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HomeMy WebLinkAbout2003-10-17 Support Documentation Town Council Work SessionTOWN COUNCIL WORK SESSION AGENDA NOON TUESDAY, OCT. 7, 2003 1 • ITEM/TOPIC: Executive Session • C.R.S. 24-6-402(4)(b) Conferences with Attorney re: Timber Ridge Affordable Housing Corporation (1 hr.) • C.R.S. 24-6-402(4)(b)(e) Conferences with Attorney and Negotiations re: Fire Services (30 min.) • C.R.S. 24-6-402(4)(b)(e) Conferences with Attorney and Negotiations re: Four Seasons Development (15 min.) ------------ LUNCH BREAK (10 min.) 2. Caroline Bradford ITEM/TOPIC: Black Gore Creek Update re: 2004 Funding ,Request (20 min.) 3. Warren Campbell ITEM/TOPIC: Site Visit to Sonnenalp Hotel, 20 Vail Road/parts of Lots Land K, Block 5E Vail Village Filing 1, re: a proposal by Sonnenalp Properties for the adoption of an encroachment easement of the Sonnenalp Hotel building on Town of Vail land, Tract I, Vail Village Filing 1. (20 min.) 4. Matt Gennett ITEM/TOPIC: Sign'Code discussion re: Ordinance No. 19, Series of 2003, an Ordinance repealing and reenacting Title 11, Sign Regulations, Vail Town Code, to accomplish longstanding goals and objectives set forth by the Town, with input from the public, and setting forth details in regard thereto. (45 min.) 5. George Ruther ITEM/TOPIC: Design Review Board/ Planning and Environmental Commission Update (10 min.) 6. Bill Gibson ITEM/TOPIC: Update of proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single- , Family Residential (SFR), Two-Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) zone districts, and setting forth details in regard thereto. (45 min.) ACTION REQUESTED OF COUNCIL: Listen to a staff presentation briefly summarizing the applicant's proposal and the Planning and Environmental Commission's recommendation. Provide staff with specific direction on a review schedule for these proposed text amendments. Page 1 BACKGROUND RATIONALE: On Sept. 8 the Town of Vaii Planning and Environmental Commission forwarded a recommendation of approval for proposed text amendments to the gross residential floor area (GRFA) regulations for Vail's residential zone districts. 7• Information Update (5 min.) 8. Matters from Mayor and Council (5 min.) 9• Adjournment (4:35 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, OCTOBER 21, 2003 IN THE VAIL TOWN COUNCIL CHAMBERS. THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING WILL BEGIN AT 6 P.M. TUESDAY, OCTOBER 21, 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 ~~~ TIMBER RIDGE AFFORDABLE HOUSING CORPORATION Board of Directors Meetings October 7, 2003 u ~' ~1 ~J L~ TIMBER RIDGE AFFORDABLE HOUSING CORPORATION BOARD OF DIRECTORS MEETING October 7, 2003 AGENDA I. Marketing and Management Report II. Market Survey III. Review of August 2003 Financial Statement N. Review and approval of 2003 Budget V. Review and approval of 2004 Budget VI. Maintenance Assessment Report VII. New Business -Open Discussion VI. Next Scheduled Meeting: 1 TIMBER RIDGE VILLAGE APARTMENTS ' MARKETING AND MANAGEMENT REPORT September 29, 2003 ACTIONS AND ACTIVITIES: Timber Ridge Staff has given attention to the following projects since July: ' 1) The Leasing & Management office is currently running on a 5 day a week schedule. Tours are available. ' 2) The Management office and Maintenance shop have been reorganized and should provide an environment that is much more effective than the previous set up. 3) The Management team is currently working on a maintenance needs assessment for ' the property. 4) Stairwell inspections are being conducted to remove the garbage and personal items that people are storing underneath. 5) A contract has been signed with Automatic Laundry. Under the terms of the contract, Automatic Laundry will be providing new machines as well as capital to renovate the laundry rooms and office. The first laundry room should be receiving ' new equipment within the next two weeks. 6) In conjunction with the laundry contract, bids have been obtained and we are awaiting final approval to renovate the main office, mail room and 2 laundry rooms. ' Included in the bids are new carpet for the 2 office apartments as well as renovation costs for the general apartments. 7) The exterior of the Leasing office has been improved with the removal of the ' fountains, the repainting and re-cementing of the front porch, and the repairs to the damaged walls. In addition, all outdoor vending machines and garbage receptacles have been relocated and all fake foliage has been removed. 1 8) We are experiencing maintenance issues with the water heaters on a weekly basis. The shutoff valves are leaking due to improper installation. Maintenance is t correcting these problems as they occur, however they can't be detected until they are used on a weekly basis so as we fill up apartments, the maintenance issues become clearer. ' 9) The office has received new computers and software including MRI which enables the management team to track resident account receivable and account payable information. 10) The office has also received a new fax machine and copier. 11) We switched some apartments with Vail Resorts (in anticipation of the upcoming apartment return date) to restrict them to certain buildings. During this transition we are making the necessary changes to the locks, electric bills and for MRI. ' 12) A lawn company has been contracted to maintain and beautify the property grounds. 13) The Management team has received positive feedback from residents that are ' satisfied with the response time for service requests as well as the improvements to the property policies. i J 1 1 CURRENT LEASING TRAFFIC: 1) Current occupancy is at 82% with 163 units and lpre-leased unit. There are 159 units rented at full market value and 4 units rented at a discount. Of the 4 units rented at a discount, 3 are employees and 1 is a special consideration for moving out of his apartment early and into another one so our Service Manager could move into that apartment. Another maintenance technician informed me that he will need an apartment by early October. 2) On November 1St, Vail Resorts will be vacating 30 of their master leased apartments. 3) On November 1St, Vail Cascade will be vacating 4 of their master leased apartments. 4) We have had an increase in the number of inquiries to rent apartments, but all have been for 6 month leases which we cannot accommodate. In addition to short term leases, we have received the following objections: several prospects have pets which we currently do not accept, others have commented that the rates are too high, and many have been dissatisfied with the interior appearance of the apartments, specifically carpet and appliances. MARKETING 1) Currently we have a display ad in the Vail Daily and Mountain Homes and Properties. 2) An Internet advertisement is in place on Homestore.com 3) Timber Ridge Village became a member of the Vail Valley Chamber of Commerce in August. 4) The property is registered to display a booth at the Business and Consumer show hosted by the VVCTB on October 28, 2003. 5) Over 75% of all inquiries are coming from the newspaper and email. We also get referrals from Vail Resorts, current residents and previous residents. 6) Banners displaying "Now Leasing" have been posted in three locations on the property. '~ EAGLE COUNTY MARKET SUMMARY ~ ~ ~ ~ ~ ~ ~ 1D # Pro'ect Namc llevelo r/Owner Year Built Pro'ect Address Pro'ect City Units SF ~ I1 U~rit 'I'~~pes ReudGrit RenUSF Occu rxney 1 Buffalo Ridge Corum Real Estate Group 2003 0930 Swift Gulch Rd. #1-105 Avon, CO 81620 244 775 $1,009 $1.30 59°k 2 Eaglebend Apartrnents Eaglebend Affordable Housing Corp. 1990 0010 Stonebridge Drive Avon, Colorado 81620 294 730 $843 $1.15 93% 3 Eagle Villas Reliance (Orlando, FL) 1995/1997 0405 Nogal Rd. Eagle, CO 81631 120 999 $890 $0.89 92% 4 Kayak Crossing Eaglebend DOWD Housing Corp 2000 0033 Kayak Court Avon, CO 81620 50 1249 $1,706 $1.37 86% 5 Lake Creek Village Comm Real Estate Group 1995 04923 Lake Creek Village Edwazds, CO 270 883 $1,137 $1.29 90% 6 Middle Creek Middle Creek Affordable Housing Cc 2003-2004 N. Frontage Rd. Vail, CO 142 649 $1,036 $1.60 0% 7 River Run Apartments Elcko Properties 1985 41929 U. S. Highway 6 & 24 Avon, CO 81620 118 989 $1,069 $1.08 85% 8 Timber Ridge Apartments Town of Vail 1973 1280 Frontage Road Vail, CO 81658 198 750 $1,]25 $1.50 83% 9 Mountain Glen Village Mtn. Glen Housing Corp. 2001-2002 0127 Jewel Drive Gypsum, CO 81637 72 985 $1,195 $1.21 57% TOTAL/AVERAGE 168 890 $1,112 $1.27 71.67% UpdeuA 9rlw i3 EAGLE COUNTY MARKET SUMMARY ~ ~ ~ ~ ~ ~ ~ lllk Nroject Nance Unity bfix Sludio SF RenVSF kcaUl,uit li~ufs I Bedroom 1 Batt JGx SF ReuUSF RenUClnit pmts 2 ISnlroow % t or_ W,ih iNix SF hcn USF ReuWnit UnIU 3 Bedromn / 2 BaW liis SF RenUJF RiviUL"iui Cxits 4 &vl room Mix ~F / ' Iin W RcnuJF RcnVOni[ 1 Buffalo Ridge 44 18.03% 325 $1.77 $577 48 19.67% 600 $1.42 $848 112 45.90% 875 $1.27 $1,110 40 16.39% 1199 $1.16 $1,396 0 0.00% 0 $0.00 $0 2 EaglebendApaztments 0 0.00% 0 $0.00 $0 112 38.10% 560 $1.22 $685 138 46.94% 773 $1.15 $892 44 14.97% 1029 $1.06 $1,088 0 0.00% 0 $0.00 $0 3 Fagle Villas 0 0.00% 0 $0.00 $0 0 0.00% 0 $0.00 $0 48 40.00% 894 $0.95. $850 68 56.67% 1065 $0.86 $915 4 3.33% 1140 $0.82 $935 4 Kayak Crossing 0 0.00% 0 $0.00 $0 0 0.00% 0 $0.00 $0 2 4.00% 828 $1.25 $1,035 21 42.00% 1085 $1.37 $1,485 17 34.00% 1271 $1.39 $1,765 5 Lake Creek Village 0 0.00% 0 $0.00 $0 30 11.11% 657 $1.31 $860 152 56.30% 860 $1.29 $1,108 88 32.59% 1000 $1.28 $1,280 0 0.00% 0 $0.00 $0 6 Middle Creek 46 32.39% 400 $1.71 $684 27 19.01% 490 $1.62 $794 24 16.90% 740 $1.54 $1,140 45 31.69% 950 $1.56 $1,484 0 0.00% 0 $0.00 $0 7 River Run Apartments 0 0.00% 0 $0.00 $0 39 33.05% 750 $1.22 $915 60 50.85% 1046 $1.07 $1,114 19 16.10% 1300 $0.96 $1,245 0 0.00% 0 $0.00 $0 8 Timber RidgeAparUnen 0 0.00% 0 $0.00 $0 0 0.00% 0 $0.00 $0 198 100.00% 750 $L50 $1,125 0 0.00% 0 $0.00 $0 0 0.00% 0 $0.00 $0 9 Mountain Glen Village 0 0.00% 0 $0.00 $0 0 0.00% 0 $0.00 $0 54 75.00% 959 $1.21 $1,160 18 25.00% 1062 $1.22 $1,300 0 0.00% 0 $0.00 $0 TOTAL/AVERAGE 10 5.60% 81 $039 $140 28 13.44% 340 $0.75 $456 88 48.43% 858 $1.25 $1,059 38 26.16% 966 $1.05 $1,133 2 4.15% 268 $0.25 $300 UpdnvA 9130/1003 ID# 1 UPDATED: 9/30/2003 PROJECT NAME: Buffalo Ridge TOTAL UNITS: 244 ' ADDRESS: 0930 Swift Gulch Rd. #1-1 05 AVERAGE SIZE: 775 Avon, CO 81620 AVERAGE RENT: $1,009 PHONE NUMBER: (970) 949-1285 AVG. RENT/SF: $1.30 YEAR BUILT: 2003 CUR. OCCUPANCY: 59% DEV/OWNER: Corum Real Estate Group ' UNIT MIX Bed Bath Units Mix SF Total SF Rent Rent/SF Garages Total Rent 0 1 40 16.4% 0 1 4 1.6% 325 325 13,000 1.300 $575 $1.77 $595 $1 R3 $75 R7S $23,000 R2,3R0 Av~1~Jl5iSlu~li0 -1-3 18.0"x. '^_4 I-1,00 ti~?? ~I.?? ~'~,~tiU 1 1 4 1.6% 6U5 2,420 $940 $1.55 $75 $3,760 1 1 4 1.6% 599 2,396 $940 $1.57 $75 $3,760 ' 1 1 40 16.4% 599 23,960 $830 $1.39 $75 $33,200 Avg/Total 1 Bedrm 48 I).7So 600 28,776 aS~14 tiL-t? $=10,720 2 1 48 19.7% 873 41,904 $1,2U8 $1.38 $75 $57,984 2 1 4 1.6% 868 3,472 $1,208 $1.39 $75 $4,832 2 1 4 1.6% 953 3,812 $1,208 $1.27 $75 $4,832 2 1 4 1.6% 846 3,384 $1,208 $1.43 $75 $4,832 2 1 52 21.3% 873 45.396 $996 $1.14 $75 P51,792 ' ~~ ~iTotal 2 Bedrm 112 45.9~~ 875 97,96S `~ I , l 10 ~ I ._'7 ~ I _'-1,~-~ 3 _' 40 ~5.0~; 1 1'~4 ~`.r~hu X1,356 $ I . I ~, 57~ ~~~.5-lU Av~'I'otal 3 Bedrm 40 16.9`: 1149 ~1?,~~Gp $1,396 ~ I . I b ~».S 1(~ Average/Total 244 100.0% 775 189,004 $1,009 $1.30 $246,212 LEASE TERMS: 6-12 months UTILITIES INCL: Heat, Water DEPOSIT $400, $500, $600, $700 PETS: Cats & Dogs accepted INCENTIVES: 1 Month Free PET RENT/DEP: $100 per pet, 2 max $100 non-refundable COMMENTS: In Lease Up ' AMENITIES LAUNDRY: Yes GARAGES: Yes DISHWASHER: Yes CARPORTS: No ' MICROWAVE: No CLUBHOUSE: No AIR CONDITIONING Yes HOTTUB/JACUZZI: No FIREPLACE: No PLAYGROUND: No VAULTED CEILINGS: Yes ' PATIO/BALCONY: Yes INTRUSION ALARM: No MULTIPLE PHONE LINES: Yes ' OTHER: ~I u 1 ID# 2 UPDATED: 9/30/2003 PROJECT NAME: Eaglebend Apartments TOTAL UNITS: 294 ADDRESS: 0010 Stonebridge Drive AVERAGE SIZE: 730 Avon, Colorado 81620 AVERAGE RENT: $843 PHONE NUMBER: (970) 949-9417 AVERAGE RENT/SF: $1.15 YEAR BUILT: 1990 CUR. OCCUPANCY: 93% DEV/OWNER: Eaglebend Affordable Housing Corp. UNIT MIX Bed Bath Units Mix SF Total SF Rent Rent/SF Garages Total Rent 1 1 12 4.1% 536 6,432 $725 $1.35 $50 $8,700 1 1 36 12.2% 542 19,512 $650 $1.20 $50 $23,400 1 1 24 8.2% 542 13,008 $725 $1.34 $50 $17,400 1 1 24 8.2% 594 14,256 $650 $1.09 $50 $15,600 1 1 16 5.4% 594 9 sn4 X725 $122 S50 $11.600 Avg/Total l Beclrm I l~ ?R.!~ ~6u G~.%12 ~b~'S $I.'_' ti,bJOC) 2 1 24 8.2ro 746 17,yu4 $835 $1.12 $SU $2U,U4U 2 1 16 5.4% 746 11,936 $915 $1.23 $50 $14,640 2 1 24 8.2% 754 18,096 $835 $1.11 $50 $20,040 2 1 16 5.4% 754 12,064 $915 $1.21 $50 $14,640 2 1 18 6.1% 764 13,752 $915 $1.20 $50 $16,470 2 1 12 4.1% 768 9,216 $835 $1.09 $50 $10,020 2 1 8 2.7% 768 6,144 $915 $1.19 $50 $7,320 2 1 12 4.1% 880 10,560 $925 $1.05 $50 $11,100 2 1 8 2.7% 880 7.040 $1.110 $1.26 $50 $8,880 Avg/7bta1 2 Aedrrn 138 4t,.o'70 773 106,71 ~ J~9? S 1. I ] $123,150 3 2 24 8.2% 1028 24,672 $1,110 $1.08 $50 $26,640 3 2 12 4.1~ 1030 [2,360 $1,030 $1.00 $50 $12,360 3 2 R 2.7% 1030 R'?40 $],110 $1.08 $SO $R.880 Avg/Total 3Bedrm -u 15.OS< In~~~ 4~._?3 $1,088 $1.06 ~t'-~ti~f~ Average/Total 294 100.0% 730 214,696 $842.62 $1.15 $247,730 LEASE TERMS: 12 months $20app fee UTILITIES INCLUDED: All except phone DEPOSIT: 1.5 monthly rent PETS: Cats accepted INCENTIVES: PET RENT/DEPOSIT: $100 deposit per pet -max 2 COMMENTS: AMENITIES LAUNDRY; Yes GARAGES: No DISHWASHER: Yes CARPORTS: Yes MICROWAVE: Yes CLUBHOUSE: Yes AIR CONDITIONING No HOTTUB/JACUZZI: No FIREPLACE: No PLAYGROUND: Yes VAULTED CEILINGS: No PATIO/BALCONY: Yes INTRUSION ALARM: No MULTIPLE PHONE LINES: No OTHER: ID# 3 UPDATED: 7/15/2003 PROJECT NAME: Eagle Villas TOTAL UNITS: 120 ADDRESS: 0405 Nogal Rd. AVERAGE SIZE: 999 Eagle, CO 81631 AVERAGE RENT: $890 PHONE NUMBER: (970) 328-0104 AVG RENT/SF: $0.89 YEAR BUILT: 1995/1997 CUR. OCCUPANCY : 92% DEV/OWNER: Reliance (Orlando, FL) UNIT MIX 1 Bed Bath Units Mix SF Total SF Rent* Rent/SF Garages Total Rent 2 1 48 40.0% 894 42,912 $850 $0.95 $75 $40,80n Avg/Total 2 Bedrm 48 40.0"l0 X9-1 42,912 `850 .50.9 $40,800 3 2 48 40.0°l0 I U65 51,120 5<~ 1 ~ $0.86 $75 $43,92U 3 2 20 16.7`70 1065 21,300 ~~~ I ~ ~u.s~~ X75 $18,300 Avg/Total 3 Bedrm 68 56.7'10 1065 72,420 $9 l? 50.86 $62,220 4 2 2 1.7% 1140 2,280 $880 $0.77 $75 $1,760 ' 4 2 Z 1.7% 1140 2,280 $989 $0.87 $75 $1,978 Avg/Total 4 Bedrm 4 3.3"/0 1140 4,560 $`>~ '~~.).~?? ti ~•~''8 Average/Total 120 100.0% 999 119,892 $889.65 $0.89 $106,758 i f * f l nt o Rent or each unit type is midpo renta range ' LEASE TERMS: 12 Months $50 App Fee UTILITIES INCLUDED: Water, Sewer, Trash DEPOSIT: One Month's Rent PETS: Cats INCENTIVES: $99 M/I special - $50 app fee $49 Oct. rent PET RENT/DEPOSTT: 200 non-refu 300 pet depo ndable sit COMMENTS: $250 Hold over fee -MENI'I LAUNDRY: Yes GARAGES: No DISHWASHER: Yes CARPORTS: No MICROWAVE: No CLUBHOUSE: No AIR CONDITIONING No HOTTUB/JACUZZI: No ' FIREPLACE: No PLAYGROUND: Yes VAULTED CEILINGS: No PATIOBALCONY: Yes INTRUSION ALARM: No ' MULTIPLE PHONE LINES: No OTxER: Basketball, Jogging Track, Kid's Activity Room, Picnic Area ' Excellent Location Near Westminster Mall ~ - 1 1 1 1 ID# 4 UPDATED: 9/30/2003 PROJECT NAME: Kayak Crossing TOTAL UNIT5: 50 ADDRESS: 0033 Kayak Court AVERAGE SIZE: 1249 Avon, CO 81620 AVERAGE RENT: $1,706 PHONE NUMBER: (970) 949-9417 AVG RENT/SF: $1.37 YEAR BUILT: 2000 CUR. OCCUPANCY : 86% DEV/OWNER: Eaglebend DOWD Housing Corp Bed Bath Units Mix SF Total SF Rent* Rent1SF Garages Total Rent 2 1 2 4.0% 828 1,656 $1.035 $1.25 N/A $2,070 Avg/Tota1 2 Bednn 2 -1.0°Io 828 1,656 `~ 1,03 ~ ~.?? $2,070 3 I I ~ X6.0°l0 1085 14,105 ~I -l~~ ~I ~ N/A $19,305 I b.~)` ~ 1085 ~.6,tiU ~ I -l5i ~ I ,~ 1y/:A $11,880 Avg.,"C~~~a13 F3ednn 21 42.O~;r lOs~ ~~, %~s> 51.~Sy Sl. ~? ~~I.1S5 -1 2 l~ ?-1.(i'; I ~~ I ~ I.h(1~ ~1.~'(,ti ~I ;c~ \";:\ ti;~O.il(1~ Ac~a/Total 4 Bedrn~ 17 ~-1.~`:~ 12? 1 "I ,607 `; l ,7G~ ti 1.39 ~ ~O.OU~ 5 3 10 X0.0°1~ 1638 16,380 $2,05 X1.35 V/:A ~~~.0~(} AvQ/Tota15 Bedrm 10 ?0.0% 1638 16,380 $',~0~ $l.>> 5?~.f)~0 Average/Total 50 100.0% 1249 62,428 $1,706 $1.37 $85,310 LEASE TERMS: 12 months DEPOSIT: 1.5 times monthly rent APP FEE: $20.00 per adult INCENTIVES: $500.00 Deposit Special 1 Month Free UNIT MIX UTILITIES INCLUDED: All except phone PETS: Cats PET RENT/DEPOSIT: $200 per pet COMMENTS: LAUNDRY: Yes DISHWASHER: Yes MICROWAVE: Yes AIR CONDITIONING No FIREPLACE: No VAULTED CEILINGS: No PATIOBALCONY: Yes INTRUSION ALARM: No MULTIPLE PHONE LINES: No AMENITIES GARAGES: No CARPORTS: No CLUBHOUSE: No HOTTUB/JACUZZI: Yes PLAYGROUND: No ~ m,,,. ID# 5 UPDATED: 9/30/2003 PROJECT NAME: Lake Creek Village TOTAL UNITS: 270 ADDRESS: 04923 Lake Creek Village AVERAGE SIZE: 883 Edwards, CO AVERAGE RENT: $1,137 PHONE NUMBER: (970) 926-4550 AVERAGE RENT/SF: $1.29 YEAR BUILT: 1995 CUR. OCCUPANCY: 90% DEV/OWNER: Corum Real Estate Group IX UNIT M Bed Bath 1 1 Units 30 Mix 11.1% SF 657 Total SF 19,710 Rent* $860 Rent1SF $1.31 Carprts/Gar incfided Total Rent $25,800 Avg/Total 1 Be~Lr~ ~~0 I l.l~io 6S i 19,7 10 $S60 ~`~ I . i 1 ~2J.~00 2 2 I~~ ~6.3°Ir R60 130.~~f~ ~I,IOS til.~~) In~lu~l~d tiIGS,-110 Av~'I'otal2Bedi~nl 1~? ~b.~`c ti60 130,70 $1.fOS S1?9 ~165,~11(i 3 ~ Sti ;~.(~`~ 1000 ~,ti.ODU til ~SU 51.2ti Inrlu~l~~ til I' 6-1O Avg/1'ot:{I Bedrm SS 3~.6`;~ 1000 titS,000 ~1,2ti0 ~1.?S 5112,6-1() Average/Total 270 100.0% 883 238,430 $1,137 $1.29 $306,856 ' *Rent for each unit type is midpoint of rental range ' LEASE TERMS: 6-12 months UTILTTIES INCLUDED: Water/Sewer/Trash/Gas DEPOSIT: 1.5 times monthly rent Electric/Cable APP FEE: $20 PETS: Cats & Dogs INCENTIVES: $500 deposit special PET RENT/DEPOSIT: $150 Deposit ' 1/2 month free rent $150 Non-Refundable pet fee $10/mo. Rent COMMENTS: $50 over lease rate Hold Over fee ' AMENITIES LAUNDRY: Yes GARAGES: Yes DISHWASHER: Yes CARPORTS: No MICROWAVE: No AIR CONDITIONING No CLUBHOUSE: HOTTUB/JACUZZI: Yes No FIREPLACE: No PLAYGROUND: Yes VAULTED CEILINGS: No ' PATIOBALCONY: Yes INTRUSION ALARM: No MULTIPLE PHONE LINES: Yes ' OTHER: 1 29/200 9 ID# 6 UPDATED: / 3 PROJECT NAME: Middle Creek TOTAL UNITS: 142 ' ADDRESS: N. Frontage Rd. AVERAGE SIZE: 649 Vail, CO AVERAGE RENT: $1,036 PHONE NUMBER: AVG. RENT/SF: $1.60 YEAR BUILT: 2003-2004 CUR, OCCUPANCY: 0% DEV/OWNER: Middle Creek Affordable Housing Corp. UNIT MIX Bed Bath Units Mix SF Total SF Rent Rent/SF Garages Total Rent ' 0 1 4 2.8°~ 400 1,600 $540 $1.35 $2,160 0 1 2 1.4% 400 800 $607 $1.52 $1,214 0 1 38 26.8% 400 15,200 $695 $1.74 $26,410 0 1 2 1 4% 400 800 $850 $2.13 $1700 Avg/1'o~alSmdio 46 . ?~-1'i 4~x~ 13,400 $Gft1.-13 til.%I b314;1 1 1 25 1" F^' 490 1'_,250 $72SU w 1 "> $ t9 ~tx~ 1 I ~ I ~~, 490 980 $975 til ~~~~ $L9S0 Avg/TottillBdrm 27 1"~-i~<~ 490 13,230 .$794.44 5~.~]_ $'_I.4~ii I~ ~, 740 8.880 8930 ti I 'r, ~ I I I ~ ,~ i I' € , 740 8 ~:n wl 350 ` I x, 91~ ,~vi Avg/ra<'d 2 Bdcm ^_4 li ~~'~ 740 1~.~'6U 51 i 40.00 ti, ~4 ~ ~GU 3 2 6 4.2io 9~0 5,700 $1,595 $1.68 $9,170 3 2 27 19.0% 950 25,650 $1,695 $1.78 $45,765 3 2 12 R Sol 950 ~ l.ann 81.750 $1.84 $21,000 AvnlTot~al 3 Bdrm 45 ~ ] %~ ; 950 4','~U S L4~i3 G? 51-`h $66.70. Average/Total 142 l00.0"io 649 92,140 $1,036 $1.60 $147,059.00 ' LEASE TERMS: UTILITIES INCLUDED: DEPOSIT: PETS: INCENTIVES: PET RENT/DEPOSIT: COMMENTS: *Currently under construction AMENITIES WASHER/DRYER: DISHWASHER: GARAGES: CARPORTS: MICROWAVE: CLUBHOUSE: OVAL TUB: BUSINESS CENTER: FIREPLACE: GAME ROOM: VAULTED CEILINGS: FITNESS CENTER: PATIO/BALCONY: SWIMMING POOL: INTRUSION ALARM: JACUZZI: MULTIPLE PHONE LINES: VOLLEYBALL: PLAYGROUND: ' OTHER: ID# 7 ii 1 UPDATED: 7/16/2003 PROJECT NAME: River Run Apartments TOTAL UNITS: 118 ADDRESS: 41929 U. S. Highway 6 & 24 AVERAGE SIZE: 989 Avon, CO 81620 AVERAGE RENT: $1,069 PHONE NUMBER: (970) 949-4283 AVG. RENT/SF: $1.08 YEAR BUILT: 1985 CUR. OCCUPANCY: 85% DEV/OWNER: Elcko Properties UNIT MIX Bed Bath Units Mix SF Total SF Rent* Rent/SF Garages Total Rent 1 1 39 33.1% 750 29,250 $915 $1.22 N/A $35.685 A~~~/1'otall Bedrm ~ ~9 3;.1';< ?~0 ?9,20 $9l~ 51.~~ 5~~,6R~ 2 1 41 34.7% 975 39,975 $1,070 $1.10 N/A $43,25"70 2 2 19 16.1% 1200 22,800 $1.210 $1.01 N/A $22,990 Avg/Total2Bcdrm 60 >0.8% 1046 62,775 S1,114 5L07 566,60 3 2 19 16.1% 1300 ?4,700 ~J.245 ~~?.~~(~ N/A ~~~.0~~ Avg/Total 3 Bedrm I9 16.1°70 1300 24,700 ~l.?45 50.96 52~ 6~~ Average/Total 118 100.0% 989 116,725 $1,069 $1.08 $126,200 *Rent for each u nit type is midpoint of rental range LEASE TERMS: 12 & 13 months DEPOSIT: 1.5 times monthly rent INCENTIVES: $500 lbr, $600 2br, $700 3br 1/2 off 1st month rent APP FEE: $35 in state, $40 out of state COMMENTS: $200 referral fee UTILITIES INCLUDE Sewer & Trash PETS: Dogs and Cats accepted PET RENT/DEPOSIT: $200 Deposit per pet $25/month/pet AMENITIES LAUNDRY: Yes GARAGES: No DISHWASHER: Yes CARPORTS: No MICROWAVE: Yes CLUBHOUSE: Yes AIR CONDITIONING No HOTTUB/JACUZZI: Yes FIREPLACE: Yes PLAYGROUND: Yes VAULTED CEILINGS: No PATIO/BALCONY: Yes INTRUSION ALARM: No MULTII'LE PHONE LINES: No OTHER: s 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 H)# 8 UPDATED: 9/30/2003 PROJECT NAME: Timber Ridge Apartments TOTAL UNIT5: 198 ADDRESS: 1280 Frontage Road AVERAGE SIZE: 750 Vail, CO 81658 AVERAGE RENT: $1,125 PHONE NUMBER (970) 476-6759 AVG. RENT/SF: $1.50 YEAR BUILT: 1973 CUR. OCCUPANCY: 83% DEV/OWNER: Town of Vail UNIT MIX Bed Bath Units Mix SF Total SF Rent Rent/SF Garages Total Rent 2 1 198 100.0% 750 148,500 $1,125 $1.50 N/A $222.7.50 AvgfI'otal 2 Betirn~ 198 100.0% 750 148,500 `~ 1.125 5l .~0 $222,7SO Average/Total 198 100.0% 750 148,500 $1,125 $1.50 $222,750 LEASE TERMS: DEPOSIT: INCENTIVES: APP FEE: 12 months $500 + $2501ast month $30 UTILITIES INCLUDED: None PETS: None accepeted PET RENT/DEPOSIT: COMMENTS: AMENITH;S LAUNDRY: Yes DISHWASHER: Yes MICROWAVE: No AIR CONDITIONING No FIREPLACE: No VAULTED CEILINGS: No PATIOBALCONY: At Front Door INTRUSION ALARM: No MULTIPLE PHONE LINES: No OTHER: GARAGES: No CARPORTS: No CLUBHOUSE: No HOTTUB/JACUZZI: No PLAYGROUND: No H)# 9 UPDATED: 9/30/2003 PROJECT NAME: Mountain Glen Village TOTAL UNITS: 72 ADDRESS: 0127 Jewel Drive AVERAGE SIZE: 985 Gypsum, CO 81637 AVERAGE RENT: $1,195 PHONE NUMBER: (970)524-0999 AVG. RENT/SF: $1.21 ' YEAR BUILT: 2001-2002 CUR. OCCUPANCY: 57% DEV/OWNER: Mtn. Glen Housing Corp. ' UNIT MIX Bed Bath 2 2 Units 12 Mix 16.7% SF 895 Total SF 10740 Rent $1,150 Rent1SF $1.28 Garages N/A Total Rent $13,800 2 2 6 8.3% 895 5370 $1,180 $1.32 N/A $7,080 2 2 24 33.3% 991 23784 $1,150 $1.16 N/A $27,600 2 2 12 16.7%n A91 11R92 $1.180 $1.19 N/A $14.160 Avt~/'Ih al 2Bedrm 5-4 7x.04 959 ~ 1756 $1, 160 `~ I ? 1 56?.6-t0 3 2 1"2 16.7% 1,U6'2 12744 $1,290 $1.21 N/A $15,480 3 2 6 8.3% 1,062 6372 $1,320 $1.24 N/A $7.920 Avg/Total3Bedrm 18 25.0%a 106? 19,116 $1.00 X1.22 5"'3.400 Average/Total 72 100.0% 985 70,902 $1,195 $1.21 $86,040 1 LEASE TERMS: 1-12 months DEPOSIT: $500, $1000, & $1500 INCENTIVES: $500 Deposit APP FEE: $3O COMMENTS: LAUNDRY: DISHWASHER: MICROWAVE: AIR CONDITIONING ' FIREPLACE: VAULTED CEILINGS: PATIOBALCONY: INTRUSION ALARM: MULTIPLE PHONE LINES: ' OTHER: AMENITIES UTILITIES INCLUDED: PETS: PET RENT/DEPOSIT: Water/Sewer/Trash Cats & Dogs $500 Deposit $200 Non-refundable $25/month pet fee W/D included GARAGES: No Yes CARPORTS: Yes Yes CLUBHOUSE: No No HOTTUB/JACUZZI: No No PLAYGROUND: Yes No Yes No Yes 2 Satellite receivers included per apartment, BBQ grills and picnic tables in playground area. 1 1 1 TIMBER RIDGE AFFORDABLE HOUSING CORP. MONTHLY OPERATING STATEMENTS August 31, 2003 Prepared by: Corum Real Estate Group, Inc. TIMBER RIDGE VILLAGE Income Statement Bass: Accrual For the Month Ending August 31 2003 ACCT MONTHLY MONTHLY MONTHLY YTD YTD YTD ANNUAL # DESCRIPTION ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE BUDGET page I OPERATING INCOME 4001 Gross Potential Rent 333,262.50 0 333,263 333,262.50 0 333,263 0 4005 Vacancies (80,937.50) 0 (80,938) (80,937.50) 0 (80,938) 0 4070 Laundry Income 1,961.41 0 1,961 1,961.41 0 1,961 0 4085 Miscellaneous Income 57.82. 0 58 57.82 0 58 0 4090 Late Fees/NSF Check Fees 25.00 0 25 25.00 0 25 0 TIMBER RIDGE VILLAGE Income Statement. sans: A~~~uai For the Month Ending August 31 2003 ACCT MONTHLY MONTHLY MONTHLY YTD YTD YTD ANNUAL # DESCRIPTION ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE BUDGET page 2 OPERATING EXPENSES ADMINISTRATIVE 5110 Advertising/Promotion 5120 Auto Expense 5125 Marketing Expense 5135 Management Fee 5140 once Expense 5145 Printing/Copying 5150 Postage 5165 Phone/Fax 5170 Dues/Subscriptions 5175 Banking Fees PAYROLL 5220 Wages Administrative 5230 Wages Maintenance 42.00 0 (42) 42.00 0 (42) 0 299.16 0 (299) 299.16 0 (299) 0 120.00 0 {120) 120.00 0 (120) 0 12,419.84 0 (12,420) 12,419.84 0 (12,420) 0 1,166.05 0 (1,166) 1,166.05 0 (1,166) 0 159.55 0 (160) 159.55 0 (160) 0 105.80 0 (106) 105.80 0 (106) 0 546.52 0 (547) 546.52 0 (547) 0 300.00 0 (300) :300.00 0 (300) 0 12.52 0 (13) 12.52 0 (13) 0 11,435.02 0 (11,435) 11,435.02 0 .(11,435) 0 10,546.32 0 (10,546) 10,546.32 0 (10,546) 0 TIMBER RIDGE VILLAGE Income Statement sans: aocr~ai For the Month Ending August 31 2003 ACCT MONTHLY MONTHLY MONTHLY YTD YTD YTD ANNUAL # DESCRIPTION .ACTUAL BUDGET VARIANCE ACTUAL .BUDGET VARIANCE BUDGET page 3 REPAIR & MAINTENANCE HVAC/PLUMBING GROUNDS 5610 Contract -Outdoor Plant 5620 Trash Removal 5705 Security Contract GENERAL REPAIR/MAINTENANCE 5370 Miscellaneous Repairs and Maintenance 5375 Maintenance Equipment 5380 Painting Supplies 5385 Appliance Maintenance 5720 Locks 5760 Other Fire & Life Safety UTILTTIES 5410 Electricity -Common Area 5415 Electricity -Occupied 5450 Water/Sewer 450.00 0 (450) 450.00 0 (450) 0 2,929.66 0 (2,930) 2,929.66 0 (2,930) 0 1,525.00 0 (1,525) 1,525.00 0 (1,525) 0 1,411.56 0 (1,412) 1,411.56 0 (1,412) 0 329.18 0 (329) 329.18 0 (329) 0 12.99. 0 (13) 12.99 0 (13) 0 279.29 0 (279) 279.29 0 (279) 0 78.00 0 (78) 78.00 0 (78) 0 516.00 0 (516) 516.00 0 (516) 0 820.18 0 (820) 820.18 0 (820) 0 971.68 0 (972) 971.68 0 (972) 0 11,184.12 0 (11,184) 11,184.12 0 (11,184) 0 ~ ~ ~ ~ ~ r ~ ~ i ~ ~ ~ ~ i ~ ~ ~ ~ ~ TIMBER RIDGE VILLAGE Income Statement Basis: Accrual For the Month Ending August 31 2003 ACCT MONTHLY MONTHLY MONTHLY YTD YTD YTD ANNUAL # DESCRIPTION ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE BUDGET page JANTTORIAL 5520 Janitorial - Supplies 5830 Propertylnsurance INTEREST INCOME 8105 Interest Income -Miscellaneous 8110 Interest Income -Bank Acct 155.11 0 (155) 155.11 7,414.25 0 (7,414) 7,414.25 91.08 0 91 226.71 0 227 91.08 226:71 0 (155) 0 0 (7,414) 0 0 91 0 0 227 0 INTEREST EXPENSE ~ ~ ~ ~^^ ~ ~ ~ air ~^~r ~ ~ r ~ ~ ~ ~ a~ ~ TIMBER RIDGE VILLAGE Income Statement Basis: Accrual For the Month Ending August 312003 ACCT MONTHLY MONTHLY MONTHLY YTD YTD YTD ANNUAL # DESCRIPTION ACTUAL BUDGET VARIANCE ACTUAL BUDGET VARIANCE BUDGET page 5 AMORTIZATION AND DEPRECIATION 6470 Amortization 6480 Depreciation Expense 5,000.00 0 (5,000) 83,332.00 0 (83,332) 5,000.00 0 (5,000) 83,332.00 0 (83,332) 0 0 6205 Interest Expense - Series A 29,063.95 0 (29,064) 29,063.95 0 (29,064) 0 6210 Interest Expense - Series B 12,986.30 0 (12,986) 12,986.30 0 (12,986) 0 Database: CORUM_MRI BALANCE SHEET Page: 1 ENTITY: TBR Corum Real Estate Group Date: 9/30/03 TIMBER RIDGE VILLAGE Time: 02:40 PM Accrual Aug 2003 ' ASSETS Current Assets Cash Restricted Cash-Security Deposits CASH TRUSTEE ACCOUNTS Replacement Reserve Fund ' Series B Bond Fund Debt Service Reserve Fund Debt Service Reserve - B ' Accounts Receivable Prepaid Insurance ' Total Current Assets Investment in Real Estate Building Computer & Equipment Less: Accum Depreciation Total Investment in Real Estate Intangibles Bond Cost Accum Amort Bond Cost Total Intangibles TOTAL ASSETS 1 213,915.79 55,744.47 90,027.74 546.08 317,146.88 222,849.70 82,825.00 ri ridl d7 auu,oa /. ~ o 20,000,000.00 8,397.00 /R~ ~~7 (lnl ra,ato,uoo.~u 896,590.90 (5,000.00) 891,590.90 Z1 ,iSU~,YOS.US Database: CORUM_MRI BALANCE SHEET Page: 2 ENTITY: TBR Corum Real Estate Group Date: 9/30/03 TIMBER RIDGE VILLAGE Time: 02:40 PM Accrual Aug 2003 ' LIABILITIES & SHAREHOLDER'S EQUITY Current Liabilities Accounts Payable ' Security Deposit Payable Accrued Interest Payable Total Current Liabilities Other Current Liabilities Prepaid Rent ' Total Other Current Liabilities Long Term Debt ' Bonds Payable - A Bonds Payable - B Notes Payable-Townof Vail 1 Total Lon Term Debt 9 SHAREHOLDER'S EQUITY Current Year Profit (Loss) Total Shareholder's Equity TOTAL LIABILITIES AND EQUITY i 1 1 i 1 47,781.38 60,860.00 Z7 ~.1 1 C.R 141 ,'15J.Ub 25.00 25.00 19,025,OOO.Q0 1,580,000.00 1,000,000.00 21,605,000.00 59,074.97 59,074.97 21,805,253.03 Accrual Account Entry Entity Period Date Corum eal E a e roup Date. 9 TIMBER RIDGE VILLAGE Time: 02:39 PM 08/03 - 08!03 Site Job Src Reference Id Code 1005 Cash -Checking Account TBR 08/03 8/29/03 AP 001598 ~ TBR 08/03 9/30/03 MM 001733 ~ 1010 Cash -Money Market TBR 08/03 9130/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9!30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30!03 MM 001733 ~ TBR 08/03 9/30/03 MM 001734 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8129/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8!29103 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08103 8/29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ 1015 Cash -Security Deposit TBR 08/03 9/30103 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 8/29/03 RM 000441 ~ TBR 08/03 8129103 RM 000441 ~ Dept Description Balance Forward A/P Cash Disbursed for checks 2-12 TRANSFER FOR CHECK RUN PLUS $100 MIN BAL ** Account Totals Balance Forward TRANSFER FOR CHECK RUN PLUS $100 MIN BAL RECORD AUG ACTIVITY CHARGE RECORD AUG MMKT INTEREST RECORD WIRE TO US BANK-JULY CLOSING TRANSACTION CLOSING TRANSACTION RECORD CLOSING TRANSACTION LAUNDRY INC AUG 00007030 Cash Recpt PPR PREPAID RENT 00007030 Cash Recpt RNT RENT 00007041 Cash Recpt RM -MISC 00007041 Cash Recpt RM -MISC 00007041 Cash Recpt RNT RENT 00007060 Gash Recpt RM -MISC 00007062 Non Suf Fund RNT RENT 00007072 Cash Recpt RM -MISC 00007072 Cash Recpt RNT RENT 00007089 Cash Recpt RNT RENT 00007089 Paymnt Rev PPR PREPAID. RENT "`Account Totals Balance Forward RECORD AUG SEC DEP INTEREST REC JULY RENT/S/D FROWN AVON 00006981 Cash Recpt SEC Security Deposit 00007030 Cash Recpt SEC Security Deposit "` Account Totals Debit 23,993.55 23,993.55 164.50 63,416.67 6,145.03 400.00 .687.35 75.00 10,612.50 16.13 515.00 149,299.50 1,004.06 311.69 15,013.00 50.00 247,710.43 Credit 23,893.55 23,893.55 23,993.55 12.52 9,538.57 300.00 50.00 33,894.64 34.47 5,150.00 59,910.00 950.00 60,894.47 5,150.00 Balance 0.00 -23,893.55 100.00 100.00 0.00 -23,993.55 -24,006.07 -23,841.57 -33,380.14 30,036.53 36,181.56 36,581.56 37,268.91 37,343.91 47,956.41 47,972.54 48,487.54 197,787.04 198,791.10 198,491.10 198,802.79 213,815.79 213,865.79 213,815.79 213,815.79 0.00 34.47 -5,115.53 54,794.47 55,744.47 55,744.47 Accrual CO_VIRI ~ r ~„~ ~ ~nera~er ~ ~ ~ P TBR Corum Real Estate Group Da-fe: - 9730703 TIMBER RIDGE VILLAGE Time: 02:39 PM 08/03 - 08/03 Account Entity Period Entry Date Src Reference Site Job Id Code Dept Description Debit Credit Balance 1040 Replacement Reserve Fund Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 90,000.00 90,000.00 TBR 08/03 9/30/03 MM 001733 ~ RECORD JULY RESERVE INTEREST 27.74 90,027.74 ** Account Totals 90,027.74 0.00 90,027.74 1050 Series B Bond Fund Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 545.14 545.14 TBR 08/03 9/30/03 MM 001733 ~ INT ON TRUSTEE A/C'S 0.94 546.08 ** Account Totals 546.08 0.00 548.08 1120 Debt Service Reserve Fund Balance Forward 0.00 TBR 08!03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 317,093.94 317,093.94 TBR 08/03 9/30/03 MM 001733 ~ INT ON TRUSTEE A/C'S 52.94 317,146.88 '* Account Totals 317,146.88 0.00 317,146.88 1121 Debt Service Reserve - B Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 222,812.50 222,812.50 TBR 08/03 9/30/03 MM 001733 ~ INT ON TRUSTEE A/C'S 37.20 222,849.70 ** Account Totals 222,849.70 0.00 222,849.70 1300 Accounts Receivable Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ RECORD AUG RENT UP 180,475.00 180,475.00 TBR 08/03 9/30/03 MM 001733 ~ JULY RENTS FROM TOWN OF VAIL 71,850.00 252,325.00 TBR 08/03 9/30/03 MM 001733 ~ REC JULY RENT/S/D FROWN AVON 5,150.00 257,475.00 TBR 08/03 8129/03 RM 000441 ~ 00007030 Cash Recpt RNT RENT 10,612.50 246,862.50 TBR 08/03 8/29/03 RM 000441 ~ 00007041 Cash Recpt RNT RENT 149,299.50 97,563.00 TBR 08/03 8/29/03 RM 000441 ~ 00007062 Charge NSF NSF FEES 25.00 97,588.00 TBR 08!03 8/29/03 RM 000441 ~ 00007062 Non Suf Fund RNT RENT 300.00 97,888.00 TBR 08/03 8/29/03 RM 000441 ~ 00007072 Cash Recpt RNT RENT 15,013.00 82,875.00 TBR 08/03 8/29/03 RM 000441 ~ 00007089 Cash Recpt RNT RENT 50.00 82,825.00 batab_ CO~MRI _ ~ ~ ~ ~ ~nera_er ~ ~ ~ i r Pi r3 ENTITY: TBR Corum Real Estate Group Date: 9/30/03 TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08/03 - 08/03 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 1300 -Accounts Receivable (Continued) 1310 Prepaidlnsurance TBR 08/03 9/30/03 MM 001733 ~ TBR 08103 9/30103 MM 001733 ~ 1535 Bond Cost. TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 TBR 08/03 9/30/03 MM 001733 ~ 1625 Accum Amort Bond Cost TBR 08103 9/30/03 MM 001733 ~ 1812 Computer >I< Equipment TBR 08/03 9/30103 MM 001733 TBR 08/03 9/30/03 MM 001734 ~ 1825 Building TBR 08/03 9/30/03 MM 001733 ~ 1800 Accumulated Depreciation TBR 08/03 9/30/03 MM 001733 ~ *" Account Totals Balance Forward CLOSING TRANSACTION REC INS 7/17-8/31 *` Account Totals Balance Forward CLOSING TRANSACTION CLOSING TRANSACTION RECORD CLOSING TRANSACTION " Account Totals Balance Forward AMORTIZE BOND COSTS . "` Account Totals Balance Forward RECLASS 2 COMP & 1 PRINTER SETUP 2 COMPUTERS & ONE PRINTER *' Account Totals Balance Forward CLOSING TRANSACTION "' Account Totals Balance Forward REC DEPRECIATION 257,800.00 174,975.00 82,825.00 7,995.82 7,995.82 247,267.36 649,723.54 896,990.90 0.00 4,034.50 4,362.50 8,397.00 .20,000,000.00 20,000,000.00 0.00 7,995.82 2,454.35 5,541.47 2,454.35 5,541.47 0.00 247,267.36 896,990.90 400.00 896,590.90 400.00 896,590.90 0.00 5,000.00 -5,000.00 5,000.00 -5,000.00 0.00 4,034.50 8,397.00 0.00 8,397.00 0.00 20,000,000.00 0.00 20,000,000.00 0.00 83,332.00 -83,332.00 atat;s CC=MRI ~ ~ i r ~ener~er ~ r ~ ~ ~ 4 ENTITY: TBR Corum Real Estate Group Date: 9/30/03 TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08/03 - 08/03 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 1900 -Accumulated Depreciation (Continued) 2010 Accounts Payable TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001734 ~ TBR 08/03 9/30/03 MM 001734 ~ TBR 08/03 9/30/03 MM 001734 ~ 2020 Security Deposit Pay able TBR 08/03 8!29/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ 2050 Accr ued Interest Pay able TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ 2055 Prepaid Rent TBR 08/03 8129/03 RM 000441 ~ TBR 08/03 8/29/03 RM 000441 ~ 2060 Bonds Payable - A TBR .08/03 9/30/03 MM 001733 ~ ** Account Totals Balance Forward RECORD JULY MGMT FEE AUG A/P ACCRUAL AUG A/P ACCRUAL SETUP 2 COMPUTERS & ONE PRINTER ** Account Totals Balance Forward 00006981 Cash Recpt SEC Security Deposit 00007030 Cash Recpt SEC Security Deposit ** Account Totals Balance Forward RECORD AUG INTEREST ON LOAN. RECORD JULY &AUG INT SER B ** Account Totals Balance Forward 00007030 Cash Recpt PPR PREPAID RENT 00007089 Paymnt Rev PPR PREPAID RENT ** Account Totals Balance Forward CLOSING TRANSACTION ** Account Totals 0.00 83,332.00 -83,332.00 0.00 3,592.50 -3,592.50 28,934.10 -32,526.60 10,892.28 -43,418.88 4,362.50 -47,781.38 0.00 47,781.38 -47,781.38 0.00 59,910.00 -59,910.00 950.00 -60,860.00 0.00 60,860.00 -60,860.00 0.00 19,525.38 -19,525.38 .12,986.30 -32,511.68 0.00 32,511.68- -32,511.68 0.00 75.00 -75.00 50.00 -25.00 50.00 75.00 -25.00 0.00 19,025,000.00. -19,025,000.00 0.00 19,025,000.00 -19,025,000.00 ~atab~ CO~VIRI ~ ~ ~ ~ r ~nera~er ~ ~ P 5 ENTITY: TBR Corum Real Estate Group Da~ ~3 TIMBER RIQGE VILLAGE Time: 02:39 PM Accrual 08103 - 08/03 Account Entry Site Job Debit Credit Baiance Entity Period Date Src Reference Id Code Dept Description 2080 Bonds Payable - B Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 1,580,000.00 -1,580,000.00 " Account Totals 0.00 1,580,000.00 -1,580,000.00 2741 Notes Payable-Townof Vail Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ CLOSING TRANSACTION 1,000,000.00 -1,000,000.00 *` Account Totals 0.00 1,000,000.00 -1,000,000.00 4001 Gross Potential Rent Balance Forward 0.00 TBR 08/03 9/30103 MM 001733 ~ JULY RENTS FROM TOWN OF VAIL 222,175.00 -222,175.00 TBR 08/03 8131/03 PP 001737 ~ REC 1/2 MONTH JULY 111,087.50 -111,087.50 TBR 08/03 8/29103 RM 000441 ~ Charge V VACANCY 222,175.00 -333,262.50 " Account Totals 111,087.50 444,350.00 -333,262.50 4005 Vacancies Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ RECORD AUG RENT UP 180,475.00 -180,475.00 TBR 08/03 9/30/03 MM 001733 ~ JULY RENTS FROM TOWN OF VAIL 150,325.00 -30,150.00 TBR 08103 8/31/03 PP 001737 ~ REC 1/2 MONTH JULY 119,087.50 -141,237.50 TBR 08/03 8/29/03 RM 000441 ~ Charge V VACANCY 222,175.00 80,937.50 `* Account Totals 372,500.00 291,562.50 80,937.50 4070 Laundry Income Balance Forward ~ 0.00 TBR 08103 9/30/03 MM 001734 ~ LAUNDRY INC AUG 687.35 -687.35 TBR 08/03 8/29/03 RM 000441 ~ 00007060 Cash Recpt RM -MISC 1,004.06 -1,691.41 TBR 08/03 8/29/03 RM 000441 ~ 00007072 Cash Recpt RM -MISC 270.00 -1,961.41 "` Account Totals 0.00 1,961.41 -1,961.41 4085 Miscellaneous Income Balance Forward 0.00 ~atab~ COf~ARI ~ ~ ~erar ~ P ENTITY: TBR Corum eal a e Group D TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08/03 - 08/03 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 4085 -Miscellaneous Income (Continued) TBR 08/03 8/29/03 RM 000441 ~ 00007041 Cash Recpt RM -MISC 16.13 -16.13 TBR 08/03 8/29/03 RM 000441 ~ 00007072 Cash Recpt RM -MISC 41.69 -57.82 ** Account Totals 0.00 57.82 -57.82 4090 Late Fees/NSF Check Fees Balance Forward 0.00 TBR 08/03 8/29/03 RM 000441 ~ 00007062 Charge NSF NSF FEES 25.00 -25.00 ** Account Totals 0.00 25.00 -25.00 5110 Advertising/Promotion Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A!P ACCRUAL 42.00 42.00 ** Account Totals 42.00 0.00 42.00 5120 Auto Expense Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 299.16 299.16 '"' Account Totals 299.16 0.00 299.16 5125 Marketing Expense Balance Forward 0.00 TBR 08/03 8/29/03 AP 001598 ~ 7 8/22!03 2003-4 PARTNER APPL 120.00 120.00 ** Account Totals 120.00 0.00 120.00 5135 Management Fee Balance Forward 0.00 TBR 08/03 9/30/03 MM 001733 ~ RECORD JULY MGMT FEE 3,592.50 3,592.50 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 8,827.34 12,419.84 "* Account Totals 12,419.84 0.00 12,419.84 5140 Office Expense Balance Forward 0.00 TBR 08/03 8/29/03 AP 001598 ~ 1 8/14103 TEST INVOICE 5.00 5.00 TBR 08/03 8/29/03 AP 001598 ~ 1 8/14/03 TEST CHECK 5.00 0.00 ~abas~OR~I ~erall~ ~ ~ Pa ENTITY: TBR Corum Real Estate Group Da~ 9~ TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08/03 - 08/03 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 5140 -Office Expense (Continued) TBR 08/03 8/29/03 AP 001598 ~ 5 8!22/03 7/03 CHRIS VISA TBR 08/03 8/29/03 AP 001598 ~ 6 8/22/03 OFFICE START UP TBR 08/03 8/29/03 AP 001598 ~ 6 8/26103 WRONG VENDOR TBR 08103 8/29/03 AP 001598 ~ 12 8/26/03 OFFICE START UP TBR 08/03 9/30/03 MM 001733 ~ RECLASS 2 COMP & 1 PRINTER TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL ** Account Totals 5145 Printing/Copying Balance Forward TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL ** Account Totals 5150 Postage Balance Forward TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL ** Account Totals 5165 Phone/Fax Balance Forward TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL ** Account Totals 5170 Dues/Subscriptions Balance Forward TBR 08/03 8/29/03 AP 001598 ~ 4 8/22/03 DUES FOR 200 UNITS ** Account Totals 5175 Banking Fees Balance Forward TBR 08/03 9130/03 MM 001733 ~ RECORD AUG ACTIVITY CHARGE ** Account Totals 168.52 168.52 4,034.50 4,203.02 4,034.50 168.52 4,034.50 4,203.02 4,034.50 168.52 997.53 1,166.05 9,240.05 8,074.00 1,166.05 0.00 159.55 159.55 159.55 0.00 159.55 0.00 105.80 105.80 105.80 0.00 105.80 0.00 546.52 546.52 546.52 0.00 546.52 0.00 300.00 300.00 300.00 0.00 300.00 0.00 12.52 12.52 12.52 0.00 12.52 ~atab~ CO~~IRI -neral~!r ~ ~ ~ P ENTITY: TBR Corum Real Estate Group Date: 9730103 TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08/03 - 08703 Account Entry Site Job Entity Period Date Src Reference Id Code Dept Description Debit Credit Balance 5220 Wages Administrative Balance Forward 0.00 TBR 08/03 8/29/03 AP 001598 ~ 3 8/22/03 7/16-7/31 /03 PYRL 3,690.98 3,690.98 TBR 08/03 8/29/03 AP 001598 ~ 3 8/22/03 8/1-8/15/03 PYRL 3,872.02 7,563.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 3,872.02 11,435.02 ** Account Totals 11,435.02 0.00 11,435.02 5230 Wages Maintenance Balance Forward 0.00 TBR 08/03 8/29/03 AP 001598 ~ 3 8/22/03 7/16-7/31/03 PYRL 1,842.47 1,842.47 TBR 08/03 8/29/03 AP 001598 ~ 3 8/22/03 8/1-8/15/03 PYRL 2,285.48 4,127.95 TBR 08/03 8/29/03 AP 001598 ~ 9 8/22103 7/17-7/31/03 CLEANUP 2,030.93 6,158.88 TBR 08/03 9/30!03 MM 001734 ~ AUG A/P ACCRUAL 4,387.44 10,546.32 ** Account Totals 10,546.32 0.00 10,546.32 5367 DoorNVindow Repair/Maintenance Balance Forward 0.00 TBR 08/03 8/29/03 AP 001598 ~ 8 8/22103 MASTER LEASE 119 133,875.00 133,875.00 TBR 08/03 8/29/03 AP 001598 ~ 8 8/25/03 WRONG AMOUNT 133,875.00 0.00 TBR 08/03 8/29/03 AP 001598 ~ 11 8/25/03 MASTER LEASE 119 515.00 515.00 TBR 08/03 8/29103 RM 000441 ~ 00007041 Cash Recpt RM - MISC 515.00 0.00 ** Account Totals 134,390.00 134;390.00 0.00 5370 Miscellaneous Repairs and Mainten Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 816.00 816.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 595.56 1,411.56 ** Account Totals 1,411.56 0.00 1,411.56 5375 Maintenance Equipme nt Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 329.18 329.18 ** Account Totals 329.18 0.00 329.18 atab~ CO~JIRI ~ _neral~r ~ ~ P~ ENTITY: TBR Corum Real Estate Group Da e. TIMBER RIDGE VILLAGE Time: 02:39 PM Accrual 08103 - 08103 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 5380 Painting Supplies Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 @ AUG A/P ACCRUAL 12.99 12.99 *' Account Totals 12.99 0.00 12.99 5385 Appliance Maintenance Balance Forward 0.00 TBR 08/03 9130/03 MM 001734 ~ AUG A/P ACCRUAL 279.29 279.29 "` Account Totals 279.29 0.00 279.29 5410 Electricity -Common Area Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 820.18 820.18 "' Account Totals 820.18 0.00 820.18 5415 Electricity -Occupied Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 971.68 971.68 "' Account Totals. 971.68 0.00 971.68 5450 Water/Sewer Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 4,875.31 4,875.31 TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 6,308.81 11,184.12 ** Account Totals 11,184.12 0.00 11,184.12 5520 Janitorial -Supplies Balance Forward o.oo TBR 08/03 9/30/03 MM 001734 ~ AUG A/P ACCRUAL 155.11 155.11 "` Account Totals 155.11 0.00 155.11 5610 Contract -Outdoor Plant Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 ~ AUG A!P ACCRUAL 450.00 450.00 Accrual ------- COf~IRI ! ~erai~r O P~ TBR Corum eal sate Group Da e. TIMBER RIDGE VILLAGE Time: 0239 PM 08/03 - 08/03 Account Entity Period Entry Date Src Reference Site Job Id Code Dept Description Debit Credit Balance 5610 -Contract -Outdoor Plant (Continued) " Account Totals 450.00 0.00 450.00 5620 Trash Removal Balance Forward 0.00 TBR 08/03 8/29103 AP 001598 @ 10 8/22/03 7/25/03 LANDFILL 73.75 73.75 TBR 08/03 9/30/03 MM 001734 @ AUG A/P ACCRUAL 843.00 916.75 TBR 08/03 9/30/03 MM 001734 @ AUG A/P ACCRUAL 2,012.91 2,929.66 '* Account Totals 2,929.66 0.00 2,929.66 5705 Security Contract Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 @ AUGA/PACCRUAL 1,525.00 1,525.00 *" Account Totals 1,525.00 0.00 1,525.00 5720 Locks Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 @ AUG A/P ACCRUAL 78.00 78.00 '" Account Totals 78.00 0.00 78.00 5760 Other Fire 8. Life Safety Balance Forward 0.00 TBR 08/03 9/30/03 MM 001734 @ AUG A/P ACCRUAL 516.00 516.00 "' Account Totals 516.00 0.00 518.00 5830 Property Insurance Balance Fonward 0.00 TBR 08/03 8/29!03 AP 001598 @ 2 8/14/03 9/3-10/2/03 INS 4,959.90 4,959.90 TBR 08/03 9/30/03 MM 001733 @ REC INS 7/17-8/31 2,454.35 7,414.25 "` Account Totals 7,414.25 0.00 7,414.25 6200 Interest Expense Balance Forward 0.00 6205 Interest Expense - Series A Balance Forward 0.00 ~taba~ COf~ ENTITY: TBR Accrual feral ~r Pa_ Corum Real Estate Group Date: 9/30/03 TIMBER RIDGE VILLAGE Time: 02:39 PM 08/03 - 08/03 Account Entry Site Job Debit Credit Balance Entity Period Date Src Reference Id Code Dept Description 6205 -Interest Expense - Series A (Continued) TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ 6210 Interest Expense -Series B TBR 08103 9/30/03 MM 001733 ~ 6470 Amortization TBR 08/03 9!30/03 MM 001733 ~ 8480 Depreciation Expense TBR 08/03 9/30/03 MM 001733 ~ 8105 Interest Income -Miscellaneous TBR 08/03 9/30/03 MM 001733 ~ 8110 Interest Income -Bank Acct TBR 08/03 9/30103 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ TBR 08/03 9/30/03 MM 001733 ~ RECORD WIRE TO US BANK-JULY 9,538.57 9,538.57 RECORD AUG INTEREST ON LOAN 19,525.38 29,063.95 ** Account Totals 29,063.95 0.00 29,063.95 Balance Forward 0.00 RECORD JULY &AUG INT SERB 12,986.30 12,986.30 *" Account Totals 12,986.30 0.00 12,986.30 Balance Forward 0.00 AMORTIZE BOND COSTS 5,000.00 5,000.00 ** Account Totals 5,000.00 0.00 .5,000.00 8alance Forward 0.00 REC DEPRECIATION 83,332,00 83,332.00 ** Account Totals 83,332.00 0.00 83,332.00 Balance Forward 0.00 INT ON TRUSTEE A/C'S 91.08 -91.08 ** Account Totals 0.00. 91.08 -91.08 Balance Forward 0.00 RECORD AUG SEC DEP INTEREST 34.47 -34.47 RECORD AUG MMKT INTEREST 164.50 -198.97 RECORD JULY RESERVE INTEREST 27.74 -226.71 ** Account Totals 0.00 226.71 -226.71 ** Grand Totals 22,956,066.12 22,956,066.12 Database: CORUM_MRI Aged Delinquencies Page: 1 ENTITY: TBR Corum Real Estate Group Date: 9130/03 TIMBER RIDGE VILLAGE Time: 02:38 PM Period: 08/03 Date Charge Code Source Amount Current 1 Month 2 Months 3 Months 4 Months ; , T13R«~-05 1 ::: ,...... ::; T`AYL '=:RY ~ A[~ 1~ #~~ ~~~dig ~ ` _ >: ,::>.::,;.::,,.,,;>;;:.:.... I~~yc~ent : '~f: ~~ ~3. . , . :: :.::. ;: .~Ta s la ~~:_` ' 8/20/03 8/26/03 RNT NSF RENT CH NSF FEES CH 250.00 25.00 0.00 250.00 0.00 25:00 0.00 0.00 0.00 0.00 0.00 0.00 TAYLOR, RYAN Total: 275.00 25.00 250.00 0.00 .0.00 0.00 TBF~;F 1 ~ 1 VJ41L,.<141JiC1~10N~E~~; 1:tnit: 1 < $u~dina F .::.. :.:;,<:.:<::.: :. ;..; :. r .,. :. . a .: ,> .. ...,. :: v..:.:::oa:: ..• ^. : ::~: Y.:....r.:.:,.. ::.: ~ :.;.e..,,:.;r.~:~ ':: ::3: ''•: : .~ .... .... .... -- ..::::: v ::::.::. ..... ....... .. .. .:.. 8/14/03 RNT RENT CH 1,125.00 0.00 .1,125.00 0.00 0.00 0.00 ' VAIL McDONALDS, Total: 1;125:00 0.00 1,125A0 0.00 0.00 0.00 ,... 8 R»~y04 1 :..: :. _.._ - , .;,: V141L NIC1~i'3N#1,~• a .. rnt t9~:Ba~dmg- >:~ ~x ~..:.::::.:. .:.::::.....:.::.: .. ;;;.. It:: ;< .. hC >: '1~870~>:::;':::>.;;s.; ;.;: - < ;::...:. ~ ,_ . : , :: . ;::... .. 8/14/03 RNT RENT CH 1,125.00 0.00 1,125.00 0.00 0.00 0.00 VAIL McDONALD'S, Total: 1,125.00 0.00 1,125.00 0.00 0.00 0.00 as :c~irz;'> :: _:;'`~€~€'`~> `_ <'>'>°> ,:..::.:.:_ ::. ::::::::.:.. .. :.:: . :..; >.::::: 1~#'t~~'~'.~ti ;t~i~`"< '€€.I~:..;: ~~tx; <>' ` I<~:::,::.:::::::. ; :'tai :"`<''.:''" :; < `', ~;:. :. .. .. .. .: .. .... .. :>.:.. ........ ,......::7...... .....> ::i.. ~~ ::<: ~::l:.:::.: :<:,>;. MELENDEZ, OSCAR Total: 0.00 0.00 0.00 0.00 0.00 0.00 Prepaid: -25.00 ' Balance: -25.00 is ..y- - .....t.> •::: : :::~:> ::: ::.::.:::.::.:::..~. ,:::... ...............:::....::.s:::.....„::..::..:;:::::.:.:;:::>:::~~.'>'s;:'s~z::?:::: ;#.oc::> <>::rx:>~~.,:~s::>:~::>::~~>:::>r..:~:x::;9 ~.!n;:: :>or<::: ' ::;::j' : .: ~ .. .:. .:: .. :....._....... ~.1 .................. rut_.flfi.: test... t:::.:;::..,...„.....: ::::::. :,.: >: ::......:....... :................v..:::::.:.: ;,.: :.f.. : •- 8/14/03 RNT RENT CH 550.00 0.00 550.00 0.00 0.00 0.00 NORTON, OLIVIA Total: 550.00 0.00 550.00 0.00 0.00 0.00 ry I\ I ,: ..: ... .', ... .. ..... ... V,41Ls:::. cQONA Nf L17 :. ::...., ~rt: D~ Bu~d ~tr ~ a..n.'C...ni::`.'~.n:n:::~M::::v::~:::::;..n.n;.v.':n.:i:i':':,::J.:::i<:,*".".32:x :.: .. .:.:..~. :..: :: LaS€~?aetrt >9~~` ia'; > ::::..::. .: ...:...::.:•: . 2~5Q 1~ . ..::.~;:':::i:: ~:2:. .... :. ::..., , i : :' :: ..- ; : ~..... "~ ~ s Laid. ..::::;..:. .e , 8/14/03 RNT RENT CH 1,125.00 0.00 1,125.00 0.00 0.00 0.00 VAIL McDONALDS, Total: 1,125.00 0.00 1,125.00 0.00 0.00 .0.00 ,~. <.:.: i~bSS1"~'~, BRYAIt1 :.:::.::..::.:: U ~i.:#!°t.:.:<~u~~izt ::>;: ,.. . :::::.;<.;:.::.;:.,:<:,::..:-:.::.:...E;a. meat,..:......:t~f't~.Q~::...........:.. ..~, <r~«' ~:< 't't'i''€lf :.:..~ ' 8/20/03 RNT RENT CH 500.00 0.00 500:00 0.00 0.00 0.00 CROSSLEY, BRYAN Total: 500.00 0.00 500.00 0.00 0.00 0.00 <; :.$R-0-03-1 , ,.: ::::: ~fi~1~:~30Ai~L~~ ' : ~~11#:t13 :Sa~r31119 ,~ ~ :::: ;i::>>:~a5t i~'~Rr~t $~ ., _ ~":~ ....... :. :.::::::.:::: ;:<:::: .:.. ,.:.,:, >, . .... . , im T es Late , 8/14/03 RNT RENT CH 1,125.00 0.00 1,125.00 0,00 0.00 0.00 VAIL McDONALDS, Total: 1,125.00 0.00 1,1.25.00 0.00 0.00 0.00 ' ENTITY TBR Total: 5,825.00 25.00 5,800.00 0.00 0.00 0.00 Database: CORUM_MRI Aged Delinquencies Page: 2 ENTITY: TBR Corum Real Estate Group Date: 9/30103 TIMBER RIDGE VILLAGE Time: 02:38 PM Period: 08/03 Date Charge Code Source Amount Current 7 Month 2 Months 3 Months 4 Months Prepaid: -25.00 ' Balance: 0.00 Grand Total: 5;825.00 25.00 5,800.00 0.00 0.00. 0.00 Prepaid: -25.00 ' Balance: 5,800.00 i 1 1 i r ® ~ ~ ~ ~ ® ~ TI~R VIE ~ ~ ~ ~ ~ ~ r 2003 OPERATING BUDGET ACCTS DESCRIPTION JAN FEB MAR APR -MAY JUN JUL AUG SEP OCT. NOV DEC TOTAL: OPERATING INCOME 4001 Gross Possible Rents $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $2,673,000 4005 Vacancies/Lost Rent ($222,750) ($222,750) ($222,750) ($222,750) ($222,750) ($222,750) ($154,125) ($39,375) ($39,375) ($37,125) ($67,500) ($65,250) ($1,739,250) Monthly Rent $0 $0 $0 $0 $0 $0 $68,625 $183,375 $183,375 $I85,625 $155,250 $157,500 $933,750 4040 Ren[ Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 4070 Laundry Income $0 $0 $0 $0 $0 $0 $825 $1,950 $1,950 $2,250 $2,720 $2,850 $12,545 4085 Miscellaneous Income $0 $0 $0 $0 $0 $0 $225 $850 $275 $275 $50 $50 $1,425 4090 Late/NSFFees $0 $0 $0 $0 $0 $0 $225 $250 $250 $250 $250 $250 $1,475 4125 Employee Apartments/Garages $0 $0 $0 $0 $0 $0 $0 ($575) ($575) ($575) ($575) ($575) ($2,875) 4140 ReletFees $0 $0 $0 $0 $0 $0 $0 $275 $0 $0 $0 $275 $550 TOTAL OPERATING INCOME $o $o $o $o $o $o $69,900 $lss,x2s $IS5,z7s $ls7sz5 $157,695 $160,350 $946,870 OPERATING EXPENSES ADMINISTRATIVE 5110 Advertising/Promotion $0 $0 $0 $0 $0 $0 $425 $850 $850 $850 $850 $1,500 $5,325 5120 Auto Expense $0 $0 $0 $0 $0 $0 $200 $400 $400 $400 $400 $400 $2,200 5125 Marketing $0 $0 $0 $0 $0 $0 $500 $500 $500 $500 $500 $500 $3,000 5130 Credit Checks $0 $0 $0 $0 $0 $0 $125 $125 $i 25 $125. $125 $125 $750 5135 Management Fee $0 $0 $0 $0 $0 $0 $3,495 $9,291 $9,264 $9,391 $7,885 $8,018 $47,344 5140 Office Expense $0 $0 $0 $0 $0 $0 $275 $575 $575. $575 $575 $575 $3,150 5145 Printing/Copying $0 $0 $0 $0 $0 $0 $225 $425 $425 $425 $425 $425 $2,350 5150 Postage $0 $0 $0 $0 $0 $0 $175 $350 $350 $350 $350 $350 $1,925 5160 Legal Fee's $0 $0 $0 $0 $0 $0 $0 $300 $0 $0 $300 $0 $600 5165 Telephone/Fax $0 $0 $0 $0 $0 $0 $325 $650 $650 $650 $650 $650 $3,575 5170 Dues/Subscriptions/I'raining $0 $0 $0 $0 $0 $0 $100 $750 $0 $350 $750 $0 $1,950 5175 Banking Fee's $0 $0 $0 $0 $0 $0 $10 $20 $20 $20 $20 $20 $110 5398 Parking Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ADMINISTRATIVE $0 $0 $0 $0 $0 $0 $5,855 $14,236 $13,159 $13,636 $12,830 $12,563 $72,279 PAYROLL. 5220 Administrative Wages $0 $0 $0 $0 $0 $0 $3,825 $7,625. $7,625. $11,285 $7,625 $7,625 $45,610 5230 Maintenance Wages $0 $0 $0 $0 $0 $0 $3,250 $6,500 $6,500 $9,620 $6,500 $6,500 $38,870 5240 Cleaning Wages $0 $0 $0 $0 $0 $0 $1,408 $2,816 $2,816 $4,166 $2,816 $2,816 $16,838 5250 Landscaping Wages $0 $0 $0 $0 $0 $0 $1,408 $2,816 $2,816 $4,166 $2,816 $2,816 $16,838 TOTAL PAYROLL $0 $0 $0 $0 $0 $0 $9,891 $19,757 $19,757 $29,237 $19,757 $19,757 $118,156 Date Printed - 9/30/2003 - 4:39 PM Page 1 File Name - TRA Budget2003rg ~ r r ~ ~ ~ ~ ~ T11~3 R~ VILE ~ r ~ ~ ~ ~ ~ ~ 2003 OPERATING BUDGET ACCT# DESCRH'T'ION : JAN. FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL HVAC/PLUMBING 5315 HVAC Repairs $0 $0 $0 $0 $0 $0 $325 $750 $750 $750 $750 $750 $4,075 5320 HVAC Supplies $0 $0 $0 $0 $0 $0 $75 $150 $150 $150 $150 $I50 $825 5345 Plumbing Repairs $0 $0 $0 $0 $0 $0 $250 $500 $500 $500 $500 $500 $2,750 5350 Plumbing Supplies $0 $0 $0 $0 $0 $0 $25 $50 $50 $50 $50 $50 $275 TOTAL HVAC/PLUMBING $0 $0 $0 $0 $0 $0 $675 $1,450 $1,450 $1,450 $1,450 $1,450 $7,925 GROUNDS 5610 Contract-Outdoor Plant $0 $0 $0 $0 $0 $0 $0 $1,850 $1,850 $0 $0 $0 $3,700 5620 Trash Removal $0 $0 $0 $0 $0 $0 $550 $1,100 $1,100 $1,100 $1,100 $1,100 $6,050 5625 Snow Removal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,550 $2,550 $5,100 5630 Sweeping/Striping $0 $0 $0 $0 $0 $0 $0 $0 $0 $750 $0 $0 $750 5655 Grounds Equipment $0 $0 $0 $0 $0 $0 $0 $250 $250 $250 $250 $250 $1,250 TOTAL GROUNDS $0 $0 $0 $0 $0 $0 $550 $3,200 $3,200 $2,]00 $3,900 $3,900 $16,850 GENERAL REPAIR/NIAINT. 5325 Electrical Repaits $0 $0 $0 $0 $0 $0 $50 $50 $50 $50 $50 $50 $300 5330 Electrical Supplies $0 $0 $0 $0 $0 $0 $50 $75 $75 $75 $75 $75 $425 5355 Interior Repairs $0 $0 $0 $0 $0 $0 $75 $125 $125 $125 $125 $125 $700 5365 Maintenance/RepairSupply $0 $0 $0 $0 $0 $0 $75 $125 $125 $125 $125 $125 $700 5367 Door/Window Repair/Maintenance $0 $0 $0 $0 $0 $0 $50 $100 $100 $100 $100 $100 $550 5370 Misc. Repairs & Maintenance $0 $0 $0 $0 $0 $0 $35 $75 $75 $75 $75 $75 $410 5380 Painting Supplies $0 $0 $0 $0 $0 $0 $75 $125 $125 $125 $125 $125 $700 5383 Painting Labor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5385 Appliance Maintenance $0 $0 $0 $0 $0 $0 $150 $300 $300 $300 $300 $300 $1,650 5387 CarpetBlindNinyl $0 $0 $0 $0 $0 $0 $75 $550 $550 $1.,150 $1,150 $1,150 $4,625 5339 Uniforms $0 $0 $0 $0 $0 $0 $0 $0 $800 $0 $0 $0 $800 5350 Locks $0 $0 $0 $0 $0 $0 $100 $250 $150 $100 $50 $0 $650 5760 Other Fire & Life Safety $0 $0 $0 $0 $0 $0 $190 $190 $190 $190 $190 $190 $1,140 TOTAL GENERAL REPAIR $0 $0 $0 $0 $0 $0 $925 $1,965 $2,665 $2,415 $2,365 $2,315 $12,650 UTILITIES 5405 Cable Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5410 Electrical-Common $0 $0 $0 $0 $0 $0 $950 $1,875 $1,875. $1,875 $1,875 $1,875 $10,325 5420 Electrical -Vacant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5440 Gas -Units $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5450 Water/Sewer $0 $0 $0 $0 $0 $0 $3,725 $7,550 $7,550 $6,850 $6,850 $6,850 $39,375 TOTAL UTILITIES $0 $0 $0 $0 $0 $0 $4,675 $9,425 $9,425 $8,725 $8,725 $8,725 $49,700 Date Printed - 9/30/2003 - 4:39 PM Page 2 File Name - TRA Budget2003rg ~ ~ ~ ~ ~ ~ ~ ~ TI~R R~ VIE ~ ~ ~ ~ ~ ~ r ~ 2003 OPERATING BUDGET ACCT# DESCRIPTION JAN FEB MAR APR MAY 3UN JUL AUG SEP OCT NOV DEG TOTAL JANITORIAL 5510 Janitorial Supplies $0 $0 $0 $0 $0 $0 $150 $150 $150 $150 $150 $150 $900 5520 Janitorial Labor $0 $0 $0 $0 $0 $0 $450 $750 $750 $1,150 $1,150 $750 $5,000 5530 Carpet/Drape Cleaning $0 $0 $0 $0 $0 $0 $375 $750 $750 $950 $950 $750 $4,525 TOTAL JANITORIAL $0 $0 $0 $0 $0 $0 $975 $1,650 $1,650 $2,250 $2,250 $1,650 $10,425 OTHER EXPENSES 5810 Real Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5820 Personal Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5830 PropeRyInsurance $0 $0 $0 $0 $0 $0 $0 $4,939 $4,939 $4,939 $4,939 $4,939 $24,695 TOTAL OTHER EXPENSES $0 $0 $0 $0 $0 $0 $0 $4,939 $4,939 $4,939 $4,939 $4,939 $24,695 DOTAL OPERATING EXPENSES $0 $0 $0 $0 $0 $0 $23,546 $56,622 $56,245 $64,752 $56,216 $55,299 $312,680 dET OPERATING INCOME $0 $0 $0 $0 $0 $0 $46,354 ..$129,203 $124,030 .$123,073 $101,479 $105,052 $634,191 OWNER EXPENSE 6105 Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6110 Accounting/Audit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6115 Trustee Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6117 Bad Debt Expense $0 $0 $0 $0 $0 $0 $0 $0 $1,250 $0 $0 $1,250 $2,500 6118 LeaseNehicle Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6160 Other Owner Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL OWNER EXPENSE $0 $0 $0 $0 $0 $0 $0 $0 $1,250 $0 $0 $1,250 $2,500 INTEREST INCOME 8105 Interest Income -Misc. $0 $0 $0 $0 $0 $0 $250 $500 $500 $500 $500 $500 $2,750 TOTAL INTEREST INCOME $0 $0 $0 $0 $0 $0 $250 $500 $500 $500 $500 $500 $2,750 'ASH FLOW AVAILABLE +QRDEBTSERVICE $0 $U $0 $0 $0 $0 $46,604 $129,703 $128,280 $123,573 $101,979 $104,302 $634,441 Date Printed - 9/30/2003 - 4:39 PM Page 3 File Name - TRA Budget2003rg ~ r ~ ~ ~ ~ ~ TI~R R~ VIE ~ ~ ~ ~ ~ r ~ ~ 2003 OPERATING BUDGET ACCT # DESCRIPTION' JAN FEB 14fA12 APR MAY - dUN JUL AUG SEP OCT NOV DEC. TOTAL INTEREST EXPENSE 6160 Mortgage Insurance Premium $0 6170 Debt Service $0 $0 $0 $0 $0 $0 $0 $83,424 $83,424 $83,424 $83,424 $83,424 $417,120 TOTAL INTEREST EXPENSE $0 $0 $0 $0 $0 $0 $0 $83,424 $83,424 $83,424 $83,424 $83,424 $417,120 NCOME BEFORE DEPRECIATION 1NDAMORTIZATION $0 $0 $0 $0 $0 $0 $46,604 .$46,279 $44,856. $40,149 $18,555 $20,878 $217,321 DEPRECIATION & AMORT. 6470 Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6480 Depreciation Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL DEPR/AMORT EXP $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $ET INCOME /(LOSS) $0 $0 $0 $0 $0 $0 $46,604 $36,279 $44,856 $40,149 $18,555 $20,878 $217,321 CASHFLOW Add Back Depr. and Amort $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Replacement Reserve-Expenses $0 $Q $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Replacement Res-Withdrawals $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $D Replacement Reserve-Deposits $0 $0 $0 $0 $0 $0 $0 ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($38,625) CASH FLOW $0 $0 $0 $0 $0 $0 $46,604 $38,554 $37,131 $32,424 $10,$30 $13,53 $17$,696. Date Printed - 9/30/2003 - 4:39 PM Page 4 File Name - TRA Budget2003~g TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT A - 2003 RENTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHL OF UNITS RENT RENT OCCUPIED OCCUPIED INCOME ' JANUARY UNIT TYPES 2 BEDROOMS i98 x $1,125 TOTAL UNITS 198 ' TOTAL MONTHLY GROSS POTENTIAL RENT: LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: FEBRUARY UNIT TYPES 2 BEDROOMS 198 x $1,125 TOTAL UNITS 198 TOTAL MONTHLY GROSS POTENTIAL RENT: ' LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: MARCH UNIT TYPES ' 2 BEDROOMS 198 x $1,125 TOTAL UNITS 198 ' TOTAL MONTHLY GROSS POTENTIAL RENT: LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: ' APRIL UNIT TYPES 2 BEDROOMS 198 x $1,125 ' TOTAL UNITS 198 TOTAL MONTHLY GROSS POTENTIAL RENT: ' LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: ' MAY UNIT TYPES 2 BEDROOMS 198 x $1,125 ' TOTAL UNITS 198 TOTAL MONTHLY GROSS POTENTIAL RENT: LESS VACANT/LOSS RENT ' TOTAL MONTHLY RENTAL INCOME: ' Date Printed - 9/30/2003 - 4:39 PM Page 5 $222,750 x 0 0 $222,750 222 750 $0 $222,750 x 0 0 $222,750 222 750 $0 $222,750 x 0 0 $222,750 222 750 $0 $222,750 x 0 0 $222,750 222 750 $0 $222,750 x 0 0 $222,750 222 750 $0 $0 0% $0 $0 0% $0 _ $0 0% $0 _ $0 0% $0 0% File Name - TRA Budget2003rg $0 $0 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT A - 2003 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY OF UNITS RENT RENT: OCCUPIED OCCUPIED INCOME JUNE UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 0 = $0 TOTAL UNITS 198 0 0% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 222 750 TOTAL MONTHLY RENTAL INCOME: $0 $0 ' JULY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 61 = $68,625 ' TOTAL UNITS 198 61 31 TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 154 125 1 TOTAL MONTHLY RENTAL INCOME: $68,625 $68,625 AUGUST UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 163 _ $183,375 TOTAL UNITS 198 163 82% ' TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 39 375 TOTAL MONTHLY RENTAL INCOME: $183,375 $183,375 SEPTEMBER UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 163 = $183,375 TOTAL UNITS 198 163 82% ' TOTAL MONTHLY GROSS POTENTIAL RENT:. $222,750 LESS VACANT/LOSS RENT 39 375 TOTAL MONTHLY RENTAL INCOME: $183,375. $183,375 OCTOBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 165 $185,625 TOTAL UNITS .198 165 83% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 37 125 ' TOTAL MONTHLY RENTAL INCOME: $185,625 $185,625 Date Printed - 9/30/2003 - 4:39 PM Page 6 File Name - TRA Budget2003rg TIMBER RIDGE VILLAGE APARTMENTS ' EXHIBIT A - 2003 RENTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY i OF UNITS RENT RENT OCCUPIED OCCUPIED INCOME , ' NOVEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 138 = $155,250 ' TOTAL UNITS 198 138 70% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 67 500 ,. TOTAL MONTHLY RENTAL INCOME: $155,250 $155,250 1 DECEMBER UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 140 $157,500 TOTAL UNITS 198 140 71 TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 ' LESS VACANT/LOSS RENT 65 250 TOTAL MONTHLY RENTAL INCOME: $157,500 $157,500 TOTAL ANNUAL GROSS POTENTIAL RENT $2,673,000 LESS VACANT/LOSS RENT ($1,739,250) TOTAL ANNUAL RENTAL INCOME: $933,750 $933,750 Date Printed - 9/30/2003 - 4:39 PM Page.? File Name - TRA Budget2003rg TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2003 OPERATING BUDGET Gn ss Pe~ssihle Kenn `~2,6-,0Ull Gross Possible rent is the total income produced if the property were 100% occupied. See Exhibit A for specifics. Vacancies ~ I , i ~9,2~0) See Exhibit A for specifics. ~ M~mthly Rental lnaame $9~i,7~0 Net rental income is the income for the property after the projected loss for vacancies. Projections aze detailed in ' Exhibit A. 4040 Rent Concessions $0 t None anticipated. 4070 Laundry Income ~ 12.E 15 Laundry Income is based on estimates provided by Automatic Laundry, the contract company providing laundry. service to the property. 4085 Miscellaneous Income `~~,~~~ Miscellaneous Income includes receipt of income in the amount of $25 per application on RES applications, and relet fees m the amount of $275 per lease contract that is tertntnated pnor to the lease temm~ation date. 4090 LateMSF Fees ~ I .-1 %~ $250 per month is anticipated for projected late fees and non-sufficient funds (NSA fees throughout the year. ` ' g 4125 EmployeeApartments/Garages ~~ ~- ~ ~~! Employee Apartments includes the cost to the property in the amount of a 25% discount on monthly rent for three staff ' members that live on-site. 4140 ReletFees 's~~0 one relet fee per month for the months of March through October for current residents that terminated their lease early. EXPEN SES 1 ADMINISTRATIVE 5110 Advertising/Promotion `~~,~25 Advertising and promotional dollars budgeted for newspaper classified advertisements, online Internet advertising and similar one time advertisements. __ _. 00 5120 ;auto Expense $2 X Mileage is based on .36 cents per mile for reimbursement of driving to the post office, hardware store, bank, etc. _ _ ~L~ Vlarketinb r S~,JUU Projected an a~~zrt~c ~,f ~~00 a m~~nth f~,r ~~ul~i~le markciin~~, r~~i~lent retention and ahhrzcia~i~,n func~i~,n~. 5130 Credit Checks $7~0 The credit check fee is based on the charge from credit Retrievers, the company that provides credit checks for new ' applicants. Date Printed - 9/30/2003 Page 8 File Name - TRA Budget2003rg ' TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2003 OPERATING BUDGET 513 ..Management Fee The management fee is based on 5% of the gross collected income per month. 5140 Office Expense ' Budgeted dollars projected for office supplies, computer supplies, copier lease, lease forms, etc. This amount is based on historical data of similar properties. 5145 Printing & Copying Includes reprinun~~ ~~f Icase~, hu~me~> rare, ~Cll~r hra~l .uul ~,th~r ~unilar r~~~zn~c>. S L50 Postage $350 per month for postage, overnight packages and courier service. S 160 Legal Fees Budgeted 11in~ls projected I~or c~iciums inrlu~lin~~ I~ilin~~ (~~s anal ~~u~,rne~~ ~~,~t> ~hn,u~rlu,ut the ~nur~ ~~ar. 5 16~ `t'elephone and: Fax $650 per month for local & long distance calling charges that also includes long distance faxes to the corporate office and the after hours answering service. 5170 Dues and Subscriptions/`Truning Miscellaneous exprnse I~n~ indu~tn~ rcl,ucd peri~~~iral~, ne~~~lerters and other educational materials. ' SI75 Banking Fees Miscellaneous Banking fees for maintaining the operating checking account. ' 5398 Gazage/Pazking Expense, N/A ' PAYROLL 5220 Administrative Wages On-site Community Manager's salary and Leasing Assistant's salary at 40 hours per week each plus payroll taxes and ' benefits mazk up. 5230 Maintenance Wages On-site Maintenance person's salary at 40 hours. per week plus .payroll taxes and benefits mazk up. 5240 CleaningWag~s Cn-site Maintenance herti~m~~ s:~l.u~~~ at 40 h~,ur~ her ~ceck plug ha~rull ~.~~c> anal henelits mark up. 5250 Landscaping Wages ' On-site Maintenance person's salary at 40 hours per week plus payroll taxes and benefits mark up. HVAC/PLUMBING 5315 1LVACRepans This figure reflects dollars for preventative maintenance and contract repairs to the heating and hot water units by an 1 HVAC service contractor. 5320 HVAC Supplies This figure reflects $150 per month for HVAC supplies including filters. ti47,44 53,1 ~0 5~,;~0 51,92 5600 '3,575 $1,~~0 5110 $0 $4,610 `638',870 `~ i6,53S X16,838 54,0 `~ 325 Date Printed - 9/30/2003 Page 9 File Name - TRA Budget2003rg ' TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2003 OPERATING BUDGET ~~4~ Plumbing Repair ' This figure reflects $500 per month for repairs beyond the on site person's maintenance capabilities and after all warranties expire. ' 5350 Plumbing Supplies This figure reflects $50 per month for plumbing supplies for miscellaneous parts, fittings etc. ' GROUNDS 5610 Contract-OutdoorPlar~t ' $1,850 per month is budgeted for the following landscape maintenance items: irrigation start up, two applications of turf fertilizer, tree root feeding, irrigation winterization & additional landscape improvements. 5620 Trash Removal This figure reflects $1,100 per month for two pick ups per week for all property trash containers placed throughout the site. ~62J Snow Removal Snow Removal is budgeted for contract snow removal during the months of October through April for the parking lot areas. The contract calls for snow removal after 3 inches of accumulation. 5630 Sweeping/Striping Sweeping of the parking lots in May and September of debris. ' 5655 Grounds Equipment $250 per month to purchase maintenance equipment/ hand tools, gasoline, oil, filters, etc. GE RAL REPAIR/MAINT C NE ENAN E ' X325 Electrical Repairs Miscellaneous electrical repairs at $50 per month. 5330 Electrical Supplies $75 per month is budgeted to purchase lightbulbs, switch plates, fixture replacements, smoke detectors, batteries, etc. 5355 Interior Repairs $125 budgeted for repairs to the interior of the units caused by wear and tear of previous residents. ' 5365 Maintenance/Repair Supply $125 per month budgeted for miscellaneous maintenance supplies. 5367 Docr/Window Repair/Maintenance $100 per month budgeted for door replacement, window repairs, etc. ' .5370 Misc. Repairs ~~ Maintenance $75 per month for miscellaneous repairs and maintenance.. An additional amount of $267 is budgeted in March for the inspection of all property owned fire extinguishers. 5380 Painting Supplies This figure reflects $125 per month for the purchase of paint supplies based on projected occupancies and prior years ' expenses. 5~',?~0 ti~% __ 5.i00 56.050 ~~,100 $7~0 51,?~0 500 54`_' 5700 5700 5»0 $410 $?00 Date Printed - 9/30/2003 Page 10 File Name - TRA Budget2003rg TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2003 OPERATING BUDGET ' ~3i:i Painting Labor Painting Labor is budgeted through the payroll expense line items. 5385 ~~ppliane~ Maintenance This figure reflects $300 per month for non-reimbursed appliance parts, supplies and repairs. 5360 Carpet/B1indNinyl $150 budgeted per month for carpet repairs and or replacement in addition to repair and/or repair to window blinds and vinyl floors. 5395 Uniforms This line item reflects expenses of $500 in September for the purchase of property uniforms for the winter months. 5720 Locks This figure reflects expenses during peak turnover to cover the costs of lock replacements for units and garages and ' any related supplies. 5760 Other Fire ~. Life;' Safet} Monitoring contract payment of $45 per month and telephone line expense. ' UTILITIES 540 Cable Cost N/A 5410 Electrical -Common This amount reflects projected electric service for vacant units, exterior lighting, common areas and the leasing and Management office. The amounts budgeted are based on last years actual expenses of ,similar properties and the projected occupancy for the remainder of the year 2003. 5420 Electrical - V,icant ' N/A 544(1 Gas-.Units ' N/A 5450 Water/Sewer Water and sewer is based on projections of similar properties actual expenses in prior years. ' JANITORIAL 5510 Janitorial Supplies Budgeted dollars. for janitorial supplies for cleaning comm~~n area>. laun~in~ r~u~nis, anal ~a~are~l onus. ' 5520... .Janitorial Labor This figure represents $5,000 budgeted throughout the year for contract labor for janitorial needs not reimbursed through security deposits and not included in the payroll budget. 5530 Carpet/Drape Cleaning $4,525 annually based on occupancy and tumover rates projected in 2003 including the vacating of 30 master leased ' units by Vail Resorts in October. ' Date Printed - 9/30/2003 Page 11 50 S 1,60 `5-1,6`' $800 5650 SI;140' $0 10, }2 50 50 539, ~7 5900: S~.000 54,5'J File Name - TRA Budget2003rg TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2003 OPERATING BUDGET ' INSURANCE 5810 Real Property Taxes q0 \/A 5820 Personal Pro ert Taxes p Y $0 N/A 5~ 1 ~ `> 5830 Property Insurance - . > > The 2003 projected insurance premium is based on the Farmer's Insurance Agent's premium quote for both property ' and liability insurance. OWNER EXPENSE 61.05 Legal Fees $0 N/A ` 50 6110 Accounting/Audit N/A 6ll5 TrusteeFees $0 N/A E~ 117 Bad Debt Expense ~`~~.~~~ Write-offs of uncollectible accounts received quarterly. 61 15 Leasc/~'ehiele Costs S0 N/A 6160 Other Owner Expenses $0 N/A ' INTEREST INCOME 8105 Interest Income ~',7~0 This line item is the interest income that is earned on all deposited amounts that are in property bank accounts. INTEREST EXPENSE 6160 Mortgage lnsurance Premium yU N/A 6170 Interest Expense 5117.120 This line item is the monthly interest payment for the monthly loan payment based on projections made in the original proforma. ' Date Printed - 9/30/2003 Page 12 File Name - TRA Budget2 003rg ~ ~ O ~ ~~ ~ ~ ~ TIC R~ VIDE ~ ~ ~ ~ ~ ~ ~ ~ 2004 OPERATING BUDGET ACCT# DESCRIPTION JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL::- OPERATING INCOME , 4001 Gross Possible Rents $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $222,750 $2,673,000 4005 Vacancies/Lost Rent ~ ($54,000) ($54,000) ($54,000) ($59,625) ($56,250) ($54,000) ($48,375) ($45,000) ($37,125) ($29,250) ($21,375) ($21,375) ($534,375) Monthly Rent $168,750 $168,750 $168,750 $163,125 $166,500 $168,750 $174,375 $177,750 $185,625 $193,500 $201,375 $201,375 $2,138,625 4040 Rent Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 4070 Laundry Income $2,850 $2;850 $2,850 $2,850 $2,250 $2,250 $1,950 $1,950 $1,950 $2,250 $2,720 $2,850 $29,570 4085 Miscellaneous Income $50 $50 $275 $275 $275 $550 $550 $550 $275 $275 $50 $50 $3,225 4090 Late/NSF Fees $250 $250 $250 $250 $250 $250 $250 $250' $250 $250 $250 $250 $3,000 4125 Employee Apartments/Garages ($575) ($575). '($575) ($575) ($575) ($575) ($575) ($575) ($575) ($575) ($575) ($575) ($6,900) 4140 ReletFees $0 $0' $275 $275 $275 $275 $275 $275. $275 $0 $0 $0 $1,925 TOTAL OPERATING INCOME $1n,32s $1~1,32s $171,825 $166,200 $168,975 $171,500 $176,826 $180,200 $187,800 $195,700 $203,820 $203,950 $2,169,445. OPERATING EXPENSES ADMINISTRATIVE 5110 Advertising/Promotion $850 $850 $850 $850 $850 $850 $850 $850 $850 $850 $850 .$1,500 $10,850 5120 Auto Expense $400 $400 $400 $700 $400 $400 $400 $400 $400 $400 $400 $400 $5,100 5125 Marketing $1,500 $500 $500 _ $500 $500 $500 $1,500 $500 $500 $500 $500 $500 $8,000 5130 Credit Checks $125 $200 $200 $250 $250 $250 $250 $250 $125 $125 $125 $125 $2,275 5135 Management Fee $8,566, $8,566 $8;591 $8,310 $8,449 $8,575 $8,841 $9,010 "$9,390 $9,785 $10,191 $10,198 $108,472 5140 Office Expense $575 $575 $575 $575 $575 $575 $575 $575 $575 $575 $575 $575 $6,900 5145 Printing/Copying $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $425 $5,100 5150 Postage $350 $350 $350 $350 $350 .$350 $350 $350 $350 $350 $350 $350 $4,200 5160 Legal Fee's $0 $300 $0 $0 $300 $0 $0 $300 $0 $0 $300. $0 $1;200 5165 Telephone/Fax $650 $650 $650 $650 $650 $650 $650 $650 $650 $650 $650 $650 $7,800 5170 Dues/Subscriptions/Training $0 $500 $0 $650 $0 $0 $198 $750 $0 $350 $750 $0 $3,198 5175 Banking Fee's $20 ' $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $20 $240 5398 Parking Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL ADMINISTRATIVE $13,461 $13,336 $12,561 $13,280 $12,769 $12,595 $14,059 $14,080 $13,285 $14,030 $15,136 $14,743 $163,335 PAYROLL r 5220 Administrative Wages $7,625 $7,625 $7,625 $11,285 $7,625 $7,625 $7,625 $7,625 $7,625 $11,285 $7,625 $7,625 $98,820 5230 Maintenance Wages $6,500 $6,500 $6,500 $9,620 $6,500 $6,500 $6,500_ $6,500 $6,500 $9,620 $6,500 $6,500 $84,240 5240 Cleaning Wages $2,816 $2,816 $2,816 $4,166 $2,816 $2,816 $2,816 $2,816 $2,816 $4,166 $2,816 $2,816 $36,492 5250 Landscaping Wages $2,816 $2,816 $2,816 $4,166 $2,816 $2;816 $2,816 $2,816 $2,816 $4,166 $2,816 $2,816 $36,492 TOTAL PAYROLL $19,757 $19,757 $19,757 $29,237 $19,757 $19,757 $19,757 $19,757 $19,757 $29,237 $19,757 $19,757 $256,044 Date Printed - 9/30/2003 - 4:40 PM Page 1 Fife Name - TRA Budget2004 ~ ~ ~ ~ ~ r ~ ~ TIII~ RI~ VILE ~ ~ ~ ~ 2004 OPERA ING BUD T ACCT # ` DESCRIPTION JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL HVAC/PLUMBING 5315 HVAC Repairs $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $9,000 5320 HVAC Supplies $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $1,800 5345 Plumbing Repairs $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000 5350 Plumbing Supplies $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $600 TOTAL HVAC/PLUMBING $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $1,450 $17,400 GROUNDS 5610 Contract-Outdoor Plant $0 $0 $0 $0 $1,850 $1,850 $1,850 $1,850 $1,850 $0 $0 $0 $9,250 5620 Trash Removal $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1,100 $1.3,200 5625 Snow Removal $4,550 $2,550 $4,550 $2,550 $0 $0 $0 $0 $0 $0 $2,550 $2,550 $19,300 5630 Sweeping/Striping $0 $0 $0 $0 $550 $0 $0 $0 $200 $0 $0 $0 $750 5655 Grounds Equipment $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $3,000 TOTAL GROUNDS $5,900 $3,900 $5,900 $3,900 $3,750 $3,200 $3,200 $3,200 $3,400 $1,350 $3,900 $3,900 $45,500 GENERAL REPAIR/MAINT. 5325 Electrical Repairs $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $600 5330 Electrical Supplies $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $75 $900 5355 Interior Repairs $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $750 $9,000 5365 Maintenance/Repair Supply $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $3,000 5367 Door/Window Repair/Maintenance $550 $550 $550 $550 $550 $550 $550 $550 $550 $550 $550 $550 $6,600 5370 Misc. Repairs & Maintenance $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500 5380 Painting Supplies $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $1,500 5383 Painting Labor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5385 Appliance Maintenance $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $800 $9,600 5387 Carpet/Blind/Vinyl $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $14,400 5339 Uniforms $0 $0 $800 $0 $0 $0 $0 $0 $800 $0 $0 $0 $1,600 5350 Locks $0 $0 $0 $75 $125 $150 $200 $250 $150 $100 $50 $0 $1,100 5760 Other Fire & Life Safety $190 $190 $190 $190 $190 $290 $190 $190 $190 $190 $190 $190 $2,280 TOTAL GENERAL REPAIR $4,115 $4,115 $4,915 $4,190 $4,240 $4,265 $4,315 $4,365 $5,065. $4,215 $4,165 $4,115 $52,080 UTILITIES 5405 Cable Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5410 Electrical -Common $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $1,875 $I,875 $1,875 $22,500 5420 Electrical -Vacant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5440 Gas -Units $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5450 Water/Sewer $6,850 $6,850 $6,850 $6,850 $6,850 $7,550 $7,550 $7,550 $7,550 $6,850 $6,850 $6,850 $85,000 TOTAL UTILITIES $8,725 $8,725 $8,725 $8,725 $8,725. $9,425 $9,425 $9,425 $9,425 $8,725 $8,725 $8,725 $107,500 Date Printed - 9/30/2003 - 4:40 PM Page 2 File Name - TRA Budget2004 ~ ~ ~ ~ ~ ~ ~ ~ TIII~ RIB VILE ~ ~ ~ ~ ~ ~ ~ 2004 OPERATING BUDGET ACCT# DESCRIPTION JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOY DEC TOTAL JANITORIAL 5510 Janitorial Supplies $225 $225 $225 $225 $225 $225 $225 $225 $225 $225 $225 $225 $2,700 5520 Janitorial Labor $250 $250 $250 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $1,150 $250 $250 $9,300 5530 Carpet/Drape Cleaning $200 $350 $350 $750 $750 $750 $750 $750 $750 $750 $350 $200 $6,700 TOTAL JANITORIAL $675 $825 $825 $2,125 $2,125 $2,125 $2,125 $2,125 $2,125 $2,125 $825 $675 $18,700 OTHER EXPENSES 5810 Real Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5820 Personal Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5830 Property Insurance $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $59,268 TOTAL OTHER EXPENSES $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $4,939 $59,268 COTAL OPERATING EXPENSES $59,022 $57,047 $59,072 $67,846 $57,755 $57,756 $59,270 $59,341 $59,446 $66,071 $58,897 $58,304 $719,827 VET OPERATING INC0141E $112,303 $114,278 $112,753 $98,354 $111,220 $113,744 $117,555 $120,859 $128,354 $124,629 $144,923 $145,647 $1,449,618 OWNER EXPENSE 6105 Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6110 Accounting/Audit $0 $0 $6,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,500 6115 Trustee Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6117 Bad Debt Expense $0 $0 $2,500 $0 $0 $2,500 $0 $0 $2,500 $0 $0 $2,500. $10,000 6118 Lease/Vehicle Costs $850 $850 $850 $850 $850 $850 $850 $850 $850 $850 $850 $850 $10,200 6160 Other Owner Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL OWNER EXPENSE $850 $850 $9,850 $850 $850 $3,350 $850 $850 $3,350 $850 $850 $3,350 $26,700 INTEREST INCOME 8105 Interest Income -Misc. $500 $500 $500 $500 $500 $500 $500. $500 $500 $500 $500 $500 $6,000 TOTAL INTEREST INCOME $500 $500 $500 $500 $500 $500 $500 $500 $500 $500. $500 $500 $6,000 CASH FLOW AVAILABLE FOR DEBT SERVICE $111,953 $113,928 $103,403 $98,004 $110,870 $110,894 $117,205 $120,509 $125,504 $129,279 $144,573 $142,797 $1,428,91$ Date Printed - 9/30/2003 - 4:40 PM Page 3 File Name - TRA Budget2004 ~ ~ ~ ~ ~ r ~ ~ TIII~ Ri~ VILE ~ ~ ~ ~ ~ ~ _ 2004 OPERATING BUDGET ACCT # DESCRIPTION JAN FEB MAR APR MAY JUN JUL AUG SEP UCT NOV DEC TOTAL -! INTEREST EXPENSE 6160 Mortgage Insurance Premium $0 6170 Debt Service $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $1,001,088 TOTAL INTEREST EXPENSE $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $83,424 $1,001,088 NCOME BEFORE nEPRECiATION ,ND AMORTIZATION $28,529 $30,504. $19,979 $14,580 $27,446 $27;470 $33,781 $37,085 $42,080 $45,855 $6.1,149 $59,373 $427,830 DEPRECIATION & AMORT. 6470 Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6480 Depreciation Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL DEPR/AMORT EXP $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 DIET INCOME./ (LOSS) $28,529 $30,504 $19,979 $14,580 $27,446 $27,470 $33,781 $37,085 $42,080 $45,855 $61,149 $59,373 $427,830 CASHFLOW Add Back Depr. and Amort $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Replacement Reserve-Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Replacement Res-Withdrawals $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Replacement Reserve-Deposits ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($7,725) ($92,700) CAS$ FLOW $20,804 $22;779 $12,254 $6,855 $19,721 $19,745 $26,056 $24,360 $34,355 $38;130 $53,424 $51,648 $335,130. Date Printed - 9/30/2003 - 4:40 PM Page 4 File Name - TRA Budget2004 r TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2004 OPERATING BUDGET ~NCOME 4001 Gross Possible Rents $x,673,000 Gross Possible rent is the total income produced if the property were 100% occupied. See Exhibit A for specifics. 1 4005 Vacancies (5534,375) See Exhibit A for specific. Monthly Rental Income `x',135,625 Net rental income is the income for the property after the projected loss for vacancies. Projections are detailed in Exhibit A. 040 070 ~OSS 1090 4125 4140 Rent. Concessions None anticipated. $0 Laundry Income $2,850 Laundry Income is based on estimates provided by Automatic Laundry, the contract company providing laundry service to the property. , Miscellaneous Income Miscellaneous Income includes receipt of income in the amount of $25 per application on RES applications, and relet fees in the amount of $275 per lease contract that is terminated prior to the lease ternrination date. Late/NSF~Fees $250 per month is anticipated for projected late fees and non-sufficient funds (NSF) fees throughout the year. Employee Apuiuneuts/G~uag~s Employee Apartments includes the cost to the property in the amount of a 25% discount on monthly rent for three staff members that live on-site. Relet Fees one relet fee per month for the months of March through October for current residents that terminated their lease early. ~XPENSES ADMINISTRATIVE 110 Advertising/Promotion 1''0 5125 ~ 130 Advertising and promotional dollars budgeted for newspaper classified advertisements, online Internet advertising and similar one time advertisements. Au[o Expense Mileage is based on .36 cents per mile for reimbursement of driving to the post office, hardware store, bank, etc. Marketing Projected expenses for outside marketing, resident retention and appreciation functions. ti ; ~`~> X3,000 (6,900) L925 10,E>0 ~5,100 r~.ooo Credit Checks `~2,2?5 The credit check fee is based on the charge from credit Retrievers, the company that provides credit checks for new applicants. Date Printed - 9/30/2003 Page 5 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2004 OPERATING BUDGET ] 35 Management Fee ~ 108,472 The management fee is based Dui ~'< <~I the gross coll~~tz0 in~~~n~~ per ni~~nth. 140 Ofiice Expense 56;900 Budgeted dollazs projected for office supplies, computer supplies, copier lease, lease forms, etc. This amount is based on historical data of similar properties. I UO ~~ 145 Printing & Copying , Includes reprinting of ]eases, business cards, letterhead and other similar expenses. 4 ?00 5150 Fostage 5 , $350 per month for postage, overnight packages and courier service. 51.60 Lega[ Fees ~ l ,='0{? Legal fees are budgeted for evictions including filing fees and attorney costs throughout the entire year. 5165 Telephone and Fax 57,800 $650 per month for local & long distance calling chazges that also includes long distance faxes to the corporate office and the after hours answering service. ~? 1~~8 5170 Dues rind Suhscripti~~ns/Trainin« • Miscellaneous expense for industry related periodicals, newsletters and other educational materials. 5175 BankingFees $240 Miscellaneous Rankin~~ lees fir maintainin_the ~~i~eratiu~r ~he~kin« .~cc~~uni. 1 $0 5398 Gazage/Parking Expenses N/A • PAYROLL 5220 Administrative ~t'ages ~`>ti.8'-I~ On-site Community Manager's salary and Leasing Assistant's salazy at 40 hours per week each plus payroll taxes and benefits mazk up. ~523U ~laintenarice ~1 3~~c~ 88-t.2-1!) (hi-sits Maintenance hers~m~> sulan~ at ~0 h~~urs per «rek plus ha~~n~ll taxc~> anr] henel~its rn:uk up. 5240 Cleaning Wages $36,492 On-site Maintenance person's salary at 40 hours per week plus payroll taxes and benefits mark up. 5250 Landscaping Wages 5 ~6;-i ~~ On-site Maintenance person's salary at 40 hours per week plus payroll taxes and benefits mark up. 'HVAC/PLUMBING 53 I i HVAC Repairs 9~9,~>Oit ' This figure reflects dollars for preventative maintenance and contract repairs to the heating and hot water units by an HVAC service contractor. 5320 N VAC Supplies x 1,800 This figure reflects $150 per month for HVAC supplies including filters. ' Date Printed - 9/30/2003 Page 6 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2004 OPERATING BUDGET 345 Plumbing Repair 5(1,000 This figure reflects $500 per month for repairs beyond the on site person's maintenance capabilities and after all warranties expire. 350 Plumbing Supplies X600 This figure reflects $50 per month for plumbing supplies for miscellaneous parts, fittings etc. ROUNDS 610 :Contract-Outdoor PIant 59,250 $1,850 per month is budgeted for the following landscape maintenance items: irrigation start up, two applications of turf fertilizer, tree root feeding, irrigation winterization & additional landscape improvements. _ 5620 Trash Removal $13,200 This figure reflects $1,100 per month for two pick ups per week for all property trash containers placed throughout the site. 5625 Snow Removal S 19;,~Q Snow Removal is budgeted for contract snow removal during the months of October through April for the parking lot .areas. The contract calls for snow removal after 3 inches of accumulation. >630 SweepingiStriping $750 Sweeping of the parking lots in May and September of debris. ~G55 Grounds Equipmen~ 53.000 $250 per month to purchase maintenance equipment/ hand tools, gasoline, oil, filters, etc. GENERAL REPAIR/MAINTENANCE l R 600 5325.. Eleetrica epairs. ` Miscellaneous electrical repairs. 5330_ lleetrieal Supplies ~ 5900 $75 per month is budgeted to purchase light bulbs, switch plates, fixture replacements, smoke detectors, batteries, etc. OOU $ ~~ 53 Interior Re ai s p r. 9 , ~~~U hu0(~ete~l liar r~pair~ t~~ ilu ini~~iior of the units caused b~ ~~~rir and tear nl pr~ci~w~ re~id~nt~. 5365 Maintenance/Repair Supply X3.000 $250 per month budgeted for miscellaneous maintenance supplies. 5367 Door/Window Repair/Maintenance ti~6,600 $550 per month budgeted for door replacement, window repairs, etc. 500 1 .5370 Misc. Repairs & Maintenance T , $125 per month for miscellaneous repairs and maintenance. An additional amount of $267 is budgeted in March for the inspection of all property owned fire extinguishers. >3S0 Painting Supplies. 51,500 This figure reflects $125 per month for the purchase of paint supplies based on projected occupancies and prior years ' expenses. t Date Printed - 9/30/2003 Page 7 File Name - TRA Budget2004 ' TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2004 OPERATING BUDGET 383 Painting Labor ~~ This figure reflects $125 per month for the purchase of paint supplies based on projected occupancies and prior years expenses. ~38J Appliance Maintenance X9,600 This figure reflects $800 per month for the replacement of appliances in addition to purchasing appliance parts, ' supplies and repairs. 5360 Carpet/Blind/Vinyl $14,4Ut1 ' $1,200 budgeted per month for carpet repairs and or replacement in addition to repair and/or repair to window blinds and vinyl floors. 395 Uniforms _ __.. ~ 1.600 -This line. item reflects expenses of $800 in March and $800 in September for the purchase of property uniforms for both spring and winter. 720 Locks $1,100 This figure reflects expenses during peak turnover to cover the costs of lock replacements for units and garages and ' any related supplies. 5760 Other Fire & Life Safety 5;,280 Monitoring contract payment of $45 per month and telephone line expense. UTILITIES `5405 Cable Cost ~0 N/A 5410. Electrical -Common A ~ S?~',500 This amount reflects projected electric service for vacant units, exterior lighting, common areas and the leasing and Maria ement office The amounts bud eted are based on last eazs actual ex enses of similaz properties and the ' g g Y P projected occupancy for the remainder of the year 2003. X4`'0 Electrical - Vacant ~0 N/: 5440 Gas -Units 50 ' N/A 5450 Water/Sewer 555.000 Water and sewer is based on projections of similar properties actual expenses in prior yeazs. JANITORIAL 5510 Janitorial Supplies x;3.700 Budgeted dollars for janitorial supplies for cleaning common areas, laundry rooms, management and leasing office and vacated units. 5520 JanitorialLabor ~9,300 This figure represents $8,400 budgeted throughout the yeaz for contract labor for janitorial needs not reimbursed ' through security deposits and not included in the payroll budget. i Date Printed - 9/30/2003 Page 8 File. Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS NARRATIVE FOR 2004 OPERATING BUDGET 530 Carpet/DrapeCleaning X6,700 $4,400 annually based on occupancy and turnover rates projected in 2004 with the highest turnover anticipated during the summer and fall months. ~SURANCE 810 Real Property Taxes 511 ~,',a 820 Personal Property Taxes ~~} N/A 830 Property Insurance `~~~,-'~ The 2004 projected insurance premium is based on the Farmer's Insurance Agent's premium quote for both property and liability insurance. ~WNER EXPENSE 10~ Legal Fees `~~~ N/A I10 Accounting/Audit S6~SUU The annual audit expense is based on McMahon & Associates informal quote. This expense category also includes the annual tax return. 115 Trustee Fees S0 N/A ~l 17 Bad Debt Expense `' ~ 0.000 Write-offs of uncollectible accounts received quarterly. i118 LeaseNehicleCosts ~10,"_'OU ~ Monthly lease payments for a property truck to conduct snow plowing, landscaping projects, etc. i 160 (~therOwner Expenses `~U ~ N/A 'INTEREST INCOME 8105 Interest Income 56,000 This line item is the interest income that is earned on all deposited amounts that are in property bank accounts. INTEREST EXPENSE , ~!I 61.60 Mortgage Insurance Premium N/A ~ 088 1 001 61?0 interest Expense , $ , This line item is the monthly interest payment for the monthly loan payment based on projections made in the original ' proforma. File Name - TRA Bud et2004 Date Panted - 9/30/2003 .Page 9 9 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT A - 2004 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY OF UNITS RENT RENT OCCUPIED OCCUPIED INCOME. JANUARY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 150 = $}68,750 TOTAL UNITS 198 150 76% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 54 000 TOTAL MONTHLY RENTAL INCOME: $168,750 $168,750 FEBRUARY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 150 = $168,750 TOTAL UNITS 198 150 76% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 ' LESS VACANT/LOSS RENT 54 000 TOTAL MONTHLY RENTAL INCOME: $168,750 $168,750 MARCH UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 150 _ $168,750 TOTAL UNITS 198 150 76% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 54 000 TOTAL MONTHLY RENTAL INCOME: $168,750 $168,750 APRIL UNIT TYPES ' 2 BEDROOMS 198 x $1,125 $222,750 x 145 = $163,125 TOTAL UNITS 198 145 73% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 59 625 TOTAL MONTHLY RENTAL INCOME: $163,125 $163,125 ' MAY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 148 = $166,500 ' TOTAL UNITS 198 148 75% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 56 250 TOTAL MONTHLY RENTAL INCOME: $166,500 $166,500 Date Printed - 9/30/2003 - 4:40 PM Page 10 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT A - 2004 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSSPOTENTIAL UNITS PERCENT MONTHLY -0FUNITS RENT RENT' OCCUPIED. .OCCUPIED INCOME ' JUNE UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 150 - $168,750 TOTAL UNITS 198 150 76% ' TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 54 000 TOTAL MONTHLY RENTAL INCOME: $168,750 $188,750 JULY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 155 = $174,375 TOTAL UNITS 198 155 78% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 48 375 TOTAL MONTHLY RENTAL INCOME: $174,375 $174,375 1 AUGUST ' UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 158 = $177,750 ' TOTAL UNITS 198 158 80% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 45 000 "' TOTAL MONTHLY RENTAL INCOME: $177,750 $177,750 SEPTEMBER ' UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 165 - $185,625 TOTAL UNITS 198 165 83% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 37 125 ' TOTAL MONTHLY RENTAL INCOME: $185,625 $185,625 ' OCTOBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 172 = $193,500 ' TOTAL UNITS 198 172 87% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 29 250 ' TOTAL MONTHLY RENTAL INCOME: $193,500 $193,500 Date Printed - 9/30/2003 - 4:40 PM Page 11 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT A - 2004 RENTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY OF UNITS' RENT RENT OCCUPIED OCCUPIED INCOME ' " NOVEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 179 = $201,375 TOTAL UNITS 198 179 90% ' TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 21 375 TOTAL MONTHLY RENTAL INCOME: $201,375 $201,375 r DECEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 179 = $201,375 ' TOTAL UNITS 198 179 90% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 LESS VACANT/LOSS RENT 21 375 TOTAL MONTHLY RENTAL INCOME: $201,375 $201,375 TOTAL ANNUAL GROSS POTENTIAL RENT $2,673,000 LESS VACANT/LOSS RENT ($534,375) TOTAL ANNUAL RENTAL INCOME: $2,138,625 80% $2,138,625 1 1 Date Printed - 9/30/2003 - 4:40 PM Page 12 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS ' EXHIBIT B - 2004 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY OF UNITS RENT RENT OCCUPIED OCCUPIED INCOME JANUARY ' UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 175 - $196,875 Short Term Fee 25 % $275 x 99 = $27,225 TOTAL UNITS 198 175 88% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) LESS VACANT/LOSS RENT $27,225 25 875 TOTAL MONTHLY RENTAL INCOME: $224,100 $224,100 FEBRUARY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 175 = $196,875 ' Short Term Fee 25% $275 x 99 = $27,225 TOTAL UNITS 198 175 88% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $27,225 LESS VACANT/LOSS RENT 25 875 TOTAL MONTHLY RENTAL INCOME: $224,100 $224,100 MARCH UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 175 $196,875 Short Term Fee 25% $275 x 99 - $27,225 ' TOTAL UNITS 198 175 88% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $27,225 LESS VACANT/LOSS RENT 25 875 ' TOTAL MONTHLY RENTAL INCOME: $224,100 $224,100 APRIL UNIT TYPES 2 BEDROOMS 198 x Short Term Fee 25% TOTAL UNITS 198 TOTAL MONTHLY GROSS POTENTIAL RENT: RENTAL PREMIUM (SHORT TERM LEASES) LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: i MAY UNIT TYPES ' 2 BEDROOMS 198 x Short Term Fee 25% TOTAL U N ITS 198 TOTAL MONTHLY GROSS POTENTIAL RENT: RENTAL PREMIUM (SHORT TERM LEASES) LESS VACANT/LOSS RENT TOTAL MONTHLY RENTAL INCOME: Date Printed - 9/30/2003 - 4:40 PM $1,125 $222,750 x 175 - $196,875 $275 x 99 = $27,225 175 88% $222,750 $27,225 25 875 $224,100 $224,100 $1,125 $222,750 x 128 = $144,000 $275 x 5 - $1,375 128 65% $222,750 $1,375 78 750 $145,375 $145,375 Page 13 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT B - 2004 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS'''POTENTIAL UNITS PERCENT MONTHLY OF UNITS RENT RENT OCCUPIED OCCUPIED ItJCOh1E _ JUNE UNITTYPES 2 BEDROOMS 198 x $1,125 $222,750 x 128 - $144,000 Short Term Fee 25% $275 x 5 = $1,375 TOTAL UNITS 198 128 65% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) LESS VACANT/LOSS RENT $1,375 78 750 TOTAL MONTHLY RENTAL INCOME: $145,375 $145,375 JULY UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 128 = $144,000 Short Term Fee 25% $275 x 8 = $2,200 TOTAL UNITS 198 128 65% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $2,200 LESS VACANT/LOSS RENT 78 750 TOTAL MONTHLY RENTAL INCOME: $146,200 $146,200 ' AUGUST UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 128 $144,000 Short Term Fee 25% $275 x 5 - $1,375 TOTAL UNITS 198 128 65% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT. TERM LEASES) $1,375 LESS VACANT/LOSS RENT 78 750 TOTAL MONTHLY RENTAL INCOME: $i 45,375 $145,375 SEPTEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 128 = $144,000 Short Term Fee 25% $275 x 5 = $1,375 i TOTAL UNITS 198 128 65% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $1,375 LESS VACANT/LOSS RENT 78 750 TOTAL MONTHLY RENTAL INCOME: $145,375 $145,375 OCTOBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 128 $144,000 ' Short Term Fee 25% $275 x 5 $1,375 TOTAL UNITS 198 128 65% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $1,375 LESS VACANT/LOSS RENT 78 750 ' TOTAL MONTHLY RENTAL INCOME: $145,375 $145,375 Date Printed - 9/30/2003 - 4:40 PM Page 14 File Name - TRA Budget2004 TIMBER RIDGE VILLAGE APARTMENTS EXHIBIT B - 2004 RE NTAL INCOME PROJECTIONS MONTH TOTAL NUMBER MONTHLY GROSS POTENTIAL UNITS PERCENT MONTHLY j OF UNITS RENT RENfi OCCUPIED OCCUPIED INCOME NOVEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 140 - $157,500 Short Term Fee 25% $275 x 20 = $5,500 ' TOTAL UNITS 198 140 71% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $5,500 LESS VACANT/LOSS RENT 65 250 TOTAL MONTHLY RENTAL INCOME: $163,000 $163,000 DECEMBER UNIT TYPES 2 BEDROOMS 198 x $1,125 $222,750 x 178 $200,250 Short Term Fee 25% $275 x 99 $27,225 TOTAL UNITS 198 178 90% TOTAL MONTHLY GROSS POTENTIAL RENT: $222,750 RENTAL PREMIUM (SHORT TERM LEASES) $27,225 LESS VACANT/LOSS RENT 22 500 ' TOTAL MONTHLY RENTAL INCOME: $227,475 $227,475 TOTAL ANNUAL GROSS POTENTIAL RENT $2,673,000 ' TOTAL RENTAL PREMIUMS $150,700 LESS VACANT/LOSS RENT ($663,750) TOTAL ANNUAL RENTAL INCOME: $2,159,950 81% $2,159,950 i 1 i 1 1 i Date Printed - 9/30/2003 - 4:40 PM Page 15 File Name - TRA Budget2004 Timber Ridge village Inspection Report Interior Renovation Plan 9/27/03 1 1 ~~ i~ t The following report was put together based on a representative sample of apartment homes that were inspected during the week of September 23`d. A brief tour of the exterior was also conducted. The first portion of this report outlines some of the deficiencies and concerns prevalent on the property. In many regards the property is fairly rundown and in need of immediate repairs. For the most part this is due to the improper or lack of maintenance the property has received over the years. In some cases outside consultants should be hired to assess the severity of the situation and recommend solutions, particularly in regards to the electrical and roofing issues.. The latter portion of the report concerns the dated look of the apartment homes and recommendations for interior renovations that will greatly enhance the appeal and marketability of the property overall.. Electrical Many of the exterior lighting fixtures appear to have been updated in the past few years by in house staff. There are a number of fixtures that were full of water due to leaks and improper installation. A good number are not secured properly and could easily fall off the building. It is unclear as to whether the exterior lights that have been added are supplied by a house panel or from a apartment unit or whether the circuits were properly sized. Exposed wiring is prevalent throughout the property at both fixtures and at improperly installed conduit and junction boxes. It also appears that ground movement has pulled apart the connections to the main service panel. In one location the ground wire from the main service panel to the building is not connected to the grounding stake, it could not be determined whether the secondary grounding to the plumbing was intact. Grounding at many of the buildings looked questionable. Zvi r ~ "~ ~ ~. F ~ ~~~r, s i ` ~~ 3 ~~ ~t ' ~ ~ ~~ ~ .._ ~M ~ ~~ '~> y ~ . Exterior Circuit w/out GFI protection ~, '' conductors at Main Service ~. +~ N ~~.~'f A 5P v xf~ ~ ' ~ ~. T~ ~ i ~ hr` ~ > -ih ¢ ~~ ~. 7 r t' .~~ In one area the Fire Alarm wiring is contained in a plywood box with the junctions protected from the rain by a plastic garbage bag. This is typical of the methods that have been used property wide to repair problems Inside the units there were numerous other electrical hazards. In quite a 2 Improperly secured, exposed wiring W ater filled fixture Exposed Conductors 1 t few of the units inspected, the connections to appliances were improperly made in some cases which could easily lead to an employee or resident being shocked. In some cases safety devices designed to prevent fires in the baseboard heaters had been bypassed. .,.. ~,.Y Alarm wiring protected by plastic bag . _~,,, _~s~; r' High temperature cut off bypassed ~s„~i . 'jx18 i:•p1. r:: Some of the light fixtures at in the bathrooms have outlets incorporated into the design that are not GFI protected. No GFI's were present in the kitchen areas. Many of the covers that go over the vanity light strip are missing, therefore wiring is exposed. The bathroom fans and heaters have been disconnected by order of the fire marshal, as they are fire hazards. On most of the water heaters that have been replaced improper connections have been made posing the risk of shock. Due to the age and condition of the ovens it would be advisable to begin a replacement program immediately, as a good deal of the wire insulation is breaking down. Due to the extreme nature of some of these problems it is recommend that a qualified electrician be hired to accurately assess the situation and recommend solutions. Plumbing Many of the plumbing practices that have been used on the property would be in violation of code by todays standard. They include such things as water heater temperature and pressure relief 3 Wire insulation breaking down on ovens due to age/grease Garbage Disposal wired w/out strain relief fitting r valves being hard plumbed with flexible and threaded fittings that run above the level of the tank itself. This could impede proper discharge and is both safety and code violation. An automatic irrigation system of sorts has been installed. It consists of in the ground sprinklers and branch lines supplied with garden hoses from building hose spigots. There are two to three connection per building to this underground sprinkler system. There are no backflows on the ' system, which could lead to contamination of the domestic water supply. Many of the older water heaters have tanks that are rusting through. This results in leaks that are not always easily identifiable until considerable damage has been done to the flooring and structure. w ~~ ~.~.~ No backflo Vdater/Mold damage from Veak d 4 ~, Improper water heater Connections T&P Code/Safety Violation 1 Parking Lot and Sidewalks The parking lot is in need of repairs. There are numerous potholes and large cracks. In some areas it has begun to alligator. It should be patched, and resealed as soon as possible to prevent further breakdown. The sidewalks have deteriorated in many areas to the point of being rubble. These areas should be patched until replacements can be made. l~ , ,. f ~ • '•~ .y Typical of parking lot repairs needed Roofing. Structure. Etc. Y 'f ~ w Jy`, ,`. yL ',t' S f F ' Sidewalks breaking down ti A: w '~~, 4 ~. ~ c .~. On a few of the buildings the roof over the stairs appears to be sagging quite a bit. This should be investigated further by a roofer to determine the extent of the damage. The roofing overall is in poor shape with damaged shingles and flashing. Inside the roofing assembly there is evidence of leaks such as water stains and mold. In numerous places through out the property siding is falling off, soffits are hanging down, trim pieces are missing or beginning to fall off. Few if any of the penetrations for cable, phone or electric have been sealed. All of this allows for water to enter the building envelope causing further damage. In some areas rock and dirt has been piled against the building in attempt to redirect the runoff ' water from rain and snowmelt. This allows for moisture to wick up into the wall assemblies, wetting the insulation, framing and siding. Behind a few of building there was standing water. These areas will. need to be graded to allow for proper drainage. 1 t ~ ~, .Inside the attics there are plumbing chases that are exposed and unnsinuated that could lead to pipes freezing and high heating costs as it acts as a chimney for hot air to escape from the building. The attic access panels in most cases did not have insulation above them, which also wastes energy. Inside the units the there is no method for exhausting the humid air in the bathrooms. This coupled with the past practice of gluing fiberglass panels over the existing the in the tubs creates a prime environment for mold growth. The existing fans were ductless, meaning they simply turned the air over though a filter without removing any moisture. These fans have since been disconnected by order of the fire marshal. They are seized up with rust due to the high humidity levels generated. It would be advisable to have a mechanical contractor look into adding duct work and replacing the existing fans with one that exhaust the air to the exterior. It should also be noted that currently, the humid air will make its way into the roofing assembly were it will condense and cause damage to the decking and promote mold growth. ;~ ~ ~~- {, ;_: ~~ ~.:.~ Sagging -~a.;. ~~ r..~ ~~r.- ,_,.. aF ~';' .~ J~ _ _ _ ~,. _ ~~ i_ ~: ~-- g ~~~ -ti f,~ ,..~- __~.a.m--._. ~~ ~..~-v m- }~ xposed Chase (typical) ~, ° ,~,:: Typical of~Siding Water/Mold Damage .I, '~ ",: ~i A Yi ` -. ~. ti ,, ~, ~ ~~k~~~~ ,; ,,..~ -, S L ~. i~t •~ ~ ,,`~ ~f~ ~~'Dr 4~r~'Ml'~+!J Grading on building 6 ,; ~ i .'~ ti I. I '~`~.: r..,. Typical of sagging roof ~~ ..r.,,,.,M,,,~, ~-~`;~ S , ~ ~. 1 ~~~ ~: ~~ r ~ r .~...~. y~~. ' Inoperable fan and heater in Bathroom (mold. spots) Fiberglass glued over old the (mold growth) Interior Renovation of Apartment Homes The interior finishes of the units are extremely dated and run down. The carpets are very worn ' and the pad in many units is completely broken down. As noted above the bathrooms have had fiberglass enclosures glued over the existing ceramic the that is not only unsightly but allows for water to be trapped between the layers promoting mold growth. In some cases peel and stick vinyl has been laid directly over ceramic floor the creating a similar problem. A good number of the counters, sinks and tubs have numerous stains and chips in them. Below are pictures of some of the interiors followed by suggested replacements. O The appliances are old, inefficient and very costly to repair. In many cases it is hard if not impossible to find parts for some of the appliance due to their age. As seen above the ovens are hazardous due to breakdown of the wiring insulation. Many of the refrigerators have failing door seals, broken shelving and are rusty. Dishwashers are leaky parts are expensive to fix. It is recommended that an intensive renovation of unit interiors begin as soon as possible. This will not only greatly enhance the marketability of the units but also lower utility bills and remove the hazardous conditions. By setting up a plan to renovate a few units at time we will also be creating a reserve of appliance parts, cabinet hardware, etc. that will be stripped from the units under going renovation. This will save money on work orders and turnover cost of the older units. N' Typical Kitchen Typical chips in sinks ^" ~ ~~~ h - ,~ E Mz~ y ~~ ,~r~l',. ~.A ~ i W 'k+ ~ ~u J , ~ 4 .~~ iy !: b^x ... 1 Ii N i`,~- ti: ~ a_ tiff's } ~'. ~'. U ~ y 5 ~ " ' ~rc` ~. V 17rr - .- ~ ~_ ~ ' 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 ~~ 4 ~~ .a- ~N y ~~ ~~ ~., ,~',,.!~ s ., i II ,,~ Typical sink stains Carpet Dishwasher f aK _~ ~.~ ..~ I .,, ~ t '' 1~~ ! t'ti A 1. _ ^CYr14 I TC t L. f~OS d .. '--11 CIA ;^, ~.:- '~_S[[ . Peel and Stick Flooring bubbling and coming up g ~~ ~,, , .~ _,~ _~. ~~~~~, -try, \~ ~ ,~~ ~.,_ 1 c~ 1 1 1 1 1 1 1 i 1 i 1 1 1 1 1 1 1 m row. . a~ Old water damaged and moldy cabinets Old bathroom heaters (inoperable) Each unit renovation would consist of the following all or some combination of the following: Item updated Approximate Cost Replace all base and wall cabinetry (Kitchen and Bath) updated Light Oak finish raised anel $850 Re lace counter to s $100 Re lace Dishwasher $199 Re lace ran a with standard 30" $249 Re lace Frid a $380 Re lace ran a hood $33 Remove existin tub surround and re lace with three iece 3 iece PVC Tile $170 Re lace tub with enameled steel tub $100 Re lace kitchen sink as needed with Double bowl Stainless Steel $40 Re lace Bathroom sink $25 Re lace car et and ad w/ installation $950 based on 3 units er Re lace kitchen li ht with bri hter more efficient florescent fixture w/matchin oak trim $36 Re lace Bath Medicine cabinet Tri-view Mirror, matchin oak $50 Install stri vani li ht above $9.50 Re lace kitchen and bath floorin with sheet vin I Awaitin Bid Maori of the installation would be done be in house staff as time ermits. 9 1 1 1 1 - • 14.6 cubic foot capacity 3 " c = • Two full-width, adjustable ~' rO wire cabinet shelves • Two fixed door shelves ~ wfth tall bottle door srorage • One full-width, white ~i p, vegetable/fruitcrtsper ,~, • Equipped for optional \ _ icemaker A .~ • Deluxe quiet design 30" Electric Range't r.~ _ ~~,~:..:---=w=`-"^"'~`"'~l • NeverClean" condenser • Standard Clean Oven • One 8" Hnd Threeb'. Haatirig Elements • Color Matrheo Oven Door • Chrome Visor Handle • Full-Width Storage Drawer • 46-1/2H x 29-7/6W x 26-3J8"D - White D 285115 Mtg ,~R8525CN/N m, , _ -_ r..n_ _ .. ..~._ i '~'~~.~~ ~~~ ~~ •~ r,~ , '~.. - ~ r k X ~i y;_r. ~e . ~ rwlu _.. '-~ a 1 I~- !t I~~,f~n~, •,~tl~ ~'~ ~ ?s:? i~. ".,. , -- `ri~-~ _ ~ CyyCq Dishwasher't ,,, - • 4 Cyclesl9 Optmns „n~'`~ '~ x . Water Saver. Cycle ` , ~ r yam. _ • Deluxe Silverware Basket - .e- - • Sound Insulation Package ~ ~T • 34H x 24W x 25-1/8°-0-©Q _ ~ .~---~"'"`` 9 :q , J ~ '' yr r ~ ,i J ~'.: ^V f , ~~.1~ y ` ~ `~u ~~ Y .£i... Jr1 r»~ ~{ J ._. ~,Yf`.:cttd~ ~i~l~ ~ ~~L,01E`: i ~~~„~'W -'-' "`'~--1 ~~y ~!' ~,... a • ~ HTRISABM -.. +-w ~` Bianco L4 Classic Wind`or\ Appliances and Cabinetry proposed would be similar to the above. 10 .j Hartford Black Gore Creek Project Update for the Town of Vail October 2003 Eagle River ~°_ Watershed Council Collaborative Approach 35 Member Black Gore Creek Steering Committee PROJECT FUNDING PARTNERS ^ Colorado Department of Transportation ^ Town of Vail ^ Eagle County ^ Eagle River Water & Sanitation District ^ EPA's Nonpoint Source Council ,1 Praarf aJaa , t~ Rive. Wre.~rao cooed! 1. Black Lake Wetland c~ raa.a- ias.s> Summer 2001 .. iraTi~DV:.3 s.'.i.-nert from the wethmd • Installed temporary sedimem control measures • Cleaned out basins beside Bike Path • Drainage Improvemerts • Planted vegetation A Prejed of rkr s Eagle River W~aahel Cauxil Overview ^ History of Capitol Projects 2000 - 2003 ^ 303d Impaired Stream Listing ^ Planning for 2004 ^ Continued Support ~~~ z ~ ~ Wdoa~ ed caned! Six Different Capitol Projects 1. Black Lake Wetland remediation 'Ol 2. Sand Castle `Ol 3. Maintenance yard by Sand Castle `O1 4. Transportation Enhancement Project `02 5. Basins behind/below trucker's bathrooms 6. Partnership Project `03 ~~~ ~ ~ w.OVrhat caupil Black Lake Wetland Cleanup Funding Partners CDOT: $20,000 ERWSD: $4.000 $24,000 A Project ojl6e 6 Eagle Rive Wdadled Council 1 3. Maintenance Yard (MP 189.2 - 189.3) Fa112001 ^ Eagle River Water & Sanitation District, Town of Vail and CDOT: • Paved Maintenance Yard • Small basin with jersey barriers • Revegetation A Praprt of the s Eagh! Rion Wotershed Coatuil 2. Sand Castle iMP~R93, Fall 2000 -Fall 2001 • Previously the largest source of sediment loading to Black Lake No. 1 • CDOT partnered with fiber optics cable company on $2.6 Million building. n prate ojMe R Eagle Rivn Wm~hed Council Maintenance Yard Funding Partners Town of Vail: $4,000 CDOT: $20,000 ERWSD: $6,461 $30,461 A Project ojthe io Eagle Rion Watershed Council ~: -~~,~ _ g nit ~`5".~s. , .. L, a `' ~~~ 2001 mil Pass Maintenance Budget : -~ avg.. 540,000ty to $100,000ly 550,000 Removed sand from behind jersey barriers 7 4. 2002 Transportation Enhancement Project (MP 1%5.3 - IR5 G Nc 1%N {- L%R31 ^ CDOT Region 3 managed the project ^ 2002 -Twice the basins for 2/3 the funds! ^ 2003 -Additional basins constructed, plus improved basins built last season A Prnje t of the ~ z Eagle Rh•n Watershed Council Funding Partners Town of Vail: $30.000 Eagle County: $20,000 CDOT Transportation EnhancemenC $300,722 CDOT Maintenance Funds: 2$ 5,180 S 375,902 A prnjrcr J the i ~ Eagle Rirer Worrrshed Gwneil _ _ ~~y. G: - ~h' -, '~ Te• Sri t __ - ~ rf __~°~~ ..C.~. 1. i . ~ ~1 " ~~ ~'. e. 'f ~ - r P~~olk creek Bike Path Underpass ' 2002 Tramporhtion Enhancement _ -ter - _ _ _ s.; _:;~. -- Y~,,~ : -- ~ _ ~,~ =_ ~; w_ . -• ~. ., ; -- ; ,r.. s T vSa.: ~ ?' ~`. ` -a _ ~~ ~ . yl ZS ~ iw- < -~` ``- Y ~. ~ j, W.".tZ ~ ". _ 'ieni ~EMawenien~Pee~Mlk Y ~.~ - ,„~ _ ~, r -. ,_ 'INF X188.5 Eastib+~ur~d- ~~'~ =. ,,, 5. Nonpoint Source Project IMP 189-1%92) • Behind and below truckei s bathrooms; Westbound Vail Pass- • 4 sediment retention basins • Extensive drainage improvements • Slope stabilization and revegetation A Prr jrcr njrhr Eug(r Rirrr Wvrrslld C'nunril Funding Partners EPA Nonpoint Source: $147,500 CDOT: $75.000 Town of Vail: $6.000 ERWSD: $14.000 $242,500 A Po~cr J7he .u Euglr Rirrr WutrashrJ Cuuncil S 6.2003 Partnership Project ^ Leverages Vail Pass paving project ^ ~ceess federal grant only for 3034 streams ^ L2-16 Sediment Control Basins ^ Ditch paving & rotomill shoulders ^ Local, slate and lerleril lauds ^ Project managemcnl by I I~dn~aphere-ER~'SD in cooperation wish CDOT d Pr ~a Jrhr Eagle Rirer iVatrrshed Cuuned Funding Partners Town of Vail: $100,000 Eagle County: $100.000 EPA 319 Nonpoint Source Funds: $150,000 CDOT Maintenance Funds: $25.000 ERW&SD: 20.000 Contract managed b~ ERW&SD: $395.000 CllOT Paving/RotomilUMobilization: $200.000 $595.000 A Projera oJthr ~, Euglr Rirer Wulrrshrrl ['uuncil i; Construction will continue until winter snows arrive. r " ~~ " t - ~:~ r ~~~ Recap of TOV Funds in 2001 ^ $17,000 Contribution • $4 O00 Sand Castle 1~laintenance Yard pay im, project totaling $30.•161 • $6,OW IYucker's Bathroom project wtaling $'-l7 000 (completed '03) • $7,000 ERWC operations coordination .d Pr JriY flhr Euglr Rirer Wurrrsh ~ Courtci! Recap of TOV Funds in 2003 ^$100,000 Contribution • $70,000 ?003 P;nti;ur ;~f;_ttpit,;( h;uin ,~ njiCt toTnlinT; $~95 O00 • '30,000 LR~b'C' Operation, cr.~:n!iixition :t Pr jerr Jthe ai Euglr Rirrr WarrrshrJ Council Recap Black Gore Creek Funds 2001 2002 2003 Eagle County $30,000• $100,01 TOV $17,000• $50,000• $100.000• CDOT $2,600,000•• $450,500 $300,000 EPA-319 $147,000 $ 150000 f{RW&SD $4,000 $20,000 $20 000 $2,623,000 $(197,500 $67Q000 * Includes LRWC support •• Include:; -S2 Million From fiher optics pnrtncvship on Sand Castle All figures are the best available knowledge of ER WC .1 Project frhr •~ Eaklr Rirrr Wutrrshrr/ Coumil Recap of TOV Funds in 2002 ^$50,000 Contribution • $30.000 `TE" Capitol e~pendirtlre on sediment basin construction totaling $37~,01)U • $30,000 ERWC Operations - coordiwtion ,~Prujrct frhr _x~ Euglr Ri.•rr Wutrrshrrl Cuunci/ TOV Funds in 2004 ^$100,000 Contribution • .$3Q(NH) Finish building sediment basins • $30.000 Develop"I'MUL • $10,000 Complete Long"Penn Monitoring Plan • $30,000 ER WC shtff coordination, fundraising a Pr jrd rf thr y F,uXlr Rirrr Wurrrshrrl Cuurtcil Fels eyeing sand cleanup ^ e'onen+.~wm .knu Arr/irn;s u.ter the e'oloum nrrvrrmrew Mr .pn.evnm m.~rrtf Ae.ol iwd: jn. rlnmint Yp bwdmdi ~rfdmuwid+of rav nlFiRhxav.wWar toil Poxc r+eru Vail Pass cleanup gets congressional push - v _. -,, e me ro.•rk r. t n Im<I durnM c'uuu Id, hmxh in . II k ~ Iv, yv1 I k ha vow nk1 91an,f ~ecXU 5~l).glU to uiJ m., ~o yew. rv ~~ pneir - riznmgr dtort '~ r ~~ ~~ ~~e~n ~t~ lea Y V '%: ~r~ .S.S ~,s ail Pass cle ..~ ,, _ uc;Y~,anup could be very, ostly.•:, k.e •. n...... 1. .s, „, and sentiments sough[ from public Monitoring Plan s Sand and chemicals put on road ~ Sand picked up from roadside and newly built basins • Size of sediment ar,d rocks in creek s t3ugs and fish in creek :! Prr%e~i;fMr EaRlr Rirrr Wutmhrd ('uurtcil a~ Total Maximum Daily Load • How much sand can continue to make it into the creek and still maintain a healthy aquatic ecosystem? • How will we measure success and failure? . f pngeai f ihr u Euglr Rirrr Wuanhrd (ouucd Move forward with various federal and state funding options ^ Assistance with a Federal Appropriation s I `S Army Corps of Engineers s CO t)ept Public ITealth and Environment a State~r~ide Transportation Improvement Plan . t )hr%ret of the u, EuKlr Rirrr Watrrsl rrl ('uuM~il .l DESIGN REVIEW BOARD AGENDA Wednesday, October 1, 2003 3:00 P.M. PUBLIC MEETING PUBLIC WELCOME PROJECT ORIENTATION /LUNCH -Community Development Department MEMBERS PRESENT MEMBERS ABSENT SITE VISITS 1. La Bottega- 100 East Meadow Drive 2. Kendrick Residence - 2975 Manns Ranch Road 3. Numerof Residence - 4410 through 4419 Columbine Drive 4. Owens Residence - 4770 Bighorn Road 5. Hurtado Residence- 5128 Gore Circle 6. West Vail Lodge - 2211 N Frontage Rd 7. Gonzalez- 2339 Chamonix Lane 12:00 pm 2:00 pm Driver: Bill PUBLIC HEARING -TOWN COUNCIL CHAMBERS 3:00 pm Gonzalez-Brito Residence DRB03-0389 Warren Final review of a proposed retaining wall 2339 Chamonix Lane/Lot 11, Block A-Vail Das Schone 1St Fifing Applicant: Carlos Gonzalez-Brito MOTION: SECOND: VOTE: CONDITIONS: 2. Owens Residence DRB03-0402 Warren Final review of a proposed addition 4770 Bighorn Road Unit C-4Nail Racquet Club Townhomes Applicant: Christopher Owens MOTION: SECOND: VOTE: CONDITIONS: 3. Hurtado Residence DRB03-0414 Elisabeth Final review of proposed re-roof 5128 Gore Circle/Lot 4, Block 3, Bighorn Subdivision 5th Addition Applicant: Piper Architecture MOTION: SECOND: VOTE: CONDITIONS: .+ 1 TOWN OF PAIL 4. West Vail Lodge DRB03-0152 Matt Final review of proposed addition and exterior alterations 221 i North Frontage Road/Lot 1, Vail Das Schone 3`d Filing Applicant: Raj Bhakta MOTION: SECOND: VOTE: CONDITIONS: 5. Numerof Residence (& Neighbors) DRB03-0425 Matt Wildfire mitigation and defensible spaces (tree removals) 4410 - 4419 Columbine Drive/Lots 1-6 Bighorn Subdivision Addition 3 Applicant: TOV, USFS, Paul Numerof & Neighbors MOTION: SECOND: VOTE: CONDITIONS: 6. Baltz Residence DRB03-0331 Warren Final review of a new single-family home 3786 Lupine Drive/Lot 6, Bighorn 2"d Addition Applicant: Baltz Family Partners II, LLC, represented by Ruggles and Associates MOTION: SECOND: VOTE: CONDITIONS: 7. La Bottega DRB03-0310 Warren Final review of a proposed exterior modification and lighting plan 100 E, Meadow Dr. /Lot M, Block 5D, Vail Village First Filing Applicant: Stephen Virion MOTION: SECOND: VOTE: CONDITIONS: 8. Wood Residence (formerly Fermanis residence) DRB03-0348 Bill Final review of proposed changes to approved plans 11396 Sandstone Drive/Lot 4, Re-sub. Lot A2, Block A, Lion's Ridge Subdivision Applicant: Glen Wood, represented by Steven James Riden MOTION: SECOND: VOTE: CONDITIONS: 9. Deighan residence DRB03-0433 Bill Final review of proposed windows 1163 Cabin Circle/Lot 1, Block 2, Vail Valley 1St Filing Applicant: Kevin Deighan, represented by Gwathmey Pratt Schultz Architects MOTION: SECOND: VOTE: CONDITIONS: 2 .' 10. Kendrick residence DRB03-0049 Bill Conceptual review of proposed addition 2975 Manns Ranch Road/Lot 6, Block 1, Vail Village 13th Filing Applicant: Clinton J. Kendrick, represented by Segerberg Mayhew Architects MOTION: SECOND: VOTE: CONDITIONS: 11. Town of Vail Streetscape Master Plan DRB03-0434 Warren Conceptual reviewed of proposed materials Vail Village and East and West Meadow Drive Applicant: Town of Vail, represented by Todd Oppenheimer MOTION: SECOND: VOTE: CONDITIONS: 12. Solar Vail Condominiums DRB03-0353 Warren Conceptual review of proposed cellular antenna replacement 501 North Frontage Road West/Lot 8, Block 2, Vail Potato Patch 2"d Filing Applicant: Sonnenalp Properties, represented by Glen Klocke of Nextel TABLED TO 10/15/03 13. Venners Residence DRB03-0350 Elisabeth Final review of a proposed re-roof 4196 Columbine Drive/Lot 20-6, Bighorn Subdivision Applicant: Miramonti Architects PC WITHDRAWN 14. Village Center DRB03-0137 Matt Final review of proposed sign program 122 E. Meadow Drive, Part of Tracts C & A, Part of Lot K, Vail Village 1St Applicant: ' Fred Hibberd, represented by Snowdon Hopkins Architects WITHDRAWN 15. Vail East Condos DRB03-0333 Matt Final review of a proposed nine-car garage addition 4132 Spruce Way/Lot A, Bighorn Subdivision 3~d Addition Applicant: Vail East Condo Association WITHDRAWN Staff Approvals Batas Residence DRB03-0404 Bill Change to approved plans (i.e. construction of bay window only) 50476 Ute Lane/Lot 33, Vail Meadows 1St Filing Applicant: Robert Batas Holiday House DR603-0385 Elisabeth Replacement of fiberglass hot tub with larger, stainless steel hot tub 9 Vail Road/Lot B, Vail Village 2"d Filing Applicant: Ptarmigan Management ti Venners Residence DRB03-0379 Elisabeth Exterior changes involving landscaping; minor addition to entryway 4196 Columbine Drive/Lot 20-6, Bighorn Subdivision Applicant: Miramonti Architect Cook Residence DRB03-0412 Warren Rebuild an existing porch and install landscaping lighting 1012 Eagles Nest Circle/Lot 2, Block 6, Vail Village Filing 7 Applicant: Sam Cook, represented by Fritzlen Pierce Architects Swanberg Residence DRB03-0408 Bill Interior conversion (46 sq.ft.) 5040 Main Gore Place, Unit 63/Sundial Subdivision Applicant: Sean Richie Schmidt Residence DRB03-0415 Elisabeth Re-roof, same-for-same cedar shake 401 Beaver Dam Circle/Lot2, Block 4, Vail Village 3`d Filing Applicant: TCC Contractors Lapin Residence DRB03-0416 Elisabeth Re-roof, same-for-same cedar shake 232 West Meadow Drive/Lot 7, Block 2, Vail Village 2"d Filing Applicant: Horizon Roofing Stempler Residence DRB03-0410 Elisabeth Exterior changes; addition of walkway, enclosed boiler installation 1044 Homestake Circle/Lot 4, Block 6, Vail Village 7th Filing Applicant: Wing Construction Middle Creek Affordable Housing DR603-0381 George Construction Sign 129 N. Frontage Road/Mountain Bell Site Applicant: Shaw Construction Hammons Residence DRB03-0419 Warren New hot tub on existing deck 2673 Cortina Lane/Lot 6, Block A, Vail Ridge Applicant: Tim Hammons Hintz Residence DRB03-0357 Warren Addition to an existing house and minor exterior alterations 3130 Booth Creek Drive/Lot 10, Block 3, Vail Village 11th Filing Applicant: Bernd Hintz Vickers Residence DRB03-0418 Elisabeth Re-roof and re-paint, same-for-same 2425 Bald Mountain Road/Lot 21, Block 2, Vail Village 13th Filing Applicant: Michael P. Vickers Clarke Residence DRB030388 Elisabeth Exterior changes: French door replacement and addition of gas fireplace 4 400 East Meadow DriveNail Village 1St Filing Applicant: Susan J. Clarke Oschner Residence DRB03-0405 Elisabeth Re-roof, same-for-same cedar shakes 4879 Meadow Drive/Lot 15, Block 5, Bighorn Subdivision 5th Addition Applicant: Ronald Oschner Cisneros Residence DRB03-0411 Warren Addition to an existing house 2905 Booth Creek Drive/Lot 1, Block 2, Vail Village 11th Filing Applicant: Gerry Cisneros, represented by Fritzlen Pierce Architects Gazioglu Residence DRB03-0324 Matt Change to approved plans 3120 Booth Falls Court/Lot 7, Block 1, Vail Village 12th Filing Applicant: Halide Gazioglu, represented by Shepherd Resources Booth Creek Townhouses DRB03-0407 Matt Replacement of rotted retaining wall 2875 Manns Ranch Road/Lot 1, Block 1, Vail Village 13th Filing Applicant: Susan Rychel Treakle Residence DRB03-0374 Matt Window replacement & floodlight removal 5064 Main Gore Drive South/Lot 4, Block 18, Vail Meadows 1St Filing Applicant: Robert & Christine Treakle Michaux Residence DRB03-0376 Matt Deck addition /new handrails to match master plan 600 Vail Valley Drive/Lot B, Block F1, Northwoods Condominiums Applicant: Richard Michaux, represented by NEDBO Construction Pytka Residence DRB03-0390 Matt Deck enclosure 600 Vail Valley Drive/Lot B, Block F1, Northwoods Condominiums Applicant: Joseph Pytka, represented by Beth Levine Pitkin Residence DRB03-0367 Matt Deck Enclosure 600 Vail Valley Drive/Lot B, Block F1, Northwoods Condominiums Applicant: Edward Pitkin, represented by Beth Levine 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. 5 PLANNING AND ENVIRONMENTAL COMMISSION PUBLIC MEETING Monday, September 22, 2003 PROJECT ORIENTATION / -Community Development Dept. PUBLIC WELCOME 12:00 pm MEMBERS PRESENT Site Visits: MEMBERS ABSENT 1. Pirateship Park- Tract E, Vail Village 5th 2. Lionshead Tennis Court Site- 615 West Forest Road 3. D'Orisio - 4444 Streamside Circle Driver: George ~o _. NOTE: If the PEC hearing extends until 6:00 p.m., the board may break for dinner from 6:00 - 6:30 Public Hearino -Town Council Chambers 2:00 pm A request for a final review of an exterior alteration or modification, pursuant to Section 12-7B-7, Exterior Alterations or Modifications, Vail Town Code, to allow for an addition to the Lodge at Vail; a request for a variance from Section 12-21-10, Development Restricted, Vail Town Code, pursuant to Chapter 17, Variances, Zoning Regulations, to allow for the construction of multiple-family dwelling units on slopes in excess of 40%; and a request for the establishment of an approved development plan to facilitate the construction of Vail's Front Door, and setting forth details in regard thereto. (A more complete metes and bounds legal description is available at the Town of Vail Community Development Department) Applicant: Vail Resorts, represented by Jay Peterson Planner: George Ruther Motion: Doug C Second: Vote: 4-0-0 2. A request for a conditional use permit pursuant to Section 12-7A-3, Vail Town Code; a major exterior alteration pursuant to 12-7A-12, Vail Town Code, to allow for modifications to the existing fractional fee club and a restaurant addition; and a request for a building height variance pursuant to Chapter 17, Vail Town Code, to allow for dormer additions, at the Vail Mountain Lodge and Spa, located at 352 E. Meadow Drive / Tract B, Vail Village 1St Filing. Applicant: Vail Mountain Lodge LLC, represented by Braun Associates, Inc. Planner: George Ruther Motion: Second: Vote: TABLED TO OCTOBER 13, 2003 ~. It TOWN OF YpIL 3. A request for a floodplain modification pursuant to Chapter 14-6, Grading Standards, Vail Town Code, to allow for the construction of new bridge abutments in the Mill Creek floodplain at Pirate Ship Park located at Tract E, Vail Village 5~' Filing Applicant: Vail Resorts, represented by Town of Vail Planner: Bill Gibson Motion: Second: Vote: 4. A request for a major subdivision pursuant to Chapter 13-3, Major Subdivision, Vail Town Code, to allow for the platting of four lots at the Lionshead tennis court site and a rezoning pursuant to Section 12-3-7, Administration, Vail Town Code, from Agriculture and Open Space zone district, Vail Town Code, to Primary/Secondary Two-Family Residential zone district, Vail Town Code, to allow for the construction of single-family homes on the four proposed lots, located at 615 West Forest Road/Unplatted (Amore complete metes and bounds legal description is available at the Town of Vail Community Development Department) Applicant: Vail Resorts, represented by Braun Associates, Inc. Planner: Warren Campbell Motion: Second: Vote: 5. A request for a variance from Section 12-14-17, Setback from Watercourse, Vail Town Code, to allow for a residential addition in the Gore Creek setback, located at 4444 Streamside Circle /Lot 11, Bighorn 4th Addition. Applicant: Thomas O'Dorisio, represented by John Perkins. Planner: Warren Campbell Motion: Second: Vote: 6. A request for a recommendation to the Vail Town Council for an amendment to the Town of Vail Streetscape Master Ptan, and setting forth details in regard thereto. Applicant: Town of Vail, represented by Greg Hall Planner: Warren Campbell Motion: Second: Vote: 7. A request for major exterior alteration pursuant to Section 12-7H-7, Vail Town Code, to .allow for the construction of new dwelling units and accommodation units at Vail Marriott Mountain Resort, located at 715 West Lionshead Circle / Lots C and D, Morcus Subdivision, and Lot 7, Marriott Subdivision Applicant: Mountain Marriott Vail Resort, represented by Gwathmey, Pratt, Schultz Architects Planner: George Ruther Motion: Second: Vote: TABLED TO OCTOBER 13, 2003 8. Approval of September 8th meeting minutes 9. Information Update: • GRFA • Four Seasons 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. Community Development Department Published September 19, 2003, in the Vail Daily. MEMORANDUM TO: Town Council FROM: Community Development Department DATE: October 7, 2003 SUBJECT: Proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two- Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) districts, and setting forth details in regard thereto. Applicant: Vicki Pearson, et.al. Planner: Bill Gibson DESCRIPTION OF THE REQUEST Work session to discuss proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two-Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) zone districts, and setting forth details in regard thereto. II. BACKGROUND On September 8, 2003, the Town of Vail Planning and Environmental Commission forwarded a recommendation of approval for .proposed text amendments to the gross residential floor area (GRFA) regulations for Vail's residential zone districts (see Attachments B, C, and D). III. STAFF RECOMMENDATION Listen to a staff presentation briefly summarizing the applicant's proposal and the Planning and Environmental Commission's recommendation. Provide staff with specific direction on a review schedule for these proposed text amendments (see Attachment A). IV. ATTACHMENTS Attachment A: Proposed review schedule Attachment B: Summary list of PEC recommended text amendments Attachment C: September 8, 2003, PEC meeting results (in part) Attachment D: September 8, 2003, staff memorandum to PEC Attachment: A w PROPOSED GRFA TEXT AMENDMENT REVIEW SCHEDULE October 7, 2003 Afternoon Work Session: Topic: brief overview of application, PEC's recommendation, and review schedule Action: listen to a staff presentation and adopt a review schedule December 2, 2003 Afternoon Work Session: Topic: detailed overview of current GRFA policies Action: listen to a staff presentation December 16, 2003 Afternoon Work Session: Topic: detailed overview of amendment alternatives and PEC's recommendation Action: listen to a staff presentation Evening Meeting: Topic: brief overview of PEC's recommendation Action: listen to a staff presentation and provide policy direction for an ordinance January 6, 2003 Afternoon Work Session: Topic: detailed overview of a proposed ordinance Action: listen to a staff presentation Evening Meeting: Topic: brief overview of a proposed ordinance Action: first reading of an ordinance January 20, 2003 Afternoon Work Session: Topic: detailed overview of a proposed (i.e. revised) ordinance Action: listen to a staff presentation Evening Meeting: Topic: brief overview of a proposed ordinance Action: second reading of an ordinance Attachment: B SUMMARY OF THE PLANNING AND ENVIRONMENTAL COMMISSION'S PROPOSED GRFA TEXT AMENDMENTS • "Interior Conversion" GRFA bonus repealed • "250 Ordinance" GRFA bonus repealed • GRFA renamed to FAR (Floor Area Ratio) • FAR measured from the outside of the exterior walls • All areas of a structure are calculated as floor area except for specific deductions (i.e. basements, attics, garages, etc.) • Vaulted spaces included as floor area • Airlocks included as floor area • Stairs included as floor area on every level in multiple-family structures • GRFA formulas converted to FAR type formulas • Definition of "Site Coverage" clarified • Standard parking requirements increased • Amnesty for previous illegal construction brought into compliance with new regulations Attachment: C PLANNING AND ENVIRONMENTAL COMMISSION PUBLIC MEETING Monday, September 8, 2003 PROJECT ORIENTATION / -Community Development Dept. PUBLIC WELCOME 12:00 pm MEMBERS PRESENT Gary Hartmann Doug Cahill John Schofield Erickson Shirley George Lamb Rollie Kjesbo MEMBERS ABSENT Chas Bernhardt 1. Reske Residence 2319 Chamonix Rd 2. Vista Bahn Building 333 Hanson Ranch Road 3. Gerald R. Ford Park 580 South Frontage Road East/Ford Park 4. Gazioglu Residence 3120 Booth Fa1is Court/ Driver: Matt ~o NOTE: If the PEC hearing extends until 6:00 p.m., the board may break for dinner from 6:00 - 6:30 Public Hearing -Town Council Chambers 2:00 pm 1. A request for a variance from Section 12-6D-10, Landscaping and Site Development, Vail Town Code, to allow for the construction of a new primary/secondary residence, located at 2319 Chamonix Rd. /Lot 9, Block A, Vail Das Schone Filing 1. Applicant: Brian Reske Planner: Allison Ochs Motion: Gary Hartman Second: Rollie Kjesbo Vote: 6-0-0 Approved with the conditions as provided in the staff memorandum 2. A request for a variance from Section 12-6D-6, Setbacks, Vail Town Code, to allow for -the modification and enlargement of existing deck columns, located at 3120 Booth Falls Court/Lot 7, Block 2, Vail Village 12th Filing. Applicant: Halide Gazioglu, represented by Sheppard Resources Planner: Matt Gennett Motion: Rollie Kjesbo Second: Doug Cahill Vote: 5-0-1 (Lamb abstained) ~, ~i TOWN OF VAII, ~ 7. A request for a recommendation to the Vail Town Council of proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two-Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) districts, and setting forth details in regard thereto. Applicant: Vicki Pearson, et.al. Planner: Bill Gibson Motion: John Schofield Second: Rollie Kjesbo Vote: 6-0-0 Recommending approval of the request, per the staff memorandum, with the following modifications: 1) Page 1 of Attachment A should be amended such that the parking standards are increased to 3.5 spaces for dwelling units with floor area of over 4,000 and less than 5,500 sq. ft., and to 4.5 spaces for dwelling units with more than 5,500 sq. ft. 2) .Page 6 of Attachment A should be amended such that vaulted areas with a ceiling plate height greater than 15 ft. should counted on multiple levels. 3) Gross Residential Floor Area (GRFA) regulations for the residential zone districts shall be repealed and be replaced with Floor Area Ratio (FAR) regulations. 4) An amnesty clause should be adopted in conjunction with the adoption of the Floor Area Ration (FAR) regulations. The amnesty clause should have no time limit, waive Town of Vail application fees, and prevent the creation of non-conforming properties in regard to Floor Area Ratio (FAR). 5) Any loss of development potential currently allowed by the existing Gross Residential Floor Area (GRFA) regulations that is caused by the adoption of the Floor Area Ratio (FAR) regulations shall be considered justification for a variance from the Floor Area Ration (FAR) regulations. 8. A request for a variance from Section 12-14-17, Setback from Watercourse, Vail Town Code, to allow for a residential addition in the Gore Creek setback, located at 4444 Streamside Circle /Lot 11, Bighorn 4th Addition. Applicant: Thomas O'Dorisio, represented by John Perkins. Planner: Allison Ochs Motion: Rollie Kjesbo Second: George Lamb Vote: 6-0-0 Tabled until September 22, 2003 9. A request for a variance from Section 12-7B-15, Site Coverage, Vail Town Code, to allow for awnings over existing second floor deck, located at the Vista Bahn Building, 333 Hanson Ranch Road/Lot C, Block 2, Vail Village 1St Filing. Applicant: Remonov & Company, Inc., represented by Knight Planning Services Attachment: D MEMORANDUM TO: Planning and Environmental Commission FROM: Department of Community Development DATE: September 8, 2003 SUBJECT: A request for a recommendation to the Vail Town Council of proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two-Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) zone districts, and setting forth details in regard thereto. Applicant: Vicki Pearson, et.al. Planner: Bill Gibson I. SUMMARY The applicants, Vicki Pearson, et.al., are requesting text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the existing Gross Residential Floor Area (GRFA) regulations within Vail's residential zone districts. Based upon staffs review of the criteria in Section VI of this memorandum, the Community Development Department recommends that the Planning and Environmental Commission forward a recommendation of approval to the Town Council of the proposed text amendments, subject to the findings noted in Section VI of this memorandum. II. DESCRIPTION OF THE REQUEST The applicants, Vicki Pearson, et.al., are proposing text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two-Family Residential (R), Two-Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) districts. Per the Planning and Environmental Commission's direction, staff has drafted proposed text amendments (Attachment A) to modify the GRFA regulations for the above listed zone districts as follows: • "Interior Conversion" bonus repealed • "250 Ordinance" bonus repealed • GRFA renamed to FAR (Floor Area Ratio) • FAR measured from the outside of the exterior walls • All areas of a structure are calculated as floor area except for specific deductions (i.e. basements, attics, garages, etc.) • Vaulted spaces included as floor area • Airlocks included as floor area • Stairs included as floor area on every level in multiple-family structures • GRFA formulas converted to FAR type formulas • Definition of "Site Coverage" clarified • Parking requirements increased Staff has provided a GRFA analysis of sample existing homes in the Town of Vail (Attachment B). This research includes information regarding the allowed and constructed GRFA of existing homes located in various zone districts. In addition, the research provides information regarding total basement area, vaulted space, and exterior wall area. Based on this analysis, staff developed a proposed alternative FAR formula for the zone districts listed above (Attachments C and D). III. BACKGROUND The Planning and Environmental Commission reviewed this request at its October 14, 2002, January 27, March 24, June 9, June 23, July 14, and August 11, 2003, public hearings. Additionally, staff facilitated focus group discussions addressing these proposed text amendments on May 22 and June 5, 2003. IV. DISCUSSION TOPICS What has the PEC identified as positives and negatives of the current GRFA regulations? Positives: • Current GRFA regulations are an effective tool in regulating the density and intensity of residential uses. • Current GRFA regulations are an effective tool in regulating the physical bulk and mass of residential buildings. • Current GRFA regulations are a known and accepted quantifier for development potential in Vail. • Current GRFA regulations encourage creative architectural design. Ne atq Ives: • Current GRFA regulations are complex and cumbersome. • Current GRFA regulations have loop holes that allow unnecessary bulk and mass resulting in buildings that appear larger than the floor area numbers reflect. • Current GRFA regulations create inequalities between neighbors in the same zone district. • Current GRFA regulations have inadvertently encouraged illegal construction. • Current GRFA regulations .have inadvertently encouraged the illegal elimination of employee housing units. • Current GRFA regulations create additional time and financial costs for homeowners and builders, and are time consuming for the Town to administer. • Current GRFA regulations do not encourage the construction of below grade spaces. 2 What GRFA reform principles has the PEC accepted? • GRFA reforms should be simpler to understand, implement, and enforce. • GRFA reforms should be equitable. • GRFA reforms should address related Town zoning regulations. • GRFA reforms should not negatively impact property sales or values. • Government should not regulate the interior use of homes. • GRFA reforms should improve compliance with building and fire codes. • GRFA reforms should not dramatically increase development potential. Which other Town regulations may be affected by amendments to the current GRFA regulations? • Title 12, Zoning Regulations, Vail Town Code Chapter 2: Definitions Chapter 6: Residential Districts Chapter 7: Commercial and Business Districts Chapter 8: Open Space and Recreation Districts Chapter 9: Special and Miscellaneous Districts Chapter 10: Off-Street Parking and Loading Chapter 11: Design Review Chapter 13: Employee Housing Chapter 14: Supplemental Regulations Chapter 15: Gross Residential Floor Area (GRFA) Chapter 16: Conditional Use Permits Chapter 18: Nonconforming Sites, Uses, Structures and Site Improvements • Title 14, Development Standards Handbook, Vail Town Code • Special Development Districts • Subdivision plats containing notes and restrictions related to GRFA What GRFA reform alternatives has the PEC considered? No changes to the current GRFA regulations Given the negatives of the existing GRFA regulations, the PEC has determined that the current GRFA regulations are in need of reform. Eliminate GRFA in whole The PEC has determined that repealing all current GRFA regulations is not a viable alternative to address the negatives of the Town's current zoning regulations. The PEC has determined that maintaining some form of floor area regulation serves a positive public purpose. Replace GRFA with a volumetric measurement system The PEC has determined that theoretically a volumetric measurement system more effectively regulates bulk and mass than a floor area measurement system; however, in practice a volumetric measurement system will be too complex and impractical to administer. 3 Replace GRFA with a floor area ratio (FAR~ystem The PEC has determined that modifying the current GRFA regulations to be a simpler floor area ratio (FAR) type system is the most appropriate means of addressing the negatives of the current regulations. Should GRFA be renamed? While renaming the amended GRFA regulations to FAR, or some other name, may convey a message to the public that these regulations have changed and are different than today's GRFA, staff is apprehensive about eliminating the term GRFA. The term GRFA is cross-referenced in numerous chapters of the Town's zoning regulations, Town's development standards handbook, numerous Special Development District provisions, and various subdivision plats. While it is possible to re-codify these other Town regulations, it may be a complex and time consuming process. How should GRFA be defined? Deductions The PEC has determined that all horizontal areas of a structure shall be counted as GRFA, and then certain areas shall be deducted from the GRFA calculation. Basements The PEC has determined that below grade portions of basements should be deducted from GRFA calculations. Language addressing this issue has been incorporated into the proposed text amendments (Attachment A). Vaulted spaces The PEC has determined that vaulted or open to below spaces should be counted as GRFA to more accurately measure bulk and mass. Language addressing this issue has been incorporated into the proposed text amendments (Attachment A). Crawlspaces The PEC has determined that crawlspaces should also be deducted from the GRFA calculations. Language addressing this issue has been incorporated into the proposed text amendments (Attachment A). Other Deductions The PEC has determined that other areas previously deducted from GRFA calculations such as garages, attics, etc., with the exception of vaulted spaces, should continue to be deducted in a similar manner. 4 Inside or outside of exterior walls The PEC has determined that the current method of measuring GRFA at the inside face of the exterior walls should be revised to measure GRFA from the outside face or the exterior walls to more accurately calculate building bulk and mass. How much GRFA should be allowed? 250 Ordinance and Interior Conversions The PEC has determined that the "250 Ordinance" and the "Interior Conversion" GRFA bonuses should be repealed in their entirety due to the inequalities of property rights that are created by these regulations. In an effort to afford these bonuses to all properties and to not create non- conformities, the proposed GRFA calculation formulas have been increased over the current calculations to compensate for the elimination of these bonuses. Formulas The PEC has determined the allowable GRFA calculations and bonuses should be consolidated into one formula. The proposed GRFA formulas (Attachments C and D) have be calibrated in the following manner: • Current allowable GRFA square footage, plus • "425" or "225" GRFA bonuses, plus • 250 sq. ft. per allowable dwelling unit to compensate for the repeal of the "250 Ordinance", plus • 15% square footage increase to compensate for the counting of vaulted spaces as GRFA and to address past "Interior Conversions" of vaulted space GRFA bonuses, plus • 10% square footage increase to compensate for exterior walls counting as GRFA The proposed GRFA formulas have not been calibrated to compensate for past "Interior Conversions" of crawlspaces, as the proposed text amendments allow for the deduction of below grade basement areas from the GRFA calculations. What if the GRFA amendments create non-conforming properties? The PEC has determined that any amendment to the GRFA regulations should create as little non-conformity as possible. However, should any property become non-conforming as a result of these text amendments, the provisions of Chapter 12-18, NONCONFORMING SITES, USES, STRUCTURES AND SITE IMPROVEMENTS, Vail Town Code, shall apply. The provisions of Chapter allow a property owner to continue and maintain the non-conforming use of their property: 5 12-18-2: CONTINUANCE: Nonconforming sites, uses, structures, and site improvements lawfully established prior to the effective date hereof may continue, subject to the limitations prescribed in this chapter. Sites, uses, structures, and site improvements lawfully authorized by permits or regulations existing prior to the effective date hereof may continue, subject to such limitations as prescribed by such permits or regulations. 12-18-6: MAINTENANCE AND REPAIRS: Nonconforming uses, structures, and site improvements may be maintained and repaired as necessary for convenient, safe, or efficient operation or use; provided, that no such maintenance or repair shall increase the discrepancy between the use, structure, or site improvement and the development standards prescribed by this title. What other Town regulations should be amended in association with amendments to the current GRFA regulations? Employee Housing The proposed text amendments increase the GRFA bonus for Type I and Type II EHUs from 500 sq. ft. to 550 sq. ft. to compensate for exterior walls being counted as GRFA. The Vail Local Housing Authority (VLHA) has indicated that the proposed amendments to the GRFA regulations will not have a significant impact on employee housing. The Housing Authority is currently reviewing the Town's employee housing policies on a more global scale, beyond the scope of GRFA. Design Guidelines The Town of Vail Design Review Board (DRB) has expressed its concerns about the reform alternative of eliminating GRFA in its entirety. The DRB has indicated that if some form of floor area measurement regulation is maintained, they do not perceive a need for additions! design guidelines and standards. Parking The PEC has determined that the current off-street parking requirements need to be increased for larger residential dwellings. Language addressing this issue has been incorporated into the proposed text amendments (Attachment A). Amnesty Provisions Staff is currently working with the Town Attorney to draft amnesty provisions to accompany the proposed amendments to the GRFA regulations. These provisions will allow property owners with illegally constructed GRFA to apply, without retribution, for design review and building permit approval in accordance with the amended GRFA regulations. 6 V. APPLICABLE PLANNING DOCUMENTS Section 12-3-7-C: ADMINISTRATION AND ENFORCEMENT, AMENDMENT 2. Prescribed Regulations Amendment: a. Factors, Enumerated: Before acting on an application for an amendment to the regulations prescribed in this title, the planning and environmental commission and town council shall consider the following factors with respect to the requested text amendment.• (1) The extent to which the text amendment furthers the general and specific purposes of the zoning regulations; and (2) The extent to which the text amendment would better implement and better achieve the applicable elements of the adopted goals, objectives, and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and (3) The extent to which the text amendment demonstrates how conditions have substantially changed since the adoption of the subject regulation and how the existing regulation is no longer appropriate or is inapplicable; and (4) The extent to which the text amendment provides a harmonious, convenient, workable relationship among land use regulations consistent with municipal development objectives; and (5) Such other factors and criteria the commission and/or .council deem applicable to the proposed text amendment. b. Necessary Findings: Before recommending and/or granting an approval of an application for a text amendment the planning and environmental commission and the town council shall make the following findings with respect to the requested amendment: (1) That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and (2) That the amendment furthers the general and specific purposes of the zoning regulations; and (3} That the amendment promotes the health, safety, morals, and general welfare of the town and promotes the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality. 7 VI. CRITERIA AND FINDINGS The review criteria and factors for consideration for a request of a text amendment are established in accordance with the provisions of Chapter 12-3, Vail Town Code. A. Consideration of Factors Re aq rdin_g the Text Amendment: 1. The extent to which the text amendment furthers the general and specific purposes of the Zoning Regulations; and Staff believes that the proposed text amendments further the general and specific purposes of the zoning regulations. 2. The extent to which the text amendment would better implement and better achieve the applicable elements of the adopted goals, objectives, and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the Town; and Staff believes that the proposed text amendments will better implement and better achieve the applicable elements of the adopted goals, objectives, and policies outlined in the Vail Comprehensive Plan and are compatible with the development objectives of the Town. 3. The extent to which the text amendment demonstrates how conditions have substantially changed since the adoption of the subject regulation and how the existing regulation is no longer appropriate or is inapplicable; and Staff believes that the Town's existing GRFA regulations are no longer appropriate given the complexities, inequalities, and inefficiencies of the regulations that now exist due to the significant number of text amendments that have occurred over the past several years. 4. The extent to which the text amendment provides a harmonious, convenient, workable relationship among land use regulations consistent with municipal development objectives. Staff believes that the proposed text amendments provide a harmonious, convenient, workable relationship among land use regulations consistent with municipal development objectives. 5. Such other factors and criteria the Commission and/or Council deem applicable to the proposed text amendment. The following is a brief summary of staff's evaluation of the alignment of the proposed amendments with the Planning and Environmental Commission's accepted GRFA reform principles: • GRFA reforms should be simpler to understand, implement, and enforce: YES • GRFA reforms should be equitable: YES • GRFA reforms should address related Town zoning regulations: YES ~' 8 • GRFA reforms should not negatively impact property sales or values: YES • Government should not regulate the interior use of homes: YES • GRFA reforms should improve compliance with building and fire codes: YES • GRFA reforms should not dramatically increase development potential: YES VII. B. The Planning and Environmental Commission shall make the following findings before forwarding a recommendation of approval for of a text amendment: 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the Town; and 2. That the amendment furthers the general and specific purposes of the Zoning Regulations; and 3. That the amendment promotes the health, safety, morals, and genera! welfare of the Town and promotes the coordinated and harmonious development of the Town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the .highest quality. STAFF RECOMMENDATION The Community Development Department recommends that the Planning and Environmental Commission forward a recommendation of approval to the Town Council for the proposed text amendments to Title 12, Zoning Regulations, Vail Town Code, to amend the Gross Residential Floor Area (GRFA) regulations in the Hillside Residential (HR), Single-Family Residential (SFR), Two-Family Residential (R), Two- Family Primary/Secondary Residential (PS), Residential Cluster (RC), Low Density Multiple-Family (LDMF), Medium Density Multiple-Family (MDMF), High Density Multiple-Family (HDMF), and Housing (H) districts. Staffs recommendation is based upon the review of the criteria in Section VI of this memorandum and the evidence and testimony presented, subject to the following findings: 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and is compatible with the development objectives of the Town, and 2. That the amendment furthers the general and specific purposes of the Zoning Regulations; and 3. That the amendment promotes the health, safety, morals, and general welfare of the Town and promotes the coordinated and harmonious development of the Town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality. 9 VIII. ATTACHMENTS A. Proposed text amendments B. Sample GRFA Analysis data C. Estimated Current Floor Area vs. Proposed Floor Area data D. Estimated Current Floor Area vs. Proposed Floor Area charts 10 Attachment: A PROPOSED TEXT AMENDMENTS Chapter 12-2: DEFINITION 12-2-2: DEFINITION AREAWAY: A sunken area affording exterior access, air, and light to a basement door or window. FLOOR AREA (for the purpose of calculating Floor Area Ratio): The total square footage of all residential horizontal areas on all levels of a structure, as measured to the outside face of the sheathing of the exterior walls (i.e., not including exterior wall finishes). Floor area shall include, but not be limited to, elevator shafts and stairwells at each level, lofts, fireplaces, bay windows, mechanical spaces, vents and chases, storage areas, and other similar areas. Garages; attics; vaulted or open to below spaces; basements; crawlspaces; and roofed or covered decks, porches, terraces, or patios shall be included as floor area, except as deducted .elsewhere in this Title. FLOOR AREA RATIO (FAR): The total square footage of all residential horizontal areas on all levels of a structure as a ratio of site area. SITE COVERAGE: The ratio of the total building area of a site to the total area of a site, expressed as a percentage. For the purposes of this definition, "building area of a site" shall mean that portion of a site occupied by any building, carport, Porte cochere, arcade, and covered or roofed walkway constructed at, below, or above grade as measured from the exterior face of the perimeter walls or supporting columns. For the purposes of this definition, a balcony or deck projecting from a higher elevation may extend over a lower balcony, deck or walkway, and in such case the higher balcony or deck shall not be deemed a roof or covering for the lower balcony, deck or walkway. In addition to the above, building area shall also include any portion of a roof overhang, eaves, or covered stair, covered deck, covered porch, covered terrace or covered patio that extends more than four feet (4') from the exterior face of the perimeter building walls or supporting columns. Chapter 12-10: OFF STREET PARKING AND LOADING 12-10-10-B: PARKING AND LOADING REQUIREMENTS (outside commercial cores) Use Parking Requirement (in part) DweNing unit if floor area or gross residential floor area is over 2,000 square feet up to 4,000 square feet: 2.5 spaces per dwelling unit. If floor area or gross residential floor area is over 4,000 square feet: 3.5 spaces per dwelling unit. Chapter 12-13: EMPLOYEE HOUSING 12-13-4: REQUIREMENTS BY EMPLOYEE HOUSING UNIT (EHU) TYPE EHU Zoning districts permitted by right or by conditional use Ownership/ Transference Additional GRFA' Additional Site Coverage /Reduced Landscape Area Garage CrediUStorage Requirement Parking Minimum/ Maximum floor area of an EHU Density Type I Permitted Use: The EHU shall be The EHU is Site Coverage: The site is Allowed 300 sq. ft. Per Chapter 12-10 as a Per zone district. Counts as Primary/Secondary sold or transferred entitled to an entitled to an additional of garage area per dwelling unit. second unit Residential, Two- separately on the additiona! 550 5% of site coverage for enclosed vehicle on property. Family Residential property, sq. ft. floor area EHU. space at a credit. maximum of 2 Previous) ( y Landscaped Area: The parking spaces (All with lots less required deed site is entitled to a (600 sq. ft.). than 14,000 s ft. q~ ) reduction of landscape restriction on both ar a by 5 /o (reduced to units to allow e 55 /o of site area) for All units not sale.) EHU. constructed with a garage shall be required a minimum 75 sq. ft. of storage area in addition to normal closet space. This 75 sq. ft. shall be a credit for storage only. Type II Conditional Use: The EHU shall not The EHU is n/a Allowed 300 sq. ft. Per Chapter 12-10 as a 300 sq. ft. minimum. Allowed as Single-Family be sold or entitled to an of additional garage dwelling unit. 1,200 sq. ft. third unit on Residential, Two- transferred additional 550 area property. Family Residential, separately from sq. ft. GRFA PrimarylSecondary Residential the unit it is associated with.- credit. All units not Does not , Agriculture & Open constructed with a count as Space garage shall be density. required a minimum 75 sq. ft. of storage area in addition to normal closet space. This 75 sq. ft. shall be a credit for storage only. Chapter 12-23: FLOOR AREA RATIO (FAR) CHAPTER 23 FLOOR AREA RATIO (FAR) Section: 12-23-1: Purpose 12-23-2: Definitions 12-23-3: Calculation of Floor Area 12-23-4: Floor Area Ratio (FAR) requirements by zone district 12-23-1: PURPOSE: This chapter is intended to control and limit the size, bulk, and mass of residential structures and the intensity of residential uses within the Town. Floor Area Ratio (FAR) regulation is an effective tool for limiting the size of residential structures and ensuring that residential structures are developed in an environmentally sensitive manner by allowing adequate air and light in residential areas and districts. 12-23-2: DEFINITION A. FLOOR AREA (for the purpose of calculating Floor Area Ratio): The total square footage of all residential horizontal areas on all levels of a structure, as measured to the outside face of the sheathing of the exterior walls (i.e., not including exterior wall finishes). Floor area shall include, but not be limited to, elevator shafts and stairwells at each level, lofts, fireplaces, bay windows, mechanical spaces, vents and chases, storage areas, and other similar areas. Garages; attics; vaulted or open to below spaces; basements; crawlspaces; and roofed or covered decks, porches, terraces, or patios shall be included as floor area, except as deducted elsewhere in this Title. B. FLOOR AREA RATIO (FAR):. The total square footage of all residential horizontal areas on all levels of a structure as a ratio of site area. 12-23-3: CALCULATION OF FLOOR AREA A. Floor Area Calculations and Deductions: 1. In the Hillside Residential, Single-Family Residential, Two-Family Residential, and Two-Family Primary/Secondary Residential Districts, floor area shall be calculated by measuring the total square footage of a structure as set forth in the definition above. Areas as set forth herein shall then be deducted from the total square footage: a. Enclosed garage areas of up to three hundred (300) square feet per vehicle space not exceeding a maximum of two (2) vehicle parking spaces for each allowable dwelling unit permitted by this title. Garage area deducted from floor area is awarded on a "per space basis" and shall be contiguous to a vehicular parking space. Each vehicular parking space shall be designed with direct and unobstructed vehicular access. Alcoves, storage areas, and mechanical areas which are located in a garage and which are twenty five percent (25%) or more 2 open to the garage area may be included in the garage area deduction. Interior walls separating the garage from other areas of a structure may be included in the garage area deduction. b. Attic areas with a ceiling height of five feet (5') or less, as measured from the top side of the structural members of the floor to the underside of the structural members of the roof directly above. c. Attic areas created by construction of a roof with structural truss-type members, provided the trusses are spaced no greater than thirty inches (30") apart. d. Attic areas created by construction of a roof structure utilizing a nontruss system, with spaces greater than five feet (5') in height, if all of the following criteria are met: (1) The area cannot be accessed directly from a habitable area within the same building level; and (2) The area shall have the minimum access required by the building code from the level below (6 square foot opening maximum); and (3) The attic space shall not have a structural floor capable of supporting a "live load" greater than forty (40) pounds per square foot, and the "floor" of the attic space shall not be improved with decking; and (4) It must be demonstrated by the architect that a "truss-type" or similar structural system cannot be utilized as defined in the definition of floor area; and (5) It will be necessary that a structural element (i.e., collar-tie) be utilized when rafters are used for the roof system. In an unusual situation, such as when a bearing ridge system is used, the staff will review the space for compliance with this policy. e. Crawlspaces accessible through an opening not greater than twelve (12) square feet in area, with five feet (5') or less of ceiling height, as measured from the surface of the earth to the underside of structural floor members of the floor/ceiling assembly above. f. Basement areas of a structure as follows: (1) For the lowest level of a structure, the total percentage of exterior wall surfaces unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the floor area calculation. (2) Portions of the exterior walls that are exposed to accommodate areaways necessary to meet the minimum egress requirements of the adopted building code may be considered below grade at the discretion of the Administrator. 3 g. Roofed or covered decks, porches, terraces, patios or similar features or spaces with no more than three (3) exterior walls and a minimum opening of not less than twenty five percent (25%) of the lineal perimeter of the area of said deck, porch, terrace, patio, or similar feature or space, provided the opening is contiguous and fully open from floor to ceiling, with an allowance for a railing of up to forty four inches (44") in height and support posts with a diameter of eighteen inches (18") or less which are spaced no closer than ten feet (10') apart. The space between the posts shall be measured from the outer surface of the post. 2. In the Residential Cluster, Low Density Multiple-Family, Medium Density Multiple-Family, High Density Multiple-Family, and Housing Districts, FAR shall be calculated by measuring the total square footage of a structure as set forth in the definition above. Areas as set forth herein shall then be deducted from the total square footage: a. Enclosed garage areas to accommodate on-site parking requirements. Alcoves, storage areas, and mechanical areas which are located in a garage and which are twenty five percent (25%) or more open to the garage area may be included in the garage area deduction. Interior walls separating the garage from other areas of a structure may be included in the garage area deduction. b. All or part of the following areas, provided such areas are common spaces: (1) Common hallways, stairways, elevator shafts and air locks. (2) Common lobby areas. (3) Common enclosed recreation facilities. (4) Common heating, cooling or ventilation systems, solar rock storage areas, or other mechanical systems. (5) Common closet and storage areas, providing access to such areas is from common hallways only. (6) Meeting and convention facilities. (7) Office space, provided such space is used exclusively for the management and operation of on-site facilities. (8) Floor area to be used in a Type III Employee Housing Unit (EHU) as defined and restricted by Chapter 13 of this Title. c. Attic areas with a ceiling height of five feet (5') or less, as measured from the top side of the structural members of the floor to the underside of the structural members of the roof directly above. d. Attic areas created by construction of a roof with truss-type members, provided the trusses are spaced no greater than thirty inches (30") apart. 4 e. Attic areas created by construction of a roof structure utilizing a nontruss system, with spaces greater than five feet (5') in height, if all of the following criteria are met: (1 } The area cannot be accessed directly from a habitable area within the same building level; and (2) The area shall have the minimum access required by the building code from the level below (6 square foot opening maximum); and (3) The attic space shall not have a structural floor capable of supporting a "live load" greater than forty (40) pounds per square foot, and the "floor" of the attic space cannot not be improved with decking; and (4) It must be demonstrated by the architect that a "truss-type" or similar structural system cannot be utilized as defined in the definition of floor area; and (5) It will be necessary that a structural element (i.e., collar-tie) be utilized when rafters are used for the roof system. In an unusual situation, such as when a bearing ridge system is used, the staff will review the space for compliance with this policy. f. Crawlspaces accessible through an opening not greater than twelve (12) square feet in area, with five feet (5') or less of ceiling height, as measured from the surface of the earth to the underside of structural floor members of the floor/ceiling assembly above. g. Basement areas of a structure as fol-ows: (1) For the lowest level of a structure, the total percentage of exterior wall surfaces unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the floor area calculation. (2) Portions of the exterior walls that are exposed to accommodate areaways necessary to meet the minimum egress requirements of the adopted building code may be considered below grade at the discretion of the Administrator. h. Roofed or covered decks, porches, terraces, patios or similar features or spaces with no more than three (3) exterior walls and a minimum opening of not less than twenty five percent (25%) of the lineal perimeter of the area of said deck, porch, terrace, patio, or similar feature or space, provided the opening is contiguous and fully open from floor to ceiling, with an allowance for a railing of up to forty four inches (44") in height and support posts with a diameter of eighteen inches (18") or less which are spaced no closer than ten feet (10') apart. The space between the posts shall be measured from the outer surface of the post. C. Additional Calculation Provisions: 1. Two-Family Residential (R) and Two-Family Primary/Secondary Residential (P/S) Districts: 5 In the Two-Family Residential (R) and Two-Family Primary/Secondary Residential (P/S) Districts, allowable floor area shall be calculated based on the entire site area. 2. Mixed Use, Two-Family, and Multiple Family Structures: For dwelling units in mixed use, two-family, and multiple family structures, floor area shall be measured for each unit from the center of common interior walls to the outside face of the sheathing of the exterior walls. 3. Vaulted or open to below areas: Vaulted or open to below areas that have a ceiling plate height greater than fourteen feet (14') in height shall be calculated as floor area on multiple levels of the structure. 4. Greenhouse Windows: Greenhouse windows (self-supporting windows) shall not be counted as floor area. "Greenhouse windows" are defined according to the following criteria: a. Distance Above Inside Floor Level: In order for a window to be considered a greenhouse window, a minimum distance of thirty six inches (36") must be provided between the bottom of the window and the floor surface, as measured on the inside face of the building wall. {Floor surface shall not include steps necessary to meet building code egress requirements.) The thirty six inch (36") minimum was chosen because it locates the window too high to be comfortably used as a window seat and because it allows for a typical four foot (4') high greenhouse window to be used in a room with an eight foot (8') ceiling height. b. Projection: No greenhouse window may protrude more than eighteen inches (18") from the exterior surface of the building. This distance allows for adequate relief for appearance purposes, without substantially adding to the mass and bulk of the building. c. Construction Characteristics: All greenhouse windows shall be self-supporting and shall not require special framing or construction methods for support, with the exception that brackets below the window may be allowed provided they die into the wall of the building at a forty five degree (45°) angle. A small roof over the window may also be allowed provided the overhang is limited to four inches (4") beyond the window plane. d. Dimensional Requirement: No greenhouse window shall have a total window surface area greater than forty four (44) square feet. This figure was derived on the assumption that the maximum height of a window, in an average sized room, is four feet (4') and the maximum 6 width for a four foot (4') high self-supporting window is between six feet (6') and eight feet (8') (approximately 32 square feet). Since the window would protrude no more than eighteen inches (18"), the addition of side windows would bring the overall window area to approximately forty four (44) square feet. e. Quantity: Up to two (2) greenhouse windows will be allowed per dwelling unit, however, the forty four (44) square foot size limitation will apply to the combined area of the two (2) windows. f. Site Coverage: Greenhouse windows do not count as site coverage. 12-23-4: FAR REQUIREMENTS BY ZONE DISTRICT: Zone District Floor Area patio (FAR) Hillside Residential (HR) .43 of site area x10,000, plus .25 of site area >10,000 and <_22,000 sq. ft., plus .07 of site area >22,000 sq. ft. Single-Family Residential (SFR) .40 of site area_<10,000 sq. ft., plus .13 of site area >10,000 sq. ft. Two-Family Residential (R) .46 of site area <_10,000 sq. ft., plus .38 of site area >10,000 and x15,000 sq. ft., plus .13 of site area >15,000 and x30,000 sq. ft., plus .06 of site area >30,000 sq. ft. Two-Family Primary/Secondary (P/S) Residential .46 of site area <_10,000 sq. ft., plus .38 of site area >10,000 and _<15,000 sq. ft., plus .13 of site area >15,000 and <_30,000 sq. ft., plus .06 of site area >30,000 sq. ft. Residential Cluster (RC) .40 Low Density Multiple Family (LDMF) .50 Medium Density Multiple-Family (MDMF) .70 High Density Multiple-Family (HDMF) .95 Housing (H) Per Planning and Environmental Commission 7 GRFA ANALYSIS ' Nu b Zona Lot Sixe Date AROwable Conslruebd Allowable Sl Allowable ConstNCled Conalrvctad Below da gra X of Tolal f V l m er Addfesa Le IDescrl Oon 9s P DlstAet (sy. tL) Approved Hazards GRFA GRFA 1s9' ta C Site $Ite Coverage Site Covsnge basamenl ores Con baaemenl Y. o eu led Xo/ Con. Ezterlor •/. of 1eq. K) K1 overage Coverage laq N ) (X~ . story •n a Con. space area GRFA wall area Con. 1aq. N.) (X) . . 1aq. fL) GRFA N1 18 GRFA Isq. K) (aq. f4) GRFA LM 9, BI9 9 Z 2801 Snowbeny Drive Inlermaunletrl PrMfSeC d1,t41 Ma -95 none 6,657 8 228 20X 1 2957 Bemkwer OrNe Lo15, BI6 , eT5 930 472 165 Inlarm°unlaln prkNSec 9,274 A r-97 50' water 2,747 2,78fi 1,037 30X 523 1 18% 548 20Y 1 2585 Davas TraO Lo124, BIB VaR , . 648 20% 260 9% 181 7X R e$ub Prkn/Sec 11,740 Nav-9] 7,260 3,258 2,281 20% 2,281 20X 5fi9 f7Y 1 4 4 7798 Alpine Drive lot 13 Vai VN WeaI . , 24 dqX 631 19% 2Z] 7X 18]3 Liens Ridge Lol d 013 10,810 Jan-98 d5%at 3,028 Z,I70 1,582 75% 1,562 15% 0 O% 1 052 44X 913 3B% 5 L g , lkncrkoe 3b Prtrn/See 37,418 Sep-93 RocklaA 6,470 2 928 7843 20°A 2 25 , 276 11% B 1415 Weatfiaven Lo152 Gten Ly[n Prim/sec , ,1 6% 434 15% 434 75% Bag 30% 220 B% OrNa Sub L l 36 Gl SDD 21,028 A I-90 none 7,036 4,565 5,256 ZS% 6,256 25% del ii°h 2 410 S7X 980 7 1215 Weslhaven Ci o en lyon , 21X 395 B% 785 Polalo Patch Sub Lo122 BI 1 Polalo PfimJSec 18,458 Jan-94 none •6045 5,245 4,864 20Y. 7,810 19% 1,489 28% z,det 47X 865 18% 592 B Or1ve , Paten PM1n/Sae 18,251 Feb-91 Rack/aA 4,925 d,e50 3 650 30% 3 062 17% it% 775 polalc Pel[h Lo119, 811 Polalo , , Bd2 17X 2,106 43% 0 OX 284 8% OrWe Patch 1 prirMSec 21,531 Sep-98 none 5,752 5,892 4,700 20% 7 682 17% 70 392 Beaver Dam Lol d, BI J VaA , 0 OX 0 O% 0 0% 926 6% Ctrcla Valk 7rd PrtrnlSec 25,277 Jun-97 nuns 5,627 5,992 5,055 ZOX d 659 18% 0 71 347 Beaver Dem Lol 1, BI 3 Val , 0% 0 0% 1,981 J3% 89D /2X Road VBa 83rd Prim/sec 27,440 Dec-W none 5,444 4,935 4,688 ZO% 859 2 13% /2 268 Foresl Rob Lm 21, BI 7 VaB , 0 0% 558 11X 177 3% 961 7% ViAage 1st PrknfSec 23,95d Fetr03 none 5,485 5,492 4,790 ZO% 558 3 15X 1] BS Foresl Road Lol 32, 817 Vai VIA , ZIt 4% 1,205 22% eSB 12% 181 J% 1s1 Prkn/Sec 24,067 Mar-95 >30%sl 8,507 5,507 3,610 20% 2,578 I1X 110 1 20% 2 275 41% 781 74 392 MLA Creek Ckcle Lol B, 811 Val , , 14X 128 B% Vatle 1c1 PrkMSec 12,076 Juk00 none 4,069 1,089 2,575 20X 3 568 20X 0 O% 18 1085 qka Glan Lol 5 Spraddk , Z,/N 60% 850 18X 870 14X Creek HR e5,N7 Dec-02 none 6,978 7,016 17,019 20% 5,325 e% 1 265 1e% 811 2 4 7 10 fo50 Homealaka Lol S, BI t VaA , , 0X 8 9 id% 152 8X Ctrcle VBa a Bth primlSec 7,BBD Jan-01 none 7,291 3,291 7,578 20% 453 1 18X 250 e% 17 1157 VaA Vapey Drive lol 12. BI6 Va4 , Bps 27% 829 26% 222 7X VBk a 71n P1kn75ec 16,047 Jan-01 none 1,705 4,831 3,210 20X 3 136 20% 251 5 1B 1397 Vad Valley Onva Lal6, 813 Va0 , X 1,991 4JX 484 tOX 287 8% Vape tat 2FamIR 25,7]9 May-03 none 3,873 5,668 5,147 20X 7 780 /S% 0 0% Lo121D Vail Vapey HSRF, , 957 17% D 0% 285 5% 19 1944 $unbunl SNive MSDF, 3rd PrtrNSac 21,911 Oh-97 PAIZ 5,291 5,283 4,382 20Ys Z,B95 f1% 890 9% 2 450 q6% 1 Z5q 10 /88/$unbural DrNe Lol ZO VaR VaOay MHDF, , , 24% 511 10X 3rd Prkn/See 15,071 Jan-99 MSRF,PAIZ 4,607 5,325 3,014 20% 3,014 20X 1 349 25% 1 838 21 2745 BaM Mm Road Lot 6 BI2 VeA VYI , . , 37% 762 f1% 380 7% 13m LM 3, 812 Vap VW 2FamIR 20,287 Au -91 5,128 4885 4,058 20% 2,770 1d% 897 1B% 1784 JT% 785 18% 240 5% 22 2945 Boolh Creek Dr 111h ZFsmlR 15,316 Ocl-00 none 5,132 1,768 7,08] 20X 2 908 IBX 0 0% lot 7, BI 1 Blphom wel, 50' , 1,957 q1X BJ Z% 284 6% Z] 3Bd7 Lupine Drive weler, av. 1s1 Z FamlR 35,719 Se 00 rock, debris 6,786 8,788 7,144 20% 3 960 71% 770 12% 24 4501 Spruce Way lol /• 613 Bighorn , 2,564 00°1 8D5 17X 501 B% 3rtl RC 72,191 Feb-97 none 7,830 7,698 7,110 25% 2,600 B% 0 0% Bel 1 1 ZS 8998 Meadow DrNe Lo119, 617 Bighorn PrImlSec 22,751 Ocl-98 none ' 5,375 4,929 8,550 20% 7,170 td% 988 19% 201 2 2Ys 46% ,017 551 13X 11% 578 8% 2fi ]827 Lupne Drvk Lot 2, Bighorn 2nd p~/ 9 50 aelback, , 246 5% L 115 V 0 V Sec ,882 2 B,OBB 5,801 5,978 20% 7,862 13X 0 OX 0 OX 0 0 27 1793 Shasta Pkce o , a R Weal 2nd FAm PrhVSe[ 11,600 A r-03 50' felback, good 7,725 3,316 2,320 20% 1 751 15X 0 % 384 7% 38 1417 VaR Vapey Drive Lot 6, 813 Vaq , 0% 1,005 30% 0 0% 214 6X Vape tai Lot Z7, BI2, 2FsmIR 25,739 Me -03 none 5,674 5,868 5,148 20% ],769 15% 700 12% 1,387 12% 275 SX 388 7% 29 IB94 LbnsrMge Loop Lbnukl e3ub 3rtl MDMF 91,637 Au -Bfi >30X abpa 22,162 21,814 47,2]7 45% 13 716 15% ]0 375 MiN Creek Ckcle Lol 17, BI 1, Ve0 Mod debris , 3,800 1B% 5,016 23% 1,800 8% 1,]54 BX Vlpe a isl Lo16 813 VaA PrMlSec 18,517 Mar-B5 lbw 4,851 5,074 3,70] 20% 7,455 19% 1,208 21% 7 206 24% 800 18% 275 5°A ]t 27041erkapur Coun , , IgrtgQ l~nig Prkn/$ee 9,763 Au -97 Mod debrq 2666 033 2 1 953 20X 1 , ]Z 4415 Lot Z, 61 ], Bighorn SOD 818. , , ,418 15% 0 0% 785 38% 324 18% 307 15% Biphom Rob 501 NorN Frontage 3rd Lo17, 812, VaR W/PC 47,512 Jsn-B7 none 9,000 9,000 10,778 25X 4,Id0 q9X 1,240 14X 2,300 Z6X 1155 73% 908 fOX ]] Patalo Pa1ch15ohr Rd VaA HDMF 43,559 Jan-76 MSRF 26,135 1fi,B00 23 955 55% 5 032 it% Lol 5, BIB, Vap , , 2,100 17% 4,200 25% D 0% 756 5% ]d 71 VJplow Road Valey iaVine WlAOVn HDMF 21,083 none 12,619 16,236 11,585 55% 12 8]8 80% ]5 123 Wdbw Plate Summers lodge , 0 0% 0 OX 0 OX 846 5% HDMF 1/,070 none 8,442 8,442 7,738 55% 5 873 42X 0 0% MEDIAN , 0 0% 873 12% 720 9% MEAN AVERA GE) ?DU i9X IOX ]7X i]X 7% i4°R IaX la% 29% 1]X eX D d n 7' 3 N 7 W ESTIMATED CURRENT FLOOR AREA VS. PROPOSED FLOOR AREA la LOT e¢E IN 1 -, x00 )i,eep "" ]i ooo ] M as YOO ept" r:EEO x1 e0e '~ if'i6d' 10,000 - 1'rv)n: _ Le "~i,oYE'. - H.Po' . _ a ~ -_ o,db]' .1 .,,. ".deco ee.pbo FA 5tlw lzs epnuseal dM ak Gs]op s)tzt. o s 6o n e nyp wt e Ga ,: sro t a rob- r FA qus x60 AeMlima w1 ~ p]t].OC ra' ,Se J' 0. 6 _ 1 y 401 p e - a O.ti oa ~, ~.o.11 a 7 Slr; T 0 d cPF ,m ]bot lmeOw CpnwN°ne 1.15%) ] v 43 r r 1])c5 r r ] -. p.3 ; 5, 1 I I roa xte lm. cam.I3nmm w.n was l•aesl m e zf Est ~ ] a~ a r'~ a eJ ] r p p I I: a i 1 ]1 o.tp. 6w I,eo i Pryppeetl ay K uv ole.n In LOr IIlE lay nl I.OOa.Op ]x001 _ ~~ _ ,Et0,p0 a..~ I - ~ 155e I h.~", 1 ~ f~ 1'- ue •Ix. r plm 01 - ,11 ^ F Ip m ns bpnmeg G ~ s spy 0- ~ r a . s A s . ~ e e 1 _ ], a6 n _ ,m ce .. po.6ep Lsop.a. RFA qm xsp Amxwm xpwaeec s s55- 5 s a cu - e ' b p s oe•: t 1e GRFA qm 1506 Mlen°reamersbm l•1lnl 0 aw e A rtr a t ~ I. 0.1 IS r 5y ~ 01 r r,s oa _ le lm dae r. e ~ e e: . - E e r elszs_' s a e lez sc nee.y a~anew.wa pwf x5e. wl. e.np.aa.dno. w.6.reaPlO%I ~ ]Sn]r JAJa.J,.- E,e 1 e s ' e . . , .n Enxnake n„o lw bl ne° a]- 0.a, 4.1 _ O]I. f IxG ]1 I 3 FAgL r°P ° y p ~~ ~ r , Ilm ,> r.xu.op ] r pb J,1 e r] 1 1 : ap: 1 tE] pp _ c 1 f ] el, p o, 1, • , LOT pIZE : _ . , 0 .] sn 1. , 1 x . - Ld C_ L :,. . - a . ex c T~n~aaleegl antl TwoFamr Ua - aLSa. -. -- -._-- _ ]~ -__ - ~I ~ -._ _ __ - _ _ ! X00 e0 00: mrebk GRFA Uem 115 Oerwaeal a ]e ! ]000f a ' ? ~ _- , ~ We GRFA pus x50 AOOlkne ~ s v~ , a.tr e,r65.5f' , L s.e w ' - _ 1 e' 1 - r. 3?Cro V.I, 1 p r 1 ] a oaJ T,000.On 01' 1 aW a!' so 4p 1 i T,1000 1 E bwade GRFA qua 15081merortpmenbna 1.13%1 1]OS Or I.O J,p101 ' r e e ] e p s . . I x5 0 G ~ a000p - Eaamvl a ay lr anewede pro) fep xd ennr a amner wan mal•le%I 1 e av ,n 1 ]] i 1 ' 1 p e . a 01e - 51 C 1,)10.On - 0 lee FAR ro rol aiva Pr 0.01 , ] , t 1 1.•f 1 r ] : E I,110l1 n rb pO f Prepoastl f9 M1 pl I.n0.01' plu I,t1 t 1 ) ,. n• p 1~ 1 I t. I rr 1 ], ~ I ,]s 1.1, . I I p .Of 1 5x0 01 I1. o 01 pwf ab LOT 61LE lav.n 000 x1.001 ] .400 ,e00 a 4p0 S 1~~ E1 coo ]3 noo - , . ~ . b e Op - - Resinenik L ua a 1] _ . - - ~ _` 1100 __ _ -- aaeer oweb F Ipm xx50pnmeal IeOp Or 5,500 OC ~ Ip Ip,FICRFA pwa zso aeon mal6 per coal AI~,a6e ~; e6ola x to a0pa ~o ] ~ 1 p ° . 1 o e ] r O.xe 00. n.{s6x r.wm ml n]. um , ] . ~ ., 1 I. I 3 1 0 1 ,es61 ~ 1 w sasp a- AllOwa0leGRFApxnI15, x50.tlMe,kr Cenvanknf 1.16%1 a 11,500.01 I1a 5p I ] 3.1~ t] la-0x]13 If ~05 ,3 erOC GO IT Or1 if 001 11 651 l4 Ewim ,ee p.n awa qua J]e,][O, Im. Cwnv,la.lenor wall anal•1e•AI el t50 pf' Il.l Ot i ' I1o51] i ~ 5 , . Oat . 4.]S , OI! al 1°l fka a Ov 1 1 , I ~ e~. tIJ/i! 1 19,111 -x p ° pn. L_pana 5v ni llph Fem vReaeanlla IOT eQE Iap.R 000' ~ Ii,100.r• ]1,Oef - a Iv,a a ] 0 Il op0 o0 ~• 1r, , rs r.~, ~ --- e , 1 -- ~ 000001 ,. 1 ~~ - - 11,)05 oo - t1 - t],x0 11,xpp l: 00 ]0,800 - ta.5ec e Ip us xxs OOnmeal e504 - ~ o W 2,ci..04 tzr Ix ~ t] ~ ~' - IdfzFA pwa ]x Aeedom l°per avel Alkwa0le GR ] t ]!0 n ly bI J . ~] 1 i 1 S 0 ; IsW t )~ 0 t3 i. ( 3 1) r- 11x13 ~ 1]15 r GRF Aew Apxn 115, 3501NeMr Cwwvaayl•15%1 0]0 9 1111 51 00 15 55 ] 3 .0[ p f1,I50.f a m . , i , 6 1 f e1500 p 1G J 11 1 Ixi'~ 10.)e 1 ]1,IT6 x!I r30~ 11,]i13f ehe En, p n. ua xte Isp, M1ta <em.,l enernr wan area l•1p%1 tfJ 1>,1 i f]1 I.e1~ 1 I 01:5 x~ .eu n 1m n:. Prepna.a.y n. p ~ . o,oye 50' t e nay r • _ r , . ]0 ] I ]] !],1!x.11 axxe o ed' }1x1].15 e p ee um Gem vMugw]e Famlly PealtlaMlal LOTaIZE Icy. 1 x1.001_- 110 _.._ . . , ±_ ` __ r, r_._ ,,. ., ,.. ~ ~ ,,... 1j x wo ee Je,ceo.pa - ' 1 FA 00m ]]s mmseal I d s _ _- - O IlO ro lpl Ilze ~ 0 - 10, M}r` 11 O]! Out ' 1100000 FA qm zxsaxs0 Ae0lknf (Ie prernl ro l n s ~ ] ,asp +I ]0. is I n0l zi , t 0 d e e 05`' 055 5 ~~ y ~ 13,1]0 sxr`0J z5 x5001 IJ.OW.DO R Axewad.G FA qua 115, x50 ab0ee0r CpnveMem l`ts%1 n Olo klsxe ~ f 3 ' : x s I ' 17 t' x]. 30~ ,. ,. Ee r . ~] ' ss xe e5 m s( Oa a, 0.51 6s6aa' I m lapua ]1e, ,IM. Cen .,a enerbr waPa nal•le3'0 ~ 6 0' I ~ O] l]at ) a ] r le , ] 14 ~' tl , o 31 , O.ex , EslMnaee role le b ze O.la ,a ' , ]z sl. x1,11013 - 5x,1! x1,115 1 Prop°aetl fy n. x1,1000^ l ~I ]],~ aJ ] e s] , r t , .x. .t rr r r, ,1. ,, , r, ., ] 1,fpe 0 t1 Ta. la,tpp.pO i 11 al,eo0.ec ll snowv0l~G PFA LOT 612E 49.1E •i " xL00e It - - a -- - - - - M p 11.000 0,000 a rwlero e anvweble GRFA qua 150 Aee Hoof !taper eve! a cO ].70000 ]; 0 5,150 00 ~ Me '. ] • secs r , 0~ ,] _ t,• .. ~ ] 0 oa; ~ neW 1 0 1 p ' 0000 ~ ue GRFA qua ]5011nletlm Cenverskm 1.15%I it xs5ar xe T M r. ] r r ' I r , 00 a5 Or S sr6 )55000 eeLar i I ar.000. 00 1 Est malen q. n~anew.ek plus xsp,lm. ewnv tanenorwm we•I.le%I I e 1 e1 . S 4 S ..' 3' 1!.550.00 Ot 5 - „ahtlFA,Klero le ,e a Preowe.y xe e ) ap n.... ~ s O.fl , ,t ' a' 1.1+- a F 0 eat an . ._ z 3] p ,, oej .. L1 ae, zoeea= ~ anoe _. n e I , _ u,Jpo a y5sp.eq pe ., a ep: n,eee.eo n n 3 tp n ESTIMATED CURRENT FLOOR AREA VS. PROPOSED FLOOR AREA IIIi~elde Rnitlenda LRT aI}L aq.Pl ,.aoo" xl.pep~. _.. eo_ ueep °ee. ,Lee. ;, o.eel p eeas romeesl so p1~ _l ] _.__ ] 15p.pp espy 1,zsp.ot Fa Mne:sp aedxkm - pal oT•.' !s ar - paf )3spap sat is; tp I3sp.n ' anupmld tlxFA pbs xsa anaenweunrwem 1.15x1 - 0.10 1v 1,]O.xv~ p~. 5 x5p~ 1,n350 1144 50 5.0015E ],1e2'• EsrlmeJed sp.n: allawaple plus }OO, NR poor le.lerler waR ana plexl I,nf.i1 pE.ix Erllmakd rsl'v 1v lol also PraPmetl aqR oat esp is n .}f Iam p]a a. n.n , e LOT EKE kq.R1 ~ Ix nO 160n~ - n.n0~ E^nekeFeG lRh ReHaenlA ( - --- - AIMwIxSNVnwss) LWa,a )eapf ~ I,000.a s O.iS p.}a ekcRFA pm aO aeeawa ~ -s ]espy paa~ aa.oc M MZe 0 0}I p.}t aNVwape GRFA pus 3106 kledw GmveMms ryl!%1 I ~ ) }>.aa 51.50, I,nl.•A. Eanm,reJ eq h:alloweek 05,- 5, 31 a]I - 031"- plus }SO. M Gvnr l apadw wall ma la1pM 1,1]0.x1 I I}].}6 6,iif,}! le bl alea e.N~ e.l) 031- 0.)}~- Prppona a9 R aoo p a.l] OF p .1 1 .11 LOte 6 pl L ](.. Twe FamSr Pmb k tlT i 4v pdm R b dal iE Ise. RI - - 1}000 - - - -- -- 1i.0e0 ~i - - __. _ ___ I 0.000' Fa tMua 1zs npnmell w ( I,In.00 1,epa.ap' 1 ] v oa Leap. v pv Np a a . - .ao W - _ . le GRFA qm no aemkm o z o3x ]spm ~ p31E s lap w pzz. s o]• p i]: p.ze' ~ o~l ~ s 1 i' ' ~: pea FA pw }naNxedw eemsMuna l•tsxl a M G . p.]) { iii li , . p]I s3aa.p a. s Esppor ~ p.n - e •. r e- _ . e - ' 0 1 1o1 lte 3.002.60 So . 0j a.eeeW S 0 p,Dpi e.]]Sa l0 M'.. 0 d 000 1 , 1 0 . Ea14nnad ap R:lnewahla plug ifa, NL Canr.l apaAer waO ana pl0xl Esllmwld calla le bl eta C 0 1 L11 ~ 0 1 ao; 0 p a l 1.6 ~1 16160 ]T I1 ] ]0 ] 1 0 5 ~ 1 y Proposed FAR 1 1 1 pW,}1 11~ pW ]I~ e t l 1~ ~ ) I , l 1' f { PrependapK 00 0 z 1,r1e.0p le 110pn a~ p ~ p r11 I l a p a.n refe eel -' P I b Mus i , 1 1 ~ ,~ ` , . { [, ] A« _ 1 1` r ~ t' LOT 6¢E IaE~R.I i] 1] np IE ne 0oe 1r 11 OO 2 1 H N PnbaniklG AbwaMe GRFA IpWS ile pem~ss0 __ _ 1lz . ]T5 o0 ~ ` _ 1]000 ~ _ __- G0 . 1,]Op.O a 6]OaO~.'.. 1 1 f I O`:' a SW~~ 1 00 ( - , cRFa pm zsp aaeRpne le pet 1we1 M ~ .n i x z p3 pn~ ' xi: G vl axe; l .7zs.op S 1 Ta pl ~ S,:pp.o J s>pp ap s Nw as e r ~ ] 1 _ ~, s o~' A ow s e G0.FApWS}xs ri0.61medw pmvenlom l•n%) N to bl elea 5.]) -1 030 1311.75 055 e 5I1 x] a]I 6 EOp ONS-' x 0 l,ae00 i.~ 010 5f0 ~ .~ l,l] 1 ]i .16. 1 - y1' 0)x~. EsOm'Ned aq R: plowa4k plus x16,]61, hd. Ganv^a anaAvr wan aces l•la•AI dmned nhe t E bl l • I7 ] ;N. 1 e> 0)5 lei. aia. .)] ]f o -x N r n 1 1 v~ 1 s. ' s o a n Prooered FaP 1. { 1 p t a ~ ~ ,> 1 1 11 ~ ]]1 S 1 0 . rn aa.tl.a 1 1 ea 11 e. e r x~ 0 5o 0 a 1p ~~ loj a _{ ,.. i , _. 1 1 1 LOT eaE 1•v e.1 IL upa leen ' v.pp neap 'per }I p r u 4' .~ 1. Luw G.mw le -c.mx. P.l owape GRFnulpus xx5 sunuseal Ia e 5 1 •~ p 0]] 1 6 tom 5 S 15.00 pal - e]Sa' - ~ - T,xr f r N 1 1 J ~ S ~' 4 p p 1 ,: ~ ae GR FApw llsaxsO Aedllbne (p per awal Id s ee r 50.00 ) 1 r 51s o esxs.ao o T sap / e,zi vpp a alt ' 7 0 1 ~ ~ ,150 week GRFA pm us, xsa alnkner enmenbml•ISx) n tIS - ! .] a !Sp al 1' L e ] ,] 5~ 056 Is0]75 se 1 0.1 a Op ~ i ] s t f 3 I 1 as a +pR W'nl iae, NL C.nr,aan.der wan.n.l•Ipxl ~ rels s ,uus rns.f 0 a,}s1.1 01, rn.u 1.50 ro Ipre:.e n i I, 161060 R m mlae F Pre - 1 ~ 11 . L( a Ni ~ 1 a ~ P,e e m e. R ! pq. see ~ i .. 0 Epe 0 rsep pp' r ... o e.e~ ~... ` ..' ,. 1000 . s ~ 1 sal - al 1 0 mnmG R tae lx ton F b p LOT lKE la0. R.1 c00~' ~ 11. vd - ppp it pl le.pep i 000 t}Ae 11 aoo tln~_, :e - ;•- - -- I -~,. (' ml k I a F.IMw :zs y ~ f s ]s p ee p ro Tsx ] ] _ _ l' 1' kl bl sz Ni ~ . a1 .o lxxs o )~ t~ ~ f ~ _ FA pus usenp addnkm (leper aw.l ipo ns.p s 07 a ~ ~ ralb loo GIRF AOw ]is i5o 6Fnwmr GOnuanlam (•1!%) ~ C511 Sl 1 ]76 0~ '> 0.55 1 px ] p 5] 11 ]I Z3 - 0 ~ 1 eb 9zp eel 0d 0 O ^ ] I] • if r, ]] I ale pl•rs ns, }[e lm Oenv.,aa.zadarwW anal•1px1 Iwwaka 1' 150.n [1 e n ; ,)]L1 ! b f t r 1 ~ r r r If ,~ de r 0 a ell ~ `: - 1. S 1a pi ': 1 i 0.1 ] 11 e0 ; e 3p p ..r I• sn 0 ~. is r l r le t 1 pea lon amnv MU W11FaM ee LOT lIZE Iaq 1 6 ~ Ir -- }I - ~ How e6ReA e .nk 1pM a ~ p01 I - W W ~ 000 1, 0 0 ~ - - it - I] 1 allnwaek GRFA plus x50 AOONmns 1x5 pw ewel y 1 0 o 0 a 1 06 1 0 0m a 0 0 - Oe0 1 ~ ." 1 •~ , 0 ~peMMGRFA pw TSOalnledw OVmaNvm l•IS%1 pw, ! 6 e - )i x. ] e 0 0 eye' 1 500. ~ pe 1 EN ~1'. p ' 1 '7) sap ' 1~ ,1 t e aoo ]N _ .~ ;. 1 za ~ 11~. EalNnned.q R~.new.e Iw} xn eenr a.n..kr wwl.n. pleul ep ~ ~ ~ ., I c. 1 . . o s. opi pet T a Enlmped n0e lv lel Nn 0 f]I > OI 1 ] '~ 1I Pmppsep ap.R ~ 150 e0 1 11 1 1116o a0t f1}n ' ~ ~ , _ , r . ~ OE, ~]E ~ H,Iap.pt 16000 1 a),~~ , pf _ n,15 n -_ f aH 11 rc ]L1n p0 1, -, p,ln rs, p0~ !],I eel, I Estimated Current Floor Area vs. Proposed Floor Area Hillside Residential (HR) District 10,000 9,000 8,000 7,000 6,000 v 0 5,000 a 0 0 LL 4,000 3,000 2,000 1, 000 0 OOV OOU 0~V 000 000 000 000 D m 3 ~o v 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 ~`1 '`O• hO• `LO• ~t,'`• q`t'• `L"~• rLb• `Lh• ,y6• ry'~• `LO• ~O• „~O• "~'~• r~`L• ","~• Op,, n~h• "~~°• ^~'~• .~O' ^~O• ~O• ~'~• ~q.• ~^j• ~A• ~4j• b~o• ~1• ~O• ~o~. Op. Lot Size (sq. ft.) - • • -Estimated Current Floor Area -Proposed Floor Area Estimated Current Floor Area vs. Proposed Floor Area Single Family Residential (SFR) District 10, 000 9,000 8, 000 7.000 ~ 6,000 v N d 5,000 0 0 LL 4,000 3,000 2, 000 1,000 0 O°v O°v O°v O°v O°v O°v O°v O°V O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° O°° 00° °O° °O° 00° °O° °O° °O° °O° °O° °O° °O° °O° °O° °O° 00° 00° 000 000 ^° ^^ ^~ ^~ ^~ ^`' ^°~ ^A ~ ^~~ ^°' ti°' ti^' 'LO'' ti`p' tio.' ti`'' ti°' tip' tip' ti°' ~°' ~^' ~ti' ~`~' 3a' ~~'' 3`O' ~1' ~~' 30 • ao • ~^• ~ti• b3• aa• ~h• ~~o• b~ • a~• ~e • oo. Lot Size (sq. ft.) - • • -Estimated Current Floor Area Proposed Floor Area Estimated Current Floor Area vs. Proposed Floor Area Two-Family Residential (R) District and Two-Family Primary/Secondary Residential (P/S) District 10, 000 9,000 8,000 7,000 6,000 v N 5,000 Q 0 4,000 3,000 2,000 1,000 0 00 00 00 00 00 00 00 pO 00 pO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 OO 00 Op 00 QO Op OO Op OO OO OO 00 OO 00 00 00 00 00 ,~O ~O 00 bO 00 60 ,`O 00 00 00 ^O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O ~ ~ ~ ~ ~ ~ ~ ~ ' ~ ' ~ ' `L `L `L`y' `L"~' `Lp`' `Ly' `Lr°• `L~' ~O. `Loj• 00. Oti, 0~,, nj"~• OA• Oh• 00• O'\• 30• 00• ~O• ~~• ~1,• ~g• atx• txC~' ~co• ~'1• bO, bq, yO. Lot Size (sq. ft.) - • • -Estimated Current Floor Area Proposed Floor Area 30,000 25,000 20,000 w a• N 15,000 0 0 10,000 5,000 0 00 00 00 00 00 00 00 00 00 00 00 00 Op 00 ^O ~O „~O ~O 00 60 ,\O 00 00 00 ,~O O Estimated Current Floor Area vs. Proposed Floor Area Residential Cluster (RC) 00 00 00 00 p0 p0 0o p0 00 00 00 00 00 00 00 00 00 00 00 00 00 00 Op 00 OO Op OO Op 00 ~O 00 60 ,~O 00 00 00 ~O O O O O O O O O O O O O O O O O O O O `L `L rL rL rL rL rL "~ nj `~'t'• "~^~• ^~~`• nj~J• ^~~°• nj'`• n~0• ~0• a0` ~~• ~~j.• ~^~• aD•+ ~c7• ~rQ, a'\, fig, ~o~, ~O, Lot Size (sq. ft.) - - • -Estimated Current Floor Area Proposed Floor Area Estimated Current Floor Area vs. Proposed Floor Area Low Density Multiple Family (LDMF) 30,000 25,000 20, 000 o' 15,000 .. 0 0 LL 10,000 5,000 0 o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° o° oo °o °o ,~o ,~o ,~o ~o ~o °o ,~o ~o 00 °o do 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 '` ~ '` ~ ti ~ ti ~ ~ ~ ~ ~ ^ ~ ~ ~ ~ ~ 'L rL 'L`~'' rt"~' gyp„ ~5` ri`°' r11' ~~' ry°'' ~°' g~' ~`~'' fy`3' „gyp,. g`'' grp• ~1. ~g• ~p~, po• ~~, ~rl,, anj, ~~• ~~• ~~, ~'~• ~~, ~o,. ~°. Lot Size (sq. ft.) - • • -Estimated Current Floor Area -Proposed Floor Area Estimated Current Floor Area vs. Proposed Floor Area Medium Density Multiple Family (MDMF) 50,000 45,000 40,000 35,000 w 30,000 o• N 25,000 `o 0 ti 20,000 15,000 10,000 5,000 0 00 00 00 00 00 00 00 00 00 00 00 OO 00 00 O O ~O 00 bO ~O 00 ,10 00 00 00 ~O O O ~4 ~~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ^ ~ ~ ~ ~ ~ ti ti ~ti. ~~. ti 00 00 00 00 pO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 OO Op 00 00 Op ~O 00 40 ,`O 00 00 00 ,~O ,yO ,~O ~O ~O 60 ,\O 00 ~ 00 ^O O O 4 O O O O O O .y rL `L rt, .t, .y "~ ", "~ ^~ "~ 3 "~ O "~ b~ ~ ~~~ ~O. b~" p~' pO' p1 ~ bO, poi. ~O, Lot Size (sq. ft.) - - • -Estimated Current Floor Area Proposed Floor Area Estimated Current Floor Area vs. Proposed Floor Area High Density Multiple Family (HDMF) 50,000 45,000 40,000 35,000 w 30,000 a N d 25,000 a .. 0 0 u. 20,000 15,000 10,000 5,000 0 00 00 00 pO pO 00 pO pO 00 00 00 pO 00 00 00 00 00 00 00 00 00 00 00 OO 00 00 00 OO OO OO OO OO OO OO 00 00 00 00 00 00 00 O O ~O 00 A 00 00 ,~O 00 00 00 ^O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O ~.° '.`` ~. ~. ~. ~ ~ ~. '~ ~ ~ ~ ti ~ `LO', `L'3~ .y~• `Lh~ ry6, ~1. ~w• `Lo'~ gO• ~^, g'L• "~~~ g~• "~`'~~ gro• "~'\• ,~yO• ,50` ao, ~'.- ~ti• ~^~• aa. ~h• a~. ~'~. ~q,. ~a,. ~o. Lot Size (sq. ft.) - • • -Estimated Current Floor Area Proposed Floor Area