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Home My WebLink About2003-08-19 Support Documentation Town Council Work SessionAGENDA VAIL TOWN COUNCIL WORK SESSION P.M. TUESDAY, AUG. 19, 2003 1. ITEM/'TOPIC: Executive Session • Fire Services C.R.S. 24-6-402(4)(b)(e) (1 hr.) • Town Manager Negotiations C.R.S. 24-6-402(4)(b)(e) (30 min.) • Attorney Conferences and Negotiations re: Old Town Shops C.R.S. 24-6-402(b)(e) (10 min.) 2. Sybilt Navas ITEM/TOPIC: Vail Commission on Special Events Discussion re: Lorelei Donaldson Commission Member Qualifications (10 min.) Matt Mire BACKGROUND RATIONALE: The current Commission on Special Events ordinance (Ord. 18, Series 2002) allows producers and/or promoters of events to sit as voting members of the board as long as those entities and individuals are not requesting funding. Based upon that distinction, some apparent conflicts have arisen. Especially as it relates to in kind services ACTION REQUESTED: Accordingly, the staff would like direction as to whether it was and is the intention of the council to prohibit producers and/or promoters to sit as voting board members in any situation and what restrictions should apply. 3. Russell Forrest ITEM/TOPIC: Discussion re: Evaluation of the Fiscal Impacts of Guest Lodging (45 min.) BACKGROUND RATIONALE: The Town Council has asked staff to evaluate the fiscal impacts of alternative lodging types including accommodation units, fractional fee/time-share units, condominiums and condominium hotels. Staff has also evaluated the regulatory issues related to guest lodging types. In addition, staff has provided a study prepared by Harvard business school graduate students on fractional fee time-share uses in the Town of Vail. ACTION REQUESTED: Review the information on this issue and provide direction to further research regulatory and fiscal issues identified in the staff memo. 4. George Ruther ITEM/TOPIC: Design Review Board/ Planning and Environmental Commission Update (10 min.) 5. Judy Camp ITEM/TOPIC: Council Review of First Draft for 2004- Budget (30 min.) 6. Information Update (5 min.) Page 1 7• Matters from Mayor and Council (5 min.) 8. Adjournment (4:25 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 BEGIN AT 2 P.M. TUESDAY, SEPTEMBER 2, 2003 IN THE VAIL TOWN COUNCIL CHAMBERS. THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING WILL BEGIN AT 6 P.M. TUESDAY, SEPTEMBER 2, 2003, IN VAIL TOWN COUNCIL CHAMBERS Sign language interpretation available upon request with 24-hour notification. Please call 479- 2332 voice or 479-2356 TDD for information. Page 2 1~ ~R~;11~~~I'I'v~C~ ~L~LI~i, ~RI~'~TIa~'<:, ~-I1~ Founder Jimmie Heuga Board of Directors James Bergmann, MD Charles Duke *Jonathan Feeney, MD *Bob Gardner Bruce Hallett Aubyn Howe Andrew Malloy Richard Neustedter Holly Ong *Gini Patterson, PT Steve Pope Barbara Roehrig Harry Ryan Karen Theriot, MD John Tlapek *Denotes Officers Advisory Board Bob Beattie Tom Brokaw Gen. Jack Chain Bob Craig Andy Daly Gary DeSeelhorst Gerald Engle Gerald Gallegos Jan Helen Richard `J6,'. E{irks, Ph.D. Jim Hosier David Ingemie Jerry Jones Hank Kashiwa Jack Kemp Billy Kidd Jean-Claude Killy Bill Marolt George Mauduit Warren Miller Stephanie Novosad Ed O'Brien Frala Osherow Jack Petajan, M.D., Ph.D. Tom Phelps Brad Quayle Randall Schapiro, M.D. Howard Twilley President Brian Hutchinson, PT July 29, 2003 Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, CO 81657 Dear Ms. Harpe: Enclosed please find an application for Town of Vail funding. I have included 12 copies of the application along with the requested financial information. Please do not hesitate to contact me at 926.1290 if you have any questions. I look forward to working with you and the Town of Vail. Sincerely, / t f`' , /4 Brian Hutchinson President www.heu~a.org • 1-800-367-3101 27 Main Street • Suite 303 • Edwards • Colorado • 81632 • (970) 926-1290 • (970) 926-1295 FAX Internal Revenue Service 501 (c) 3 Charitable Organization Number 74-2337853 s APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, CO 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: The Heuga Center 2. Contact person: Brian Hutchinson 3. Mailing address: 27 Main Street, Suite 303 Edwards, CO 81632 4. Telephone: 970.926.1290 5. Members and titles of your governing board: Founder Jimmie Heuga Board of Directors Charles Duke Jonathan Feeney, MD, Secretary Bob Gardner, Chairman Bruce Hallett Aubyn Howe Andrew Malloy Gini Patterson, PT, Vice-Chair, Treasurer Barbara Roehrig Harry Ryan Karen Theriot, MD John Tlapek Advisory Board Bob Beattie Tom Brokaw Gen. Jack Chain Andy Daly Gary DeSeelhorst Gerald Engle Gerald Gallegos Jan Helen Richard W. Hicks, Ph.D. Jim Hosier David Ingemie Jerry Jones Hank Kashiwa Jack Kemp Advisory Board Bill Kidd Jean-Claude Killy Bill Marolt George Mauduit Warren Miller Stephanie Novosad Ed O'Brien Frala Osherow Jack Petajan, M.D.,Ph.D. Tom Phelps Brad Quayle Randall Schapiro, M.D. Howard Twilley 6. Amount of contribution requested: Cash contribution: $2,500 In-kind contribution: 5 Blue Parking Passes: $750 x 5 = $3,750 The Heuga Center 1 7.Organization fiscal year-end: September 30. 8. Are your books audited? Yes. 9. How will the contribution be used? Funding will be used to sponsor the Vail International Snow Express for MS Finals, April 7-11, 2004. This annual event hosts 400-500 people from across North America during a traditionally low tourist season for Vail. Throughout the five days of events, participants are exposed to Vail Valley events, restaurants, merchants, lodging, and the unparalleled skiing/snowboarding. The Town of Vail's support of the Vail International Finals will be recognized in the Finals program, on our website, and on all Finals marketing materials. Your cash contribution will help underwrite the cost of hosting the Finals event while your in-kind contribution of five Blue Parking Passes will enable 'The Heuga Center's staff to more efficiently plan and implement the Finals event and our annual CAN DO programs. 10. How does your request support item 1C of the contribution policy? 'The Heuga Center's activities align with the Vail Town Council's mission statement by providing high-quality recreational and educational opportunities for citizens and guests of Vail. Our Vail International Snow Express for MS Finals brings 400-500 people to Vail each April, providing them with an abundance of superior recreational opportunities, all while supporting the important work that The Heuga Center provides for people with MS. Additionally, each May and October, The Heuga Center hosts its renowned CAN DO Program in Vail. This program teaches people with MS how to focus on what they can do instead of what they cannot by emphasizing general health, physical fitness, and psychological well-being. The CAN DO program also offers an extensive component for support partners, addressing their individual needs and concerns and educating them about the disease. These two five-day programs bring 200 people to Vail during the shoulder seasons each year. Many participants in our Vail International Snow Express Finals and medical/educational programs return to Vail on vacation. Their experience in Vail is overwhelmingly positive and they choose to return for winter and summer vacations. Support from the Town of Vail will .only make our participants' experiences better. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? Sources of funding include: • Fundraising, grants, sponsorships, and special events: 87% • Fee for service: 10% • Individual donations: 3% 12. Organization's mission statement: The Heuga Center helps those faced with chronic conditions live healthier, more active, better quality lives through educational and wellness programs and ongoing research. The Heu4a Center 2 The Heuga Center Balance Sheet 6/30/03 Totals Assets: Current Assets: Cash and cash equivalents 169,828.79 Accounts receivables 3,382.19 Donated inventory -prizes and awards 66,420.00 Prepaid expenses 7,245.86 Total Current Assets: 246,876.84 Restricted Assets: Cash restricted for cafeteria plan 940.00 Cash restricted for medical programs 23,693.50 Total Restricted Assets: 24,633.50 Property, Furniture, and Equipment: River Centre 1,236,093.84 Furniture, fixtures and equipment 39,569.20 1,275,663.04 Less: Accumulated depreciation (166,397.91) Net Property, Furniture, and Equipment: 1,109,265.13 Total Assets: 1,380,775.47 Liabilities and Net Assets: Current Liabilities: Accounts payable 0.00 Cafeteria plan payable 956.00 Loan payable 4,087.97 Medical payable 23,692.88 Deferred revenue -medical programs 0.00 Deferred revenue -snow express 0.00 Deferred revenue - NY dinner 0.00 Total Curent Liabilities: 28,736.85 Long Term Liabilities: Mortgage payable 526,952.00 Security deposit 1,500.00 528,452.00 Total Liabilities: 557,188.85 Net Assets: General fund balance (3,423,528.81) Fundraising fund balance 6,476,622.88 Medical fund balance (1,775,106.95) Research fund balance (610,981.63) Program Development fund balance (87,214.41) Excess Revenue over (under) Expenditures 243,795.54 Total Net Assests: 823,586.62 Total Liabilities and Net Assets: 1,380,775.47 THE HEUGA CENTER STATEMENT OF OPERATIONS COMPARISON REPORT SUMMARY 9Jul-03 Twelve Month Twelve Month Twelve Month Twelve Month Twelve Month Budgeted Actual Forecasted Variance Proposed PROGRAM CONTRIBUTIONS: Fiscal Fiscal Fiscal Forecast vs. Budget 2003 2003 2003 Budget 2004 Generel (10-1003 f0.900) Revenue Expense 645,750 $44,021 :58,328 68,578 545,500 Total General: 140,789 560,766 149,814 8,828 132,885 (95,039) (516,765) (94,286) 783 (87,366) Fund Rating (20•XXX) Revenue Expense 1,430,755 1,158,165 1,278,296 (152,489) 1,267,828 Total Fund Raising: 854,436 578,318 367,970 790,195 748,180 b32,138 (108,278) (44,183) 752,101 515,725 Medical (30-XXX) Revenue Expense 132,500 125,750 118,000 (13,500) 158,000 Total Medical: 521,848 190,517 480,958 (40,891) 811,944 (388,349) (84,767) (381,858) 27,391 (353,844) Research (40-XXX) Revenue Expense 0 0 0 0 10,000 Total Research: 82,308 12,086 52,127 (10,178) 54,458 (62,306) (12,086 (52,127) 10,179 (44,488) Program Development (50-XXX) Revenue Expense 22,000 39,452 44,482 22,452 22,000 Total Program Development: 51,825 (29,625) 9,801 29 651 51,680 (7 228) 55 22 397 52,005 , , , (30,005) Total Revenue Total Expense 1,631,005 1,387,388 1,497,078 (133,929) 1,503,326 Gross Contrlbutfons 1,631,005 """"""^"'"'~^ 1 141,160 1460,839 150 488) :;:" 1503 370 Contingency/Capital 0 0 0 0 0 Net Contribution Aker Capital Expenditures --~~i# -. `. ~~2~ I... a$~3~: .,; ::..: 16,J3~., (;~;E CoaMbatlon Ragout Spretdeheet TOR'NOFYAJLFUNDINGAEQUE3T GENERAL FUND CaMribatlom: ZB03 Contrlbtrtlon 2003 LrKbrd Cantrlbutlon 2003In-Kind Velne 2004 Cub Regtxet 2004Io-Klnd 2804Io-Kiod Vnlne Matoager't Rxommendntbm Cub Io-Khd Io-Kiod Vnlne ECONOMIC: Bravo! ColoradoMew York Philharmonic 95,000 !00,000 95,000 Bravo! Colorado 21,375 27,500 15 Ford Park Tickets 1,350 21,375 NO The Heu a Center 2,500 5 Blue Passes 3,750 0 SeeCSE Vail Jau Foundation/HowardS!one 6,650 1 Blue Pass 750 Jazz Gces to School, VJF Re . Bi Band, Jazz Worksho 0 15,000 1 Blue Pass 7S0 6,650 I Blue Pass 750 Ma'or Headliner & Performances 75,000 Recommend to CSE Vail Chamber & Business Association (VCBA) 225,000 200,000 Alread a oved 613/03 Var1 Farmers' Market Traffic conhol TOV buses 5,000 Traffic Control, TOV buses 5,000 Vail Valley Foundation Gerald R. Ford Amphitheater (Hot Summer Nights) 2D,000 25,000 Police rice 2,800 20,000 Police resence 2,800 Vail International Dance Festival 12,500 20,000 12,SW Winter Concert Series/Sheet Beat 16,571 27,500 Police & PW s rt 6,000 16,571 Police & PW su rt 6,000 Vail Valley Chamber & Tourism BureaulFrank Johnson 25,000 25,000 Note 8 25,000 Already ap ved 613103 Events & Information Staff Parking 9 Blue Passes 6,750 9 Blue Passes r contract 6,750 lnfomtation Booths 199,500 199,SD0 Per contract Special Events Vail 50 ( arking asses for ski sses & corn. Hosts) 25 Blue Passes 18,750 25 Blue Passes 18,750 25 Blue Passes 18,750 Commission on S cial Events 565.000 565,000 Already a proved 7/U03 TOTAL ECONOMIC 1,186,596 ~ 26,250 317,500 0 38,400 1,161,59b 0 40.050 ENVIRONMENTAL: Eale Valle Alliance for Sustainabili Sha in The Future of the Ea le Valle 4,800 1,200 With matchin $s Post Office Re clin 480 D En y Efficiency & Renewable Incentives 25,W0 5,000 With matching $s TOTAL ENVIRONMENTAL (SEE IiE - - - 30;280 - - 6,200 EDUCATIONAL: Alexander Foundation Vail Music Faire 0 Youth Golf Clinic 0 Children's Garden of Leamin 5,000 0 Vail Rotary 1,000 TOTALED CATTO AL 0 0 0 6,000 0 0 0 0 0 24 1003 Contribatlon Z003Io-Kind Conhi6ndon 1003In-Kind Vrilae ZOIW Cuh Regneh ZqW In-Kind 1004 is-Kind Vrloe Mtnoger'r Recommendation Cash In-Kind In•Kind Value HEALTH AND HUMAN SERVICES: Crime Sto ers of Ea le CO 2 Blue Passes 1,800 CASA of the Continental Drive As a reminder, Ea le River Youth Coalition all Health & Ea le Vall Humane SocierylChar Newman Human Services The Buddies Pro m of Ea le County a Iicatio:cs The Resource Center of Ea le Coun were rcfeaed to Vail-Ea a Rotary Club the Coup b Vail Mountain Rescue Grou letter. United Way 0 TOTALHEALTHANDHUMANSERViCE5 1,500 - - RECREATION First Descents 1,900 Skatin Club of Vail 8 days ice 10,570 8 days of ice 11,891 8 da s of ice 10,570 Ski Club Vail 4 days ice 5,285 4 da s of ice 5,285 4 days of ice 5,285 Famil Leamin Center Note S 2,643 Battle Mountain Hi h School Ski Team Nnte 4 1,000 500 after 2 arkin 2,500 500 after 2 arkin 2,500 Kin ofthe Mt. Voile ball Suttte bus 3 da s 11.4 1,300 See CSE Snowshoe Shuffle-Sarah [add Note 6 3,850 arkin 4,000 arkin 4,000 VRD-Club vail 2002/Mart Thomas VRD-Ea le CO Youth ActivitieslDiane Johnson VRD-Vail Family Carnival/Diane Johnson I,S00 Note 7 See CSE VVMC LuncheonlSryle Show Note 2 4,000 500-600 arking I day 4,000 500.600 parkin I day 4,000 TOTAL RECREATION 1,900 ll 27,348 1,500 0 28,476 0 0 26,355 DONOVAN PARK REQUESTS TOV Annual Community Meeting 4.7 (Jan.2, 04) IfZ da (Fri: P) + 1,400 Ahead A oved 1,400 TOV Clean-u Da Gam-2 m (Ma 15, 04) I day (Fri: NP) 1,380 Alread A roved 1,380 TOV Nei hborhood Picnic & Ice Cream loam-2 (Au 19) Ida (Thor: P) 1,840 Ahead A roved 1,840 Election6am-l0 (Nov. 2, D4) lday(Tue:NP) 1,380 Alread Aproved 1,380 Vail S m sium (4-8 Set 17, 03) 112 da (Wed.-NP) SID Yes 510 Gore Ran Natural Science School 2,000 1 wknt month 3,060 Yes (especially if wkda) 3,060 Colorado Mountain Cole a (Nov. 6, 03) 1 da (Wed: NP) 1,425 Yes 1,425 Skatin Club of Vail (A 't 04) 1 da (Thor: NP) 900 Yes 900 Vail Valley Exchan a 6.8 (S t 18, 03) 1!2 da (Thur.-NP) 510 Yes 510 VVCTB 03 7:30-5 Nov 4,7,14,18,21,12:30.9:30 Nov t0 6 da s(3-WKD & 3-WE) 6,840 Yes (es eciall if wkday) 6,840 WCTB 2004 6 days in Nov. 6 da s 6.840 Yes (es eciall if wkda) 6,840 TOTALDONOVANPARKREQUESTS 2,000 . 26,085 0 0 26,085 20 22 22 1003 Coatribtdla Z003In-Ki®d CooMbatlaa Z003In-Kind Vdue 2004 Cash Request Z004Io-Kind 20M Io-Kind Value Matga'e Reeommendotloro Cash Io-Kind ImKind Value SIIBTOT:IL-CONTRIBUTIONS 1,188,496 - 55,098 357280 - 93,46f .1,167,796 - 92,49p ARRANGEMENTS a~ AGREEMENTS: Vail Vall Comm. TV/Ch5 (38% of franchise fee) 57,000 57,000 Youth Recd ninon Award 6,000 7,000 Vail Vall Athlete Commission 4,750 4,750 Ea le Valley Child Care (added 1 Il03) 30,000 30,000 S6B TOTAL- ARRANGEMENTS and AGREEMENTS 47,750 - - - - - 98,750 - GRAND TOTAL General Fund 1,286,246 - 55,096 357,1,80 93,461 1,21;6,546 - 42,498 Rat Estate Trttraftr Ta: Frurd: Eagle River WatershedlCaroline Bedford 47,500 0 ttiver& Community Pride Hwy Clean U 950 0 Vail AI ir:e Garden FoundadonlR Southard Funds for o lions 50,000 75,000 75,000 Funds for new arden ca ital construction 0 Mar Fmd Vai] Local Marketing District 150,000 C Frojeala Fund Eagle C. Down Payment Assistance Comm-Christie B Nate 1 TOTAL 248,450 0 0 75,000 0 0 75,000 0 0 Gra~TaW 1 % 0 55,0% 432,280 0 93,461 1,341,546 0 92,49A NOTES: 1. Up to $15,000 from down payment assistance program if Avon matches contnbution;home should be in Vail. Theae were rat approved ht orlgtaal Radie4 Added Lter: 2. VVMC LuncheonlStyle Show in-kind pkg., Thur., Apri13 Vail $4000.D0 3. VRD Voucher Program: Vail Skating Club, Vail Jr. Hockey, & Leam-to-Skate Tot (600-800 participants) 4. BMHS Alpine Ski Team in-kind pkg., Arrive after 2 pm M-F only value $1000 5. Family Learning Csnter/Ski Club Vail (Detroit Red Wings (March) 2 days of Ice. 6. loth Annua] Snow Shoe Shuffle in-kind pkg. Parking value $3850 7. May need parking vouchers if five a$er 3 is N1Yf reinstated 8. 5,000 each for Retail Series, Retail Improvement, Expand Event Recruitment, Expand Premier Impressions, Expand Platinum Services. ` P=Peak times, NP=Non peak times, please refer to Donovan Pavilion Rate Sheet. MEMORANDUM To: Town Council From: Pam Brandmeyer Judy Camp Date: August 7, 2003 Subject: Contribution Requests We are enclosing contribution requests along with a summary worksheet for discussion at the evening meeting on August 19th. Please note that we do not require contribution request packets for the items in the "Arrangements and Agreements" section, but they are a part of our contributions budget. Also, we did not receive a request packet from VCBA. We have contacted them and will forward their packet when we receive it. Please review the requests, write your recommendations for cash and in-kind contributions in the far right columns, and return to Penny Harpe as soon as possible. We will compute the average of your recommendations for the August 19tH meeting. Since Chuck is away, we do not expect to have the averages ready for the packet next Thursday, but will provide them on the 19tH DONOVAN PAVILION RATES Dates Peak Season Winter November 26, 2003 -April 4, 2004 Summer June 11, 2004 -September 7, 2004 Off-Peak Season Fall September 2, 2003 -November 25, 2003 Spring April 5, 2004 -June 10, 2004 Hours All Day Sam - 12 am Half-Day AM lam - 3pm Half-Day PM 4pm - 12 am AM lam - 11am Rates Peak '03 8 '04 Full Day (Fri-Sun) Full Day (Mon-Thurs) Half-Day (Fri-Sun) Half-Day (Mon-Thurs) AM (Mon-Thurs) Off-Peak '03&'04 Full Day (Fri-Sun) Full Day (Mon-Thurs) Half-Day (Fri-Sun) Half-Day (Mon-Thurs) AM(Mon-Thurs) Kitchen Rental DEPOSITS Reservation Deposit Security Deposit Final Payment Standard Vail Resident Eagle County Resident $2,300 $1,725 $2,070 $1,500 $1,125 $1,350 $1,400 $1,050 $1,260 $850 $640 $765 $400 $300 $360 Standard Vail Resident Eagle County Resident $1,840 $1,380 $1,656 $1,200 $900 $1,080 $1,120 $840 $1,008 $680 $510 $615 $320 $240 $290 All Day Half-Day AM $225 $125 $50 50% of Usage Fee Applied towards rental and non-refundable $500 -All Day $300 -Half-Day $175 - AM Due in Full 30 Days Prior to Event 8/5/03 e APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thurs. July 31, 2003 by 5:00 P.M. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road West Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: 2. Contact person: 3. Mailing address: 4. Telephone: Bravo! Vail Valley Music Festival John W. Giovando, Executive Director P.O. Box 2270, Vail, Colorado 81658 970 827 5700 i 5. Members and Titles of your governing board: Kathleen Eck, Chairman; Steve Pope, Vice-Chairman; Jan Broman, Treasurer; Barbara Treat, Secretary -Officers for 2004-05. 6. Amount of contribution requested: $127,500 A. $27,500 general operating, artistic and marketing support as in past years together with 15 Ford Park Parking Permits during the 17th Season Dates at the Ford Amphitheater. Permits to be used by conductors, concerto artists, and senior staff and B. $100,000 New York Philharmonic-Vail Residency artistic and special artists expenses together with national and regional marketing -17h Season, Summer 2004. 7. Organization fiscal year-end: September 30 annually 8. Are your books audited? Yes 9. How will the contribution be used? (A) Grant funds in the amount of $27,500 from the Town of Vail will be applied directly toward the 2004 general operating, artistic and marketing expenses of the Festival as in past years and (B) $100,000 directly toward the 2004 New York Philharmonic-Vail Residency artistic, special artistic and marketing expenses. 10. How does your request support item 1 C of the contribution policy? Please see reverse side 1 1. Who currently funds your organization (other governments, private donations, user fees, etc.)? Please see reverse side 12. Organization's mission statement: The mission of Bravo! Vail Valley Music Festival is to foster the excellence, diversity, and vitality of the arts, especially music, through the presentation of concerts at the highest international level, to broaden the availability of such presentations to all people and to promote public education in the arts. APPLICATION FOR TOWN OF VAIL FUNDING Response to No.10 (How does your request support item 1C of the contribution policy?) 1) A positive, sustained economic climate The 2003 Season of Bravo! Served an estimated 55,000 concert-goers through the production of 18 orchestral concerts, 2 orchestral youth programs, and 1 free Patriotic Concert, all at the Ford Amphitheater in Vail together with 16 chamber music concerts throughout the Vail Valley 40 out-door concerts throughout the Vail Valley by the Festival's "Young Artist Ensemble-in-residence Program," The Rembrandt Quartet 25 student programs including Strings in the Schools and the Vail Public Library concert series The Festival brought into Vail over 410 performing artists including three professional orchestras: The New York Philharmonic, the Dallas Symphony Orchestra and the Rochester Philharmonic together with 7 conductors, 40 soloists, 1 student string ensemble and 33 orchestral support staff. Approximately 365 family members and guests accompanied the musicians.. An estimated 40% of ticket buyers came from outside Eagle County, Colorado. The performing arts are approximately 50% of the draw to the Vail during the summer months which account for a substantial economic impact to the region thus helping to support a positive, sustained economic climate in the Valley. This impact can be measured by documented increases in room reservations and retail sales. In addition the Festival brought national recognition to the Valley through the presentation of the New York Philharmonic together with the broadcast of over 40 chamber music works on National Public Radio, Performance Today, reaching an estimated six million people per program through 229 member stations. The Festival received major national coverage from the metropolitan areas of Denver, Los Angeles, San Francisco, Phoenix, Albuquerque, Chicago, St. Louis, Boston, New York, Philadelphia, Washington, Rochester, Atlanta, Dallas, Houston, and Miami. The Festival averaged 6,000 "hits" a month on its web site during the last 12-month period. The 17'h Season of 2004 is now scheduled for June 27-August 4 for which funding is requested and the Festival will again feature the New York Philharmonic, its second Bravo residency, and will again bring a new luster of excitement to Vail. Thank you for this very vital support to Bravo for the 2004 Season. b) An environmentally sensitivity high quality of life The Bravo! Festival helps to provide and sustain a high quality of life in the Vail by providing a positive and superior cultural experience for resident and visitor alike in its professional production of over 100 concerts and events annually together with 315 open rehearsals. The concerts incorporate orchestra, chamber music, pop/folk, and student programs thus providing an abundance of cultural opportunities. The Bravo! Festival is committed to setting the highest international standard of excellence in the performing arts and creating a strong sense of community and pride for the Vail community through the arts. Music enriches all of our lives. It is a universal language of mankind and is indeed environmentally sensitive. Response to No. 11 (W11o currently funds your organization-other governments, private donations, user fees, etc.?) a) Organizational funding The Bravo! Festival receives funding support form private and family foundations, state and local government, corporate and business enterprises, individuals, and membership fees from the local community Guild. Earned income is generated through ticket sales, program advertising, concession sales, and bank interest revenue. APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year: September 30, 2002* Assets: Current Assets: Cash and cash equivalents Unrestricted $306,239 Restricted 238,901 Investments 0 Accounts Receivable 253,322 Prepaid expenses (donor restricted - 2003) 83,425 Total Current Assets 881,887 Fixed Assets: Leasehold Improvements 42,894 Less: Accumulated amortization (39,838) Furniture, fixtures, equipment 228,527 Less: Accumulated depreciation (137,965) Net Fixed Assets 93,618... Total Assets: $975,505 Liabilities: Current/Non-Current Liabilities Accounts payable $ 82,604 Salaries payable 10,848 Payroll taxes payable 705 Interest Payable 10,400 Lease payable 7,351 Loan payable, Piano (current) 24,000 Loan payable -Piano (non-current) 40,000 Deferred obligation, (non-current) 173,901 Total Liabilities: $349,809 Total Assets: $975,505 Total Liabilities: 349,809 Net Worth (Total Assets Minus Total Liabilities) $625,696 *Please Note: Most recent completed fiscal year at time of application due date: September 30, 2002 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year - 2003 Revenues: (List by funding source) Budget - 2003 Ticket Sales $ 585,000 Corporate/Business Contributions 165,000 Private Foundations 125,000 Family Foundations 255,000 Friends of the Dallas Symphony 168,100 Friends of the New York Philharmonic 395,000 Individual Contributions 560,000 Bravo! Primer 15,000 Soiree Series 75,000 National Endowment for the Arts/Colorado Council 13,750 Town of Vail, New Yorlc Philharmonic 100,000 Town of Vail, General Operating/Marketing/Artistic 21,250 Town of Avon/Eagle County 25,000 Bravo! Membership Guild 6,000 Bravo! Benefit Fundraiser/Golf 30,000 Program Advertising 130,000 Gala Dinner/Auction 90,000 Misc. Income 1,500 Interest Income 6,000 Endowment Support 45,000 Festival Receptions 5,000 Soiree Reimbursements 36,000 In-Kind Contributions 1,575,000 Total Revenues: $4,427,600 Expenses: Artist Fees/Expenses $1,469,500 Special Artistic/Production 188,300 Marketing/Fund Raising 340,650 Administration 178,725 Salaries/Taxes/Benefits/Workman's Comp. 675,425 In-Kind Expenses: Corporate/Individual 3 85,000 Advertising 100,000 Production 135,000 Orchestra/Artistic Fees 765,000 Other/Gala/Auction 190,000 Total Expenses: $4,427,600 Total Revenues Minus Total Expenses: $ 0 . ~ ~- July 31, 2003 Christine Richards-Carlson Executive Director Vail Jazz Foundation PO Box 3035 Vail CO 81658 RE: Contributions Dear Christine, The Town Council has reviewed and approved the contribution request procedure for 2004 contributions. Please note that contributions will only be awarded to applicants who can show the contribution will be used directly to benefit the entire community of Vail. Attached please find the following forms that relate format and policy the Town of Vail has implemented in regard to requests for funding. These forms are as follows: 1) Contribution Policy/Disclosure 2) Application for Town of Vail Funding 3) Application for Town of Vail FundingBalance Sheet 4) Application for Town of Vail Funding/Statement of Sources and Uses 5) List of 2003 Request Approvals A completed submission must be received at the Town of Vail by Thursday, July 31, 2003 by 5:00 P.M., in order to qualify for funding in 2004. Funding will be determined solely from the written application; no in-person presentations will be held. If the Town Council has questions about your application, you may be contacted by a staff member at a later date. Requests for parking passes and/or parking days must be included in the disclosure. Individual requests throughout the year, outside this process, will not be considered. When making your request, please keep in mind the town is experiencing uncertainty in its revenue levels and, therefore, is not planning to increase its contribution budget. ` If you have any questions on materials to be submitted, please do not hesitate to contact Penny Harpe, Accounting Tech., at 479-2104. Sincerely, TOWN OF VAIL CONTRIBUTION POLICY TOWN OF VAIL All contribution requests received by the Town of Vail will be processed in the following manner: A. All requests must be submitted in writing using the town's application for funding. You may submit financial information (Balance Sheet and Statement of Sources and Uses) ONLY IF it does NOT exceed 2 pages in length. Please do not attach additional information. Incomplete applications and supplemental information will not be accepted. THE TOWN COUNCIL WILL ONLY BE GIVEN YOUR COMPLETED APPLICATION FORMS. NO SUPPLEMENTAL INFORMATION WILL BE GIVEN TO THE TOWN COUNCIL. B. All applications for funding in 2004 shall be sent to the town by Thursday, July 31, 2003 by 5:00 P.M. C. The Town Council will evaluate the various proposals based on their direct benefit to the entire community of Vail, fulfillment of the town's mission, and how this contribution will affect our resort community's future health. The Town Council's mission statement reads: In order to be the premier mountain resort community, we're committed to providing citizens and guests with a superior level ofenvironmentally-sensitive services and an abundance of recreational, educational, and cultural opportunities. 2. Disclosures to all applicants: A. No money will be disbursed until March 1, 2004. B. Because of uncertainty of revenue estimates, please note the following possibilities: 1) Contribution funding may be reduced based on 2003 revenues. 2) The Town of Vail may choose to disburse funding in quarterly installments throughout 2004. C. Notification of awards will be sent after the Council approves the final budget currently scheduled for October, 2003. 2 APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thurs. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road West Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2104. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: The Vail Jazz Foundation, Inc. 2. Contact person: Howard L. Stone, Chairman of the Board of Directors 3. Mailing address: PO Box 3035, Vail, CO 81658 4. Telephone: 970-479-6146 5. Members and Titles of your governing board: Christine Richards-Carlson, Executive Director; John Clayton, Jr., Director of Education; Board of Directors: Howard L. Stone, Chairman; Cathy Stone, Secretary; Dr. Ken Blaydow; Ross Boyle; John. Clayton, Jr.; Andrea L. Grabow; Jerry Fredericks; Robert E. Ford; John W. Giovando; Dr. Willie L. Hill, Jr.; Chuck Holcomb; Mike Peak. 6. Amount of contribution requested: $90,000 and (2) Blue Parking Passes -one for 2003 (retro) and 2004 -for staff use. 7. Organization fiscal year-end: October 31, 2003 8. Are your books audited? No 9. How will the contribution be used? The requested funds will be used to support: (i) existing educational programs in the community such as Jazz Goes to School, the VJF Regional Big Band and the Vail Jazz Workshop ($15,000); and (ii) expansion of the 10`}' Annual Vail Jazz Festival with the booking of a "MAJOR HEADLINER" AND PERFORMANCES IN THE FORD AMPHITHEATER ($75,000). NOTE IF THE TOWN COUNCIL WILL NOT FUND AN EXPANSION OF THE VAIL JAZZ FESTIVAL IT SHOULD AUTHORIZE THE COMMISSION ON SPECIAL EVENTS TO CONSIDER AND ACT UPON OUR APPLICATION FOR SUPPORT FOR THE FESTIVAL IN 2004. EDUCATIONAL ACTIVITIES: Now in its sixth year, Jazz Goes to School offers an innovative and fully integrated approach to teaching music and social studies at the elementary school level. The program is presented free of charge by the VJF to all 4th and 5th graders (over ],000 students) in the public schools of :Eagle County, Colorado. One of the most gratifying results ofthe Jazz Goes to School program has been the development of a tremendous interest in jazz among the youngsters who have been exposed to the program. An outgrowth ofJazz Goes to School is the VJF Regional Big Band, which brings together middle and high school jazz musicians from Eagle, Lake, and Summit Counties in the greater Vail Valley region. Started by the VJF in February 2001, the Big Band expanded last year from a smaller ensemble originally formed by the VJF in response to the interest in playing jazz by students who had participated in the Jazz Goes to School program. This was a direct result of the development of an 3 interest in learning more about playing jazz among the students who have attended JGTS and Festival performances. As the Regional Big Band grows and gains the necessary experience and musicianship, the long term intention is for the VJF Big Band to reach a level of musical excellence so that it can perform at numerous public events in Vail and serve as a recruitment tool for other student musicians. The Vail Jazz Workshop is a residency program for 12 dedicated and talented high school students from around the US who come to Vail on full scholarships provided by the Vail Jazz Foundation, for 10-days to study jazz under accredited clinicians. EXPANSION OF THE VAIL JAZZ FESTIVAL: What started out nine years ago as an abbreviated Labor Day Weekend Party has evolved into asix-week long, world-class event that has developed a reputation for excellence and a proven track record. The Festival has grown from one weekend of jazz with attendance of 3 50 to a summer long festival, comprised of a unique series of performances at various venues in Vail. If funding is received and the Festival expanded in the summer of 2004, attendance at the Festival is projected to be over 20,000 with 20 separate performances presented throughout the summer -beginning with the Washington Prep Jazz and Marching band entry in the 4th of July parade and performances in Vail Village, continuing with seven (7) free outdoor concerts on Sunday afternoons at the Vail Farmer's Market, five (5) Jammin' Jazz Night Concerts in Lionshead (the series was suspended in 2003 because of a lack of funding by the TOV) and culminating with seven (7) performances as part of the Labor Day Weekend Jazz Party in Vail. Expansion ofthe Labor Day Weekend performances will include the booking of a major headliner (e.g. Diana Krall, Ray Charles, etc.) and the inclusion of performances at the Ford Amphitheater, projected to substantially increase attendance for this component of the Festival. If the requested funding is approved for the expansion of the Festival, the VJF will separately provide $150,000 of funding. 10. How does your request support item 1 C of the contribution policy? The Vail Jazz Festival provides important cultural events for six weeks during the summer with 17 performances. The Festival attracts many visitors to Vail during the non-ski season and brings many locals to town to experience high-quality jazz performances -over 15,000 people attended our performances during the summer of 2002. Attendance is projected to decline in 2003 due to the reduction in the scope of the Festival necessitated by a lack of funding from the TOV. The Festival contributes to the quality of life for those who live here, by giving locals the opportunity to see and hear the world's greatest jazz musicians, and enhances the overall Vail experience of many guests who enjoy the Festival while visiting. Additionally, our Jazz Goes to School program is a jazz music education program introduced in the Eagle County public elementary schools in 1998 and is now provided free of charge to all fourth and fifth graders in the public schools of Eagle County. The program fully integrates the study of jazz with social studies subjects and offers an innovative and fully integrated approach to teaching music and social studies at the elementary and middle school level. The Festival has no negative environmental impacts. The Festival is without a doubt an important cultural event that contributes to the quality of life for those who live in Vail and the many guests who visit Vail, without any negative environmental impacts. The TOV will receive a significant return on its investment because ofthe following tangible economic benefits that will be realized: (i) Over 80% of the attendees at past performances have been from out of town; (ii) Almost all of those in attendance over Labor Day Weekend travel to Vail specifically to attend the Festival and with an expansion into the Ford Amphitheater it is projected that will be a significant increase in attendance; (iii) Many Vail Valley visitors not staying in town visit Vail specifically to attend the Jammin' Jazz Night Concerts and the afternoon performances at the Village Market Series. (iv) Many locals who live "down valley" either stay in town after work or come into town to attend the Jammin' Jazz Night Concerts; (v) Spending by the attendees of the Labor Day Weekend Jazz Party produces significant retail sales and lodging expenditures that are completely event driven; and (vi) Spending by Vail Valley visitors who travel to Vail to attend the performances and "down valley" locals who attend the performances produces additional retail sales that are also completely event driven. The bottom line is therefore that support for the Festival leads to "heads in beds and retail sales." The profile of the jazz audience at the Festival matches the demographics for guests that Vail covets -over 50 years of age with a high disposable household income, relatively active lifestyle, and with no young children so that school 4 schedules do not impact vacation and travel decisions. With a significant portion ofthe Festival's performances presented at the end of the summer season, the demographic of the audience also matches the needs of the community. The Festival therefore not only attracts a large audience, but the right type of audience which has the spending power and flexibility to visit Vail when many "traditional" visitors are returning home because of "back to school" requirements. The attendees at the Labor Day Weekend Jazz Party are not only in town at the right time (having come to Vail for the event), but the demographics for this group is especially appealing with average household income over $120,000. Lastly, it should also be noted that there are long term benefits that accrue to the TOV from the Festival, which has successfully created an ambience of fun and that "cool feeling" that is associated with jazz, thereby enhancing the "Vail experience" for visitors and assuring that visitors enjoy their vacation in Vail and will return. 5 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all fgures to the nearest dollar. Please present inasmuch detail as possible. Most Recent Completed Fiscal Year Date: 10-31-02) Assets: Cash in Bank $10,182 Personal Property-Musical Instruments $10,550 Total Assets Liabilities: Total Liabilities Net Worth (Total Assets Minus Total Liabilities) Misc. Payable $ 104 $20,732 $ 104 $20,628 6 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Fiscal Year 2003 Budget Revenues: (List by funding source} Admission $ 43,600 Sponsorship 4 000 Individual Contributions 96,500 Business Contributions 26,000 Foundation Grants 36,500 Merchandise Saies 2,500 Silent Auction 4,000 Interest 100 TOTAL REVENUES $ 213,200 EXPENSES: JAZZ FESTNAL Labor Day Weekend Party $ 69,495 Weekend Performances 3,600 Advertising/Marketing/P.R. 24,445 Allocated Administrative Overhead 25,000 SUBTOTAL 122,540 EDUCATIONAL ACTIVITIES Vail Jazz Workshop 21,525 Jazz Goes to School 12,040 Allocated Administrative Overhead 12,500 SUBTOTAL 46,065 SPECIAL ACTIVITIES 4`h of July Float & Washington Prep H.S. Trip 3,600 Administrative Expenses Fundraising 1 750 Administration 39,024 SUBTOTAL 40,774 TOTAL EXPENSES $ 212,979 TOTAL REVENUES MINUS EXPENSE $ 221 7 k~ APPLICATION FOR TOWN OF VAIL FUNDING • GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: VAIL FARMERS' MARKET 2. Contact person: RICK SCALPELLO Mailing address: P.O. BOX 1978 Vail, Co 81658 4. Telephone: 970-479-1711 5. Members and Titles of your governing board: Rick Scalpello, Director Jonathan Staufer, Director Joe Staufer, Director 6. Amount of contribution requested: In-kind traffic control for TOV buses at Vail Road and Meadow Drive for each Sunday of the Vail Farmers' Market. Estimated cost: $5000 7. Organization fiscal year-end: December Are your books audited? NO 9. How will the contribution be used? In-kind traffic control for TOV buses at Vail Road and Meadow Drive for each Sunday of the Vail Farmers' Market. Estimated cost: $5000 10. How does your request support item 1C of the contribution policy? This uz-kind service will improve visitor satisfaction, increase their intent to return, cause them to spend more money in Vail and generate more sales taxes. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? Farmers' Market Vendor Fees, Meadow Drive Businesses/Landlords Contributions 12. Organization's mission statement: Attract foot traffic to Meadow Drive businesses (If more room is needed to answer questions, please use the back of this page.) 1 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year (Date: ) Assets: $ 0 Total Assets $ 0 Liabilities: $ 0 Total Liabilities $ 0 Net Worth (Total Assets Minus Total Liabilities) $ 0 2 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: $ (List by funding source) Farmers' Market Vendor Fees 12,500 Private Contributions 2,500 Total Revenue $ 15,000 Expenses: $ Market Operations 15,000 Total Expenses $ 15,000 Total Revenue Minus Expense $ 0 Town of Vail Council u~g.~au~ FOUNDATION Providing leadership in athletic, educational and cultural endeavors to enhance and sustain the quality of life in the Vail Valley Board of Directors President Gerald Pord Adam Aron ~ Judith BerkowStz Lena Black Marlene BOIL Bjorn Erik Borgcn James Berry-Craddock JacCc Crosby Andrew Daly William Esrey Harry Frampton, III Stephen Fri~man Getald Gallegos John Gamsey Gorge Gillett, Jr. Donna Giordano Pcpi Gtamshammer Steverabet Martha Head William Hybt Elaine Kelton Jack Kemp Robert Lashbrook Peter May - Pan~iciaBecplcs Fitzhugh Scott, Emeritus George Shaeffer , Michael Shannon Stanley Shuman Rodney Slifer Oscar Tang C[aig Tuber Stewart Tudev Alberto Vilar James Wear Cecilia Folz President 2001 Mountain Bike World Championships 1999 World Alpine Ski Championships 19941k~orld Mountain Bike Championships 1989 \Vorld Alpine Ski Championships AF_I U~orld Forum Americmr Ski Classic Citizen of the Year Awards Educatirnt Inidaaves FIS Alpine jK/arkt Cup Friends of Vail Gerald R. Ford Amphitheater Vilar I'nvilion Jerry €~ Betta Ford Arruans Golf Classic UCI Mountain Bike World Ciep Vail Ualley Fourakhton Scholarship Program Vaillnternatirmnl Dance Festivd Vilar Center For The Arts P.O. Box 309 Vait, Colorado 81658 970-949-1999 Fax 970-949-9265 auww.vvf.org. AColorado 501 (c) (3) Nonprofit Corporation July 29, 2003 Vail Town Council Town of Vail 75 South Frontage Road Vail, CO 81658 Dear Vail Town Council: Thank you for the opportunity to present the Vail Valley Foundation's 2004 grant request to the Town of Vail. The philosophical and- financial support provided to the Vail Valley Foundation gives us the opportunity to host great events and community programs that benefit all citizens of this valley. r ~ Included in our grant proposal is a request for cultural program support at a totaLof $72,500, cash. In addition, at the recommendation of Town of Vail, staff, we have submitted a request for in-kind support of our athletic endeavors. We will be approaching the Commission on Special Events for a cash contribution, the amount of which will be dependent upon Council decision on in-kind support: - Once again, with the full support of athletic programs, the Town of Vail will receive two Eagle Medallions in addition to the event specific benefits. - Thank. you again, and please call me at 949-1999, if I may answer any questions. Sincerely, urt Krieg Vice Presid Operations and Sales Cc: Pam Brandmeyer, Acting.. Town Manager APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Current Fiscal Year Budget Revenues: (List by funding source) Individual Contributions $ 2,765,000 36.8% Corporate Sponsorship $ 1,998,000 26.6% Ticket Sales/Event Fees $ 1,541,000 20.5% Corporate Trade Goods and in-kind services $ 854,000 11.4% Government Support (incl. BCRC) $ 240,000 3.2% Other Contributions $ 107,000 1.4% Total Revenue $ 7,505,000 100% Expenses: Athletics $ 2,789,000 37.2% Culture $ 1,691,000 22.5% General/GAP $ 997,000 13.3% Membership $ 728,000 9.7% Grants $ 651,000 8.7% Education $ 649,000 8.6% Total Expenses $ 7,505,000 100% Total Revenue Minus Expense $ - CULTURAL SPONSORSHIP GRANT PROPOSAL for the TOWN OF VAIL 2003 - 2004 STREET BEAT WINTER CONCERT SERIES 2004 VAIL INTERNATIONAL DANCE FESTIVAL 2004 GERALD R. FORD AMPHITHEATER presented by the VAIL VALLEY FOUNDATION APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of organization: Vail Valley Foundation 2. Contact person: Cecilia Fo1z, President 3. Mailing address: P.O. Box 309, Vail, CO 81658 4. Telephone: 970/949-1999 5. Members and titles of governing board: President Gerald R. Ford Adam Aron Judith Berkowitz Marlene Boll Erik Borgen Berry Craddock Jack Crosby Andrew Daly William Esrey Harry Frampton Steve Friedman Gerald Gallegos John Galvin John Garnsey George Gillett Donna Giordano Pepi Gramshammer Steve Haber Martha Head William Hybl William Jensen Elaine Kelton Jack Kemp Peter May Patricia Peeples George Shaeffer Michael Shannon Stanley Shuman Rodney Slifer Oscar Tang Craig Tuber Stewart Turley Alberto Vilar James Wear 6. Amount of contribution requested: $72,500 and in-kind support of $8,800. 7. Organization fiscal year-end: January -December 2004 8. Are your books audited: Yes -annually 9. How will the contribution be used: Please see attached information 10. How does your request support the Town outcomes identified in item 1 C of the contribution policy: A positive, sustained economic climate 11. Who currently funds your organization (other governments, private donations, user fees, etc.): Town of Vail, Town of Avon, Eagle County, Beaver Creek Resort Company, private donations and corporate sponsorships 12. Organization's mission statement: The Vail Valley Foundation is anon-profit organization dedicated to enhancing the spirit of the Vail Valley through athletic, cultural and educational endeavors. 2003 - 2004 STREET BEAT FREE WINTER CONCERT SERIES December 3-17, 2003; February 18-April 14, 2004 Street Beat, Vail's winter entertainment series provides an exciting and energetic opportunity for street parties, concerts and spectacular prize giveaways. Likened to the incredibly successful Hot Summer Nights, Street Beat offers mid-week outdoor entertainment for guests of the Vail Valley and locals alike. The inaugural season, 1999-2000 was extremely successful. Attendance exceeded everyone's expectations, drawing approximately 5,000 people to the season finale and bringing the season total to more than 30,000 attendees. Attendance in 2001-2002 exceeded the 2000-2001 season, credited to the relocation of the venue and better artist selection. In light of the increase, the 2002-2003 season was split to avoid the coldest part of the winter season. This proved to be a great success and the schedule will break again for January during the upcoming season. Every Wednesday night, a street party, concert and giveaway presentation will be hosted in Vail Village. From 6:00 - 8:OOpm, thematic parties and varying styles of music will showcase the Vail Valley as the premier ski resort. Our mission is to enhance the guest experience and increase the excitement of a Vail vacation, while encouraging locals to enjoy their community. While the spirit of the concert series revolves around community support and participation, a malt beverage company will claim entitlement to Street Beat and a Gold Sponsor will present and entitle the prize giveaway category. Local businesses will also assist with trade prizes and financial support. Street Beat is produced and organized by the Vail Valley Foundation. GENERAL TOWN OF VAIL BENEFITS • Added value to guests' and locals' experiences • Brings locals back into town on a day and time when they might otherwise not come SPONSORSHIP BENEFITS • Identification on all printed material (event brochures, posters, newspaper ads, etc.) • Venue Signage • Verbal and visual recognition at all concerts 2003 - 2004 WINTER CONCERT SERIES GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail consider a $27,500 cash contribution plus an in-kind donation of police and public works support valued at $6,000. 2004 VAIL INTERNATIONAL DANCE FESTIVAL AUGUST 2 - 11, 2004 In 2003, the Vail International Dance Festival celebrated its fifteenth anniversary of presenting world- class guest artists and exclusively produced productions. Since its inception in 1989, when the Bolshoi Academy first performed at the Gerald R. Ford Amphitheater, the Festival has grown to be recognized world-wide for its innovative and outstanding performances and educational programs. Highlights include the US debuts of Dou Dou Huang of the Shanghai Dance Company, Agnes Letestu and Jose Martinez, principal dancers with the Paris Opera Ballet and the first USA performances of Dimitry Gudanov and Anastasia Goriacheva, principals with the Bolshoi Ballet. The Festival supports the development of young choreographers and annually commissions new works to be world premiered in Vail, works that continue to live on in the repertories of major dance companies. A series of complimentary, informative and educational Dance Dialogues and Vail Village fringe appearances by visiting guest artists add depth and increased appreciation of the art form. Artists appearing over the years include the Bolshoi Ballet Academy, soloists from the famed La Scala Ballet, Paris Opera Ballet, Stuttgart Ballet, Royal Ballet of England, American Ballet Theatre, New York City Ballet, Ballet de Santiago and National Ballet of Canada, to name but a few. GENERAL TOWN OF VAIL BENEFITS • Added dimension to summer in Vail Positions Vail as an international center of cultural arts • According to independent surveys on destination visitation during 2001, 49% of respondents to said they came to the area for the event, and 73% had lodging in the Town of Vail. The surveys are conducted every three years, and the next data will be available in the summer of 2004. SILVER SPONSOR BENEFITS • Listing as Silver Sponsor of Vail International Dance Festival • Listing as Silver Sponsor on performance poster • Right to use the Vail International Dance Festival logo • Four (4) seats in Dress Circle for all performances • Four (4) VIP tickets to Vail International Dance Festival Gala • Four (4) invitations to social functions • Class observation opportunities 2004 VAIL INTERNATIONAL DANCE FESTIVAL GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail consider a $20,000 cash contribution. GERALD R. FORD AMPHITHEATER Summer Season 2004 As the amphitheater opens its gates for the third season in a beautifully remodeled facility, locals and guests of all ages flock to the theater for a diverse mix of entertainment. From the 2003 Hot Summer Nights series to the Bravo! Vail Valley Music Festival's symphonies, and hot performers like Norah Jones and B.B. King, the Gerald R. Ford Amphitheater serves as the cultural centerpiece of the Vail Valley. The Vail Valley Foundation aims to, once again, host top tier performances during its 2004 summer season! Bravo! Vail Valley Music Festival orchestras, Hot Summer Nights and the Vail International Dance Festival anchor the 2004 amphitheater schedule. Continuing with its incredible popularity, the Hot Summer Nights series will feature eight performances and will undoubtedly attract an average of 3,000 participants to each concert. In response to a request made by the Town of Vail, the Vail Valley Foundation will increase this concert series from seven performances to eight in 2004 GENERAL TOWN OF VAIL BENEFITS • Amphitheater productions showcase Vail as a premier summer resort • Provides the major venue for performing artists and special events in Vail • Programming policy ensures performance variety for Vail audiences • Convention use for summer conferences • Unique venue and programming sets Vail apart from other mountain resorts • Gaining regional and national recognition SUPPORTER BENEFITS • Identification as major contributor in the building of the Gerald R. Ford Amphitheater • Four (4) reserved seats at all Gerald R. Ford Amphitheater productions GERALD R. FORD AMPHITHEATER GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail consider a $25,000 cash contribution to help support a portion of the the Hot Summer Nights series and services provided to the community at the facility. We also ask fora $2,800 in-kind contribution for police presence during the Hot Summer Nights events. IN-KIND ATHLETIC SPONSORSHIP GRANT PROPOSAL for the TOWN OF VAIL 2003 BIRDS OF PREY 2004 THE SESSION 2004 AMERICAN SKI CLASSIC presented by the VAIL VALLEY FOUNDATION APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of organization: Vail Valley Foundation 2. Contact person: Cecilia Folz, President 3. Mailing address: P.O. Box 309, Vail, CO 81658 4. Telephone: 970/949-1999 5. Members and titles of governing board: President Gerald R. Ford Adam Aron Judith Berkowitz Marlene Boll Erik Borgen Berry Craddock Jack Crosby Andrew Daly William Esrey Harry Frampton Steve Friedman Gerald Gallegos John Galvin John Garnsey George Gillett Donna Giordano Pepi Gramshammer Steve Haber Martha Head William Hybl William Jensen Elaine Kelton Jack Kemp Peter May Patricia Peeples George Shaeffer Michael Shannon Stanley Shuman Rodney Slifer Oscar Tang Craig Tuber Stewart Turley Alberto Vilar James Wear 6. Amount of contribution requested: $17,000 in-kind support 7. Organization fiscal year-end: January -December 2004 8. Are your books audited: Yes -annually 9. How will the contribution be used: Please see attached information 10. How does your request support the Town outcomes identified in item 1 C of the contribution policy: A positive, sustained economic climate 11. Who currently funds your organization (other governments, private donations, user fees, etc.): Town of Vail, Town of Avon, Eagle County, Beaver Creek Resort Company, private donations and corporate sponsorships 12. Organization's mission statement: The Vail Valley Foundation is a non-profit organization dedicated to enhancing the spirit of the Vail Valley through athletic, cultural and educational endeavors. 2003 BIRDS OF PREY WORLD CUP RACES December 6 - 7, 2003 The Vail Valley Foundation is proud to announce its recent bid for the 2009 World Championships. The Foundation aims to bring all-three components of the Championships to the Vail Valley: Alpine skiing, Freestyle skiing, and Snowbarding. Alpine skiing, specifically the World Cup race, is an integral part of this bid, as it demonstrates the Valley's ability to support an event of this magnitude. The Foundation is proud to again host the Birds of Prey race, one of the most popular of the World Cup venues. The 2003 Birds of Prey Ski Festival will feature Men's World Cup Downhill and Super- G competitions on Beaver Creek's internationally renowned Birds of Prey course. Showcased during the 1999 World Alpine Ski Championships, Birds of Prey is widely recognized as one of the most technically demanding racecourses in the world. Action during the 2003 Birds of Prey Ski Festival will not be confined to the racecourse as special VIP hospitality and viewing areas, along with an array of public and private social events paint a festive backdrop for the competitions. The 1999 World Alpine Ski Championships attracted the largest crowds in U.S. ski racing history, with an estimated 125,000 people viewing the competitions during the two weeks of the event. The largest crowd of the Championships was generated by the Men's Downhill, when 20,000 people skied, snowshoed, and rode the free shuttle to the Birds of Prey finish stadium to see Hermann Maier strike gold. The alpine World Cup tour is one of the largest annual winter circuits in the world of sports, and is closely followed by both print and broadcast media. Likewise, the Vail Valley's annual World Cup events have emerged as one of the most extensively chronicled ski competitions in North America each winter. Over the past 16 years, Vail and Beaver Creek World Cup events have been televised by ABC, CBS, NBC and ESPN and numerous cable stations. The 2003 Birds of Prey Ski Festival will be no exception with two hours of scheduled programming on the ESPN and NBC networks. A one-hour Birds of Prey television special of the Men's Downhill race will air on NBC December 21, 2003 at 3:OOpm EST, reaching thousands during the holiday season. The Men's Super-G race will be showcased during a one hour ESPN special, airing on December 11, 2003 at 3:OOpm EST. International television coverage has also been extensive, reaching in excess of 200 million viewers worldwide each year. As in past years the coverage is expected to equal the following if not greater; finalization of international broadcasts and rights are pending: Seven (7) nations will broadcast live both the Downhill and Super-G races Four (4) nations will delay broadcast both the Downhill and Super-G races Fourteen (14) nations will do a magazine broadcast of the Downhill race Eleven (11) nations will do a magazine broadcast of the Super-G race Seven (7) nations will provide news feed In addition to television exposure, print and photo media have been well represented, both nationally and internationally, and World Cup alpine ski racing in the Vail Valley has established a broad base of support and exposure from all segments of the media. GENERAL TOWN OF VAIL BENEFITS • Two (2) hours national television coverage of the Vail Valley on the ESPN and NBC networks • International television coverage of the Vail Valley • Worldwide television audience • Visitation by more than 250 media members • Attracts large crowds to Vail/Avon/Beaver Creek • Community building with over 600 volunteers valley wide 2003 BIRDS OF PREY SKI FESTIVAL • Four (4) VIP credentials • Four (4) social invitations • Two (2) VIP gift bags • Recognition on all printed material 2003 BIRDS OF PREY SKI FESTIVAL GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail consider a $12,000 in-kind donation of public transit and ADA transit services. 2004 THE SESSION January 16 -18, 2004 "Three rails, three winners, one session" Vail and Beaver Creek have long been associated with the sport of alpine ski racing, dating back to 1983, when international competition returned to the Vail Valley, through the 1989 and 1999 World Alpine Ski Championships, and including today's classic Birds of Prey World Cup. In an effort to establish "Vail" brand loyalty with a younger demographic the Vail Valley Foundation created THE SESSION, a "circus-like" snowboard invitational adventure for thrill riders from across the globe, now in its second year (www.burton.com, 2003). The night skies, ahip-hop dee-jay in a three story tower, an incredible flame-thrower, and "a fireworks finale better than most cities' Fourth of July shows", served as an impressive backdrop for premier riders from around the world to be showcased in a made-for- television Fox Sports Net special (www.burton.com, 2003). While many national and international snowboard events reward the best riders in each discipline, this event features a combined format focusing on the overall title of an integrated course created from two distinct disciplines: Rails and Super Slopestyle. The first night of the 2003 competition featured three death-defying oversized rails on which the riders competed in a "jam session" format. The riders stepped up their performances on the second night of THE SESSION on the expertly designed Slopestyle course at Golden Peak. A cash purse of over $100,000, one of the largest prize purses in the industry, was awarded during the two-day event. GENERAL TOWN OF VAIL BENEFITS • One (1) hour national television coverage of Vail on the Fox Sports network • Visitation by more than 120 media members • Attracts large crowds to Vail/Avon/Beaver Creek • Community building with over 100 volunteers valley wide • Recognition on all printed material • Recognition on the official sponsor board 2004 THE SESSION SNOWBOARD INVITATIONAL GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail consider a in- kind donation of parking privileges at the village parking structure valued at $2,500. 2004 AMERICAN SHI CLASSIC March 17-21, 2004 The American Ski Classic is hosted by former President Gerald R. Ford and held annually in the Vail Valley since 1981. This weeklong celebration of the sport of alpine skiing literally offers something for everyone, both on and off the slopes. The American Ski Classic has for the past five years benefited the Christopher Reeve Paralysis Foundation. Since the inception of this partnership in 1999, more than $1,000,000 has been raised for the Christopher Reeve Paralysis Foundation's research. This year and for years to come the American Ski Classic is working with a national medical Foundation to raise funds for medical research. The selection of this new organization goes to further the efforts to retain raised monies locally and regionally, while benefiting a national cause. Former Olympic and World Champions will once again rekindle old rivalries in the Legends of Skiing downhill and giant slalom, spanning the decades of the sport from the 1950s to today. Names like Franz Klammer, Leonhard Stock, Billy Kidd, Cindy Nelson and Tamara McKinney fill the start order each year as over 30 of the greatest names in ski racing history reunite in the Vail Valley. A favorite of fans as well as participants, the Ford Celebrity Cup team competitions underscore the very essence of the American Ski Classic, celebrating the fun and enjoyment of the sports competition. Sponsor representatives have the unique opportunity to race with the Legends, and celebrities from the worlds of entertainment, sports, politics and corporate America. The event is rounded out with festive social events, concerts and street parties. GENERAL TOWN OF VAIL BENEFITS • One (1) hour of national television coverage for the Legends of Skiing and Ford Celebrity Cup races • Participation by more than 50 members of the national and international press/media • International event recognition • Recognition on all printed material • Recognition on the official sponsor board 2004 AMERICAN SHI CLASSIC GRANT REQUEST The Vail Valley Foundation kindly requests that the Town of Vail an in-kind donation of parking privileges at the village parking structure valued at $2,500. 6 APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: Vail Valley Chamber & Tourism Bureau 2. Contact person: Frank Johnson 3. Mailing address: 100 East Meadow Drive, Suite 34, Vail, CO 81657 4. Telephone: 477-4008 5. Members and Titles of your governing board: Steve Pope, Vail Daily (President); Brian Nolan, Blue Moose (Vice Chairman); Stan Cope, Lodge Tower (Secretary/Treasurer); Bill Anderson, Lions Square Lodge; Mike Brown, Avon Town Council; Bob Borg, Avon Business Association; Tim Cochrane, Eagle Valley Chamber of Commerce; Peggy Curry, Colorado Mountain College; Robert Dallain, Park Hyatt Beaver Creek; Jim Feldhaus, Colorado Mountain Express; John Garnsey, Beaver Creek Resort; Ghiqui Hoffman, Vail Chamber Business Association; Alan Holub, Minutrn Business Association; Bill Jensen, Vail Resorts; Bill Jewitt, Vail Town Council; Arn Menconi, Eagle County Commissioner; Tony O'Rourke, Beaver Creek Resort Company; Dave Pease, Marriott's Mountain Resort; Steve Shanley, Edwards Business Association; Beth Slifer, Slifer Designs. 6. Amount of contribution requested: $25,000 7. Organization fiscal year-end: December 31 8. Are your books audited? Yes 9. How will the contribution be used? See attached proposed uses 1 10. How does your request support item 1C of the contribution policy? The Vail Valley Chamber and Tourism Bureau is the only organization in the community with the stated purpose of "Improving the Conditions for Business Success." The programs proposed will have a direct result on the economic health of our resort community through improved visitor levels, improved service levels, and increasing the level of performance of our business community through educational opportunities. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? Contributions from partner dues, lodging partnerships as well as contributions from the Town of Vail, Town of Avon, Beaver Creek Resort Company, Eagle County, Vail Resorts. 12. Organization's mission statement: See attached materials. 2 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year (Date: 12/ 31 / 02) Assets: Checking/Savings Accounts Receivable Other Current Assets Fixed Assets Total Assets Liabilities: Current Liabilities Other Current Liabilities Total Liabilities 310,522.28 238,584.15 117,171.21 151,300.02 $ 817,577.66 154,195.80 451,526.29 $ 605,722.09 Net Worth (Total Assets Minus Total Liabilities) $ 211,855.57 3 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget(actual as of 12131/02) Revenues: $ (List by funding source) TOV Contract 675,284 Contributions 210,000 Commissions 470,483 Sponsorships 131,725 Co-ops, advertising and guides 646,268 Membership dues 354,242 Handling & Inspection fees 125,505 Event Revenue 11,349 LMD Funding 103,988 E-Commerce programs 54,940 BC Marketing Fund 85,767 Merchandise & concession sales 70,310 Interest Income 3,738 Other revenues 62,590 Total Revenue $ 3,006,189 Expenses: $ Personnel services & taxes 1,465,385 Vacation Guide Expense 242,291 Event Subcontracting 165,099 Seed Money 160,000 Co-op Expense 155,991 Public Relations 102,889 Event Expense 124,582 Rent & Utilities 86,495 Phone 83,105 Printing and Advertising 70,456 Website Mgmt 26,309 Depreciation 45,137 Other Operating Expense 284,307 Total Expenses $ 3,012,046 Total Revenue Minus Expense $ (5,857) 4 FUNDING REQUEST-Town of Vail The Board of Directors of the Vail Valley Chamber and Tourism Bureau is truly gratified by the participation of the Town of Vail in funding programs of the merged organization for the past two years of operation. There have been many successes, detailed on the following pages. The CTB has demonstrated that your investment, when leveraged with those of other stakeholders, partners, and other revenue sources, can produce dramatic results and progress toward the goals outlined in last year's discussions with you. An incremental funding requirement of $150,000 has been established, to be shared as follows: Fundin Partner 2003 investment 2004 re nest Town of Avon $20,000 $25,000 Town of Vail $25,000 $25,000 Eagle Coun Government $25,000 $25,000 Beaver Creek Resort Com any $25,000 $25,000 Beaver Creek Mountain O erations $25,000 $25,000 Vail Mountain O erations $25,000 $25,000 This funding will enable us to continue to grow the successful programs for which you helped lay the foundation in 2003. A complete analysis of achievements and specific programs that would be supported by your investment is attached. The formation of the Chamber and Tourism Bureau would not have been possible without your support, and it is only with your continued backing that we can provide the businesses of the Vail resort community with the tools and programs to improve their economic picture! 5 SIGNIFICANT ACHIEVEMENTS...2003 SIMPLIFICATION & COORDINATION / Finalized Purpose, Vision, Values, Goals...more "focus" for our efforts / Consolidated Visitor Services and Central Reservations operations for efficiency of guest service and more effective operation / Consolidated Partnership benefits and Business Development departments / Consolidated Avon office in Vail office location, saving $50,000 annually BUSINESS SERVICES / Expanded Business Benefits program o Discounted office products and furniture o Credit Card Processing o Pre-Paid Legal Services _ o Worker's Compensation Discounts and Dividend Group o Accident, Disability, Liability Insurance / Expanded communications activities o Viewpoint newsletter ...16,000 circulation quarterly o On-line Monthly newsletter...300 visits per issue o Blue Card Discount member to member discount program / Expanded Luncheon Educational programs...154 businesses/ 500 people / Added Breakfast Scrambler program...55 businesses participating/4 events / Produced/distributed "Moving to the Mountains" resource for those relocating to the area ECONOMIC ENHANCEMENT / Generated over 150 group meeting leads through June...$40M total value / Booked over $8.8 million in group meeting revenue / Booked over 1300 reservations...l8% increase over last year through June. / Finalized Pro Cycling Tour for Labor Day 2004 / Generated over 2400 visitors/month to VailonSale.com "short lead time" website / Began proactively marketing Conference Center to database of over 100 interested meeting planners EXPANDED SERVICE QUALITY ASSURANCE / Supported Turn it Up! fall customer service training for all communities(900 business owners and managers attended) / Expanded Premier Impressions staff recognition program to over 333 employees / Implemented test of Platinum Service program involving 56 businesses. . .recognized and rewarded 18 businesses for exceptional customer service / Expanded Lodging Quality Assurance program to over 3500 units throughout resort 6 2004 KEY I1~TITIATIVES SUPPORTED BY THE TOWN OF VAIL INVESTMENT Your investment of $25,000 will support the following specific programs to be implemented or enhanced in 2004 ECONOMIC ENHANCEMENT.. . ^ $S,000...Sponsor Educational programming to improve the skills of existing business owners: o Retail Series ^ What Makes Shoppers Buy ^ Secrets to Visual Merchandising ^ Effective Suggestive Selling o Additional topics ^ $S,000...Develop Retail Improvement plan with Vail Chamber and Business Assn. ^ $S,000...Expand Event Recruitment effort to attract additional icon events EXPANDED SERVICE QUALITY ASSURANCE ^ $S,000...Expand Premier Impressions program ^ $S,000...Expand Platinum Service program to more businesses On behalf of the 900 businesses that support the Vail Valley Chamber and Tourism Bureau's programs through their voluntary dues investment, we appreciate your continued support of our efforts to help businesses succeed. 7 Our Purpose TO IMPROVE THE CONDITIONS FOR BUSINESS SUCCESS. Our Vision THE VAIL VALLEY CHAMBER AND TOURISM BUREAU IS RECOGNIZED AS THE ORGANIZATION DEDICATED TO LEADING THE ECONOMIC VITALITY OF THE COMMUNITY BY: / SETTING NEW STANDARDS FOR REGIONAL COOPERATION & COLLABORATION AMONG OUR STAKEHOLDERS, INCLUDING AREA BUSINESSES, GOVERNMENT ENTITIES, AND PRIVATE ORGANIZATIONS / ATTRACTING AND RETAINING CUSTOMERS / PARTNERING WITH AREA BUSINESSES TO ENHANCE THEIR LEVEL OF SUCCESS WE EFFECTIVELY OPERATE THROUGH SELF SUSTAINING BUSINESS AND MARKETING PROGRAMS AND FINANCIAL PARTNERSHIPS WITH OUR STAKEHOLDERS GOALS 1. Improve economic opportunity for all member businesses 2. Increase the number of visitors to the area 3. Reduce the cost of doing business in the community 4. Improve the financial viability of the Chamber & Tourism Bureau 8 z Shaping The Future of the Eagle Valley: A course in Economic Prosperity, Social Equity, and Environmental Health Proposal to the Town of Vail Eagle Valley Alliance for Sustainability PO Box 4923 Vail, CO 81658 (970) 479-2440 Contact: Adam Palmer, Director Board of Directors: President: VP/Secretary: Craig Tate Kim Langmaid Holy Cross Energy GRNSS Executive Director PO Drawer 2150 PO Box 250 Glenwood Springs, CO 81602 Red Cliff, CO 81649 ctate@holycross.com kiml@gorerange.org Treasurer: Arn Menconi Eagle County Commissioner PO Box 850 Eagle, CO 81631 am@vail.net Additional Board Members Ron Rasnic John Gitchell Eagle County Landfill Eco-Products, Inc. PO Box 250 PO Box 7 Eagle, CO 81631 Vail, CO 81658 rrasnic@eagle-county.com jeanjohn@vail.net Michael Andruzak Cindy Cohagen Waste Management Eagle Valley Land Trust 11277 Highway 131 PO box 476 Wolcott, CO 81633 Edwards, CO 81632 michael.andruzak@awi.com ccohagen@evlt.org Mauri Nottingham Bill Carlson EVCF Town of Vail Environ. Health Specialist PO Box 726 75 S. Frontage Rd Edwards, CO 81632 Vail, Co 81567 maurinottingm@juno.com bcarlson@vailgov.com Amount requested: $4800 Fiscal Year-end: December 31 Our books have not been audited since our reorganization, but we will be having an audit completed this fall. Gross revenue for 2002 was $67,840 (see P/L and Balance sheets). • How will the contribution be used? Funds will be used to assist with the costs of the Shaping the Future of the Eagle Valley course (SFEV). Such costs include materials, printing and copyright fees, advertising, and stipends for presenters. Supplementary funding is imperative in order to keep course fees reasonable to meet our_goal: participation from a wide range of residents in Vail and surrounding Eagle County communities to address environmental, economic and social issues. Background: Shaping the future of the Eagle Valley (SFEV) was originally developed in 2002 with the fmancial support of the Environmental Protection Agency. Designed to address the need for more cohesive decision-making within Eagle County, SFEV provided a means to promote communication and education among local decision-makers. The course was a resounding success, and empowered various participants to take local initiatives. In wake of the original course, three participants were elected to office and several others ran. More than six of our participants became involved with the One Valley Leadership Coalition and many were active in promoting ballot initiatives for the last election. Members of the course also helped create an indicator report that is invaluable to decision-making throughout Eagle County. Due to the success of the first SFEV course, Colorado Mountain College agreed to sponsor a second course in January of 2003. The ultimate goal was to cultivate the realization of a more livable Eagle Valley by encouraging open dialogue, long-term vision, and bolstering civic energy. Although the content was similar to the first course, the target audience was diversified to include wider participation from local residents, providing breadth and depth to the original course. The last session spawned productive dialogue and provided participants with new contacts, deeper understanding of social, economic and environmental issues, and exposed them to case studies from similar communities. Statement of NeedBenefit In response to the success of the past two sessions, Colorado Mountain College has agreed to sponsor the third SFEV course, a weekly ten-session course beginning in January of 2004. The last SFEV session realized a loss of $5600 (see attached budget). While we will be increasing tuition and trimming some costs of the course, we are expecting a deficit of $4800 in order to keep tuition below $200. We feel this is necessary because the course is geared to bolster civic involvement. By pooling the expertise of local leaders, and broadening the scope of understanding between local people and decision-makers, we will promote collaboration, understanding, and more effective decision-making in Eagle County. Through dynamic presentations by local and regional experts in the field of economics, social welfare and the environment, participants will gain knowledge and skills that will assist them in contributing to solutions-based discourse within Vail and surrounding communities. Furthermore, this course will provide participants with the contacts, and tools to actively sustain the quality of life we enjoy, through individual, grass roots, and political actions. By strengthening the links between economy, environment and society, residents of Eagle County can help shape our communities to be more sustainable. Support of item 1C: The Shaping the future of Eagle Valley course is invaluable to the Vail community, and consistent with the mission of the Vail Town Council. Not only does it provide a tremendous educational opportunity for Vail residents, the information base and networks it fosters are an asset to the Town of Vail. Emphasis is placed on breaking down cultural and economic barriers through examining the social, environmental and economic trends that shape our community. Residents and business owners who participate in the Shaping the Future Course will be able to make informed decisions that will help achieve a superior level of environmentally sensitive service, while sustaining the exceptional quality of life we experience living in the community of Vail. Unrestricted EVAS funding sources: Eagle County Holy Cross Energy Eagle Valley Community Fund 5th District Court Membership dues Fundraising events Ski-scraper sales Restricted .project funding/by contract: Town of Vail Vail Resorts Environmental Protection Agency, Region VIII EVAS Vision: Community in Balance EVAS Mission Statement: The Eagle Valley Alliance for Sustainabiliry works to promote a healthy natural environment, a prosperous economy, and equitable community to improve long-term quality of life for citizens of Eagle County, Colorado. Asa 501(C)3 non profit, EVAS promotes sustainable practices, targeting the areas deemed in most need of attention. Our focus areas are recycling, energy efficiency/renewable power, and green building. Sincerely submitted, <~j" ~ Adam Palmer EVAS Director Shaping the Future of Eagle Valley Course Spring 2003 Income and Expenses Income Revenue: 40 participants @ $125 $5,000.00 Total Income: $5,000.00 Expenses Peter Hart ($15 per hour for 418 hrs) $6,270.00 Supplies 453.66 Copying 1,286.54 Books (Executive Compass) 24.95 (copyright for 35 handouts) 572.98 Refreshments 210.41 Brochure (design & Printing) 1,000.00 Ad Vail Daily (4 X) 520.00 Peter Pollack (presenter) Stipend 200.00 Peter Pollack Travel 82.28 Total Expense: $10,620.82 Net Profit (Loss): ($5,620.82) 4 Post Office Recycling Proposal for the Town of Vail Eagle Valley Alliance for Sustainability PO Box 4923 Vail, CO 81658 (970) 479-2440 Contact: Adam Palmer, Director Board of Directors: President: Treasurer: Craig Tate Arn Menconi Holy Cross Energy Eagle County Commissioner PO Drawer 2150 PO Box 850 Glenwood Springs, CO 81602 Eagle, CO 81631 ctate@holycross.com am@vail.net VP/Secretary: Kim Langmaid GRNSS Executive Director PO BOX 250 Red Cliff, CO 81649 kiml@gorerange.org Additional Board Members Ron Rasnic John Gitchell Eagle County Landfill Eco-Products, Inc. PO Box 250 PO Box 7 Eagle, CO 81631 Vail, CO 81658 rrasnic@eagle-county.com jeanjohn@vaiLnet Michael Andruzak Cindy Cohagen Waste Management Eagle Valley Land Trust 11277 Highway 131 PO box 476 Wolcott, CO 81633 Edwards, CO 81632 michael.andruzak@awi.com ccohagen@evlt.org Mauri Nottingham Biil Carlson EVCF Town of Vail Environ. Health Specialist PO Box 726 75 S. Frontage Rd. Edwards, CO 81632 Vail, Co 81567 maurinottingm@juno.com bcarlson@vailgov.com ~'. l4~ • ~ Amount requested: $480 Fiscal Year-end:. December 31 Our books have not been audited since our reorganization, but we will be having an audit completed this fall. Gross revenue for 2002 was $67,840 (see P/L and Balance sheets). How will the contribution be used? EVAS has recently set up recycling containers in the Vail post office lobby area for box holders and postal patrons to use. The waste streams recycled are office paper mix, newspaper, and magazines. Recycling at the post office is an ideal location for recycling since it is the source for which most Vail residents receive the items, as well as visit on a regular basis to recycle any unwanted materials accepted there. EVAS has worked with post office staff to address any issues with the containers, how they will be serviced, etc. We have set up service from BFI (now Waste Management) to empty up to six containers once per week at a cost of $40 per month, or $480 annually. This is a discounted rate for a community recycling project. The Vail post office has agreed to maintain the recycling and have them serviced weekly, but has no funding to pay for the service, and would not be able to transport or empty the recycling toters at the community drop-off (which would not have the capacity). Since Eagle County currently covers all of the associated costs for the Vail recycling drop-off center, we are requesting the Town of Vail cover the nominal cost of post office recycling since it is a Vail community center, although it is staffed and managed federally. The post office lobby is an ideal location to recycle mail items, however, without funding the opportunity will be lost. If given funding for the recycling containers, signage that attributes Town of Vail for the recycling service will be attached to the recycling containers at the post office, as well as a press release in local media. In Eagle County roughly 6% of our waste is recycled, sending roughly 100,000 tons of trash to the landfill each year.. That is enough to fi1140-yard trash containers lined up end-to-end from Vail to the Utah border. Finding ways to reduce waste and recycle and fundamental values that support the Town of Vail's mission statement, and the recycling service is a convenient amenity that benefits all Vail residents. Unrestricted EVAS funding sources: Eagle County Holy Cross Energy Eagle Valley Community Fund 5th District Court Membership dues Fundraising events Ski-scraper sales Restricted project funding/by contract: Town of Vail Vail Resorts Environmental Protection Agency, Region VIII EVAS Vision: Community in Balance EVAS Mission Statement: The Eagle Valley Alliance for Sustainabiliry works to promote a healthy natural environment, a prosperous economy, and equitable community to improve long-term quality of life for citizens of Eagle County, Colorado. As a S01(C)3 non profit, EVAS promotes sustainable practices, targeting the areas deemed in most need of attention. Our focus areas are recycling, energy efficiency/renewable power, and green building. Sincerely submitted, ~,<, ~~ Adam Palmer EVAS Director EVAS Profit & Loss osl24/os January through December 2002 Jan -Dec '02 Ordinary Income/Expense Income Contributions Income Restricted 9,375.00 Unrestricted 20,475.23 Total Contributions Income 29,850.23 Grants 24,500.00 Program Fees 13,490.00 Total Income 67,840.23 ' ' Expense Bank Service Charges 99.50 ' Contract Labor 276.25 Dues and Subscriptions ~ 55.00 Licenses and Permits 55.00 Office Supplies 338.95 ' Payroll Expenses 35,350.54 Postage and Delivery 75.00 Professional Fees Accounting 647.91 Professional Fees -Other 808.61 Total Professional Fees 1,456.52 Program Expense 24,096.64 Supplies Marketing 174.51 Supplies -Other 23.36 Total Supplies 197.87 ' Travel & Ent Meals 32.35 Total Travel 8 Ent 32.35 Uncategorized Expenses 0.00 Total Expense 62,033.62 Net Ordinary Income 5,806.61 Other Income/Expense Other Income Interest Income 223.71 Total Other Income 223.71 Other Expense Other Expenses 37.64 Total Other Expense 37.64 Net Other Income 186.07 Net Income 5,992.68 Page 1 EVAS osl2a/o3 Balance Sheet i As of December 31, 2002 Dec 31,'02 ASSETS Current Assets Checking/Savings checking 26,979.96 Total CheckinglSavings 26,979.96 Total Current Assets 26;979.96 TOTAL ASSETS 26,979.96 LIABILITIES 8 EQUITY Equity Opening Bal Equity 20,987.28 Net Income 5,992.68 Total Equity 26,979.96 -TOTAL LIABILITIES 8 EQUITY 26,979.96 Page 1 e Energy Efficiency and Renewable Incentives Proposal for the Town of Vail Eagle Valley Alliance for Sustainability PO Box 4923 Vail, CO 81658 (970) 479-2440 Contact: Adam Palmer, Director Board of Directors: President:. Treasurer: Craig Tate Arn Menconi Holy Cross Energy Eagle County Commissioner PO Drawer 2150 PO Box 850 Glenwood Springs, CO 81602 Eagle, CO 81631 ctate@holycross.com am@vail.net VP/Secretary: Kim Langmaid GRNSS Executive Director PO BOX 250 Red Cliff, CO 81649 kiml@gorerange.org Additional Board Members Ron Rasnic John Gitchell Eagle County Landfill Eco-Products, Inc. PO Box 250 PO Box 7 Eagle, CO 81631 Vail, CO 81658 rrasnic@eagle-county.com jeanjohn@vail.net Michael Andruzak Cindy Cohagen Waste Management Eagle Valley Land Trust 11277 Highway 131 PO box 476 Wolcott, CO 81633 Edwards, CO 81632 michael.andruzak@awi.com ccohagen@evlt.org Mauri Nottingham Bill Carlson EVCF Town of Vail Environ. Health Specialist PO Box 726 75 S. Frontage Rd. Edwards, CO 81632 Vail, Co 81567 maurinottingm@juno.com bcarlson@vailgov.com 9 .., Fiscal Year-end: December 31 Our books have not been audited since our reorganization, but we will be having an audit completed this fall. Gross revenue for 2002 was $67,840 (see P/L and Balance sheets). Amount requested: $25,000 How will the contribution be used? Funds will be used to implement improved energy efficiency and renewable energy generation in both private and public buildings within the Town of Vail. Through incentives, rebates, and proposals for projects approved by an EERI board, the funds will be put back into the community for projects that have a favorable return of investment, benefit the most number of Vail residents, as well as reduce on- or off-site environmental impacts. Additional partners and matching funding will be sought after to expand the program and its community benefits. EERI establishes an opportunity for the Town of Vail to reduce waste and foster its own sustainability. Statement of NeedBenefits: Environmental: The production, transportation, and consumption of energy are the root causes of many environmental problems, including acid rain, urban smog, regional haze, and climate change. A 4,000 ft home in our area will, in 50 years, use 600,000 pounds of coal and 12 million cubic feet of natural gas, creating 2.5 million pounds of CO2. That much pollution is equal to driving 100 times around the planet, and it will stay in the atmosphere for a century. Ten of the last 15 years have produced the warmest average global temperatures ever on record. An economy dependent upon tourism and skiing would obviously be in jeopardy from shorter ski seasons on less snow. Energy efficient homes and those that install renewable power systems on site can reverse this trend, meeting all their energy needs with little to no pollution. While changes made in Vail may not have a significant effect on global emissions, proactively supporting our commitment to preserve our pristine alpine environment is a fundamental value of our community and the Town of Vail. Economic: Energy efficient buildings, simply, have smaller utility bills. Aside from reduced environmental impacts, reducing monthly energy cost overhead is attractive to everyone's bottom line. In addition, all of the energy efficiency and/or renewable energy upgrades will be considered based on their return on investment. Wrapping water heaters with an R-6 insulating wrap, for example, pays for itself in 2 to 5 months, continually saving energy for the lifetime of the wrap. Such common-sense energy efficiency projects that continue to save the initial investment cost many times over will be of highest priority. Community: Energy efficient homes/workplaces generally are more comfortable, have improved indoor air quality, and promote a healthier quality of life. In addition, affordable housing with lower monthly utilities creates a more livable opportunity for low-income residents wishing to live in Vail. Energy efficiency upgrades in employee housing and/or affordable housing units allow for the facility to better meet its purpose and the community need. For the reason, project proposals for employee/affordable housing will be given higher priority for EERI funding. How would the money be spent? Funds would be placed in an account to fund local renewable energy or energy efficient projects. EVAS would manage the account. The money would be disbursed by an Energy Efficiency and Renewable Incentives committee composed of the EVAS Director, an EVAS board member, two representatives from the Town of Vail Community Development and/or Town Council, and either one or three Town of Vail residents. The criteria for funding would simply be to fund the projects that have the fastest return of investment and benefit the largest number of residents within the Town of Vail. To accurately gauge the return on a given project, an Energy-Star professional will be utilized to document the proposed actions and create a report on expected savings. The funds would go directly back into the community toward projects to increase energy efficiency, which will then indefinitely continue to pay dividends to the community environmentally, economically, and socially. The funds would be used for but not limited to: lighting retrofits, energy efficient appliance rebates, insulation/caulking/sealing, reset boiler thermostats, programmable controls, window replacement/upgrades, insulating window coverings, low-flow showerheads/sink aerators, solar hydronic systems, motion detecting switches, photovoltaic systems on public schools, micro-hydropower projects, etc. within the Town of Vail. Funding incremental upgrades for buildings to be constructed/during construction would be considered as well. To the extent possible, EVAS would leverage these funds with other grants and private capital to achieve expanded benefits to the community. Any funds received from the Town of Vail for this project would be considered seed funding to be matched with additional funds to expand the program. The Stepp Foundation, Eagle County, Holy Cross Energy, NWCOG, Colorado Energy Assistance Foundation, EPA, and others would be approached for partnering in the project. EVAS would use 1 Q% of received funds for administration, research, development of project proposals to the EERI board, marketing, promotion, and press release development. Upon receiving funding, EVAS would immediately offer free low-flow showerheads, free hot water heater insulating wraps (limited quantities), and energy efficient washer/dryer/refrigerator rebates at $100 each to Vail residents as additional projects are developed. EVAS unrestricted funding sources: Eagle County Holy Cross Energy Eagle Valley Community Fund 5th District Court Membership dues Fundraising events Ski-scraper sales Restricted project funding/by contract: Town of Vail Vail Resorts Environmental Protection Agency, Region VIII EVAS Vision: Community in Balance EVAS Mission Statement: The Eagle Valley Alliance for Sustainability works to promote a healthy natural environment, a prosperous economy, and equitable community to improve long-term quality of life for citizens of Eagle County, Colorado. As a S01(C)3 non profit, EVAS promotes sustainable practices, targeting the areas deemed in most need of attention. Our focus areas are recycling, energy efficiency/renewable power, and green building. Sincerely submitted, ~,=--t- Adam Palmer EVAS Director EVAS osn4/os Profit & Loss . January through December 2002 Jan -Dec '02 Ordinary Income/Expense Income Contributions Income Restricted 9,375.00 Unrestricted 20,475.23 Total Contributions Income 29,850.23 Grants 24,500.00 Program Fees 13,490.00 Total Income 67,840.23 ' ' Expense Bank Service Charges 99.50 ' Contract Labor 276.25 Dues and Subscriptions ~ 55.00 ' Licenses and Permits 55.00 Office Supplies 338.95 ' Payroll Expenses 35,350.54 Postage and Delivery 75.00 Professional Fees Accounting 647.91 Professional Fees -Other 808.61 Total Professional Fees 1,456.52 Program Expense .24,096.64 Supplies ' Marketing 174.51 Supplies -Other 23.36 Total Supplies 197.87 ' Travel 8 Ent Meals 32.35 Total Travel & Ent 32.35 Uncategorized Expenses 0.00 Total Expense 62,033.62 Net Ordinary Income 5,806.61 Otherlncome/Expense Other Income Interest Income 223.71 Total Other Income 223.71 Other Expense Other Expenses 37.64 Total Other Expense 37.64 Net Other Income 186.07 Net Income 5,992.68 Page 1 EVAS Balance Sheet o6r2aro3 ~ As of December 31, 2002 Dec 31,'02 ASSETS Current Assets CheckinglSavings checking 26,979.96 Total CheckinglSavings 26,979.96 Total Current Assets 26;979.96 TOTAL ASSETS 26,979.96 LIABILITIES 8 EQUITY Equity Opening Bal Equity ~ 20,987.28 Net Income 5,992.68 Total Equity 26,979.96 TOTAL LIABILITIES & EQUITY 26,979.96 Page 1 /D. Application for Town of Vail Funding G~~ INSTRUCTIONS All applications must be submitted to the Town of Vail by Thurs. 3uly 31, 2003 by 5:00 PM. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 S Frontage Read Vail, CO 81657 For the questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE TYIIS APPLICATION OR PRINT IN BLACK INK 1, Name of organization: Children's Garden of Learning, Inc. Z. Contact Person: Angela Mueller 3. Mailing Address: 3011 Basingdale Blvd. Vail, CO 81657 4. Telephone: 9'%0.476.1281 5. Members and Titles of your governing board: Laura Parker, President Deb F~lstrom, Vice Pres. Toni McCabe, Treas. Sue Weiss, Sec. Lone Caradonna ,Member at large Christina Lautenberg, Member at large Nancy Mast, Member at large 5. Amount of contribution requested: $5,000 7.Organiza~on fiscal year end: May 31 8, Are your books audited: Yes 9. How wdl the contribution be used: We are asking for a Title Sponsorship for Casino Night 2004.Ourfunds for Casino 2004 will be used for two items. We will use money for the purchase of new playground equipment for our school and we will use funds for staff development. This will allow the teachers to take the necessary classes to teach at au Accredited High Quality Program. 10. How does your request support item iC of the coutribn~ion policy? The economic climate of the school always has a small profit margin. We have been in the T4V for 30 years. We i+ecently merged two significantly different programs together to help the TOV with the Middle Creek Project. We have worked with the TOV on the Middle Creek Project for over two years. To maintain the highest quality we have become smaller. Children's Garden of Learning maintains the highest quality by: 1) Maintaining National Accreditation with the National Association for the Education of Young Children, 2} Working with mentors that help enrich our children, parents and teachers and 3}keeping programs like staff development, parental conferences, lectures and allow the staff constant educational opportunities. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? Personal family donations, alumni donations, Casino Sponsorships, Vail Valley Foundation, grants and Parents tuition 12.Organizations mission statement: The mission of Children's Garden of Learning is that we will create a partnership wiih parents and the community to continuously guide and nurture children's thoughts through: Focus on the use of natural materials Documentation of learning Continuous dialogue and collaboration Authentic emerging experiences Active Hands on learning Prepared By Joni Ciaymon Children's Garden of Learning, Inc. 7/30!03 Budget vs. Actual June 2003 -May 2004 Budget Jun 'OS - May 04 Operating hicome/Experus Operatng Ir~ome Mnual Regkttratlon Fees 8,200.00 Fumlraising Income Casino Night 18,000.00 Black ~ WgPoe Bag 6.500.00 Donations 6,100.00 FundnhNng Parcrrp 3,225.Op Topl Furrdraking Income 33,825.00 Grants 8,000.00 Tuftlon Income Extended Hour 10;785.00 Preschool 267,315.20 Sp1F BerNllp -6.359.00 Toddler 54,078.00 Top) TuMkan Income 325,619,20 Top! Income 376,844.20 Operatktg Expenses Adwrgsing 600.00 Bank Service Charyles 120.00 Dues and Subscriplbns 140.00 Empbyee Benetip Hearth insurance 5,126.02 SImpM IRA Employer 1,774.29 Ski Passes 8,278.00 SqR DevelopmsM 3,&50.00 Topt Empk>Yee Benefits 16,829.31 Food- groceries Food- SpHNightslWork Days 508.38 Food- groasrlss Paper supplies 6,31212 Top! Food- groceries 6,820.50 Funds&hrg Expense Cashro Night 2,585.89 Topl Fundraising Expense 2,566.89 Insurance Lphilitil Insurance 3,055.00 Workers Compensatlon 4,860.00 Top! hrsuraace 7,915.00 Janitorlsl Suppges 636.00 Lkensas aml Pennhs 720.00 Loan Repayment to TOV 10,000.00 OMlcs Supplk~s 3,000.00 Payroll Expenses 941 Taxes 18,800.28 Backgrarnd Checks 360.00 Ckiantng 6,82245 Director Salaries 69,351.88 Ofllce 3,000.00 FUTA -1,196.95 SUTA 4,321.19 TeachenrtAsslspnp 163,480.52 Total Payrog Expenses 264,937.37 Pospge and Osihrory 193.66 Properly Taxes 2,678.00 Pc~ased sy Joni Ctaymal Chiktren's 6an~ien of Learning, Inc. 7/30/03 Budge vs. Actual June 2003 -May 2004 Jun '03 -May 04 School 8uppllee 4,100.52 Telephone 144.30 Utllitles Electrk ~.~ Trash Removal 0.00 Water 300.44 Total Utilities X1.83 Web Pags 300.00 Total Expense 358,531.07 NetOperagng Income 17,313.13 RenovalioNRelocation Cosp: Additional payroll due to move 2,500.00 Lase of rownw -toddlers 6.157.00 Additional accountMg tees 1,000.00 General moWng costs 400.00 Architectural Fees 2,00000 Mechanical Fees 2,~•~ h~terlerExterlor Renovation 23,000.00 Tofal RenovationlRelocatbn Cosh 37,057.00 Net OperetinglRenovaUOn/Rebcatbnlncome ~19,743~87 //. APPt,iCAT1ON FOR 2004 TOWN OF VAIL FUNDING 1 1. Name of organization: 2. Contact Person: 3. Mailing Address 4. Telephone: 5. Board of Directors: The Skating Ciub of Vail Shawn Boris, Club Secretary P.O. Box 416, Vail, CO 81658 (970} 949-] 152 Amy Domke, President. Brenda Beairsto, Vice President/Membership Chair Shawn Boris, Secretary Robin Deighan, Treasurer Stephanie Harrison Demon Schronce Bobbi-Ann Houtsma 6. Amount of Contribution: The Skating Club of Vail requests the donation of 9 days of complimentary use of Dobson Ice Arena, and one day complimentary use of the Donovan Park Pavillion. The donation will be used for the following events: July 14-19, 2004: 6 days Dobson Arena late December, 2004: 3 days Dobson Arena The 23rd Annual Vail Invitational Fgure Skating Championships And The 2~d Annual Vail Mountain Fun Skating Competition for Beginning Skaters Holiday Ice Shows Apri12004: The Skating Club of Vait Annual Awards Banquet 1 day Donovan Pavillion 7. Fiscal Year. May 1 -April 30 8. The Skating Club of Vail is registered with the Internal Revenue Service as a 501(c) (3) corporation.. Our tax ID number is 84-0799]25. Amy Thomas of Bookkeeping Services, Inc. is contracted by the club to handle our accounting, to prepare our monthly and year-end financial statements, and to prepare our yearly income tax return. 9. Interest in competitive and show-style figure skating is at an all-time high and our club's membership is growing as well. This growth, coupled wi#h the rising cost of ice time, coaching costs, travel expenses and costumes, taxes our financial s#anding and places the sport of figure skating out of the reQCh of some interested. children. The Town of Vail's donation will be used to continue to develop the programs that benefit our members, the community and the guests of The Town of Vail. Specfically the donation of the use of Dobson Ice Arena will be used for The Vail Invitational, Mountain Fun 2004 and our Holiday Ice Shows, butthe money the club. saves on ice time will positively impact all club activities. The donation of the use of the Donovan Park Paviilion will allow our club to hold its annual award banquet in Vail- where a maiority of our club members five and work. 2 - The 23rd Annual Vatt tnviiationat Figure Skating Championships This skating competition serves as the major fundraising activity for The Skating Club of Vail. We have just finished hosting the 2003 VI, and if was a great success! The event brought 300 skaters plus their families, along with 75 coaches and 25 officials to Vail. We plan to bring The Vait tnvitattonal back next summer. The event brings skaters and their families to Vail fora 5 day period in July. These upscale families rent hotel rooms and condominiums. They dine in area restauran#s, shop in our stores, rent bikes, go to movies and thoroughly enjoy Summer Vail. Many skating families plan their summer vacations around The Vail Invitational. The Skating Club of Vail relies on funds raised from The Vait Invitational to purchase ice time at Dobson Arena, to pay the salary of our skating d'uector and to furthecthe activities of our club. During the Vail Invitational we use over 70 hours of ice time. Without your donation of low cos# ice our ice bill for the five days of the event would be nearly $10,000 and would virtually wipe out the fundraising aspect of the event. Ice time rates. at Dobson Arena are $145 per hour. SCV purchases an average of seven hours per week of ice at the rink, and we use The Vail Ice Dome when Dobson is not available. Our ice bills total over $4000 per month. Your donation of ice time increased the funds raised by The 2003 Vai- Invitational by $9000. All funds raised from this event are used to purchase ice time, pay the salary of our director, and to further develop our programs. Your grant for the 2004 year would impact the event and our budget in a similar manor. - Mountain Fun 2004 The Skating Club of Vail began a new Vail tradition this year when we held Mountain Fun 2003,. A Competition for Beginning Skaters on Sunday, July 20rn, immediately following The Vaii Invitational The event drew 137 beginning skaters, along with their parents, grandparents and coaches. These skaters are the future of our sport, and our competition. Events such as this are also the future of Vail. For many of these young families, it was their first trip to Vail and they had a wonderful weekend at the competition. The 2004 event is expected to draw additional entrants. Donation of an additional day of ice time at Dobson Arena will allow us to continue to hold, and improve, this event. - Holiday tce Show A holiday tradition, The Skating Club of Vail's Horday Ice Show showcases the talents of club members as well as area children enrolled in the Learn-To-Skate program held at Dobson Ice Arena. Over 60 area children were featured in last year's event and more are scheduled to perform this year. SCV members perform solo routines and large group productions. The Leam-To-Skate numbers bring tears to parent's and grandparent's eyes. Visitors to Val during the holidays make the Holiday tce Show an annual event for their families. 3 Dawn Ristow, director of The Skating Club of Vail, produces a professional type show with a very limited budget. Each year our expenses outpace our income from ticket sales. Costumes and ice time are our major expenses. Your donation of ice time would help the Holiday Ice Show to break eeren financially, and would allow "the show to go on." - Skating Club of Vail Annual Awards Banquet Each spring The Skating Club of Vail holds our annual awards banquet. Medals, trophies, plaques and ribbons are awarded to all club members. We currently hold this dinner at the. Eagle-Vail pavilion. The Eagle-Vail metro district donates the use of that facility. We wish to hold the 2004 Awards Banquet at the Donovan Park Pavilion as a majority of our members live in The Town of Vail and operate their businesses in Vail The donation of c®mpGmentary use of the facility wilt enable us to keep our costs low. 10. The Skating Club of Vail's funding requests support item 1 C of the contribution policy because they: a. Bring community activities to Vail. b. Provide activities for Vail's guests. c. Improve Vail's economic climate by bringing tourist's to Vail d. Support youth activities vital to Vail's children. The Skating C-ub of Vail is a positive addition to the Vait community. The Skating Club of Vail has been a member of The United States Figure Skating Association for 26 years. The club has been a part of Vail since 1976. SCV has been responsible for teaching figure skating to thousands of children throughout the years,. and presently has 70 members. Our skaters represent Vail when they compete in competitions throughout Colorado, the Rocky Mountain Region and in national and international competitions. Skaters from across the country come to Vail to hone their skills. Our club. has members from Chicpgo, Pennsylvania, Texas, Florida, Ohio, Illinois and New Jersey. These skaters spread the word about Vail and its facilities across the country. The Skating Club of Vail provides an athlefic and artistic outlet for children and adutFs throughout the Vait Valley. Figure skating appeals to athletes that do not choose to compete on a team, yet the club allows these members to be part of a group working towards similar goals. 11. The Skating Club of Vail is funded by: a. membership dues and fees b. funds raised by The Vail invitational and Mountain Fun c. a $2000 grant from The Vail Valley Foundation d. donations by club members 12. The Skating Club of Vail's mission is to support our members in their pursuit of personal and athletic excellence. As a member of the United States Figure Skating Association we share their organizational mission to encourage members in the sport of skating, as well as to develop a fraternal feeling among skaters. 4 Application For Town of Vail Funding Statement of Sources and Uses Revenues: Membership Awards Banquet WF Grant Vail Invitational Mountain Fun Test Fee Income Contributions Holiday Ice Show Income Ice Rental Income Family Skate Nights Video Sales Total Income Expenses USFSA Membership Fees Entry Fee/Scholarship Expense Awards Banquet Coaching Fees and Expenses Ice Rental Expense Holiday Ice Show Expenses Advertising Family Skate Night Expense Legal/Accounting/Office/Storage/Misc Testing Expenses Club Warm-Ups Special Classes Synchronized Skating Start-Up Costs Total Expenses Total Revenue Minus Expenses Fiscal Year Run 5/1/30 02-03 Actual 03-04 Anticipated $8,000 $8,000 $2,500 $2,500 $1,000 $2,000 $21,000 $25,000 $2,500 $735 $1,000 $6,800 $5,000 $7,500 $7,.500 $27,000 $30,000 $1,100. $1,000 $600 $500 $76,235 $0 $85,000 $1,000 $1,500 $230 $2,000 $3,300. $3,500 $17,500 $2Q,000 $28,000 $30,000 $16,000. $18,000 $55 $100 $530 $500 $3,700 $4,000 $45 $100 $4,000 $1,000 $4,oao $74,360 $84,700 $1,875 $0 $300 /.j APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of Organization: Ski & Snowboard Club Vail 2. Contact Person: Alix Berglund 3. Mailing Address: 598 Vail Valley Drive, Vail, CO 81657 4. Telephone: 970-476-5119 5. Members and Titles of your governing board: Brad Ghent- President, Glen Davis- Vice President, Tom Banner- Secretary, Phil Hoversten- Treasurer, Steve Avery, Larry Benway, Rocky Christopher, Barry Dorfman, Debra Duke, Chad Fleischer, Dave Flowers, Bi117ensen, Andy Littman, John McMurtry, Aldo Radamus, Pete Seibert, Patti Telling, Sandy Treat, Kevin Wall, Gib Watson. 6. Amount of contribution requested: Four days usage of the Dobson Ice Arena- October 28-31, 2004. 7. Organization fiscal year-end: April 30~' 8. Are your books audited? Yes 9. How will the contribution be used? We will use Dobson Ice Arena to hold our 35a' Annual Ski Swap. This event is often our largest fundraiser of the year and significantly contributes to our efforts to keep our programs affordable and thereby accessible to all members of our community. 10. How does your request support item 1 C of the contribution policy? This event, held during the off-season, attracts nearly 5,000 attendees to the Tawn of Vail each year. As one of the largest Swaps of its kind, this event provides a valuable amenity to both locals and visitors. By drawing so many people to town during an otherwise slow time of year, local businesses benefit as well. 11. Who currently funds your organization? 66%- program fees and earned event income 19%- fundraising events 15%- donations/grants 12. Organization's mission statement: "To provide youth the opportunity for character growth and excellence through athletics." ASSETS CurrcM Assets CheekinglSavings Cash & Cash Equivalents Restricted Cash Total Checking/Savings Total Accounts Receivable Prcpald Expenses Total Current Assets Fixed Assets Land BulHting Equipment Accumulated Deprcclation Total Fixed Assets Other Assets Building In Progress ScholarchlplnvestmeMs-Janus Total Other Assets TOTAL ASSETS LIABILITIES 8 EQUITY Llablittles Total Accounts Payable Other Current Llabilttles Unearned Revenue Axrued Expenses Due To Scholarship Fund Other Liabllttles Total Other Current LIabIlKles Total Current Llabllttles Total LlabilKles Equtty R/E General R/E Scholarship Fund R/E Capttal Fund Net Income Total Equtty TOTAL LIABILITIES 8 EQUITY UnaudKed -For Internal Use Only Apr 30, 03 173,007 6,713 179,719 26,636 30,481 236,836 5,000 254,730 80,961 (217,937) 122,753 191,870 11,617 203,487 663,076 37,338 400 59,742 43,571 27,780 131,493 168,831 168,831 (75,501) 43,571 289,783 136,393 394,246 583,076 Page 1 of 1 Jul'02-Apr 03 Ordinary Income/6xpense Income Program Revenue (Net of Expenses) 129,007 Fundraising Evsnts 199,756 Other Income 207,448 Total Income 536,210 Operating Expanses Accounting 29,110 AdvertisingfPromotlon 2,291 Auto Expense 29,497 Awards 1,142 Bad Debt 47,993 Bank Service Charge 1,801 Collection Expenses 233 Computer Expenses 9,767 Contract Labor 400 CrodR Card Commissions 3,613 Deproclatlon 11,788 Dlscourds 17,331 Dues/Subserlptlons 140 Eduptlonal Materials 259 Employee Benefits 100 EqutpmeM Expense 1,165 Equipment LeasslComputers 8,931 Insur~ce-Bldg-Bod 10,381 Irdereet Expense 898 - Late Fees 805 LlcenseslPermlts 114 Meetings 5,227 Miscellaneous 1,680 Office SupplleslExpense 12,931 Payroll Expenses S Related 148,793 Photocopy Expense 4,902 Postage 4,415 PHMIng 4 Professional DevelopmsM 173 Professional Fees 30 RepalmAnd Maintenance 10,918 Ski Wax And Tuning Supplies 461 Telephone 8,739 Training - Skling 321 Travel 988 Uniforms 500 Utllkles 3,479 Total Expense 381,319 Net Ordinary Income 154,891 Other IncomNExpense Other Income Unre~l2ed GalnsJlosses (4,461) Total Other Income (4,461) Other Expense P/Y Expenses Pald In Current Yr 14,037 Total Other Expense 14,037 Net Other Income (18,498) Net Income 136,393 Unaudited -For Internal Use Only Page 1 of 1 /.3 4 ~J APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, pleases contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK (' 1. Name of organization: ~ ~'I~, ~(,+~'~"C~(,4„ L,_ " ~`1 ~J G~ p0 ~ ~ ~/ I z-~~'L- 2. Contact person: ~~ ~ A C.~ Q~ , 3. Mailing address: ,~ . ,VI~K ~ ~~~ ~%~0~ a'D~~a ~ ~~~~ 1 ~j 4. Telephone: ~~~/) L.~ ~ ~ ~ ~ ~ ~ J~ 5. Members and Titles of your governing board: ~~`"~,~- ~ ~ ~ ~ ~ ~~.~"~ 6. Amount of contribution requested: ~ Q (~ ~ r1 ~ ~ a-~-Q,j~ p~ 7. Organization fiscal year-end: ~ ~~ ~ ~'~ ~~~ 8. Are your books audited? 1 - 9. How will t((he contribution be used? ~ AI ~ ~~ ~l ~ S C,~ po' ~C~I ~~tnti. C~I~~.S 10. How does your re uest su ort item 1C of the contribu on policy? d w S~ ~ off,-t~~ i~~ ~ ~^-~~s~ ~ ~ PQ ~, ~ S~ S~ ~ti . ~(~ D ~ ~ ~ o~~ ~ 11. " WYio c{~rrently fu- nds your organization (other governments, private donations, user fees, etc.)? 12. Organization's mission statement:: (If more room is needed to answer questions, please use the back of this page.) 3 Jun-17-2003 12:20am Fram-EAGLE COUNTY SCHOOLS 9703281024 T-023 P.002/005 F-846 ~~ ~ EAGLE COUNT:K SCHUO~. pIS7'itlCT RE 5[Id .. Combined l3alaace Sbeec All Fund T;~pes artd Account (w'rroups June 3Q, 2p02 (With Comparative Totalx for Juae 30, 20Q1) Govecameatai Fuad xypes Special Debt Capital +~eaerai Revenue service Projects Fuad Fuads Fund Fundy ASSETS AND OTHER DEBITS AsxcTS= 86,438 sh and cash invested $ 13,499,348 ~ $ C $ 6,447,443 $ 5,531,6G3 ^ a Due from other govzraments 367,519 125,020 lOS,290 Due from other funds S00' 109 669 36,185 793 1 472,?37 _ , , Accoun[s, taxes, and interrst receivable _ . inverttpry - _ - Froperty and equipment, net of accum°: dCpreciatio,a _ _ - _ prepaid iterns Other Debits: _ _ - Amount available in debt service fund Amount to be provtded far retirernznt of _ _ 8,eneral long-term obliganons ..~ - _ , T g9;fi4S ; ` $ 2~7;b43 Total assets and other iiebirs ~ ~;,1~,~ $ 7,OZ4,970 ~,.---.....^-. $ S,S3 1,663 LlA811-ITIES, EQUITY, AN1y OTHER CREDI'~'s Liabilipes: Accounts, retainage, arbitrage and deposits payable Accrued compensation Due to other funds Due m student clubs and other organizations Deferred revrnue Gcnrral Long-term obligations Total liabilities.. Equity and Other Credits: investment in general fixzd assets ` ' Contributed capital net of amortization Retained earnings Fund balances: ~ 7,024,970 698,294 Reszrved 1,-39,091 Unresetvcd .. _ 3,632,730 Drsi}ptatc~ti for subsequent yrar's cxpznditures 10,654,094 23,349" - - Undesignated - --- Total equity »ttd ether rrcdiiS 11,234~i,I35 23,349 7,024,470 4,331,0?4 247 b43 $ 7,034,970 $ S,S31,663 Total kabtlrttes, equity,.and other credits $ l6,IS9,b4S $ , The notes ro the financial r,tatcmcnts are ati uite~ral part .of this statcmet-t. 4 Jun-1T-2003 12:21 pm From-EAGLE COUNTY SCHOOLS 9703281024 T-023 P.003/005 F-848 ~iducit-ry Praprietxry Fuad Types Fund Type wccaunt Groups '~atals (Mcmorstnstnm duly) """ Internal General General Enterprise Service Agency t~'iaEed ppligatioas 2402 2081 Eu11dS Tnnd Fund Assets _ _ ^.. ~:... ,.~.-- $ - $ 650,845 $375,747 $ - $ - $ Zb,591,484 $ 33,214,691 _ 677,323 77U,U97 79,494 ~ - _ _ 500,109 113,?b4 _ 3,753 - - - 2,304,844 1,936,526 58,105 - - - S1s,105 69,Sb2 505,954 - - 105,091,?40 - 105,547,194 72,249,197 _ X2,035 - 7,(}24,970 7,024,970 b,782,058 _ - 77,373,204 77,373,204 82,047,336 _ _ ~~ 553 b43 ~ 598 $ 654 _~ $375 747 $105,091,240 $84,39$,174 $ 220,127,233 $ 197,235,258 $ , , - ~_, $ - $ - $ $ 2,293, 342 $ 4,917,108 $ 4,072 $ - - 3,291,473 2,920,867 - 500,309 113,764 4SS,859 - - - 375,747 334,955 - 375,747 - _ _ 61,b50 240,869 - = 174 398 $4 84,398,174 88,829,394 - _ , , . .~.,_, - 398 174 84 90,820,295 97,356,957 _ 459,931 _ 375,747 _ , , - IOS;©91,244 - 745,091,240 71,612,74y - - - 179,319 295,495 179,319 - - 658,901 1,135,812 4,303 654,598 - - - _ 8,962,355 10,113,126 _ _, __ ,.. 14,21,774 16,703,892 - - ., ... 23,349 17,17k _ 598 65 - 240 091 105 129,205,93$ 99,878,30? 183,622 4, , , 55 33 6 598 $ b54 747 $375 091,24Q $105 $ 84,398,174 $ 220,127,?33 $ 197,235,259 $ 4 ,, , , , g Jun-17-2003 12:21 pm From-EAGLE COUNTY SCHOOLS 9703281024 T-028 P.004/005 F-646 EwGLE coUNTX sCxQO~. AISTRICT ItE soJ ComlbiGt~ed Statem+~nt of lt,evenuc~ ~xpepditure~, and Chattges Ip Fund Ralaaees Atl Gavernpzental Fund'fyp~ Far the Year Ended 3upe 3U, Z~1Q2 tVYith 'Totals far taR Year Ended Jape 3U, 2QQl) General Fund R,~VENUES Taxes Grant income Interest income Other Total rcvcnuas $ 32,827,812 288,350 1,790,34(a 34,906,508 Speeial Revenge Feuds ~ 732,066 903,333 8b9,6i0 ?,504,009 ExPENDITURES Currznt: 20,888,450 9~2.Q4$ instruction Support services: ~ - ~ ~ 1,13 St55 ~ - Pupils Instructional staff 262,891 1,811,5b8 Q'CRCrdl adlnlAlSIiaTlOt1 565,152 - School administration - ` 2,873,340 Business administration -r _ .. ~34$3~ - :. .3;772;391. - :. . Opcrxaans and maintenance 'iYansporta(aon 1,872,270 Cenual admuwstraxion Cottut~unity service ," `.85;332 Debt Service: Principal , : , lnterest - Capital outlay Total exprt-ditures EXCESS (DEFICI$NCY) OF REVENUES ovER EXPENpITuRES OTHER FiNAN+~ING SOURCES (USES) Grating transfer, in Operat<nl; trazufrrs Qui Total other tinaneuig sources (ucs) 33,352,E I0 EXCESS tDEF1ClENC1~ OF R-~YENUES ANp OTHER F];NA,NCINC SOURCES OVER EXPENDiTURFS AN1Q OTi1tER FINANCING (USES; F(1Np BAl»ANiCES, AEGIPiNING FUND BALANCES, )E1VpiNG (574,578) (574,578) 496,578 496,578 6,171 17,178 $ 23,349 The notes to the financial statements ark an_irttcb,t'ai p~ of this ,taterr:ettt;. Debi Servi~~ Fupd $ 8,93?,SSA 8,937,555 4,543,329 4,151,317 8,694,646 242,912 242,912 6,71i2,05lS ~ 7,~24,97a 6 Jun-iT-Z009 12:21 pm From-EAGLE COUNTY SCHOOLS Capital Projects Tatnl~ (Mrmorxgdum UalY) Fwads 2002_ Z00~ $ 923,374 $ 43,430,81U $ 37,7b1,b9S 902,333 727, l 17 386,990 675,340 1,635,622 177,658 2,837,614 2,418,694 1,488,022 x+7,836,097 42,543,138 _ 2 },870,5.14 ` ': 18,279,450 - 1,135,551 _ 2,074,559 _ 565,15? _ 2,873,340 _ 348,34U _ 3,772,391 1,612,928 1,872.70 K5;333 . 4,543,329 - '4,15.I,317 6,744,27;8 6,880,827 b~744,27$ 51,?85,85Q 882,064 1>b3b,958 433,909 2,273,286 301,200 3,112,108 i ,328,7b3 1,231,2?0 ,•47,734 4,08I,4b3 r1;3S3,179 27,814,OA5 65,775;319 t5,2g 6) (3,949,'753] (23,232;211) 2,430,183 2,936,761 277,41 (1,959,148) (3,533,726) ('127,401) 035 47} 393,435 {45U,000) , (4,785,221) (3,556,718) {23;68?;?"11) 245 9 116 2b,834,}9b SO,Slb;4r37 , , 331,024 $ 4 23,277,47 $ $ 26,83'~,~~6 „ , _ 9709281024 T-023 P.005/005 F-646 7 ~, /Y. APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: ` ~,~~, ~-~ ~t ~ ~ ~~, ~ ~ g ~ ~ ~ ~~~ j ~ ~ : ~ ~ ~~ 2. Contact person: ~ ~ n L ~ ~~ J 3. Mailing address: ~ ~ ~,, ~ ~ Ste{ ~ ~ l ~ ~ ~ n ~ ~~ ~ 1b ~ r, ~ ~ (c I ~~ ~' 4. Telephone: Cj ~} _ E~ .~~ .e ~ ~ Cf ~' 5. Members and Titles of your governing board: ~ j 6. Amount of contribution requested: ~ _ ~ r ` ~ 'T~`.n..~~ ~~,~ p~~~ ; ` ~ ,, ~~~ ~~~,`,,~rC e f 7. Organization fiscal year-end: ,~'u ~; ~ u ~1 2.- 8. Are your books audited? ~ ~ 9. How will the contribution be used? '-~' .s E i ~ CG f'~~ts f,LrC ~ ~..i f L~~~ J~ ~ a 10. How does your request support item 1C of the contribution policy? !"~L~ ~, ~ ,~~ ;~~ ~ .v- "' U t ~`~ ? ~.''~i c ~~ ,,.,rte S ~~: ~~' r,~ l ~ r~-,°"'% o~-~~. ~... ~ ~ 2. ~J~ ~'~ y 11. Who currently ~iin l~,your organization (other governments, pnvate donatio s, user fees, / etc.)? ~~' ~. ~~`~ . ~~ ~' ~~ ~~~-->~ c ~~ `~rr~-~ ~ ~ !r ' ~ ~y,/~~ .~~c~.r.~~ 1 ~ ~/ ~ 12. Organization's mission sta~ment: (If more room is needed to answer questions, please use the back of this page.) 3 i APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Complet d Fiscal Year (Date: =}- 3 i ~ ~ ~ ) Assets: ~.~.~ $ ~ ~~ ~~- ~~J~~ ~ ~~~s~A == G~,~ J -~- ~ s~'~.~ l.i f..=~=i / f' uc.~~ / .~ Total Assets $ ~ ~ ~~ Liabilities: $ '-" ~ '~ Total Liabilities $ -' Q Net Worth (Total Assets Minus Total Liabilities) 4 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: (List by funding source) ~Cr^/~ ~/~~ !l,~ c~,;~sG/ ~' ~'~: i ,~ ,N--~ J'' ~J ~ s~~s Total Revenue ~t ~. 5 C~c> 1` ~~~ ~, $ ~~~ ~ ~ Expenses: $ ~G ~'~' ~ c NfSc ~iL; ~ ~ ~~~ Total Expenses $ ~.~i ~ ~ `~ Total Revenue Minus Expense $~ ~ ~ 5 ,~ G~\ V ,c? 1 ~ ~ er ~~ `~ ~ ~~~ .,- ~ ~~ .~ ~, ~ ~~ ~ ~ may{ `/ , ~' ~l ~ ii,, 11 ~~ _e 1~ f. ~ ~ '. C 5 ANNUAL VAIL `KING OF THE MOUNTAIN' OPEN Father's Day Weekend -Vail, Colorado TO: Vail Valley Commission on Special Events Town of Vail 1ZE: Structure, Infrastructure, and Mission Statement of King of the Mountain Volleyball To Whom It May Concern: King of the Mountain Volleyball is a business name that has been created to establish local validity as well as a checking account by which to funnel dollars (sponsors/entry fees/other miscellaneous) towards the production of the Annual Vail King of the Mountain Open - along-running tradition (31 years) in the Vail area. The Vail King of the Mountain Open is a doubles, beach volleyball Event which has been, and will be, Colorado's most exciting regional tournament; with along-term goal to re-establish national recognition, as well. The Event is produced by Leon Fell (Aspen, Colorado. Mr. Fell has the responsibility for all licensing, promotion/marketing, sponsorship sales, and overall production supervision for said Event. The majority of all production services are contracted to professionals who have extensive experience within this particular tournament concept - all of who come under the supervision of the Producer. Financially, the Event is set-up similar to anon-profit: i.e. income is channeled back into the tournament with a minimum of superfluous expenditures and a maximum of hard work to make the most of the dollars that it generates. The ultimate goal of the Event is to bring participants, and spectators, to the Vail area; not just for that particular weekend; but, rather, to acquaint them to the perquisites that Vail has to offer and to entice them to come back not only for the Tourney in subsequent years; but, also, at, other, different times of the year. The demographic that we are striving to attract is, primarily, athletic, and outdoors oriented 18 - 35 year old males, females, and couples who are either already in a moderate to higher income bracket; or, those who will soon have more expendable income. As well,•we are setting-up a program of promotion directly aimed towards the further development of youth involved in the sport and the families that support them. APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: Vail Valley Medical Center- 11th Annual Snowshoe ShuffleT"' 2. Contact person: Marty Suarez 3. Mailing address: Development/ Vail Valley Medical Center, PO Box 40,000, Vail CO 81658 4. Telephone: 970/569-7511 5. Members and Titles of your governing board: Snowshoe ShuffleT"" Organizing Committee is comprised of Vail Valley business leaders; the committee members vary year to year. 6. Amount of contribution requested: In-kind contribution of parking at Lionshead for thee Snowshoe ShuffleT"" race participants- estimated at $4,000. 7. Organization fiscal yyear-end: October 31 S 8. Are your books audited? YES How will the contribution be used? Snowshoe ShuffleT"' race participants and volunteers receive free parking at the Lionshead structure on April 10th, 2004. The TOV has contributed free parking to the Snowshoe ShuffleT"^ since 2000. 10. How does your request support item 1C of the contribution policy? The Annual Snowshoe ShuffleT"^ attracts approximately 1,000 participants, arriving from Eagle, Summit, Pitkin Counties, the Front Range, 26 other states, Canada and Europe. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? The Snowshoe ShuffleT^^ is supported by local, national and individual sponsors, as well as race participant entry fees. 12. Organization's mission statement: "A benefit for cancer prevention, education, detection and treatment." 4 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year Date: Tu1.~2003 Assets: $28,000 Race Sponsors $15,000 Race Participants Total Assets $43,000 (unaudited) Liabilities: $15,000 printing (flyers, brochures, T-shirts, signage, etc.) $150 postage $1,000 advertising $3,500 Community Dinner $2,300 cash awards $3,000 timing services $300 retail equipment Total Liabilities Net Worth (Total Assets Minus Total Liabilities) $25,250 $20,950 5 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: $35,000 Race Sponsors $15,000 Race Participants Total Revenue 50 000 Expenses: $15,000 $555 $1,000 $3,500 $2,000 $3,000 $300 Total Expenses printing (flyers, brochures, T-shirts, signage, etc.) postage advertising Community Dinner cash awards timing services retail equipment $25,355 Total Revenue Minus Expense $24,645 6 1# /~ APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail; Penny Harpe, Accounting Tech. 75 South Frontage Road;Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: Vail Family Carnival - (Vail Recreation District) 2. Contact person: Diane Johnson, VRD Youth Services Supervisor 3. Mailing address: VRD Youth Services, 395 East Lionshead Circle, Vail, CO 81657 4. Telephone: 479-2292 5. Members and Titles of your governing board: 1. Nino Licciardi: Chairperson 2. Julie Hansen: Vice-Chairperson 3. Peter Cook: Secretary/Treasurer 4. Hermann Staufer 5. Tom Saalfeld 6. Amount of contribution requested: $1500.00 + free participant parking in Lionshead Structure 7. Organization fiscal year-end: December 31 Are your books audited? Yes 9. How will the contribution be used? For event expenses only, i.~e., Event Contractor/Game Provider, advertising, decorations, prizes, etc. Does not go to personnel or associated support costs (see enclosed financial detail). Parking request maybe unnecessary pending 2003-04 parking plan decision. The Carnival starts at 2pm, so previously, most participants used Free After Three. If the plan is "Arrive After Five", or something ;>imilar, we request a validation be given to all ticket holders so they may support this event which occurs at non-prime times (Sunday afternoon in April). 10. How does your request support item 1C of the contribution policy? 1. Supports families by offering a fun, affordable event that allows all ages to participate. 2. Strengthens a high qualiity, recreational event on our annual community calendar. 3. Shows that Vail values and supports young people by supporting an event that showcases early childhood, young children and teens. Nearly fifty teenagers volunteer during the event and role model community involvement for school-age and pre-school children. The entire community benefits by inter-generational participation, mentoring and interaction. 4. Enhances sense of community by allowing both residents and guests to attend and socialize. 5. April date provides the community with a healthy, positive end-of-season celebration. ~~ a 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? 1. In General: VRD property owners and participant user fees 2. For the Family Carnival only: Donations (individuals, families and business sponsorships), Admission fees and fees paid at event for games, etc. 12. Organization's mission statement: The Vail Recreation District provides excellence in customer service and valuable experiences, which result in lifelong friendships. The Vail Family Carnival is meant to provide a positive annual family gathering for both residents and guests to celebrate the season and increase awareness of young people and families in the community. (If more room is needed to answer questions, please use the back of this page.) 4 ,~ APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year (Date: 12 /31 /02) Assets: $ From 2002 Event $865.00 (Entry Fees -games, etc.) $3108.00 (Admission Fees -Tickets) $5775.00 (Donations -14 sponsors including TOV ($1000) Vail Resorts ($2250) and additional in-kind) Total Assets $9748.00 Liabilities: $ 2002 Itemized Expenses: (see attached 2002 bud eg t report) $10,000.00 (Contractor Fees) $1,000.00 (Contract Labor) $300 (Contractor Lodging} $568.62 (Prizes) $180 (Food, Operating Supplies, Misc.) In-Kind (Advertising, Design and much more) NOTE: No staff salaries, hourly wages or other support costs are included in this account Total Liabilities $12,047.13 Net Worth (Total Assets Minus Total Liabilities) < 2 299> (Loss from 2002 event -without including salaries, hourly wages, etc.) 5 For the Twelve Months Ending December 30, 2002 4/22/03 VAIL RECREATION DISTRICT G/L MONTHLY DETAIL REPORT W ITH DEPT TOTALS PG 7 11:04am DESCRIPTION ACCOUNT NUMBER CUR MTH BUDGET CUR MTH ACTUAL CUR MTH PERCENT DOLLAR VARIANCE CUM YTD BUDGET CUM YTD C CUM YTD DOLLAR TOTAL YR TOTAL YR FAMILY CARNIVAL (continued): A TUAL PERCENT VARIANCE BUDGET PERCENT REVENUE: ENTRY FEES ADMISSION FEES DONATIONS CORP SPONSORSHIP REV 1-560-4320 1-560-4410 1-560-4540 1-560-4550 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00% 0.00% 0,00% 0.00% 0.00 0.00 0.00 0.00 1,500.00 9,000.00 5,500.00 1,500.00 865.00 3,108.00 4,775.00 1,000.00 57.67% 34.53% 86.82% 66.67% (635.00) (5,892.00) (725.00) (500.00) 1,500.00 9,000.00 5,500.00 1,500.00 57.67% 34.53% 86.82% 66.67% Total REVENUE 4??? 0.00 0.00 0.00% 0.00 17 500 00 9 748 00 55 70 , . , . . % (7,752.00) 17,500.00 55.70% EXPENSES: OPERATING SUPPLIES FOOD SUPPLIES PRIZES/AWARDS ADVERTISING PRINTING LODGING/HOUSING CONTRACT LABOR CONTRACTOR FEES POSTAGE/SHTPPING 1-560-5300 1-560-5302 I-560-5364 1-560-5430 I-560-5432 1-560-5454 1-560-5500 1-560-5502 1-560-5530 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0,00% 0,00% 0,00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 250.00 150.00 600.00 1,000.00 250.00 0.00 500.00 10,000.00 175.00 107.91 30.00 568.62 0.00 10.80 300.00 1,000.00 10,000.00 29.80 43.16% 20.00% 94.77% 0.00% 4.32% 0.00% 200.00% 100.00% 17.03% (142.09) (120.00) (31.38) (1,000.00) (239.20) 300.00 500.00 0.00 (145.20) 250.00 150.00 600.00 1,000.00 250.00 0.00 500.00 10,000.00 175.00 43.16% 20.00% 94.77% 0.00% 4.32% 0.00% 200.00% 100.00% 17.03% Total EXPENSES 5??? 0.00 0.00 0.00% 0 00 12 925 00 12 047 13 . , . , . 93.21% (877.87) 12,925.00 93.21% TOTAL FAMILY CARNIVAL 0.00 0.00 0.00% 0.00 4 575 00 (2 299 13) 50 25% , . , . . _ (6,874.13) 4,575.00 50.25% SUMMER PROGRAMS REVENUE: RETAIL SALES PROGRAM FEES CAMP FEES CORPORATE SPONSORSHIP R 1-570-4100 1-570-4300 1-570-4350 L-570-4550 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0,00% 0.00% 0.00% 0.00% O.QO 0.00 0.00 0.00 600.00 5,500.00 8,250.00 1,000.00 0.00 5,070.00 8,994.00 0.00 0.00% 92.18% 109.02% 0.00% 600.00 ( ) (430.00) 744.00 (1,000.00) 600.00 5,500.00 8,250.00 1,000.00 0.00% 92.18%a 109.02% 0.00% Total REVENUE 4??? 0.00 0.00 0.00% 0 00 15 350 00 14 064 00 . , . , . 91.62% (1,286.00) 15,350.00 91.62% EXPENSES: OPERATING SUPPLIES FOOD SUPPLIES CGS/VENDING PRIZES/AWARDS PLAY EQUIPMENT 1-570-5300 1-570-5302 1-570-5354 1-570-5364 1-570-5384 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00% 0.00% 0.00% 0.00% 0.00% 0.00 0.00 0.00 0.00 0.00 750.00 200.00 300.00 100.00 150.00 738.70 150.34 0.00 0.00 85.00 98.49% 75.17% 0.00% 0.00% 56.67% (11.30) 49.66 ( ) 300.00 ( ) (100.00) 65.00 ( ) 750.00 200.00 300.00 100.00 150.00 98.49% 7s.17% 0.00% 0.00% 56.67% APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget 2003 Event -held 4/13/03 Revenues: $ (List by funding source) $854.00 (Entry Fees -games, etc.) $4365.00 (Admission Fees -Tickets) $2950.00 (Donations -15 sponsors including TOV ($500) Vail Resorts ($500) and additional in-kind) Total Revenue $8,169.00 Expenses: $ 2003 Itemized Expenses: (see attached 2003 budget report dated 7/14/03 $8,080 (Contractor Fees) $1,080 (Contract Labor) $510 (Marketing& Sponsor Solicitation) $403 (Prizes) $329 (Food, Operating Supplies, Misc.) In-Kind (Advertising, Design, Lodging, etc.) NOTE: No staff salaries, hourly wages or other support costs are included in this account Total Expenses $10,402.08 Total Revenue Minus Expense <$2,233> (Loss from 2003 event -without including salaries, hourly wages, etc.) 6 For the Six Months Ending June 30, 2003 VAIL RECREATION DISTRICT PG 6 7/14103 G/L MONTHLY DETAIL REPORT WITH DEPT TOTALS 11:08am i DESCRIPTION ACCOUNT NUMBER CUR MTH B CUR MTH CUR MTH DOLLAR CUM YTD CUM YTD CUM YTD DOLLAR TOTAL YR TOTAL YR CAMP VAIL (continued) EXPENSES (continued): UDGET ACTUAL PERCENT VARIANCE BUDGET ACTUAL PERCENT VARIANCE BUDGET PERCENT POSTAGE/SHIPPING 1-550-5530 0.00 382.23 0.00% 382.23 300.00 497.79 165.93% 197.79 450.00 110.62% INTERNET CONNECT FEES 1-550-5541 100.00 0.00 0.00% (100.00) 100.00 0.00 0.00% (100.00) 300.00 0.00% CELLULAR PHONE USAGE 1-550-5542 30.00 0.00 0.00% (30.00) 30.00 0.00 0.00% (30.00) 90.00 0.00% NETWORK CONNECT 1-550-5543 250.00 0.00 0.00% (250.00) 250.00 0.00 0.00% (250.00) 250.00 0.00% WEBSITE MAINTENANCE 1-550-5545 0.00 95.00 0.00% 95.00 150.00 95.00 63.33% (55.00) 300.00 31.67% RADIO FEES I-550-5546 160.00 0.00 0.00% (160.00) 420.00 0.00 0.00% (420.00) 900.00 0.00% LICENSE/PERMIT' FEES 1-550-5554 300.00 917.00 305.67% 617.00 500.00 1,146.00 229.20% 646.00 650.00 176.31% BONUS/APPRECIATION 1-550-5560 75.00 57.03 76.04% (17.97) 150.00 57.03 38.02% (92.97) 650.00 8.77% EQUIPMENT RENTAL 1-550-5610 0.00 0.00 0.00% 0.00 0.00 0.00 0.00% 0.00 900.00 0.00% BUILDING RENT 1-550-5640 0.00 0.00 0.00% 0.00 3,500.00 3,500.00 100.00% 0.00 7,000.00 50.00% Total EXPENSES 5??? 37,758.00 38,235.99 101.27% 477 99 60 787 00 54 486 41 89 63% 6 300 5 . , . , . . ( , . 9) 157,643.00 34.56% TOTAL CAMP VAIL: (5,358.00) 5,173.11 96.55% 10,531.11 48,913.00 51,379.69 105.04% 2,466.69 6,757.00 760.39% FAMILY CARNIVAL REVENUE: ENTRY FEES 1-560-4320 0.00 0.00 0.00% 0.00 1,500.00 854.10 56.94% (645.90) 1,500.00 56.94% ADMISSION FEES 1-560-4410 0.00 0.00 0.00% 0.00 7,750.00 4,365.00 56.32% (3,385.00) 7,750.00 56.32% DONATIONS 1-560-4540 0.00 0.00 0.00% 0.00 5,500.00 2,950.00 53.64% (2,550.00) 5,500.00 53.64% CORP SPONSORSHIP REV 1-560-4550 0.00 0.00 0.00% 0.00 1,500.00 0.00 0.00% (1,500.00) 1,500.00 0.00% Total REVENUE 4??? 0.00 0.00 0.00% 0.00 16 250 00 8 169 10 50 27% 080 8 9 , . , . . ( , . 0) 16,250.00 50.27% EXPENSES: OPERATING SUPPLIES 1-560-5300 0.00 0.00 0.00% 0.00 200.00 329.23 164.62% 129.23 200.00 164.62% FOOD SUPPLIES 1-560-5302 0.00 0.00 0.00% 0.00 150.00 0.00 0.00% (150.00) 150.00 0.00% PRIZES/AWARDS 1-560-5364 0.00 0.00 0.00% 0.00 650.00 402.88 61.98% (247.12) 650.00 61.98% ADVERTISING 1-560-5430 0.00 0.00 0.00% 0.00 500.00 0.00 0.00% (500.00) 500.00 0.00% PRINTING 1-560-5432 0.00 0.00 0.00% 0.00 250.00 152.00 60.80% (98.00) 250.00 60.80% LODGING/HOUSING 1-560-5454 0.00 0.00 0.00% 0.00 300.00 0.00 0.00% (300.00) 300.00 0.00% CONTRACT LABOR 1-560-5500 0.00 0.00 0.00% 0.00 750.00 1,080.00 144.00% 330.00 750.00 144.00% CONTRACTOR FEES I-560-5502 0.00 0.00 0.00% 0.00 10,000.00 8,080.00 80.80% (1,920.00) 10,000.00 80.80% POSTAGE/SHIPPING 1-560-5530 0.00 0.00 0.00% 0.00 175.00 357.97 204.55% 182.97 175.00 204.55% Total EXPENSES 5??? 0.00 0.00 0.00% 0.00 12 975 00 10 402 08 80 17% (2 572 92 12 975 00 80 1 , . , . . , . ) , . . 7% TOTAL FAMILY CARNIVAL 0.00 ~ ~ 0.00 3~ 7~ (2232.98) 68.18% (5,507.98) 3,275.00 68.18% SUMMER PROGRAMS APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS 17 All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: Vail Valley Medical Center Volunteer Corps LUNCHEON and FASHION SHOW-March 25, 2004 2. Contact person: Sue Sweeney and Stacy Mengedoth 3. Mailing address: Sue Sweeney: PMB 320-P.O. Box 3000, Edwards, Colorado 81632 4. Telephone: (970)926-5127 5. Members and Titles of your governing board: Annual Luncheon organizing committee is comprised of Vail Valley business leaders and volunteers. The committee members vary year to year. 6. Amount of contribution requested: In-kind contribution of parking at Lionshead for the March 25, 2004 Luncheon and Fashion Show /Shaw Cancer Center attendees (500-600)-$3,000. 00 estimated amount.. 7. Organization fiscal year-end: May 31 8. Are your books audited? Yes 9. How will the contribution be used? March 25, 2004 Luncheon and Fashion Show/Shaw Cancer Center attendees and volunteers receive free parking at Lionshead on March 25, 2004. 10. How does your request support item 1C of the contribution policy? ALL PROCEEDS FROM THE MARCH 25, 2004 LUNCHEON AND FASHION SHOW WILL GO TOWARD THE ESTABLISHMENT OF A `CARE HOUSE' FOR PATIENTS AND THEIR FAMILIES AS PART OF THE SHAW CANCER CENTER. This facility, will be a part of the Shaw Cancer Center which services the Vail Valley, its surrounding 6 counties, Denver, The Front Range and visitors from across the United States, Canada, and Europe. Approximately 4,000 guests will be invited to the Luncheon and Fashion Show. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? The Spring Vail Valley Medical Center Volunteer Corps Luncheon is supported by local, state, national and individual donations as well as event fees. 12. Organization's mission statement: A BENEFIT TO SUPPORT A `CARE HOUSE' FOR PATIENTS AND THEIR FAMILIES DURING TREATMENT AT THE SHAW CANCER CENTER (If more room is needed to answer questions, please use the back of this page.) APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year Date: ) Assets: $0.00 This is not applicable due to the fact that this is a one-time event only. All net proceeds will go toward the establishment of a `Care House' for patients and their families as part of the Shaw Cancer Center. Since the Event is a benefit, there are no assets, no liabilities, and there is no net worth. Total Assets $0.00 Liabilities: $0.00 Total Liabilities $0.00 Net Worth (Total Assets Minus Total Liabilities) $0.00 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: ~ (List by funding source)' EVENT FEES: 400 @ $50 = $20,000.00 PATRON TABLES of 10 Per Person: 5 at $3,000.00 =$15,000.00 5 at $2,000.00 =$10,000.00 5 at $1,000.00 =$5,000.00 SILENT AUCTION INCOME: =$11,100.00 NOTE: ALL SILENT AUCTION ITEMS DONATED Total Revenue $61,100.00 Expenses: ~ Marriott Deposit $500.00 Marriott Meals $19,000.00 Invitations $4,000.00 Postage (Comped) $0.00 Centerpieces $2,800.00 Advertising $4,600.00 Misc + Overseas Postage $200.00 N MARCUS HAS GENEROUSLY DONATED COSTS FOR FASHION SHOW, NEIMA CERTAIN SPONSOR PACKAGE ITEMS, DENVER MEDIA. PUBLICITY S , MODEL AND GIFTS Total Expenses $31,100.00 Total Revenue Minus Expense $30,000.00 TO SHAW CANCER CENTER FOR ESTABLISHMENT OF A `CARE HOUSE' FOR CANCER PATIENTS AND THEIR FAMILIES ~~ ~ I g APPLICATION FOR TO`VN OF VAIL FUNDING GENERAL INSTP.UCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATIOi~T OR PRINT IN BLACK INK 1. Name of organization: L~C-~~ ~ ~~l ~~ °s, ~'''- 2. Contact person: L~ b~1 ~~ .• s ~~-• , ~~' ~ s' `'~.~ '=~ 3. Mailing address: t'- ~~ ~~~ ~' 3 `l ~''~~ ~~ ~~ ~ ~ ~ ~~ 4. Telephone: `f 7 ~ - ~ ~ ~ - ~ ~ S~ 5. Members and Titles of~your governing board: 1.Gc~-r ~1U~ , ~ den rc~ _ ~t.ris ~~_:,~ ~C-~. ~ c~2~r-'~- ; S Q. yti,t- cc ('7lc ^-~- ctn ~ ~ ~ ~ , ~ S i ~ ~t; ~S &J~ ~ ~ ~ C~LR._~ d. J ~ ~ ~~1 ,3 cl~ Jre".-\ ' ^ - ~ ~ " ! ~ l\~~ir~c'-1 Slc.v~ ~r.JSV-: ~ JYI~ c~.c / `f'~.CLS~ (Y\~ Sir ~n0-fi ~~ ~ h SL-: ~~.el. © 'RJ '.r ~ 6. Amount ofco~tributionre uested: `~I~-c~r~~ "~ `1~ 7~'lc'`'`~'~~ ~~`~-'-~ P~`~~~ <<~"" ,,--. `~; 7. Organization fiscal year-end: ~.~ a.~( ~ti ~~~-~-- 8. Are your books audited? ~1 U 9. How will the contribution be used? 5-~=- ~" ~' 10. How does y our request support item 1C of the contribution policy? l~-~~. ~-~~ ~~^ ~-~ •~ ~ ~ ~, ~Jc°. 5~ CL N~ C-~ f ~ c:. rn-nvT.J T-y ~ ~ V- GZ~ J ~~ c~."Cti, o`er-~-t 11. Who currently funds your organization (other goverrunents, private donations, user fees, etc.)? ~'~~ ~c~_tG ~~,.a~:,-~ ~ ~ 1. YT`s 5 )< <=r c/; ~V~«' l..~C-. ~ 7~`l U ~5; v,--. i ~ ~c ~ rcV>L~ .f_. 12. Organization s mission statement: t~-i ~ (If more room is needed to answer questions, please use the back of this page.) _ :. ~-L.G ~z~ 1~1 ~_, c ,1d ~ ~ 1 Cs-,~: w ~.~f ~ o~ i`~..~ tea. cv ti- vct.~~ 3 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present u1 as much detail as possible. Most Recent Completed Fiscal Year Date: ) ~ c~-~ ~t c'ty s~ Assets: ~ Total Assets ~ Liabilities: ~ Total Liabilities ~ Net Worth (Total Assets l~linus Total Liabilities) $ a ~>>-sncn3 Vail Symposium asr r~r Balance Sheet As of June 24, 2003 . Jun 24, 03 ~.e--- ASSETS Current Assets Checking/Sa~ings Alpine Bank ?<Ioney Market Alone~~ Market #12939 biat 6/30103 10,696.31 1•ioner~ illarket #163371tiiat 8/12/03 10,065.45 Alpine Bank bioncy Market - Othe~ _ 1?.3? Tota] Alpine Bank ivioney Market 20,779.11 Vaik Symp Business Checking 34,977.00 Total Checking/Sar-ings 55_ 76.11 Total Current Assets 55,756.11 Filed Assets Audio Visual Equipment 645.53 Office Equipment Computer 2,325.50 File Cabinets 519.43 Softti}•arc 1,641.03 Office Equipment -Other ~6? Total Office Equipment 4,803.61 Total Filed Assets 5, TOTAL ASSETS 61, LIABILITIES & EQUITY Equity Opening Bal Equity 9,480.73 Retained Earnings 29,769.11 itiet Income- 21,955.41 Total Equity 61, TOTAL LIABILITIES & EQUITY 61,20~.2~ Page ~ of 1 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: S (List by funding source) Total Revenue $ Expenses: ~ Total Expenses ~ Total Revenue Minus Expense ~ .t~.L ~~E-t ~- ~--h-~---~1 5 2:02 PM 06!19/03 Accrual Basis Vail Symposium Profit & Loss January through December 2003 Income Educational Endowment Event Sales Artist Series Ticket Sales Total Artist Series Hot Topics Literary Series Movie Series Slifer Series Git Along Little Dogie Irma Bailey Ken Jessen Total Slifer Series Special Events Gary Hart Dinner Total Special Events Total Event Sales Fund Raising 2003 General Donors Board Member Donations Grant Donations Wells Fargo Speaker Series Total Grant Donations Total Fund Raising Interest Income Professional Fees Festival of Words Total Professional Fees Sponsor Income Slifer Winter 2003 Series Total Sponsor Income Total Income Expense Administration 2003 Fund Raising Advertising and Marketing 2003 Summer Brochure Advertising and Marketing -Other Total Advertising and Marketing Bank Service Charge Contract Labor Administrative Assistant Advertising 8 Marketing Bookkeeping Computer Work Fundraising General Office N/ebsite Administrative Assistant -Other Total Administrative Assistant Executive Director General Office Administration Total Contract Labor Jan -Dec 03 2,510.02 5,565.00 5,565.00 6,710.00 540.00 795.00 1,020.00 295.00 525.00 1,840.00 1,825.00 1,825.00 17,275.00 49,150.00 8,000.00 -1,000.00 -1,000.00 56,150.00 384.69 10,000.00 10,000.00 2,500.00 2, 500.00 88, 819.71 714.01 1,450.41 1,900.04 3,350.45 64.28 540.00 490.00 900.00 100.00 475.00 1,075.00 17,375.90 11, 350.00 160.00 28,885.90 Page 1 2:02 PM Vail Symposium 06N9103 Profit & Loss Accrual Basis January through December 2003 Entertainment Fund Raising 2003 Fund Raising Printing & Reproduction Total Fund Raising Insurance Misc Postage Box Rental Postage -Other Total Postage Rent Supplies Telephone Total Administration Credit Card Discount Dues and Subscriptions Event Expense 2003 Festival of Words Artist Series Drivers Food Gifts Guest Event Dinners Printing and Reproduction Refreshments Total Artist Series Film Series Audio Visual honorarium Total Film Series Hot Topic Series Advertising 8 Mktg Audio Visual Event Food Gary Hart Event Food -Other Total Event Food Honorarium Meafs Refreshments Setup Speaker Fees Vilar Center Charges Hot Topic Series -Other Total Hot Topic Series Literary Series Event Food Honorarium Refreshments Setup Total Literary Series Jan -Dec 03 97.93 570.70 3,109.17 3,679.87 1,848.00 65.98 68.00 1,785.69 1,853.69 600.00 3,874.39 559.37 45,593.87 639.62 764.81 612.63 400.00 3,208.86 186.88 383.52 30.00 336.75 4,546.01 185.00 200.00 385.00 17.50 35.00 1,008.80 2,559.03 3, 567.83 200.00 746.48 1,108.31 486.25 200.00 600.00 8.92 6,970.29 117.39 300.00 180.57 250.00 847.96 Page 2 2:02 PM Vail Symposium os~,sio3 Profit & Loss Accrual Basis January through December 2003 Slifer Series Audio Visual Books Food Guest Dinners Mileage Mystic West Refreshments Scholarship Fund Setup Speaker Fees Total Slifer Series Special Events Festival of Words Total Special Events Total Event Expense Licenses Miscellaneous Petty Cash Web Site Development Web Site -Other Total Web Site Total Expense Net Income Jan -Dec 03 130.00 100.00 1,000.00 245.37 90.00 205.50 330.36 270.00 150.00 400.00 2,921.23 91.09 91.09 16,374.21 78.00 -52.20 100.00 500.00 100.00 600.00 64,202.71 24,617.00 Page 3 `1 ~' . _ ~ ~~~F _ - o~ >o - _ ~9 ~~~ ~uiy 31, 2003 - - Town of Vail _ . Vail Finance Department Attn: Grant Request - 75 S. Frontage Rd. Vail, C0 $1657 Dear Finance Department: . Thank you for the opportunity to submit an application for funding during the 2004 budget.. year: The Gore Range Natural Seience School, respectfully requests X2;000 iri - funding plus the use of Donovan Pavilion on four separate occasions. ~ :, 'The following documents are included in this. application packet: ' 1. Application for Town of Vail Funding 2. Application for Town of Vail Funding/Balance Sheet _ _ 3. Application-for Town of Vail Funding/Statement of Sources and Uses - 4. Form 990 from FY Ending May 31, 2002 . 5. Verification of 501(c) (3) status . I€ you have any questions, please feel free to call me at 970-827-9725 x. 13, or email . carolb@gorerange.org. I would be happy-to talk with you further about our programs. Since ly, - - - • Carol Busch ~ _ Development Associate ~. ~ • . , • P.O. BOX 250 400 PINE STREET ~ RED CLIFF, CO 81649 TEL: 970-827-9725 FAX: 970-827-9730 www.gorerange.org a-mail: scienceC~gorerange.org . 2004 APPLICATION FOR TOWN OF VAIL FUNDING ORGANIZATION Gore Range Natural Science School P.O. Box 25 Tet. 970.827.9725 • Red Cliff, CO 81649 Fax 970.827.9730. ' ~ - CONTACT Kim .Langmaid, Executive Director Carol Busch Develo mPnt AccnciatP p GF ~O O h ORGANIZATIOIN MISSION STATEMENT ' The GoreRange. Natural Science School raises environmental awareness and inspires stewardship of the Rocky "Mountain ecosystem by providing natural science learning adventures for youth and adults. We believe in the power of education to inspire and empower individuals to create pos-hive change in their communities wind surrounding landscapes. BOARD OF DIRECTORS Dan Carroll, Chairman; Alan Danson, Vice Chairiman; Susan Pollack, Treasurer; Sherwood Stockwell, Secretary; Jeanne Bailey; Kathy Borgen; Henry Bornstein; Buck & Holly Elliott; Rand Garbacz& Alexandria Woolcott; Don & Sharon Greene; Montine Hansl; Bill Jensen; Kim Langmaid; Steve Pope; Rich Rogel; Ric Souto; Larry Speh; Martha Ketelle - Ex-Officio Member - AMOUNT REQUESTED: $2,000, plus In-Kind contribution for the use of Donovan Paviilion one weeknight a month between January and April 2004 (4 nights total) FISCAL YEAR END: June 30 ' FINANCIAL STATEMENT ATTACHED: We were audited for FY O1-02."Form 990 from FY Ot is attached. HOW CONTRIBUTION WILL BE USED. ~ - In addition to summer and school programs for youth, the Gore Range Natural Science School is committed to providing a,range of adult programming opportunities throughout the year. Central to this goal is our adult speaker series. For 2004, GRNSS would like to host four speakers between January and April (one speaker per month) at the new Donovan Pavilion, the use of which we respectfully request as an in-kind contribution. The objective for hosting an adult speaker series into provide the community with accessible, high-qua}ity, thought-provoking, educational and entertaining adult programming that represents a variety of today's most talked about natural science and environmental issues. GRNSS requests a $2,000 cash contribution that will be divided equitably between, fouradult speaker programs. The requested $500 per program will help defray 20%' of that program's total cost of $2,500. Program expenses include: o $1,000 honorarium o $1,000 speaker travel & lodging o $500 marketing, supplyes, .and overhead • HOW PROGRAM SUPPORTS AN ENVIRONMENTALLY SENSITIVE, HIGH QUALTY OF LIFE: AS WELL AS A POSITIVE, SUSTAINED ECONOMIC CLIMATE . The residents and guests of Vaii share a special. bond with the area's. immediate natural surroundings. Our programs nourish this connection to the wonders around us through 'education. Because today's youth are tomorrow's stewards, there is a need for education, which enables our future leaders to make informed decisions about this special place. The Gore Range Natural Science School is anon-advocacy organization that believes hands on scientific exploration of our own "backyard".contributes to a stKOnger community and a keener awareness of our connection to the natural world. ~ ~ -. -over- - P.O. BOX 250 400 PINE STREET RED CLIFF, CO 81649 TEL: 970-82Z-9725 , FAX: 970-827-9730 wwar.8arerange.org a-mail: science~sorerange.org The Gore Range Natural Science School adult speaker series supports an environmentally sensitive,. high quality of life by engaging the community in learning opportunities`that promote the reflection and consideration of a variety of - environmental issues that shape our every day experiences.-From food production to sustainable architectural design, and ' adventure-based story telling - we will explore our relationship to the natural world. - ` Ptomotion of Vail as a vacation destination for lifelong learning about the environment is accomplished through. _ "your support of the Gore Range Natural. Science School. We actively promote our programs nationally as year round, high quality adventure education for youtli and adults. As our programs grow, they contribute~to a greater awareness of Vail's . environmentally responsible reputation throughout the country. Additionally, our presence atop Vail Mountain and at the.. Vail Nature Center provides incentive for residents:-and guests to take advantage of Vail Resorts' and the Vail Recreation - District's many services: - . ~ , _ ~ __ - ~ w .. .2004 APPLICATION FOR TOWN OF VAIL FUNDING - -Balance Sheet - _ Most Recent Completed Fiscal Year Ending: May 31;-2002 As reported on IRS Form 990 Assets:- . - - Cash (non-interest bearing) ~ $28,1$1 ` Savings and temporary investments $30,000 ` Accounts receivable ~ ~ $15,478 - - Land, buildings, and equiprrient ~ ~ $25,911 ' Other _ - $10,000 . Total $109,570 Liabilities: Accounts payable $39,138 Mortgages and other notes payable $9,264 Total $48,402 Net Wgrth: Total Assets minus Total Liabilities $61,168 _ , 2004 APPIIICATIONFOR TOWAI OF VAIL FUNDING Statement of Sources and Uses Current FY 03-04 Budget Revenues: _ .Individual contributions $190,450 - . Interest/Dividend ~ ~ $240 , -Other income $2,124 - Public Support ~ $154,425 " ~ .Special Events $500 _ Tuition $91,979 _ r Total Revenues $439,718 Expenses Accounting & legal $3,500 Advertising & Marketing _ $3,000 _ ' Bank. Charges $1,500 Board & Committee Ops $SOQ Computer Support $3,000 Conferences & Sernnar-s ~ ~ $3,960 Contract Services $4,000 Dues & Subscriptions _ $825 Employees $332,924 .Equipment $2,520 Fees & Permits $2;980' Food' - $2,496 _ ~ Insurance $15,840 _ Internet Expense $1,920 -Media & Entertainment $408 . • Merchandise ~ $504 ' Postage $2,004. Printing & Copying $6,000 " , Program Supplies $3,000 Recognition & Awards ~ - $250 Rent & Utilities - ~ ~ • $8,004 Repairs & Maintenance $204 Special Events $504 ` Supplies ~ ~ $3,000 Telephone ~ $8,004- Travel & Lodging $504 } Vehicle $3,I88 . Vehicle -Leases $1,500 ' Total Expense, $416,439 _ Increase in unrestricted Net Assets. _ $23,279 .~ f { ` 9 9 0 Return `Organization Exempt Frc Income Tax OMB No. 1545-0o4 Form ~~}} Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung LSOQ benefit trust or private foundation) Department of the Treasury • • - Internat Revenue service - The organization may have to use a copy of this return to satisfy state reporting requirements. • . - .. A For the 20i B Check if appicable: aadre.s change Name change Initial return Final return Amended velum Application pending G Web site: - calendar ear or tax ear be )nnin 06 01 2001 and endin 05 31 2002 Please C Name of organization D Employer identification number usellts GORE RANGE NATURAL SCIENCE SCHOOL 84-1436731 label or print or Number and street (or P.O. box if mail is not delivered to street address) .Room/suite E Telephone number type. , see 400 PINE STREET speomc ~ 970 827-9725 ~rac- City or town, state or country, and ZIP + 4 ~~in a°~s cash X Accrual tIORS. -~- __ ___ - _ _ _ _ - _ r-~ ~ Section 501(c)(3) organizations and 4947(a}(1) nonexempt charitable trusts must attach a completed Schedule A (Form 990 or 990-EZ). J Organization type (check only one) - ~[ 501(c) (3 ) ~ (insert no.) 4947(a}(1) or 527 K Check here - if the organization's gross receipts are normalcy not more than $25,000. The organization need not file a return with the IRS; but if the organization received a Form 990 Package in the mail, it should file a return without financial data. Some states require a complete return, L Gross receipts: Add lines 6b, 8b, 9b, and 10b to line 12 - 1 I (Other(specity) H and 1 are not applicable to section 527 organizafiorts. H(a) Is this a group return for affiliates? ~ Yes D No H(b) If "Yes," enter number of affiliates - H(c) Are all affiliates included? Yes ~ No (lf "No," attach a list. See instructlons. H(dj Is this a separate return filed by an ~ organizatbn covered by a group ruling? ~ Yes I X I NO 1 Enter 4-digit GEN - M Check - if the organization is not required to attach Sch, B (Form 990, 990-EZ, or 990•PF). tzevenue, Ex enses, and Chan es in Net Assets or Fund Balances See S ecific Instructions on 1 Contributions, gifts, grants, and similar amounts received: STMT 1 a Direct public support . 1 a 379 028 . b Indirect public support , 1 b c Government contributions (grants) , 1 c d Total (add lines to through tc) (cash 5 340 , 537. noncash S 38 , 491. ) 2 Program service revenue including government fees and contracts (from Part VII, Tine 93) , , 3 Membership dues and assessments , 4 Interest on savings and temporary cash investments - _ , 5 Dividends and interest from securities .......... ..... .................. 6 a Gross rents _ 6 a b Less: rental expenses 6 b c Net rental income or (foss) (subtract line 6b from line 6a) 7 Other investment income (describe - , v 8 a Gross amount from sales of assets other (A) securities (e) Other ~ than inventory , - ga b Less: cost or other basis and sales expenses 8 b c Gain or (loss) (attach schedule) , S c 1dl 379.0 2. 9 568. 3,780. c d Net gain or (loss) (combtne Ilne 8c, columns (A) and (B)} , g d 9 Special events and activities (attach schedule) a Gross revenue (not including $ of contributions reported. on line ta) , _ 9a 15 715 . b Less: direct expenses other than fundraising expenses - 9 b 6 147 . c Net income or (loss} from special events (subtract line 9b from line 9aj 9 C 10a Gross sales of inventory, less returns and allowances - Oa b Less: cost of goods sold • • - ob c Gross profit or (loss) from sales of inventory (attach schedule) (subtract line 10b from line 10a) 1oc 11 Other revenue (from Part VIi, tine 103) 11 12 Total revenue add lines 1d 2, 3, 4, 5 6c 7 Sd 9c 10e and 11 12' 13 Program services. (from line 44, column (B)) , 13 H 14 Management and genera{ (from line 44, column (C)} • 14 a 15 Fundraising (from line 44, column (D}) - 15 w 16 Payments to affiliates (attach schedule) , - 1 B 17 Total ex enses add tines 16 and 44, column A - ........................ 17 w 18 Excess ar (deficit) for the year (subtract tine 17 from line 12) , 18 Q 19 Net assets or fund balances at beginning of year (from tine 73, column (A)) , 19 ~ 20 Other changes in net assets or fund balances (attach expfanatian) S~'~ir~ ,4, $~T, ~ , 20 Z 21 Net assets or fund balances at end of ear .combine tines 18, 19, and 20) 21 For Paperwork Reduction Act Notice, see the separate instructions J3A tE1070 2.000 366,288. 52,495. 43,896. 462,679. 5,731. 63,.439. -8,002. 61,168. Form 990 (2001 } D IIT 7f'7 LT'7 r.7 nt A w-nn ^+ s Form 990 (2001} B/' 436731 Page 2 Statement of ,rganizations must complete column (A). Columns (B), (C), a, iD} are required for section 501(c)(3) and (4) organizations Functional Expenses and section 4947(x)(1) nonexempt charitable trusts trut optional for others. (See Specific Instructions on page 21.) Do not include amounts reported on line 66, 86, 9b, 10b, or 16 of Part 1. (A) Total (B) Program sernces (C) Management and general (D) Fundraising 22 Grants and allocations (attach schedule) (cash $ noncash $ ) 22 ;>>::>:::;:;:>:::;::;::;.>.;: 23 Specific assistance to individuals (attach schedule) 23 24 Benefits paid to or for members (attach schedule) 24 25 Compensation of officers, directors, etc. 25 105 476. 86 215. 10 460. 8 801. 26 Other salaries and wages 26 178 713. 146 078. 17 723. 14 912 . 27 , Pension plan contributions 27 28 Other employee benefits 28 17 952. 15 233. 1 723. 996. 29 Payroll taxes 29 30 , Professional fundraising fees 30 31 Accounting fees 31 4 313. 445. 3 868 . 32 , Legal fees 32 33 Supplies 33 7 609. 6 652. 413. 744. 34 _ Telephone 34 6 086. 4 905. 295. 886. 35 ,,,,,,,,,,,,,,, Postage and shipping 35 3 855. 2 252. 164.. 1 439 . 36 Occupancy 36 44 428. . 35 541. 2 222. 6 665. 37 , Equipment rental and maintenance 37 8 343. 6 548. 517. 1 278 . 38 , Printing and publications 38 16 409. 13 698. 130. 2 581. 3 9 Travel 3 9 1 2 21 . 1 16 5. 5 6. 40 , and meetings Conferences conventions 40 2 759. 2 197. 171. 391 . 41 , , Interest 41 1 356. 1 358. 42 ,,,,,,,,,,,,,,,,, (attach schedule) Depreciation depletion etc 42 8 313. 6 650. 416. ' 1 247 . 43 , . , , Otherexpensesnotcoveredabove(itemize):3TMT 6 43a 55 644. 37 351. 14' 393. 3 900. b 3 b' c 3c d 3d e 3e 44 Total funcrional expenses (ado Ymes 22 mrough aa}. Organizations completing columns (B){D), carry these totals. tohnesl3-15. . . 44 462 679. 366 288. 52 495. 43 896. Joint Costs. Check - U if you are following STOP 98-2. Are any joint costs from a combined educational campaign and fundraising solicitation reported in (B) Program services? , - ^ Yes ~ No If "Yes," enter (i) the aggregate amount of these joint costs $ ; (ii) the amount allocated to Program services $ iii the amount allocated to Mana ement and eneral $ ~ and iv the amount allocated to Fundraisin Statement of Pro ram Service Accom fishments See S ecific instructions on a e 24. What is the organization's primary exempt purpose? - STMT 7 Program service Expenses All or anizations must describe their exem t ur ose achievements in a clear and concise manner. State the number g P P P (Required for 501(cj(3) and (4) orgs., and 4947(x)(1) of clients served, publications issued, etc. l3iscuss achievements that are not measurable. (Section 501(c)(3) and (4) trusts; but optional for organizations and 4947(x)(1) nonexempt charitable trusts must also enter the amount of grants and allocations to others.) others.} a SCHOOL_GROUP_STUDIE3 TO_EDUCATE_ABOUT THE MOUNTAII3_REGION'S ______________ I3AT`JRAI~ _HI SfiORY _AND _ECOLOGY_ANFS_ PROVIDE STUDENTS _WITH_ THE _ _ _ _ _ _ SKILLS_FOR_RESPONSIHLE_ENVIRONMEIJTAF, DECISION _MAKING______________________ Grants and allocations $ 366 288 . b --------------------------------------------------------------------------- ----------------------------------------------------------------------- ------------------------------------------------------------------------- (Geants and allocations $ ) c ------------------------------ -------------------------------------------- --------------------------------------------------------------------------- ------------------------------------------------------------------------ (Grants and allocations $ ) d ------------------------- ------------------------------------------------- --------------------------------------------------------------------------- Grants and allocations $ e Other rogram services (attach schedule Grants and allocations $ f Total of Program Service Expenses (should equal fine 44 column (B) Program services). - 366 ~ 288 . ~sA Form 990 (2001) 4E1020 2.000 - ' i! Form 990 (2001 j ~,~ Balance Sheets (See Specific Instructions on page 24.) 84 436731 Page 3 Note: Where required, attached schedules and amounts within the description (A) (B) column should be for end-of- ear amounts onl . Beginning of year End of year 45 Cash -non-interest-bearing . .. . . .. . . . ... . . ... . . . .. .. . 11 337. 45 28 181. 46 Savings and temporary cash investments , 38 483. 46 30 000 . 47a Accounts receivable 47a 15 , 47 b Less: allowance for doubtful accounts 47b 47c 48a Pledges receivable _ _ _ 48a b Less: allowance for doubtful accounts _ , 48b 48a 49 Gcantsreceivable , 4g 50 Receivables from officers, directors, trustees, and key employees (attach schedule) ................................. 50 51 a Other notes and loans receivable (attach schedule) 51 a ~ . . . .. . H b Less: allowance far doubtful accounts _ 51 b 51 c ~ 52 Inventories for sale or use Q 52 53 Prepaid expenses and deferred charges ..... .. .. .. 53 54 Investments -securities (attach schedule} , - ~ Cost ~ FMV 54 55a Investments - land, buildings, .and equipment: basis , . . 55a b Less: accumulated depreciation (attach schedule),,,,,,,,,,,,, 55b 55c 56 Investments -other (attach schedule} _ gg 57a Land, buildings, and equipment: basis , ,S~ , 57a 44 299 b Less: accumulated depreciation (attach schedule) _ ... .. 57b 18 388 27 657. 57c 25 9I1. 58 Other assets (describe - STMT 9 ) 10 000. 58 IO 000 . 59 Total assets add lines 45 throe h 58 must a uaf line 74 87 481. 59 109 570 . 60 Accounts payable and accrued expenses , _ _ _ 7 T87 , 60 39 138 . 61 Grants payable .. .. ....... .. ... ...... .. ... .. 61 62 Deferred revenue . . .. . . _ 62 63 Laans from officers, directors, trustees, and key employees (attach ... schedule) . . ... . . .. . . .. . ...... . . 6.3.. _~ 64a Tax-exempt bond liabilities (attach schedule) . . J 64a b Mort a es and other notes a able attach schedule 99 PY ( ) 16 255. 64b 9 264. 65 Other liabilities (describe - ) 65 66 "Total liabilities add lines 60 throe h 65} ... .. .. .. .... .. .. 24 042. 66 48 402 . Organizations that follow SFAS 117, check here - X and complete lines 67 through 69 and lines 73 and 74. a 67 Unrestricted _ .. _ 57 589. 67 31 168. ~ 68 Temporarily restricted ~ ... 88 30 000. R 69 Permanently restricted .. .. ....... ... ... .. 5 850. 69 ~ Organizations that do not follow SFAS 117 check here - ^ and , complete lines 70 through 74. `0 70 Capital stock, trust principal, ar current funds . . _ _ 70 ~ 71 Paid-in or capital surplus or land building and equi ment fund 71 . , , , p _ . ,° ,~ 'n 72 Retained earnings, endowment, accumulated income, or other funds .... 72 Q 73 Total net assets or fund balances (add fines 67 thraugh 69 OR lines v 70 through 72; z _ column (A) must equal line 19; and column (B) must equal line 21), 63 439. 73 61 I68 . 74 TotaF 1tabilities and net assets !fund balances add lines 66 and 73} ._ B7 , 482. 74 109 , 570 . Form 990 is available for public inspection and, for some people, serves as the primary or sole source of information about a particular organization. How the public perceives an organization in such cases may be determined by the information presented on its return. Therefore, please make sure the return is complete and accurate and fully describes, in Part III, the organization's programs and accomplishments. JSA 1 E 1030 2 000 AfrT~r~ T1757 77 dd_flll ~ Form 990 (2001) ' ~ Reconciliation of Rr: ,1ue per Audited Financial Statements with Revenue per Return (See Specific Instructions, page 26.) a Total revenue, gains, and other support per audited financial statements - a 468 410 . b Amounts included. online abut not on line 12, Form 990: (1) Net unreal'~zed gains on investments i (2) Donated services and use of facilities Z (3) Recoveries of prior year grants S (4) Other (specify): B~' 436731 Page 4 • Reco,... ,liation of Expenses per Audited Financial Statements with Expenses per Return a Total expenses and losses per audited financial statements , - a 462 679 . b Amounts included on line a but not on line 17, Form 990: (1) Donated services and use of facilities S (2j Prior year adjustments reported on line 20, Form 990. , S (3) Losses reported on line 20, Form 990 S (4) Other (specify): Add amounts on lines (1) through (4) - b $ Add amounts on lines (1} through (4) , , - b c Line a minus line b - c 468 410. c Line a minus line b , - c 462 679. d Amounts included on line 12, d Amounts included on line 17, Form 990 but not on line a: Form 990 but not on line a: (1) Investment expenses (1} Investment expenses not included on line not included on line 6b, Form 990 S 6b, Form 990 ,S (2) Other (specify): (2) Other (specify): $ S Add amounts on lines (1) and (2) - d Add amounts on lines (1) and (2) . , - d e Total revenue per line 12, Form 990 a Total expenses per line 17, Farm 990 line c lus lined - e 468 410. line c lus tine d - • - e 462 679. ' .List of Officers, Directors, Trustees, and Key Employees (List each one even if not compensated; see Specific . (A) Name and address. (B) Title and average hours per week devoted to sition (C} Compensation (If not paid, enter -0-. (D} Contributions to employee benerR plans a deferred compensation (~ F~tense account and other allowances SEE STATEMENT 11 105 476. 5 182. -0- 7 S Did any officer, director, trustee, or key employee receive aggregate compensation of more than $100,000 from your organization and all related organizations, of which more than $10,000 was provided by the related organizations? - ~ Yes ~ No If "Yes," attach schedule -see Specific knstructions on page 27. ruun .~sv tcw i7 JSA t E 7040 2.000 Form 990 2001 84 436731 Pa e 5 Other Information See S ec.. :Instructions on a e 27. Yes No 76 Did the organization engage in any activity not previously reported to the IRS? If "Yes," attach a detailed description of each activity , , T6 X 77 Were any changes made in the organizing or governing documents but not reported to the IRS? 77 X If "Yes," attach a conformed copy of the changes. 78 a Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return? , T8a X b If "Yes," has it filed a tax return on Form 990-T for this year? _ 78b X 7 9 Was there a {iquidation, dissolution, termination, or substantial contraction during the year? If "Yes," attach a statement , 79 X 80 a Is the organization related (other than by association with a statewide or nationwide organization} through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization? 80a X b ff Yes, enter the name of the organization - and check whether it is exempt OR nonexempt. 81 a Enter direct or indirect political expenditure. See tine 81 instructions , 81 a b Did the organization file Form 1120-POL for this year? 81 b N 82 a Did the organization receive donated services or the use of materials, equipment, or facilities at no charge or at substantially less than fair rental value? - _ _ 82a X b if "Yes," you may indicate the value of these items here. Do not include this amount as revenue in Part I or as an expense in Part II. (See instructions in Part 111.) 82b B 3 a Did the organization comply with the public inspection requirements for returns and exemption applications? , 83a X b Did the organization comply with the disclosure requirements relating to quid pro quo contributions? , - 83b X 84 a Did the organization solicit any contributions or gifts that were not tax deductible? , Boa X b If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? , _ gob N 85 501(c)(4), (5), or (6) organizations. a Were substantially all dues nondeductible by members? BSa N b Did the organization make only in-house lobbying expenditures of $2,000 or less? , 65b )[ If "Yes" was answered to either 85a or 85b, do not complete 85c through 85h below unless the organization received a waiver for proxy tax owed for the prior year. c Dues, assessments, and similar amounts from members 85c N A d Section 162(e) lobbying and political expenditures , - 85d N A e Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices , 85e N A f Taxable amount of lobbying and political expenditures (line 85d less 85e) , B5f N A g Does the organization elect to pay the section 6033(e) tax on the amount in 85f? 85 N h If section 6033(e)(1)(A} dues notices were sent,, does the organization agree to add the amount in 85f to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year? 85h N 86 501(cJ(7) orgs. Enter: a Initiation fees. and capital contributions included on line 12 86a N A b Gross receipts, included on line 12, for public use of dub facilities 86b N A 87 501(c}(12} orgs. Enter: a Gross income from members or shareholders , , 67a N A b Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) , , _ _ _ _ 87b N A 88 At any time during the year, did the organization own a 50°~ or greater interest in a taxable corporation or partnership, or an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Part IX _ 88 7{ 89 a 501(c)(3) organizations. Enter: Amount of tax imposed en the organization during the year under: section 4911 - NONE ;section 4912 - NONE ;section 4955 - Np b 501(c)(3) and 501(c)(4) orgs. Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year? If "Yes;' attach a statement explaining each transaction 89b X c Enter: Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958 _ __ _ __.- N ONE d Enter: Amount of tax on line 89c, above, reimbursed by the organization . - N/A 90 a List the states with which a copy of this return is filed ~. NONE b Number of employees employed in the pay period that includes March 12, 2001 (See instructions) , ~ 9ob f 5 91 The books are in care of - THE ORGANIZATION Telephone no. - 970-827 -9725 Located at - 400 PINE STREET, RED CLIFF, CO ZIP+4 - 81649 92 Section 4947(a)(1) nonexempt charitable trusts filing Form 990 in lieu of Form 1041-.Check here ~ and enter the amount of tax-exempt interest received or accrued during the tax year. _ - ~ g2 ~ NO NE Forrn990 (2aQ1) JSA 1 E 1041 2 000 sso 2001 $d Anafvsis of Income-Pr0~ _.:ina Activities (See Specific Instructions o~ 436731 Page 6 `` a e 32. (E) Note: Enter gross amounts unless otherwise Unre lated business income txcluoeo o section 512 513 or 514 indicated. 93 Program service revenue: (A) Business code (8) Amount (C} Excllusion code (p) Amount Related or exempt function income a EDUCATIONAL SERVIC 76 032. b c d e f Medicare/Medicaid payments , g Fees and contracts from government agencies 94 Membership dues and assessments , 95 interest on savings and temporary cash investments 96 Dividends and interest from securities 14 2 . 97 Net rental income or (loss) from real estate a debt-financed property b not debt-financed property 98 Net rental income or (loss) from personal property 99 Other investment income . 1 00 Gain or (loss) from sales of assets other than inventory 101 Net income or (loss) from special events 02 9 568 . 102 Gross profit or (loss) from sales of inventory , 103 Other revenue: a b OTHER 3 780. e d e 104 Subtotal (add columns (B), (D), and (E)). 9 570. 79 812 . 105 Total (add line 104 columns (B), (D), and (E )) - 89 , 382. . , Note: Line 105 plus line 1 d. Part 1, should equal th e amount on line 12, Part 1. Relationshi of Activities to the Accom lishmetrt of Exem t Pur oses See S ecific Instructions on . a e 32. Line No. Explain how each activity for which income is reported in column (E) of Part Vtt contributed importantly to the accomplishment of the or anization's exem t ur oses other than b rovidin funds for such ur oses . 93A INCOME TO COVER TEACHING EXPENSES TO FURTHER EDUCATION 103B VARIOUS EXEMPT PURPOSE INCOME Information Re ardin Taxable Subsidiaries and D isr arded Entities See 5 ecific Instruc tions on a e 33. (A) Name, address, and EIN of corporation, artnershi , or disre arded enti (B) Percentage of ownersni interest (C) Nature of activities (~) Total Income (Ef} End-o rear rise s o~ a~ n~ Information Re ardin Transfers Associated with Personal Benefit Contracts See S ecific Instructions on a e 33. during the year, receive any funds, directly or indirectty, to pay premiums on a personal benefit contract? (a} Did the organization Yes g No , (b} Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? Yes X No Note: If "Yes" to (b). file Form 8870 and Form 4720 r'see instructions Under penalties of perjury, I declare that I have examined this return, including accom n Ing schedules and statements, and to the best of my knowledge and belief, k is true, correct, and co a Declaration of preparer (oFher than officers based on all information: of which preparer has any knowledge. Please ~ Ib ~ DL $lgtl ' Signature of officer Date Here ~ V~fM~.~l, t 91M~~ S~e~l~i-Ce~krr' Type or pant na a and title. Preparers Date Check if Preparefs SSN or P'RN (See Gen. inst. W) seK- Paid signature em to ed - 555-98-4287 Preparers Firm's name (or yours EHRHARDT KEEFE STEINER 6 HOTTMAN PC EIN - 84-0869722 Ilse Only it se{f-empVoyed), ~ 7g7g E. TUFTS AVENUE SUITE 400 Phone address, and ZIP+4 DENVER. CO 80237-2843 nO' - 303-740-9400 Form 990 (2001) JSA 1 E 1050 2 c00 i INTERNAL REVENUE SERVICE P. O. BOX 2508 CINCINNATI, OH 45201 n h Date : O V~ ~ ~ ~~+~` GORE RANGE NATURAL SCIENCE SCHOOL NON-PROFIT CORPORATION PO BOX 250 400 PINE ST RED CLIFF, CO 81649-0000 Dear Applicant: DEPARTMENT OF THE TREASURY Employer Identification Number: 84-1436731 DLN: 17053250703022 Contact Person: GARY L BOTKINS ID# 31463 Contact Telephone Number: (877) 829-5500 Our Letter Dated: April 1998 Addendum Applies: no This modifies our letter of the above date. in which we stated that you would be treated as an arganizatian that is not a private foundation until the expiration of your advance ruling period. Your exempt status under section 501 (a) of the Internal Revenue Code as an organization described in section 501(c}(3) is still in effect. Based on the information you .submitted, we have determined that you are not a private foundation within the meaning of section 509(a} of the Code because you are an organization of the type described in section 509(a)(1) and 170(b)(1)(A}(vi). Grantors and contributors may rely on this determination unless the Internal Revenue Service publishes notice to the contrary. However, if you lose your section 509(a)(1) status, a grantor or contributor may not rely on this determination if he or she was in part responsible far, or was aware of, the act or failure to act, or the substantial or material change on the. part of the organization that resulted in your loss of such status, or if he or she acquired knowledge that the Internal Revenue Service had given notice that you would no longer be classified as a section 509(a)(1) organization. You are required to make your annual information return, Form 990 or Form 990-EZ, available for public inspection for three years after the later of the due date of the return or the date the return is filed. You are also required to make available for public inspection your exemption application, any supporting documents, and your exemption letter. Copies of these documents are also required to be provided to any individual upon written or in person request without charge other than reasonable fees for copying and postage. You may fulfill this requirement by placing these documents on the. Internet. Penalties may be imposed for failure to comply with these requirements. Additional information is available in Publication 557, Tax-Exempt Status for Your Organization, or you may call our toll free number shown above. If we have indicated in the heading of this letter that an addendum applies, the addendum enclosed is an integral part of this letter. Letter 1050 (DO/CG) -2- GORE RANGE NATURAL SCIENCE SCHOOL Because this letter could help resolve any questions about your private foundation status, please keep it in your permanent records. If you have any questions, please contact the person whose name and telephone number are shown above. Sincerely yours, Lois G. Lerner Director, Exempt organizations Letter 1050 (DO/CG) APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS ao All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: C~ C' l c r~a c~ a ~D ~' ~ti~Z~C1 l ~ ~d //~ J e 2. Contact person: ~~ ~ c~~1 ~'1 t-~ ~ ~ ~ 3. 4. 5. 6. 7. 8. 9. 10. 11. Mailing address: 13C~' WPS~'GtQV~ ~~• ('~~"~ ~r ~C ~'~'S 7 Telephone: C~ ~ ~/ ~7~ - ~ ~ ~ ~1 E'K~ • ~$ Q ~' Members and Titles of your governing board: ~~cu-d ~~~ 7"rusfr~s Amount of contribution req}} ested: Ong ev'c°~c{v!5 ~f~-f~ uSa~.e Organization fiscal year-end: -~ ~,, ~~-C ~.. ~~ ~,-e ..~~ a vim- Pa v~~ lion. Are your books audited? y~'S How will the contribution be used? ~ft,~t,~~'111~ , ~~~- ~l'l.e L v~i4.i ~S ~~ vser~.e ~'~.- `~~ ~e~r~ vex- ~ How does your request support item 1C of the contribution policy? ~~~~ Who currently funds yo1'ur organization (other governments, private donations, user fees, etc.)? ~cd ~u~ -I' ~~5, ~BCEt~' P~'G~~(/~'L~ '~Zt,~'~ 5 , 5~Z(,i~ '~Zt Xf S 12. Organization's mission statement: ~ ~C? ~ a~ud ~~~~ (If more room is needed to answer questions, please use the back of this page.) 3 ~~ „~"`~ ,~ 3 ~ ~ ~~~~~ Hcvw~cu ~, Cp ll~~C,e 13acc~( ~~` Truafeel ~~ ~,~~~~ l~Cf~~ ~~~; s ,~~w~`- ~~. J~ ~ ~ C - ~~'c~~'~`~-a <J~a~~~e 5~,~~~~'~' ,~aC v ~' ~til~ ~ ~~~~~t- ~.~~~• ~~~~~~ ~f~u~vfuc~, Ccljer a~-~1 ~cU I ~yo~iv°~. cum ~ 5 ~~~ /'x ~ ~r fed ~~-~'~'S obi ~~~~ i, ~ ~Z~e ~o~ i L ~~ ~ ~'~ ed c~ rc~ca~ra~a / ~° ~' c y '°-~ _ ~~ ~ ~/ e `fie cep r ~~v~~ ~ ~~ ~ ~ ~e~ ~ ~ ~~ ~ ~e 1~ ~-v~~1 i v'~,~ d aC~~~ rir~S a~ ~~'~ ~ ai~ ~2 a~ ~~-~ ~S ~~ ~ ~ I ~ ~'~ v'~ d~tit- D Uj' GLY-~Cc. `~~~G(~" YD v~~fe ~~ fo ~`~~P o~c~-~~ z~ ev-e.~ p~~ ,~r~ledc~ Organization Mission of Colorado Mountain College Colorado Mountain College's mission is leading through learning. Embodying the soaring spirit of the diverse and rugged geography surrounding it, Colorado Mountain Colleges' twelve campuses and centers provide liberal arts and science certificate and degree programs, basic and lifelong learning and workforce training across 12,000 square miles of central Colorado. CMC prepares Colorado's workforce through apprenticeships, internships and experiential learning in beautiful mountain settings. CMC's college-wide vision is to promote access to success for individuals and their communities. At the Vail campus, this has been further developed. The CMC Vail Campus will (1) cooperate and collaborate with other stakeholders to preserve and protect our mountain community; (2) support economic diversification by adding appropriate degree and certificate programs; (3) offer local access to 4 year degree programs; (4) be the first choice of people seeking continuing education; (5) broker the best possible workforce training for employer customers; (6) partner with learners in achieving their learning goals; (7) satisfy customer and stakeholder expectations for excellence in achieving the goals necessary to fulfill our mission and vision. This vision is supported by our (1) Customer First Philosophy; (2) Commitment to our purpose Mission and Vision, specifically, resources and resource allocation are prioritized according to relationship to purpose; (3) trust, honesty, respect and integrity will be practiced to ensure a safe workplace; (4) freedom to take risks to achieve excellence in performing oux Mission; (5) good faith effort in fulfillment of the contract for employment on the part of employee and employer; (6) good effort is positively reinforced with recognition and appreciation. APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures t/o the ne/a~rest dollar. Please present in as much detail as possible. `~~ s 5 ~ ~ ~'Vt't ~' ~- ~ ~ ~v r ~ ~r ~ t Most Recent Completed ~olc«cdo ~-!®vt~fCU~ Calle~ Fiscal Year (Date: ~~`~' ~ ) ~;af ~ 1 y i'GtP Ua,~ I f'~Pwu~-~', Assets: $ ~ G ~ ~ ~ ~ ~ ~~a~ Total Assets $ ~ S , 2S 3; 12~i Liabilities: $ ~ Z ~ 5 0 ~ , ~ f~ C~ Total Liabilities $ P~~ [j Q 5 j ~ ~ Net Worth (Total Assets Minus Total Liabilities) $ ~ ~ ~~ y ~ ~ ~ Z~ 4 ' APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: (List by funding source) Total Revenue Expenses: Total Expenses $ G''r (~ d~, (~ r ~5 3 $ 5 ~, ~ a 6, ~5 3 ~a, ~5~,~ Total Revenue Minus Expense $ 5 ~, PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 2~ 1. Name of arganization: Vail Valley Exchange 2. Contact person: Lisa Cotter 3. Mailing address: 2099 Chamonix Lane #2A Vail, CO 81657 4. Telephone: 476-4380/390-0015 5. Members and Titles of your governing board: Sybill Navas, President; Merv Lapin Treasurer; Rick Sackbauer, Secretary 6. Amount of contribution requested: Fee for Using the Pavilion 7. Organization fiscal year-end: December 31 8. Are your books audited? No 9. How will the contribution be used? The use of the pavilion is for an informational meeting for the sister city exchange students. 10. How does your request support item IC of the contribution policy? The sister city exchange is an awazd given by the Town of Vail. The informational meeting will provide the town with quality applicants for the award through a community type meeting. The meeting will be advertised through the schools and. through media outlets. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? The Town of Vail, Vail Resorts, Beaver Creek Resort 12. Organization's mission statement: To create international friendships and alliances, foster economic vitality and enhance global awazeness in our community through cultural exchange. (lf more room is needed to answer questions, please use the back of this page.) 4 J~JL-~B-~~t33 i°: ~, ~~~®~ ~~~~a~~~ 1~aa~ ~ y1 725 Pi11 ~t'~ii~~d$i'~ S~ee~ o7iz®~o3 As of Jtaiy 23, 2'~a3 Cash $asis dui 28, 03 ASSETS Current Assets Checicing/Savirr~ ~ 7009 1000 - EirstHank 228511 1,615.84 100'1 • Firstt3ank Money Market 42,185.93 _ _ Total Checking/$avings 43,781.77 Other CuRent Assets 00 0 1300 -Accounts Receivable . _ Total Other Current Assets 0,00 _ -- 43.7$1.77 Total Current Assets - TOTAL ASSETS 43,781.77 LIABII_ITiES & EDUITY Equity 1110 • Retained Earnings 47,416.83 ' -3,635.06 Net Income ~ ------ 43.781.77 Total Equity - - TOTAL LIABILfIIES 8. EQUITY d3,781.77 ~~. P.Ei Page 1 ~L-2~-2~cP^ 1~ ~ :;1 ~T:25 PM 07129/03. Cash Bards: ~a~~ ~~{~E~ ~~~~aR~En ~ta~~ ~s (.p55 .~artuary 1 ttlrough .itliy Z~, 2003 Jan 1 -Jut Z9, 03 artttnary IncomelExpense income d0'10 ~ tnt®reat - Bank = _ 317.00 _. 317.00 Total Income Expense 8120 • Bank Service Charges 36A0 105.00 6160 • Dues and Subscriptions 266.00 , 6240 • pAiscetta»eous 6270 • Professional Fees 2 168.96 8650•gccounting , Total 6270 • Professional Fees 2.168.96 123.93 6340 • Telephone 6350 • Travel 8~ Ent 22.00 8360 - Entsrtatnment 30 17 8350 -Travel & Ent -Other _ _ . Tote! 6350 • Travel S< Ent 52.17 ' 6450 • Gontrad Labor _ 1,2a0.00 3,952.06 - Total Expense _ - -- -3,635.06 income Net prdinary -- 3,635.06 Net Income _, P . G~? Page 1 TOTAL P.G2 . ~ ~2 APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK Name of organization: Vail Valley Chamber & Tourism Bureau 2. Contact person: Robin Litt Mailing address: 100 East Meadow Drive Vail, CO 81657 4. Telephone: 477-4025 5. Members and Titles of your governing board: Steve Pope, Vail Daily (President); Brian Nolan, Blue Moose (Vice Chairman); Stan Cope, Lodge Tower (Secretary /Treasurer); Bill Anderson, Lions Square Lodge; Mike Brown, Avon Town Council; Bob Borg, Avon Business Association; Tim Cochrane, Eagle Valley Chamber of Commerce; Peggy Curry, Colorado Mountain College; Robert Dallain, Park Hyatt Beaver Creek; Jim Feldhaus, Colorado Mountain Express; John Garnsey, Beaver Creek Resort; Ghiqui Hoffman, Vail Chamber Business Association; Alan Holub, Minutrn Business Association; Bill Jensen, Vail Resorts; Bill Jewitt, Vail Town Council; Arn Menconi, Eagle County Commissioner; Tony O'Rourke, Beaver Creek Resort Company; Dave Pease, Marriott's Mountain Resort; Steve Shanley, Edwards Business Association; Beth Slifer, Slifer Designs. 6. Amount of contribution requested: Use of Donovan Pavillion on the following dates 2003: 7:30 a.m. - 5:00 p.m. on November 4, 7,14,18 and 21 12:30 - 9:30 p.m. on November 10 2004: 6 weekdays during the month of November 7. Organization fiscal year-end: December 31 8. Are your books audited? Yes 9. How will the contribution be used? To host Turn it Up! Customer Service classes attended by business owners & managers. 1 10. How does your request support item 1C of the contribution policy? Turn it Up! Customer Service training classes are attended by 900 business owners and managers. With half of the classes held in Edwards, approximately 450 business owners and managers will attend a Vail session. Designed to develop a culture of outstanding customer service, Turn it Up! is an excellent fit for the Town of Vail and it's mission. With customer service and customer loyalty at the heart of our resort community, it is critical to continue improving the level of service provided throughout our area businesses. This is an outstanding opportunity for the Town of Vail to showcase Donovan Pavillion to community leaders. 11. Who currently funds your organization (other governments, private donations, user fees, etc.)? Contributions from partner dues, lodging partnerships as well as contributions from the Town of Vail, Town of Avon, Beaver Creek Resort Company, Eagle County, Vail Resorts. In particular, Turn it Up! is funded through contributions from authorized associations ($500 each), in kind contribution from Vail Resorts and attendee fee of $35 per person. 12. Organization's mission statement: The Vail Valley Chamber & Tourism Bureau's purpose is to improve the conditions for business success. The Vail Valley Chamber & Tourism Bureau is recognized as the organization dedicated to leading the economic vitality of the community by: • Setting new standards for regional cooperation and collaboration among our stakeholders, including area businesses, government entities and private organization • Attracting and retaining customers • Partnering with area businesses to enhance their level of success Specifically, Turn it Up! has undertaken the effort to create a culture of first rate customer service in the Vail Valley in an effort to increase guest loyalty. Please see attached Turn it Up! Budget for detail on this specific program. Turn It Service Trainin Up! 2003 Customer Ex ease Bud et Facilitator (Paul Kuzniar) + Ex enses $ 15,000.00 Printin $ 2,000.00 Refreshments $ 6,000.00 Room Rental / Set U $ 4,000.00 Advertisin $ 7,000.00 Other Ex enses $ 1,000.00 Total $ 35,000.00 It1COme Bud et Attendee Fee $ 35,000.00 Si nin Or anizations Donation $ 3,500.00 Total $ 38,500.00 Carr forward to 2004 $ 3,500.00 2 APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Instructions: Round all figures to the nearest dollar. Please present in as much detail as possible. Most Recent Completed Fiscal Year (Date: 12/31/02) Assets: Checking/Savings Accounts Receivable Other Current Assets Fixed Assets Total Assets Liabilities: Current Liabilities Other Current Liabilities Total Liabilities 310,522.28 238,584.15 117,171.21 151,300.02 $ 817,577.66 154,195.80 451,526.29 $ 605,722.09 Net Worth (Total Assets Minus Total Liabilities) $ 211,855.57 APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Instructions: Round all figures to the nearest dollar. Please present as much detail as possible. Current Fiscal Year Budget Revenues: $ (List by funding source) TOV Contract 675,284 Contributions 210,000 Commissions 470,483 Sponsorships 131,725 Co-ops, advertising and guides 646,268 Membership dues 354,242 Handling & Inspection fees 125,505 Event Revenue 11,349 LMD Funding 103,988 E-Commerce programs 54,940 BC Marketing Fund 85,767 Merchandise & concession sales 70,310 Interest Income 3,738 Other revenues 62,590 Total Revenue $ 3,006,189 Expenses: $ Personnel services & taxes 1,465,385 Vacation Guide Expense 242,291 Event Subcontracting 165,099 Seed Money 160,000 Co-op Expense 155,991 Public Relations 102,889 Event Expense 124,582 Rent & Utilities 86,495 Phone 83,105 Printing and Advertising 70,456 Website Mgmt 26,309 Depreciation 45,137 Other Operating Expense 284,307 Total Expenses $ 3,012,046 Total Revenue Minus Expense $ ~5,857~ 4 g a3 G~RDEN APPLICATION FOR TOWN OF VAIL FUNDING 1. Name of Organization: Betty Ford Alpine Gardens 2. Contact Person: Helen S. Fritch, President of the Board 3. Mailing Address: 183 Gore Creek Drive, Vail, CO 81657 4. Telephone: 476-0103 5. Members & Titles of your governing Board Helen S. Fritch, President & Acting Director Amy Phillips, Secretary Jim Donohue, Treasurer Howard Gardner, Assistant Treasurer Frank Barborek, Director Helen Beckwith, Director Sherry Durward, Director Alison Hoversten, Director Bill Stufflebeem, Director Todd Oppenheimer,Town of Vail Representative 6. Amount of contribution requested: $75,000 7. Organization fiscal year-end: September 30 8. Are your books audited? Yes, McMahan & Associates-2002 Audit completed. 9. How will the contribution be used? To operate and maintain Betty Ford Alpine Gardens. The cost for the coming year is estimated to be $230,000, and we are asking the Town of Vail to contribute $75,000 of that cost. 183 GORH CREEK llRiVE VAIL COLOKAllO $16$'J PHONE J']O ¢'J6 OI03 FAX 9']O ¢'JC 168$ BETTYFO~R DALPINEGARDENS.ORG In the fall of 2001, when the Board and Staff planned the Children's Garden and the Handicapped Accessible Garden, most of the money was in hand and it was reasonable to assume that the remaining funds would become available as needed. When the funds did not materialize, we made the decision to borrow funds and complete the work rather than leave a partially finished garden. Money was borrowed from a Board member at no interest and from the endowment. We now have two beautiful, finished gardens but must pay back a debt of approximately $109,000. While we will campaign to raise these funds to pay for the new gardens, in the current economic climate it is difficult to raise the funds needed for operating costs as well. We are requesting that the Town of Vail grant $75,000 as an ongoing line item in the RETT fund budget (dedicated to purchase and maintain park lands) to help cover the costs of running and maintaining Betty Ford Alpine Gardens. 10. How does your request support item 1C of the contribution policy? Betty Ford Alpine Gardens provides recreational, educational, and cultural opportunities to all Vail residents and guests through garden activities, garden tours, and programs for children, senior citizens, and the disabled. Betty Ford Gardens attracts thousands of visitors each year and has become a primary summer tourist attraction. We offer regular tours of the Gardens three times a week and tours for special groups, such as the National Conifer Society and North American Rock Garden Society who visited the Gardens this summer. Our Gift Shop sales have grown dramatically, and we have a sales person in the gift shop seven days a week. All these programs depend entirely on volunteers which we conservatively value at $25,000. 11. Who currently funds your organization? Memberships, private donations, benefit events, garden use for weddings & events, gift shop sales, group tours, plant sales, and grants (Town of Vail, Vail Resorts, Vail Valley Foundation, First Bank of Vail, among others.) Like many nonprofit organizations, we have experienced a drop in revenue in recent months and have taken significant steps to reduce expenses without. sacrificing the quality of the Gardens-the most severe cut being the layoff of our Executive Director, Ry Southard. The duties of the Executive Director have been taken over by volunteers. A conservative value of administrative and office volunteers exceeds $40,000. 12. Organization's mission statement: To cultivate harmony between plants and people in our mountain environments. We are horticultural pioneers teaching and celebrating the value of plants in our lives. We provide unique educational and environmental programs; we encourage community beautification; and we create and maintain Betty Ford Alpine Gardens. APPLICATION FOR TOWN OF VAIL FUNDING Statement of Sources and Uses Year Ending September 30, 2003 Revenues (Listed by .funding source) Memberships $41,000 TOV RETT Fund 50,000 Income from Endowment 4,114 Garden Donation Boxes 3,836 Individual Donations 30,596 Grants 34,550 Tours & Facility Use 5,146 Plant Sales -Net 1,692 Benefits -Net 55,765 Gift Shop -Net 26,436 Interest Income 80 Total Revenue $253,275 Expenses Administration $40,315 Gardens 93,410 Education 87,884 Development 8,246 Capital Campaign 5,598 Capital Expenses 8,438 Total Expenses $243,891 Net Revenue Minus Expense $ 9,384 The figures above are actual to June 30, 2003. The balance of the year is a projection. APPLICATION FOR TOWN OF VAIL FUNDING Balance Sheet Year Ending September 30, 2002 Assets Cash $18,965 Endowment 215,985 Pledges 19,285 Gift Shop Inventory 1,111 Fixed Assets 2,278,344 Total Assets $2,533,690 Liabilities Accounts Payable $39,517 Sales Tax Payable 5,703 Payroll Liabilities 8,881 Loan 60,000 Loan from Endowment 25,000 Total Liabilities $139,1 O l Net Worth $2,394,589 Total Liabilities & Equity $2,533,690 APPLICATION FOR TOWN OF VAIL FUNDING GENERAL INSTRUCTIONS All applications must be submitted to the Town of Vail by Thur. July 31, 2003 by 5:00 P.M.. You must provide 12 copies of the application. Any application received after that date or-any application packet with fewer than 11 copies will not be considered. Please send application to: Town of Vail Penny Harpe, Accounting Tech. 75 South Frontage Road Vail, Colorado 81657 For questions on the financial statements, please contact Penny Harpe at 479-2100. PLEASE TYPE THIS APPLICATION OR PRINT IN BLACK INK 1. Name of organization: V 1F~L..~c~~-.v-r: c~ 2. Contact person: ~~ ~~~~ 3. Mailing address: 4. Telephone: ~7 Q- ~3~ ~ 5. Members and Titles ofr ~o~ur~ governin board: 6. Amount of contribution requested: g~ ~ ~ 7. Organization fiscal year-end: , ~ f ~' 8. Are youx books audited? ~,( ~S 9. How will the contribution be used? t n ~.QC'SJ[~1 t~ L V i'1~C 1~ \N ~Skt L WKC.~~ 10. How does your request support item 1C of the contribution policy? ~t26vt~ol~s ~'~~~°r~c.~ ~~~~~ ~o S~t~c2~" ~i7lf ~N ~ 11. Who currently funds your organization (other governme s, private d ati ns, user fees, etc.)? 12. Organization's mission statement: ~ \S 1 T --i7t-~ `1-1zV ~{ ~~;~ ?'6 .~ LL-~Q~C1 cf~lz~t ~~ (If more room is needed to answer questions, please use the bac~-of-this page.) Vail Tubber buck face Silver Sponsor nonation ~ I , 000 Your sponsorship package includes the following; Inclusion in 5 Local newspaper ads Inclusion in went fosters Name on went Banner five buck pace Souvenir 1~rshirts 20 ducks entered into race ~ ides, i~ou could win a prize .ROTARY CLUB OF VAIL-EAGLE VALLEY P.O. Box 991 Vail, CO 81658-0991 John Power Town of Vail 75 South Frontage Road Vail, CO 81657 Vail-~agle Valley potar~ Club Vail pubber buck I~ace 2003 May 2003 Dear John, The organizing committee of the Vail Rubber Duck Race 2003 would like to extend a sponsorship opportunity for your company to be showcased at the 2003 event. The goal of the Duck Race 2003 is to once again raise much needed funding for the charitable activities of the Vail-Eagle Valley Rotary Club, particularly the Foundation Scholarship Fund. Last year, the Vail-Eagle Valley Rotary Club gave over $35,000.00 in scholarships to local Eagle County high school students! It is through the generosity of businesses such as yours that the event has become the success it is today. The Vail- Eagle Valley Rotary Club thanks you for your time in considering this opportunity. We are hoping to make this year the most successful yet! The event itself consists of thousands of little yellow rubber ducks racing down Gore Creek through Vail Village to the International Bridge past thousands of cheering spectators. Locals and visitors from throughout the Vail Valley, as well as nationwide, will adopt these ducks over-the next few months. This year's Duck Race is taking place on Sunday, August 31st. The day's exciting activities will include live entertainment, great food, and various children's activities. As a Duck Race sponsor, your are a big supporter of the Rotary club's work in the Vail valley and you will receive the benefits of immeasurable exposure to local media as well as the public. Our sponsors enjoy exposure over a long period of time in many different medias and venues in the high-profile Vail valley. You will be included as a valued sponsor in all appropriate collateral materials, race promotions, and radio and N advertising. Major sponsorship opportunities and levels are outlined in this packet. We would be excited and grateful to have your company as a sponsor for the Rotary Club's Vail Rubber Duck Race 2003. Please feel free to call me at 970-328-1590 if I can answer any questions regarding the event. Sincerely, ~~ ~ ~ , ~~i% J Cindy Callicrate Sponsorship Chair Vail-Eagle Valley Rotary Club .~ (~a Vail-~agle Valle{ po~,ar~{ Club T ubber buck p ce 2003 WHAT: WHEN: WHERE: WHY: Thousands of little yellow rubber ducks racing down Gore Creek through Vail Village Sunday, September August 31, 2003 Gore Creek Promenade, Vail Colorado To benefit the Vail-Eagle Valley Rotary Foundation Scholarship Fund and local non-profit organizations SCHEDULED ACTIVITIES: Live Entertainment Face Painting Caricatures Great Food and More! RUBBER DUCK RACE: Race Start approximately 3:OOPM from the Covered Bridge Finish Line at the International Bridge BENEFICIARIES: The Vail-Eagle Valley Rotary Foundation Scholarship Fund The Rotary Child Health Task Force Community Pride I-70 Clean-Up Day Eagle County youth sports programs Other Vail Valley non-profit organizations INFORMATION: Bob Brown, Event Co-Chair 970-328 -6333x2100 Greg Finch, Event Co-Chair 970-845-7838 Cindy Callicrate, Sponsorship Chair 970-328-1590 Vail-Eagle Valley Rotary Club Post Office Box 991 Vail, CO 81658-991 Email: rbrown _cmnm.ora QregdundeeCa7_aol.com cindy callicrateco.com ORDINANCE NO. 18 SERIES 2002 AN ORDINANCE REPEALING AND REENACTING ORDINANCE N0.7 AND ORDINANCE NO. 13, SERIES OF 2002 (COMMISSION ON SPECIAL EVENTS), PROVIDING FOR CORRECTIONS AND AMENDMENTS, AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, it is the Town Council's opinion that the health, safety and welfare of the citizens of the Town of Vail would be enhanced by the establishment of a special events program setting forth policies and guidelines relating to the funding, reviewing, oversight and orchestration of special events to be presented in the Town of Vail. WHEREAS, to insure a single contact point for special event operations in Vail; and WHEREAS, to be supportive of providing street entertainment and special events for vitality, economic viability, and fun year'round; and WHEREAS, to increase the Town of Vail's lodging occupancy and sales tax collections; and WHEREAS, to create a sense of community in Vail and increase the quality of experience for guests and residents; and WHEREAS, to administer Special Events, the Town Council, in accordance with Section 8.6 of the Charter of the Town of Vail, wishes to create a Commission on Special Events ("CSE"); and WHEREAS, certain errors occurred in the drafting and adoption of Ordinance Nos. 7 and 13, Series of 2002 (Commission on Special Events) NOW, THEREFORE, be it ordained by the Town Council of the Town of Vail, Colorado, that: Ordinance No. 7 and Ordinance No. 13, Series of 2002, are hereby repealed and reenacted and Title 3 of the Municipal Code of the Town of Vail is hereby amended by the addition of Chapter 6, Commission on Special Events, to read as follows: Section 1. Board Established The Town Council hereby establishes the Town of Vail Commission on Special Events ("CSE") composed of five (5) voting members who shall act in accordance with the Charter, this Chapter, the direction of the Town Council, as outlined in this ordinance, the ordinances of the Town of Vail, and shall be appointed and serve at the pleasure of the Town Council as provided in this Chapter. Section 2. Definitions A. Special Event - A Special Event is a function whose primary purpose is to promote an exciting, lively, fun and/or prosperous business climate within the Town of Vail. B. Qualifying Cultural Event - A Qualifying Cultural Event is a function whose primary purpose is cultural in nature rather than economic. These events are typically, but not necessarily, held in a performing arts venue such as Ford Amphitheater or Dobson Arena. The Town Council shall establish by Resolution anon-exclusive list of Qualifying Cultural Events. Section 3. Members -Appointments -Terms The CSE shall consist of five (5) voting members appointed by the Town Council to be designated F:\twnclerk\wpfiles\CODE\ORDINANC\Ord2002\Ord 18.doc 1 as follows: 1 Retail; 1 Restaurant; 1 Lodging; 1 (from any of 3 categories previously stated); 1 at large. All five voting members shall be residents of the Town of Vail, own real property within the Town of Vail, own a business in the Town of Vail, or be employed within the Town of Vail. No current event promoters, producers or board members of organizations requesting funding, or their employees, may serve as voting members. The initial terms of two members of the CSE shall be for one year, and the initial term of three members shall be for two years, to be appointed in 2002. Thereafter, the council shall annually appoint CSE members to two year terms every January. In addition to the five voting members of the CSE, up to ten (10) honorary advisory member groups may be included by Council invitation. In order to act as an honorary advisory member of the CSE, each member group shall nominate one representative within that group to be ratified by Council. Honorary advisory member groups shall be approved by council and may include: Vail Resorts, inc. (VRI) Vail Valley Foundation (WF) Vail Valley Chamber and Tourism Bureau (WCTB) Vail Chamber and Business Association (VCBA) Vail Recreation District (VRD) Town Council Town of Vail staff Vail Local Marketing District Advisory Council (VLMDAC) Ratified, honorary advisory members shall assist the CSE by providing information, coordination and consultation and shall not have the power to vote on issues that come before the CSE. The number and terms of such advisory members shall be at the discretion of the Town Council. Advisory members of the CSE should be individuals who have a demonstrated expertise in special event production, establishment of criteria by which to gauge event success, or knowledge of and/or a strong interest in special events. Section 4. Removal From Office Members of the CSE shall serve at the will of the Town Council and shall be subject to removal by the Town Council for inefficiency, neglect of duty, failure to attend meetings (70% mandatory attendance at scheduled meetings), malfeasance in office, or any other reasons the Town Council deems proper. Section 5. Vacancy Vacancies on the CSE shall occur whenever a member of the CSE reaches the end of his term, is removed by the Town Council, dies, becomes incapacitated and unable to perform his or her duties for a period of sixty (60) days, resigns, ceases to meet the qualifications for CSE members or is convicted of a felony. Vacancies shall be filled by a majority vote of the Town Council. Section 6. Officers -Meetings -Rules The CSE shall be chaired by the advisory Town Council member until the commission decides a director is appropriate or decides otherwise as to a different chairperson. The term of the Chairman shall be F:\twnclerk\wpfiles\CODE\ORDINANC\Ord2002\Ord 18.doc 2 for one two-year term to coincide with the Town's regular municipal election, with eligibility for re-election for three additional two-year terms. The CSE shall meet as it determines to be necessary, and its meetings shall be in accordance with Roberts Rules of Procedure unless it adopts other rules for the transaction of business. Three or more members must vote for any action for it to pass. The CSE shall keep a record of its resolutions, transactions, findings and determinations. The CSE will provide quarterly informational reports to the Vail Town Council, in addition to a full annual financial report at budget time. An annual evaluation of events shall be included. Section 7. Functions of the CSE The CSE shall support the Town Council's goals and objectives and align its mission with the Town Council's marketing direction. The Functions and/or duties of CSE shall include, but are not limited to: Hiring and overseeing a director and/or staff, as well as event producers and/or promoters; creating, funding and seeking special events for the Town of Vail; evaluating event applications and event success; submitting an annual budget for operations and events; coordinating the community calendar for special events: seeking out additional funding for special events through sponsorships and donations; evaluating and executing contracts for special events; and all other functions as directed by the Town Council. Qualifying Cultural Events shall be exempt from the purview and funding of the CSE. However, coordination and timing of Qualifying Cultural Events shall be considered by the CSE and included in the CSE master calendar. Section 8. Appeal to Town Council A. An appeal to the Town Council may be made by an adjacent affected property owner or by the Town Council itself by a majority vote. a. Any appeal must be filed in writing within ten (10) days following the decision of the CSE, or must be called up by the Town Council within 10 days of the decision. c . The Council shall hear the appeal within 30 days of its being filed or called up with a possible 30-day extension if the Council finds that there is insufficient information. 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. 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. 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 F:\twnclerk\wpfiles\CODE\ORDINANC\Ord2002\Ord 18.doc 3 superseded unless expressly stated herein. 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 2nd day of July, 2002 and a public hearing shall be held on this Ordinance on the 16th day of July, 2002, at 7:00 p.m. 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 by title only this 16th day of July, 2002 Ludwig Kurz, Mayor ATTEST: Lorelei Donaldson,. Town Clerk F:\tvurtclerklwpfiles\CODE\ORDINANC\Ord2002\Ord 18.doc 4 MEMORANDUM To: Town Council From: Judy Camp Date: August 13, 2003 Subject: Budget Discussion I am attaching the following information for the budget discussion on Tuesday: • Budget Calendar • Capital Projects Fund Five-Year Projection • General Fund 2004 Budget Proposal • Summary of Changes in Personnel for 2004 Budget Proposal • Employee Benefits for 2004 Budget Proposal • Health Insurance Fund 2004 Budget Proposal • Vail Marketing Fund 2004 Budget Proposal Capital Proiects Fund Five-Year Proiection Per your discussion on August 8t , I have updated the comments related to the police and fire equipment to include your direction to seek grant funding before proceeding with any purchases. General Fund 2004 Budget Proposal The attached schedule shows the 2004 General Fund budget proposal compared with the 2003 Amended Budget and compared with the Five-Year General Fund Projection for 2004 last presented to you on June 12. Proposed revenue totals $21,143,677 and proposed expenditures total $20,809,044 resulting in an increase in fund balance of $334,633. Revenue Revenue for major categories is as discussed in previous meetings. Sales tax is budgeted with 60% going to the General Fund, which will require a super majority vote on the budget ordinance. Variances in major revenue items include a reduction in property tax compared with 2003 because of the change in the assessment ratio applied to market values ofresidential property. This was previously included in the Five- Year Projection. Reductions in the county road and bridge and highway user's tax account for part of the reduction in Intergovernmental Revenue as previously discussed. Additional reductions in that category are in cigarette taxes which are trending downward and in other state revenue where we will record one- time pass-through revenue from the Northwest Council of Governments' second home owners study in 2003. Other variances in major revenues include increases in ski lift tax based on trend information; licenses and permits reflecting fee increases; and. parking revenue as experienced in 2002. The remaining revenue items have been reviewed and adjusted based on trends and contract information. The significant increase in Charges for Services includes Conference Center Fund management fees ($163,000) and Dispatch Services Fund occupancy charges ($30,835) which are included in the budget for the first time and RETT management fees which have been adjusted to 5% of revenue. Rental revenue includes Donovan Pavilion for the first time ($182,000) offset by reductions in revenue from employee housing. Miscellaneous revenue included aone-time refund of seed money from the VVCTB in the 2003 budget which was also projected into 2004 in the five-year model and has now been eliminated. Expected revenue from Holy Cross Energy and other miscellaneous items has also been reduced based on 2003 actual revenue. Expenditures The budget reductions agreed to last spring were included in the 2003 amended budget to the extent that they were implemented in 2003. The 2004 year in the Five-Year Projection. incorporated. the agreed reductions on a full year basis. The Donovan Pavilion expenditures ($233,000) have been included. in the attached budget proposal for the first time as has the revenue mentioned above. The 2004 Budget Proposal includes funding for 8.2 fewer full-time-equivalent (FTE) positions in all funds than the 2003 original budget, including a net reduction of 6.2 approved positions and. two frozen positions per the attached schedule. Personnel reductions included in the Five-Year Summary were offset in the salary budget by an increase in the amount budgeted for the Town Manager's salary; inclusion in the salary budget of the GIS Specialist who was funded partially from reductions in non-salary line items; an adjustment to show agrant-funded detective position. on a full-year basis rather than a grant year; and addition of a seasonal heavy equipment operator for snow removal at Donovan Pavilion, the West Day lot, and other additional parking areas. Merit increases are budgeted at 3.25%, consistent with the assumptions in the Five-Year Projection. The overtime budget has been further reduced primarily in Streets and Facilities Maintenance as a result of scheduling and. more employees taking compensation time rather than pay for overtime hours. The 2002 proposed budget for benefits is an increase from 2003 primarily because of increases in the number of employees participating in the health insurance program and increases in stop loss premiums. These increases were partially offset by a reduction in the cost of long-term disability insurance resulting from a change in carriers. Increases in benefits costs are less than projected in the Five-Year Plan. No changes in benefit plan design or employee contributions are anticipated. Benefits rates, i.e., benefit costs as a percentage of salaries, are essentially unchanged from 2003 at 36.6% overall (39.3% for regular, full- time employees and 12.5% for part-time and seasonal employees) as shown in the attached schedule. Contributions and Special Events funded from the General Fund are included in the 2004 proposal at the same level as the Five-Year Projection. (Note that some contributions are funded from the RETT Fund and the Marketing Fund.) The amount of contributions included in the budget proposal is consistent with the Town Manager's recommendation to be discussed in the evening meeting and incorporates a reduction of $150,000 for the elimination of funding from this source to the Vail Local Marketing District as previously discussed. (Note that the VLMD also receives funding from the 1.4% lodging tax.) All other operating expenses are unfavorable primarily because Donovan Pavilion expenditures of $233,000 are included for the first time. The 2004 proposed budget includes a reduction in liability insurance premiums of $100,000 as committed in last spring's budget reductions and reflected in the 5- Year Projection. This was achieved by switching coverage to Colorado Intergovernmental Risk Sharing Agency (CIRSA) and increasing deductible amounts. Heavy equipment operating charges and heavy equipment replacement charges have not yet been updated. and. are included at the Five-Year Projection amount. Health Insurance Fund 2004 Proposed Budget The Health Insurance Fund is used to account for the health insurance plan provided by the Town to its employees. Since the town is self-insured, the claims paid are reported through this fund. Revenue to this fund includes the amounts charged to the town's other funds to cover the costs of the health insurance program. The proposed budget for claims to be paid in 2004 is flat with 2003 based on current claims experience. Vail Marketing Fund Marketing Fund revenue consists of the business license fee and is restricted for expenditures related. to marketing the Town of Vail. A 5% collection fee is paid to the general fund for administering the business license fee. In 2004, $300,000 from the marketing fund is budgeted for a portion of the contribution to the Commission on Special Events. Version 4 Changes Highlighted Town of Vail Proposed 2004 Budget Timetable Contributions Council criteria discussion 05/20/03 Complete Deadline for return of packets 07/31/03 Complete Commission on Special Events presentation to Council 07/01/03 Complete Council evaluation of requests and direction for 2004 budget 08/19/03 Budget Guidelines Council decision on VCBA & WCTB funding 06/03/03 Complete Council discussion of budget philosophy and timetable 06/17/03 Complete Guidelines distributed to department heads 06/23/03 Complete VRI presentation to Council on lift tax revenue 07/01/03 Complete Presentation of 2002 audit report to Council 08/05/03 Complete Council decision on streetscape plan 08/05/03 Complete 2003/2004 parking plan discussion 08/19/03 Budget Preparation Capital budget request for county funds submitted 06/13/03 Complete Staff prepares departmental budgets 06/23/03 to 07/18/03 Council discussion of major revenue items 07/01/03 Complete Council decision on major revenue items 07/15/03 Complete Council review of first draft of 5-year capital projection 07/15/03 Complete Council review of first draft of 5-year RETT projection 07/15/03 Complete Council discussion of major revenue items - constuction fees 08/05/03 Complete Council review of second draft of 5-year capital projection 08/05/03 Complete Council review of second draft of 5-year RETT projection 08/05/03 Complete Town Manager reviews departmental budgets 07/24/03 to 07/29/03 Town Manager's budget complete 08/13/03 Complete Council review of first draft proposal 08/19/03 Council review of second draft proposal 09/02/03 Budget Documentation and Reporting First reading of 2004 budget ordinance 09/16/03 Second reading of 2004 budget ordinance 10/07/03 First reading of mil levy certification ordinance 11/18/03 Second reading of mil levy certification ordinance 12/02/03 Mil levy certification deadline to Eagle County 12/15/03 Budget book submission 12/31/03 Calendar 8/14/03 Version 3 Changes per Council 8/5Po3 SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Revenue Sales Tax Federal Grant Revenue Lease Revenue CDOT Reimbursement Parking Assessments Buy-Down Program Sale of Assets Transfer from Heavy Equipment Fund Project Reimbursement Eagle County Grant Revenue Interestlncome & Other Total Revenue Expenditures Equipment Purchases Document Imaging Software & Hardware Upgrades Web Page Development/Ecommerce Eagle County CAD / RMS Project Radio System East Vail Repeater Video Security for Jail Patrol Car Video Cameras Fire Truck ORV for Fire Dept Fire Department Breathing Apparatus RepowerBuses Replace Buses GPS for Buses 800 MHz radio system Other Subtotal Equipment Purchases Capital Maintenance Bus Shelter Replacement Bear Proof Trash Containers Capital Street Maintenance Parking Structure Maintenance Parking Structure Improvements General Facility Improvements Subtotal Capital Maintenance Street Reconstruction Vail Valley Drive -Design Vail Valley Drive - 1st Phase Subtotal Street Reconstruction 2002 2003 2004 Actual Amended Proposed Unaudited Budget. Budget 2005 2006 2007 2008 Protect Infonrnation $ 4,926,729 $ 5,765,425 $ 5,890,320 $ 5,949,223 $ 6,008,715 $ 6,068,803 $ 6,129,491 2,046,386 725,200 692,000 811,800 4,536,000 1,344,000 201,980 150, 000 150,000 150,000 1 b0,000 150,000 150,000 1,000,000 - 12,340 - 8,842 1,000,000 748,334 - 650,000 - 94,632 215,000 555,000 188,590 45,000 45,000 45,000 45,000 45,000 45,000 7,831,447 9,221,811 7,365,520 6,836,223 7,015,515 10,799,803 7,668,491 32,640 100,170 40,000 40,000 40,000 40,000 40,000 OCE maintenance, software upgrades, contract position 192,019 58,000 172,000 42,000 58,000 72,000 43,000 Desktop OS upgrades, replacement PC's, server upgrades 15,400 34,600 12,000 12,000 12,000 12,000 12,000 Web / FTP / E-Commerce development and upgrades 1,515 138,485 250,000 50,000 50,000 50,000 50,000 County wide Computer Aided Dispatch /Records Mgmt System 82,901 - 2 new stations & radio towers. Towers partially reimbursed 320,000 11,500 Comprehensive system to record all cameras; reduces liability 22,500 22,500 Grant funding to be pursued before purchase 735,000 Replace pumper; refurbish Aerial Pumper 100,000 Quick Response Vehicle 25,000 25,000 30,000 Replacement of cylinders and compressor; grant funding to pursued be 152,000 126,000 126,000 Replace transmissions and engines to extend useful life 20,509 2,475,490 1,264,000 1,010,400 3,834,000 150,000 150,000 375,000 151,898 152,372 Principal and interest payments for lease/purchase 181,000 300,000 496,882 3,431,117 2,173,000 1,351,900 691,000 1,090,000 4,279,000 9,998 30,000 10,000 30,000 10,000 30,000 10,000 40,000 In the Village 706,053 832,947 740,000 890,000 932,000 1,032,000 950,000 Preventive maintenance, patching, overlays and seal coats 45,000 585,594 435,000 340,000 420,000 525,000 440,000 460,000 Various Parking Structure Improvements 124,765 470,000 519,000 280,000 375,000 360,000 340,000 Various Facility Capital Improvements 1,426,410 1,852,947 1,609,000 1,620,000 1,842,000 1,862,000 1, 760,000 17,070 142,930 Vail Valley Drive Golden Peak to Sunburst, and Mill Creek Circle, with I 340,000 Reconstruct Vail Valley Drive in segments 17,070 482,930 - - - - - 40% of total sales tax allocated to Capital Projects in 2003 Bus replacements & Intermodal Lease revenue from City Market & employee housing Reimbursement for the roundabout construction Revenue from Parking Pay-in-Lieu Program Sale of Deed Restricted Units Purchased by the Town Sale of Old Town Shops & portion of land in West Vail To Fund Town Shop Improvements Gymnastics facility & E. Vail repeater Countywide Computer Aided Dispatch& E. Vail Repeater 030819 ~ 8/14/03 Version 3 Changes per Council 6/5/03 SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND Buildings & Improvements Library Building Remodel Hud Wirth Land Fire infrastructure improvements Fiber Optics in Buildings Dobson Ice Arena Way Finding Improvements Town Shop Imp -Storage Project Donovan Park Pavilion Indoor Recreation/Gymnastics Subtotal Bldgs /Improvements streetscape Protects West & East Meadow Drive Village streetscape Subtotal streetscape Projects Housing Program Mountain Bell Housing Ruins Buy-Down Program Timber Ridge Subtotal Housing Program Lionshead Redevelopment Lionshead Master Plan 2002 2003 2004 Actual Amended Proposed Unaudited Budget Budget 2005 2006 2007 2008 Project Information 2,083 85,000 2,598,231 - 663 179,337 70,000 15,000 15,000 15, 000 15,000 15,000 5,738 9,262 28,202 100,000 972,435 552,565 686,184 2,156,631 195,000 4,293,536 3,347,795 15,000 15,000 15,000 15,000 15,000 231,677 247,323 1,182,000 170,332 29,668 1,867,000 787,000 402,009 276,991 1,867,000 1,969,000 Remodel of the Library Public Restrooms &janitorial closet Design costs Cabling /Network Infrastructure Vail Recreation District - to expand capacity Signs in town, on I-70, & in parking structures -adds maintenance Complete project Move to Avon temporarily; Red Sandstone site Construct streetscape plan, drainage, lighting. public art and landscapir Design in 2002; additional funding from RETT 36,239 - 8,415 - 18,054 1,100,000 100,000 100,000 100,000 100,000 100,000 Net cost of deed restricted units for resale 940,000 925,000 $925K Replenishment reserve 62,708 2,040,000 1,025,000 100,000 100,000 100,000 100,000 29,198 120,802 350,000 Intermodal Site 3,750,000 Subtotal Lionshead Redevelopment 29,198 120,802 350,000 3,750,000 Other Improvements Parking Study 5,690 - Loading and Delivery Studies 8,396 Street Light Improvement Program 58,797 50,000 50,000 50,000 50,000 50,000 50,000 Drainage Improvements 10,736 142,960 75,000 75,000 75,000 75,000 75,000 Vail Today 23,718 10,000 -70 Noise 247,500 250,000 250,000 250,000 250,000 250,000 Memorial Park Loan 50,000 Subtotal Other Improvements 98,941 508,856 375,000 375,000 375,000 375,000 375,000 Total before Trensfere 6,826,754 12,061,438 7,414,000 5,430,900 3,023,000 7,192,000 6,529,000 Transferfor Debt Service 2,328,929 1,878,449 2,337,897 2,422,154 2,236,200 3,233,497 2,321,825 Total Expenditures 9,155,683 13,939,887 9,751,897 7,853,054 5,259,200 10,425,497 8,850,825 Revenue Over (Under) Expenditures (1,324,236) (4,718,076) (2,386,377) (1,016,831) 1,756,315 374,306 (1,182,334) Beginning Fund Balance 10,020,101 8,695,865 3,977,789 1,591,412 574,581 2,330,897 2,705,202 Ending Fund Balance $ 8,695,865 $ 3,977,789 $ 1,591,412 $ 574,581 $ 2,330,897 $ 2,705,202 $ 1,522,868 Design costs to implement Town improvements: Construction costs for Lionshead Redevelopment will be funded from developer contributions, TIF, Eagle County & other sources. Finish Project Add new street lights and refurbish residential lighting program Continue implementation of drainage master plan To fund debt service on all Town bonds 030819 2 8/14/03 TOWN OF VAIL 2004 BUDGET PROPOSAL SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE GENERAL FUND Revenue Local Taxes: Sales Tax Property and Ownership Ski Lift Tax Franchise Fees, Penalties, and Other Taxes Licenses & Permits Intergovernmental Revenue Transportation Centers Charges for Services Fines & Forfeitures Earnings on Investments Rental Revenue Miscellaneous Total Revenue Expenditures Salaries Overtime Benefits Subtotal Compensation and Benefits 2003 2004 2004 2002 2003 Amended Per Proposed Actual Budget Budget 5-Yr Projection Budget $ 10,300,469 $ 8,814,575 8,814,575 8,902,721 8,835,480 2,799,910 2,835,511 2,835,511 2,721,964 2,711,900 2,344,921 2,188,920 2,188,920 2,210,809 2,420,500 655,070 626,500 626,500 642,163 643,500 932,773 864,000 864,000 885,600 986,320 1, 336,315 1, 348,566 1,416,066 1,451,468 1, 322,650 2,675,488 2,315,000 2,315,000 2,372,875 2,573,500 494,563 355,771 355,771 364,665 607,485 223,227 197,000 197,000 201,925 189,250 163, 460 106, 000 106, 000 175, 000 109, 000 499,616 550,041 550,041 563,792 707,142 280,278 181,893 181,893 186,440 36,950 22,706,090 20,383,777 20,451,277 20,679,422 21,143,677 8,765,606 9,108,297 9,090,970 9,250,003 9,305,087 646,519 467,886 467,886 483,092 444,047 3,125,628 3,336,662 3,289,861 3,490,707 3,393,119 12,537,753 12,912,845 12,848,717 13,223, 802 13,142,253 Version 7 Fav (Unfav) Fav (Unfav) \ vs 2003 vs Amended 5-Yr Projection 20,905 (67,241) (123,611) (10,064) 231,580 209,691 17,000 1,337 122,320 100,720 (93,416) (128,818) 258,500 200,625 251,714 242,820 (7,750) (12,675) 3,000 (66,000) 157,101 143,350 (144,943) (149,490) 692,400 464,255 (214,117) (55,084) 23,839 39,045 (103,258) 97,588 (293,536) 81,549 Contributions and Special Events 1,218,402 1,128,246 1,128,246 978,246 978,000 150,246 246 AIIOtherOperatingExpenses 4,386,781 4,183,961 4,254,066 4,072,611 4,322,942 (68,876) (250,331) Heavy Equipment Operating Charges 1,270,349 1,428,466 1,419,466 1,499,661 1,499,661 (80,195) - Heavy Equipment Replacement Charges 351,620 387,661 387,661 402,375 402,375 (14,714) - Dispatch Services 464,514 450,531 450,531 458,121 463,813 (13,282) (5,692) Total Expenditures 20,229,419 20,491;710 20,488,687 20,634,816 20,809,044 (320,357) (174,228) Revenue Over (Under) Expenditures 2,476,671 (107,933) (37,410) 44,606 334,633 372,043 290,027 Beginning Fund Balance Ending Fund Balance 4,173,839 6,650,510 6,650,510 6,613,100 6,613,100 $ 6,650,510 $ 6,542,577 $ 6,613,100 $ 6,657,706 $ 6,947,733 F:\Users\FINANCE\BUDGET\budget04\20046udgetBook 8/14/03 Version 1 Town of Vail 2004 Budget Proposal Summary of Changes in Personnel From 2003 Original Budget to 2004 Budget Proposal FTE's* Comments Full Time Regular Positions Town Clerk Assistant (0.40) Deputy Court Clerk (0.60) Accounting Technician 0.40 Conference Center Funded from savings in other positions & GIS Specialist 1.00 departments Funded from grant revenue; position will be Detective -Drug Task Force 0.50 terminated in June if not funded Fire Department Secretary (0.20) Responsibilities shifted to Finance Bus Driver (1.00) Library Director (1.00) Library Staff (1.37) Shifted some positions to part-time Subtotal Full-Time Regular Positions (2.67) Seasonal and Part-time Positions Housing Assistant (0.48) Police Computer Tech (0.48) Heavy Equipment Operator -Summer (0.10) Shortened Season Parking Hosts (1.80) Bus Drivers (0.96) Utility Shift and Donovan Park Shuttle Parking Clerk (0.46) Responsibilities shifted to Public Works Admin Heavy Equipment Operator 0.50 Snow removal -Donovan and W. Day Library 1.37 Shifted from full-time regular positions Landscapers (1.87) Fewer landscapers and shortened season Subtotal Seasonal and Part-Time (4.28) Subtotal Changes in Operating Personnel (6.95) Capital Projects 0.75 Document Imaging Specialist (contract) Total Changes Including Capital Projects (6.20) Note: An additional two positions in the Police Department have been frozen and are not budgeted for 2004 * Full-Time Equivalents F:\Users\FINANCE\BUDGET\budget04\salaryspreadsheet2004 1st Draft 030813 8/13/03 Town of Vail Employee Benefits 2004 Budget Proposal Full-Time Regular Employees Fee Based Health Insurance Group Term Life and ADD Insurance Long-term Disability Insurance Survivor's Life Insurance Short-term Disability Insurance Wellness Benefit Flexible Spending Accounts FPPA Contribution Subtotal Fee Based Payroll Based Pension Contribution Medicare Workers' Compensation Insurance Unemployment Compensation Insurance Subtotal Payroll Based Total Full-Time Benefits Part-Time and Seasonal Employees Fee Based Wellness Payroll Based Pension contriburion Medicare Workers' Compensation Insurance Unemployment Compensation Insurance Subtotal Payroll Based Total Part-Time and Seasonal Benefits Total Benefits -All Employees 1,571,000 62,500 41,600 79, 800 25,000 83, 000 0 27,000 1, 889, 900 1,607,004 145,992 281,916 30, 205 2,065,118 3,955,018 72, 900 17,029 16,461 31,788 3, 406 68,684 141, 584 Salary 15.6% 0.6% 0.4% 0.8% 0.2% 0.8% 0.0% 0.3% 18.8% 16.0% 1.5% 2.8% 0.3% 20.5% 39.3% 6.4% 1.5% 1.5% 2.8% 0.3% 6.1 12.5% 4,096,602 36.6% F:\Users\FINANCE\BUDGET\budget04\salaryspreadsheet2004 1st Draft 030813 8/13/03 TOWN OF VAIL 2004 BUDGET PROPOSAL HEALTH INSURANCE FUND 2003 2003 2004 2002 Original Amended Proposed Actual Budget Budget Budget Revenue Town of Vail Interagency Charge -Premiums $ 1,440,764 $ 1,533,985 $ 1,533,985 1,596,000 Employee Contributions 177,595 200,000 200,000 207,000 Earnings on Investments 10,897 10,000 10,000 8,000 Total Revenue 1,629,256 1,743,985 1,743,985 1,811,000 Expenditures Health Inusrance Premiums 220,102 245,985 245,985 309,000 Claims Paid 1,153,134 1,450,000 1,450,000 1,450,000 Shor-term Disability Pay 22,446 23,000 23,000 25,000 Professional Fees 26,000 25,000 25,000 27,000 Total Expenditures 1,421,682 1,743,985 1,743,985 1,811,000 Revenue Over (Under) Expenditures 207,574 - - - Beginning Fund Balance 549,501 757,075 757,075 757,075 Ending Fund Balance $ 757,075 $ 757,075 $ 757,075 $ 757,075 Version 1 F:\Users\FINANCE\BUDGET\budget04\2004BudgetBook 8/13/03 TOWN OF VAIL 2004 BUDGET PROPOSAL MARKETING FUND Revenue Business Licenses Earnings on Investments Total Revenue Expenditures Marketing Expenses Collection Fee -General Fund Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance 2002 Actual $ 310,692 3, 875 2003 Original Budget $ 318,000 - 2003 Amended Budget $ 318,000 - 2004 Proposed Budget $ 316,000 - 314,567 318,000 318,000 316,000 295,158 15, 535 308,000 12, 720 308,000 15, 900 300,000 15, 800 310,693 320,720 323,900 315,800 3,874 (2,720) (5,900) 200 28,292 32,166 32,166 26,266 $ 32,166 $ 29,446. $ 26,266 $ 26,466 Version 1 F:\Users\FINANCE\BUDGET\budget04\2004BudgetBook 8/13/03 TO: Vail Town Council FROM: Community Development Department Staff: Russ Forrest DATE: August 19, 2003 SUJECT: Evaluation of Dwelling Units, Hotels, Condominium Hotels, and Fractional Fee/Timeshare Units in Vail, Colorado 1. PURPOSE The purpose of this worksession is to: • Review the economic impacts of dwelling units, accommodation units, and fractional fee/timeshare units in the Town of Vail, and • Review policy related issues related to guest lodging with the Town Council that should be further considered. This memo is intended to highlight the key issues related to these topics. A power point presentation prepared by staff will provide additional information on these topics and will be presented to the Town Council on August 19th, 2003. The primary sources of information for this analysis came from the Town of Vail Finance Department, RRC Associates in Boulder, Chuck Madison from East West Partners, John Lee and Daniel Bryan from the Harvard School of Business, The Hoffman Institute, and the Urban Land Institute. 2. EXISTING LODGING DEVELOPMENT TYPES The following information describes the current stock of guest lodging types and the proposed types now being considered in the development review process. 2.1 Definitions This analysis addresses 4 guest lodging types that the Vail Finance Department has sales tax data on. These four types include: • Accomodation Units • Dwelling Units available for short term rental • Condominium Hotels • Fractional Fee/Time Share units Accommodation Units: An accommodation unit includes traditional hotel rooms and is defined in Section 12-2-2 of the Zoning Regulations. According to existing regulations, an accommodation can not be individually owned. The Average Daily Rate (ADR) of accommodation units can vary widely depending on location, amenities, services, quality of the accommodations, etc. Dwelling Units: A dwelling unit is defined in Section 12-2-2 of the Zoning Regulations. Dwelling units maybe individually owned and exist in many different forms. For example, single family residences, duplex residences, and multiple family buildings of varying densities. A dwelling unit maybe short term rented provided that the unit is not rented for a period of greater than thirty one (31) days and that the entire dwelling unit is rented to the same guest(s) for the duration of the rental period. To rent portions of a dwelling unit to different guests during the duration of the rental period would be permitted as a "bed and breakfast" and regulated as such pursuant to the Zoning Regulations. For the purposes of this analysis only dwelling units that are short-term leased to guests are evaluated. The numbers mentioned below do not include single family or duplex units managed by rental companies. Condominium Hotel: A condominium hotel unit is a hybrid of a traditional hotel operation that has individually owned dwelling units and are commonly referred to as a "condo-hotel". A condo-hotel has all the amenities of a hotel and may include an active management and marketing program, registration and reservations, recreational amenities, and other guest services. Staff used the following criteria for defining acondo-hotel: • Marketing program • Short-term rental program • Recreational amenities • Conference/meeting room space • Guest registration and reservation systems Fractional Fee/Time Share: Fractional Fee/Timeshare properties in Vail are limited to 6 properties. The quality and operation of these 6 properties can be split into two categories. A. Newer Fractional Fee Product: There are two properties in Town that comply with the Town's Fractional Fee Definition. These properties have a demographic of serving guests with an average income of over $100,000 per year. B. Older Fractional Fee Product: The other 4 properties are older time share properties created before new state laws requiring capital reserves for maintenance and repair and the newest Town of Vail regulations related to fractional fee product. In evaluating the direct economic impact of time share and fractional fee ownership in the Town of Vail it should be noted that there is a significant disparity between the quality and economic value of these types of properties in Vail. 2 2.2 2.3 Existing Quantity of Development by Guest Lodging Types The existing amount of accommodation units, dwelling units used for short term leases, condominium hotels, and fractional fee units as recorded by the Town of Vail Sales Tax Department are summarized below: Guest Lodging Type # of Units Accommodation Units 1,588 Dwelling Units used for short-term rental 704 Condominium Hotel Units 491 Fractional Fee/Timeshare Units 312 Total 3, 095 It should be noted that the VVTCB has reported that there are 1,685 hotel rooms in Vail. The difference between the Finance Department's numbers above and the VVTCB numbers are accounted for how condominium hotels are defined. Proposed Quantity of Development by Lodaina Types in Vail Village and Lionshead The Community Development Department is currently reviewing an unprecedented number of development review applications for proposed projects in both Vail Village and Lionshead. These proposals may have a significant impact on the number of guest accommodations in Vail's commercial core areas and sales tax revenues. The following table is a summary of proposed guest lodging types. The guest lodging unit quantities will most likely change as the proposed projects are considered in the development review process. Unit Types Dwelling Units Condo- Hotel Fractional/ Time Share Hotet Total Core Site 79 60 21 160 West Da Lot 125 44 46 215 4-Seasons 20 20 119 159 Sonnenal 9 14 35 58 Tivoli 1 60 61 Front Door 13 2 15 Total # of Units 247 104 34 283 668 Source: Development application submitted to the Community Development Department, 2003 3. APPLICABLE TOWN CODE AND MASTER PLAN REFERENCES 3.1 Vail Land Use Plan The Vail Land Use Plan identifies several goals related to providing guest lodging: 3.1 The hotel bed base should be preserved and used more efficiently. 3.2 The Village and Lionshead areas are the best location for hotels to serve the future needs for the destination skiers. 3.3 Hotels are important to the continued success of the Town of Vail, therefore conversion to condominiums should be discouraged. 3.2 Lionshead Redevelopment Master Plan The 1998 Lionshead Master Plan focused on the need to generate a variety of "live beds." The plan evaluated new fractional fee product, hotel product, and condominiums in the marketplace. A specific goal identified on page 2-3 of the Plan is: "In order to enhance the vitality and viability of Vail, renewal and redevelopment in Lionshead must promote improved occupancy rates and the creation of additional bed base (`live beds" or "warm beds") through new lodging product. " The Plan specifically recommends the development of new hotels at the Vail Associates Core Site and West Day Lot. It is envisioned that these properties will include a mix of lodging types. In fact, on page 5-22 the Plan states that, "The Vail Associates core site has been identified as a priority location for a high end resort hotel. Although the hotel would be a private development, the Town of Vail should take all reasonable measures to encourage and facilitate this goal. " 3.3 Town of Vail Zoning Reaulations Title 12, Zoning Regulations, Vail Town Code has several key references to lodging types in the Town of Vail. The Zoning Regulations treat lodging units differently in Lionshead versus Vail Village. For example, fractional fee club units are not permitted in Vail Village (Commercial Core I zone district). There are also several sections of the Code that are unclear and need to be modified as it relates to fractional fee/timeshare product. Section 12-2-2: DEFINITIONS ACCOMMODATION UNIT: Any room or group of rooms without kitchen facilities designed for or adapted to occupancy by guests and accessible from common corridors, walks, or balconies without passing through another accommodation 4 unit or dwelling unit. FRACTIONAL FEE: A tenancy in common interest in improved real property, including condominiums, created or held by person, partnerships, corporations, or joint ventures or similar entities, wherein the tenants in common have formerly arranged by oral or written agreement or understanding, either recorded or unrecorded, allowing for the use and occupancy of the property by one or more cotenants to the exclusion of one or more cotenants during any period, whether annually reoccurring or not which is binding upon any assignee or future owner of a fractional fee interest or if such agreement continues to be in any way binding or effective upon any cotenant for the sale of any interest in the property. FRACTIONAL FEE CLUB: A fractional fee project in which each condominium unit, pursuant to recorded project documentation as approved by the town of Vail, has no fewer than six (6) and no more than twelve (12) owners per unit and whose use is established by a reservation system and is managed on site with a front desk operating twenty four (24) hours a day, seven (7) days a week providing reservation and registration capabilities. The project shall include, or be proximate to transportation, retail shops, eating and drinking establishments, and recreation facilities. FRACTIONAL FEE CLUB UNIT: A condominium unit in a fractional fee club described as such in the project documentation and not an accommodation unit within the fractional fee club. LODGE: A building or group of associated buildings designed for occupancy primarily as the temporary lodging place of individuals or families either in accommodation units or dwelling units, in which the gross residential floor area devoted to accommodation units or fractional fee club units, is equal to or greater than seventy percent (70%) of the total gross residential floor area on the site, and in which all such units are operated under a single management providing the occupants thereof customary hotel services and facilities. Notwithstanding the above for properties containing gross residential floor area equal to or less than eighty (80) square feet of gross residential floor area for each one hundred (100) square feet of buildable site area, such properties shall be defined as lodges, provided that gross residential floor area devoted to accommodation units or fractional fee club units exceed the gross residential floor area devoted to dwelling units. LODGE DWELLING UNIT: A small dwelling unit with limited kitchen and floor area and which contains six hundred fifty (650) square feet or less of floor area and is intended to be rented on a short term basis. TIMESHARE ESTATE: A timeshare estate shall be defined in accordance with Colorado Revised Statutes section 38-33-110. TIMESHARE LICENSE: A contractual right to exclusive occupancy of specified premises; provided, that the occupancy of the premises is divided into five (5) or more separate time periods extending over a term of more than two (2) years. The premises may consist of one parcel, unit or dwelling or any of several parcels, units or dwellings identified at the time the license is created to be identified later. No timeshare is a timeshare license if it meets the definition of interval estate, timeshare or time span estate. Section 12-7A: PUBLIC ACCOMMODATION ZONE DISTRICT The Public Accommodation Zone District has one permitted use which is Lodges that is defined above. In addition, Fractional Fee club is a conditional use in this Zone District. It should be noted that Lodges are permitted in other zone districts such as LMU 1, LMU 2, CC1, CC2, and High Density Multiple Family District. Section 12-7(H&I) Lionshead Mixed Use 1 and Lionshead Mixed Use 2 The Lionshead Mixed Use Zone Districts (1 & 2) incent the development of accommodation units, time share units, employee housing units, and fractional fee club units because they are considered "hot beds." Specifically, in section 12-7H (and I) -12 the code states, "For the purpose of calculating density, employee housing units, accommodation units, time share units, and fractional fee club units shall not be counted as dwelling units. Additionally, a "lodge dwelling unit ; as defined herein, shall be counted as twenty five percent (25%) of a dwelling unit for the purpose of calculating density." Permitted uses related to guest accommodations in this zone district on the second floor and above include: ^ Lodges and accommodation units. ^ Multiple-family residential dwelling units, time-share units, fractional fee clubs, lodge dwelling units, and employee housing units (Type 111 (EHU) as provided in Chapter 13 of this Title). Conditional uses related to guest accommodations in this zone district on the first or street level include: ^ Lodges and accommodation units ^ Multiple-family residential dwelling units, time-share units, fractional fee clubs, lodge dwelling units, and employee housing units (Type 111 (EHU) as provided in Chapter 13 of this Title). Although multiple family residential units are a permitted use in the Lionshead Mixed Use Zone District, the conversion of accommodation units to individually owned dwelling units is prohibited in section 13-7-7 which states: "There shall not be permitted any conversion of a lodge or accommodation unit within the town to a condominium, expect as provided for the provision of employee housing units." However, a developer who is proposing new development in Lionshead is not required to create a lodging product which is the case in the Public Accommodation Zone District. 12-16-7: CONDITIONAL USE PERMITS If a conditional use permit is required for a time share estate, fractional fee, fraction fee club, or time share license proposal, the code does require safeguards to ensure that there is an equivalency of accommodation units (if the proposal related to an existing building) and that and that each of the fractional fee club units will be available to short term rental in a managed program when not in use by club members. Specifically, section 12-16-7 states: 8. Time Share Estate, Fractional Fee, Fractional Fee Club, Or Time Share License Proposal: 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 are 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 gross residential floor area (GRFA) as fractional fee club unit gross residential floor area (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. c. The ability of the proposed project to create and maintain a high level of occupancy. d. Employee housing units maybe 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 required will be consistent with employee impacts that are expected as a result of the project. e. The applicant shall submit to the town a list of all owners of existing units within the project or building; and written statements from one hundred percent (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 was 7 signed by the owner more than sixty (60) days prior to the date of filing the application for a conditional use. f. Each of the fractional fee club units shall be made available for short term rental in a managed program when not in use by the club members. The project shall include or be proximate to transportation, retail shops, eating and drinking establishments, and recreation facilities. 3.4 Analysis of Existing Code Staff has several conclusions and concerns about the existing code which should be considered: A. Conversion of Accommodation Units in Lionshead To ensure that guest needs for lodging are accommodated, a healthy and diverse mix of lodging types should be allowed in the Town of Vail. The towns of Aspen and Steamboat Springs, along with other resort communities, have come to similar conclusions. The critical issue, however, is determining the desired mix of lodging types and how to optimize the use of lodging properties to achieve the maximum benefits for the community. Since multi-family units are a permitted use on the second floor and above in Lionshead, then accommodation units could potentially be converted in the future. In doing so, however, the applicant would have to demonstrate that the conversion is in compliance to the Lionshead Master Plan. Staff suggests that the Town Council looks at this conversion issue more closely and determine if additional safeguards should be created as ex'ssts in the Conditional Use Section of the Town Code. B. Definition of Fractional Fee Club The definition of Fractional Fee Club limits ownership to six (6) and no more than twelve (12) owners per unit. However, time share units as allowed in LMU1 and 2 and HDMF has no such limits. Resort communities such as Aspen and Steamboat Springs have recently updated their zoning codes as it relates to this issue so that they regulate the use (i.e. that the property has hotel amenities, rooms are available to short-term rentals) versus regulating ownership programs. Staff would recommend that we evaluate the Town's current regulations in light of this rapidly evolving market to determine if any changes are appropriate. On April 8, 2002, Town staff discussed with the PEC the need for a text change to the definition of a Fraction Fee Club. The Vail Town Code allows for time-share units and fractional fee clubs in the Lionshead Mixed Use 1 zone district. It does not address fractional fee. The definition of fractional fee and a fractional fee club are entirely different. Fractional fee, by definition, is a type of ownership of real .property. A fractional fee club is a type of land use. Fractional fee clubs are regulated as conditional uses in the various zone districts. Therefore, in order to operate a fractional fee club a property owner must first receive approval of a conditional use permit, subject to the applicable rules and regulations outlined in Title 12, Chapter 16, of the Vail Town Code. The Commission recommended amendments to the regulations to clarify the differences. C. Ownership of Accommodation Units The Zoning Regulations of the Town of Vail prohibit the individual ownership of accommodation units. To this end, the Vail Council adopted Ordinance No.2, Series of 1983, which regulates the conversion of existing accommodation units to dwellings units. Pursuant to Ordinance No. 2, Chapter 7, Condominiums and Condominium Conversions, Title 13, Subdivision Regulations, Vail Town Code was created. According to Section 13-7-1, Purpose, in part, the purpose of the condominiums and condominium conversion chapter of the Code is, "To ensure the rental pool of accommodation units is not depleted by the conversion of lodges and accommodation units to condominiums (i.e., dwellings units)." Over the years, the term condominium has been used interchangeably with the term dwelling unit when referencing a type of residential property in to the Town of Vail. This is best demonstrated by the following statement taken from the Subdivision Regulations, "There shall not be permitted any conversion of a lodge or accommodation unit within the town to a condominium, expect as provided for the provision of employee housing units." More correctly stated, a condominium is a form of property ownership and conveyance, and as such, applies to many different forms of real property and property uses. For example, commercial/retail tenant spaces within a commercial or mixed use development can be condominiumized for ownership and conveyance of property purposes. An example of this in the Town of Vail is the Gateway Building. Likewise, an offsite parking structure can be condominiumized to convey ownership and exclusive use of the individual parking spaces to the individual owners of the spaces. Most importantly, however, regardless of the ownership structure, the commercial/retail space and the offsite parking structure shall be required to be used by the owner(s) in accordance with the provisions and regulations established for the use by the zoning regulations. With this in mind, an accommodation unit (i.e. hotel room) could potentially be owned solely (i.e., by a corporation), or jointly (i.e., individuals within a partnership), provided its use is in compliance with the Town's regulations. Staff is neither supporting nor opposing the concept of individual ownership of condominiumized accommodations. Instead, staff is recommending that the Town Council considers and evaluates the advantages and disadvantages of the concepts to determine whether or not such an option has value to the Town of Vail. 4. ECONOMIC IMPACT OF DEVELOPMENT TYPES 4.1 Direct Economic Return The Town of Vail Finance Department compiled actual sales and lodging tax receipts from properties in the Town of Vail. The table below includes only the Town's 4% sales tax generation and the number of rooms reported to the Finance Department. The sales tax numbers below exclude dispersed single family and duplex units as reported by property management companies. Quantity of Units Sales Tax/Units Dwellin Units 733 $ 1,098 Interval Ownership 312 $ 273 Hotels 1,588 $ 1,390 Condo-Hotels 491 $ 1,801 Source: Town of Vail Finance Department, 2003 The sales tax generation numbers reflect a 4-year average of actual sales tax receipts to the Town of Vail. Condo-Hotels included properties that had front counter services, recreational amenities, marketing programs, and conference facilities. Over the 4-year reporting period, this type of property had the highest direct sales tax return. For this analysis 4 properties were identified as clearly having these characteristics. Interval ownership had the lowest direct sales tax return. However, it should be noted that there are 6 fractional fee/timeshare properties in Vail and the quality of these properties differs significantly. Ranges for direct sales tax receipts for the 4 guest lodging types included: Dwelling Units: $141- $2,181 sales tax/year/unit Interval ownership: $20- $826 sales tax/year/unit Hotels $358- $4,200 sales tax/year/unit Condo/Hotels $1,535- $2,390 sales tax/year/unit Hotels most likely would have had a higher yield per room if a major hotel had not gone through a major renovation and another property was fully utilized throughout the year. It should also be noted that hotels have a very wide range of sales tax yield. 4.2 Impact of Guest Spending There are 3 major assumptions that need to be made to determine how much a guest spends once they leave their lodging unit. These variables include: 10 A. Expenditure/person: RRC has calculated, based on customer intercept surveys that the daily taxable expenditures per person excluding lodging are: $65/day/person for dwelling and fractional fee/time share units $75/day/person for accommodation units and condo-hotels B. Number of people per room: Based again on customer surveys in Vail, RRC has estimated the average number of people per unit based on guest lodging type include: 3.2 people/unit for dwelling units available for short term rental 3.0 people/unit for fractional fee/time share units 2.4 people/unit for accommodation units 2.6 people/unit for condo-hotels C. Occupancy: Numbers were derived from by Hill and Company from a January 2003 Occupancy and Average Rate Study. An average Vail Valley hotel occupancy was approximately 59%. An average occupancy for condominiums was approximately 38%. Fractional occupancy in the literature is at approximately 72% (Lee, 2003). Condominium Hotels depending on their operation may have an occupancy approaching a hotel. However, to be conservative an average of the condominium and hotel occupancy was used which equals 48%. The following is a summary of sales tax generation for guest spending based on lodging type: Average Annual Occupancy Expenditure /person/day People/ unit Sales Tax/Guest Expenditures/unit Dwellin Units 38% $ 67.00 3.20 $ 1,188 IntervalOwnership 72% $ 67.00 3.00 $ 2,113 Hotels 59% $ 75.00 2.40 $ 1,551 Condo-Hotels 48% $ 75.00 2.60 $ 1,370 In this analysis fractional fee/interval ownership property, which has a higher occupancy rate, also had the highest sales tax generation (excluding sales tax from lodging) per unit. RRC was able to determine spending patterns based on actual Vail intercept surveys of guests utilizing all four guest lodging types. It should be noted that based on information available in the literature that fractional fee/time share occupancy may be cower than 72% if ownership is lower than 4. 11 4.3 Total Economic Impact by Guest Lodging Type When both direct sales tax and spending is added together the following is observed: Quantity of Units Sales Tax/Units Average Annual Occupanc Sales Tax/Guest Expenditures/ units Total Sales -Tax Generation per units t?wellin Units 733 $ 1,098 38% $ 1,188 $ 2,286 IntervalOwnershi 312 $ 273 72% $ 2,113 $ 2,386 Hotels 1,588 $ 1,390 59% $ 1,551 $ .2,941 Condo-Hotels 491 $ 1,801 48% $ 1,370 $ 3,171 Again staff believes that several hotel properties have not performed at historical averages based on renovations and proposed redevelopment. However, it is interesting to note that each type of product has a relative significant impact to the Town. Staff would conclude that the more guest amenities and the higher quality the product the better performing the property from a sales tax basis. Condo-Hotels if they provide the amenities of a hotel interestingly have the highest net return to the Town of Vail. However, it should be noted that in a condominium hotel, owners can not be forced to rent their unit unless the unit or interest in the unit become a regulated security. Managers of condominium hotels have found owners can be highly encouraged to rent properties if there is a significant management fee to pay for amenities on the property and there are limits on how an owner can personalize a unit (i.e. hanging personal art on the walls). Fractional Fee/time Share units became a valuable lodging type when the relatively high occupancy is factored into the model. Other resort communities such as Aspen, Whistler, Steamboat, and Copper Mountain have concluded that a diversity of lodging product is critical in supporting a successful resort. Also the types of specific fractional and dwelling unit types continue to evolve rapidly as the market changes in other resort communities. The economic evaluation above also demonstrates that each lodging type is valuable to the Town of Vail. Within each lodging category type there appears to be a significant range of revenue generation with the greatest range being with hotels. The critical factors that appears important in generating a high annual taxable yield includes: • Aggressive marketing program for the property • Management program that encourages putting property into a rental program. • Recreational amenities such as pools and spas • Food Service and other guest services • Overall quality of the property • Conference and meeting room space 12 5. MARKET TRENDS Attached are several pieces of information to highlight market trends for time share product. The first attachment is a powerpoint presentation from the Harvard Business School students on fractional product. Also attached is paper from the Hoffman Foundation. POLICY CONSIDERATIONS The primary purpose of this analysis is to report on the economic implications of various lodging types. The types of guest lodging are rapidly evolving in the market place particularly with fractional/time share product. Given that the above analysis of the Town Code and economic implications, Staff suggests that the Council consider the following questions: Should the Community Development Department review the zoning regulations to address new and evolving guest lodging types as was recently done in Aspen and Steamboat Springs? A trend in regulating guest accommodation is to focus on how the product will be used (i.e., rooms available for rental, amenities, meeting space) versus regulating ownership (i.e. 1/6 versus 1/52 ownership). Should the Community Development Department resolve the inconsistencies with how the Code defines timeshare, fractional fee, and fractional fee club? Are there other changes to Zoning Regulations or Town policy that. need to occur? Attachments: A. Presentation on Fractional Fee Ownership by John Lee and Daniel Bryan B. Paper on Fractionai Fee Product by the Hoffman Foundation 13 - ATTACHMENT A _ Vail Fractional Ownership Study May 13, 2003 Daniel Bryan John Lee Vail Fractional Ownership Study Executive Summary • New data suggests fractional ownership development meets Vail's objectives - Improved demographics of visitors - Increase utilization ("Hot beds") Improved housing stock • Less than 2 weeks per ownership period per year will result in worsening demographics • Limited/no impact on overall tax revenues to Vail • Property deterioration and damage to brand name do not seem to be issues for other towns exploring fractional ownership development - Effective governance structures can prevent these issues from arising • Various competitor towns have widely varying legislation • Vail will need to determine what specific legislation to enact - Land use and ownership-related issues Vail Fractional Ownership Study Current Situation Map of Vail Due to limited land in Vail (proper), it is extremely important the land that is available is used to its greafest potential, attracting the most visitors with the most favorable demographics as possible. s e , w a~ r r R x ji`~i ?~ ~Jf ~~ ggZ•'~i ~z ~~ ~`= r~~.VailVilla e~: 4';y~4' Lionshea~ ~ y' ~- " _ ,~ ..~ , . ax _ - ~~ ~ *s ~... .~..a ~~ ""_'~" "i,r r Q s.- ,~„ {'~ a~ ~...: «.. ~. s+<wxf oar .`~) Source: wvw.VaILrM O Vail Fractional Ownership Study Current Situation Vail Demographics We believe the town of Vail has been very successful targeting an affluent demographic group, which has even improved measurably over the past ten years. ~, __--- __ J Source' RRC Assagates, Vall VaAey Summer Visitor Researcft 2002 2 Vail Fractional Ownership Study Current Situation Vail Demographics However, Vail's attempts to affract younger demographics~(45 and under) have yielded mixed results. ao°~ 30% 25°k `'J Ij '~ K. 30 and Under 20% ~' ~ i' ~ ^ 31-45 a r 15% ~ l' ~~ ~ ~' O 46-55 10°h i ~; G ~, D 56 and Over I_ 5% E' 0%i ~_ ~-c i,, 1993 1996 1999 2002 Age Source: RRC Aucclales, VaY Vatley Summa! VsNOr Rexarc° 2002 Vail Fractional Ownership Study Current Situation Annual Skier Days The town has also been moderately successful attracting skiers to the town, roughly maintaining its skier base. ao°io - ,ry 30% - _ _ _ _ _ _ -- ,_ ~ __ - - - -Breckenridge ~ 20% - -Telluride o v 10% ~~_--..-,. _ -- _ -TOTAL-Colorado _.. c _ -, ~,-„--z -..~ --Vail , ~__ ~ H 0% ~ - ~ -- _ Steamboat Springs -10% ~ ~ ~ - ~ _ ` .._ -Aspen ` ~ `m -20% ~ _ -Snowmass Village 7 j~ U N ---Crested Butte 30% -40% 1994- 1995- 1996- 1997- 1998- 1999- 2000- 2001- 95 96 97 98 99 00 01 02 Source: Cobratlo Slri Country USA, 2002. MtpJlwwN.me°iaCObratlosM.coMpresarwm/aMknlsgs.c°n 3 Vail Fractional Ownership Study Current Situation Retail Sales Trend However, the town's retail sales growth of 150% since 1985, a rate of 5.8% per year, has significantly lagged that of competing Colorado ski towns. 400% _ _ _ ;; c ro 350% ~~ °' ' y 300% -Telluride t d B tt C c res e u e - ~ 250% ~ N ,= -' ---Breckenridge ~ rn 200% ~' .. ' - m --- _ Steamboat Springs - - .. _.. _. .. 150% ! , _ w t r_ __ -Aspen _ _ o ~ ~ -- . 4~„i '.:- ~ ~ ~,- _.--- -Vail ~ ~ 100% - -, -r. 0% "'. _` ~o e~ ~~' wo o° o'` oti o~ oa oh o~ o~ o0 0 ~9 ^oJ ~~ ^9 ^°~ ~9 .~°~ ^°~ ^g ^°~ ^~ ,~~ ~°~ ~0 - -Snowmass Village 0 0° o° rti0 rj0 Sous: GbraAo Rpenmenl of Local ~ in, hnp://dolsrnlmado.gov/cdielmunTasl.cfm Vail Fractional Ownership Study Current Situation Outside Perceptions of Vail Vail's market positioning has suffered in relation to competitor towns due to a number of factors. Ina 1996 survev of ski town lodging' conducted by RRC Associates, Vail ranked: • 9th out of 9 for value received for lodging expenditure • 8th out of 9 for room quality • 6th out of 9 for total lodging experience Ina 1998 Ski Magazine survev. Vail ranked: • 67th in lodging value Source: Vail Valley Chamber antl Tourism Bureau 8 SkI Magazine ' Survey inolutletl the fokowlrg ski towns: Beaver Creek, Blackcomb, Gopptt Mountain, Jackson Nole, Steamboat. Tellu°tle, entl Vail. Vail Fractional Ownership Study Key Issues Critical Questions Is Fractional Ownership development a viable option for the town of VailT Accordingly, how should Vail set Fractional Ownership policy? .. .... .. . ,, fr,. .. ... :. ~: r ~- ~. . ;, c; .,::. * sJ ~ c ..'x [~a • : .. ,., .,, e ,•~ ,~ ~ Source: VaN Webaite (hgp:/IVaN.arrow.ooMlwh.ga.eap) O Vail Fractional Ownership Study Key Issues Several factors impact Vail's Fractional Ownership legislation. Financial Factors • Economic Vitality -Occupancy -Demographics • Tax Revenues -Sales Tax - Lodging Taxes -Condo vs. Fractional ~~ A ~ Brand/Community/ •- ~ Valk Legislation Governance • Resident Opinion ~ ~-eglS~dtlOn V • Policy/legislation review • Vail Brand Name -Vail • Timeshare Governance -Aspen - Park City -Steamboat - State versus town O Vail Fractional Ownership Study Background Fractional Ownership Overview Definitions • Fractional Property, also known as Residence Clubs - 1/25th ownership or more, typically 11T^ to 1112th • Timeshare -Typically one week ownership/year Benefits to Develoaer • Ability to finance through pre-sales • Pricing appraisal typically 1.5 to 2.0 times > condos Benefits to Owner Characteristics • Typically guaranteed specific amount of high season time, remaining weeks available as float time • Clubhouse with extensive services • 3 Bedrooms most common (50-66%) • Work best in areas where whole- ownership is prohibitively expensive for most people • Emphasis on size, quality and structure, less price sensitive since fractional ownership • Less expensive than full ownership • More use of the property per dollar spent I • Easy Maintenance •Full-service accommodations Trends • Partnering with well-know resort operators • Points systems and transferability between properties • Expansion into four-bedroom homes Sowca: Mobson Femanni Associalea. 'InEUStry Overview of TM Lusury Froctbnel erW Private ReslEence Curbs; March 20°2 Vail Fractional Ownership Study Background High-End Fractional Properties Owners/ Name Units Location Unit Price per Week Austria Haus 18 Vail 9 $55,212 Christie Club 20 Steamboat Springs 7 $30,827 Deer Valley Club 30 Dear Valley 6.5 $24,992 Franz Klammer Lodge 34 Telluride 10 $33,827 Hyatt Mountain Lodge 36 Beaver Creek 20 $47,455 Snowmass Club 210 Snowmass 7 $46,981 Ritz-Carlton Club 73 Aspen 12 $58,846 Source: Hillier 8 Associates. 'Nallonal Hi°n-Entl Vacation Clubs ComOarabk Club Analysis; 2001. 6 Vail Fractional Ownership Study Financial Factors Financial Factors • Economic Vitality -Occupancy - Demographics • Tax Revenues - Sales Tax - Lodging Taxes - Condo vs. Fractional r ~ ~ Brand/Community/ Governance ~ , ~ Vall Legislation , ~_ • Resident Opinion ~ Legislation r • Policy/legislation review • Vail Brand Name -Vail • Timeshare Governance -Aspen - Park City -Steamboat - State versus town Vail Fractional Ownership Study Financial Factors Factors Influencing Economic Vitality of Vail Improved Higher Lodging Demographics Occupancy - - - -- .l I Town of Vail Increased Dollars Spent in Vail And Increased Sales and Property Tax Revenues O 7 Vail Fractional Ownership Study Financial Factors Why is Occupancy Important? The more people who visit Vail (as measured by occupancy), the more people available to purchase retail goods. 58.0% _ _ - _ _ _ -- _ --,, 14.0% 56.0% _ _ 12.0% t 10.0% ~ 54.0% o 8.0% ~j v 52.0% - 6.0% m c m ~ ~ 50.0% i `: - 4.0% N p 48.0% 2.0% y 0.0% ~ 46.0% II m ' -2.0% c 44.0% ! _ _ _ _ ~.0% a 42.0% I~ _ __ - - - -6.0% 1994 1995 1996 1997 1998 1999 2000 2001 Souces: Occupancy: H1118 Company,'Vail Valley: Lotlgirg ResearcMOecupancyond Average Dally Rale, January-DecemEer 2(107. R alatl Sales: DOlarada DeparlmeM o! Local Affairs, hltp7/dole.colorado.gov/cedialmunTaxt.chn Vail Fractional Ownership Study Financial Factors Average Occupancy Within Vail Occupancy rates are highest for fractional properties. 90.0% _ 80.0% _ - 70.0 T 60.0% ~``~`-"'^-'^-~.'--'' ~.__.~'`"-_........._-_----~-.....,~ v ~ 50.0% a v 40.0% v ~ 30.0% -Fr,_:_:±ional 20.0% ~ Hotels '~ 10.0% Condominiums 0.0% _ _ - _ 1994 1995 1996 1997 1998 1999 2000 2001 2002 Sources: Contlominlums aM Hotek: HIII 8 Company,'Vail Valley: Lodging ResearcMOCCUpancy and Average Deily Rate, January-DttemEer 2002' Fractional PropeM1ies: East West Padners. Dala only avallaWe In 2001 and 20°2 due to the recent wnslructlan of these propertiea. 8 Vail Fractional Ownership Study Financial Factors Occupancy of Fractional Properties Fractional owners of less than two weeks have the highest personal occupancy and the least time left unused. ° ®Left Unused a ~ 70% ~ -r- ~ - _ ~ ~ __ ~~- - ,~__ ^Giren Away ~ ~ 60% ~ 50% ~ j I _ '~ 1 ~ ^ Exchanged v 40% -i ' ~, I ~ ~ ^ Banked O 30°k I ~ _ ^ Rented 20% ~ ~ ~ i ®Used Personally w 10% - ~ ~ i ~ ~ i_ - ~ - o <2 2-3 4-5 6-9 10-13 Weeks Ownership (per year) Source: Ragatz Aasoclales, aasetl on a survey of /rsdbnal ownership property owners In Wealem Sb ReaM lama. Vaii Fractional Ownership Study Financial Factors Income Demographics of Fractional Owners However, fractional owners of less than 2 weeks have considerably lower income demographics Phan other ownership classes. t.a. a.a sso,oao I.a: a.asrooAOO I..a m.a s+sseoo f w~a -... ---... i'aro"„_ _... _. F ego. _ _.._ 2 non ~ ~. , _ . ma „ p,r s ~ ~ .. a ,a _. _ ~ a ,on.. _ ~ a ,oat _ ~ .. ~ ~ .z x.a - ra.,a w..n. owa.r mnlwer..n .z .-s ,o ,a w»n. owa...wefwrwn .z x.r . ,o.,z w..n. o.....nafa.r roan L.ss ears szwpo0 E ,aos ~~ _ _ _. _. ~ N~+r K gs, .. ~ . . . . z z o ,u " wesn. oearenp lw anal s.aa n.a sws.sso ~ ~:.. 'n mx .: w..n. a,M. mnlr•~r•+n ,a.,z Sourc<: Ragali Associates, basetl an a survey of fractional ownership property owners in Westmn SW Reaon tavns. 9 Vail Fractional Ownership Study Financial Factors Other Demographic I nformation Age c 100% ~ ~a ~ I ^ 85 Or Over O A 60% I ~ i i O 55 To 84 40% 5 T ~ ~ o 54 O4 ' ~ f a 20% p lAyder 35 <2 2-3 4-5 6.9 10-13 Weeks Ownership (per year) Occupation u 100%- r- ? i { ^ Student 60% o Y 80°~ ~ ~ ~ _ ®Retired ~ ~ a ~ i ^ Fbme lvbker ~-_ > 40% ~ i O Business Ow ner F 6 t~ 20% ~ I~~ p F'lofessbnal ° ~ ~ . ..... x °% - ~ SalesMlarke6ng <2 2-3 4-5 8-9 10-13 ® ~PPerMiddle A~jrrta. Weeks Ownership (per year) Source: Ragetz Assoclales, ° ase° on a survey of Iradlonal ownerchlp properly owners In Weslem SM Resod towns. Vail Fractional Ownership Study Financial Factors Fractional Purchase Criteria in Ski Resort Towns Owners of greater than 2 weeks per year consistently rate quality higher than owners of less than 2 weeks per year. d Quality N nl L G i ~ C 100% --°- .,....__---- ~ E 60% d ~ ^2-3 U > 40°h ~ ~ '' i o rn ~ p6-9 ~ 20% r r~ ^10-13 3 U Certainty of Quality Quality, Without O Quality Compared To Reference To Accommodations Other Options Of Similar Price Source: Ragatz Associates, Essetl on a survey of IraGional ownersltlp property owners in Western SM Resort lowris. 10 Vail Fractional Ownership Study Financial Factors Fractional Purchase Criteria in Ski Resort Towns Conversely, owners of less than 2 weeks appear less interested in location and more interested in exchange opportunities. Location L C V ~ a o 120°I0 d E 100% ~_ E Z, 80% o~ 40% ~ ~~ F ^ 2- 3 0 /o ~ ~ Location Exchange Exchange O6 - 9 03 Opportunities Opportunities ^ 10 - 13 WAh Other For Travel Resorts Related Services Source: Ragalz Assotlales, Magid on a auney of haclional awneraMp property owners In Weriern SMI Revert lowro. Vail Fractional Ownership Study Financial Factors Property Revenues Property taxes are approximately equal for condominium, fractional and hotel units: •Condominiums and Fractional Ownership Properties are viewed as residential properties, while hotels are viewed as commercial properties •Due to assessment complications caused by fractional sales, Fractional Properties are valued using condominium comparables for property tax purposes and the taxes due by individual owners are decided by the owners' association. •Following is an example illustrating the property tax calculations in Vail Assumed 2002 Mkt. Value Assessment Assessed Mil Property _Property Type otAvg. Unit Factor (1) Value • Levy (2) Tax Condo $300,000 9.15% $27,450 0.4717% $129 Fractional Ownership $300,000 9.15% $27,450 0.4717% $129 Hotel $90,000 29.00% $26,100 0.4717% $123 (I) As delerrttined by the Slate o(Colomdo, the 2(102 assessment factors were 9. 15 % for residential aM 29%for commercial properties (Z) Town of Vail mil levy in 2002. Souroe: Conversations wan the Eagle Count' Assessor's Ofrce antl tM Town of Vail Finance Olfice. 11 Vail Fractional Ownership Study Financial Factors Conclusions The financial factors of fractional ownership properties suggest favorable demographics, especially for owners of greater than 2 weeks, and neutral tax implications. • Economic Vitality -Occupancy rates are higher for fractional properties than condominiums or hotels. -Income demographics are desirable, especially for owners of > 2 weeks per year. -Purchasers of fractional properties > 2 weeks emphasize quality and location. •Tax Revenues -Increased sales tax due to higher occupancy and favorable demographics in fractional properties make up for lower lodging tax revenues. -There is little difference in property tax revenues between condominiums, fractional properties and hotels. Vail Fractional Ownership Study Financial Factors Brand/Community/ Governance • Resident Opinion • Vail Brand Name • Timeshare Governance Financial Factors • Economic Vitality -Occupancy - Demographics •Tax Revenues -Sales Tax - Lodging Taxes - Condo vs. Fractional ~ I - Vail r Legislation r Legislation • Policy/legislation review -Vail -Aspen -Park City - Steamboat -State versus town 12 Vail Fractional Ownership Study Brand/Community/Intangibles Fractional Ownership Effect on Vail Brand Vail is aware of the traditional reputation of timeshare development but also knows that the environment has changed. "Fractional Ownerships have a stigma of salesman in slick suits. However, that is changing over time." - Ludi Kurz, Mayor of Vail "Traditionally, developer gets fire-hosed with cash and the consumer is left with nothing." - George Ruther, Vail Chief Planner "People want to position the community [for] a very high-scale audience. Marriott, Hyatt, and East/West Partners have raised the profile and assure consistent quality/maintenance." -Frank Johnson, President of Vail Valley Chamber & Tourism Bureau Vail Fractional Ownership Study Brand/Community/Intangibles Aging Housing Stock Additionally, concerns exist that Fractional Ownership developments deteriorate more rapidly than other types of development. "There are plenty of questions within the community about what happens to an old fractional ownership development." - Russell Forest, Vail Director of Development "How do we separate the Christy Lodges from the Austria Hauses?" -Frank Johnson, President of Vail Valley Chamber & Tourism Bureau "Christy Lodge (in Avon) is what the community doesn't want." - George Ruther, Vail Chie/Planner 13 Vail Fractiona! Ownership Study Brand/Community/Intangibles Fractional Ownership Management Structure Effective Fractional Ownership governance should control for rapid building deterioration and therefore preserve Vail brand. i3~-L.a~Fs _- __ - - --- -.. _ .~... ~s.~ociation ., ........ l , Propcrt}' ~ Bu>ird of I ~1,uiahfmCUll~~irnt ~` `~.-__ I)irccLirs On-site L'ronerq- \ 1lana~rn~cnl -~~ Vail Fractional Ownership Study Brand/Community/Intangibles Management Definitions -- -- <,~ . ~ ~~, ;~:,~ ~~ , Board of Directors -Board formed of Fractional Ownership owners who have the power to make final decisions regarding the property (including management and bylaws). Property Management Firm -Employers of on-site property managers. The property often carries brand of property management firm (e.g., Hyatt, Marriott). Participation in multiple Fractional Ownerships across world can facilitate points/trade programs. On-Site Property Managers -Everyday managers who handle day-to-day operations for fractional developments. Answers to both Board of Directors and Property Management firm. ey-Laws -Operating agreement initially defined by developer. By-laws include arrangements for capital improvements and other oversight issues. Board of Directors can change the by-laws. 14 Vail Fractional Ownership Study Brand/Community/Intangibles Governance Incentives Conflicting incentives for various parties should keep the Fractional Ownership well maintained although risks do exist. • Can mandate annual capital reserve • Can also mandate annual maintenance periods r~-- --,....~ ii,.~~k, ~~,a,.,,,_~,.,,- h~ ~.._ ~~ --- - - --- -- - - a, - ~ ~~ ~~ ~ ~uw ~. ^~r~.m / _ __ • Incentive to maintain property • Large firms (Hyatt, Marriott) have / • Only "5°k of owners are active° incentive to maintain brand name + - ' •Can increase fees through o^ .~~. r,,,~" n~ r ~ • Most owners meet once a year rentals, if allowed +~=~u*~^•~~ to rubber stamp approval -___ __ - - • May not care about property as it • BOD is ultimate boss • Property mgmt. firm pays salary • Once units are sold, cost containment is main objective gels older • Can vote down reserve levels and other maintenance requirements Vail Fractional Ownership Study Brand/Community/Intangibles Conclusions • Effective governance can provide adequate control -Maintain premium Vail brand -Prevent property deterioration Outstanding • How does Vail prevent the property from rapidly deteriorating? Questions -How can it ensure that adequate reserves are maintained? - How does it ensure quality property management? • How does Vail ensure that only quality properties enter the town? Legislation • Create protection for the town through policy -View comparable legislation in competing towns O 15 Vail Fractional Ownership Study Legislation Financial Factors • Economic Vitality -Occupancy - Demographics • Tax Revenues -Sales Tax - Lodging Taxes -Condo vs. Fractional - ~ Brand/Community/ r- -A ~- C Vall ~ Legislation Governance • Resident Opinion 1 LeglSlatlOn V • policy/legislation review • Vail Brand Name -Vail • Timeshare Governance -Aspen - Park City -Steamboat - CO versus Vail Vail Fractional Ownership Study Legislation Overview A wide range of policy exists across comparable resod towns. ca`°ca Goy ~occ°' ~`~°~' oe~ca~ ~ aa~ ~e~5 Qo~G1 cP uv c;s o° ~c ac `oc °~ ~' c°` 5~ ~~ Qom O~ a~~y z° c`°c ~~~ ~o~~ ~ Q 'V°c ~¢c Qa~ 5~ c~a G°c '2`°F ~~ Q-°G ~J~ Q-~c Vail X X X X 612 Rentals manCalary X Aspen X X X X X X X '` e lay ma Park City V /~ V /~ Y /` ~ ~ ( „ Erchangas 3' 8 Clubs aNOwed Steamboat ~ ~/ /~ Springs Na a~~r a- tmna 16 Vail Fractional Ownership Study Legislation Categorization of Zoning Codes Each type of potential zoning code can be categorized as either a regulation on use of property or on ownership. Use Ownership Zoning Sales & Marketing Practices Density Homeowner Association Fees Parking Maintenance and Reserve Sales Office Zoning Number of Owners Conversion Rental Pool Policy Local Taxes Approval Process Recreational Facilities Vail Fractional Ownership Study Legislation Local/State Regulation Traditionally, management of uses are handled by local governments whereas state governments regulate rules of ownership. Local State • Vail Zoning Coda and - • Colorado Common ~' Design Requirements ` Ownership Interest Act i • Vail Communit • Divis on of Real Cevelopmert Oifca ~~~ Estate {Re81 Estate ~~~ Commission] Should Vail attempt to manage both uses AND ownership? Source' Conversation vAl~ Am Marlin, Baker antl Mosletler Vail Fractional Ownership Study Legislation Vail Regulation -Ownership There are costs and advantages of managing ownership policy of Fractional Ownership developments. Advantages • Can tailor requirements to fit Vail objectives • Ensure specific requirements for maintenance and reserve • Can provide signals to developers Disadvantages • High cost of enforcement and oversight • May act as a deterrent to Fractional Ownership development projects • While unlikely, policy can be challenged • Policy objectives can be managed via approval process Vail Fractional Ownership Study Legislation Vail Regulation -Land Use Vail needs to define which specifrc aspects of fractional development are critical for management on the local level. DRAFT Use Ownership Zoning High Density Med Parking Med Sales Office Zoning Low Conversion High Local Taxes High Approval Process High Recreational Facilities Med Sales & Marketing Practices Low Homeowner Association Fees High Maintenance and Reserve High Number of Owners High Rental Pool Policy Med 18 Vail Fractional Ownership Study Legislation Example -Steamboat Springs • Steamboat Springs has a market driven approach to community development -Zoning codes do not speak to Fractional Ownership management issues (reserves, maintenance, etc.) • Over past 7-8 years, market forces are moving towards high-end fractional product - Four projects have been built - 3 are higher end fractional developments -Only 1 was lower-end timeshare • Community has had little/no issues related to product deterioration with fractional developments - Suggest that much larger issues exist with second-home condo projects • Has not seen a significant difference in quality of property management between large and small owners source: Imervlew wren rm hxc.r, Town a se.mma salsa. (Alxil zoo3) Vail Fractional Ownership Study Legislation Example -Aspen • Aspen revised its code in early 2003 - Very high-regulation approach to community development - New code shifts from ownership regulation to land use code -They wanted their timeshares to resemble lodges • Town believes that fractional development will allow them to meet several objectives -Increase vitality - Method to upgrade older properties -Ease bank financing - Existence of exchange programs may drive new trials to Aspen • Does not allow periods longer than 1/6t^ ownership (e.g., longer than 2 months) -They would probably allow one-week timeshare if market dictated -Although concerned about "ownership in community" • Defined their policy in a working session within Planning commission - Made recommendation to City Council -Had fractional ownership attorneys review their code - Developers gave input into the drafting of the code itself • Results of new regulation and entrance of fractional ownership still unGear Source: Interview whh Joyce ONSen, Town of Aspen (Apil 2W3) 3 19 Vail Fractional Ownership Study Legislation Colorado Common Ownership Interest Act Policy manages common ownership, including timeshare/fractional, on the state level. • Establishes framework for the creation and operation of common interest communities • Defines rights and responsibilities of homeowner associations - Set up a budget and homeowners association • Requires fractional development sales and marketing professionals to register for state commission on sales • Regulated through the Division of Real Estate - Real Estate Commission has umbrella authority Sources: Lonverwtlon wke Jlm Martln. Baker antl Hostetler antl State of Coloratlo Lommon OvmersNp Interact AG Vail Fractional Ownership Study Legislation Vail, Colorado DetlnltlOtls FRACTIONAL FEE: A tenancy in common interest ... allowing for the use and occupanq of the property by one or more co-tenants to the exGusion of one or more wtenan[s during any period FRACTIONAL FEE CLUB; • Between 6-12 owners per unk • Use established by a reservation system • On site management wfth front desk opera0ng 2417 providing reservation and registration capabilities. FRACTION FEE CLUB UNIT: A condominium unit in a tractional tee club described as such in the projeG documentation antl not an accommodation unh within the iradional tee Gub. Fractional Owners hio: • 5 or more separate time pedods extending over a term of more than 2 years. zoning • CONDITIONAL USES - HDMF dis[rtd (125H-3) • BASEMENT/GARDEN LEVEL, FIRST FLOORISTREET LEVEL, SECOND FLOOR AND ABOVE (12-7H-2 thru 4) Density .DWELLING UNITS PER ACRE - ...lime share units, and tractional fee dub units shall not De counted as dwelling units. (12-7H-12) Parking • 0.4 space per accommodation unit, plus 0.1 space per each 100 square feet of gross, with a (12-10-10) maximum of 1.0 space per unit Rental Pool • Each of the frac0onal fee Gub units shall be made available for short term rental in a managed (t2-tg-~ program when not in use by the GuD members. Other • USE SPECIFIC CRITERIA AND STANDARDS -Policy on Fractional Fee Conversion (12-16-7 Sec. A6A} • Compliance General Prohibition: Cannot sell, lease or agree to sell or lease...time-share estate, tractional fee, or fime- (13-1-3) share license... within the Town until such subdivision has been approved in writing • Employee housing requirements Source: Va112oning Lode 20 Vail Fractional Ownership Study Legislation Park City, Utah Definitions Froafonal Ownership ESTATE: An ownership or leasehold estate in Property devoted to a Fractional Ownershlp fee, (15-15-1) inGuding without limitation, tenants in common, time span ownership, Interval ownership, and cooperative Fractional Ownership ownership Fractional Ownership INSTRUMENT: • 3 or more purchasers of the Fractional Ownership Intervals • Flxed or Ooating time schedule on a periodic basis oceurting annually over a padod of time • In excess of three (0) years in duration. Franional Ownership USE: Any contractual right of exGusive occupancy...inGuding, without Imitation, a vacation license, Gub membership, general partnership interest Rmtted partnershlp interest, vacation borM w beneficial interest in a trust... Zoning CONDITIONAL USES -Recreation Commercial (RC) dishiG (15-2.162) CONDITIONAL USES -General Commeraal (GC) district (15-2.16-2) Sales ONSITE SALES OFFICE - Regulations specifying definitions and zoning (15-15-1) (15-4 -11_p) OFF-0REMISES Froctlonal Ownership CONTACTING LOCATIONS - Spedfies conditions to issue a Conditional Use permit for an oft-premises FraGronel Ownership wmacting location Othe7 SUPPLEMENTAL REGULATION: (15-4 _1g) • Filing procedures for Fractional Ownership tlevelopers 8 Fractional Ownership conversion (15~ -11) -General parking requirements - Vacaldon Clubs permitted - Requirement to file if offering resale assistance or exchange services -Provisions for the maintenance and operation of the Fractional Ownership ProjeG and/or Fractional Ownership Units Source: Park City Zoniig Code Vail Fractional Ownership Study Legislation Aspen, Colorado (Page 1 of 2) DefinltiOns • Each untt in a timeshare lodge shah be subdivided into no less than seven (7) time span or interval estates (26.590.090) • May contain a kitchen and still be considered to be a lodge unit (not a residential dwelling and) Timeshare Mandatory Mandatory Operational Features Optional (confdl • On-stte front desk • Features taGlOate short-term rentals of units • Mixed-use development allowed ChafaCteflStlCS • SuffiGent reaeationaf fadlities • Can sell on and oft-season (26.590.060) Optional Operational Features • No unas on ground floor in CC zone estates as package -instead badrestawanUretail • Shorter timeshare ands preferred • May include provisions that • Can prevent ownership of spedfic un0 allow for exchange opportunities Zoning Lodge/Toudst Residential (L/iR) Commercal Lodge (CL) zone distriGs (28.590.020.8.1) Lodge Preservation (LP) Skl Area (SKI) Commercial Core (CC) Maintenance & • Provision for documentation and guarantees mat the timeshare lodge development will be managed and maintained Management -When and how maintenance will be provided Plan - A fair procedure for me estate owners to review and approve any tee increases (26.b90.070) -Demonstration of a reserve fund to enswe proper maintenance throughout its lifetime. Sales and • The solickation of prospective purchasers of timeshare ands on any street, mall, or omer public property or fatality; and Marketing -Any unethical sales and marketing practices which would tend to mislead potential purchasers Standards -Giving of gins to...ettend a sales presentation...is permitted, provided the gift reflects me local Aspen economy (26 590 070) -Any gift for which an accurate description a not given . . - Any gift package for which notice E not given to me prospective purchaser that the purchaser will be required b attend a sales presentation as a condition of receiving the gifts Source: Aspen Zoning Code (2003) 4 21 Vail Fractional Ownership Study Legislation Aspen, Colorado (Page 2 bf 2) Review Process t PUD Review Required 4. Growth Management Quota System Review (26.690.040) 2. Consolidated PUD Review 5. Authordy to Grant Variations 3. Subdivision Review Review • Fiscal Impact Analysis and Mdigation -required to show no negative impact on town $tandeldS 'Upgrading o(F~isting Pro/eds-AS exhibited in the new snow here (26.690.070 ) Application • Timeshare Use Plan-must include info on whether a purchaser is able to particpate in an exchange program, and if Contents sc, in which program(s) they will be eligible to participate. (26.590.050) • Summary o/ Disclosure Statement and Timeshare Instruments • Management Plan - If managed by a management Co., a branded company, or Omer entity, and describing operations • Marketing Plan -Plan including information on proposed sales techniques (including a description of gifts, premiums, or promotions to be oRered), sales packaging, and whemer a sales office will be established off-site. • Budget - Planned budget for me proposed homeownersrcondominium association estimating me proposed costs and expendAures for me management and maintenance of me timeshare development. • Upgrading Plan -For any existing project that is proposed to be converted to a timeshare lodge development, me applicant shaft subm0 a plan of how me project will be physically upgraded and modernized. • Tax Collodion - A statement irMicating me manner in whicn real estate transfer lazes end sales taxes will be collected. • Devebpe~s Registration. A copy of me developers registration vdm the Colorado Real Estate Commission Timeshare • Name/address/resume of management company • Exchange program details, if any Documents • Name/address/resume of marketing company • Desuiption of present wndition of conversion (26.690.090) • Detail of maintenance fees Othe! • Prohibition of Vacation Clubs (exchange programs are allowed) (26.590.010) • ARordade housing • Local Taxes Soure: Aspen 2oning CoEe (2003) Vail Fractional Ownership Study Legislation Steamboat Springs, Colorado DeFnition A form of property ownership under which a property is held try multiple owners, each wRh Ne right of possession for a (Article )OC) specked time interval. Zoning CONDITIONAL USES IN THE FOLLOWING ZONES: (Article IV) RR -Residential resort zone district G-t -Gondola one zone district G-2 -Gondola two zone distdct CO -Commerdal Old Town zone district CC -Community Commerdal zone district CS -Commerdal services lone distict Source: Steamboat Springs Zoning Code 22 Vail Fractional Ownership Study Legislation Discussion with James Martin, Esq. • May be possible to regulate low-cost/quality entrants through the enforcement of strict design standards and through the approval process - Developers are always motivated to work with the townlcommunity -Always an iterative process • Back in mid-1980's, Vail attempted to regulate the activities of Fractional Ownership developers -Regulation was eventually pushed up to the state level (COIA) • Fractional Ownerships may provide the appropriate density to keep towns active • Provide a method to finance the upgrading of older properties Sources: Iraerview wila Am Mahn, Baker and HoWNkr (ApN 1003 aM Joyu Oftken, Town M Aspen) Vail Fractional Ownership Study Legislation Conclusions • Vail should review policy on Fractional Ownership -Vail policy driven by governing philosophy (land use only vs. ownership) - State of Colorado manages ownership -There is a wide range of policies across competitive towns • Other towns appear to be cautiously optimistic about fractional development - Steamboat Springs has had no problems with fractional product -Aspen is positive but not yet certain of impact • Vail can use alternative methods aside from zoning code to control Fractional Ownership development - Design standards and approval process - Unclear policy may lead to more confusion from developers and more iterations with planning staff and city council 23 Vail Fractional Ownership Study Conclusions Recommendations/Next Steps Recommendations • Allow for fractional ownership up to 25 owners per year • Continue to manage market entrants through approval process and design standards • Ultimately, define new set of legislative standards for Vail's fractional ownership policies Next Steps • Monitor occupancy and demographic statistics for various property ownership types • Evaluate which fractional ownership governance regulations are important to Vail -Maintenance period, Reserve account, Homeowners Association • Schedule working sessions within Community Development Office to brainstorm and define recommendations for City Council • Monitor results of fractional development in competitor communities RU6.12.20033 2~34PM EAST WEST PARTNERS N0.474~ P.2i9 ATTACHMENT B ,_ 1. ']<'1~ R[G~^END ~'~ACTIO~TA'C. TNTEI~I~S']~' ~'ZA~tKET A Ilv'x'~topU~C'~ON 'l;he pt.{rpo~c a~'tlus fixa~ parx Q£ tYie report is to pmyide art ovetYiea of the high-end fractional ~t~eat m.arlrst in the tcsart real estate indtisiry. Z~clt~ded is a description of the concept ar~d so~a,e recent market treads a9 d~~t'mined by a'~iephn~ survBy conducted of the vast xaajo~ily of such projects wig currently active marketing and sales pt'o,gt'am9:' 7Jza second part of tb,e repot cpnce,~trates on ~ cwrerit business plan Soz'~uc~ee Sierz~a Resorc`~ Spa Basically, the fra,ctianal interest concept is de~e~1 as tl~e selling of re9a~ tea], estate in iS~tervalS o~ m,pxe ~bart one week (usually reFezzed to aS resort timeshg), bud 7JS11esS than whole ownership. Shares or °`ft'~ctions" range from a 1/26 (two ,w'eo~;s of 4'w~etship) to a 1/4 (tree months of ownership), Deeded. ownership in perpetuity ~a1ly is conveyed as with say form of ~a~tional teal estate. The fxecT~onal interest gonccpt has existed £or ~-,any years, Far e~ammple, individual fxicnds Qr re~,atvea cQllecii~vely hay a ~vaca~Qn home aid ,SZaaze inns use in accord with a pta- dece~ned sc}~od~ule, Av'e~ the,years, many devclepers have sold fractions of whole ownership, aid thereafter have provided inart~emgrtt services to the awne;a, which dismiss the hassles of pQZSOrial cats and o fken tedio~S arrarigarnertt scl~.edules. Ya die past rllpst of those ofFerings simply conaentta~ed oa the sale and, purchase of the real est~e prodnct itself Coro xcccntly~.a neyr fad oFfractional intara~t ovvX;ership has becc. introduced, with the diffexenp,a~g yati~bles hem a vuide overlay of servieeS aid benefits to t1~e consumer (xtoT r~lilcc a pxiYate coti{t1t1y club, bud now including overnight lodging and ownership in lvxuraous aecq~.vda~ior~e~, smaller size iraetions, anal higher prices. This chapter concentrates oa this new style of Fractional interest ownership, since it is the type be}ztg proposed for Tzuelc~e Siezra Resort & Spa_ RC~Cwrrulting--~rr~ene, OrePoh Z Tj~e,i~afmann,F'ceurdaxon Truc,~s'e S~e~ra,Rasorr & ~a, P9/9q AU~.1z.2003a z~34PM EAST WEST PARTNERS N0.474~ P.3i9 ' -~,, ' ~, '~'~e ~~c~p~a1 interest concept is a ~or~ o~vaca~i,on (ox "shaz'ed~~) owner~ip, S1a~areS ~ ~,.i (4z ~x~ti47os) off' owt~~ship art sold ip, ia~tca~ls o~ ruq~ tbau Q~e creek, a~ in reso~k ti,~ne~arin$~ ,Y; n but less ~a,a~ wlaol,e o~ership. xhe co~teept ~s oxisted for zgauy ye~rS, but has eapourtaed ;'~.. Sig~~ca~,~ c~arlges irs ilxe past t~,vo yr three years with t'he intro~.uct~on o~ SeYex~ proaGCts ~ ~ ,~ o~erir,~ s. srx~all ~c~,os~ (~-pically a Motu- to e~gJ~t tivorl~ par~age) at xtlati~-e~~ ugh pricas (typically ~ 1 Q0,000 to $~OO,D~O ar sort) and w~fih a wide Vat~aty a~ club-type services, ~ . Ir~i~.aliy, ~e rio~al iutez~est project was basic~Uy zestricted to dtividizlg v~eatiom ]~a~es i.~to . . 'la slimes and stl~g a shesed~~o~, o~real es~Cate, i.e., afi lovvsx Ia~ice$ and ~VVitkt fewer scrv~ces. '; ~~ Zt is ~e ~~ .' . '~y ~o~ oi; ~raGtioa~ i~lte~ces'~ that,will be sold at'~}uglcee SiezxaRe~ozt ~ Spa_ 1'~,s stp#on, Si~pl~- providts some geno~e eoa~zuents on t~1e fxactxax~l iRtexost concept, '~' '~~ ~ 'Wl~ tide i~o~,a,Ro~ applying to both the ne~v aid o~.d ~q~s. point o~eTShip of vacation homes by a group, o~'~iends, rel~tiveS or businoss ~2~y! as$ociates ~ o~isted far aS l°ng as ~e market for vaca~.QU homes itself Wye Wb~ole oWr~ea'ship q~ a vaca.1iaa }~o~e may be sewed. iay mau~- as T1~e optun1lm, oppo~unities ~o~ such ~~~~ individua.~ o ~ ~ wtrlt~ShXp are co~tintially decreasing, Costs o~'vacatioa hom~e5 are coz~aua~ty irloreas~,g and ere ot~t-pacing xq,oreases an discretionary income ~'or ~.be vasx zgaaq~,ry oi: United S'~a~[as households. $esides, fio ~,~,y pe~lple, regardless o~inco~e, ~z makes more sense to oyvn. r~. just the ~p~t o~'p.Tne x~ a Ya.catiom ho~te that r~~y ears use. ~-ey asks `a'VV1~- allow ~ u~jor ~' . ~„~ i~vest~ae~t to sit idle tnos't o~ ~e year qr, dopGUd on o~e~, tlt~re~iable ~uta1 pxogsa~s to ge~,erate Xz~cpme to pay Q~ a'~po-1teaVX ~Arkgagt°~? ~ ~'~` TYIUS ~0~ t D ~~~' J ~~ ~exship is a mQ~e rational appxo~cb, ~p Awning & vaca~ip~ l~oz~.e, ,<4s noted ~.i above, ~~is a~pprpaGh has inf°zmally occ~.Tred throughout ~e country fox decades. Foz~ txampl,c, ~; .~.: a revieyv o~p~sseasax's records x~ Desch~.tes Cauuty, O~rcgoz~, revealed that ovtr 400 pxopexp,~s ~~ Stuuxvez~ aye zecorded 71'~ ~11e ~au~,ps pf more than ode ~a~ily, v~~g over a,ao~,ex 7 00 b `', owned by buai~CS$A9. Su~jver is o~,e of ~e largest an,d, I~igS~est-qusli'ty resod oq. the tiVesi Coast. A, survey iu ~Tilto~ Tread ~sla~td, SOUth, CAZ'0 ~QUnd th.afi 0'VE;(' pj~C-he1~o~ all Ae~w ;; ~.w,. vacatidn 7~ames costing over ~ 100,000 sold 1D the past Few yeaTS wexe puzcliased in jaiut ;, ; ow.ne~sh}p. Such fi~.di~gs cap most ce1t2iuly be generalized to most z'esort co;~un~~os ,,, , ~~,:~ '~uoug'~,o~.T Lhe C7nited States, regazdless of quality and cod. Daap~re its zationali~y, infozzgal joint ownership by friends and xe~ativts .1 k~as many f drawbacks, F~eA~Ships oi~e~. are des~oyed ovex arguments aUaut responsibilities for ;~.~ RCI Co-~ulrGng ~ ~~g~ne, 17~~~vn 2 ~'ha .~'o,{mann ~p~+r+dvtton ~~ ;. 7}~rckee S~Rrra Rssorl & Spa, Op/~9 , AU6.12.20~3$ ,2~35PM EAST WEST PARTNERS N0.474~ P.4!9 rnainten~ce and upkeep, cor~fil~.cu of who gels to use how ~.uch 1im,Q and when, WliaT pens Xf one o~e~ mgveS or caugat afford to aQUtinue paymextt9~ osc. ~.ua, we now have ~ formal approach t0,jo~t oW~oxship called. fraetiausl interests. `his now approach institutionalized the concept by employes ~, pro~essignal rnana.~zat oompt~ny, by ~o~nalizing use and access rights, bux stiff, allowing flexibility and cboicc of w~r~ the ow~.ers occupy '~,eir vaca.~ou home, by making sure that fia~es and mortgage payments aze rmad,e by ail owneTS~ by allowing resales to occux in an orderly and nor~~ da'tsxuptivc uz~~, exc, In otl~.ex woxds, iC e~endS the xationali~ty o~joint ownership even fi~ez by ~o maa~- o~ ~e personal buxdeps how the owners aAd placing Thom in the bads o~ an oL,jective alldprofessioa~a~ management company. ~?cspite being azlother dorm of vacation ovyn~hip, the fractional interest ~cgpcept iS not resort tiznss~a~z~g, Isl timesheriz~' indivic~usi, vvoeJ~s arc Sold at arc average pace of $X Q,000. O~Iy about one-quarter of t~.s pace is actua~7,y allocated, to the vacation home ztself, with the Rest d~i~g ar~'py to gdrriinistr~.tive posts and Yno~e importantly, ruaritstirig co9~9, The price of a fractional interest as obviously hig~rer ~~ a ti~,teshare week, but much wore time is received (typically two Weeks to twee mQU~ versus o1~e Week). amore importantly, a much greater prapgrtion ofthe purchase price iS allocated to the product itself' since maXJ,cetxn~ costs are perl~apS one~th3rd of what thoy are for timesb.are. 'Phis in trim etihauces xes~le value ~.d iq,~rQSmaent potential o~the f~aclioua~ ~terest coz~ceFst since at as more of a tar~gxble ~~eal est~tie product tlaart art abstract vacation o~uvr~e~rshXp eo~cept. ~ key quest~lo~ Undorlying Tho iracti,onal interest industxy cAncerr-s 'what exactly a °t'fra,ctio~" is snd how it differs from, other reSOxt real estate, Let us txtere£oxo x~view sonic ciuQtations fZOm reC~pt litexa~tu'e e~ioring t1~o cAncept q~ faacbonal interests, 1 • "prA#,c~,pr~al Interests: ResorC T~du~y (}zosts Newcomer on the BXocIF," 2~me~sharzng haw .~e~orrer ~rfefs. ~act~onal, Shat'ed ovy~ersl~ip, inxc~ vat owi~exship and an assnxt~emt off' other namGa have bean, given to a product tit is eujoyiAg a g~wittLg popularity among devslop~s, mar~telcrs and letu~ors as we~1 as purcla,asc~s. GEne~iy, it earn be d.e~u~ed as ~e sale o~'vacatidn homes in fxaetioFw o~'t~~ that are less ~ whole owt~erSbip but more than the standard one, or t~wo~week inxervalS of lxmes~a~ir~g. l'axkicularl~+ popular ``irac~onS" of Cite are quartet' shares, or 12-v1'eek uateresCS, althot~.gli many ot3~e; factions iaave been marl~eied succeSSfully. Rol Gonru(t~ng - ,E~,q~ga, Otego~ 3 The Ho anrt F fm pur-~an ~}714~t Sierrq,RP.~D~t !~ SDQ~ 09/99 AUG. 12.2003' 2.~ 35PM ERST WEST PARTNERS ~NO,. 474 ~P. 5i9 ~. ~,, . '~~ ~growang iz~~xesfi in i'raatianals has been attrlb~.i:ed to ~e sluggish gecon~, ~ '~ dome Market and ~e ea~peuse q~'4y~oie o~ynars]~~. 't'he product is said to provide austAme~s vvi~, tl~e ola~orttm~ty tD eA,joy a level o#'I'I.~t1ry 'they could not 1~aYe ~,~~,~: a~o~ded Q,n they OwTl az~d eT14R$h 7Qexibili'ry '~0 a1lOW ~. Cp~-S'11n1C~ t0 `5cu~o~ ~°~ 4RS1g~." a vacaripn p1at~, a maa or selling pozs-t. , 2. F`l;~tio~als ~allan8 jAto ~aYox ii~'Y~a~.~ior~.-Name l~urcliase," Hou~ri~zg Scene, Loin , 9iohc~au, ~,i~e ur.~e:lharc ~.evelop~aeA~s, fxaction~.1-~a~~crest pzojncts are sold iza, weekly ... intervals. But whereas tesb,ares are basically a Baca#oa p~oduc~ ~~,etio~als arq . zuQ~e min to o~zung zeal estate, Tn fast, t~.e co~ce~t ~s grounded im ~e Idea that aoiuF ow,aersbip is as ald as xasoxts~~e~,selyes. ,,_~ ,Ei.ceording'to o~ae researcher, anywhere ~ro~ 20°/a to 4S% of al), vac~ti.on ho~:es ~. are purq~.ased ~ pa~aezships by mode that, oDe b1~~-ex, depending oa t~je resort, so "'. ~~c4iouals axe simply coz~foAni~ig to what's already l~a.~pening in ~e xn,ar~ct. ~.~;, ~owevez, since the tai code ~'a'Vors dwii.ess w~rho use ~e#x propez~ie.5 moze,~an ~~~; they rent ~~b ijcactioaals are being ~o1d i'or vse r¢ther than as sn iuvestmen~ And '' ..L ; 'tha.'C's ~ coacept that worl~,s particul~ly well a~ soasox~~ resorts ~hazc there are lo~,g n~, , periods o~ down ti~ae when rental tu~{,ts;go begging ~or'C~~.at~ts, ~~' .. '. r 3. "Fxac'~laz~als Take Ofd; Strq~,gest ~'ew Vend Today in ~t,esort Real. Eslate," R~sot~~ ..~ Revel ppnzenP, it's c.~e~ tl~e~',s a product gap ix~ ~e resort ~ea~ es~Ca2e rnarltet between y~-1~o~e ,,, . ~., uni.'ts axed tisnesliaring and that ~rac~aual i~texeSts are ~7.1i~ this niche. Eves. ~poxe . , i~ri~q~t, the aev~ market a~~ear5 tQ be bxopd 'and ~'aixly deep, . , . ,~, P. Agt~ally, the market ~oz ~ac~lon~.s is eomang abG1~t in ~o ways -- as a step up .;~h~ ~qm tlmesli~ing, ~ as a Su~bs~itute Apr seggnd,hAme gWAe~sh],p. Q~~ez shares aid Quo-~,~-d~s oloarly are for pao~~e ~adjtioaaaJ,y oriented to ~. '~~ 01~liXlg a 9000IJ,d,~1o~1C, Five or ten years ago t~ley wore pzos~iects ~'or'Whgle-unit ~,,.' ' ow~ersbip ^ pe~,od, Bur now a ~ua~trs Share pFgvides '~he~74 With atsaple personal uso, so~1,G ze~.tal, sbeltor and o~j.er i.~,vesfimcnt gpporCUpities, all at ~ Feasonablc ;, . carryiu„ cost -the same set a~ considerations that motavaXe the p~ a o~ ~ whple . Wit. SA~~cx 1tiSergst~ do~ya, to around a xnonfh, or ~n Xr~texval so~eWhat longer Chan. the '~S'Fic~ oz~e- or 1W4-vveq~ purchase, pxoba~ly axe best s4en as an, axtensi.an o~ ~~.,~ Fi~es~.,g (~~~Qag$ nAtlvrig Says you have Fo calf. it that, fA.s ip timeshazing, we're t~iug Jlere abou'k ~- pexsoa~al~uss product, buF o~ye ~,ax can provide gxeat~ ~„ ~e~ibxlaty and ,access t$an ~e couveu~.oaal ol~e or two weeps, at a lower eosT per ~~-~ 'S~reel~. ~,,,, ,t~or„),g The ~e fraatio~l resar~sr dew Sell fixed weeks. Zr~s~ead, tlae most poznu~on a$ra~,~8m~nt is ~oz an, ow~C~''s weeiCS 'to rotate om a sebeduled basis. Ap1p~.g ~ASe 5el]1ug largez : 1~C,~ Cvnsr~~fttr~g, ~grno, Orc~on ~} ~ Tha Hof,»artn ,~'ar~-edatfv~ ,. Tixa,~ee .$'t~a Reaort ~ Spa, D9/y9 ,M„ ~RUG.12.20033 , 2; 36PM ERST WEST PARTNERS IN0.474~ IP.6i9 q]k9 a~t is cQmnl,ga ~ h$,ve two~week Use periods So that owi1~5 can takc longer vacations. 'Where smaller fract7o~S are Sold (eighths qnd s~a~lex), use pe~,ods ero ~orAaally ono weB1~ long. ,A.rri.Ong q'gartCr sh~C prof acts ~t ~.9 CO~LQII to b,~.ve Six '{w0-week pexlodS that rotate tluoughoufi the ~'e8T (~,z "WeCl~s total), 3pmetimes thcxe ~5 a 13TH ^WCek that rOtatCB in tie 1?~~ SCason. l~iany cutresit dovelopers end marketers of fra~iopal p~oaec~s also are ael~g t~teshares and/or whole-unit co~doaLiaiums, i~'aot in the sa~,e pxojeat, fhon gerta~.y vVitbin, ~ same company, same timeshare resorts bav®purposely instituted fra,ctionals as a~ upgrade product fox their t~Sl~are ow~,erS. Qtbers are sag &actipnals as a fallback due too slow sales of wholB units ol• as a .less e~cpeASive option fox thoso who catuiot a~'ord a whole unit. A,s indicated is the preceding 1'iudings, timeshares and fractioaa~ im$ereS~ occupy diffoXent sl7c.~~,es in the vaeatiom ownership rAarr lCet. Pracuoual, interest purchasers are geJnoxally mote af~11~e~'~ gldex, better educated, more luxuryyoxieat~d gxaup than arG timeshare purchasers, They~fi~d to purchase based pritmarily on the~gUality of the unfit itself rather than e~charige Or ~&v~ng moAey, bocausn Choy wi11 be using their ovVn u~t more often tbaa a typical timeshare q~ex. Rather than being scared off by the concept, as are timeshare owrxez~S, the 'biggest aouGam of fractional awneTS is whether they will use tl~e unit enqugh to justify ~e pixrohase. Furtliennose, these differences hold more true the larger ~e fraction: purchasers of 1/12-shares axe ttot very dassimilaz from timeshare gwrlers, w]~ile buyers of U4-shares are least ldce 1i~,e~hq~e ow~crs, ~ gfiher words, ~cactior~s reprcSent a rr~arlrat miehe between timesharing a~,d whole owwxaarsl~ip, Based qT~ a reaez~t survey we conducted of a few projects and, otter ~~p~t'seuces with ~S psgduct, thcu~e are a number of ger~err$li2atio~s that can be made, S. dew fractip~l intert~t projects have obtained. anywhere uesx tb,e sales levels annoyed by sp~te'~peshare rosorts. Projects in, areas o~especially bs~ properly d®mand ox with ~at~merous available marketing che~ne~ sre ~t The top eAd o~'this range ox slightly a'6ove it, Those ire morn isoaated. lt~catio~s, or competing wi~tb, oChGr products at the same resort, tend to be toward the bottom, end Qf this range. RC1 Cp11~(riag--Eugene. ~r~+on 5 ~'!~. Hofmann Fa~ydarlon Tpuckee SferrA ~esor~ & SP4i 09199 2,~36PM EAST WEST PARTNERS N0.474~ P.7i9 , 2~. ~ve~, thpll~~t SA~CS.'VO~LTmRS ,ale ~,odo~t, xX1oSt teSgr~s apiacar to be pzgfitabXe. ~, • v*c ~~ ; velq~ezS teu~.'to pzaa,se The product ancl, Where viable, go on To build additional. ;; ~u duct. ~ ,, ~' ~ ~ 'l~,e prpd~ctS hate potenfia~. appeal to a Fairly bzoad marl~et Mahe, because ,~ • ~. about ~y seco~,d Jzpuae desi~a ~; be pa~~.~ad at~d, iu tha ptocesS, ~,a~e amore ti;~ ~~dabl~, ~4weve~, actpal appeal is to tie xo~ati~'eJ,y nerxol~r ~i,G~c o~'b~.yers Who want re ~a.n a vx~.es~~re rvee~, Want to return, to the same ~Q4afiion ~eve~all~mcs per year, ~ ~~ do not have a strong pzgjudiae in favor o~whole-ownezship. ~` a . 4. The pzoduei's tend to be anost succes~~ul in regional resaTt azeas, ~vi~ara the ,; , .,. ;cal use patted is zepeated Wee~e~.d, ~sits,aud perb.sps qne iQn,ger prizRe-Season alio~. eacT~ yeax. ~he~- have beq~, r~a~l~ted Success~i~.1~Y in a few destinatioA axeas, ,;.,, "`' ably tea 1Zoc~ies a~1d S~'ilton Head_ ~owevex, im thesa areas, a s,~sse ~s ~ea~1y "not ~. :.~~" =sk~~e°' and ~,oze a~~o1~~,able 'than. ~arhQle?ow~.ersl~,~- ~ destine2ioz~ 1oa~,~o~s, abi],i~ty N :nt pllt'the unit iucrc9ses in uz~poztat~ce, bee~.uso it does not m~.Tch personal vs~ge ~' erns pareiculazly well. `~ ~,• ~ti . f r S..lv,~o~~t frac~io~,al izttFxest p£ffexings tq date have bed one-cl-uatter o~ o~,e-fish 7~^_V 'as ("large ~aa~iQns'7. T~owever, 't~,cre knave been, a~e~gs all across ~c size ~ ~P ~" ' -t~'~zl- MOTs ~eGently, ~i,e~e ~.ppears xo be incz~eased Teco~~jou that 1/26 oz x/12 ~~; ~a11 i~.ctions°~ be'~Cax' ~-peC fhC needs of ~,ost coI~SLlalers. Fc'w ~.p~cr-middle iacozne ,ti .` ~ ~61~Olti$ C~S1, gGt e'WSy mQr@ fihaa OTJC OT tWo WCe,Ifi,S, plus thrCC f0 fiYC tiVCQ~~CUdS, ]~. ; ;; ~av~ yew'. ~. ~1tho~gli vaziaus unit sizes have beef, sold, ~e sxandard is a two- o~ thzee- pona. uu1z. Of thee, tt~e ~eq,-bedroom lua.i.2 anr.~'easi~,gly is pmvv~g doze popular a.5 ~ek~Qlda effect .ore ~4om, Yacatiom With friends aqd ~ei~.~ves, etc, ~ Same r ~ons~ 1oe1~-off anhance use flexsbilily. ~.~ -~~ene~ Oregon 6 The ~'o~mann Fawsdatian ~; ~~ ~ruc,frPe SFerrp ~t¢so~E ~ Spa, 09/99 ~~~ I ~:~ ~A ~G,. 12•.20033 i Z, 3T PM EAST WEST PARTNERS INO~ 4~ 4~ IP: 8~ 9 7, ~ctior~al ~ntez~sis have beam sold ul single fam~y homes. however, asosX of~'eraag~s are low-deasity, low-rise condomiuit~m tau~.~s, SuFcessful projects have ranged from rclative~y F`plein rene" So out~.geously clcluxe, bx~tthoae towards the upper end of the c~ual~l~y sp~c~ appear to be nnpsfi successful. This appa;emtly iS because sal®s p~ospect$ ale so captivatefi by fiadimg au affordable example of'the vacation horns they always dreamed of awning that xheir objeatiQns to sharsd ownership are ove~co~ne. ~ upscale product appeals both to itttelleet ("why 'buy rn,o~e than you cars uso'~ and emotion ("t$is is averytl~ug you Gould. desire iu a seeoud Norge°~). 8. dales and markefiu~ expenses as apercentaga of sales vary widely, as in any resoT~ ~~'Oduat, Tktay'~~ad to be a smal~ear parc~tage of the vsho~e in more expensive projaGts,largely because the cost Qf generating a sales lead. is fai,r~y eolastan~k ragazdiess of Sales price. Sorr~etimes it ~a dif'fieult to assign a ~a~,o to 'hhe pxodq,ct, because i'k xs pan o~'?h~ same marltcting aRd salsa opera-lion as other products, such as tiznesl~Gs, hoincs~tcs, p~ corr~pleted homes. •A.Iso, much depends o~ fihc budget provided fox sales and rx~l~~g, the terius of the contract, ar~d o~,ex f~etors. MQSL xeu,d to experience safes and txsarlCeting e~penSes in the l~i.gh leaps or low 1,wertties, 9. ~ractional• i~tereste (especially the newer ones) typically inclpde apaelcage of azn®rsity be~aefiTs, vl~hieh are impotent to uaakiug the sale, Ta'sua11Y gol~• is a pelt of she package, 'q~aically available, for free (ply~s cast rental fees) only wl~a~ tho ov~Gxs or gize$ts ate ~, residence, AmeAiTy access, inclvdirig golf, is suppoztied 4lupugh r~~.ntanauca fees. Ivlapy projects liavo been sucecssfitlly raarlCeted in gol£settusgs. 10, S~xue ft~ct~onal i~,terest resorts are a~liatecl vy~th the e~,cbange netwoxlcs f~~sprt Couc~o~p,i~iulns Iratarnafional or Inte~yal ~tematlona1,), offers are not, ibis is p~~arlly a matter of market posi~onin~. ~Xclusivi'Gy suggascs no aflliation, to ~usuCe co~npa~ibilXly among guests. Less exclusivity au$$osts au e~:Ghatlge a~lis~io~ w promote travel to orltear arms. •RC,(Co-~su~~g - ~u~Rne~ Ora~o~ 7 The ,~vfrimrn Fou-ldactA-c • TtgrFkee SIe-rR,R~sare & Spa, D,9~9Q AU~.1z.20033 2~37PM EAST WEST PARTNERS N0.474 P.9i9 tt4u~r~ cuu Il~u~rtlll IyU~Ui111 ~'i ~ ~~r ~ ~ , 'J,~e Tnost Wides~aread access a~ange~en't zS weeks eve~.y spaced r :; rl~augi~out tic year, and rotapr~g t~rou~h the caleudax from year to yesx. ,~,~t des nation rte. zespzts ~; woeks te~,d to be ~, pains, a~ least ixt the p~i.,~e $easom. Paired weelCS also ere ~~:~~~ ire co~o~, ia~ dest~atiaA reSOrts. Reg~ona1 t'esoX~S tea~d to go with sit~,glie weep . ir~czcraeuts. ~h.exe s]~ould be at 1~ast a weep a; tvve set aside each yeas for upit ~ . xc~b~sa~.1:. ,~,., l2, Whether or poi to allow rent~.s is ~azzorhex issue. ll~ost buyexs, pa~aeulzrly ~~ of s~al]er ~actio,p.S, do nod ~d'tbis a him pripxi~y ~uFh dep~ds on how the unit is . sold. ~u d.sstlmatioa areas, ability ~ko zept ou'~ a loge ~ra.ata,ou caz~ 1~e o><i.~ica1, hAwevex. ; ~~ ~, '~~ . ~3. ~ractiotas do zlot scene 6o de'a~Ct,fi;QZU'khe Sale oi; othrrz pzoduc~s at the same °:~~ xeso~t, ~ fact, they tend to euh~tee'~e~. x~sald alongside #~7aoShareS, nc~y ~repres~.t r~ an upgrade prgduat, o~'ieai~g les9 pTO~t per vveoiC i~. percentage ~erztts, but mo;e gross `~ ~` ,~ profit Per saa,e. wpm sold along with ho~esites, the price and ~zofit m~rg~n are often `~" ~,u~te co~.p~able iu tlu case a~larger shares, and provide a~, alternative ~'or a customer r w~10 'waits a Completed unit Veep sold alongside ho~e9ites or wboZe~owaers~ip u~ts, ' the pxgducts appeal to ~,ose tivho Sim ly dp nat want ~a a Pose pf whole-o P ''~~~' P ~'p ~erslai or ;cat"~ 1 developing a haznesite, or who do ~pX have ~e avai,~.b1e nape t9 e~joq'C'han. Also, they ~~ o~rrp xe z~esent ~ viable u de a to who a-o ~'~~ l? ,per l? th ~ wu~sl~,p, wi.'fh ~aRY resprts o~er;~n.g . , rho abilit~'~o "trade indP a share an a wb,ole-owuazs~a purchase wi~j, ~, ~ccater puce. 1`~ ~e~haps tuQSt importau~iy, Whole-ownership projects ~"ind fat a1~r~s iralprove ~,eu :~'~'I ~~' zuarltcc~og G,'~iC1PxlC1~,~, PzO~n,ditt$ 50lile,~ t0 SGII fhe more ~IICG-semsztive buyers ox zhase who si~tply do not wamt to taclcie Whole~otivra,er~p. . ,,. 14• Where sel~.~ stay shares-owz~exslup ktroduG~ it ~s essential, to iacludc resale •~ .: suppar~. Ocnsuz~ets recogpi.~c the la.clc Q~azz established xesale ~arl~et for 'these ;;. '. ~ra~,ucts, sa rlaey hesitate to bt~y if them is zoo obvious mesas to zesell. This is even ;~ uaora impo~t3nt For these pzoducts t.~au for timeshares because of the gzoater e~ui~ 1~ed up zA the tuv,~ Resale su ork in the earl '~ pP y years W71 snhanca sales. A~ite~r a'bpux sever. to 10 years, as more ov,~e~rs zaaturally begin to wa~,t to sell, xcSalos probably will begj~ RCJCarr;u(ttx~g~,~~g~ye, Orgg~~ $ °_r 27~~ Haf~npr~n .Foun~attors Trus:lu~ S~4rra.Resort & Spa, p9(99 '~°, ~~, .. „ r r DESIGN REVIEW BOARD AGENDA Wednesday, August 6, 2003 3:00 P.M. PUBLIC MEETING PUBLIC WELCOME PROJECT ORIENTATION /LUNCH -Community Development Department Roofing Materials Discussion -Maintain existing regulation per DRB MEMBERS PRESENT Margaret Rogers David Viele Hans Woldrich Bill Pierce SITE VISITS 1. Pattison Residence - 5126 Black Gore Drive 2. King Residence - 272 West Meadow drive 3. Pratt Residence - 38276 Lupine Drive 4. Parks Residence - 4246 Columbine Drive 5. Treihaft Residence - 4594 Meadow Drive 6. Sevilla Residence - 68 East Meadow Drive 6. Vail Village Inn -100 E. Meadow Drive 7. Byers Residence - 4562 Streamside Circle East 8. Vail East Condos - 4132 Spruce Way 9. Hill Residence - 321 Bridge Street 11:00 am 2:00 pm Driver: George PUBLIC HEARING -TOWN COUNCIL CHAMBERS 3:00 pm Hill Building Reroof DRB03-0287 George Final review of a proposed rubber membrane roof 321 Bridge Street/Lot A, Block 5C, Vail Village 1St Applicant: Blanche Hill, represented by Rusty Wood MOTION: Viele SECOND:Rogers VOTE: 4-0 Denied 2. Sevilla Residence DRB03-0295 Allison Final review of proposed addition 68 East Meadow Drive /Lot O, Block 5D, Vail Village 1St Filing Applicant: Jorge and Elvira Sevilla, represented by Fritzlen Pierce Architects MOTION: Rogers SECOND:Viele VOTE: 3-0-1 (Pierce recused) Approved with the following condition: 1 TOWN OF VAIL '~ MEMBERS ABSENT Clark Brittain t 1. That prior to the issuance of a building permit, the applicant shall submit a master plan for "250 additions" and deck enclosures for review and approval by the Design Review Board. 3. Pattison residence DRB03-0261 Allison Final review of proposed tree removal 5126 Black Gore Drive/Lot 2, Block 1, Gore Creek Subdivision Applicant: Pete and Carol Pattison MOTION: Rogers SECOND:Viele VOTE: 4-0 Approved with the following condition: 1. That the applicant shall submit a revised landscape plan prior to issuance of a TCO for review and approval by the staff which indicates that none of the existing vegetation is to be removed and provides revised location for additional trees which will not impact existing vegetation. 4. Gerstenberger residence DRB03-0210 Allison Final review of proposed exterior alterations 1320 Greenhill Court/Lot 16, Glen Lyon Subdivision Applicant: Allen Gerstenberger MOTION:Viele SECOND:Rogers VOTE: 4-0 Approved with the following condition: 1. That prior to issuance of a building permit, the applicant shall revise the plans to modify the stone material and submit the revised stone material for review and approval by staff. 5. Parks residence DRB 03-0268 Warren Final review of proposed single-family residence 4246 Columbine Drive/Lot 20-5, Bighorn Resubdivision Lot 20 Applicant: Tim Parks, represented by Gerry Miramonti MOTION:Rogers SECOND:Viele VOTE:4-0 Approved with the following condition: 1. That the applicant shall meet all Public Works standards at the time of submittal for a building permit. 6. Vail Village Inn DRB03-0190 Matt Final review of proposed repaint 100 E. Meadow Drive, Lot 0, Block 5D Applicant: Village Inn Plaza Phase V Condo Assoc MOTION:Rogers SECOND:Woldrich VOTE: 3-1 Viele Denied 7. Pratt residence DRB03-0264 Warren Final review of proposed addition 3827-B Lupine Drive/Lot 2B, Bighorn 2~d Addition Applicant: Henry Pratt 2 MOTION:Woldrich SECOND:Rogers VOTE: 4-0 Approved with the following condition: 1. That the applicant shall replace all trees removed as a result of this addition on afoot-for-foot basis which can be located anywhere on the site with a plan to be submitted at the time of submittal for building permits. 8. .West Vaillodge DRB03-0152 Matt/Allison Final review of proposed exterior alterations 2211 N. Frontage Rd./Lot 1, Vail Das Schone 3~d Filing Applicant: Raj Bhakta MOTION:Viele SECOND:Rogers VOTE:4-0 Consent approved for addition of stone and repaint only 9. Treihaft residence DRB03-0283 Elisabeth Conceptual review of proposed addition 4594 Meadow Drive, Unit 4A/Sunwood at Vail Condominiums Applicant: Marc and Marie Treihaft MOTION: Viele SECOND: VOTE: 4-0 Consent approved on the condition that no other units construct additions prior to submitting a design review application and receiving a building permit 10. Village Center DRB03-0299 Matt Final review of change to approved plans 124 Willow Bridge Road /Lots C&K, 5E, Vail Village Filing 1 Applicant: KH Webb Architects MOTION: Rogers SECOND: Woldrich VOTE: 3-0-0 Viele Consent Approved 11. Cocchiarella residence DRB03-0267 Final review of change to approved plans 5198 Gore Circle/Lot 8, Block 3, Bighorn 5th Addition Applicant: Kate & Carl Cocchiarella MOTION: Viele SECOND: Rogers VOTE: 4-0 Consent Approved 12. Byers residence DRB03-0284 Final review of proposed re-roof 4562 Streamside Circle East/Lot 17, Bighorn 4th Addition Applicant: Holly Ann Byers MOTION:Rogers SECOND:Viele Tabled to August 20, 2003 13. Vail East Lodging DRB03-0225 Final review of proposed re-roof 4090 East Spruce Way/Bldg. 5, Vail East Lodging Applicant: Tom Ice/Red Eagle Roofing Matt Elisabeth VOTE: 3-0-0 Woldrich Elisabeth MOTION:Viele SECOND:Rogers VOTE:4-0 Approved per sample submitted 14. Vail East Condos DRB03-0169 Matt Final review of proposed excavation and nine-car garage addition 4132 Spruce Way/Lot A, Bighorn Subdivision 3rd Addition Applicant: Vail East Condo Association MOTION:Viele SECOND:Rogers VOTE:4-0 Tabled to August 20, 2003 15. Nail's Front Door DRB03-0012 George Conceptual review of the proposed Vista Bahn Ski Yard and Vail Park Improvements 360 Hansen Ranch Road/Lots P3 & J, Block 5A, Vail Village 1St and Lots 1 & 2, Mill Creek Subdivision/Unplatted Applicant: Vail Resorts Development Company, represented by Jay Peterson MOTION: SECOND: VOTE: Conceptual review - no vote 16. Pal residence DRB03-0098 Final review of proposed new entry 254 Beaver Dam Road /Lot 23, Block 7, Vail Village 1St Applicant: Joe Pal, represented by Steven Riden Architect MOTION:Rogers SECOND:Viele Tabled to August 20, 2003 Staff Approvals Vail Golf Course Townhomes DRB03-0269 Replace siding to match existing 1630 Vail Valley Drive/Lot 1, Sunburst Filing 3 Applicant: Prima Associates, Dba Crossroads Realty Stone Residence DRB03-0279 Deck addition 2600 Kinninckinnick /Meadow Creek Condominiums Applicant: Robert Stone Cheney Residence DRB03-0272 Reroof, same for same 2754 Basingdale Blvd./Nail Intermountain Dev S Applicant: Plath Construction/Duncan Rowley Hoversten Residence DRB03-0263 Entry addition, replacement of garage doors, minor alterations 1183 Cabin Circle /Lot 1, Block 1, Vail Valley 1St Filing Applicant: Alison Hoversten, represented by Snowdon and Hopkins Henrich Residence DRB03-0271 Interior Conversion and window well addition 5040 Main Gore Place /Sundial Condominiums VOTE: 4-0 Matt Bill Allison Elisabeth Allison Allison 4 Applicant: Sean Richie De Luna Residence DR603-0274 Deck addition 1720 Sunburst Drive/Nail Golfcourse TH Applicant: Prima Associates Vail Das Schone DRB03-0277 Replace existing awnings same for same 2121 North Frontage Road WestNail Das Schone Filing 3 Applicant: Vail Das Schone Condo Assn., represented by Scott Wirth Sun Vail Condos DRB03-0286 Replace existing sidewalk with ADA compliant sidewalk in same location 625 N. Frontage Rd./Lot 9, Block 2, Vail Potato Patch Applicant: Sun Vail Condominiums, represented by Design Workshop, Inc. Thomas Residence DRB03-0281 Repair roof same for same 1650 Vail Valley Drive / Fallridge Condominiums Applicant: Master Sealers Dugan residence DRB02-0385 Re-roof with asphalt shingle 2642 Kinnickinnick Court/Lot 5, Block 2, Vail Intermountain Applicant: Sue Dugan Caples Residence DRB03-0236 Changes to approved plans 2537 Arosa Drive /Lot 6, Block E, Vail Das Schone Filing 1 Applicant: Rich Caples Golden Peak DRB03-0304 Removal and replacement of trees 458 Vail Valley Drive /Tract F, Vail Village 5th Filing Applicant: Vail Resorts, represented by Rick Sackbauer Timber Falls Condominiums, Phase III DRB03-0285 Re-roof to asphalt shingle 4524 East Meadow Drive/Timber Falls Condo Assoc., Bldg 9 Applicant: Dick Vossler Vail Village Inn Plaza DRB03-0161 Reroof with Class A-rated cedar shakes 143 E. Meadow Drive /Lot O, Block 5D, Vail Village 1St Filing Applicant: Vail Village Plaza Condo Assoc. Cascade Crossing DRB03-0308 Airconditioning condenser 1031 South Frontage Road West/Unplatted Applicant: Tolin Mechanical Systems Allison Warren Warren Allison Elisabeth Allison Allison Elisabeth Allison Bill 5 Global Remnants DRB03-0093 New sign 3971 Bighorn Rd. / Pitkin Creek Park Applicant: Mark Manuele Treakle DRB03-248 Deck restoration/removal of illegal construction 5064 Black Gore Drive /Lot 4A, Vail Meadows Filing 1 Applicants: Robert W. and Christine L. Treakle Donovan Park DRB03-0301 Dedication plaque, screening fence, pole light 1600 S. Frontage Rd. / Donovan Park Unplatted Applicant: Town of Vail, represented by VAg, Inc. Duncan Residence DRB030291 Re-roof from shake to cedar shake 1418 Vail Valley Drive/Lot 19, Block 3, Vail Valley Filing 1 Applicant: Duncan Rowley, Plath Construction Allison Matt Allison Elisabeth The applications and information about the proposals are available for public inspection during regular office hours in the project planner's office, located at the Town of Vail Community Development Department, 75 South Frontage Road. Please call 479-2138 for information. Sign language interpretation available upon request with 24 hour notification. Please call 479- 2356,Telephone for the Hearing Impaired, for information.