HomeMy WebLinkAbout2002-10-01 Support Documentation Town Council Work SessionVAIL TOWN COUNCIL
WORK SESSION
Tuesday, October 1, 2002
8:15 A.M.
(A Continental Breakfast will be available for the Council at 8:00 A.M.)
8:15 A.M. The Vail Town Council, sitting as the Vail Local Marketing
District Board of Directors.
A. Resolution No. 1
A RESOLUTION DESIGNATING THE FOLLOWING
AS SIGNERS: ROBERT MCLAURIN, PAMELA A.
BRANDMEYER, AND JUDY CAMP ON THE FIRST
BANK ACCOUNT FOR THE VAIL LOCAL
MARKETING DISTRICT PERMITTED BY THE
CHARTER OF THE DISTRICT, ITS ORDINANCES,
AND THE STATUTES OF THE STATE OF
COLORADO.
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1. ITEM/TOPIC: 2003 BUDGET WORK SESSION
Bob McLaurin Town Manager's Overview (30 min.)
Russ Forrest
Steve Thompson
2. Revenues (15 min.)
3. Mill Levy (1 hour)
- Discussion of Critical Needs
- Discussion of Projects Funded by 4 Mill Increase
4.
Bob McLaurin
Steve Thompson
5. (12:15 P.M.)
Pam Brandmeyer
Bob McLaurin
Steve Thompson
6.
Bob McLaurin
Steve Thompson
7
8.
Capital Projects Planning Document (2 hours)
Working Lunch at Noon
Council Contributions (1 hour)
Operating Reductions (2 hours)
Information Update. (5 min.)
Matters from Mayor and Council. (5 min.)
9. Executive Session - (1 hour)
Property Acquisition (C.R.S. 24-6-402(4)(a)
Legal Matters (C.R.S.24-6-402(4)(b)
Negotiations (C.R.S.24-6-402(4)(e)
4. Adjournment. (5:00 P.M.)
F: mcaster/agenda/worksess ion/2002/ 100102
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, OCTOBER 15, 2002, BEGINNING AT 2:00 P.M. IN
THE TOV COUNCIL CHAMBERS.
THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING
WILL BE ON TUESDAY, OCTOBER 15, 2002, 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.
F:mcaster/agenda/worksession/2002/ 100102
RESOLUTION NO.1
Series of 2002
A RESOLUTION DESIGNATING THE FOLLOWING AS SIGNERS:
ROBERT MCLAURIN, PAMELA A. BRANDMEYER, AND JUDY CAMP
ON THE FIRST BANK ACCOUNT FOR THE VAIL LOCAL MARKETING
DISTRICT PERMITITTED BY THE CHARTER OF THE DISTRICT, ITS
ORDINANCES, AND THE STATUTES OF THE STATE OF COLORADO.
WHEREAS, the District has the power to designate banks or financial institutions
for funds of the District; and
WHEREAS, the District wishes to designate Robert McLaurin, Pamela A.
Brandmeyer, and Judy Camp as signers on these accounts.
NOW, THEREFORE, BE IT RESOLVED by the Vail Local Marketing District
of Vail, Colorado, as follows:
1. Robert McLaurin, Pamela A. Brandmeyer, and Judy Camp are hereby
designated as signers for the Account for the funds of the Vail Local
Marketing District.
2. This Resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 1st day of October, 2002.
Ludwig Kurz, Chair
Vail Local Marketing District
ATTEST:
Lorelei Donaldson, Town Clerk
MEMORANDUM
TO: Vail Town Council
FROM: Bob McLaurin, Town Manager
RE: 2003 Proposed Budget Discussion
DATE: September 26, 2002
The documentation regarding the 2003 Budget is not included in your packet.
This information will be delivered to you Friday afternoon or Saturday morning.
TOWN OF VAIL
Office of the Town Manager
75 South Frontage Road
Yail, Colorado 81657
970-479-2105/Fax 970-479-2157
MEMORANDUM
TO: VAIL TOWN~COUNCIL
FROM: PAM BRANDMEYER
DATE:. 26SEP02
RE: COUNCIL CONTRIBUTIONS
In the Council Contributions request packet Michelle delivered last week, I did not
include the applications for funding previously discussed on September 17 (e.g.,
Vail Today, VCBA, VLMD, etc.). However, if you would like another copy of any
or all of these requests, please let Mary or me know and we can either have it at
the front desk for you to pick up or at your places Tuesday morning (10/1/02).
~~• RECYCLEDPAPER
?M
MEMORANDUM
TO: Vail Town Council
FR: Bob McLaurin, Town Manager
DT: September 27, 2002
RE: FY 2003 Budget
We have scheduled five hours to review and discuss the proposed 2003 budget. Specifically,
we will be reviewing the revenue forecast, operating reductions, the mill levy election, Council
contributions and the capital projects planning document. Because of the complexity and the
interrelated nature of these capital projects and issues, we have prepared a "decision tree". This
document, identified as Exhibit A, highlights the required decisions and the time frames for these
decisions.
Perhaps one of the most important issues that needs to be discussed on Tuesday is how to
proceed in the event the election fails. As illustrated in the Capital Planning Document and the
Mill Levy Summary document, we cannot build new projects without new revenue.
Exhibit B is a map showing anticipated private redevelopment. As indicated by the 19 private
projects on the map, we stand on the verge of significant private redevelopment. These
projects, when complete, will eliminate talk of a "tired village," "substandard bed base," and
"outdated public infrastructure". These projects will dramatically improve the Village and
Lionshead core areas and will help ensure Vail's economic future. The map also identifies
public projects necessary to support this new redevelopment. Without the associated public
improvements, we will fail to capitalize on this private investment. We cannot pass up this
opportunity. Therefore, regardless of the outcome of the mill levy election, we must find a way
fund the capital projects associated with these redevelopments.
In the event the election fails, we need to look at other alternatives for revenue to fund these
projects. Potential sources include a Special Improvement District, Business Improvement
District or an election to implement a use tax. Should there be no additional revenues, we would
need to further reduce expenditures in order to free up funds for these redevelopment related
expenditures. This includes reductions in spending on operational costs as well as a reduction
of expenditures of the Capital Maintenance and Replacement portion of the Capital Projects
Fund. We would need to free up $2 - $3 million in order to fund the debt service for these
projects.
Mill Levv Election
Exhibit C is a document that identifies how the revenue from the mill levy would be used in 2003.
This document contains two tables. The first shows the annual revenues available for capital
projects and the cost of on going maintenance and replacement of infrastructure and equipment.
Examples of these expenditures include replacement of buses, street chip seals, and
replacement of expansion joints in the parking structures. As indicated on the table, our current
capital revenue is just enough to cover on going maintenance and replacement costs. New
projects must be funded with new revenues.
The second table summarizes how the additional revenue would be spent in the event the
election passes. The commercial core and pedestrian improvements proposed for funding
includes the replacement of the Children's Fountain area and improvements on Hanson Ranch
Road. It is assumed that in the out years (past 2003), these additional revenues would be used
to fund debt service on these redevelopment projects.
Budget Issues
As in previous years, there are significant challenges facing the town in this budget cycle. As
has been well documented, we are at a "mature sales tax environment" and demands for the
town's monetary and human resources continue to increase. Because of our revenue situation
and increasing demand for service, the task of providing "premier level" municipal services has
been increasingly difficult. Until this point, we have been. able to adequately fund service
delivery by reducing costs, eliminating positions and by transferring capital projects funds into
the General Fund.
Revenues
A summary of the revenue forecast is attached as Exhibit D. We are forecasting total revenues
for the fiscal year to be $38,330,612. Net of interfund transfers, the revenue forecast is
$32,791,433. Exhibit E is a summary of the major revenue sources and a comparison between
FY 2002 and FY 2003.
Sales tax collections are forecast to be flat in this budget. In other words, we are budgeting the
same amount of sales tax revenue that we expect to collect in FY 2002. Parking revenue and
RETT revenue are also forecast to be at 2002 levels. Building revenue is forecast to increase
20% to $780,000 due to the increase in fees discussed by the Town Council.
Expenditure Reductions
Pursuant to the Council's direction, the Town Manager's 2003 budget reflects a net reduction in
operating expenditures of 5%. Based on FY 2002 budget, the target for operating reductions
was $1,078,604. As indicated on Exhibit F, we were able to reduce net operating expenses by
$1,082,886. Budget reductions can be divided into four categories community relations and
contributions; personnel reductions; operating reductions and service modifications.
Personnel Issues
As noted in Exhibit F, we have reduced personnel costs both seasonal and full time. We are
continuing to calculate the net effect of these changes on our FTE count. We are also
continuing to evaluate personnel and positions. As noted in the budget summary, we have
included $125,000 in personnel reductions. These reductions will be identified early in the year
and will likely be implemented through attrition. Finally, the budget also includes a merit pool of
2.5%. This will fund merit raises for our employees and will be distributed based on individual
performance.
Capital Proiects
We have included several documents which may help in your discussions about capital
construction priorities. Exhibit G is the Capital Projects Planning Document showing revenues
and expenditures from 2003 until 2007. This document identifies and schedules all the
redevelopment projects to coordinate with the private development. It also shows the revenue
sources from the various sources (e.g. TIFF, developer contribution, etc). Please note that
pursuant to our funding philosophy (public safety, economic development, everything else), all
street reconstruction has been pushed back until 2008.
I hope you.find the information and format useful. If you have questions or need additional
information over the weekend, please give me a call. Please give me call at home (476-7388) or
on my cell phone 376-3158 and I'll be happy to discuss any of these issues. Thanks again.
Exhibit A
BUDGET DECISION TREEANDTIMELINE
Time Line
Sept. (02) October (02) November (02) December (02) January (03) February (03) March (03) April (03) May (03) June (03) Jufy (03) August (03) September October November (03) ~,
Work on a
Bonding Election
on use for 4 mil
increase 8 Town
~ Priorities ,
2003 Budget
Recommendation
• Fire Station
• Fire Personnel
• Vail Valley Dr.
• 911 Upgrades &
repeater
• Vllage Streetscape
Improvements
• I.70 Noise
" Mills Approved
wember
Ballot
Not Approved
Further refine costs
of public
improvements in the
Vllage and
Lionshead &
Detenmine location
for Fire Station
Improvements
2003 Budget
Recommendation
Fund additional fire
personnel
Determine location and
fund new fire station
Critical capital
maintenance
911 Upgrades &
repeater
)etermine whethe URA
to implement TIF whether to
and boundaries mploma DDA
Identity Other Funding
Options
• Use Tax
• Service Mill Levy
($1.3 mil)
• Special Assessments
• TIF (expand area)
Execute
development
improvement
agreements with
private developers
Decide on
methods
iecitle on additom
service area cuts
imf
t is
if a
Yes
Work with
property
owners on
special district
Develop a
campaign and
implement
campaign on
altemative funding
methods
After hearing Councilor
Council holds Council adopts Authority
25 Electors hearing on Complete resolution approves of
submit formation of Plan approving of issuing of
petition URA & passes plan bonds (25
resolution Base is Frozen Years)
DDA
Ordinance to
create authority
Note: This is a approved on 1st Must wait 90 days from
simplified version of and 2nd November 02 election
a TIF process for a
URA and a DDA Reading
Special Council Council passes ~"°"'~"y ~"°"'
adopts Council
election to appoints 5-11 Complete resolution to resolution .approves of
aeate members (1
Co
n
il plan for DDA approve Plan submitting bond language
authori
ty u
c
member) Base is Frozen
bond question with a
to the voters resolution
Work on BOTH a
Bond Election and
a special district
assessment
election
Decision on
bond and
special district
election
Public vote of
altemative fund
~ methods
Note: Failure of Bond Initiatives,
alternative funding methods, ar
TIF could result in significant
delays in Village and Lionshead
Redevelopment
(30 Years)
~= ~ __ ..
••'' -- ~~ ~
PUBLIC PROJECTS
A. South Frontage Road
• South Frontage Road to be expanded according to goals of Lionshead Master Plan, including dedicated
acceleration and deceleration turn lanes. Improvements to run West from Cascade Village, East to Vail Road
• Anticipated total cost: $15 Million
B. West Lionshead Circle
• Road and pedestrian streetscape improvements according to goals of Lionshead Master Plan.
• Anticipated total cost: $1.5 Million
• Anticipated public cost: Public cost to be potentially defrayed by traffic impact fees generated from private
development
C. Concert Hall Plaza Penetration
• Pedestrian and Emergency vehicular penetration between Concert Hall Plaza and the Montaneros, according
to goals of Lionshead Master Plan. Project will require private redevelopment of Concert Hall Plaza
• Anticipated cost: Unknown
D. Lionshead Pedestrian Mall
• Primary and secondary pedestrian mall improvements, according to goals of Lionshead Master Plan.
,..
• Anticipated total cost: $9 Million
E. East Lionshead Pedestrian Portal
• Pedestrian portal to be improved according to goals of Lionshead Master Plan, including removaU relocation
of service and delivery vehicles, private'skier drop-off, and local transit shuttles.
• Anticipated total cost: $3 Million
F. East Lionshead Circle
• Road and streetscape improvements according to goals of Lionshead Master Plan.
• Anticipated total cost: $1 Million
G. Lionshead Parking Structure
• Addition of new parking plate (approximately 350 parking spaces)
• Anticipated total cost: $1.5 Million
H. Vail Center- Charter Bus Lot
• Proposed community facility hub according to goals of Lionshead Master Plan
• Anticipated total cost: Unknown
I. Meadow Drive Streetscape
• Pedestrian and vehicular streetscape improvements- design underway
• Anticipated total cost: $3.3 Million
J. Vail Village Streetscape Improvements
• Pedestrian streetscape improvements, including surfacing, site lighting and furnishings, retaining walls,
landscaping, and public plaza improvements. Design and planning currently underway.
• Anticipated total cost: $10 Million
F~chibit C
Town of Vail
Capital Plan Maintenance and Replacements
Estimated funds available from sales tax revenue (average year) $ 5,000,000
Estimated additional funds from 2003 budget cuts ~ 750,000
Estimated debt service (2,225,000)
3,525,000
Capital Plan Maintenance and Replacements
Building Maintenance (850,000)
Street Maintenance (850,000)
Equipment Replacement -buses and fire trucks (1,300,000)
Street lights and drainage (150,000)
Technology (200,000)
Subtotal Capital Plan Maintenance and Replacements (3,350,000)
Average Surplus (Deficit) $ 175,000
Use of Proposed Mil Levy Increase in 2003
Priorities:
Public safety
Economic Development
Everything Else
Revenue generated from proposed mil levy $ 2,300,000
Use of mil levy funds in 2003
Additional fire fighters $ 300,000
COP funding for fire capital projects & fire truck 350,000
East Vail/Booth Creek repeater site 300,000
Public safety communication system/ 911 phone system 200,000
Commercial core road and pedestrian improvements 1,150,000
Total use of new mil levy funds in 2003 $ 2,300,000
F:\FINANCE\BUDGET\Budget0304\Mill Levy Uses 9/27/02
EzLibit D
TOWN OF VAIL
2003 BUDGET
SUMMARY OF REVENUE BY FUND
AND INTERFUND TRANSFERS AND CHARGES
sl~mmaryofrevenue.xls
2002....: 2002...
2001 Original _ 'Amended 2003
FLTIITD Actual I3udget_ .Budget Budget
Health Insurance Fwid 1,422,120 1,750,078 1,750,078 1,743,985
Dispatch Services Fiuid 1,326,699 1,382,354 1,382,354 1,489,758
Total Before Interfund Tr~ulsfers 41,123,923 38,539,945 40,804,944 38,330,612
Less Interfwid Charges & Tr~uisfers 5,752,847 6,065,089 6,065,089 5,539,179
General Fund 20,926,820 20,675,725 21,415,724 20,236,011
Capital ProjectsFwid 8,890,575 7,169,013 8,694,013 8,129,321
Real Estate Tra~isfer Tax Fiuld 3,982,107 3,151,887 3,151,887 2,729,300
Vail Marketing Fund 322,073 336,700 336,700 318,000
Debt Service Fund 2?81,040 2,328,929 2,328,929 1,875,949
Heavy Equipment Fund 1,972,489 1,745?59 1,745,259 1,808,288
NET REVENUE BUDGET 35,371,076 32,474,856 34,739,855 33,791,433
Interfund Transfers and Charges:
Transfer from Capital Projects Fund 2,262,958 2,328,929 2,328,929 1,743,985
Heavy Equipment Fund Charges 1,695,637 1,628,532 1,628,532 1,733,679
RETT Collection Costs 87,000 87,000 87,000 87,000
Information Services Charge 30,000 30,000 30,000
Health Insurance Charge 1?03,606 1,526,114 1,536,114 1,533,985
Dispatch Services Charge 473,646 464,514 464,514 450,530
TOTAL INTERFLJND CHARGES AND TRANSFERS 5,752,847 6,065,089 6,065,089 5,539,179
~x H~ b;t E
Major Revenue Analysis for 2003 Budget
Budgeted
Sales Tax
County Sales Tax
Property Tax Revenue
Lift Tax Revenue
Road $ Bridge Revenue
Highway Users Tax
Parking Revenue
Franchise Fees
Building Permits
RETT Tax
2000
Actual
2001
Actual Original
2002
Budget Revised
2002
Budget
2003
Budget Increase
in 2003
Over Revised 02
15,368,598 15,734,387 14,078,820 14,578,820 14,580,000 0.01%
517,260 511,870 547,951 475,000 475,000 Same as 02
2,082,770 2,420,327 2,635,958 2,635,958 2,661,011 0.95%
1,961,723 2,145,587 1,727,800 2,146,000 2,188,920 2.00%
466,024 477,279 489,906 489,906 485,255 -0.95%
225,509 219,674 219,358 212,000 209,861 -1.01%
1,980,421 2,313,445 2,000,000 2,300,000 2,300,000 Same as 02
576,904 628,427 598,175 598,175 602,500 0.72%
606,671 789,170 650,000 650,000 780,000 20.00%
3,518,178 3,029,526 2,500,000 2,500,000 2,500,000 Same as 02
23,785,880 25,240,166 22,947,968 24,085,859 24,282,547 0.8%
Revenue Major Anal 2003 5 9/27/02
2003 REVENUE SUMMARY
Exhibit E1
2002
REVENUES Amended
Percent
2003 Increase
Budget (Decrease)
Annual Revenues by Type:
Local Taxes:
Sales Tax 14,578,820
Property and Ownership 2,807,267
Ski Lift Tax 2,146,000
Real Estate Transfer Tax 2,500,000
Franchise Fees & Penalties on Taxes 621,875
Licenses & Permits 1,192,100
Intergovernmental Revenue 3,413,643
Transportation Centers 2,300,000
Charges for Services and ISF Charges 4,136,735
Fines & Forfeitures 206,690
Earnings on Investments 428,750
Miscellaneous and Operating Transfers ~ 6,473,064
36% 14,580,000 38% 0.0%
7% 2,835,511 7% 1.0%
5% 2,188,920 6% 2.0%
6% 2,500,000 7% 0.0%
2% 626,500 2% 0.7%
3% 1,197,000 3% 0.4%
8% 2,570,138 7% -24.7%
6% 2,300,000 6% 0.0%
10% 4,202,168 11 % 1.6%
1 % 197,000 1 % -4.7%
1 % 321, 000 1 % -25.1
16% 4,812,375 13% -25.7%
TOTAL ANNUAL REVENUES 40,804,944 100% 38,330,612 100% -6.1%~
Less Interfund Charges and Transfers (6,065,089)
(5,539,179)
NET`ANNUAL REVENUES 34,739,855 32,79'1,433
Exhibit F
Summary of Major Budget Changes
2002 Budget to 2003 Proposal
Contributions and Community Support
VLMD Funding (308,000)
VCBA Reduced 1/3 Each Year (100,000)
Vail Today (70,000)
TOV/VA Task Force -visitor interrupt surveys, peer resort visit: (59,600)
Vail Renaissance (38,600)
Jammin Jazz funded by Council 28,025
Subtotal Contributions and Community Support (548,175)
Staffing and Employee Costs
Staff Reductions (125,000)
Salary savings from vacant positions (90,000)
Overtime (88,487)
Reduction in seasonal positions -bus drivers (81,712)
Reduction in seasonal positions -maintenance (22,242)
Employee Relations (17,850)
International Recruiting (10,373)
Salary Increases at 2.5% 326,000
Health Insurance 80,800
Worker's compensation 51,900
Tuition program for student fire fighters 9,220
Subtotal Staffing and Employee Costs 32,256
Services
Bus Routes (200,000)
Check Point Charlie (50,000)
Snow Shovelling (31,000)
Park Improvements (20,000)
Gate Operations (16,500)
4 new parking hosts 61,300
Police Contracted Services for July 4th and New Year's 10,000
Radio Campaigns for July 4th & New Years curfews 20,000
Subtotal Services (226,200)
Other Operating Costs
Heavy equipment operating costs (114,802)
Utility Costs (59,665)
Town Manager - (49,138)
Facility maintenance and landscaping supplies (47,595)
Public Works' Operating Expenses not shown elsewhere (27,182)
Town Council (30,119)
Housing Maintenance (30,000)
Information Systems projects and support (24,700)
Town Attorney expenses -professional fees, litigation. Etc.. (14,748)
Dispatch -smaller portion of shared costs (13,983)
Transportation dept advertising (13,246)
All other items -
General liability insurance 75,154
All Other 9,257
Subtotal Other Operating Costs (328,501)
Net Expenditure Reduction (1,082,886)
i~thibit G
TOWN OF VAIL
CAPITAL PROJECTS PLANNING DOCUMENT
FY 2003 FY 2004 FY 2005 FY 2006 FY 2007
Begtnning Fund Balance 1,800,000 2,129,879 71,595,580 (2,484,719) (9,418,043)
Sales Tax 5,000,000 5,000,000 5,000,000 5,000,000. 5,000,000
OtherCPF Revenue 1,015,000 1,600,000 750,000 150,000 150,000
GF Reductions 750,000 750,000 750,000 750,000 750,001
RETT fund revenues for streetscape 500,000 500,000 500,000 500,000 500,000
Existing Revenues 7,285,000 7,850,000 7,000,000 8,400,000 8,400,001
Developer Contributions 200,000 1,800,000 22,000,000 7,500,000
TIFF Revenue - 13,000,000
New Mill Levy (net) 1,900,000 1,900,000 2,000,000 2,000,000 2,000,000
Subtotal Potential New Revenues 2,100,000 16,700,000 24,000,000 9,500,000 2,000,000
Total Funds Available 9,385,000 24,550,000 31,000,000 15,900,000 8,400,001
CAPITAL MAINTENANCE
DEBT SERVICE 1,875,949 2,294,099 2,315,299 2,317,324 2,322,099
Equipment Purchases 1,804,372 1,651,000 1,275,000 619,000
Capital Maintenance 795,000 750,000 920,000 942,000
Street Reconstruction 340,000 0 0 0 0
Buildings and Improvements 955,000 859,000 700,000 900,000
Housing Program 100,000 100,000 100,000 100,000 100,000
Miscellaneous Improvements 100,000 100,000 100,000 100,000 100,000
Subtotal Capital Maintenance 5,970,321 5,754,099 5,410,299 4,978,324 2,522,099
NEW PROJECTS
Fire Station (COP) 350,000 350,000 350,000 350,000 350,000
Village Streetscape (Hanson Ranch Rd) 665,000
Vail Valley Drive 350,000
East Vail Repeater Site 300,000
911 Upgrades 200,000
Children's Fountain (heated) 750,000
I-70 Noise 250,000 250,000 250,000 250,000 250,000
Subtotal 03 Projects 2,885,000
East Meadow Drive (no heat) 1,300,000
West Meadow Drive 2,100,000
Public Restrooms 350,000
Loading & Delivery 2,000,000
Village Streetscape (Bridge Street & Gore Creek Drive 2,980,000
Subtotal 04 Projects 8,730,000
Frontage Road Improvements 10,000,000
Lionshead Pedestrian Plaza 9,000,000
West LH Circle 1,500,000
East LH Circle 1,000,000
East LH Portal _ 3,000,000
Village Streetscape (W. Gore Creek Drive) 2,570,000
Lionshead Intermodel Site 12,000,000
Subtotal 05 Protects 39,070,000
Parking Improvements 15,000,000
Village Streetscape (Wall StreeUFounder's Plaza) 1,905,000
Public Restrooms 350,000
Subtotal 08 Projects 17,255,000
Village Streetscape (Checkpoint Charlie/Willow Bridge/Gore Creek Promenade) 2,388,000
Library Renovation
Neighborhood Streets
Skate Park
Frontage Road Improvements 5,000,000
Subtotal O7 Protects 7,388,000
Total Expenditures 8,835,321 15,084,099 45,080,299 22,833,324 10,510,099
Revenue Over (Under) Expenditures 529,879 9,485,901 (14,080,299) (8,933,324) (2,110,098)
Ending Fund Balance 2,129,879 11,595,580 (2,484,719) (9,418,043) (11,528,141)
F:\FINANCE\BUDGET\Budget03041capitalplanlfrom Bob
CAPITAL PLANNING DOCUMENT
What follows are proposed start up dates for new projects to be considered in
conjunction with public infrastructure improvements.
'03
West Day Lot - Phase I (townhomes/condos)
P3J
Tivoli
Holy Cross
New VRI Maintenance Facility/Expansion of ERW&SD (old town shop)
'04
Swiss Haus
West Day Lot -Phase II (hotel)
Medical Center/Evergreen
Core Site (hotel/condos)
North Day Lot' (employee housing/circulation)
Conference Center
Chateau (old Holiday Inn)
WI
Front Door
Vantage Point/Vail 21
'05
North Day Lot
Conference Center Parking Structure
TOWN OF VAIL
Offcce of the Town Manager
75 South Frontage Road
Yail, Colorado 81657
970-479-2105/Fax 970-479-2157
MEMORANDUM
~,
TO: VAIL TOWN COUNCIL
FROM: PAM BRANDMEYER
DATE: 26SEP02
RE: COUNCIL CONTRIBUTIONS
In the Council Contributions request packet Michelle delivered last week, I did not
include the applications for funding previously discussed on September 17 (e.g.,
Vail Today, VCBA, VLMD, etc.). However, if you would like another copy of any
or all of these requests, please let Mary or me know and we can either have it at
the front desk for you to pick up or at your places Tuesday morning (10/1/02).
~~~ RECYCLED PAPER
TOWN OF VAIL
Office of the Town Manager
75 South Frontage Road
Yail, Colorado 81657
970-479-2105/Fax 970-479-2157
MEMORANDUM
TO: VAIL TOWN COUNCIL
FROM: PAM BRANDMEYER
DATE: 26SEP02
RE: COUNCIL CONTRIBUTIONS
In the Council Contributions request packet Michelle delivered last week, I did not
include the applications for funding previously discussed on September 17 (e.g.,
Vail Today, VCBA, VLMD, etc.). However, if you would like another copy of any
or all of these requests, please let Mary or me know and we can either have it at
the front desk for you to pick up or at your places Tuesday morning (10/1/02).
~~~ RECYCLEDPAPER
TM