. 19. Prior to first reading of an ordinance adopting a special development district for the property, the developer shall resolve the guest exit drive alignment to the satisfaction of the town engineer. 20. Within the parameters of the approved building envelope, an additional common employee storage area must be provided. 21. An additional six inches of height (per storey) may be added along the South Frontage Road wing within Levels 4 and above. DESIGN REVIEW BOARD RECOMMENDATION At its April 18th meeting, the Town of Vail Design Review Board (DRB) voted to recommend approval of the proposed special development district to the Vail Town Council with the following finding: That the proposed special development district is in general compliance with the town's design guidelines and SDD design criteria, although additional attention should be given to Criterion A (Compatibility) with particular regard to scale and bulk. 6 VAIL PLAZA HOTEL WEST SPECIAL DEVELOPMENT DISTRICT MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding (MOU) is entered into by and between the Town of Vail, Colorado ("The Town") and the Daymer Corporation, including its successors and assigns ("The Developer"), hereinafter referred to as the Parties. A. PURPOSE: To establish mutual responsibilities regarding certain off-site or public improvements that would be provided as a result of the construction of the Vail Plaza Hotel West (part of Lots A, B, and C, Vail Village Filing #2), pursuant to the Daymer Corporation's Vail Plaza Hotel West Special Development District application. These improvements are required due to design and operational aspects of the hotel or the requirements of Town planning documents such as the Streetscape Master Plan. B. OBJECTIVE AND STATEMENT OF MUTUAL INTERESTS AND BENEFITS: It is to the mutual benefit and interest of the Parties to ensure the responsibilities of each party are clearly established prior to first reading of an ordinance adopting a special development district for the subject property. C. THE DEVELOPER SHALL: 1) Off-Site / Public Improvements. The Developer shall, at the Developer's sole cost and expense (except as specifically hereinafter provided) complete the following Improvements: (a) West Meadow Drive: The Developer agrees to design and construct streetscape improvements along West Meadow Drive including sidewalks, roads, medians, plazas, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities, as described in the Approved Development Plan dated June 11, 2001. This plan will involve the removal and re-vegetation of the obsolete delivery bay asphalt for the Chateau Vail on the Nine Vail Road property (Lot B, Vail Village Filing #2). The developer's construction obligation will include both the subject property and the public right-of way directly abutting the subject property up to the centerline of West Meadow Drive. The developer agrees to construct the streetscape improvements in accordance with the pending West Meadow Drive streetscape design to be approved by the Town of Vail. These improvements will be in place prior to the issuance of a Temporary Certificate of Occupancy for the project. (b) South Frontaae Road: The Developer agrees to design and construct streetscape improvements along South Frontage Road including sidewalks, roads, medians, plazas, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities, as described in the Approved Development Plan dated June 11, 2001. These improvements will be in place prior to the issuance of a Temporary Certificate of Occupancy for the project. (c) Vail Road: The Developer agrees to design and construct streetscape improvements along Vail Road including sidewalks, roads, medians, plazas, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities, as described in the Approved Development Plan dated June 11, 2001. These improvements will be in place prior to the issuance of a Temporary Certificate of Occupancy for the project. (d) Spraddle Creek: The Developer agrees to provide an adequate engineered containment system and to record an easement for Spraddle Creek. The easement shall be prepared by the Developer and submitted for review and approval of the Town Attorney. The easement shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a Temporary Certificate of Occupancy. If necessary to provide an adequate containment system, the Developer will coordinate the upgrade of portions of the creek extending onto Lot B, Vail Village Filing 2 (with owners' permission). These improvements will be in place prior to the issuance of a Temporary Certificate of Occupancy for the project. (e) Road Impacts: Pursuant to Section 12-7A-14, Town of Vail Code, the Developer agrees to pay road impact fees in an amount that is directly proportionate to the anticipated new road impacts generated by this development ($5,000.00 X 85 new projected peak hour trip ends, for a total of $425,000.00). This dollar amount will be put in escrow once a building permit is issued. Any actual improvements constructed to the frontage road will be credited against the total. The escrowed dollars will be held for a period of 10 years from time of permit issuance. If and when any sort of funding mechanism is put in place (such as a special district which this development participates in) any dollars generated from the development will be offset by the amount owed. If there is an excess, it will be refunded. Any shortfall will be made up by the escrowed dollars. (f) Access Easements: The Developer agrees to provide ingress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 from Vail Road across the subject property. The Developer agrees to provide egress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 across the subject property to South Frontage Road. These easements will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. The easements will be in effect as long as the surface parking exists on the Nine Vail Road property (Lot B, Vail Village Filing #2). (g) Access Easement: The Developer agrees to provide egress (via a legally binding easement agreement) for residential traffic (passenger cars) from Lot A, Vail Village Filing #2 across the Developer's property via the proposed guest access drive, as described on the Approved Development Plan dated June 11, 2001. This easement will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. D. MODIFICATION: Modifications within the scope of the instrument shall be made by consent of the Vail Town Manager or a designee, by the issuance of a written modification, signed and dated by all parties, prior to any changes being executed. E. TERMINATION: As long as the approval for Special Development District #36 remains valid, this MOU cannot be terminated, in whole or in part, without the mutual written consent of both parties. F. PRINCIPAL CONTACTS: The principal contacts for this instrument are: Bob McLaurin Waldir Prado Town Manager Daymer Corporation Town of Vail 100 E. Meadow Drive 75 South Frontage Road Vail, CO 81657 Vail, CO 81657 970-476-5622 970-479-2138 G. COMPLETION DATE: This instrument is executed as of the last date shown below and expires no later than July 10, 2004 at which time it is subject to review, renewal or expiration. H. THIRD PARTIES: This agreement does not create or grant any rights to third parties. This agreement can not be utilized as a basis for any cause of action by third parties to this agreement, neither jointly nor individually. 1. INDEMNIFICATION: The Developer agrees to indemnify and hold the Town harmless from and against any and all liability, claims, actions, losses and damages, including reasonable attorneys' fees, arising from any activities of the Developer on the Property, on Town property or within a Town right-of-way. THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT: rado, Robert McLaurin, ft Town Manager Town of Vail, Colorado mer Corporation Date Date STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me on this day of June, 2001, by Robert W. McLaurin, Vail Town Manager. Witness my hand and official seal. [SEAL] Notary Public My Commission Expires: STATE OF C~pti D,2,6~U ) COUNTY OF ~5q6/.G ss. ) The foregoing instrument was acknowledged before me on this day of June, 2001, by Waldir Prado, as President of the Daymer Corporation. Witness my hand and official seal. [SEAL] N tary Public My Commission __Expires: jZOD,s ORDINANCE NO. 14 SERIES OF 2001 AN ORDINANCE PROVIDING FOR THE ESTABLISHMENT OF SPECIAL DEVELOPMENT DISTRICT NO. 36, VAIL PLAZA HOTEL WEST, AND ADOPTING AN APPROVED DEVELOPMENT PLAN FOR SPECIAL DEVELOPMENT DISTRICT NO. 36 IN ACCORDANCE WITH CHAPTER 12-9A, VAIL TOWN CODE; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, Chapter 12-9A of the Town of Vail Zoning Regulations permits the adoption of Special Development Districts; and WHEREAS, Waldir Prado, d.b.a. the Daymer Corporation, has submitted an application for the establishment of Special Development District No. 36, Vail Plaza Hotel West; and WHEREAS, in accordance with the provisions outlined in the Zoning Regulations, the Planning & Environmental Commission held public hearings on the application; and WHEREAS, the Planning & Environmental Commission has reviewed the prescribed criteria for establishment of special development districts and has submitted its recommendation of approval to the Vail Town Council; and WHEREAS, the Vail Town Council finds that the proposed special development district, Vail Plaza Hotel West, complies with the nine design criteria outlined in Section 12-9A-8 of the Vail Town Code and that the applicant has demonstrated that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided; and WHEREAS, the approval of Special Development District No. 36, Vail Plaza Hotel West, and the development standards in regard thereto shall not establish precedence or entitlements elsewhere within the Town of Vail; and WHEREAS, all notices as required by the Town of Vail Municipal Code have been sent to the appropriate parties; and WHEREAS, the Vail Town Council considers it in the best interest of the public health, safety, and welfare to adopt the proposed Approved Development Plan for Special Development District No. 36, Vail Plaza Hotel West. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: 1 Section 1. Puroose of the Ordinance The purpose of Ordinance No. 14, Series of 2001, is to adopt an Approved Development Plan for Special Development District No. 36, Vail Plaza Hotel West, and to prescribe appropriate development standards for Special Development District No. 36, in accordance with the provisions of Chapter 12-9A, Vail Town Code. The "underlying" zone district for Special Development District No. 36 will remain "Public Accommodation." Section 2. Establishment Procedures Fulfilled. Plannina Commission Resort The procedural requirements described in Chapter 12-9A of the Vail Town Code have been fulfilled and the Vail Town Council has received the recommendation of approval from the Planning & Environmental Commission for the establishment of Special Development District No. 36, Vail Plaza Hotel West. Requests for the establishment of a special development district follow the procedures outlined in Chapter 12-9A of the Vail Municipal Code. Section 3. Special Development District No. 36 The Special Development District is hereby established to assure comprehensive development and use of the area in a manner that would be harmonious with the general character of the Town, provide adequate open space and recreation amenities, and promote the goals, objectives and policies of the Town of Vail Comprehensive Plan. Special Development District No. 36, Vail Plaza Hotel West, is regarded as being complementary to the Town of Vail by the Vail Town Council and the Planning & Environmental Commission, and has been established because there are significant aspects of the Special Development District that cannot be satisfied through the imposition of the standard Public Accommodation zone district requirements. Section 4. Develooment Standards - Special Develooment District No. 36. Vail Plaza Hotel West Develooment Plan-- The Approved Development Plan for Special Development District No. 36, Vail Plaza Hotel West, shall include the following plans and materials prepared by Zehren and Associates, Inc., dated June 11, 2001, and stamped approved by the Town of Vail, dated July 10, 2001: 2 A. Improvements Plan B. Existing Circulation C. Circulation Plan D. Site Plan - North E. Site Plan - South F. Frontage Road and West Meadow Drive Street Sections G. East and West Elevations H. North, Southwest and South Elevations 1. West and East Building Sections J. South and North Building Sections K. Building Height Plan 1 - Absolute Heights / Interpolated Contours L. Building Height Plan 2 - Height Above Grade / Interpolated Contours M. Roof Plan N. Level 6 (223.0') 0. Level 5 (213.0') P. Level 4 (2025) Q. Level 3 (1925) R. Level 2 (182.5') S. Level 1 (1725) T. Level 0 (1625) U. Level -1 (152.5') V. Level -2 (142.5') W. Level -3 (132.5') X. Mass/Bulk Study Permitted Uses-- The permitted uses in Special Development District No. 36 shall be as set forth in the development plans referenced in Section 4 of this ordinance. Conditional Uses-- The conditional uses for Special Development District No. 36, Vail Plaza Hotel West, shall be set forth in Section 12-7A-3 of the Town of Vail Zoning Regulations. All conditional uses shall be 3 reviewed per the procedures as outlined in Chapter 12-16 of the Town of Vail Zoning Regulations. Density-- Units per Acre - Dwelling Units, Accommodation Units, Fractional Fee Club Units and Employee Housing Units The number of units permitted in Special Development District No. 36, Vail Plaza Hotel West, shall not exceed the following: Dwelling Units -15 Accommodation Units -116 Fractional Fee Club Units - 40 Type II I Employee Housing Units -14 Density-- Floor Area The gross residential floor area (GRFA), common area and commercial square footage permitted for Special Development District No. 36, Vail Plaza Hotel West, shall be as set forth in the Approved Development Plan referenced in Section 4 of this ordinance. Specifically: GRFA - 151, 696 square feet Retail -1,128 square feet Restaurant/Lounge -1,708 square feet Conference Facilities - 20,624 square feet Health Club -10,016 square feet Spa/Treatment - 3,820 square feet Setbacks-- Required setbacks for Special Development District No. 36, Vail Plaza Hotel West, shall be as set forth in the Approved Development Plan referenced in Section 4 of this ordinance. Height-- The maximum building height for Special Development District No. 36, Vail Plaza Hotel West, shall be as set forth in the Approved Development Plan referenced in Section 4 of this ordinance (73.5 feet maximum). Site Coverage-- The maximum allowable site coverage for Special Development District No. 36, Vail Plaza Hotel West, shall be as set forth in the Approved Development Plan referenced in Section 4 of this ordinance (58, 522 square feet above grade, 77,219 square feet below grade). 4 Landscaping— The minimum landscape area requirement for Special Development District No. 36, Vail Plaza Hotel West, shall be as set forth in the Approved Development Plan referenced in Section 4 of this ordinance (30, 874 square feet). Parking and Loading-- The required number of off-street parking spaces and loading/delivery berths for Special Development District No. 36, Vail Plaza Hotel West, shall be provided as set forth in the Approved Development Plan referenced in Section 4 of this ordinance (225 spaces). In no instance shall Vail Road, West Meadow Drive or the South Frontage Road be used for loading/delivery or guest drop-off/pick-up without the prior written approval of the Town of Vail. The required parking spaces shall not be individually sold, transferred, leased, conveyed, rented or restricted to any person other than a tenant, occupant or user of the building for which the space, spaces or area are required to be provided by the Zoning Regulations or ordinances of the Town.. The foregoing language shall not prohibit the temporary use of the parking spaces for events or uses outside of the building, subject to the approval of the Town of Vail. Section 5. ADDroval Aareements for Soecial Development District No. 36. Vail Plaza Hotel West 1. That the Developer submits the following plans to the Department of Community Development for review and approval as a part of the building permit application for the hotel: a. An Erosion Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; c. A Stormwater Management Plan; d. A Site Dewatering Plan; e. A Traffic Control Plan; f. A Spraddle Creek routing and containment plan; and g. An environmental audit including soils and stream conditions (during excavation). 2. That the Developer provides deed-restricted housing that complies with the Town of Vail Employee Housing requirements (Chapter 12-13) for a minimum of 28 employees, and that said deed-restricted housing be made available for occupancy, and that the deed restrictions are recorded with the Eagle County Clerk & Recorder prior to requesting a Temporary Certificate of Occupancy for the Vail Plaza Hotel West. The required Type III deed-restricted employee housing units shall not be eligible for resale and the units will be owned and operated by the hotel and said ownership shall transfer with the deed to the hotel property. 3. That the Developer submits a final detailed landscape plan to the Community Development Department for Design Review Board review and approval prior to making an application for a building permit. This plan will involve the removal of the obsolete delivery bay asphalt for the Chateau Vail on the Nine Vail Road property (Lot B, Vail Village Filing #2) and the re-vegetation of that portion of the site. 5 4. That the Developer submits a complete set of plans to the Colorado Department of Transportation for review and approval of a revised access permit, prior to application for a building permit. 5. That the Developer records an easement for Spraddle Creek. The easement shall be prepared by the Developer and submitted for review and approval of the Town Attorney. The easement shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a Temporary Certificate of Occupancy for the project. 6. That the Developer submits a final exterior building materials list, a typical wall section, comprehensive sign program, rooftop mechanical equipment screening plan and complete color renderings for review and approval of the Design Review Board, prior to making an application for a building permit. 7. That the Developer posts a bond to provide financial security for the 150% of the total cost of the required off-site public improvements. The bond shall be in place with the Town prior to the issuance of a building permit. Pursuant to Section 12-7A- 14, Town of Vail Code, the applicant shall pay road impact fees in an amount that is directly proportionate to the anticipated new road impacts generated by this development ($5000 X 85 new projected peak hour trip ends, for a total of $425,000.00). This dollar amount will be put in escrow once a building permit is issued. Any actual improvements constructed to the frontage road will be credited against the total. The escrowed dollars will be held for a period of 10 years from time of permit issuance. If and when any sort of funding mechanism is put in place (such as a special district which this development participates in) any dollars generated from the development will be offset by the amount owed. If there is an excess, it will be refunded. Any shortfall will be made up by the escrowed dollars. 8. That the Developer either receives approval from the neighboring owner's associations to allow for construction activities on neighboring properties or submits a construction staging and limits of disturbance plan that indicates all of these activities will occur on the applicant's property, prior to application for building permit. 9. That the Developer agrees to provide ingress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 from Vail Road across the subject property and egress (via a legally binding easement agreement) for Lot B, Vail Village Filing #2 across the subject property to South Frontage Road. These easements will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. The easements will be in effect as long as the surface parking exists on the Nine Vail Road property (Lot B, Vail Village Filing #2). 10. That the Developer agrees to provide egress (via a legally binding easement agreement) from Lot A, Vail Village Filing #2 across the Developer's property via the proposed guest access drive, as described on the Approved Development Plan dated June 11, 2001. This easement will be submitted to the Town for review and approval prior to the issuance of a Temporary Certificate of Occupancy for the project. 11. That the Developer submits civil drawings to determine compliance with all Town of Vail engineering requirements prior to final Design Review Board approval. This includes all off-site improvements, including the improvements to the South Frontage Road, Vail Road and West Meadow Drive, as well as the coordination of the relocation of the existing electric transformers on the property with local utility providers. The revised location of the transformers will be part of the final landscape plan to be submitted for review and approval by the Design Review Board. 6 12. That the Town and the Developer enter into a Developer Improvement Agreement to outline obligations and responsibilities for off-site improvements, hours of construction activity, traffic management and other related issues in accordance with the Approved Development Plan and the Memorandum of Understanding dated June 14, 2001, prior to the issuance of a building permit for the Project. Section 6. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 7. The repeal or the repeal and re-enactment of any provisions of the Vail Municipal Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision 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 8. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. The repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, heretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 19th day of June, 2001, and a public hearing for second reading of this Ordinance set for the 10th day of July, 2001, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. 7 Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 10" day of July, 2001 Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson, Town Clerk 8 MEMORANDUM TO: Planning and Environmental Commission FROM: Department of Community Development DATE: May 14, 2001 SUBJECT: A request for a final review and recommendation of a proposed special development district (SDD) to allow for the construction of a new conference hotel; and a final review of conditional use permits to allow for the construction of a fractional fee club and Type III employee housing units at 13 Vail Road / Lots A, B, C, Block 2, Vail Village Filing 2. Applicant: Doramar Hotels, represented by the Daymer Corporation Planner: Brent Wilson 1. INTRODUCTION AND DESCRIPTION OF THE REQUEST Special Development District Reauest This proposal is a revision to the applicant's original SDD proposals following the Planning and Environmental Commission's (PEC) direction regarding a number of issues involving building height, massing, loading/delivery, off-street parking, employee housing provisions and traffic circulation. The applicant is proposing the Vail Plaza Hotel West Special Development District (SDD) where the Chateau at Vail is currently located. The current (and proposed underlying) zoning for the property is "Public Accommodation." The Vail Plaza Hotel West is a mixed-use development proposal. Uses within the hotel include residential, commercial and recreation. The proposed plan includes 116 hotel rooms (averaging 395 s.f. each), 15 condominiums, 40 fractional fee units, 14 employee housing units, a restaurant and bar, limited retail space, 21,000 square feet of conference and meeting space, and a spa/health club. The existing "Chateau at Vail" hotel contains 120 hotel rooms at 280 square feet each. The applicant and staff have identified what are believed to be the public benefits that would be realized by the Town as a result of the Vail Plaza Hotel West redevelopment. The public benefits associated with the hotel proposal are: • An increase in the annual occupancy rate through the redevelopment of an older existing hotel. ¦ The creation of approximately 21,000 square feet of new conference and meeting room facilities. This includes a 10,000 square foot ballroom and 11,000 square feet of breakout/preconvene space. TOWN OF PAIL' 1 ¦ The implementation of a portion of the recommended Town of Vail Streetscape Master Plan improvements along South Frontage Road and West Meadow Drive. ¦ The re-investment and redevelopment of resort property in the Town of Vail. • The implementation of many of the development goals, objectives and policies adopted by the Town for Public Accommodation properties. ¦ An increase to the Town's supply of short-term, overnight accommodations (hotel rooms and fractional fee units) to serve our guests and visitors. ¦ The construction of an "anchor" hotel providing a high-level of guest services and amenities. ¦ A potentially sizeable annual contribution to the Town's sales tax revenue. ¦ The creation of new deed-restricted employee housing to offset the housing impacts associated with the hotel. ¦ The removal of existing loading/delivery and guest traffic from West Meadow Drive. A square footaae breakdown of the orooosal is orovided below: ¦ 60,649 sq. ft. - fractional fee club units ¦ 45,381 sq. ft. -condominiums • 45,666 sq. ft. - accommodation units ¦ 2,835 sq. ft. - restaurant/retail • 20,624 sq. ft. - conference/meeting rooms ¦ 13,836 sq. ft. - spa/health club In reviewing the proposal, staff identified a number of pros and cons that we believe are associated with the hotel proposal. The list includes, but is not limited to, the following: PROS ¦ The presence of economic redevelopment in Vail. ¦ An increased level of quality to the Town's of hotel bed base. ¦ The implementation of certain development goals, objectives, and policies. • The creation of new deed-restricted employee housing to offset the housing impacts associated with the hotel. ¦ The elimination of an unsightly surface parking lot. ¦ The construction of new conference and meeting room facilities within the Town. ¦ The construction of public improvements funded with private dollars. ¦ The potential increase in sales tax revenue (economic development). 2 ¦ The removal of existing loading/delivery and guest traffic from West Meadow Drive. CONS • Deviations from the underlying zoning development standards are required. • There are increased impacts of shading on public areas. • Additional views of Vail Mountain from public areas will be impacted. Additional loading/delivery truck traffic on Town streets. • A significant period of building construction (noise, construction traffic, etc) and the anticipated impacts to public streets and adjacent properties. Conditional Use Permit Reauests In association with the application for a special development district, the applicant is requesting conditional use permits to allow for the establishment of a 40 fractional fee unit club and the construction of 14 Type III employee housing units. Because the development plan has changed significantly for the previously approved (2/12/01) fractional fee units, an additional PEC review is necessary. Please refer to Sections VIII & IX of this memorandum for a detailed review of these requests. II. STAFF RECOMMENDATIONS Special Development District The Community Development Department recommends that the Planning and Environmental Commission recommend approval (to the Vail Town Council) of the applicant's request for a proposed special development district to allow for the construction of a new conference facility/hotel, based upon the following finding: That the proposed special development district, the Vail Plaza Hotel West, complies with the nine design criteria outlined in Section 12-9A-8 of the Vail Town Code. The applicant has demonstrated that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided. Should the Planning & Environmental Commission choose to recommend approval of the requested special development district to the Vail Town Council, staff would recommend that the Commission make the following finding: That the proposed special development district, Vail Plaza Hotel West, complies with the nine design criteria outlined in Section 12-9A-8 of the Town of Vail Municipal Code. The applicant has demonstrated-to the satisfaction of the Commission that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided. Further, the Commission finds that the requested conditional use permits to allow for the operation of a fractional fee club and the construction of Type employee housing units comply with the applicable criteria and are consistent with the development goals and objectives of the Town. 3 Should the Planning & Environmental Commission choose to recommend approval of the applicant's request, staff recommends that the approval carry with it the following conditions: 1. That the developer submits the following plans to the Department of Community Development for review and approval as a part of the building permit application for the hotel: a. An Erosion Control and Sedimentation Plan; b. A Construction Staging and Phasing Plan; C. A Stormwater Management Plan; d. A Site Dewatering Plan; and e. A Traffic Control Plan. 2. That the developer provides deed-restricted housing that complies with the Town of Vail Employee Housing requirements (Chapter 12-13) for a minimum of 28 employees, and that said deed-restricted housing be made available for occupancy, and that the deed restrictions are recorded with the Eagle County Clerk & Recorder, prior to requesting a Temporary Certificate of Occupancy for the Vail Plaza Hotel West. 3. That the developer submits a final detailed landscape plan to the Community Development Department for Design Review Board review and approval prior to making an application for a building permit. This plan will involve the removal of the obsolete delivery bay asphalt for the Chateau Vail on the Nine Vail Road property. 4. That the developer submits a complete set of civil engineer drawings for all off- site improvements, including the improvements to the South Frontage Road and West Meadow Drive for review and Town approval prior to application for a building permit. 5. That the developer submits a complete set of plans to the Colorado Department of Transportation for review and approval of a revised access permit, prior to application for a building permit. 6. That the developer meets with the Town staff to prepare a memorandum of understanding outlining the responsibilities and requirements of the required off- site improvements, prior to first reading of an ordinance approving the special development district. This includes streetscaping improvements along South Frontage Road and West Meadow Drive in accordance with the Town of Vail Streetscape Master Plan, as amended. 7. That the developer records an easement for Spraddle Creek. The easement shall be prepared by the developer and submitted for review and approval of the Town Attorney. The easement shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a Temporary Certificate of Occupancy. 8. That the developer submits a final exterior building materials list, a typical wall section and complete color renderings for review and approval of the Design Review Board, prior to making an application for a building permit. 4 9. That the developer submits a comprehensive sign program proposal for the Vail Plaza Hotel West for review and approval of the Design Review Board, prior to the issuance of a Temporary Certificate of Occupancy. 10. That the developer submits a rooftop mechanical equipment plan for review and approval of the Design Review Board prior to the issuance of a building permit. All rooftop mechanical equipment shall be incorporated into the overall design of the hotel and enclosed and screened from public view. 11. That the developer posts a bond to provide financial security for the 150% of the total cost of the required off-site public improvements. The bond shall be in place with the Town prior to the issuance of a building permit. 12. That the developer either receives approval from the neighboring owner's associations to allow for construction activities on neighboring properties or submits a construction staging and limits of disturbance plan that indicates all of these activities will occur on the applicant's property. 13. That the developer provides access (via a permanent, legally binding easement agreement) for the Nine Vail Road Association and guests to enter the subject property from Vail Road and exit across the subject property from the location of Nine Vail Road's surface parking area to South Frontage Road. This is necessary to facilitate the applicant's proposed traffic circulation plan. 14. That the applicant submits civil drawings to determine compliance with all Town of Vail engineering requirements prior to final Design Review Board approval. 15. Pursuant to Section 12-7A-14, Town of Vail Code, the applicant shall pay road impact fees in an amount that is directly proportionate to the anticipated new road impacts generated by this development ($5000 per peak hour trip end). A specific amount for road impact fees will be declared (and adopted via a memorandum of understanding), based upon the anticipated new road impacts outlined in the applicant's traffic study. This dollar amount will be put in escrow once a building permit is issued. Any actual improvements constructed to the frontage road will be credited against the total. The escrowed dollars will be held for a period of 10 years from time of permit issuance. If and when any sort of funding mechanism is put in place (such as a special district which this development participates in) any dollars generated from the development will be offset by the amount owed. If there is an excess it will be refunded. Any shortfall will be made up by the escrowed dollars. 16. That the applicant complies with all fire department staging and access requirements pursuant to Title 14 (Development Standards), Vail Town Code. This will be demonstrated on a set of revised plans for town review and approval prior to building permit submittal. 17. That the required Type III deed-restricted employee housing units shall not be eligible for resale and that the units be owned and operated by the hotel and that said ownership transfer with the deed to the hotel property. 18. That the developer coordinates the relocation of the existing electric transformers on the property with local utility providers. The revised location of the transformers will be part of the final landscape plan to be submitted for review 5 and approval by the Design. Review Board. 19. Prior to first reading of an ordinance adopting a special development district for the property, the developer shall resolve the guest exit drive alignment to the satisfaction of the town engineer. Conditional Use Permit- Fractional Fee Club The Community Development Department recommends approval of the applicant's request for a conditional use permit to allow for the construction of 40 fractional fee units within the Vail Plaza Hotel West based upon the following findings: 1. That the proposed location of the use is in accordance with the purposes of the conditional use permit section of the zoning code and the purposes of the district in which the site is located. 2. That the proposed location of the use and the conditions under which it would be operated or maintained would not be detrimental to the public health, safety, or welfare or materially injurious to properties or improvements in the vicinity. 3. That the proposed use would comply with each of the applicable provisions of the conditional use permit section of the zoning code. If the Planning and Environmental Commission chooses to approve this request, staff recommends the following conditions: 1. The approval of this conditional use permit is not valid unless an ordinance approving the associated special development district request is approved on second reading. Conditional Use Permit- Emolovee Housina Units The Community Development Department recommends approval of the applicant's request for a conditional use permit to allow for the construction of 14 Type III employee housing units within the Vail Plaza Hotel West based upon the following findings: 1. That the proposed location of the use is in accordance with the purposes of the conditional use permit section of the zoning code and the purposes of the district in which the site is located. The proposal complies with the minimum requirements outlined for employee housing units outlined in Section 12-13-3 of the Vail Town Code. 2. That the proposed location of the use and the conditions under which it would be operated or maintained would not be detrimental to the public health, safety, or welfare or materially injurious to properties or improvements in the vicinity. 3. That the proposed use would comply with each of the applicable provisions of the conditional use permit section of the zoning code. 6 If the Planning and Environmental Commission chooses to approve this request, the Department of Community Development recommends the following conditions be placed on the approval. 1. That the applicant records applicable deed restrictions for all employee housing units with the Eagle County Clerk & Recorder prior to the issuance of a Temporary Certificate of Occupancy for the Vail Plaza Hotel West. III. ROLES OF REVIEWING BOARDS Special Development District Order of Review. Generally, applications will be reviewed first by the PEC for impacts of use/development, then by the DRB for compliance of proposed buildings and site planning, and final approval by the Town Council. Plannina and Environmental Commission: Action: The PEC is advisorv to the Town Council. The PEC shall review the proposal for and make a recommendation to the Town Council on the following: ¦ Permitted, accessory, and conditional uses ¦ Evaluation of design criteria as follows (as applicable): A. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. B. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. C. Parking And Loading: Compliance with parking and loading requirements as outlined in Chapter 10 of this Title. D. Comprehensive Plan: Conformity with applicable elements of the Vail Comprehensive Plan, Town policies and urban design plans. E. Natural and/or Geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. F. Design Features: Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. G. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. H. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. 7 I. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. Recommendation on development standards including, lot area, site dimensions, setbacks, height, density control, site coverages, landscaping and parking. Desian Review Board: Action: The DRB has NO review authoritv on a SDD orooosal. but must review anv accomoanvina DRB aoolication The DRB review of an SDD prior to Town Council approval is ourely advisorv in nature. The DRB is responsible for evaluating the DRB proposal: - Architectural compatibility with other structures, the land and surroundings - Fitting buildings into landscape - Configuration of building and grading of a site which respects the topography - Removal/Preservation of trees and native vegetation - Adequate provision for snow storage on-site - Acceptability of building materials and colors - Acceptability of roof elements, eaves, overhangs, and other building forms - Provision of landscape and drainage - Provision of fencing, walls, and accessory structures - Circulation and access to a site including parking, and site distances - Location and design of satellite dishes - Provision of outdoor lighting - Compliance with the architectural design guidelines of applicable master plans. Staff: The staff is responsible for ensuring that all submittal requirements are provided and plans conform to the technical requirements of the Zoning Regulations. The staff also advises the applicant as to compliance with the design guidelines. Staff provides a staff memo containing background on the property and provides a staff evaluation of the project with respect to the required criteria and findings, and a recommendation on approval, approval with conditions, or denial. Staff also facilitates the review process. Town Council: Action: The Town Council is responsible for final aooroval/denial of an SDD. The Town Council shall review the proposal for the following: Permitted, accessory, and conditional uses Evaluation of design criteria as follows (as applicable): A. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. B. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. C. Parking And Loading: Compliance with parking and loading requirements as outlined 8 in Chapter 10 of this Title. D. Comprehensive Plan: Conformity with applicable elements of the Vail Comprehensive Plan, Town policies and urban design plans. E. Natural and/or Geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. F. Design Features: Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. G. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. H. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. 1. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. Approval of development standards including, lot area, site dimensions, setbacks, height, density control, site coverages, landscaping and parking. CONDITIONAL USE PERMITS (CUP): Order of Review: Generally, applications will be reviewed first by the PEC for acceptability of use and then by the DRB for compliance of proposed buildings and site planning. Plannina and Environmental Commission: Action: The PEC is responsible for final aooroval/denial of a CUP. The PEC is responsible for evaluatina a CUP orooosal for: 1. Relationship and impact of the use on development objectives of the Town. 2. Effect of the use on light and air, distribution of population, transportation facilities, utilities, schools, parks and recreation facilities, and other public facilities and public facilities needs. 3. Effect upon traffic, with particular reference to congestion, automotive and pedestrian safety and convenience, traffic flow and control, access, maneuverability, and removal of snow from the streets and parking areas. 4. Effect upon the character of the area in which the proposed use is to be located, including the scale and bulk of the proposed use in relation to surrounding uses. 5. Such other factors and criteria as the Commission deems applicable to the proposed use. 6. The environmental impact report concerning the proposed use, if an environmental 9 impact report is required by Chapter 12 of this Title. Conformance with development standards of zone district - Lot area - Setbacks - Building Height - Density - GRFA - Site coverage - Landscape area - Parking and loading - Mitigation of development impacts Desian Review Board: Action: The DRB has NO review authoritv on a CUP. but must review anv accomoanvinq DRB application. The DRB is responsible for evaluating the DRB proposal for: - Architectural compatibility with other structures, the land and surroundings - Fitting buildings into landscape - Configuration of building and grading of a site which respects-the topography - Removal/Preservation of trees and native vegetation - Adequate provision for snow storage on-site - Acceptability of building materials and colors - Acceptability of roof elements, eaves, overhangs, and other building forms - Provision of landscape and drainage - Provision of fencing, walls, and accessory structures - Circulation and access to a site including parking, and site distances - Location and design of satellite dishes - Provision of outdoor lighting - The design of parks Staff: The staff is responsible for ensuring that all submittal requirements are provided and plans conform to the technical requirements of the Zoning Regulations. The staff also advises the applicant as to compliance with the design guidelines. Staff provides a staff memo containing background on the property and provides a staff evaluation of the project with respect to the required criteria and findings, and a recommendation on approval, approval with conditions, or denial. Staff also facilitates the review process. Town Council: Actions of DRB or PEC maybe appealed to the Town Council or by the Town Council. Town Council evaluates whether or not the PEC or DRB erred with approvals or denials and can uphold, uphold with modifications, or overturn the board's decision. 10 IV. DEVIATIONS FROM THE UNDERLYING ZONING The Vail Plaza Hotel West Special Development District proposal contains the following deviations from the underlying Public Accommodation (PA) zoning: 1. Heiaht -the proposed hotel is 25 feet (52%) taller than the 48' allowed under PA zoning. The proposed building is 73 feet tall at its highest ridge (adjacent to South Frontage Road). The building stands 47.5' tall at its primary ridge along West Meadow Drive. 2. Site Coveraae (below grade) - although the proposal complies with site coverage requirements above grade, it deviates by 11.7% below grade. V. "PUBLIC ACCOMMODATION ZONE DISTRICT" According to the Official Town of Vail Zoning Map, the applicant's property is zoned Public Accommodation. Pursuant to the Town of Vail Municipal Code, the Public Accommodation Zone district is intended, to provide sites for lodges and residential accommodations for visitors, together with such public and semi-public facilities and limited professional offices, medical facilities, private recreation, and related visitor oriented uses as may appropriately be located in the same district. The Public Accommodation District is intended to ensure adequate light, air, open space, and other amenities commensurate with lodge uses, and to maintain the desirable resort qualities of the District by establishing appropriate site development standards. Additional nonresidential uses are permitted as conditional uses which enhance the nature of Vail as a winter and summer recreation and vacation community, and where permitted are intended to function compatibly with the high density lodging character of the District. The Public Accommodation Zone District is intended to provide sites for lodging units with densities not to exceed 25 dwelling units per acre. The Public Accommodation Zone District, prior to January 21, 1997, did not permit interval ownership. On January 21, 1997, the Town Council adopted regulations allowing interval ownership subject to the issuance of a conditional use permit. Previously, interval ownership was only allowed as a conditional use in the High Density Multi-family Zone District. On October 5, 1999, the Vail Town Council approved Ordinance No. 23, Series of 1999, amending the development standards prescribed in the Public Accommodation Zone District. The amendments included an increase in allowable GRFA up to 150%, an increase in site coverage, the elimination of AU's and FFU's in the calculation of density, revised setback requirements, and other various aspects in the development of properties zoned Public Accommodation. The allowable building height, landscape area and limitation on commercial square footage remained unchanged. 11 VI. ZONING ANALYSIS The development standards for a Special Development District shall be proposed by the applicant. Development standards including lot area, site dimensions, setbacks, height, density control, site coverage, landscaping and parking and loading shall be determined by the Town Council as part of the approved development plan, with consideration of the recommendations of the Planning and Environmental Commission. Before the Town Council approves development standards that deviate from the underlying zone district, it shall be determined that such deviations provide benefits to the Town that outweigh the effects of such deviations. This determination is to be made based upon the evaluation of the proposed Special Development District's compliance with the Review Criteria outlined in the following section of this memorandum. The Community Development Department staff has prepared a zoning analysis for the proposed Vail Plaza Hotel West. The Vail Plaza Hotel West Zoning Analysis compares the development standards outlined by the underlying zoning of Public Accommodation (revised 10/99) to the Vail Plaza Hotel West proposal from February of 2001 and the current proposal. A copy of the Vail Plaza Hotel West Zonina Analvsis has been attached for reference (Exhibit B). VII. THE SPECIAL DEVELOPMENT DISTRICT ESTABLISHMENT AND REVIEW PROCESS Chapter 12-9 of the Town Code provides for the amendment of existing Special Development Districts in the Town of Vail. According to Section 12-9A-1, the purpose of a Special Development District is, "To encourage flexibility and creativity in the development of land, in order to promote its most appropriate use; to improve the design character and quality of the new development within the Town; to facilitate the adequate and economical provision of streets and utilities; to preserve the natural and scenic features of open space areas; and to further the overall goals of the community as stated in the Vail Comprehensive Plan. An approved development plan for a Special Development District, in conjunction with the properties underlying zone district, shall establish the requirements for guiding development and uses of property included in the Special Development District." An approved development plan is the principal document in guiding the development, uses, and activities of the Special Development District. The development plan shall contain all relevant material and information necessary to establish the parameters with which the Special Development District shall adhere. The development plan may consist of, but not be limited to: the approved site plan; floor plans, building sections, and elevations: vicinity plan; parking plan; preliminary open space/landscape plan; densities; and permitted, conditional, and accessory uses. The determination of permitted, conditional and accessory uses shall be made by the Planning and Environmental Commission and Town Council as part of the formal review of the proposed development plan. Unless further restricted through the review of the proposed Special Development District, permitted, conditional and accessory uses shall 12 be limited to those permitted, conditional and accessory uses in the property's underlying zone district. The Town Code provides nine design criteria which shall be used as the principal criteria in evaluating the merits of the proposed Special Development District. It shall be the burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved. The following is a staff analysis of the project's compliance with the nine SDD review criteria: CRITERIA FOR REVIEW: A. Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The following is a synopsis of comments from the town's appointed and elected boards since October 24, 2000 on the issues shown in bold, underlined type. A staff response follows each set of comments: Bulk and Mass "The overall scale of the current proposal is inconsistent with the established character of the area. A "breaking up" of the primary roof ridges would help scale down the mass. The project should read as an assemblage of buildings rather than one large structure" (Joint Board Meeting, 10/24/00). "The building should be turned outward towards the public and opened up to allow greater public access. The proposed atrium area should be opened more to the south to take advantage of the sun exposure and pedestrian traffic" (PEC, 11/27/00). "The project should read as a fragmented assemblage of structures. The linear, unbroken wall planes along the South Frontage Road and West Meadow Drive are too massive and should be broken up to help reduce the apparent mass of the project. There should be points in the project where light and air penetrate through to allow for more transparency. The current proposal is not sympathetic to the design and scale of adjacent buildings" (DRB, 12/8/00). Staff Resaonse -The applicant has succeeded in breaking up the roof massing along West Meadow Drive while the primary ridge along South Frontage Road continues to present a linear, unbroken mass along the entire frontage. The revised "opening" of the pedestrian entry and the removal of the atrium roof structure have alleviated some of the previous "internal compound" design characteristics prevalent in earlier versions of this plan and have created a more inviting entry feature along the southern streetscape. Additionally, staff believes the revised plan will provide more southern sun exposure within the internal garden area. Although the north fagade presents a bit of a "mirror image" along the frontage road, staff believes this may be alleviated through the use of alternating colors and materials. This issue will be addressed as part of the design review process. 13 Heiaht "The height along West Meadow Drive should be stepped down again to a level more consistent with the established character of the area" (PEC, 11/27/00). Staff Response The primary ridge height along West Meadow Drive no longer exceeds the 48 feet requirement under the underlying zoning and staff believes the height is presented within a roof plan that helps to minimize perception of bulk and mass. For example, eave heights along West Meadow Drive range between 16-41 feet while the primary southern ridge (at 47.5 feet) is setback from the street edge about 100 feet. Therefore, the height is stepped back and the bulk is perceived to be less from the pedestrian perspective. The building is proposed with a 10.0' floor-to-floor height for each story. Lavout/Footprint "The inward focus of the project should be turned outward. The current proposal is reminiscent of the Vail Gateway project. It needs to be more inviting to the public from the outside. The large internal atrium could be reduced in size; this would allow more flexibility in breaking up the layout of the proposal" (DRB, 12/8/00). Staff Response - The Vail Land Use Plan identifies the subject property as part of a "transition zone" that forms a buffer between the foreground residences along the south side of the West Meadow Drive and the larger, higher-density structures along the frontage road. The long, unbroken linear masses proposed along the frontage road add to the massive appearance of the building. However, staff believes the revised atrium and pedestrian entry along West Meadow Drive are a successful effort towards opening the project towards the outside and the public. On April 181h, the Town of Vail Design Review Board made a finding that the project is in general compliance with the design criteria established for special development districts. The applicant has submitted a Vail Plaza Hotel West Sun/Shade Analysis (Exhibit E) and Vail Plaza Hotel West View Analysis (Exhibit F) to demonstrate impacts to the streetscape and public ways. The sun/shade analysis indicates substantial portions of South Frontage Road (including the sidewalk on the south side) will be impacted by shade during the winter months. However, the applicant is proposing to snowmelt the sidewalk along the Chateau property line in an effort to mitigate this issue. One of the urban design goals the town has adopted for redevelopment in Lionshead is a predominantly north-south orientation for buildings. Although the subject property does not fall directly into the context area for the redevelopment master plan for Lionshead, the design concepts that apply to adjacent Lionshead properties are a critical element in the evaluation of compatibility with neighborhood character. Additionally, the design concepts promoted here are general "good design" policies, and not specific sub-area concepts from any specific plan. One goal adopted by the DRB, PEC and Town Council is "it should be a priority in future development and redevelopment to orient vertical building masses along a north-south axis whenever possible." This will help to accomplish the following objectives: a. Sun Access - During the winter months, the sun is low in the southern sky, providing the greatest solar exposure to the south faces of buildings and to streets and spaces open to the south. A north-south orientation of building masses will increase the amount of sun reaching the Lionshead 14 pedestrian core and the buildings to the north. b. Views from New Buildings - In double loaded buildings oriented on an east-west axis, units on the south side of the building get great views of the mountain, but units on the north side do not. Orienting the building mass on a north-south line creates angled southern views for both sides of the building, and units on both sides will get direct sun sometime during the day. C. Views from Existing Buildings - By orienting new buildings on a north- south axis, the potential visual impact on existing buildings is reduced. d. Creation of "Streets" or Areas of Interest for Pedestrians. Although staff believes a diagonal "sawtooth" treatment similar to Eldon Beck's plan for the Vail Village Inn properties fronting East Meadow Drive would be more desirable than the linear east-west horizontal mass that is proposed by the applicant, the opening of the southern wing to allow greater sun exposure and the more inviting pedestrian entry along West Meadow Drive are greatly improved over previous submittals. Setbacks - In the PA District, the minimum setback shall be 20 feet on all sides. Although the project's footprint maintains at least a 20-foot setback from all property lines, the covered entries along the South Frontage Road and the Vail Road spur encroach 20 feet and 4 feet respectively. At the discretion of the PEC and DRB, variations to the setback standards may be approved, subject to the applicant demonstrating compliance with the following criteria: A. Proposed building setbacks provide necessary separation between buildings and riparian areas, geologically sensitive areas and other environmentally sensitive areas. There are no identified geologically or environmentally sensitive areas on this property. Pursuant to the provisions of the Town of Vail Zoning Regulations and the Uniform Building Code, the applicant is complying with minimum setbacks between buildings. There are two "covered entry" encroachments proposed in the plan. The northern "loading dock screen" encroachment abuts the property line along the South Frontage Road and does not abut any buildings. The eastern "guest entry" encroachment comes within 16 feet of the property line adjacent to the spur access drive between the Alpine Standard and Nine Vail Road buildings. B. Proposed building setbacks comply with applicable elements of the Vail Village Urban Design Guide Plan and Design Considerations. These elements of Vail's Comprehensive Plan are not applicable to the subject property. C. Proposed building setbacks will provide adequate availability of light, air and open space. Staff does not believe the two (2) proposed covered entry areas would impede the availability of adequate light, air and open space. 15 D. Proposed building setbacks will provide a compatible relationship with buildings and uses on adjacent properties. One of the challenges with the existing conditions of this property and adjacent lots is the configuration of adjacent buildings within required setbacks. All of the buildings directly abutting this property encroach into required setbacks. The Alphorn building, for example, is built almost directly on its eastern property line. As mentioned previously, the proposed encroachment along the South Frontage Road does not abut any buildings. The guest entry encroachment, as proposed, is separated a distance of 48 feet from the Alpine Standard station, 104 feet from the Nine Vail Road building, and 185 feet from Vail Road. E. Proposed building setbacks will result in creative design solutions or other public benefits that could not otherwise be achieved by conformance with prescribed setbacks standards. The use of the northern covered entry along South Frontage Road will help screen the below-grade delivery activities from public view. The eastern covered guest entry helps create a sense of arrival to the hotel and provides shelter from the elements. Although staff believes the two covered roof features could be constructed within setbacks if the plan were altered, the applicant has indicated the northern encroachment along South Frontage Road is necessary to maintain an appropriate setback area along West Meadow Drive. Therefore, the applicant is requesting Town Council, PEC and DRB review of the proposed entry encroachments. B. Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. The uses, activities and densities for the Vail Plaza Hotel West development site are prescribed by the underlying zoning. According to the Official Town of Vail Zoning Map, the underlying zoning for the proposed special development district is Public Accommodation. The Public Accommodation Zone District encourages the development of lodges (accommodation units) and accessory eating and drinking establishments at a density of twenty-five dwelling units per acre. The surrounding uses and zoning designation include Public Accommodation to the south, east and west (Sonnenalp, Nine Vail Road & Special Development District No. 6 - Vail Village Inn), High-Density Multiple Family to the west and northwest (Alphorn and Scorpio), Heavy Service to the north (Alpine Standard) and Commercial Core I/SDD #21 (Gateway) to the northeast. The same development standards that apply to the Vail Plaza Hotel West development site apply to the Sonnenalp, Nine Vail Road and Vail Village Inn properties. The Commercial Core I underlying zoning of the Gateway Special Development District is intended to provide sites for a mixture of commercial and residential development. The Heavy Service district is intended to provide sites for automotive-oriented land uses. The Vail Plaza Hotel West is proposed as a mixed-use development. The mixture of uses includes commercial, lodging, recreational and residential. Staff believes the proposed mixture of uses and its proximity to both Vail Village and Lionshead is consistent with the intended purpose of the underlying zoning of Public Accommodation. Further, staff believes that the proposed uses within the Vail Plaza Hotel West will compliment those existing uses and activities on surrounding and adjacent properties. The proposed density of the hotel and the presence of the conference facilities will 16 improve and enhance the viability and success of the existing restaurant and retail businesses in the immediate area. Emplovee Housina Reauirements As indicated in a number of the goals and objectives of the Town's Master Plans, providing affordable housing for employees is a critical issue which should be addressed through the planning process for Special Development District proposals. In reviewing the proposal for employee housing needs, staff relied on the Town of Vail Employee Housing Report. This report has been used by the staff in the past to evaluate employee housing needs. The guidelines contained within the report were used most recently in the review of the Austria Haus, Marriott and Special Development District No. 6 - Vail Village Inn development proposals. The Employee Housing Report was prepared for the Town by the consulting firm Rosall, Remmen and Cares. The report provides the recommended ranges of employee housing units needed based on the type of use and the amount of floor area dedicated to each use. Utilizing the guidelines prescribed in the Employee Housing Report, staff analyzed the incremental increase of employees (square footage per use), that results from the redevelopment. The figures identified in the report are based on surveys of commercial-use employment needs of the Town of Vail and other mountain resort communities. As of the drafting of the report, Telluride, Aspen and Whistler, B.C. had "employment generation" ordinances requiring developers to provide affordable housing for a percentage of the new employees resulting from commercial development. "New" employees are defined as the incremental increase in employment needs resulting from commercial redevelopment. Each of the communities assesses a different percentage of affordable housing a developer must provide for the new employees. For example, Telluride requires developers to provide housing for 40% (0.40) of the new employees, Aspen requires that 60% (0.60) of the new employees are provided housing and Whistler requires that 100% 0.00) of the new employees be provided housing by the developer. In comparison, Vail has conservatively determined that developers shall provide housing 15% (0.15) or 30% (0.30) of the new employees resulting from commercial development. When a project is proposed to exceed the density allowed by the underlying zone district, the 30% (0.30) figure is used in the calculation. If a project is proposed at, or below, the density allowed by the underlying zone district, the 15% (0.15) figure is used. The Vail Plaza Hotel West special development district does not exceed the density permitted by the underlying zone district. However, the Planning and Environmental Commission and Vail Town Council have indicated the 30% figure should be used given the substantial scope and impact of this project. The applicant is proposing to provide employee housing for a percentage of the "new" employees resulting from the hotel construction. The new hotel is expected to generate 93.5 "new" employees. The "new" employees are in addition to the 79 "full time equivalent" employees already working at the Chateau at Vail. The applicant is proposing to provide deed-restricted employee housing for 30% (28 beds) of the "new" employees. In order to maximize the benefit of the housing to the Town of Vail, the applicant has suggested that the housing will be available only to Vail Plaza Hotel West employees. 17 EMPLOYEE HOUSING GENERATION ANALYSIS For a point of reference, the "top," "middle" and "bottom" ranges of calculations for the Vail Plaza Hotel West proposal are provided below. ¦ Bottom of Range Calculations = 7.4 employee beds ¦ Middle of Range Calculations = 27.5 employee beds ¦ Top of Range Calculations = 47.6 employee beds ¦ Staff Recommended Range = 28.0 employee beds ¦ Applicant's Proposal = 28.0 employee beds Staff Recommended Ranae Calculations: Staff believes that the Vail Plaza Hotel West redevelopment will create a need for the housing of 97 additional "new" employees. Of the 97 additional employees, at least 28 employees (30%) will need to be provided deed-restricted housing by the developers of the Vail Plaza Hotel West. Please refer to Section IX of the staff memorandum for details regarding square footages and configuration of the units. The staff recommended range is based on: 1. the type of retail and commercial use proposed in the commercial space within the Vail Plaza Hotel West; 2. the size of the Vail Plaza Hotel West lodging component; 3. the level of services and amenities proposed by the developers for the guests of the Vail Plaza Hotel West; and 4. the result of research completed by Town of Vail staff of similar hotel operations in the Vail Valley. 18 a) Retail/Service Commercial = 1,127 sq. ft. @ (5/1000 sq. ft.) = 5.6 (bottom of range) b) Health Club/Spa = 13,835.7 sq. ft. @ (1.5/1000 sq. ft.) = 20.8 (top of range) C) Restaurant/Lounge = 2,535.3 sq. ft. @ (6.5/1000 sq. ft.) = 16.5 (middle of range) d) Conference Center = 20,624 sq. ft. @ (1/1000 sq. ft.) = 20.6 (range does not vary) e) Lodging = 116 units @ (.75/unit) = 87.0 (middle of range) f) Multi Family (Club Units) = 15 units @ (.4/unit) = 6.0 (range does not vary) g) Fractional Fee Units = 40 units @ (.4/unit) = 16.0 (range does not vary) Total = 172.5 (-79 existing employees) = 93.5 (X 0.30 multiplier) = 28.0 new employees *Lodging has a particularly large variation of employees per room, depending upon factors such assize of facility and level of service/support services and amenities provided. Bottom of Range Calculations: a) Retail/Service Commercial = 1,127 sq. ft. @ (5/1000 sq. ft.) = 5.6 b) Health Club = 13,835.7 sq. ft. @ (1/1000 sq. ft.) = 13.8 C) Restaurant/Lounge/Kitchen = 2,535.3 sq. ft. @ (5/1000 sq. ft.) = 12.7 d) Conference Center = 20,624 sq. ft. @ (1/1000 sq. ft.) = 20.6 e) Lodging = 116 units @ (.25/unit) = 29.0 f) Multi-Family Units = 15 units @ (.4/unit) = 6.0 g) Fractional Fee Units = 40 units @ (.4/unit) = 16.0 Total Employees =103.7 79 existing employees) = 24.7 (X 0.30 multiplier) = 7.4 new employees Middle of Range Calculations: a) Retail/Service Commercial = 1,127 sq. ft. @ (6.5/1000 sq. ft.) = 7.3 b) Health Club = 13,835.7 sq. ft. @ (1.25/1000 s.f.) = 17.3 C) Restaurant/Lounge/Kitchen = 2,535.3 sq. ft. @ (6.5/1000 sq. ft.) = 16.5 d) Conference Center = 20,624 sq. ft. @ (1/1000 sq. ft.) = 20.6 e) Lodging = 116 units @ (.75/unit) = 87.0 f) Multi-Family Units = 15 units @ (.4/unit) = 6.0 g) Fractional Fee Units = 40 units @ (.4/unit) = 16.0 Total Employees =170.7 79 existing employees) = 91.7 (X 0.30 multiplier) = 27.5 new employees 19 Top of Range Calculations: a) Retail/Service Commercial = 1,127 sq. ft. @ (8/1000 sq. ft.) = 9.0 b) Health Club = 13,835.7 sq. ft. @ (1.5/1000 sq. ft.) = 20.8 C) Restaurant/Lounge/Kitchen = 2,535.3 sq. ft. @ (8/1000 sq. ft.) = 20.3 d) Conference Center = 20,624 sq. ft. @ (1/1000 sq. ft.) = 20.6 e) Lodging = 116 units @ (1.25/unit) =145.0 f) Multi-Family Units = 15 units @ (.4/unit) = 6.0 g) Fractional Fee Units = 40 units @ (.4/unit) = 16.0 Total Employees = 237.7 79 existing employees) = 158.7 (X 0.30 multiplier) = 47.6 new employees Depending upon the size of the employee housing unit provided, it is possible to have up to two employees per bedroom. For example, a two-bedroom unit in the size range of 450 - 900 square feet is possible of accommodating three to four employees. These figures are consistent with the requirements for the Type III employee housing units outlined in the Municipal Code. Please refer to Section IX of this memorandum for details. C. Compliance with parking and loading requirements as outlined in Chapter 12-10 of the Vail Town Code. The proposal complies with the parking and loading requirements outlined in Chapter 12- 10 of the Vail Town Code. Staff's parking calculations are contained in the attached Exhibit G. D. Conformity with the applicable elements of the Vail Comprehensive Plan, Town policies and Urban Design Plan. Vail Land Use Plan: The Vail Land Use Plan applies two "future land use" designations to the property: Resort Accommodations and Service: This area includes activities aimed at accommodating the overnight and short-term visitor to the area. Primary uses include hotels, lodges, service stations, and parking structures. These areas are oriented toward vehicular access from 1-70, with other support commercial and business services included. Also allowed in this category would be institutional uses and various municipal uses. Transition: The activities and site design of this area is aimed at encouraging pedestrian flow through the area and strengthening the connection between the two commercial cores. Appropriate activities include hotels, lodging and other tourist-oriented residential units, ancillary retail and restaurant uses, museums, areas of public art, nature exhibits, gardens, pedestrian plazas, and other ties to the north. The goals contained in the Vail Land Use Plan are to be used as the Town's policy guidelines during the review process for the establishment of a special development district. Staff has reviewed the Vail Land Use Plan and believes the following policies are relevant to the review of this proposal: 20 1. General Growth/Development 1.1 Vail should continue to grow in a controlled environment, maintaining a balance between residential, commercial and recreational uses to serve both the visitor and the permanent resident. 1.2 The quality of the environment including air, water, and other natural resources should be protected as the Town grows. 1.3 The quality of development should be maintained and upgraded whenever possible. 1.12 Vail should accommodate most of the additional growth in existing developed areas (infill). 3. Commercial 3.1 The hotel bed base should be preserved and used more efficiently. 3.2 The Village and Lionshead are the best location for hotels to serve the future needs of the destination skier. 3.3 Hotels are important to the continued success of the Town of Vail, therefore conversion to condominiums should be discouraged. 3.4 Commercial growth should be concentrated in existing commercial areas to accommodate both local and visitor needs. 5. Residential 5.1 Quality timeshare units should be accommodated to help keep occupancy rates up. 5.2 Affordable employee housing should be made available through private efforts, assisted by limited incentives, provided by the Town of Vail, with appropriate restrictions. The Land Use Plan suggests that increased density for commercial, residential and lodging uses in the Village/Lionshead Core areas would be acceptable so long as the existing character of each area is being preserved. Town of Vail Streetscape Master Plan The town's Streetscape Master Plan identifies West Meadow Drive as the primary pedestrian route between Vail Village and Lionshead Mall. To improve the quality of the walking experience and give continuity to the pedestrian ways, as a continuous system, two general types of improvements adjacent to the walkways are considered: 21 1. Open space and landscaping, berms, grass, flowers and tree planting as a soft, colorful framework linkage along pedestrian routes; and plazas and park greenspaces as open nodes and focal points along those routes. 2. Infill commercial storefronts, expansion of existing buildings, or new infill development to create new commercial activity generators to give street life and visual interest, as attractions at key locations along pedestrian routes. Future streetscape improvement concepts for West Meadow Drive include: ¦ A primary pedestrian path (10'-12' wide) on one side of the street with a smaller (5') sidewalk on the opposite side of the street. The primary path crosses from the north to the south side of the street to avoid the head-in parking that exists at the Alphorn and Skaal Hus. Curb and gutter would be used to define the street. The street has been narrowed to the minimum width of 26' curb-to-curb. • Sidewalks are constructed of concrete unit pavers to clearly distinguish them from the roadway. The primary path may be a different color than the secondary walkway. ¦ A pedestrian priority crosswalk is planned near the Chateau Vail site. This raised crosswalk keeps the path at the same level as it crosses the street. • The plan calls for extensive landscaping along the right-of-way to reflect the landscape character of nearby Gore Creek. ¦ Seating is provided at regular intervals. Public art or a similar feature is proposed adjacent to the pocket park at the intersection with Vail Road. Although the town is in the process of refining the plan for West Meadow Drive, staff believes the applicant's preliminary streetscape plan demonstrates substantial compliance with the above-listed provisions. Staff believes the uses and activities proposed are in compliance with the policies, goals, and objectives identified in the Vail Land Use Plan. E. Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. According to the Official Town of Vail Geologic Hazard Maps, the Vail Plaza Hotel West development site is not located in any geologically sensitive areas or within the 100-year floodplain. F. Site plan, building design and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation and overall aesthetic quality of the community. 22 Loadina and Deliverv Staff believes the removal of loading and delivery traffic from West Meadow Drive is a substantial improvement over existing conditions and the revised location along South Frontage Road minimizes impacts to adjacent residents. Additional screening of loading docks in the form of a meandering site wall along the berm between the hotel and the sidewalk abutting South Frontage Road is recommended. Landscaoe Plan and Ooen Space Provisions Staff feels the overall preliminary plan for landscaping and open courtyard areas is functional and aesthetically improved over what exists today along West Meadow Drive. On the other portions of the property, staff believes the size and massing of the building proposed may inhibit the ability of the landscaping to provide a true feeling of "open space." This is particularly true of the western lot perimeter adjacent to the Alphorn and Scorpio buildings. However, is important to recognize the applicant is providing adequate setbacks (pursuant to PA zoning) and that adjacent buildings are encroaching into their respective setbacks nearly 100 percent. Although there are good preliminary concepts at work (particularly along West Meadow Drive), staff does not believe this criterion will be adequately addressed until some of the building's massing/footprint issues are finalized. G. A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. Pursuant to Section 12-7A-14 (Mitigation of Development Impacts) of the "Public Accommodation" zone district regulations, property owners/developers shall be responsible for mitigating direct impacts of their development on public infrastructure and in all cases mitigation shall bear a reasonable relation to the development impacts. The intent is to provide appropriate mitigation to an extent that is proportional to the anticipated impacts of new development. Vehicular Traffic and Road Impacts: The applicant has submitted a traffic study from an engineering consultant to address the impacts of this proposal. The study indicates the proposed SDD will generate 97 additional peak hour (p.m.) trip ends. Although the applicant's traffic circulation plan is the most feasible for this property, the following concern needs to be addressed prior to first reading of an ordinance that would adopt the proposed SDD: ¦ The alignment of the proposed guest exit drive needs to be shifted slightly east (upon the existing access easement on Alpine Standard property) to minimize the potential for conflicts with gas station user entries from South Frontage Road. Pedestrian Traffic Circulation: The applicant (as well as the town staff and elected/appointed boards) has identified the need for a strong pedestrian connection between the proposal and the Vail Village Inn site via the access drive adjacent to Vail Road. The applicant is proposing a 5-foot wide paver sidewalk for pedestrians along this drive. The applicant has added a pedestrian connection along the north wing between the employee housing units and the bus stop along South Frontage Road. 23 H. Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and functions. There are no established public view corridors in the immediate vicinity of this proposal. As mentioned previously, staff believes the exterior changes to the southern fagade and the removal of the atrium roof are a substantial improvement over previous versions of the proposal. Staff believes the preliminary landscape plan is both functional and aesthetically pleasing. Landscape plan details will be addressed during the design review phase. 1. Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. The applicant is proposing to construct the project in one phase. A subdivision of the property is not necessary to facilitate this proposal (with the exception of a condominium map). Construction staging is reviewed as part of a building permit submittal for any project. Vill. CRITERIA AND FINDINGS FOR A CONDITIONAL USE PERMIT -FRACTIONAL FEE UNITS Upon review of the Vail Town Code, the Community Development Department recommends approval of the request for a conditional use permit to allow for the construction of 40 fractional fee units within the Vail Plaza Hotel West based upon the following factors: A. Consideration of Factors: Before acting on a conditional use permit application, the Planning and Environmental Commission (PEC) shall consider the factors with respect to the proposed use: 1. Relationship and impact of the use on development objectives of the Town. In January of 1997, the Vail Town Council adopted Ordinance No. 22, Series of 1996. In part, this ordinance amended the Public Accommodation Zone District allowing fractional fee clubs as a conditional use and set forth criteria for the Commission to consider when evaluating such a request. Since that time, the Austria Haus Club redevelopment project has been completed and the Gore Creek Club and Vail Plaza Hotel projects have been approved by the Town. The applicant is requesting the issuance of a conditional use permit to allow for the operation of a fractional fee club within the Vail Plaza Hotel West. The proposed club would be comprised of 40 one and two- bedroom units. These units would range in size from 943 square feet to 24 2,274 square feet. The average club unit size is approximately 1,400 square feet in size. Each of the units has been designed in such a manner as to provide multiple "keys" to for lock-off units. The total number of "keys" in the club is 122. According to the applicant, the ownership of the club units will be divided into a maximum of 1/121h intervals for the 28 winter weeks during the ski season, while the remaining 24 shoulder season and summer weeks would be owned by the hotel. This ownership program allows for the most attractive weeks of the year to be sold as club units with the proceeds helping to finance the redevelopment project. The remaining interest in the clubs is then used by the hotel to support the conference facility during the summer months. According to the applicant this program will create the best possible occupancy of the hotel and maximize the viability of the conference facility. Through the adoption of Ordinance No. 22, Series of 1996, the Town further recognized the need for lodging alternatives for our guests and visitors. In passing the ordinance the Town Council found that quality fractional fee clubs are an appropriate means of increasing occupancy rates, maintaining and enhancing short-term rental availability and diversifying the resort lodging market product within the Town of Vail. Equally as important, the Council believed that fractional fee clubs were simply another of many forms of public accommodations. It has been a long held belief that in order for the Town to remain competitive and on the leading edge of resort development, that alternative lodging opportunities must be created and creative financing vehicles for hotel redevelopment must be implemented. Staff believes that the conditional use permit for a fractional fee club within the Vail Plaza Hotel will be beneficial to the Town and will have a positive impact on the development objectives of the Community. .2. The effect of the use on light and air, distribution of population, transportation facilities, utilities, schools, parks and recreation facilities, and other public facilities needs. These review criteria are addressed in the Special Development District review portion (Section VII) of this memorandum. 3. Effect upon traffic with particular reference to congestion, automotive and pedestrian safety and convenience, traffic flow and control, access, maneuverability, and removal of snow from the street and parking areas. These review criteria are addressed in the Special Development District review portion of this memorandum (Section VII). 4. Effect upon the character of the area in which the proposed use is to be located, including the scale and bulk of the proposed use in relation to surrounding uses. 25 These review criteria are addressed in the Special Development District review portion of this memorandum (Section VII). Please refer to the nine design criteria used to evaluate special development district proposals. 5. Prior to the approval of a conditional use permit for a time-share estate, fractional fee, fractional fee club, or time-share license proposal, the following shall be considered: a. If the proposal for a fractional fee club is a redevelopment of an existing facility, the fractional fee club shall maintain an equivalency of accommodation units as presently existing. Equivalency shall be maintained either by an equal number of units or by square footage. If the proposal is a new development, it shall provide at least as much accommodation unit GRFA as fractional fee club unit GRFA. The Vail Plaza Hotel West proposal is a redevelopment of an existing hotel. The applicant is proposing to meet the equivalency requirement by replacing a greater amount of accommodation unit GRFA on the site than what exists today. According to information on file in the Community Development Department 120 accommodation units exist at the Chateau at Vail with a total of 33,600 square feet of GRFA. The applicant is proposing to replace the existing units with 116 new hotel rooms totaling approximately 45,666 square feet of GRFA. b. Lock-off units and lock-off unit square footage shall not be included in the calculation when determining the equivalency of existing accommodation units or equivalency of existing square footage. The applicant meets the equivalency requirements irregardless of the calculation of lock-off square footage. C. The ability of the proposed project to create and maintain a high level of occupancy. The fractional fee club component of the Vail Plaza Hotel West proposal is intended to provide additional hotel and hotel-type accommodation units in the Town of Vail. Although not included in the equivalency requirement, the fractional fee club units have been designed to accommodate lock-off units. Staff believes that lock-off units provide an additional community benefit of added pillows. If a fractional fee club unit owner purchases an interest in a multiple bedroom unit, and does not desire to utilize all the bedrooms, they can then have the opportunity of returning the unused bedrooms (lock-offs) to a rental program. Staff feels that by providing lock-off units, and managing the availability of the lock-off units in a rental program when not in use, a fractional fee club project can significantly increase the 26 availability of accommodation units in the Town of Vail. Through our research on the fractional fee issue back in 1996, staff then identified some potential positive impacts of fractional fee units in the Town of Vail: A) Activity during the shoulder seasons tends to increase due to an increase in year-round occupancy; B) The attraction of revenue-generating tourists; C) The efficient utilization of resources. This is the "warm beds" concept; D) More pride of ownership and community buy-in with fractional fee club units than with accommodation units; E) Increased levels of occupancy; and F) Increased resort exposure due to the extensive number of interval owners. d. Employee housing may be required as part of any new or redevelopment fractional fee club project requesting density over that allowed by zoning. The number of employee housing units will be consistent with employee impacts that are expected as a result of the project. Staff included the fractional fee club units into the calculation of the employee generation resulting from the proposed major amendment of the Special Development District. Based strictly on the number of club units, the development will generate a need for 16 "new" employees. When the multiplier of 0.30 is factored in, 4:8 of the "new" employees the developer must provide deed- restricted housing for are generated by the fractional fee club. e. The applicant shall submit to the Town a list of all owners of existing units within the project or building; in written statements from 100% of the owners of existing units indicating their approval, without condition, of the proposed fractional fee club. No written approval shall be valid if it is signed by the owner more than 60 days prior to the date of filing the application for a conditional use. The applicant, Doramar Hotels, represented by Waldir Prado (dba Daymer Corporation) is the sole owner of the property. No other written approval is required. 27 B. FINDINGS The Plannina and Environmental Commission shall make the followina findinas before arantina a conditional use hermit: 1. That the proposed location of the use is in accordance with the purposes of the conditional use permit section of the zoning code and the purposes of the district in which the site is located. 2. That the proposed location of the use and the conditions under which it would be operated or maintained would not be detrimental to the public health, safety, or welfare or materially injurious to properties or improvements in the vicinity. 3. That the proposed use would comply with each of the applicable provisions of the conditional use permit section of the zoning code. IX. CRITERIA AND FINDINGS FOR A CONDITIONAL USE PERMIT- EMPLOYEE HOUSING UNITS The Community Development Department recommends approval of the applicant's request for a conditional use permit to allow for the construction of 14 Type III employee housing units within the Vail Plaza Hotel West based upon the following factors: A. Consideration of Factors: Before acting on a conditional use permit application, the Planning and Environmental Commission (PEC) shall consider the factors with respect to the proposed use: 1. Relationship and impact of the use on development objectives of the Town. In September and December of 1992, the Town Council passed Ordinances 9 and 27, Series of 1992, to create Chapter 12-13 (Employee Housing) which provides for the addition of Employee Housing Units (EHUs) as permitted or conditional uses within certain zone districts. The definition in that ordinance states: "Employee Housing Unit (EHU) shall mean a dwelling unit which shall not be leased or rented for any period less than thirty (30) consecutive days, and shall be rented only to tenants who are full-time employees of Eagle County. EHUs shall be allowed in certain zone districts as set forth in Section 12-13 of this Code. Development standards for EHUs shall be as provided in 12-13 - Employee Housing. For the purposes of this Section, a full-time employee shall mean a person who works a minimum of an average of thirty (30) hours per week. There shall be five (5) categories of EHUs: Type I, Type II, Type III, Type IV, and Type V. Provisions relating to each type of EHU are set 28 forth in Chapter 12-13 - Employee Housing of this Code." The applicant is proposing 14 one-bedroom (two bed) Type III employee units for a total of 28 beds. Pursuant to Section 12-13-3(C)(7), Vail Town Code, occupancy of an employee housing unit shall be limited to a maximum of two persons per bedroom. The applicant is now proposing two beds per bedroom and is therefore consistent with the Town's minimum basic requirements for employee housing units. All other standards for employee housing units have been met. Each EHU contains bathroom and kitchen facilities and is approximately 355 square feet in size. 2. The effect of the use on light and air, distribution of population, transportation facilities, utilities, schools, parks and recreation facilities, and other public facilities needs. These review criteria are addressed in the Special Development District review portion (Section VII) of this memorandum. 3. Effect upon traffic with particular reference to congestion, automotive and pedestrian safety and convenience, traffic flow and control, access, maneuverability, and removal of snow from the street and parking areas. These review criteria are addressed in the Special Development District review portion of this memorandum (Section VII). 4. Effect upon the character of the area in which the proposed use is to be located, including the scale and bulk of the proposed use in relation to surrounding uses. These review criteria are addressed in the Special Development District review portion of this memorandum (Section VII). Please refer to the nine design criteria used to evaluate special development district proposals. B. FINDINGS The Plannina and Environmental Commission shall make the followina findinas before arantina a conditional use permit: 1. That the proposed location of the use is in accordance with the purposes of the conditional use permit section of the zoning code and the purposes of the district in which the site is located. 2. That the proposed location of the use and the conditions under which it would be operated or maintained would not be detrimental to the public health, safety, or welfare or materially injurious to properties or improvements in the vicinity. 3. That the proposed use would comply with each of the applicable 29 provisions of the conditional use permit section of the zoning code. 30 VAIL PLAZA HOTEL WEST LIST OF EXHIBITS (.1UNF 191 2901- VAIL TOWN COUNCIL) EXHIBIT NUMBER DESCRIPTION A Architectural Drawing Reductions B Staff Zoning Analysis C Staff Building Height Correlation Analysis D Staff Adjacent Building Height Analysis E Applicant's Sun/Shade Analysis F Applicant's View Analysis G Staff Parking Analysis H Applicant's Traffic Study I Applicant's Statement of the Request J Applicant's Mass Study s. r EXHIBIT A ARCHITECTURAL DRAWING REDUCTIONS 0 n ' u ~ ,nm Q ~ ,.a„' .ass. „sws saiarcv?~ tog Ap, 10117 <1 1 1 U / ,N sass / Q ¦ e , gu,ld~n'~e He1gF?ts t \ ~i--~ lated Contours 1 2OO'~ 1 sca e« ~n s 54, An ~jotel olorado Vail, C June 131 2001 L fwn rnn , 1•n.n I I.W.,1, 1•fe. am- .fan .r.f A\~ A~ .fn j lam - ,.In, I J rlsl I 1. I _ I ~ I len _ • .lflT _ rbsd,r lK I r.lf.n Inl.n f r. Ilan ~ ~ ( a,af1 (.1161 I.ff., _ . L f•l.n a6N, ~LIf.'1 ' ,a611 1 faa _ \i? ~ -17 ~f Ifl, ~ ~ ~ ~ Jai. 1 \ ,.IA (m ,.Im (ar1 Building Height 2 Z E H R E N " a ° Naza H®td e West Height Above Grade AND ASSOCIATES, INC. Vail, Colorado Interpolated Contours All MD „{11 N1O°° IM MaK P-4 8M June 13, 2001 Scale: 111 = 50'-0" r -E- -E- ? ? ~~k -E- a ' I LJ LJ ~ I 1 l L 4 ~uu L -1 -1- L- J I-~ L - u u u u au~ m ~I I I ~ u u u 'U p 0 Naza Hote~ - Cyst U Roof Plan ZEHR(;_N ~~1 AND ASSOCIATES INC Vail, Colorado Scale: 1" = 50'-0" ANOMMM-RM"C- WffJ= June 13, 2001 n era,snmf uxaaw?,ae FY7Y mm o 0 0 0 0 o 0 o/mm I~I M~ec~hw~'ul coo ~ Mah~eal 7 ? I u u u u u E) D ° ? ? o M o? i q ~ o \I/ ? eme q n. ? u u El ~u u u L aua m 0 0 Q ~ _ u u u 'U L Va 0 Naza H otd ° West U Level 6 (223.01) ZEHREN AND ASSOCIATES, INC Vail, Colorado Scale: 1" = 50'-0" MUM . June 13, 2001 m sro+wav xsmosow c 2 I Ud O UL DL y u i ML ML ® ® e El ~ 0 0 5 ? f4QrL{Pp) i~eey ~ aeae aeae ~ ~B oo ?o 0 ED 113 Q0 F1 °?0 ED El ~ EL0 \I/ o ems ? ? HM A _ m m ? ? 0 0 L Z E H R E N Va 0Maza Ho W d West Level 5 (21 3.0') AND AssocIAM, INC Vail, Colorado Scale: 1" = 50'-0" rauoz nn.wON oxauro n® June 13,2001 R S,AMMtl/ IMtO1Of1470r ~ Fl1aEwn ur ` - 1 LUU~ H-7 HA / u, FA FA P-10 kv,bc pD~ Ekv,mr EInhby ML Lobby ML o~ a 0 0 ~0 / ® Mah R]~ CY7 orn ECb n"m crn Mefi t / (1 E] -7 UL UL o ? n ~FrtaPUn L LJ 0° °0 -Pfl17 LW ? ? Bm~ o ' a03 III^-{I'' ~ , 1~ Mcehmial 1 - ' I i ~ ~ ~ ~ Wr ?u? rW ~ m ° ~ I~ aoo n m m VaH Haza Hot d ° West 8 Level 4 (202.51 ZEHREN AND ASSOCIATES, INC Vail, Colorado Scale: 1" = 50'-0" pm" "M AWK ovoluoo mo June 13, 2001 7B, msfsmn FAlleo~su~or i W I LLI Xt ALL E3 VI ® - ® ® uw uw P North Elevation Southwest Elevation MOUT South Elevation Hotd e West Elevations ~ V~1Q Q Naza ZEHREN TB, INC Vail, Colorado Scale: 1" = SO'-0" AND ASSOaA. p~. IIAIMC- M910Y June 13, 2001 F.OXW SM AVOK CMXKOO 0 M OM664 7 usmaw?fao ._~inss ON m ems meow, I was Jg*s rTTTIIM 4 WW -L90 6 • .rte East Elevation 1 ~s ® ® was +u=, ,r eu;tw - .seas West Elevation Vail Plaza Hotel - West Elevations ZEHREN AND ASSOCIATES, INC Vail, Colorado Scale: 1" = 50' -"4 cm o w June 13, 2001 ,aieµ miaeaoo %oiaa ia~m ne,swr~ rasn~..a~ c r O / ng Dwdfiq I Dwelling Had PA 1 F.-d F. N~.Y_. Had \V V Fnai-d Pm .__..7MB+ !H Had Had Had ~f+n^ Had I~ pynp II I BdI+-m _LC-veee 1 a- E-y/M" . ..t9iF8~ Peking Cuye 1,* West Elevation Dad ng 03 I Dwdfiog 4a•1 ~/V Dndfing ( _4 ..a''91SY0 Fmllo W Fa I/ \I Hold Fnwd-I F. [y] Had H-1 1XI ,W Had IV' xad 1 ® W.I tb] ' ~ I ~ Pn C-rme Bdlnan a 1 _ i~d PukWg Oenp .rte East Elevation L VaH Naza Hotd o West Building Sections Z E H R E N Vail, Colorado N,,D ws?E TIs. WG ro.Fa, o. +wDl4 m Scale: 1" = 50'-0" "°"WA OM`anDD - I O am June 13, 2001 , x e,asrmv Faegw,re eex.,,, , . ;~1as Praua~ul F-... Fa Fa 'F-1-.1F. Hood How FnnionJ P. Fnd7ond Fa IN Hold ® ® HotJ 1 X 1 FnctionJ Fa Old% FnotlaW Fa Xord ~4'~ _ ?.~V Fnetlond Fa DA H- Lobby 7 eaPlera,k . 1/V kmy Fjpcenvw I I xal~nchm 1 Kikha m • m m m 'may H. fth club Pvkios Q-v Neil.. ,.!Wi19.6 South Elevation Fn ioeu ra ' 1 nenow r ~ iCfO OII.W4wr~ ~Print-1a IXIXI Haul I, I i q I/ V -welionJ Fa _,~Y~O FncuonJ F« I/ V How Hdel Iw FneliaeJ Fa ~tifi90 y Hdd I~ Fod ..IF. m Lon RnW Fndiand Fa P.C-- IXI Pmplnyen Hmuin6 1 Nr.:.fi.~ sp I I Kkda Nei I 7190 PukMiamBo wlRO North Elevation 7 VitH Naza Hotd e cyst Building Sections Z E H R E N Vail, Colorado Scale: 1" = SO'-0" AND ASSOCIATES, INC. AhOr120M-RA1M,6-WffMM June 13, 2001 Plomm lA A K CCUM M0 hm MOM= Mwaowi 0 ti _ F- E ~ pa u ~ N r uD u~ I - PftmT Uf. O to O~m ao ~o~ 0 0 CCO coo CCO CCU C03 C03 cot? Y Val H Naza Hot d a Cyst ~ Landscape Area Z E H R E Vail, Colorado Scale: 1" = 50'-0" AND ntES~ June 13, 2001 ro:rmr 196 AvaN, auwwo n Jam A b10M~1 rAlO)gr~lrtl PIMOFl1Y U.E ` ! K u VV 8 a a _ 1uu -y 1 11 o~ c n coo t ~n i, ccp cOo aoo ecO o00 000 ccv coo \ Va H Naza Hot d o Cyst ~ Hardscape Area Z E H R E N Vail, Colorado Scale: 1" = 50'-0" AND ASSOCIATES. INC. AVHff@M=. FM"- MI June 13, 2001 ,s ae~«mn Mttmaw?~m v L O o uu In 94 nn \ 6 0 0 0 0 \ acn ~ a9a~ ~ 'daP ~n ? ab ar CCO Qa p ~ \ ~a-p Cm coo UX03 amca CICO Cm L ValH Maza Hot d e Cyst U AR. Landscape Area ZEHREN AND AMOCwMs, INC Vail, Colorado Scale: 1" 501-0" ,un.,. RM - rw..a - MNMOM June 13, 2001 ?Al ,fn Amt4 m01M0 UN 1B MO~MivO n.,nrw,m _j I I ~/iiin ~ ~iiirr r~/ ? ~ iii// Jj./~~ W-____~ LLLCLLLYJ11J1111J11 111J1IIL1LLfl' / ° n Vaol Naza Hot d - West ? Site Coverage ZEHREN AND ASSOCIATES, INC. Vail, Colorado Scale: 1" = 50'-0" Nomcnir - PL"&W . bf-M PA= „x AVOK CMMWO mm tune 13, 2001 T&W0004 if FAXWNOWUW 4 ~ momw Um /~~,r /ii r f11 iiii/ r f? I I Q ' 1 I L Va H Nana Hotd e West 8 Site Coverage ZEHREN Vail, Colorado Scale: 1" = 50'-0" AND ASSOCIATES, INC. AMOVOMMF•,INMM-MUM= June 13, 2001 ~ PASS 196 MIOK CLOMMO 0 11 alp - \ / - IDIliflllllll I _I I ! I ~I ~-I I ICI I~ y U U Qa D ® w.v. =0QOOC l l l l l i. IIJ~I I I~~ 1 °a nor 1 1 1 ~ ~ ~ ~ ~ ~ Vapp Haza H®~(~p = West i Circulation Plan AND ASSOCUTBS, INC. Vail, Colorado Scale. 1 = 80'-011 „ .'L . w. M June 13, 2001 mime en AVCK onaemo IN= ,n wswwsr Mxs~sM.~ao w FRONTAGE ROAD I U I~ IIIIIIIIIIII(I ~ a~ III!(-I~IIIII!y -LL DC I I ODC i i a0~ 111111111UI11~ 1 a~ ~c 1 L Va H Nana Hotd - West ? Existing Circulation Z E H R E N Vail, Colorado Scale: 1 80'-0" AND ASSOCIATES, INC. June 13, 2001 nA~...c - .ae.u~ PAIM IM AVOK CMDR D nw ~a egwam us~elw~Iw EXHIBIT B STAFF ZONING ANALYSIS Exhibit B Zoning Analysis Vail Plaza Hotel West (June 19, 2001- Vail Town Council) (Deviations from underlying zoning are indicated in bold type) February 12, 2001 May 14, 2001 Development Criteria Allowed/Required Proposed SDD Proposed SDD Lot Area: 101,140 sq. ft.. 101,140 sq. ft. 101,140 sq. ft. GRFA: 150% / 151, 710 sf* 150% or 151, 710 sf* 150% or 151,696 sf* Dwelling units per acre: 25 du/acre or 58 d.u. 7.33 du/acre or 17 d.u. 6.47 du/acre or 15 d.u. 120 (au) 116 (au) 39 (ffu) 40 (ffu) 17 (du) 15 (du) Site coverage: Above grade: 65% or 65, 741 sq. ft. 62.4% or 63, 116 sq. ft. 57.9% or 58,522 sq. ft. Below grade: 65% or 65, 741 sq. ft. 76.0 % or 76,821 sq. ft. 76.3% or 77,219 sq. ft. Min. Setbacks (above grade): Frontage Road: 20' 0' 0' Vail Road: 20' 20' 16' West Side: 20' 21' 20.0' W. Meadow Drive: 20' 20' 20.5' Min. Setbacks (below grade): Frontage Road: 20' 15.75' 8.5' Vail Road: 20' 4.75' 4.5' West Side: 20' 8.75' 16.75' W. Meadow Drive: 20' 19.5' 2.5' Max. Height: 48' sloping 77.5' sloping 73.5' sloping (North Wing) 60' arch. proj. 92.3 arch. proj. 86.5' arch. proj. Max. Height: 48' sloping 60.25' sloping 47.5' sloping (South Wing) 60' arch. proj. 85.25' arch. prof.. 64.5' arch. proj. Landscaping: 30% or 30,342 sq. ft. 26.1 % or 26,438 sq. ft. 30.5% or 30,874 sq. ft. Parking: 222 spaces 216 spaces 225 spaces Loading: 3 berths 3 berths 3 berths * this proposal complies with the required 7061130% equivalency requirement for GRFA within the PA zone district. EXHIBIT C STAFF BUILDING HEIGHT CORRELATION ANALYSIS Building Height Correlation Analysis - Vail Plaza Hotel West Northwest Corner (Adjacent to Scorpio) Heiaht Proposed Heiaht Allowed Highest Ridge: 73.5' 48' Avg. Dormer: 53.5' 48' Eave: 40.5' 48' Arch. Proj.: 86' 60' Southwest Corner (Adjacent to Alphorn) Heiaht Proposed Heiaht Allowed Highest Ridge: 59' 48' Avg. Dormer: 52' 48' Eave: 29.75' 48' Arch. Proj.: n/a 60' Southeast Corner (Adjacent to 9 Vail Rd.) Heiaht Proposed Heiaht Allowed Highest Ridge: 40.5' 48' Avg. Dormer: 34.75' 48' Eave: 16.75' 48' Arch. Proj.: 64.5' 60' Northeast Corner (Adjacent to Amoco) Heiaht Proposed Heiaht Allowed Highest Ridge: 70.5' 48' Avg. Dormer: 49.25' 48' Eave: 36' 48' Arch. Proj.: 82.5' 60' EXHIBIT D STAFF ADJACENT BUILDING HEIGHT ANALYSIS Adjacent Building Heights - Vail Plaza Hotel West "Resort Accommodations and Services" lone - South Frontaae Road Buildinq Max. Height Zone District/Heiaht Allowed Alpine Standard 25.3' HS/38' Existing Chateau Vail 52.8' (roof); 56.9' (prof.) PA/48' Scorpio 55.2' HDMF/48' West Star Bank Building approx. 54'* SDD-CSC/38' Evergreen Lodge approx. 88'* SDD-HDMF/48' "Transition Area" zone - West Meadow Drive_ Buildinq Max. Heiaht Zone District 9 Vail Road approx. 66.2'* PA/48' Alphorn 32.6' HDMF/48' Skaal Hus approx. 46' (phase II) HDMF/48' VVMC approx. 53'* GU/per PEC First Bank 28' PA/48' Villa Cortina approx. 48'* HDMF/48' Fire Station 42.3' GU/per PEC Meadow Vail Place approx. 52'* HDMF/48' Other Residential Units approx. 33'* R/33' Vail Villaae Zone - east of Vail Road Buildina Max. Heiaht Zone District Gateway 54.8' SDD-CCI/43' Vail Village Inn (VPH East) 77.3' (approved) SDD-PA/48' Sonnenalp (Bavaria Haus) approx. 47'* PA/48' * indicates heights referenced from architectural drawings and town records. All other building heights are referenced from stamped surveys. Of the 17 properties contained in the "context area" (including the existing Chateau Vail), 8 buildings (or 47%) exhibit a deviation in building height. EXHIBIT E APPLICANT'S SUN/SHADE ANALYSIS 4a i an.rt~. a" rte, Winter 10 am Winter 2 pm E H R E N Vail Plaza Hotel - West Winter Sun Shade Diagram Vaill,Color ado ~yy ,T C~ + II I I hti Summer 10 am Summer 2 pm ~ZE~HREpN AND Ai8CCIATE8• INC Vail ail Plaza Hotel West Summer Sun Shade Diagram Vail, Colorado m+w.mnwmar~,.. Jme 13, 2001 i r i 1 ~ II R I F r Fall/Spring 10 am Fall/Spring 2 pm E H" E N Vail Plaza Hotel - West Fall/Spring Sun Shade Diagram A NO A68001A TEB.NG. Vail, Colorado nNn°nwn`wmawwo June 13, 2001 EXHIBIT F APPLICANT'S VIEW ANALYSIS tee, . I - l li/ ~ _ r Z E H R E N Vail Plaza Hotel - West Golden Peak View AND AN,540CIA=~INC Vail, Colorado io. u, zoo, i r I L tti u 4~V Z H R E N SSO Vail Plaza Hotel - West Frontage Road AN. C ^=~TyB. INC _ Vail, Colorado 3., 13.201 a Yi A E H R E N Vail Plaza Hotel - West Vail Road View AND AS80CIATES. INC. urtre~mrv~~•v ES Vail, Colorado m.w :N mw. + June 13, 2001 p 1 F ~ R t } a4 % r v r AN Es OCIAATM Mr. Vail Plaza Hotel - West Golden PeakView ::m vall, Colorado pa~...~...~. Jwe 13, 2001 tpf M1I E H E N AND.M Vail Plaza Hotel - West West Meadow Drive ~.emR,~Kru.A88O01A ~TE9. IruxxwaNC. Vail, Colorado •M.m ~ June 13, 2001 C A uR x Y' _ r ~ A E H R E N Vail Plaza Hotel - West West Meadow Drive p!l~.uY!lNKYCxiKCIIN! Vail, Colorado Am u, 2001 JI 46 kk ~ t ~ I a I. Z E H R E N OC.ATE8. INC. Vail Plaza Hotel -West Frontage Road Vail, Colorado AND A~S _ - June ia. 2001 u z~ AN E H ATEB. E INCN. Vail Plaza Hotel - West Frontage Road O c3~m8OC. merw wweew Vail, Colorado June I), 2001 k Y 1 11!M~1 t ma aft- Ohba, . Z ESHREE N Vail Plaza Hotel - West Frontage Road ..a Vail, Colorado Jwt 17.2001 EXHIBIT G STAFF PARKING ANALYSIS STAFF PARKING CALCULATIONS VAIL PLAZA HOTEL WEST Parking Use Factor Requirement Sub-total Notes Reduction Sub-total Accommodation Units 116 0.7 81.2 81.2 Fractional Fee Units 40 0.7 28 28 Dwelling Units 15 1.4 21 21 Employee Housing Units 14 1.4 19.6 I 19.6 Restaurant/Bar 1708 1/250 sf 6.832 I 6.832 Retail 1127.25 2.3/1000 sf 2.59269056 Primarily internal 25% 1.9445179 Conference (Ballroom Only) I 10029 1/330 sf 30.3909091 30.390909 Health Club 10015.7 1/300 sf 33.3856667 Leasable Area Credit 15% 28.377817 Spa / Group Wellness - Therapy 3820 1/370 sf 10.3243243 Primarily external 10% 9.2918919 233.325591 226.63714 Total Per Code (includes mixed use credit) 221.659311 (Functional) Parking Proposed 1225 spaces MAY 14, 2001 EXHIBIT H APPLICANT'S TRAFFIC STUDY March 23, 2001 ALPINE ENGINEERING, INC. Revised June 5, 2OU 1 Mr. Greg Hall, P.E. Town of Vail Department of Public Works 1309 Elkhorn Drive Vail, CO 81657 Re: Chateau Vail Access Locations Dear Greg: The purpose of this letter is to make recommendations for the access driveways to the proposed Chateau Vail Hotel based on the revised site plan. This will include location with respect to other driveways (both existing and proposed), the roundabout, design criteria, full or restricted access, etc. The site is located between South Frontage Road and West Meadow Drive, near the southwest comer of the intersection of South Frontage Road and Vail Road. The existing hotel has 120 rooms, an 80 seat restaurant and 60 seat bar. The revised development plan currently includes a 116 room hotel, 15 free market condominiums, 40 fractional fee condominiums, 1708 sf restaurant and cafe/bar, 1127 sf retail. space and a 13,836 sf spa/health club. The hotel will also have 14 employee housing units with 28 beds. Existing. Conditions: Access to the site is from 4 locations: 1) South Frontage Road via a shared driveway wmance with the existing Amoco service station; 2) the private driveway from Vail Road and 3) the driveway from West Meadow Drive, and 4) the eastern driveway to West Meadow western drive. - 1) Access from the South Frontage Road is provided from a shared entrance with the Amoco (Alpine Standard) service station. The South Frontage Road has two eastbound, two westbound and a middle turning land adjacent to the site. A third eastbound lane is provided just before the _roundabout. The posted speed is 25 mph. A concrete median on the South Frontage Road extends from the edge of the roundabout to the western edge of the entrance, which terminates -at the center turning lane. Vehicles exiting I-70 can travel west on the South Frontage Road, make a short u-tum around the median and enter the driveway. It is assumed that only a few vehicles (10%) make this turn to enter the site. This shared entrance is located about 100 ft. west of the roundabout. 2) The second access is a ,two way driveway from Vail Road, approximately 150 ft. south of the roundabout and about 60 ft. south of the Vail Road access to the Amoco, service station. An existing two lane driveway that leads to the parking garage for Vail Gateway is located directly across from the hotel driveway on Vail Road. Proposed plans for a development of the parcel south of the Vail Gateway indicate the construction of a `one-way' exit adjacent to the existing access to the Vail. Gateway parking garage. 3) The third access to the site is a two-way driveway from West Meadow Drive located on the western side of the. site. We assume that this access is rarely, if ever, used by hotel guests since it is not readily apparent that the hotel parking lot can be accessed from this driveway. Since the majority of vehicles travel on the South Frontage Road or Vail Road, trip rates are expected to be low at this entrance and are not considered im this report. Edwards Business Center • P.O. Box 97 • Edwards, Colorado 81632 • (970) 926-3373 Fax (970) 926-3390 4) The fourth access is the service/loading dock on the eastern side of the site to/f..... West Meadow Drive. In order to turn around, backing and turnaround movements occur on West Meadow Drive. Proposed Conditions: 1) A separate one-way entrance for service vehicles making deliveries to the hotel (approximately four per day) is proposed from South Frontage Road on the western side of the site, approximately 130 ft. west of the Town of Vail Municipal Center entrance and 300 ft. west of the Amoco access. This access drive will parallel South Frontage Road along the front of the hotel and connect to the existing shared access at the Amoco service station. Vehicles will only be permitted to make a right (eastbound) turn from the Amoco access onto South Frontage Road. It is proposed to extend the existing median on South Frontage . Road approximately 100 ft to the west to prohibit left turns in/out of the shared Amoco access. 2) The existing driveway from Vail Road is proposed to be one-way in (right turn only from Vail Road), and will be used by hotel guests to enter the property. Vehicles will exit onto South Frontage Road via the shared access at Amoco. 3) The existing driveways onto West Meadow Drive will be closed. References and Assumptions: The Institute of Traffic Engineers (ITE) "Trip Generation" publication (e edition) has been used to determine average vehicle trip ends (AVTE) for the existing and proposed conditions. The "peak hour of generator" has been used to determine traffic volumes. The ITE publication provides various land use options for hotel-type establishments. This report will consider the existing and proposed hotel as a "Resort Hotel", land use 330 per ITE. As described in the manual, "Resort Hotels are similar to hotels (land use 310) in that they provided sleeping accommodations, restaurants, cocktail lounges, retail shops and guest services. The primary difference is that resort hotels cater to the tourist and vacation business, often providing a variety of recreational facilities, rather than convention and meeting business. Resort hotels are normally located in suburban or outlying locations on larger sites than conventional hotels". It was assumed that this project fits the above description. The trip gen,, .L:on per room tends to be less for a "resort hotel" than for a "hotel" and given the location of the site, this should be true for this project. Since the hotel is within close proximity to the various attractions in Vail, it would be expected that the majority of guest will walk or use the free public transportation, thus generating less vehicle volumes than a typical hotel where guests would normally have to drive to attractions. The description of a resort hotel (as well as a hotel) includes restaurant, cocktail lounge, retail shops, etc. Based on this description, this report will include the proposed restaurant, bar, etc. in the traffic generated by the resort hotel, and does not break these out separately in determining traffic volumes. It is to be noted that the ITE description does not specify square ,footages, seating, etc. for each auxiliary use in relation to the number of hotel rooms. The manual does not provide data for trips generated on weekends, only weekdays, as we have previously discussed. Section 220, Apartment was used to determine the trips generated by the employee housing units since there is no "employee housing unit" or similar category in the ITE manual. The apartment rate was adjusted to account for reduced trips for employees working on site. The proposed development will also have 15 free market condominiums and 40 fractional fee condominiums which are designated as "High-Rise Residential Condominium/Townhouse" Land Use 232 per ITE to determine trip rates. This designation was chosen since the description best matches the proposed development. The proposed health club/spa is identified under land use 493 (Health Club) in the ITE manual. It should be noted that only one observation was used in the ITE study, thus the data extrapolated should be used with extreme caution due to the small sample size. An on-site traffic count has not been conducted for this report. Vehicle trip ends were estimated using the values for each land use as provided by ITE. The percentage of vehicles entering the site from any given direction has been assumed and is not based on actual observations. The assumed percentage for each direction is indicated on the accompanying diagrams. Existing Average Vehicle Trip Ends: A.M. PEAK HOUR P.M. PEAK HOUR GENERATOR GENERATOR*4 LAND USE ITE SECTION UNITS RATE: % enter/exit Total Enter Exit RATE: % enter/exit Total Enter Exit Resort Hotel 330 Peak Hr. Generator 1 120 rooms .47:63%/37% 57 36 21 .59:50%/50% + 71 35 36 I 1 1 I 1 Gas Station f 844 (Peak Street) i 10 fuelina 1 12.27:51%/49% 1 123 63 1 60 1 14.56: 51%149% 146 74 1 71 Total I positions 1 1 180 1 99 1 81 1217 1 109 1 107 Existing Vehicle Trip Ends: VAIL PLAZA HOTEL REVISED TRIP RATES 5/29/01,6/l/01 A.M. PEAK HOURI P.M. PEAK HOURI OF GENERATOR GENERATOR *4 LAND USE ITE SECTION UNITS RATE: %enter/exi Total Enter Exit RATE: %enter/exit Total Enter Exit Resort Hotel 330 Peak Hr.Generator 116 rooms .47:63%137% 55 35 20 .59: 50%/50% 68 34 34 Employee Housinq*21! '5 14 units 4 3 1 .46.3 50%/50% 7 3 4 1 I 1 11 1 1 none I I I Condo/Timeshare 1232 Peak Hr. Generatorl 55 units 1 .34:17%/83% 1 19 I 3 1 16 I .38:68%132% 1 21 1 . 14 1 7 Health Club I 493 113.84 KSF 1 .3: 46%/54% 1 4 +I 2 I 2 I 4.3:61%/39% 1 60 1 36 1 24 Subtotal-Site 1 1 I I 82 I 43 I 39 I 156 1 87 I 69 Gas Station 1 844 (Peak Street) 110 fueling 112.27: 51%/49% 1123 63 I 60 114.56: 51%/49% 1 146 1 74 1 71 Total I I positions) 1205 106 I 99 I , 302 1161 , 140 *1PCE = passenger car equivalent *2 Having employee housing on site should reduce hotel trip rates, which includes both patrons and employees. No reduction has been provided for hotel trip rates. *3 No reduction provided for internal hotel patrons using the health club. *4 P.M. is peak hour of generator except as noted under "ITE Section". *5 (220) Apt = (6.63 AVTE -2) (10% peak) =.463 Auxiliarv Lane Reouirements: Frontage Road Per the 1998 State Highway Access Code Section 3.13, South F..,..lage Road is category F-R (Frontage Road). The posted speed limit is 25mph. Section 3.13 of the State Highway Access Code states that auxiliary lanes are required as follows: 1) A left turn lane with storage length plus taper length is required for any access with a projected peak hour left ingress turning volume greater than 25vph. Existing left turn DHV fi.,... South Frontage Road into the existing shared entrance is estimated at 11. The one-way ....l.a..ce drive on the west side of the property(to the loading dock) is for service vehicles only. Since DHV = 1 (or up to 3 pce's), a left turn decel lane is not required. However, approximately 155 ft. is available in the existing turn lane (which can be used for deceleration and stacking) from the end of the proposed median to the new entrance. 2) A right turn decel lane with storage length plus taper length is required for any access with a projected peak hour right ingress turning volume greater than 50vph. Existing right turns from South Frontage Road are estimated at 33. Proposed right turns are estimated to be 1 (or up to 3 pce's) at the west access to the hotel loading dock and 30 at Amoco. A right turn decel lane is not required. 3) A right turn acceleration lane with taper is required for any access with a projected peak hour right turning volume greater than 50vph when the proposed speed on the highway is greater than 40mph and the highway has only one lane for through traffic in the direction of the right turn. A right turn acceleration lane is not required on multi-lane highways of this category. Since South Frontage Road is multi-lane with a posted speed of 25 mph, a right turn acceleration lane is not required. 4) A left turn acceleration lane with transition taper may be required if it would be a benefit to the safety and operation of the roadway or as determined by subsection 3.5. A left turn acceleration lane is generally not required where: the posted speed. is less than 45mph, or the intersection is signalized, or the acceleration lane would interfere with the left turn ingress movements to any other access. South Frontage Road has a posted speed of 25. No left turns are proposed from the project, thus a lane should not be required. Subsection 3.5 of the State Highway Access Code states: The auxiliary lanes required in the category design standards may be waived when the 20'h year predicted roadway volumes conflicting with the turning vehicle are below the following minimum volume thresholds. The right turn deceleration lane may be dropped if the volume in the travel lane is predicted to be below 150 DHV. The left turn deceleration lane may be dropped if the opposing traffic is predicted to be below 100 DHV. The right turn acceleration lane may be dropped if the adjacent traveled lane is predicted to be below 120 DHV. The left turn acceleration lane may be dropped if the volume in the inside lane in the direction of travel is predicted to be below 120 DHV. Summary Table* West, Loading Dock to Access to Frontage Road South Frontage Road I Allowed per 3.13 , Current/Projected Lane Req'd per 3.13 Left Decel 25 0/0 PCES N Right Decel 50 0/3 N Left Accel N/A 0/0 N Right Accel N/A 0/0 N Summary Table* East, shared access with Amoco South Frontage Road Allowed per 3.13 Current/Projected I Lane Req'd per 3.13 Left Decel 25 11%0 PCES N Right Decel 50 33/30 N Left Accel N/A I 21/0 N Right Accel N/A 50/112 N *The information contained in the summary table with regards to existing and proposed vehicle trips is based solely on ITE "Trip Generation" publication for specific land use as previously described in this report. Turning movements are estimates and not based on actual field observations. The current and projected movements include hotel and gas station trips. Level of Service Gas Station/Frontage Road The level of service was calculated for the right tam out of the gas station onto the frontage road. Due to the lack of left turns into or out of the access, conflicts at the intersection are reduced, which improves capacity, depending on the split of frontage road traffic (how much of the total 1315 peak hour traffic volume per study by Felsburg Holt + Ullevig is in each lane). West of the gas station access, there are two lanes of traffic, east of the access and leading into the roundabout thereare three lanes. Generally, only eastbound frontage road traffic making a right turn to Vail Road gets in the right lane to make the right turn onto Vail Road, and the remaining traffic splits evenly into the two remaining lanes. This is the 41 % of traffic in outside lane option. If traffic is split evenly between the two lanes west of the gas station access, then 50% of the traffic would be in the outside lane, option 2. Since most eastbound frontage road traffic is headed towards the I-70 underpass or continuing eastbound on the frontage road, the 50150 split is likely a worst case scenario. Option % Traffic in outside lane LOS 1 41% A 2 50% B The levels of service calculations assume that the vehicles turning out of the gas station are merging into the outside roundabout entry lane (not crossing lanes), and that traffic is not backed up on the frontage road to enter the roundabouts. Plaza Hotel/Gas Station I have included a level of service calculation for traffic entering/crossing the gas station traffic but it's use for prediction of actual level of service should be used with caution because the charts and formulas per the Highway Capacity Manual assume the following conditions (which may not exist). (Level of service is "A", see sheets 21, 22). 1. Traffic entering the gas station from the frontage road may hesitate or pause in order to find either an open gas pump, or determine how they drive to an open pump. 2. The capacity manual assumes the intersection is a free flowing, "r' intersection. Due to the short (35' length of driveway between the frontage road and the exit, Plaza exiting vehicles will need to identify whether an eastbound frontage road vehicle is going to pass the gas station entrance, or enter it. The level of service for the existing access from the gas station to the frontage road was calculated (sheets 17, 18) to be: Turing Movement LOS Left in D Left out* E Right out* A *Shared lane, left/right out D Since the two intersections (gas station/frontage road, Plaza Hotel/gas station) are adjacent to each other, the level of service of each one is dependent on the level of service of the other. The proposed extension of the frontage road median will improve the level of service of the existing gas station/fi-Alage road intersection, and this should improve the overall operation of both intersections. The proposed Plaza Hotel/gas station intersection is also similar in geometry and traffic movements as currently exists. Although traffic volumes existing from the Plaza Hotel will increase with the proposed conditions, the other movements remain similar, and the elimination of left turns to/from the frontage road will improve the operation of the gas station/frontage road intersection and reduce the number of potential conflicts. The drive entering the gas station was located to be near 90° and perpendicular to the frontage road to slow down vehicles entering the gas station. Recommendations/Conclusions: (also addressing comments presented during the Town of Vail PEC meeting held on 2/12/2001.) 1. South Frontage Road Access: The one-way entrance from the Frontage Road should only be used by service vehicles. Signage should be provided stating this. Section 4.3 in the State Highway Access Code discussed sight distance along the highway and at access points. Minimum/design site distance along the South Frontage Road is 150 ft. (based on 25 mph posted speed). Section 4.4 states that each access should be separated at a minimum by a distance equal to the design sight distance, in this case 150 ft. The current plan indicates that the proposed entrance (located on the westernmost portion of the property) is separated from the entrance to the Amoco service station by approximately 300 ft. and 130 ft. from the Town of Vail Municipal Center entrance (centerline distances). The existing median on the South Frontage Road should be extended approximately 100 ft. to the west to the Town of Vail building entrance. This should reduce any conflicting movements adjacent to the roundabout for vehicles traveling west and provide .for better traffic flow on South Frontage Road. The drive entering the gas station was located to be near 90° and perpendicular to the frontage road to slow down vehicles entering the gas station. It is recommended that a stop sign be placed at the point where Vail Plaza vehicles cross into the gas station exit, with an additional sign "Do No Block Intersection". Stacking and queuing area for Vail Plaza exiting vehicles would then occur on Vail Plaza property and leave the gas station entry/exit area to the frontage road open. "Do Not Enter" signs should be provided per sheet 20, as well as striping ilv jL, the Plaza exit to the frontage road to help eliminate confusion. See sheet 20. The median at the gas station/frontage road access is to be made of a different material, possibly striped, to allow trucks using the access to drive across the median. 2. Vail Access Road: The access from Vail Road should be a `one way in' driveway, used by hotel guests. This is consistent with information obtained from the PEC. Providing "one-way in" should also limit the conflicting turning movements on Vail Road if the proposed `exit-only' access is constructed adjacent to the Vail Gateway driveway. Use of this access by hotel guests only (and directing service vehicles to the Frontage Road access) should reduce "disturbance" to the Nine Vail property and address the safety concerns voiced by Alpine Standard regarding service vehicles backing up adjacent to the service station to access the loading dock area. Signage with the above should be provided. 3. West Meadow Access Points: These driveways will be closed. We also recommend that a copy of the site plan, showing the proposed access revisions, be forwarded to the owner of the Amoco service station and Town of Vail Fire Department for their review and comments. Please feel free to contact us if you have any questions or to discuss this matter further. Sincerely, ~.CO RFC` O 0. P ~ ~ pm Glenn Palmer, PE 2278, % a Enclosures goo Cc: Waldir Prado Tim Losa ~o/$ / APPENDIX Existing Condition Trip Diagram 1 Proposed Condition Trip Diagram 2 ITE Peak Hour Traffic Charts 3-9 Level of Service Definitions 10,11 Level of Service Calculations, piv.Fosed access 12-16 Level of Service Calculations, existing access 17,18 Trip Rate Schematic for gas station Entrance, Vail Plaza Exit 19 Striping Plan - Median Shape 20 Hotel Exit/Crossover thru Gas Station Level of Service 21,22 ~r v?sen &17 !at . ~CiSTiNG Co~tv~Tlotd ~ . H - M 304rf-AK 4Wf VF CWEPATO~ f OF TvfAL'T~l~S M/~KtNfr + M ovEM EpT . CaAS ~2~P MoVe A;WACENT ti,-EET/ 7-9AM, 4-6P.M. 'TOTAL hPNki moo/ ~ t 7 . ~ t te= 16 a a O~G~ Rp,4D 30% 11 21 go - 33 AAA J - w (OOy° log ~Xt St VN 6 H OTE 1V J O ~ sYo 5Yo O ! Q ptllr-H e c) Eivclel) I rA " i315 -E v r CPC--AK H'R 6F_- E~tAlv~_t) pEV -nf al l 0, TUTAL rey (of I I vl , TOWN OF VAIL MUNICIPAL CENTER - ~VZH FRpN~ 25 qo~ EX. TURN LANE 1315 \ ~ . _ . I------ -71 241 EX. AMOCO STATION 1443g I 't t .I UIill I 111 PROPO 0 1 TEL I ~ _ F11 T L0 I im -EX. DRIVEWAY , TO BE CLOSED t 1'I'Esr ~~~DD O Resort Hotel (330) Average Vehicle Trip Ends vs: Occupied Rooms On a: Weekday, P.M. Peak Hour of Generator Number of Studies: 7 Average Number of Occupied Rooms: 434 Directional Distribution: 50% entering, 50% exiting Trip Generation per Occupied Room Average Rate Range of Rates Standard Deviation 0.59 0,36 - 1.06 0.79 Data Plot and Equation 500 X 400 W . > 300 ..........y..... j X Q i F X 200 .'X. X: : 100 1 1 1 1 1 1 200 300 400 500 600 700 60o 900 X = Number of Occupied Rooms X Actual Data Points Fitted Curve Average Rate Fitted Curve Equation: T = 0.360(X) + 99.677 R2 = 0.64 Trip Generation, 6th Edition 581 Institute of Transportation Engineers Resort Hotel (330) Average Vehicle Trip Ends vs: Occupied Rooms On a: Weekday, A.M. Peak Hour of Generator Number of Studies: 7 Average Number of Occupied Rooms: 434 Directional Distribution: 63% entering, 37% exiting Trip Generation per Occupied Room Average Rate Range. of Rates Standard Deviation 0.47 0.34 - 0.67 0.70 Data Plot and Equation 400 X ' 'X to . v. 300 ' w n / / > / d X' 200 X !X X 100 1 I 1 1 1 1 200 300 400 500 600 700 800 900 X = Number of Occupied Rooms X Actual Data Pointe Fitted Curve Average Rate Fitted Curve Equation: T = 0.403(X) + 30.707 R2 = 0.73 Trip Generation, 6th Edition 580 Institute of Transportation Engineers High-Rise Residential Condom! nium/Townhouse (232) Q Average Vehicle Trip Ends vs: Dwelling Units on a: Weekday, A.M. Peak Hour of Generator Number of Studies: 7 Avg. Number of Dwelling Units: 588 Directional Distribution: 17% entering, 83% exiting Trip Generation per Dwelling Unit Average Rate Range of Rates Standard Deviation 0.344 0.23 - 0.54 0.59 Data Plot and Equation 500 400 ~X W H 300 ' . . N . . . . . . . . a~ 200 . . . . . . . . . . . . . : X ' X 100 : : : : : . X,' 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 X = Number of Dwelling Units X Actual Data Points Fitted Curve Average Rate Fitted Curve Equation: T = 0.298(X) + 25.334 R2 = 0.95 Trip Generation, 6th Edition 397 Institute of Transportation Engineers High-Rise Residential Condominium/Townhouse (232) Average Vehicle Trip Ends vs: Dwelling Units On a: Weekday, P.M. Peak Hour of Generator Number of Studies: 6 Avg. Number of Dwelling Units: 598 Directional Distribution: 68% entering, 32% exiting Trip Generation per Dwelling Unit Average Rate Range of Rates Standard Deviation 1 0.38 0.33 - 0.50 0.62 Data Plot and Equation 600 X 500 . c 400 .X. d t j 300 . : II 200 ; i . F- 100 ! 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 X = Number of Dwelling Units X Actual Data Points Fitted Curve Average Rate Fitted Curve Equation: Ln(T) = 0.843 Ln(X) + 0.073 R2 = 0.99 Trip Generation, 6th Edition 398 Institute of Transportation Engineers Gasoline/Service Station 0 (844) Average Vehicle Trip Ends vs: Vehicle Fueling Positions On a: Weekday, Peak Hour of Adjacent Street Traffic, One Hour Between 4 and 6 p.m. Number of Studies: 18 Average Vehicle Fueling Positions: 8 Directional Distribution: 51 % entering, 49% exiting Trip Generation per Vehicle Fueling Position Average Rate Ranqe of Rates Standard Deviation 14.56 5.00 - 27.33 6.70 Data Plot and Equation 220 210 200 190 180 1 . 170 : . C 160- 150 ; 140 U j 130 rn 120 j~. 110 Q 100 : 90 -t ............X . . . . . . . . 80 ...........X 70 60 50 X 40 6 7 8 9 10 11 12 X = Number of Vehicle Fueling Positions X Actual Data Points Average Rate Fitted Curve Equation: Not given R2 Trip Generation, 6th Edition 1459 Institute of Transportation Engineers Gasoline/Service Station (844) Average Vehicle Trip Ends vs: Vehicle Fueling Positions On a: Weekday, Peak Hour of Adjacent Street Traffic, One Hour Between 7 and 9 a.m. Number of Studies: 12 Average Vehicle Fueling Positions: 8 Directional Distribution: 51 %o entering, 49% exiting Trip Generation per Vehicle Fueling Position Average Rate Range of Rates Standard Deviation 12.27 7.33 - 17.50 4.36 Data Plot and Equation 150 140 130 X 120 Lu 110 H v 100 CD 90 I........l . Q 80 ...:............X.......................................:........... 70 60 50 40 i i 6 7 8 9 10 11 12 X = Number of Vehicle Fueling Positions X Actual Data Points Fitted Curve Average Rate Fitted Curve Equation: T = 9.810(X) + 18.865 R2 = 0.51 Trip Generation, 6th Edition 1458 Institute of Transportation Engineers Land Use: 493 Health Club _ Independent .Variables with One Observation The following trip generation data are for independent variables with only one observation. This information is shown in this table only; there are no related plots for these data. Users are cautioned to use these data with care because of the small sample size. Trip Size of Number Generation Independent of Indenendent Variable Rate Variable Studies Directional Distribution 1,000 Square Feet Gross Floor Area Weekday A.M. Peak 0.30 43 1 46% entering, 54% exiting Hour of Adjacent Street Traffic Weekday P.M. Peak 4.30 43 1 61 % entering, 39% exiting ..1~ _ Hour of Adjacent Street Traffic Weekday A.M. Peak, 0.30 43 1 46% entering, 54% exiting Hour of Generator Weekday P.M. Peak 4.30 43 1 61% entering, 39% exiting Hour of Generator Trip Generation, 6th Edition 789 Institute of Transportation Engineers . to DEFINITIONS AND CONCEPTS 1.3 TABLE 1-1. TYPES OF FACILITIES Capacity is defined for prevailing roadway, traffic, and control FACILITY CHAPTER conditions, which should be reasonably uniform for any section t of facility analyzed. Any change in the prevailing conditions Freeways Uninterrupted Flow Facilities will result in a change in the capacity of the facility. The der. Freeways Basic freeway segments 3 inition of capacity assumes that good weather and pavement Weaving areas 4 conditions exist. Ramps and ramp junctions.. S Freeway systems 6 1. Roadway conditions-Roadway conditions refer to the Multilane Highways 7 geometric characteristics of the street or highway, including: Two-Lane Highways 8 the type of facility and.its development environment, the number interrupted Flow Facilities of lanes (by direction), lane and shoulder widths, lateral clear- Signalized Intersections g anees, design speed, and horizontal and vertical alignments. Unsignalized Intersections (2-way STOP-YIELD-controlled 2. Traffic conditions--Traffic conditions refer to the char- approaches, 4-way STOP-controlled intersections) 10 acteristics of the traffic stream using the facility. This is defined Arterials.. 11 by the distribution of vehicle t es in the traffic stream, the Transit 12 YP Pedestrians 13 amount and distribution of traffic in available lanes of a facility, Bicycles 14 and the directional distribution of traffic. 3. Control conditions-Control conditions refer to the types and specific design of control devices and traffic regulations present on a given facility. The location, type, and timing of essary to examine points of fired interruption as well as traffic signals are critical control conditions affecting capacity. uninterrupted flow segments. Other important controls include sToP and YIELD signs, lane Pedestrian and transit flows are generally considered to be use restrictions, turn restrictions, and similar measures. interrupted. Uninterrupted flow can exist under certain circum- These and other factors affecting capacity are discussed in stances, such as in a long busway without stops or a long greater detail in a subsequent section of this phapter. pedestrian corridor. It is also important to note that capacity refers to a rate of vehicular or person flow during a specified period of interest, which is most often a peak 15-min. period. This recognizes the CAPACITY AND LEVEL-OF-SERVICE CONCEPTS potential for substantial variations in flow during an hour, and A principal objective of capacity analysis is the estimation of focuses analysis on intervals of maximum flow. the maximum amount of traffic that can be accommodated by a given facility. Capacity analysis would, however, be of limited Levels of Service utility if this were its only focus. Traffic facilities generally operate poorly at or near capacity, and facilities are rarely de- The concept of levels of service is defined as a qualitative signed or planned to operate in this range. Capacity analysis is measure describing operational conditions within a traffic also intended to estimate the maximum amount of traffic that stream, and their perception by motorists and/or passengers. can be accommodated by a facility while maintaining prescribed A level-of-service definition generally describes these conditions operational qualities. in terms of such factors as speed and travel time, freedom to Capacity analysis is, therefore, a set of procedures used to maneuver, traffic interruptions, comfort and convenience, and estimate the traffic-carrying ability of facilities over a range of safety. defined operational conditions. It provides tools for the analysis Six levels of service are defined for each type of facility for and improvement of existing facilities, and for the planning and which analysis procedures are available. They are given letter design of future facilities. designations, from A to F, with level-of-service A representing The definition of operational criteria is accomplished using the best operating conditions and level-of-service F the worst. levels of service. Ranges of operating conditions are defined for each type of facility, and are related to amounts of traffic that 1. Level-of-service defrnitiorrs-In general, the various levels of can be accommodated at each level. service are defined as follows for uninterrupted flow facilities: The following sections present and define the two principal (2)Level-of-service A represents free flow. Individual users are concepts of this manual: capacity and level of service. virtually unaffected by the presence of others in the traffic stream. Freedom to select desired speeds and to maneuver within the tragic stream is extremely high. The general level of comfort Capacity and convenience provided to the motorist, passenger, or pedes- trian is excellent. In general, the capacity of a facility is defined as the maximum Level-of-service B is in the range of stable flow, but the hourly rate at which persons or vehicles can reasonably be presence of other users in the traffic stream begins to be no- 1 expected to traverse a point or uniform section of a lane or ticeable. Freedom to select desired speeds is relatively unaf- roadway during a given time period under prevailing roadway, fected, but there is a slight decline in the freedom to maneuver ' traffic, and control conditions. within the traffic stream from LOS A. The level of comfort and The time period used in most capacity analysis is 15-min, convenience provided is somewhat less than at LOS A, because which is considered to be the shortest interval during which the presence of others in the traffic stream begins to affect stable flow exists. individual behavior. ' 11 1-4 PRINCIPLES OF CAPACITY Level-of-service C is in the range of stable flow, but marks levels of service represent a range of conditions. Because the the beginning of the range of flow in which the operation of service flow rates are defined as maximums for each level of individual users becomes significantly affected by interactions service, they effectively define flow boundaries between the var- with others in the traffic stream. The selection of speed is now ious levels of service. affected by the presence of others, and maneuvering within the traffic stream requires substantial vigilance on the part of the 3. Measures of effectiveness-For each type of facility, levels user. The general level of comfort and convenience declines of service are defined based on one or more operational param- noticeably at this level. eters which best describe operating quality for the subject facility . Level-of-service D represents high-density, but stable, flow. type. While the concept of level of service attempts to address Speed and freedom to maneuver are severely restricted, and the a wide range of operating conditions, limitations on data col- driver or pedestrian experiences a generally poor level of comfort lection and availability make it impractical to treat the full range and convenience. Small increases in traffic flow will generally of operational parameters for every type of facility. The param- cause operational problems at this level. eters selected to define levels of service for each facility type . Level-of-service E represents operating conditions at or near are called "measures of effectiveness," and represent those avail- the capacity level. All speeds are reduced to a low, but relatively able measures that best describe the quality of operation on the uniform value. Freedom to maneuver within the traffic stream subject facility type. Table 1-2 gives the measures of effectiveness is extremely difficult, and it is generally accomplished by forcing used to define levels of service for each facility type. a vehicle or pedestrian to "give way" to accommodate such Each level of service represents a range of conditions, as maneuvers. Comfort and convenience levels are extremely poor, defined by a range in the parameter(s) given in Table 1-2. Thus, and driver or pedestrian frustration is generally high. Operations a level of service is not a discrete condition, but rather a range at this level are usually unstable, because small increases in flow of conditions for which boundaries are established. or minor perturbations within the traffic stream will cause break- downs. Level-of-service F is used to define forced or breakdown TABLE 1.2. MEASURES OF EFFECTIVENESS FOR LEVEL OF SERVICE flow. This condition exists wherever the amount of traffic ap- DEFINITION proaching a point exceeds the amount which can traverse the point. Queues form behind such locations. Operations within TYPE OF FACILITY MEASURE OF EFFECTIVENESS the queue are characterized by stop-and-go waves, and they are Freeways extremely unstable. Vehicles may progress at reasonable speeds Basic freeway segments....... Density (pc/mi/In) for several hundred feet or more, then be required to stop in a Weaving areas Average travel speed (mph) cyclic fashion. Level-o17-service F is used to describe the oper- Ramp junctions Flow rates (pcph) ating conditions within the queue, as well as the point of the Multilane Highways.....,.:.... Density (pc/mi/In) breakdown. It should be noted, however, that in many cases Two-Lane Highways Percent time delay Average travel speed (mph) operating conditions of vehicles or pedestrians discharged from Signalized Intersections Average individual stopped delay the queue may be quite good. Nevertheless, it is the point at (sec/veh) which arrival flow exceeds discharge flow which causes the Unsignalized Intersections....... Reserve capacity (pcph) queue to form, and level-of-service F is an appropriate desig- Arterials Average travel speed (mph) Transit Load factor (pars/seat) nation or such points. Pedestrians Space (sq ft/ped) These definitions are general and conceptual in nature, and they apply primarily to uninterrupted flow. Levels of service for interrupted now facilities vary widely in terms of both the user's BASIC PRINCIPLES OF TRAFFIC FLOW perception of service quality and the operational variables used to describe them. Each chapter of the manual contains more Traffic Flow Measures detailed descriptions of the levels of service as defined for each facility type: The operational state of any given traffic stream is defined by three primary measures: 2. Service flow rates-The procedures of this manual attempt 1. Speed. to establish or predict the maximum rate of flow which can be 2. Volume and/or rate of flow. accommodated by various facilities at each level of service, 3. Density. except level-of-service F, for which flows are unstable. Thus, each facility has five service now rates, one for each level of 1. Speed is defined as a rate of motion expressed as distance service (A through E), defined as follows. per unit time, generally as miles per hour (mph) or kilometers The service flow rate is the maximum hourly rate at which per hour (km/h). In characterizing the speed of a traffic stream, persons or vehicles can reasonably be expected to traverse a some representative value must be used, as there is generally a point or uniform section of a lane or roadway during a given broad distribution of individual speeds that may be observed in time period under prevailing roadway, traffic, and control con- the traffic stream. For the purposes of this manual, the speed ditions while maintaining a designated level of service. As to measure used is average travel speed. This measure is used be- capacity, the service flow rate is generally taken for a 15-min cause it is easily computed from observation of individual ve- time period. hicles within the traffic stream, and because it is the most Note that service flow rates are discrete values, while the statistically relevant measure in relationships with other varia- 91 % bF Fxd-vTAE~ L?OA-/J y'~f~FFIG /~//O~T%/OELANL~ CeI697- TUk'N D.v7-OFrn1,7-A6E- ro aL I it 1 ' 1?,evi5ed 6/i /v! j / 01410f r. i , 335~e: t i y. • - - ~i. ~ ~ ~ 117 ~ ~ ` ~ `1 N z I - 1~J f z \ t Iwe,or ua oun 4w- :1 1 1 L-ft 4y 4L ..Y 1 L i I Ire/, J 'ty CC• 1 r m tI7 7vl®`451 ~ U ` to ~N7n'~ - ~ ~ • 4 ~ : ' ' Level 0 (162.5') VA Nana Dotal m West Z 0-1 R E N Vail, Colorado Scale: 1" = 50'-0" AND AMO MTU, INC. May 9, 2001 .~JO'IA ~+e Ilidr pet ~ we+r wAr.a. 13 UNSIGNALIZED INTERSECTIONS 10-37 (sus ~ fzEV F„Is/o! '~?I ~ f/~ ~YOh~IICiG LOLl4/ ~R{,FiL IN Q!i'fsfllP ~G1'NP ~r~, WORKSHEET FOR ANALYSIS OF T -INTERSECTIONS LOCATION: 665 frrA/yolt.Rc-unan,r3JT NAMF- HOURLY VOLUMES VOLUMES IN PCPH Major Street: VY/1- f~'OA/TAIoE~I~ O N VS - N=, I VSO - V2 V4 Grade V2 V, - V -9'0 - V3 N = Q 3 T V7 V9 V7 V9 I I Date of Counte• X I IiL STOP -61 Time Period: - ? YIELD I Average Running Speed: N Minor Street: PHF: Grade ~ 14 2 °/G I et I Ive,4 cle5) 4d lv04.1ami VOLUME ADJUSTMENTS Movement No. 2 3 4 5 7 9 volume (vph) 545 30 O 0 0 11Z. Vol. (pcph), see Table 10-1 0 0 157 STEP 1: RT from Minor Street r- V9 Conflicting Flow, V, 1/2 V3 + V2 = I S + _ -56Q vph (Vt9) Critical Gap, T, and Potential Capacity, cP Tc = _15- sec (Table 10-2) cP9 = pcph (Fig. 10-3) Actual Capacity, cm Cm9 - C19 = a580 pcph( STEP 2: IT From Major Street /t9F01Ait/, /(/nTV2A t V+ Conflicting Flow, Vc V3 + V2 = = vph (Vc4) Critical Gap, Tc, and Potential Capacity, cP Tc = sec (Table 10-2) cp4 = pcph (Fig. 10-3) Percent of cP Utilized and Impedance Factor (Fig. 10-5) (v4/CP4) X 100 = P4 = Actual Capacity, cm Cm4 = C,4 pcph STEP 3: IT From Minor Street 41,Ep1A/t1 I Nerae (/i _ 7)V 7 Conflicting Flow, Vc 1 /2 V3+V2+VS+V4 + - + + vph (Vc7) Critical Gap, T,, and Potential Capacity, cP Tc = sec (Table 10-2) cp7 = pcph (Fig. 10-3) Actual Capacity, cm Cm7 - CO X P4 = X = pcph SHARED-LANE CAPACITY ^ _ / v7 + /v9 if lane is shared Nof S~iQf<d ' A~/f'~r CSH M/Cm7) + M/Cm9) Movement No. v( h) cm ( h) CSH (c h) cR LOS 7 n 9 15 5 80 423 4 0 u an a ft. a m u -ter an an =off s w FELSBURG H O LT & rv ULLEVIG N N N CIO tr (Y) J 2,2 625 (Y J -z. t-:, A (overall roundabout LOS) rn > 1rZ0 1785 f- n ,~r~pr"' i 12 1315 s, A A A 3 /ah a 1 LEGEND XXX = PM Peak Hour Traffic Volumes Figure 3 rn Estimated Existing Winter Conditions X PM Peak Hour LeveloiServ(ce (March 1998) Jl.. - slop Sign North Wl Plate "*11111-04 SIM O C,2/GNT TURN ON pGeA.~TA6~ MAD)- pro 6F FXOVTA ,PotYI~ 7y2~~F1G l~/DrrT~/RELANF- 32q ~ tA) 16 t3~ 5 ` 545 T- --jL I lrtul0•a MI p /1Ji 4Y A'~ y ~ 1 V II iS l~l"1i11? co 1 V G-~i1~~~I West (i revel 0 (162.5'1 vaq l U az Scale: 1"=!;O'-V' Z 1t: 4-t R C N Vail, Colorado may 9. 2001 _ _ lT1 AND AUOMTU. INC. 1b r UNSIGNAUZED iNTERSEMON5 658 1 10~ 50°~ 0TYA~_~42gP 0GcI 4r tv! I~r1~siR ,GthQ, I 13151 WORKSHEET FOR ANALYSIS OF T -INTERSECTIONS OEV&&A91' LOCATION: _6A5 47rk/VAIL CovubA?9OVT- NAMF• HOURLY VOLUMES VOLUMES IN PCPH Major Street: 1=QoUTALE r'0 O N N = = Vs 2!L _ V V4 - Grade VZ 4 K - VZ -90 30 V3 N=M ' ' V7 V9 V7 V9 I Date of Count- 34 STOP , L5_T Tune Period• - ? YIELD Average Rupning Speed: N =Ell Minor Street: PHF- Grade % _ ~1.4 12°I° 5)Op~ ~r3 Lritles~ adJtnt~c,?~ VOLUME ADJUSTMENTS Movement No. 2 3 4 5 7 9 Volume (vph) G50 3D Q h ell Q C .!'L Vol. (pcph), see Table 10-1 u 0 .0 (5~ STEP 1: RT from Minor Street V9 Conflicting Flow, V, 1/2 V3 + V2 = 15 + 65R = 613_ vph (V'9) Critical Gap, T, and Potential Capacity, cp T, = 5,5 sec (Table 10-2) cpq = 500 pcph (Fig. 10-3) Actual Capacity, C. cm9 = cp9 = 5co pcph STEP 2: IT From Major Street V4 Conflicting Flow, Vc V3 + V2 = + = vph (Vt4) Critical Gap, T,, and Potential Capacity, cp Tc = sec (Table 10-2) cp4 pcph (Fig. 10-3) Percent of cp Utilized and Impedance Factor (Fig. 10-5) (v4/Cp4) X 100 = P4 = Actual Capacity, cm Cm4 = CO = pcph STEP 3: IT From Minor Street I V7 Conflicting Flow, Vc 1/2 V3+V2+V5+V4 = + , + _ vph (Vc7) Critical Gap, T,, and Potential Capacity, cp Tc = sec (Table 10-2) Cp7 = pcph (Fig. 10-3) Actual Capacity, cm Cm7 = Cc7 X P4 = X = pcph SHARED-LANE CAPACITY _ V 7 + v9 if lane is shared Not LS'rh gAeY ySH (V7/Cm7) + (V9/Cm9) {v O QH/l,. Movement No. v(vcph) cm ( h) c H ( h) cR LOS 7 O 9 1617 5oa 343 4 6 LEVEL vF ~e~vIGE P~ AU- MomMENCS(oitnerm) CAI I t s V NAlCEP \ C' i i Lj I !z Cw- Mf CA04T i Rm?j rr f I~ 00 Vail Plaza Hotel m West ? Level 0 0 62.51) ' Z IE HR E N AND ALSOMT13. INC. Vail, Colorado Stale: 1" = 50'-0" O Man ckn ' MI<y 9, 2001 ~ w>~~r www>~. • UNSIGNALIZED INTERSECCIGNS 10-37 WORKSHEET FOR ANALYSIS OF T -INTERSECTIONS LOCATION:. «-9 --;7-54.1041L PD1,WDA&L1r NAW- HOURLY VOLUMES VOLUMES IN PCPH Major Street- N 60 _ VS N=E] - 0 V V2[1 - V2 'CA -JJ 31- _ V3 13 j~ N =p - V3, V7 V9 V7 V9 I Date of Counts: 211 ~2 1Rf S Ivr - - Time Periorl- ? YIELD Average Running Speed- N =p Minor Street: PHF: Grade % 1' 1 A~l,.sf`kcN~ VOLUME ADJUSTMENTS Movement No. 2 3 4 5 7 1 9 Volume (vph) r 84 33 I I 12 3Z 21 50 Vol. (pcph), see Table 10-1 50 STEP 1: RT from Minor Street r'' V9 Conflicting Flow, Vc ,1/2 V3~- V2 = 16 .+(000 = 6E~ vph (VC9) Critical Gap, T, and Potential Capacity, cP T` _ -~•5 sec (Table 10-2) cp9 = -540 pcph (Fig. 10-3) Actual Capacity, cm Cm9 _ Lp9 = r PcPh STEP 2: IT From Major Street V, Conflicting Flow, V, V3 + V2 = 33 + 1 q47 =1'i$2 vph (V~') Critical Gap, T,, and Potential Capacity, cp Tc = 5.5 sec (Table 10-2) cp4 = 175 pcph (Fig. I0-3) Percent of cP Utilized and Impedance Factor (Fig. 10-5) (v4/cP4) X 100 = F'5% P, = 196 Actual Capacity, cm cm, = cP, = 115 pcph STEP 3: IT From Minor Street _D V7 Conflicting Flow, V, 1/2 V3+V2+VS+V4 = 6 + 1117 + tM + 11 = 27Q6 vph (Vc7) Critical Gap, T,, and Potential Capacity, cp T, = _7 sec (Table 10-2) cp7 = BD pcph (Fig. 10-3) Coffc hgrf Actual Capacity, cm Cm7 = cp7 X P4 = Sb X '9h =1Z_ pcph SHARED-LANE CAPACITY (~SH ( _ / v7 + v9 if lane is shared ( Le~~- oot I elllt M* ~'V7/Cm7) + (V9/Cm9) Movement No. v(pcph) cm ( h) c Hs (pcph) cR LOS -7-7 17 Z-2 5(o 9 50 X40 11 54 90 l A D. 4 I I 1-15 104 7 ~_J tA: 5 n 124 ~00/ I-L ' 5TDP; Ar?ou C t~ZE!'~EQ}piJ~ Vo HtDK D DF cc, r y f ~ CIl ems' I i 11 ' ~\~\~t~§~ i Level 0 (162.51 ~YajQ ll Oaza Hotel ~ v Scale: In = 50'-0" Vail, Colorado r Z'p Y~yspCIARS uNK. May 9.2001 ay. 30.2001 14:5GP.y: ZZ;? „ aa i gTWP1N6T - i yt b1Uk6C 1NE i;7o NPT ENT W 5 wri ~!c ~,~~oN x ILL ONE WAY p~Ewa INC - 1. ~ Npr ~ ~ . a~ 2( ASSUMPTIONS FOR LEVEL OF SERVICE Assumptions for Level of Service Calculation for the Vail Plaza exit/crossover to exit at the frontage road. 1. It is assumed that some vehicles exiting the hotel will make a right turn into the gas station (to fill up with gas). The level of service calculation assumes that all hotel exiting traffic will make a left/crossover movement to exit at the frontage road. If some hotel exiting vehicles make a right turn into the gas station, the number of left/crossover movements and conflicts will be reduced, and the capacity of the "intersection" should increase as long as the gas station traffic remains free flow. 2. Lane striping from the hotel exit to the frontage road exit be provided to help exiting hotel guests understand their direction of travel, and warn/notify vehicles entering the gas station of the traffic movement. 3. Vehicles exiting the hotel understand and obey the "Do Not Block Intersection" sign, and cars do not stack/queue south of the island adjacent to the frontage road. 4. Trucks exiting the hotel service dock do not block the intersection. 5. Gas station traffic remains free flow in front of this intersection - cars hesitating to chose an open pump bay do so beyond the (hotel exit) intersection. 6. It is assumed that many vehicles in the eastbound outside frontage road lane are making a right turn to southbound Vail Road and will have their turn signals on. Hotel traffic waiting to make the crossover may not know if the right turn signal is an indicator for making a right turn into the gas station or at the roundabout. The volume of traffic entering the gas station was increased from the 30 predicted right turns to 272 turns (50% of 545 vehicles in the eastbound outside frontage road lane which may have their right turn signals on to make the right at the roundabout and cause hotel exiting guests to hesitate. 7. The critical gap of the "left turn from minor street" was increased to 7.5 seconds from the 6.5 seconds for a stop, 2 lane, 30 mph condition on the major roadway to account for the non-typical nature of the intersection. Due to the number of non-typical situations at this intersection, it is advised that the level of service calculated be used with caution, or not used at all. 8. It is assumed that most traffic entering the gas station from the eastbound frontage road will continue eastbound through the gas station and exit to Vail Road, and visa-versa (traffic entering the gas station from Vail Road(westbound) and exits on to the frontage road). Or, if their direction of travel reverses, it is done outside the area of the hotel exit and does not impede the free flow condition at the hotel exit to the gas station. 22 , • UNSIGNALIZED INTERSECTIONS 10-37 WORKSHEET FOR A.NAT YSIS OF T INTER SECTIONS LOCATION: VA I L Pt_,4 Z-A H UTE7L Comas -C,1-/4 NAMF- HOURLY VOLUMES VOLUMES IN PCPH 4 01 Major Street (SAriq~ N ,QJ I` ? V dNF_~ VS V V,V2 V4 2 V V3 N ~ 3 % V7 V9 V7 V9 Date ow I X STOP - - Time Periori- ? YIELD Average Running Speed- 65'20 N Minor Street: kDrEL EXIT' PHF: Grade % VOLUME ADJUSTMENTS Movement No. 2 3 4 5 7 9 Volume (vph) 277 Q Q 4 3 6 1 -77 Vol. (pcph), see Table 10-1 Q-~ 6 / STEP 1: RT from Minor Street V9 Conflicting Flow, V, 1/2Vj,-rV2=_.__+ - vph(Vcq) Critical Gap, Tc , and Potential Capacity, cP Tc = , sec (Table 10-2) cP9 = pcph (Fig. 10-3) Actual Capacity, cm Cm9 - Ln9 _ r cph STEP 2: IT From Major Street f V, Conflicting Flow, Vc V3 + V2 = + - vph (Vc4) Critical Gap, Tc , and Potential Capacity, cP Tc = sec (Table 10-2) cp4 = pcph (Fig. 10-3) Percent of cP Utilized and Impedance Factor (Fig. 10-5) (v4/cp4) X 100 = P4 = Actual Capacity, c,,, Cm, = coo = pcph STEP 3: IT From Minor Street I _D V7 Conflicting Flow, Vc 1/2 V3+V2+V5+V4 = 0 +212 _4.~ + O = 315 vph (Vc7) Critical Gap, Tc, and Potential Capacity, cP Tc = -715 sec (Table 10-2) cP7 = 510 pcph (Fig. 10-3) Actual Capacity, c,,, Cm7 = cP7 X P4 = X ° 5io pcph SHARED-LANE CAPACITY ~+SH \ v7 + /v9 if lane is shared `A v7/Cm7) + (V9/C-9) Movement No. v( h) cm ( h) c H (c h) CR LOS 7 6s 512: A 9 4 EXHIBIT I APPLICANT'S STATEMENT OF THE REQUEST Z E H R E N AND ASSOCIATES, INC. May 8, 2001 Mr. Brent Wilson Town of Vail Department of Cummunity Development 75 South Frontage Road Vail, Colorado 81657 Re: Vail Plaza Hotel - West Brent: This letter is to address design criteria A through I as outlined in section 12-9A-8 of the town code. It is the applicant's understanding that these nine criteria are to be used in evaluating the merits of the creation of the new Vail Plaza Hotel-West Special Devel. y..,ent District. A. Compatibility. Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The proposed hotel is designed in such a way that is both compatible and sensitive to the immediate environment, neighborhood, and adjacent properties while at the same time giving the project an identity as a c,,......ercially viable hotel project within both the immediate neighborhood and the community at large. The predominant orientation of the proposed hotel is toward the pedestrian areas along the southern edge of the site. Public, pedestrian oriented functions including the predominant pedestrian entrance to the hotel, spa, conference facilities, retail area, and the restaurant have been located along West Meadow Drive. Additionally, this area also has the largest setbacks, greatest amount of landscaping, and lowest building heights in order to in order to relate to the existing buildings along East and West Meadow Drive, maintain a comfortable pedestrian scale, and to provide for a transition to the smaller scale residential properties to the south. In order to create this transition and buffer zone along West Meadow Drive, the greatest density and subsequent height for the hotel have been located along the South Frontage Road along the northern edge of the site. The building height in this area, although exceeding the underlying zoning, directly relates to the heights of existing and proposed structures east of Vail Road. The intent is to create a "gateway" to the village, as structures would step up to similar heights on either side of Vail Road. Other proposed buffer zones are also consistent with or exceed the underlying zoning in that they meet or exceed the minimum required property line setbacks and coverage requirements. Increased setbacks and landscaped screening have also been proposed along the eastern portions of the site to minimize the impacts of vehicular circulation on neighbors. The mass and bulk of the proposed hotel, as determined primarily by the prescribed setbacks, site coverage, landscape coverage, and gross residential floor area requirements within the town code, all conform to the underlying zoning. It is the belief of the applicant that because it is the underlying zoning which &i ,....ones the building envelope for any given site, and because the proposed project complies with these portions of the underlying zoning, it is the intent of the Vail C.,.. t,.;,hensive Plan that a hotel of this size, density, mass, and bulk is intended this site. Furthermore, the site's location, proximity, access to main thoroughfares, and prescribed uses, help to lend credence to this belief. ARCHITECTURE- PLANNING* INTERIORS- LANDSCAPE ARCHITECTURE P.O. Box 1976 • Avon, Colorado 81620 • (970) 949-0257 • FAX (970) 949-1080 Vail Plaza Hotel Zehren and Associates, Inc. 961070.00 5/8/01 The architectural design, character, and visual integrity of the proposed hotel with other structures within the community is meant to be both compatible with the immediate neighbors while at the same time relating to some of the larger, more recent hotel projects east of Vail Road. The project has been designed with stepping and broken ridge lines, variations in building materials, and varied wall and deck planes acting to break down the overall mass and bulk of the project, add pedestrian scale and interest, and relate the hotel to the surrounding neighborhood. B. Relationship: Uses, activity, and density, which provide a compatible, efficient and workable relationship with surrounding uses and activity. The uses, activities and densities are consistent with those listed within the underlying zoning. C. Parking and Loading: Compliance with the parking and loading requirements as outlined in Chapter 10 of this Title, (Zoning). The proposed parking and loading facilities are in compliance with the requirements of the zoning title, adopted town standards, and staff policy/requirements. D. Comprehensive Plan. Conformity with the applicable elements of the Vail Comprehensive Plan, Town policies and Urban Design Plan. The proposed development substantially complies with applicable goals and policies as expressed in both the Streetscape Master Plan and the Land Use Plan. The Land Use Plan identifies portions of the site as both "resort accommodation and service" and as "transition". As such, the plan recommends activities and uses consistent with the underlying zoning aimed at accommodating the overnight and short-term visitor. As such, the uses and functions are oriented in order to maintain a clear separation between the vehicular orientation of the resort acc.,.,u,.odation zone along the South Frontage Road and the pedestrian orientation of the transition zone along West Meadow Drive. The proposed improvements to the South Frontage Road, Vail Road, and West Meadow Drive conceptually comply with the applicable elements of the Streetscape Master Plan by providing improvements in the materials, configurations, and sizes as indicated in the plan. E. Natural and/or Geologic Hazards: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. We believe that there are no natural or geologic hazards that may affect the development of this site. F. Design Features: Site plan, building design, and location and open space provisions designed to produce a functional development responsive and sensitive to natural features, vegetation, and overall aesthetic quality of the community. The proposed building location, site plan, building design, and open space provide for a functional and efficient, full service, conference hotel that is both responsive to the location and circulation patterns within the town, orientation of the site, and aesthetic quality of the immediate neighborhood and the c-......anity at large. 2 Vail Plaza Hotel Zehren and Associates, Inc. 961070.00 5/8/01 Because of the proposed hotel's location within the town and proximity to the main Vail roundabout, the project's impacts on existing traffic volumes and infrastructure will be minimal. The site plan and building design further minimize impacts by simplify existing traffic patterns into one-way, right turn patterns. In addition, the site plan and building design improve upon the aesthetic quality of the immediate environment, especially with regard to the pedestrian orientation along West Meadow Drive, through the elimination of vehicular traffic, the provision for additional open space and landscaping, and provisions for public improvements and infrastructure including public plazas and artwork. G. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off-site traffic circulation. The proposed a pedestrian and vehicular traffic circulation system provides for minimal impact on existing infrastructure through the limitation of multiple turning movements and simplification of traffic patterns, while at the same time providing a safe and efficient means of circulation through an effective separation of guest vehicles on Vail Road, service vehicles on the South Frontage Road, and pedestrian systems on West meadow Drive. In addition, the proposed traffic patterns and improvements would have no impact on existing easements held by neighboring properties and would allow neighboring properties to exercise full use of their rights. Furthermore, the traffic patterns proposed for the hotel would eliminate all vehicular circulation on current easements held by the hotel across both Nine Vail Road Condominium and Alpine Standard property. H. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views, and function. The proposed landscape design provides for an effective and aesthetic buffering of vehicular circulation and service areas, for the privacy and shading requirements of private residential areas, and for pedestrian scale and interest in and along the public areas of the proposed hotel development. There currently exist no significant natural features, recreation, or functions, public views to be preserved or enhanced on, from, or over this site. I. Phasing Plan: Phasing plan or subdivision plan that will maintain a workable, functional and eff cient relationship throughout the development of the special development district. The development will be constructed in one phase. It is also the applicant's understanding that in addition to demonstrating compliance with the nine criteria above, that it is the applicant's responsibility to demonstrate that, "any adverse effects of the requested deviation from the devel. l ...ent standards of the underlying zoning are outweighed by the public benefits provided". The following is a list of the proposed deviations from adopted development standards, adverse effects, and proposed mitigation measures as proposed by the applicant as well as the perceived public benefit's derived from the project: Deviations from Develpnment Standards - Adverse effects/mitigation Measures (1)• Buildine Heiehts - Impacts from this deviation include increased shading on the South Frontage Road public right of way and impacts on views to the south from that right of way. Public and private benefits derived through implementation of this deviation include lower densities, mass, bulk, and building heights along West Meadow Drive. Proposed mitigation measures include snowmelt systems, retention and addition of large trees and landscaping features including berms within the right of way, and enhancement of primary pedestrian areas along West Meadow Drive including provisions for increased setbacks and landscaping coverage. 3 Vail Plaza Hotel Zehren and Associates, Inc. 961070.00 5/8/01 Setback Deviations to be Reviewed in Accordance with Criteria Identified in 12-7A-6. (21 • Below Grade Setbacks - No adverse impacts occur from this deviation. Public and private benefits derived from this deviation include increased area of landscaping coverage, and an increase in the amount of full size parking spaces provided. • Porte-Cochere Setbacks - No adverse impacts occur from this deviation. Public and private benefits derived from this deviation include increased weather protection at entry areas, screening of vehicular and service areas, architecturally identify primary and secondary building entries, and add visual interest within elevations. Public Benefits Provided- General (21) • Implementation of applicable goals, objectives, and policies as outlined in Vail Cu...F.ehensive Plans. • Economic redevelopment of an aging hotel property. • Improved residential character in the design of the structure. • Increase in number of short-term accommodation units. • Increase in size and quality of short-term acc....,...odation units. • Increase in size and quality of conference facilities. • Increase in size and quality of restaurant facilities. • Increase in size and quality of retail facilities. • Increase in size and quality of spa and health club facilities. • Elimination of surface parking. • Elimination of vehicular traffic on West Meadow Drive. • Elimination of vehicular maneuvering on within the town's right of way. • Elimination of a surface loading dock within a front setback. • Improved vehicular safety through decrease in turning movements. • Improved vehicular safety through implementation of one-way traffic patterns. • L..F..red pedestrian safety through provision of grade separated sidewalks. • Elimination of existing setback encroachments. • Elimination of existing landscaping deficiency (developments standards). • Increase in amount and quality of landscaping. • Potential increase in year round guest occupancy. • Potential increase in hotel, resort, and town marketing and resources. Public Benefits Provided - Potential Economic Benefits (4) • Potential increase in recurring revenues (property taxes, lift taxes, franchise fees, business licenses, etc.). • Potential increase in recurring sales tax revenues (town and county). • Increase in non-recurring building permit revenues. • Increase in non-recurring real estate tax revenues. Public Benefits Provided - Development Standards (9) • Provision of setbacks in excess of development standards. • Provision of landscaping in excess of development standards. • Provision of open space in excess of development standards. • Provision of on site, deed restricted employee-housing units in excess of development standards (number of units). • Provision of on site, deed restricted employee-housing units in excess of development standards (size). • Provision of densities below prescribed development standards. • Provision of uses consistent with prescribed development standards. • Provision of parking in excess of prescribed development standards. • Provision of loading facilities consistent with development standards. 4 Vail Plaza Hotel Zehren and Associates, Inc. 961070.00 5/8/01 Direct Economic Benefits - Public Infrastructure (5) • Construction of public infrastructure with private money on West Meadow Drive including sidewalks, roads, medians, plazas, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities. • Construction of public infrastructure with private money on the South Frontage Road including sidewalks, roads, medians, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities. • Construction of public infrastructure with private money on Vail Road including sidewalks, roads, medians, lighting, landscape, hardscape, snowmelt, curb and gutter, and drainage facilities. • Potential improvements and provision of easements for Spraddle Creek infrastructure. • Provision of public art in compliance with development standards. Public Benefits Provided -Direct Benefits to Nei hborin Prpnerties (10) • Elimination of adjacent surface parking lot, (all neighbors). • Increase in adjacent landscaped buffering, (all neighbors). • Improved residential character of the proposed hotel, (all neighbors). • Physical improvements to Vail Road parking easement, (Nine Vail Road Condominium). • Continued access to Vail Road parking easement, (Nine Vail Road Condominium). • Elimination of adjacent loading dock and traffic conflicts, (Nine Vail Road Condominium). • Potential increase in landscape coverage, (Nine Vail Road Condominium). • Increased setbacks adjacent to property, (Nine Vail Road Condominium). • Increase solar access, (Nine Vail Road Condominium). • Improved view corridors to south, (Nine Vail Road Condominium, Scorpio Condominium). Please do not hesitate to contact me with any questions or concerns regarding the information presented. Additionally, if you need any additional information, please do not hesitate to contact me. Sincerely, I -AWA Timothy R. Losa., A.I.A Senior Associate Zehren and Associates, Inc. 5 EXHIBIT J APPLICANT'S MASS STUDY i E H R E N A AND ASSOCIATES, INC. Vail Plaza Hotel - Vest Mass Study nnexroAe •iwuc.xe~ucxneeruec Vail, Colorado June 13, 2001 r ORDINANCE NO. 12 SERIES OF 2001 AN ORDINANCE CREATING A JUVENILE CURFEW AND SPECIAL EVENT DISTRICT TWO NIGHTS PER YEAR WHEREAS, unsupervised juveniles are a consistent and growing problem on the Fourth of July and New Year's Eve each year; and WHEREAS, there are presently no Town of Vail regulations limiting the hours such juveniles may remain unsupervised in public; and WHEREAS, the Vail Town Council desires to adopt regulations in the interest of maintaining the public peace and order during these two holiday celebrations. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL THE TOWN OF VAIL, COLORADO that: Section 1. TITLE 6, POLICE REGULATIONS, is hereby amended to include CHAPTER 5, SPECIAL EVENT DESIGNATIONS, as follows: 6-5-1: Intent 6-5-2: Juvenile Curfew 6-5-1 INTENT: It is the intent of the Vail Town Council in adopting these holiday-specific regulations, to establish strict control of access to certain parts of the Town by underage youth and to curtail the growing number of unsupervised juveniles who descend on Vail Village at these times. In the interest of public safety, the goals of the Council are to: A. Protect citizens from the physical injury and harm due to excessively large crowds B. Reduce juvenile violence and crime within the town during these events C. Protect juveniles from being swept up in unlawful activities and from falling prey to older perpetrators of crime D. Strengthen parental responsibility for children r 6-5-2 JUVENILE CURFEW: A. It is unlawful for any person under eighteen years of age to be or remain upon any public street, sidewalk, alley, parking lot or any public place or right of way between ten-thirty o'clock (10:30) P.M. on July 4 and five o'clock (5:00) A.M. on July 5, and between ten-thirty o'clock (10:30) P.M. on December 31 and five o'clock (5:00) A.M. on January 1 of every year, except as provided in subsection ' B' of this section. B. In the following exceptional cases, a person under eighteen years of age may be or remain in a public place beyond the hours set forth in subsection 'A' of this section: 1. When accompanied by a parent or legal guardian; 2. When conducting a legitimate errand for a parent or guardian, and with written authorization from that parent or guardian; 3. When commuting between the person's place of employment and legal residence. 4. When returning to the person's temporary or permanent residence from events such as movies, theater, or sporting events. 5. When involved in an emergency, referring to unforeseen circumstances, or the status or condition resulting therefrom, requiring immediate action to safeguard life, limb or property. 6. When exercising First Amendment rights under the United States Constitution, such as the free exercise of religion, speech and assembly. C. A police officer who has probable cause to believe that a person is in violation of this section may take him or her into custody and either immediately contact the person's parent or guardian, or turn the person over to the custody of the designated juvenile authorities until a parent or guardian can take custody of the juvenile. Section 2. 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 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 3. The repeal or the repeal and reenactment 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 4. 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 5th day of June, 2001, at 7:00 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Ludwig Kure, Mayor ATTEST: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 19th day of June, 2001 Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson, Town Clerk V ORDINANCE NO. 13 SERIES OF 2001 AN ORDINANCE AMENDING THE TOWN CODE, TITLE 6, CHAPTER 3, ARTICLE C TO ALLOW FOR CORRECTIONS TO THE CLOSED CONTAINER BOUNDARY AREA. WHEREAS, the Town Council is implementing a juvenile curfew and special event district for the Fourth of July and New Year's Eve each year; and WHEREAS, the boundary lines between the current closed container ordinance and the special event district should be consistent with the exception of the north boundary (for purposes of seizing alcohol inside the Village Parking Structure); and WHEREAS, the Vail Town Council considers it in the interest of the public health, safety, and welfare to adopt these amendments to the Town Code. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL THE TOWN OF VAIL, COLORADO that: Section 1. The purpose of this ordinance is to amend the Town Code to clarify certain unclear sections and create consistency between the closed container area and the special event district. (Text that is to be deleted is stfieken. Text th at is to be added is underlined.) Section 2. Section 6-3C-4 is amended as follows: 6-3C-4B Closed Containers Prohibited: Affected areas: No person shall possess any malt, vinous, or spirituous liquor or fermented malt beverage in or upon any public highway, street, alley, walk, parking lot or any other public property or place or in or upon those portions of any private property upon which the public has an expressed or implied license to enter or remain within the area bounded by_ shuttle °_-'-'s Pls-c tc `.he-AeFth, fhe4ep-e gFidff£ Straet-tc the south, IAW-GFeek4c tha-sr-_yt and-the CW&e a's Faun`ain is fhs-west Vail Transportation CenterNillace Parkino Structure to the north The south edoe of Seibert Circle to the South, Mill Creek to the east The eastern curb line of Willow Bridge Road from Gore Creek Drive through the International Bridae r r' The affected area is inclusive of Wall Street from Gore Creek Drive throuah One Vail Place and the Gore Creek Promenade from Willow Bridae Road throuah the Children's Fountain between six o'clock (6:00) P.M. and six o'clock (6:00) A.M., from June 30 through July 5, and between six o'clock (6:00) P.M. on December 31 and six o'clock (6:00) A.M. of January 1 of each year. Section 2. 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 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 3. 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 4. The amendment of any provision of the Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 5. 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 5th day of June, 2001, at 7:00 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. V Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 19th day of June, 2001 Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson, Town Clerk I MEMORANDUM TO: Vail Town Council FROM: Bob McLaurin, Town Manager RE: Town Manager's Report DATE: June 19, 2001 Creekside Emalovee Housina The water system at the Creekside employee housing project on the North Frontage Road is currently experiencing problems, and is in the process of failing completely. As you will recall, when we purchased this property, the domestic water is provided by a private well and a water system which serves each of the units. Due to the age and lack of maintenance of this system, the system is failing. Water service has been out off and on over the past week. We have the system working again. The long term solution to this problem is to connect to the Upper Eagle Valley water system. We are currently working to develop the cost for this. In addition to the cost of physically connecting the buildings, we will be required to pay water capacity fees to the district. I will advise you when we have determined these costs. Whitewater Chamnionshia Bid As indicated at the Council meeting on Tuesday, I will be traveling with members of the Tourism and Convention Bureau to Spain to bid on the 2003 Kayak Championships. I anticipate being out of the office 3 or 4 days. The meeting with the Federation is scheduled for June 29tH Eaale Cotin"eaional Transoortation Authority Council Aooointments Greg Moffet has officially resigned as "alternate" to Kevin Foley for this committee appointment. Would Council like to appoint another alternate? UPCOMING ITEMS: June 26 Work Session Neighborhood Walkabout /Picnic - Booth Falls Joint Work Session with VRD Board Work session on the Gateway Building proposal Bighorn Park - Dog Park DRB/PEC Report July 3. 2001 Work Session and Evenina Meetinq Cancelled (4th of July) JUIv 10th Work Session VMS discussion of proposed joint use of Booth Fails tennis courts as a soccer field. PEC Report JUIv 10th Evenina Meetinq Approval of June 5th and 19th minutes Vail Plaza Hotel West, Ord. #14, second reading Supplemental Ordinance, 1St reading Executive Session - Land Acquisitions 1 u ~y 'OWN OF PAIL Department of Community Development 75 South Frontage Road ~6 Tv LGvS D~ S Vail, Colorado 81657 V~U~ yfS,~G'~ FAX 970-479-2452 www. ci. vail. co. us l `J December 27, 2000 Dear, The Town of Vail is working to ensure that our town is a livable, sustainable community, while being recognized as a resort of the highest quality. To this end, creating and maintaining local's housing within town boundaries is one of our top priorities. Your help in alleviating our housing needs by providing or owner-occupying an employee housing unit is appreciated. The enforcement of existing employee housing deed restrictions has been identified as an area of concern by many in our community. Therefore, the goal of the Town of Vail is to ensure that all of our existing employee housing units are being utilized in a manner consistent with the intent of their deed restrictions. Your response will help us to understand the effectiveness of our current housing programs. Please complete and return to: Kris Friel Community Development 75 South Frontage Road Vail, CO 81657 We are requesting that forms be sent by February 1St, 2001. Should you have any questions, please feel free to call Kris at (970) 479.2454. Thank you for your cooperation. Sincerely, Robert W. McLaurin Town Manager Enclosure RECYCLED PAPER f IOWNOFVAIL Department of Community Development 75 South Frontage Road Vail, Colorado 81657ziY ~u>Vl2VS 1. L1 S 970-479-2138 FAX 970-479-2452 Ye u i ~tS ~eriA` www. ci. vail. co. us ~--pJA December 27, 2000 `J Dear, The Town of Vail is working to ensure that our town is a livable, sustainable community, while being recognized as a resort of the highest quality. To this end, creating and maintaining local's housing within town boundaries is one of our top priorities. Your help in alleviating our housing needs by providing or owner-occupying an employee housing unit is appreciated. The enforcement of existing employee housing deed restrictions has been identified as an area of concern by many in our community. Therefore, the goal of the Town of Vail is to ensure that all of our existing employee housing units are being utilized in a manner consistent with the intent of their deed restrictions. The deed restriction attached to your property includes this paragraph, or one similar: "No later that February 1 of each year, the owner of each employee housing unit within the Town ...shall submit two (2) copies of a report of a form to be obtained from the Community Development Department, to the Community Development Department of the Town of Vail ...setting forth evidence establishing that each tenant who resides within their employee housing unit is a full- time employee in Eagle County." Please complete, have notarized, and return the enclosed form to: Kris Friel Community Development 75 South Frontage Road Vail, CO 81657 no later than February 1, 2000. Should you have any questions, please feel free to call Kris at (970) 479.2454. Thank you for your cooperation. Sincerely, Robert W. McLaurin Town Manager Enclosure ? RECYCLED PAPER L, •1 q. bl ~tcs JUN-19-2001 17: 29 JACOBS CHASE Fd F. 02/04 Lon 1V,1Goellentine 28 South )Frontage Road Vail, Colorado 81657 970-476-5118 June 19, 2001 Via Facsimile (970) 479-24,52 Vail Town Council c/o Brent Nilson, ,A.I.CP 75 South Frontage Road Vail, Colorado 81657 Re: Vail Plaza Hotel - West Dear Council Members: As you know, my family owns and operates the Vail Alpine Standard gasoline station. The purpose of this letter is to recommend the Vail Town Council postpone approval of the pending application for a Special Development District for the Vail Plaza Hotel-West until certain traffic circulation problems are resolved. The proposed hotel project is unacceptable for the following reasons. The hotel's traffic plan eliminates my egress easement onto Vail Road, which will severely impacts the economic feasibility of the redevelopment project planned for my property. • The planned exit from the hotel will reduce Alpine Standards business by unnecessarily creating significant traffic congestion at the station's South Frontage Road entrance. • The hotel plan assumes 1 will grant additional easement rights to the 9 Vail Road project to facilitate the hotel project, despite the fact the hotel will have a devastating impact on xny property and business. Violation of Easement Risrhts and Devaluing of My Proricil- . My family acquired the Alpine Standard property, approximately 18 months ago, based heavily upon our plans to redevelop the property into a mixed-use project, that would be a sorely needed signature building for the main entrance to the Town. The economic viability of this project is dependant upon including and selling residential units in this project. The project will 00097641. W FO 3 J11•1-19-2001 13:29 JA:OBS CHASE Fi P. 03/C14 Brent Wilson, A1CP Tune 19, 2001 Page 2 include a 10-12 residential unit component oriented toward Vail Mountain that would feel separated from the gas station (which faces the other direction). This vital separation is entirely dependant upon the residents' ability to use an ingress and egress easement, which I acquired ,Arith the property. This easement, which is referred to as the "South Easement". is located on the hotel property, immediately South of the Alpine Standard parcel. The current hotel proposal allows only ingress over the South Easement and thereby denies my legal rights of egress. Unless the residents are allowed to use these egress rights to exit onto Vail Road, the residents will be forced to exit by the gas station, and thereby destroy the separation of the residential component and the gas station that is critical to the success of this project and the value of my property. The hotel plans should be modified to permit residents from my redevelopment project to exit onto Vail Road pursuant my legal easement rights. The architectural fine l have engaged, Fritzlen Pierce Architects, is currently refining the site plan for my redevelopment project, which should be submitted to the Town for approval within the next four to six weeks. This plan includes a consolidated circulation plan that both.: (a) provides for hotel traffic to circulate in the manner proposed by the hotel developer and (b) also permits the minimal residential traffic created by my project to exit onto Vail Road. This circulation plan is enclosed with this letter for your review. Conizested Traffic at the Entrance to Alpine Standard. The current hotel proposal will create undue congestion at Alpine Standard's primary entrance. Under the current proposal, every car and truck on the hotel site must exit to South Frontage Road over Alpine Standard's property all other exits previously used by the current Chateau. Unfortunately, this proposed hotel exit is the primary ingress and egress route to and from Alpine Standard. The volume of cars, delivery trucks and all other vehicles leaving the hotel will cause substantial conflicts with traffic attempting to enter and exit Alpine Standard. This frustrated traffic flow will adversely impact the ongoing business of Alpine Standard. Arsine Standard Asked to Grant Easement Rights for Hotel Developer_ The cuurent hotel proposal assumes 1 will grant easement rights for the benefit of the 9 Vail Road Project (thereby allowing the hotel project to go forward), irrespective of the fact that i will suffer substantial detrimental impacts on the traffic flow into my business and on the value of my property. ooov?bai.WPD 3 JUN-19-2001 1]3:30 JACOB'S CHASE Fi P.04 24 Brent Wilson, AICP June 19, 2001 Page 3 Surnmarv. 1 desire to support the hotel, but not if I must completely carry the burden for this very large project and suffer adverse impacts to my business, property and redevelopment. In summary, the current hotel proposal; • effectively eliminates my legal egress easement rights onto Vail Road, with a devastating effect on the economic feasibility of my redevelopment project; • creates significant traffic congestion at the gas station's main entrance on South Frontage Road thereby pushing my customers elsewhere; and • wrongfully assumes t will voluntarily grant additional easement rights to the 9 Vail Road. My objective is simple and clear - that is, to build a signature building at the entrance to Vail that is a sorely needed - a building that will be representative of Vail's unique qualities and spirit. Please do not extinguish the viability of these plans . T received the current hotel traffic plan only eight days ago. Although I believe a traffic plan compatible to both the hotel and my properties can be developed, eight days is not enough time to work through these issues. T request the Town Council postpone its decision on the hotel project to (a) allow time for modifications to the hotel plans to alleviate the hardships being placed upon my business, (b) alleviate the detrimental effect on my property value and viability of my redevelopment caused by the hotel as proposed, (c) rectify the unrealistic assumption that I will grant an easement to 9 Vail Road and thereby permit these problems to occur; and (d) avoid forcing me to seek to judicial remedies to enforce my easement rights on the South Easement. Best regards, Lon Moellentine cc: Mr. Bill Pierce (via facsimile 970-476-4901) Mr. Robert Detrick (via facsimile 303-685-4869) 00097641,WPD 3 f 4 '~~rfyj1' 4 _r ~s the Vail Center A Community Crossroads Where Learning, Recreation & Culture Meet i fit. Y 1. i' a..,r. Purpose Request direction from Council on IFA Programmatic Uses 8, A K Objectives ,k A 1) The facilities plan will build upon the community facility ideas r and lands that have been identified through the Vail Tomorrow, t _ Common Ground, Lionshead master plan, and other community ` processes p 2) The facilities programming will complement both recreational (e.g., skiing and mountain sports) and cultural (e.g., art, performing arts) amenities that exist in the Vail Valley so as to create a world class network of community facilities in the Valley. 3) The facilities shall be outstanding in their design and programming. Potential residents and guests would be drawn to Vail because of them. These should be unique facilities. 4 The facilities will serve both Vail Valley residents and guests. ~x` 5) Public-private partnerships will be pursued to finance the yr development of the facilities. 6) Increase our economic Viability What is the Vail Center? » A t 'w ' *A Community Crossroads *A Gathering Place *A Civic Center for Culture, Recreation and Conferences & Learning r~ t t i: i Y• What is the Learning Center? k a ' N f.a L x=J Unique place for special learning inspired by the mountains... v• ~j~rfV A Made-up of numerous smaller spaces... Will attract people with interesting programs on topics or issues we care about Comparables: Aspen Institute, Banff Center, Santa tY . Fe, Davos S N .k Fxamples of Learning Center Users.. . 4 UN RoundTable on Sustainability (Mountain Stewardship) xY Centers for...Leadership, Health & Wellness, r . Philanthropy, Global Studies Partnerships with University of Denver, University of 1 Colorado, Smithsonian Institution f.. Other Centers where interest and passion emerge Might spawn a "University of the Mountains" T1- Project Components a Learnina Center Expansion Arts Center 18,000 feet 1300 seat Theater . >',;J} 11 smaller rooms of various sizes Benefits Builds year-round economy >x Benefits Enhances guest and resident experience Builds year-round economy Enhances guest and resident experience Conference & Learning CeenteT Recreation Center, 20,000 foot Ballroom 2nd Sheet of Ice (2) 5,000 foot breakout rooms SkatePark 1,000 foot Boardroom Youth Center 200 seat Auditorium Benefits Benefits Enhances guest and. resident experience Builds year-round economy : Enhances guest and resident experience ,JAq~X a _ _ i4 it on l: arkiri rcs a 1. : ' u'h`f-,?. Decisions ? Proarams Description of Proarams and Use Yes/No ?ybJA, Conference & 20,000 square foot baII.L. oomwith -rs--- Learning Center with two 5,000 square foot break out rooms " and one 1,000 square foot boardroom with a 4,000 square foot auditorium Recreation Center G ~ Climbing Wall 2 i Sheet of Ice Enclosed Skate Park Youth Center _ Arts Center G G Reserve future site for a 1,300' seat performing arts facility Learning Center o-A Phasing in additional breakout/learning center Expansionspace utilizing the Library and space currently ~L4 on the 2"d floor of the conference facility. This space includes a 1200 square foot planning room, 2500 sq. ft. dialogue room, 1000 sq. ft. f.::.. class room, 2°d 400 square foot boardroom, 1000 square. foot reading room, 3000 square foot learning studio,-3000-square..foot-•1earnirtg M{' studio, 1000 sq. ft. business center, and a 1000 square foot technology center. l~s OtA Memorandum To: Vail Town Council From: Bill Gibson, Planner I, Community Development Department Date: June 19, 2001 Re: Town of Vail Development Standards pertaining to allowable building materials. REQUEST Provide staff direction to include in their work plan an evaluation and possible revisions to the Town of Vail Development Standards pertaining to allowable building materials. BACKGROUND RATIONALE: The Town of Vail Development Standards require the use of predominantly natural building materials on all buildings within the Town. Many natural materials such a wood siding and wood shakes have low fire resistance ratings and under certain circumstances do not conform with the requirements of the Uniform Building Code and the Uniform Fire Code. Synthetic building materials that have been designed to look like natural materials are now widely available. Many of these products are less expensive, provide greater fire resistance, and require less maintenance than natural materials. For these reasons, the Town has been receiving an increasing number of Design Review applications proposing the use synthetic building materials as an alternative to natural materials. Staff and the Design Review Board have a strong interest in evaluating the use of synthetic building materials as a means of preserving the intent of the Town's Development Standards while addressing the life safety concerns of the Uniform Building and Fire Codes. RECOMMENDATION: As staff is requesting direction from the Town Council, there is no staff recommendation at this time. Excerpt from the Town of Vail Development Standards Handbook: • "Purpose and Intent: It is the purpose of these rules, regulations, and standards to ensure the general health, safety, and welfare of the communitv. These rules, regulations, and standards are intended to ensure safe and efficient development within the Town of Vail for pedestrians, vehicular traffic, emergency response traffic, and the community at large. The Development Standards will help protect eroverty values. ensure the aesthetic aualitv of the community and ensure adequate development ofvroverty within the Town of Vail. " • 10-A. General Compatibility: 1. Structures shall be compatible with existing structures, their surroundings. and with Vail's environment. It is not to be inferred that buildings must look alike to be compatible. Compatibility can be achieved through the proper consideration of scale, proportions, site planning, landscaping, materials and colors, and compliance with the guidelines herein contained. • 10-D. Building Materials and Design: 1. Building materials shall be predominantly natural such as wood siding. wood shakes, and native stone. Brick is acceptable. Where stucco is utilized, gross textures and surface features that appear to imitate other materials shall be avoided. Concrete surfaces shall be treated with texture and color if used, however, exposed aggregate is more acceptable than raw concrete. Neither aluminum. steel. nor elastic siding, nor simulated stone or brick shall be permitted. Plvwood siding shall not be vermitted. 3. Exterior wall colors should be compatible with the site and surrounding buildings. Natural colors (earth tones found within the Vail area) should be utilized. Primary colors or other bright colors should be used only as accents and then sparingly such as upon trim or railings. All exterior wall materials must be continued down to finished grade thereby eliminating unfinished foundation walls. All exposed metal flashing, trim, flues, and roof top mechanical equipment shall be anodized, painted or capable of weathering so as to be non-reflective. 6. Roof surfacing materials shall be compatible with the site and surrounding buildings. The use of wood shakes and metal roofs is acceptable. however in no instance will metal roofs which reflect direct sunlight onto an adjacent property be permitted. If metal roofs are used they shall be surfaced with a low-gloss finish or capable of weathering to a dull finish. Metal roofs shall generally have a standing seam in order to provide some relief to the roof surface and be of a heavy gauge. Asvhalt and fiberglass shingles shall be vermitted provided that they weigh no less than three hundred (300) pounds per roofing square foot and are of a design and color to be compatible with the requirements of this Section. Excerpt from the Vail Village Master Plan: • Goal #1 Encourage high aualitv redevelopment while preserving the unioue architectural scale of the Village in order to sustain its sense of community and identity. 1.1 Objective: Implement a consistent Development Review Process to reinforce the character of the Village. 1.2 Objective: Encourage the upgrading and redevelopment of residential and commercial facilities. • Goal #2 To foster a strong tourist industry and promote year-round economic health and viabilityfor the Village and for the community as a whole. 2.1 Objective: Recognize the variety of land uses found in the 10 sub-areas throughout the Village and allow for development that is compatible with these established land use patterns. 2. 1.1 Policy: The zoning code and development review criteria shall be consistent with the overall goals and obiectives of the Vail Village Master Plan. 2.5 Objective: Encourage the continued upgrading. renovation and maintenance of existing lodging and commercial facilities to better serve the needs of our guests. 2.5.2 Policy: The Town will use the maximum flexibility possible in the interpretation of building and fire codes in order to facilitate building renovations without compromising life, health and safety considerations. • Goal #6 To insure the continued improvement of the vital operational elements of the Village. 6.2 Objective: Provide for the safe and efficient functions of fire. police and public utilities within the context of an aesthetically pleasing resort setting. Excerpts from the Lionshead Redevelopment Master Plan: • 8.4.4. Exterior Walls Materials (General) As mentioned earlier, building materials should be carefully selected to recall the heritage of our alpine antecedents, yet lookforward to the vision of Lionshead as a modern resort community. The specific requirements and limited palette of major building materials described herein are intended to reinforce the visual harmony envisioned for the community and act as additional unifying thread for the resort. Materials used at primary building elements-defined as those which exceed 500 square feet (SF) in wall surface area-shall recall and relate to the indigenous materials of the area and enhance the sense of our Colorado mountain resort heritage. They are described below according to their most appropriate locations within the tripartite order of individual structures. Secondary building elements, or those which cover an area of 500 SF or less, may be comprised of varying materials to add design flexibility, encourage individual expression, and enhance visual interest. They are not specifically listed within these Guidelines, but may include materials such as vainted steel, canvas and similar textiles, colored unit masonrv. and the like. Within this framework, creative use of materials is encouraged, but patchwork" designs of inconsistent material locations or patterns should be avoided. All secondary building elements will be approved at the discretion of the reviewing body. Base Materials Materials selected for the bases of buildings must balance the transparency required at retail shopfronts with the strong, anchoring elements needed to tie buildings to their sites. That is, they must successfully integrate the notions of mass wall and frame wall. In addition, they should offer both large- and small-scale texture at the ground plane, to add varying levels of interest and heighten the pedestrian experience. With this in mind, building bases shall be primarily constructed of individual pieces or unit materials such as stone veneer. When using stone, veneers should be selected which lend authenticity to mass walls-thin veneers or those which avvear as mere surface avvliaue should be avoided. Battering may be used as an additional-but optional--,design tool to visually strengthen the bases of structures. As mentioned earlier, secondary elements within building bases may incorporate accent materials, but these materials should be carefully selected to act in concert with the rest of the architecture. Shopfronts and other special street-level amenities have the most latitude with respect to material selection, but can be very successful if constructed of hand-crafted, durable materials. These types of materials can hold uv to the careful scrutinv of the street-level observer. along with the physical abuse common to public ways. Acceptable accent materials include-but are not limited to-wood, wrought iron. forged or formed metals. and etched glass. Middle Wall Materials The middles of buildings shall be constructed of neutral field materials such as true stucco. EIFS. or wood. These types of materials help to establish the "quiet" or "background" vertical surfaces necessary at the major wall planes which typically make up the bulk of structures. In addition, they offer an interesting difference between the dynamic nature of building bases and the more repetitive, subtle patterns of building walls above street level. Materials such as stucco should be designed as an expression of mass, rather than infill between structural members. Where building walls meet roofs, materials which successfully integrate the tops of buildings to their middles, such as wood in the form of brackets. rafter tails, and the like, are most effective. • 8.4.4. Roofs Materials and Colors Primary roofs shall be covered with a limited palette of unit materials to present a coherent image for Lionshead. Approved materials for primary roofs include-but are not limited to-metal shingles, cementitious shingles. concrete tiles, wood shakes or shinales. and high-ouality asphalt shingles which offer acceptable colors and depth. Metal shingles may be of copper (16 oz/SF minimum weight), terne metal, or other materials with natural patina. Secondary roofs may be covered with metal panels, in corrugated, rolled, or standing seam profiles. Primary roofs shall be in neutral, earth-tone colors, with brown or gray tones-bright colors or reflective materials are not permitted. Roofs may incorporate blends to achieve desired colors-on-site mock-ups are required when blends are proposed. At retail levels, accent colors are permitted for secondary roofs to add vitality to the streetscape. Changes in roof materials or colors shall take place in logical locations, such as changes in pitch or changes in plane. LANGUAGE FOR SHARED LOADING/DELIVERY FACILITIES ¦ That the Developer provides a centralized loading/delivery facility for the use of all owners and tenants within Special Development District No. 36. Access or use of the facility shall not be unduly restricted for Special Development District No. 36. The loading/delivery facility, including docks, berths, freight elevators, service corridors, etc., may be made available for public and/or private loading/delivery programs, sanctioned by the Town of Vail, to mitigate loading/delivery impacts upon the Vail Village loading/delivery system. The use of the facility shall only be permitted upon a finding by the Town of Vail and the Developer that excess capacity exists. The Developer will be compensated by the Town of Vail and/or others for the common use of the facility. The final determination of the use of the facility shall be mutually agreed upon by the Developer and the Town of Vail.