HomeMy WebLinkAbout2009-06-02 Agenda and Support Documentation Town Council Evening Session VAIL TOWN COUNCIL
EVENING SESSION AGENDA 07a
7M
VAIL TOWN COUNCIL CHAMBERS
75 S. Frontage Road W.
Vail, CO 81657
6:00 P.M., JUNE 2, 2009
NOTE: Times of items are approximate, subject to change, and cannot
be relied upon to determine at what time Council will consider
an item.
Public comments on work session item may be solicited by the
Town Council
1. ITEM /TOPIC: Citizen Participation. (15 min.)
2. ITEM /TOPIC: Town Manager's Report.
a. Revenue Update. (15 min.)
PRESENTER(S): Stan Zemler
3. ITEM /TOPIC: The Town of Vail applied to be recognized as a Bicycle
Friendly Community, a program established by the League of American
Bicyclists. The town has been recognized with a Bronze award for its
commitment to bicycling. Elizabeth Train with Bikes Belong will present the
award to Mayor Cleveland. (10 min.)
PRESENTER(S): Gregg Barrie / Elizabeth Train, Bikes Belong
4. ITEM /TOPIC: One appointment to the Vail Local Licensing Authority (LLA)
board. (5 min.)
PRESENTER(S): Pam Brandmeyer
ACTION REQUESTED OF COUNCIL: Please interview the Local Licensing
authority (LLA) Applicant to fill one (1) vacancy at the work session and
appoint one person to the LLA board at the evening meeting (two year term,
expires May 31, 2011).
BACKGROUND: All applicants to the LLA must be citizens of the United
States, qualified electors of the Town of Vail, and have resided in the Town
of Vail for not less than two years preceding appointment, and shall have no
direct financial interest in any license to sell alcoholic beverages or any
location having any such license. Duties of the five - member board include
review of all Town of Vail liquor license applications. There is currently one
vacancy on the LLA. The Town received one (1) application for the
vacancy. The Council needs to interview the applicant at the work session
and then make the appointment to the LLA at the evening meeting. The
applicant is Jill Landman Alfond.
5. ITEM /TOPIC: Consent Agenda.
b. Approval of 05.05.09 & 05.19.09 Town Council Minutes. (5 min.)
6. ITEM /TOPIC: Presentation of 2008 audit report. (15 min)
PRESENTER(S): Michael Jenkins from McMahan & Assoc.
ACTION REQUESTED OF COUNCIL: None
BACKGROUND: None
STAFF RECOMMENDATION: None
7. ITEM /TOPIC: Award Roadway Slurry Seal Maintenance Contract. (10
min.)
PRESENTER(S): Tom Kassmel
ACTION REQUESTED OF COUNCIL: Authorize the Town Manager to
enter into an agreement with A -1 Chipseal Company to complete the 2009
Capital Street Maintenance Slurry Seal Project.
BACKGROUND: Staff has received bids from three contractors for the 2009
Capital Street Maintenance Slurry Seal Project, with A -1 Chipseal Company
being the low bidder. The project was publically bid using Bid Bridge, a
reverse auction public bid process. This is the first time Vail has used this
type of reverse auction process, as a result of a presentation made by Bid
Bridge last fall. The process was successful and resulted in a low bid, well
below the budgeted estimate. The following are the three final bids:
A -1 Chipseal Company $137,687.90
Quality Resurfacing Co $139,700.50
Intermountain slurry seal $173,500.00
STAFF RECOMMENDATION: Authorize the Town Manager to enter into an
agreement with A -1 Chipseal Company to complete the 2009 Capital Street
Maintenance Slurry Seal Project, in the amount of $137,687.90.
8.
ITEM /TOPIC: First reading of Ordinance No. 12, Series of 2009, an
ordinance establishing Special Development District No. 41, the Vail Row
Houses, pursuant to Article 12 -9A, Special Development (SDD) District, Vail
Town Code, and setting forth details in regard thereto. (30 min.)
PRESENTER(S): Bill Gibson
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications,
or deny Ordinance No. 12, Series of 2009, on first reading.
BACKGROUND: On May 5, 2009, the Town Council tabled the first reading
of Ordinance No. 12, Series of 2009, to its June 2, 2009, hearing by vote of
5 -1 -0 (Foley opposed).
STAFF RECOMMENDATION: The Planning and Environmental
Commission recommends that the Town Council approves, on first reading,
Ordinance No. 12, Series of 2009, an ordinance establishing Special
Development District No. 41, the Vail Row Houses, pursuant to Article 12 -9A,
Special Development (SDD) District, Vail Town Code, and setting forth
details in regard thereto.
9. ITEM /TOPIC: Ordinance No. 15, Series of 2009 an Ordinance Defining
Electronic Personal Assistive Mobility Device ( "EPAMD "); Establishing
Regulations Regarding the Operation of Such Devices in the Town of Vail;
and Setting Forth Details in Regard Thereto. (15 min.)
PRESENTER(S): Matt Mire
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications,
or deny Ordinance No. 15, Series of 2008, on first reading.
BACKGROUND: See Staff Memorandum.
STAFF RECOMMENDATION: Approve, approve with modifications, or deny
Ordinance No. 15, Series of 2008, on first reading.
10. ITEM /TOPIC: Second reading of Ordinance No. 7, Series 2009, an
ordinance repealing and re- enacting Ordinance No. 5, Series of 2006, and
amending Special Development District No. 39, Crossroads, and setting forth
details in regard thereto. (10 min.)
PRESENTER(S): Warren Campbell / Mauriello Planning Group
ACTION REQUESTED OF COUNCIL: Approve, modify, or deny Ordinance
No. 7, Series of 2009, on second reading.
BACKGROUND: On March 9, 2009, the Town of Vail Planning and
Environmental Commission held a public hearing on a request for a major
amendment to Special Development District No. 39, Crossroads. The
purpose of the major amendment is to increase the maximum allowable
number of dwelling units from 77 to 78 dwelling units.
Upon review of the request, the Planning and Environmental Commission
voted 6 -1 -0 (Pierce opposed) to forward a recommendation of approval of
the request to the Vail Town Council.
On May 19, 2009, the Vail Town Council approved the first reading of
Ordinance No. 7, Series of 2009, by a vote of 4 -3 -0 (Cleveland, Foley, Daly
opposed).
STAFF RECOMMENDATION: The Planning and Environmental
Commisison recommends that the Vail Town Council approves Ordinance
No. 7, Series of 2009, on second reading.
11.
ITEM /TOPIC: Second reading of Ordinance No. 13, Series of 2009, an
ordinance amending the approved development plan for Phase IV of Special
Development District No. 6, Vail Village Inn, pursuant to Article 12- 9A -10,
Amendment Procedures, Vail Town Code, to allow for the conversion of two
existing fractional fee club units to dwelling units, located at 16 Vail Road
(Vail Plaza Hotel) / a portion of Lots M, N, and O, Block 5D, Vail Village Filing
1, and setting forth details in regard thereto. (10 min.)
PRESENTER(S): Bill Gibson
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications,
or deny Ordinance No. 13, Series of 2009, on second reading.
BACKGROUND: On May 19, 2009, the Town Council approved the first
reading of Ordinance No. 13, Series of 2009, with modification by a vote of 4-
3-0 (Cleveland, Foley, and Newbury opposed).
STAFF RECOMMENDATION: The Planning and Environmental
Commission recommends the Town Council approves Ordinance No. 13,
Series of 2009, on second reading.
12. ITEM /TOPIC: Resolution No. 17, Series of 2009, a Resolution Approving an
Intergovernmental Agreement Between the Town of Vail, Colorado and the
State of Colorado Department of Revenue Regarding the Authorization to
Administer Commercial Driver's License Driver Skills Testing; and Setting
Forth Details in Regard Thereto. (5 min.)
PRESENTER(S): Greg Hall / Matt Mire
ACTION REQUESTED OF COUNCIL: Approve the IGA, and authorize the
Town Manager to sign and enter into the IGA with DOR.
BACKGROUND: The Town of Vail has been providing CDL examiner
services for our employees for many years. Without the approval of the state
in the form of the IGA, the town's C.D.L. Examiner licenses will be lost and
we will not be able to train and test our new seasonal drivers next fall. If that
happens, we will need to find another third party tester, most likely in the
Denver area, to test our drivers. The expenses and timing would be very
prohibitive.
STAFF RECOMMENDATION: Approve the IGA, and authorize the Town
Manager to sign and enter into the IGA with the DOR in a form approved by
the Town Attorney.
13. ITEM /TOPIC: Adjournment. (8:25 p.m.)
NOTE UPCOMING MEETING START TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT OT CHANGE)
THE NEXT VAIL TOWN COUNCIL REGULAR EVENING SESSION WILL
BEGIN AT 6:00 P.M., TUESDAY, JUNE 16, IN THE VAIL TOWN COUNCIL
CHAMBERS.
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VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Town Manager's Report.
a. Revenue Update.
PRESENTER(S): Stan Zemler
ATTACHMENTS:
06.02.09 Revenue Highlights
TOWI OF VAIL
REVEI UE HIGHLIGHTS
May 29, 2009
Sales Tax
When all sales tax returns are received for the month of April, collections for the month
are expected to be $1,229,258 up 11.9% from April, 2008 due to the timing of Easter
(April '09 versus March '08). April collections are also up 8.8% from the 2009 budget.
Year -to -date total sales tax collections are down 14.7% from 2008 and down 9.0% from
budget. The ski season so far (Nov — April) is down 12.4% from last ski season.
Inflation as measured by the consumer price index was flat, or -.7% for the month of
April compared to prior.
Use Tax
Use tax collections as of May 27, 2009 total $97,769, a 40% decrease from this time last
year.
Ski Lift Tax
Ski lift tax revenue of $2.4 million through April is down 6.3% from this time last year
and November - April ski season revenue is down 3.3% from the prior ski season.
Construction Permit Fee Revenue
Construction permit revenue through May 27 totals $264,654 down 76% from 2008. The
2009 budget assumed a 62% drop. The decrease in activity from the prior year is due to
both major and non -major redevelopment projects underway in 2008. Major
redevelopment projects so far this year make up 60% of the total. Revenue from non -
major projects is down 50% from 2008.
Real Estate Transfer Tax (RETT)
RETT collections through May 27, 2009, total $854,542. This amount is a 72% decrease
from last year due to both major and non -major redevelopment projects. Eagle County as
of March, 2009 is down 72% in sales dollars and down 62% in the number of sales
transactions.
At this time last year, the town had collected over $3.0 million in RETT from sales of
major redevelopment projects such as Arrabelle, Forest Place, One Willow and the Vail
Plaza. Year -to -date 2009 has seen limited sales from major redevelopment projects and
is down 77 %. Collections not related to major projects year -to -date are 66% down from
this time last year.
Parkin
Year -to -date parking revenue from daily sales of $3.5 million is up 23% from this time
last year. For the ski season (November 2008 through April 2009), parking revenue of
$4.5 million is up 22% from the 2007/2008 season, mainly due to increased pass sales
and pricing.
090602 Revenue Highlights - I -
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VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: The Town of Vail applied to be recognized as a Bicycle Friendly Community, a
program established by the League of American Bicyclists. The town has been recognized
with a Bronze award for its commitment to bicycling. Elizabeth Train with Bikes Belong will
present the award to Mayor Cleveland.
PRESENTER(S): Gregg Barrie / Elizabeth Train, Bikes Belong
ATTACHMENTS:
Award Letter
LEAGUE OF AMERICAN BICYCLISTS
1612 K St_, IOW, Suite 800
Washington. DC 20006 -2850
°g 8 ca„ wEBSFFE www.bicyclefriendlycommunity.org
Bicyclists
EMAIL bikeleague @bikeleague.org
Bicycle Friendly Community PHONE 202.$22.1333
FAx 202.822.1334
May 7, 2009
Gregg Barrie
Town of Vail
1309 Elkhorn Drive
Vail, CO 81657
Dear Gregg:
Thank you again for applying for the Bicycle Friendly Community (BFC) designation.
As you now know, we have determined that Vail should be recognized with a Bronze
award. This award is presented only to communities with remarkable commitments to
bicycling.
Enclosed you will find your award certificate. In the next few weeks, you will also be
receiving your BFC road Sign as well as feedback from the League on what you can do
to make Vail more bicycle - friendly.
Your BFC designation will be due for renewal in March of 2013. At that point your
community will be reevaluated so we urge you to make as many improvements as
possible in the meantime! Of course, if you wish to renew sooner please feel free to do
so. We look forward to seeing the community's progress.
We would like to promote the community on our website so please email us five
photographs that we can use to produce your specific BFC community page. Please
contact BFC program specialist Alison Dewey via email Ali sonk. bikeleague.org or
phone 2 02 -822 -1333 for more details on settings up an award ceremony and your
community page.
Once again, accept our congratulations on your tremendous efforts to create a truly
Bicycle Friendly Community.
Sincerely,
Bill Nesper
Program Manager
League of American Bicyclists
P:202- 822 -1333
billrabikelea_ue.org
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VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: One appointment to the Vail Local Licensing Authority (LLA) board.
PRESENTER(S): Pam Brandmeyer
ACTION REQUESTED OF COUNCIL: Please interview the Local Licensing authority (LLA)
Applicant to fill one (1) vacancy at the work session and appoint one person to the LLA board
at the evening meeting (two year term, expires May 31, 2011).
BACKGROUND: All applicants to the LLA must be citizens of the United States, qualified
electors of the Town of Vail, and have resided in the Town of Vail for not less than two years
preceding appointment, and shall have no direct financial interest in any license to sell
alcoholic beverages or any location having any such license. Duties of the five - member board
include review of all Town of Vail liquor license applications. There is currently one vacancy
on the LLA. The Town received one (1) application for the vacancy. The Council needs to
interview the applicant at the work session and then make the appointment to the LLA at the
evening meeting. The applicant is Jill Landman Alfond.
ATTACHMENTS:
Jill Alfond Letter of Interest
(512812009) L orelei Don aldson - Liquor Licensing Authority Page 1
From: Jill Landman Alfond Cjiilalfond@mac.com>
To: Cldonaldson @vailgov.com-
Date: 5127/2009 3:20 PM
Subject: Liquor Licensing Authority
I am writing to you to put my name into consideration for the Town of
Vail Liquor Licensing Authority. I am a 17 -year resident of the Vail
Valley, the last 8 of which I have been a Vail resident.
As my family and I continue to enjoy life in the mountains, I feel a
sense of responsibility to this beautiful town that I am fortunate
enough to call home. I would very much like to give my time back to a
town that I feel has given so much to me, my husband, and our
children. While, like many others, we were tempted (for a short time)
to move down valley, ultimately we decided that we moved to Vail to
live in Vail and to support Vail with our time and talents seem like
the right thing to do for our family.
My husband and I were involved in the ownership of Ray's Restaurant
(no longer in operation) in Edwards, and like most people who have
spent time in Vail, I have worked in numerous restaurants and bars —
I feel like this knowledge of the industry as both an owner, an
employee and a consumer and I feel I could quite nicely put all of the
experience together working toward responsible oversight of liquor
licensing and consumption.
I also have another vantage point which makes me interested in this
position: that is on the special events side. I have planned special
events for over 13 years locally, including for the resort,
indepentently, and on behalf of several non- profit entities. I know
from the event side that a tremendous amount of planning goes into
making these productions successful, and I think all the special
events which occur in town, from small scale to large -scale are
valuable to help secure Vail's position as the premier mountain
community - -I see responsible stewardship of these events, especially
partaining to liquor licensing, as a key to Vail's long -term strategy
to continue to attract and maintain guest visits throughout the year.
Thank you for your consideration.
Kind regards,
Jill Landman Alfond
Dear Lorelei,
Help!
'v1+'e recently moved so I am not sure which address is on file with the town (and I will get this taken
care of right away, if I haven't already)
My address WAS 950 Red Sandstone Rd #28 Vail CO 81657- -new address is 1345 Westhaven Circle
Vail, CO 81657
970.376.5860 -- my apologies, 1 _just realized that I used no letterli+cad when I sent that.
Thanks,
.Till
4 -1 -1
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VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Consent Agenda.
b. Approval of 05.05.09 & 05.19.09 Town Council Minutes.
ATTACHMENTS:
05.05.09 Minutes
05.19.09 Minutes
Vail Town Council Meeting Minutes
Tuesday, April 21, 2009
6:00 P.M.
Vail Town Council Chambers
The regular meeting of the Vail Town Council was called to order at
approximately 6:00 P.M. by Mayor Dick Cleveland.
Members present: Dick Cleveland, Mayor
Mark Gordon
Kevin Foley
Margaret Rogers
Andy Daly
Not present: Farrow Hitt
Kim Newbury
Staff Members: Stan Zemler, Town Manager
Matt Mire, Town Attorney
Pam Brandmeyer, Assistant Town Manager
The first item on the agenda was Citizen Input.
Wayne Glass of Bond appeared before the Council as a follow up to a staff
memorandum that was included in the Council's packet regarding his interest in creating
a business to provide Segway (balancing scooter) tours along Vail's recreation paths.
Balancing scooters are currently prohibited on bike and pedestrian paths in Vail because
they're considered to be a motor - driven cycle. Glass asked the Council to consider
amending the town code prior to enactment of a new Colorado law that would
grandfather such use if enacted within 30 days. The Council directed staff to add the
topic as an agenda item for the next available work session.
Darrell Bangert from Twin Lakes asked the Council to support the use of Segways on
the recreation paths, noting he was also interested in renting Segways. Bangert said he
took a Segway tour in Chicago recently where the activity proved extremely popular.
Robin Henzler, director of Children's Garden of Learning, and Cindy Lagace, director of
the Vail Child Care Center, presented an Early Childhood Champion award to the Town
of Vail for being an advocate of early childhood education. The town was selected for the
award by child care professionals in Eagle County. Lagace also was an award recipient
for inspiration in early childhood care and education.
The second item on the agenda was the Vail Youth Recognition Award.
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The Council recognized winners of the Vail Youth Recognition Award, which is
sponsored by the Town of Vail and the Vail Valley Exchange. The recipients are Eleanor
Cahill of Battle Mountain High School and Cynthia Edgerton of Vail Mountain School.
The purpose of the award is to recognize and reinforce outstanding achievement by
youth of the upper Vail Valley, both for their individual achievements and as role models
for their peers. As such, each of the winners received $1,000 college scholarships.
The third item on the agenda was an appoint of one member to the Vail Local Housing
Authority (VLHA) Board.
The Council voted 6 -0 to reappoint Ethan Moore to the Vail Local Housing Authority to a
term expiring May 31, 2014. The town had received four applications: Scott Ashburn,
Jason Hartman, Ethan Moore (incumbent board member) and Pamela Hopkins.
The fourth item on the agenda was the Vail Local Licensing Authority (VLLA) vacancy
appointments.
The Council voted 6 -0 to reappoint Mark Conlin and Kevin (KJ) Williams to the Vail Local
Licensing Authority for terms expiring May 31, 2011. The town had
received two applications for three vacancies. The Town Clerk will now re- publish the
vacancy notice to attract applicants for the remaining seat.
The fifth item on the agenda was the Town Manager's Report.
Kathleen Halloran, the town's budget manager, presented a monthly revenue update.
March sales tax revenue of $2.5 million is down 25 percent from March 2008 and down
17 percent from the budget projections. Year -to -date total sales tax collections are down
18 percent from 2008 and down 11 percent from budget. The ski season, November
through March, is down 14.5 percent from last ski season. Use tax collections are up 5.6
percent from this time last year, while construction permit revenue is down 69 percent
from 2008, which is currently pacing with the 2009 budget. Real Estate Transfer Tax
collections totaled $649,388 as of April 28, a 72 percent decrease from last year due to
both major and non -major redevelopment projects. Parking revenue of $3.4 million was
up 18 percent from this time last year. The revenue was budgeted at a 16 percent
increase.
The sixth item on the agenda was a Request For Proposals (RFP) to construct two new
employee housing units on the Town owned lot at 2657 Arosa Drive (commonly known
as the A- Frame) which is legally described as Lot 8, Block C - Vail Ridge.
The Council voted 6 -0 to authorize the issuance of a Request for Proposals (RFP) for
construction of a duplex on a town -owned lot in West Vail to be used as employee
housing. The property is located at 2657 Arosa Drive and was acquired in 1995 as part
of a land exchange with the U.S. Forest Service. The .418 -acre lot is zoned primary-
secondary. During an overview, Housing Coordinator Nina Timm noted at the time of the
town's acquisition, an A -frame residence, built in 1972, was located on the property and
was used as rental housing by the town until it was torn down in 2000 to make way for
new employee housing units. At the time, the town hired an architect to design a new
employee housing duplex. However, the town changed its priorities before beginning
construction of the new units. During Council's review of the draft RFP, Timm clarified
that a lottery would be held to identify buyers prior to commencing construction of the
units to minimize the town's risk and that the sale of the deed restricted units would
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recover the town's investment. During the public comment period, Bob Armour, a
resident of the neighborhood and former mayor, told of his involvement in acquiring the
property on behalf of the town. He also expressed concerns about drainage and
wetlands issues, noting that conditions have intensified on the site since an earlier
analysis. Armour offered support for issuing the RFP and noted it may only be possible
to develop one unit on the site. If the site proves difficult to develop, Armour suggested
leaving the site as open space rather than placing a deed restriction on the property and
selling it as was suggested by the staff as a possible alternative. Mark Gordon urged
staff to follow the timetable outlined in the RFP which would include issuing the RFP on
May 6 with responses due by May 21 and selection of a development team by June 16.
Gordon said the schedule would result in employee housing being under construction by
fall and would reinforce the council's commitment to its housing priority.
The seventh item on the agenda was the 2009 Asphalt Overlay Project Award.
The Council voted 6 -0 to authorize the Town Manager to enter into an agreement with A-
1 Chipseal Company, in a form approved by the Town Attorney, to complete the 2009
Asphalt Overlay Project in the amount of $348,848. The town had received four bids, all
of which were within budget and below the engineer's estimate. A -1 Chipseal was the
low bidder. The project consists of maintenance asphalt overlays on portions of the
roads in Main Vail and West Vail, more specifically, Spraddle Creek Road, and those
roads in the Red Sandstone Drive area. The four bids were as follows: A -1 Chipseal
Company, $348,848; Elam Construction, $393,831; B &B Excavating, $426,831.83; and
Grand River Construction, $439,298.50. The project is budgeted within the Capital Street
Maintenance Budget. During discussion, Kim Newbury suggested that since prices are
low, perhaps the town should consider adding additional streets to the overlay project
that are scheduled for next year. Town Engineer Tom Kassmel agreed to return to the
Council with a possible change order once more information is known.
The seventh item on the agenda was a Timber Ridge Redevelopment discussion.
The Council voted 6 -0 to continue the due diligence process and begin a 60 -day pre -
development negotiation with Vail Timber Ridge, LLC of El Paso, Texas, in its pursuit to
redevelop the Timber Ridge property for employee housing. The objective of the due
diligence process is to determine if the group has the ability to complete the project as
proposed. The town issued a Request for Qualifications and Proposals for the eastern
half of the property in December 2008 which generated 10 responses. Of the 10, six
teams were interviewed by the Vail Local Housing Authority (VLHA) and staff. The field
was then narrowed to four finalists. Those groups were interviewed by the Town Council
and the VLHA on April 21. Council members said they were optimistic about the
possibilities for redevelopment. Andy Daly noted the proposal meets the long -term
affordable housing requirements of the town with 619 pillows on half the site. In addition,
the town would retain ownership of the property and $11 million in debt would be
eliminated, both of which are important priorities for the town, he said. The proposal
provides for occupancy in 2011. In offering the motion to begin a new phase of the
redevelopment process, Margaret Rogers noted the proposal offered by the Timber
Ridge, LLC group most closely satisfies the redevelopment criteria established by the
town. Kim Newbury said the process has been interesting in that it was difficult to
compare the four proposals as each offered varying concepts for financing, density and
the manner in which parking was addressed. Mark Gordon said he was extremely
optimistic that a redevelopment scenario would soon come to fruition. Team members
from Timber Ridge, LLC have experience in numerous housing developments across the
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country and are known for their development and operation of multi -unit housing
including military and student housing.
The eighth item on the agenda was the First Reading of Ordinance No. 10, Series of
2009 adopting a major amendment to Special Development District No. 2, Northwoods,
pursuant to Article 12 -9(A), Special Development District, Vail Town Code, to allow for a
lobby addition and locker reconfiguration; located at 600 Vail Valley Drive ( Pinos Del
Norte, Building C) /Part of Tract B, Vail Village Filing 7, and setting forth details in regard
thereto (PEC090009).
The Council voted 6 -0 to approve first reading of the ordinance. Prior to the vote,
Planner Nicole Peterson provided an overview, noting the proposed lobby addition and
locker reconfiguration trigger a major amendment requirement under Section 12 -9A -2,
Vail Town Code; because the proposed lobby addition expands the existing building
footprint more than five feet, and the lockers were originally built under a major
amendment (Ordinance No. 33, Series of 1991). On April 13, 2009, the Planning and
Environmental Commission forwarded a recommendation of approval, with conditions to
the Vail Town Council of Ordinance No. 10, Series of 2009, by a vote of 4 -0 -1 ( Kjesbo
recused). During the Council's discussion, Andy Daly said he had two conclusions about
the project following a site visit earlier in the day. First, that Pinos Del Norte is stepping
up to do some upgrading to their facilities that will substantially improve the property.
And, secondly, that no encroachments are being requested. Dick Cleveland added that
no additional GRFA (gross residential floor areas) is being requested.
The ninth item on the agenda was the First reading of Ordinance No. 11, Series of
2009, an ordinance to amend Title 11, Sign Regulations, Vail Town Code, pursuant to
Section 11 -3 -3, Prescribed Regulations Amendment, Vail Town Code, to establish
regulations for temporary building banner signs within the Town of Vail.
The Council voted 6 -0 to approve the ordinance on first reading and directed staff to
revise the ordinance for second reading to include provisions that will create a trial
period for the regulations which would permit placement of large banner signs on
qualifying buildings during the summer of 2009. The Council has asked for numerous
stipulations to limit the number of signs and the duration for their display. The vote
occurred after several concerns were expressed with the ordinance as written.
Prior to the vote, Planner Rachel Friede explained the applicant, the Vail Valley
Foundation, had applied for a prescribed regulations amendment to Title 11, Sign
Regulations, Vail Town Code, in order to facilitate the use of large banners on buildings
under construction to advertise community events. On April 13, 2009, the PEC failed to
pass a recommendation of approval to the Vail Town Council (2 -3 vote, with Kurz,
Lindall, Kjesbo opposed, Pierce and Palladino absent). Based upon staff's review of the
criteria outlined in Section V of the staff memorandum to the PEC dated April 13, 2009,
and the evidence and testimony presented, Friede said the Community Development
Department was recommending denial of the ordinance. As proposed, banner signs up
to 1,500 square feet per development site would be allowed on buildings under
construction in the commercial and business districts of Vail Village, LionsHead and
West Vail to advertise community events that have a Town of Vail special events permit
and /or receive sponsorship from the Vail Commission on Special Events. The signs, no
more than two per development site, would be displayed for as long as the building has
an active building permit or within 14 calendar days of the completion of the advertised
community event. No lighting would be allowed. The signs would require approval by the
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Design Review Board prior to installation. During discussion, several Council members
said they disagreed with the staff's assessment that the signs would veer away from the
character of the community. Andy Daly said he was comfortable with the concept in that
it provides information and excitement in an otherwise unattractive space. He noted the
proposal was not meant to be signage in the traditional sense, and, therefore, staff's
findings based on compliance with other provisions of the sign code were irrelevant. Kim
Newbury said she didn't think the signs would be a distraction for motor vehicle
operators as suggested by the staff. Margaret Rogers said the signs would complement
the town's focus on marketing and would be visible to travelers along Interstate 70,
reminding them that Vail is a vibrant community. Due to the creative and artistic way in
which the signs would market Vail, Rogers suggested the Art in Places Board should
review the applications rather than the Design Review Board. During the public comment
period, Bob Armour, a former mayor, said he was "appalled" by the proposal, saying it
was more akin to Times Square than Vail, Colorado. Jim Lamont of the Vail
Homeowners Association suggested the banners would be more productive if they were
hanging on buildings in Chicago or New York "where they belong" (to market Vail).
Lamont expressed caution, saying the proposal could be viewed as the community
devaluing itself. In the end, Council members agreed the ordinance was too open ended
as currently written and offered its support to suggestions by Dick Cleveland to rewrite
the ordinance as a pilot program with numerous restrictions.
The tenth item on the agenda was the First reading of Ordinance No. 12, Series of
2009, an ordinance establishing Special Development District No. 41, the Vail Row
Houses, pursuant to Article 12 -9A, Special Development (SDD) District, Vail Town Code,
and setting forth details in regard thereto. (PEC080074).
At the request of the applicant, the Council voted 5 -1 (Cleveland against) to table the
ordinance to the June 2, 2009, meeting. The request was made after Council members
expressed concern about sufficient public benefits associated with the project and after a
vote to approve the ordinance failed, 1 -5, with Mark Gordon casting the single vote of
approval. On April 13, 2009, the PEC voted 5 -0 -0 to forward a recommendation of
approval to the Town Council for establishment of the proposed special development
district (SDD). During an overview by the applicant, Dominic Mauriello said the SDD was
being proposed to create a townhouse zoning scenario that would address 40 years of
variances on the property. As such, the eastern half of the row houses, located at 303
Gore Creek Drive, units 7 -14, would be allowed to construct future individual renovations
under the proposal. In exchange for the deviations, public benefits offered by the
applicant include deeding 915 square feet of property to the town, represented as a 10
foot wide strip of land to be added to the eastern half of Roger Staub Park, an employee
housing fee in lieu payment representing a 15 percent housing mitigation rate, rather
than the 10 percent rate currently required by the town code and converting the
driveways to heated pavers as redevelopment occurs to conform with the town's
Streetscape Master Plan. During discussion by the Council, Margaret Rogers said she
wasn't convinced there are enough public benefits associated with the project, noting the
heated pavers would only be a benefit if they were done in an environmentally sensitive
way. She suggested consideration of a public art component, as well. Mark Gordon said
he, too, would prefer a public art benefit. Kevin Foley expressed concerns about existing
vegetation that would be lost during redevelopment of the end unit and agreed the public
benefit was lacking. Andy Daly said he thought use of an SDD approach was
inappropriate in this circumstance and that remaining units of the row house should
apply for a variance like the others have done. He said the SDD would change the
5
5 -1 -5
character of the neighborhood, especially as it relates to building height. Dick Cleveland
said he was concerned the SDD didn't address the current parking deficit and that the
park dedication wasn't sufficient in providing a public benefit. During the public comment
period, Jim Lamont of the Vail Homeowners Association expressed the importance of
fair and consistent treatment, saying, "if you like this approach to bulk and mass, you
need to presume that others will attempt to follow the lead."
The eleventh item on the agenda was the Second reading of Ordinance No. 8, Series of
2009, An Ordinance making supplemental appropriations to the Town of Vail General
Fund, Capital Projects Fund, Capital Projects Fund, Real Estate Transfer Tax Fund,
Dispatch Services Fund, Heavy Equipment Fund and Debt Service Fund of the 2009
Budget for the Town of Vail, Colorado.
The Council voted 6 -0 to approve the ordinance. Prior to the vote, Budget Manager
Kathleen Halloran explained the ordinance had been revised downward from first
reading for a total of 7.2 million across all funds. Items in the revised supplemental were
limited to re- appropriations for projects currently underway and under contractual
obligation, or other projects that may be underway as previously approved by the
Council, but due to a change of scope require additional funds. Another $3 million in
projects have been placed on hold until a full budget review in June.
The twelfth item on the agenda was Resolution No. 11, Series 2009, A Resolution
Designating Bank Accounts for E- Commerce Transactions for the Town of Vail with Stan
Zemler, Pam Brandmeyer, Judy Camp and Jacque Lovato, as the Designated Signers
on that Account. Permitted by the Charter of the Town, Ordinances, and the Statutes of
the State of Colorado.
The Council voted 6 -0 to approve the resolution which enables the town to subscribe to
an eCourier transaction system that allows electronic recordation of land records with
the Eagle County Clerk and Recorder. The eCourier company requires a bank account
for automatic withdrawals for the recording fee. The account will be an imprest account
with a minimum balance replenished as recording fees are incurred.
The thirteenth item on the agenda was Resolution No. 12, Series 2009, A Resolution
Approving the Amendments to the Vail Transportation Master Plan.
The Council voted 6 -0 to approve the resolution as presented by Town Engineer Tom
Kassmel and reviewed during the work session. The resolution consolidates and
updates the transportation master planning and design efforts into a single master plan
document. Kassmel said the plan is based upon existing conditions, current trends and
anticipated growth and is intended to be a guide for the town's transportation system for
the next 20 years. During discussion, Andy Daly noted his interest in seeing the plan
evolve from its traditional scope to one that is more innovative in limiting automobile use.
He also questioned the ability of the private sector to help with an assigned $75 million in
improvements due to the downturn in the economy, saying the $100 million estimated
price tag is not sustainable. He said it will be up to the Town Council to make sure the
right projects are being prioritized and selected that will benefit the community over the
long term. Kevin Foley said he preferred moving forward with the Simba Run underpass
sooner rather than later to help improve transit connections.
6
5 -1 -6
The fourteenth item on the agenda was Resolution No. 13, Series 2009, A Resolution
Approving the Skier Drop -Off Easement Agreement Between the Town of Vail, Colorado
(the "Town ") and the Vail Corporation dba Vail Associates, Inc ( "VAI ").
The Council voted 6 -0 to approve the resolution following an overview by Town Attorney
Matt Mire. He explained that VAI is the owner of certain real property in Vail commonly
known as the "North Day Lot" and that the town has given requisite development plan
approvals for developing the North Day Lot as a multi - family employee housing
residential project together with other related improvements. The approved development
plans provide for the construction and relocation of a nine (9) space skier drop -off area.
He said the town and VAI wish to enter into the Skier Drop -Off Easement Agreement in
furtherance of implementing the use of the skier drop -off area for its intended purposes
and of integrating such use with the future North Day Lot development. During
discussion, Kevin Foley suggested the need to identify an interim skier drop -off solution
during construction of the North Day Lot project.
The fifteenth item on the agenda was the Resolution No. 14, a resolution approving the
increased fees in the provision of fire protection services out of town limits.
In reviewing Resolution No. 14, which is intended to increase fees charged for fire
protection services outside of town limits to recover the town's costs and a companion
fee schedule, the Council voted 6 -0 to table the matter to the next meeting. Although the
proposed rate of 4.021 mills per dollar of assessed valuation covers the town's costs,
according to Finance Director Judy Camp, Council questioned whether the 1991 rate of
14 cents per square foot would result in more revenue for the town. The other option is
for property owners located outside the town to pay a per call rate. Other fees
administered by the Fire Department were last increased in 2003 and do not recover the
town's costs. The proposed fee schedule is intended to increase fees to a level
appropriate for 2009.
The sixteenth item on the agenda was Adjournment.
The Council voted to adjourn at 8:55 p.m.
Dick Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
7
5 -1 -7
Vail Town Council Meeting Minutes
Tuesday, May 19, 2009
6:00 P.M.
Vail Town Council Chambers
The regular meeting of the Vail Town Council was called to order at
approximately 6:00 P.M. by Mayor Dick Cleveland.
Members present: Dick Cleveland, Mayor
Mark Gordon
Kevin Foley
Margaret Rogers
Andy Daly
Farrow Hitt
Kim Newbury
Staff Members: Stan Zemler, Town Manager
Matt Mire, Town Attorney
Pam Brandmeyer, Assistant Town Manager
The first item on the agenda was Citizen Input.
There was none.
The second item on the agenda was a Eagle County Assessor Update.
Eagle County Assessor Mark Chapin reported in Colorado the county assessor must
reevaluate property in every odd year. He explained home sales volume (single family
as well as multi - family) is currently down 80% from one year ago. Chapin continued by
explaining there is a five to twenty percent decline in the market place where sales are
taking place. "We are unable to change any property evaluations made after June 20,
2008." Hitt asked what could be done to make assessed values reflect the current
economic climate. Chapin responded, "There is no avenue." During a pause for public
comment, Paul Rondeau asked when the 5'/z% property tax escalation limit was put into
place.
The third item on the agenda was the Town Manager's Report.
There was none.
The fourth item on the agenda was the Consent Agenda.
a. Approve 04.07.09 & 04.21.09 Town Council Minutes.
5 -2 -1
Foley moved to approve the minutes with minor amendments with Daly seconding. The
motion passed unanimously, 7 -0.
The fifth item on the agenda was a Presentation on the Sustainable Design Assessment
Team (SDAT) grant award and process in the Eagle River Valley.
Bertuglia asked Council to support and participate in the SDAT review process, and
consider recommendations when results of the assessment are presented in September
2009. The Colorado West Chapter of the American Institute of Architects (AIA) received
a grant in the amount of $15,000 from the AIA National division for a Sustainable Design
Assessment Team (SDAT) review of the Eagle River Valley. The study area includes
East Vail to Dotsero, Minturn, Red Cliff and the metro districts of Beaver Creek, Bachelor
Gulch, and Cordillera. Bertuglia currently serves on the steering committee for the
SDAT, and will assist with coordinating municipal leaders' participation to option
feedback throughout the process. The University of Colorado's Center for Sustainable
Urbanism will assist with follow up on the implementation of results of the SDAT team's
efforts. The SDAT program focuses on the importance of developing sustainable
communities through design. The mission of the SDAT program is to provide technical
assistance and process expertise to help communities develop a vision and framework
for a sustainable future. AIA Colorado West representative Chris Green explained the
goals and parameters of the program. He then asked for Council support and active
town participation in the project.
The sixth item on the agenda was the First reading of Ordinance No.7, Series 2009, an
ordinance repealing and re- enacting Ordinance No. 5, Series of 2006, and amending
Special Development District (SDD) No. 39, Crossroads.
On March 9, 2009, the PEC held a public hearing on a request for a major amendment
to SDD, No. 39, Crossroads. The purpose of the major amendment is to increase the
maximum allowable number of dwelling units from 77 to 78. Upon review of the request,
the PEC voted 6 -1 -0 (Pierce opposed) to forward a recommendation of approval of the
request to Council. On March 17, 2009, Council tabled the first reading of Ordinance No.
7, Series of 2009, at the applicant's request to the April 21, 2009, public hearing. On
April 21, 2009, Council tabled this item to the May 19, 2009, public hearing. Applicant
representative Dominic Mauriello explained the space currently slated as a retail location
would not function well for that purpose. Rogers moved to approve the ordinance with
Newbury seconding. Rogers commented, "I don't believe the space works as a
commercial space." Campbell and Mire explained there were operating covenants in
regard to the movie theater and bowling alley proposed to be located in the structure.
Daly clarified the ordinance would add no public benefits. Newbury noted a retail to
residential conversion was recently approved in the Vail Village Inn. Cleveland said,
"The current financial situation is not a criteria for any anything we are being asked to
do I think it would be a perfect spot for a restaurant." The motion passed, 4 -3 with
Daly, Foley and Cleveland opposed.
The seventh item on the agenda was the First reading of Ordinance No. 13, Series of
2009, an ordinance amending the approved development plan for Phase IV of SDD No.
6, Vail Village Inn, pursuant to Article 12- 9A -10.
5 -2 -2
Planner Bill Gibson asked Council to consider Ordinance No. 13, Series of 2009, an
ordinance amending the approved development plan for Phase IV of Special
Development District No. 6, Vail Village Inn, pursuant to Article 12- 9A -10, Amendment
Procedures, Vail Town Code, to allow for the conversion of two existing fractional fee
club units to dwelling units and the conversion of one dwelling unit to a fractional fee club
unit, located at 16 Vail Road (Vail Plaza Hotel) / a portion of Lots M, N, and O, Block 5D,
Vail Village Filing 13he PEC held public hearings to discuss this request on April 27 and
May 11, 2009. On May 11, 2009, the Planning and Environmental Commission voted 7-
0-0 to forward a recommendation of approval. The applicant, Waldir Prado said the
penthouse in the building would not be finished and is currently uninhabitable. "At this
point there is no demand for that The fact that it is not finished is not a negative but
rather a positive." Newbury moved to deny the ordinance with Cleveland seconding.
Applicant representative Connie Dorsey clarified where the proposed units were located,
both facing Vail Mountain. The units were the only units with no weeks sold. The
motion failed 2 -5, with Newbury and Cleveland voting in favor. Gordon then moved to
uphold the PEC decision with Rogers seconding. During a pause for public comment, a
fractional unit owner, Robert Vogel, spoke against the ordinance. The motion passed 4-
3, with Cleveland, Foley and Newbury opposed.
The eighth item on the agenda was the Second Reading of Ordinance No. 10, Series of
2009 adopting a major amendment to Special Development District No. 2, Northwoods,
pursuant to Article 12 -9(A), Special Development District, Vail Town Code, to allow for a
lobby addition and locker reconfiguration; located at 600 Vail Valley Drive (Pinos Del
Norte, Building C) /Part of Tract B, Vail Village Filing 7.
On May 5, 2009 the Vail Town Council approved Ordinance No. 10, Series of 2009 on
first reading, by a vote of 6 -0 -0, based on criteria and findings in Section VII of Staff's
April 13, 2009, memorandum to the PEC, and evidence and testimony presented. On
April 13, 2009, the PEC forwarded a recommendation of approval, with conditions to the
Vail Town Council of Ordinance No. 10, Series of 2009, by a vote of 4 -0 -1 ( Kjesbo
recused). Foley moved to approve the ordinance with Daly seconding. The motion
passed unanimously, 7 -0.
The ninth item on the agenda was the Second reading of Ordinance No. 11, Series of
2009, an ordinance to amend Title 11, Sign Regulations, Vail Town Code, pursuant to
Section 11 -3 -3, Prescribed Regulations Amendment, Vail Town Code, to establish
regulations for temporary building banner signs within the Town of Vail.
Planner Rachel Friede explained the applicant, the Vail Valley Foundation (VVF),
applied for a prescribed regulations amendment to Title 11, Sign Regulations, Vail Town
Code, in order to facilitate the use of large banners on buildings under construction to
advertise community events. On April 13, 2009, the PEC failed to pass a motion for a
recommendation of approval to the Vail Town Council (2 -3 -0, Kjesbo, Kurz, Lindall
opposed). Failure to pass a motion for a recommendation of approval is by default a
recommendation of denial to Council. On May 5, 2009, Council unanimously approved
Ordinance No. 11, Series of 2009 (6 -0 -0) with the following changes, which are reflected
in the ordinance language: 1. Maximum of five signs within the Town of Vail at any time
2. One sign per building 3. Ninety (90) day maximum per sign 4. Sign removal
maximum seven (7) days after event completion. Newbury moved to approve the
ordinance with Rogers seconding. VVF representative Scott Bluhm said the proposed
5 -2 -3
banner would be tastefully designed. The motion passed 6 -1, with Hitt opposed. The
ordinance will expire on September 30, 2009.
The tenth item on the agenda was Resolution No. 14, a resolution approving the
increased fees in the provision of fire protection services out of town limits.
Town Council requested a review of fees charged for town services to assure the town's
costs are recovered. Fees currently charged do not recover the town's costs. The
proposed fee schedule increases fees to a level appropriate for 2009. Daly and Rogers
said the resolution meets the needs of the Fire Department as well as to the town. Daly
moved to approve the resolution with Rogers seconding. The motion passed
unanimously, 7 -0.
The eleventh item on the agenda was Resolution No. 15, Series of 2009, a resolution
adopting an amended budget and making appropriations to pay the costs, expenses and
liabilities of the Vail Local Marketing District, for its fiscal year January 1, 2009 through
December 21, 2009 of 2009, adjusting the 2009 Vail.
Daly moved to approve the resolution with Newbury seconding. The motion passed 6 -1,
with Foley opposed. Foley said he believed the VLMD should directly fund special
events and support the free operation of the gondola during the summers.
The twelfth item on the agenda was the Discussion of Resolution No. 16, Series of
2009, a Resolution Approving the Increase in the Fee Schedule for Vail Fire &
Emergency Services.
The Town has adopted the International Fire Code (the "Fire Code ") under Title 10 of the
Town of Vail Municipal Code. The Fire Code provides that a fee be paid for each permit
in accordance with the schedule as established by the applicable governing authority.
Periodically such fees should be adjusted to reflect the cost of the provisions of such
services and to compensate for inflation. Daly moved to approve the resolution with
Rogers seconding. Foley clarified there would be a two hour minimum charge for
services. The motion passed unanimously, 7 -0.
The thirteenth item on the agenda was Adjournment.
Foley moved to adjourn with Daly seconding at approximately. The motion passed
unanimously, 7 -0.
Dick Cleveland, Mayor
ATTEST:
5 -2 -4
Lorelei Donaldson, Town Clerk
5 -2 -5
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Presentation of 2008 audit report.
PRESENTER(S): Michael Jenkins from McMahan & Assoc.
ACTION REQUESTED OF COUNCIL: None
BACKGROUND: None
STAFF RECOMMENDATION: None
ATTACHMENTS:
2008 TOV Final Audit
TOWN OF V
Financial Statements
December 31, 2008
6 -1 -I
Town of Vail, Colorado
Financial Statements
December 31, 2008
Table of Contents
Page
INDEPENDENT AUDITOR'S REPORT Al -A2
Management's Discussion and Analysis 131 — B7
Government -Wide Financial Statements:
Statement of Net Assets C1
Statement of Activities C2
Fund Financial Statements:
Governmental Funds:
Balance Sheet C3
Statement of Revenues, Expenditures and Changes in Fund Balances C4
Proprietary Funds:
Statement of Net Assets C5
Statement of Revenues, Expenses and Changes in Fund Net Assets C6
Statement of Cash Flows C7
Fiduciary Funds:
Statement of Fiduciary Net Assets C8
Statement of Changes in Fiduciary Net Assets C9
Notes to the Financial Statements D1 — D32
Required Supplementary Information:
General Fund:
Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget (GAAP Basis) and Actual E1- E2
Major Special Revenue Funds:
Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget (GAAP Basis) and Actual:
Capital Projects Fund E3
Real Estate Transfer Tax Fund E4
Conference Center Fund E5
Vail Marketing Fund E6
Vail Local Marketing District E7
Vail Reinvestment Authority E8
Supplementary Information:
Debt Service Fund:
Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget (GAAP Basis) and Actual F1
Enterprise Funds:
Schedule of Revenues, Expenses and Change in Fund Net Assets —
Budget (Non -GAAP Basis) and Actual - With Reconciliation to GAAP Basis —
Timber Ridge Affordable Housing Corporation F2
Schedule of Revenues, Expenses, and Change in Fund Net Assets —
Budget (Non -GAAP Basis) and Actual - With Reconciliation to GAAP Basis —
Dispatch Services Fund F3
Internal Service Funds:
Schedule of Revenues, Expenses, and Change in Fund Net Assets —
Budget (Non -GAAP Basis) and Actual - With Reconciliation to GAAP Basis —
Heavy Equipment Fund F4
Schedule of Revenues, Expenses and Change in Fund Net Assets —
Budget (GAAP Basis) and Actual - Health Insurance Fund F5
6-1 -2
Town of Vail, Colorado
Financial Statements
December 31, 2008
Table of Contents
(Continued)
Page
Supplementary Information (continued):
Internal Service Funds (continued):
Combining Statement of Net Assets F6
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets F7
Combining Statement of Cash Flows F8
Major Special Revenue Funds:
Schedule of Project Expenditures - Budget (GAAP Basis) and Actual:
Capital Projects Fund F9
Real Estate Transfer Tax Fund F10
Local Highway Finance Report F11 — F12
Undertaking to Provide Continuing Disclosure:
Table I — Debt Service Coverage G1
Table III — History of Town 4% Sales Tax Receipts G1
Table IV — Monthly Comparison of Collections of Sales Tax G1
Table V — Sales Tax Collections by Principal Sales Tax Generators G2
Table VI — Capital Projects Fund — 2008 Actual / Projected 2009 — 2012 G2
Table XIX — History of General Fund Revenues, Expenditures and Changes in Fund Balance G3
Table XX — General Fund — 2008 Budget and Actual Comparison / 2009 Budget G4
Table XXI — Outstanding Revenue Obligations G4
Single Audit Reports and Schedules:
Report on Internal Control over Financial Reporting and on Compliance
and Other Matters based on an Audit of Financial Statements Performed
in Accordance with Governmental Auditing Standards H1 —1-12
Report on Compliance with Requirements Applicable to Each Major Program and
Internal Control over Compliance in Accordance with OMB Circular A -133 H3 — H4
Schedule of Findings and Questioned Costs H5
Schedule of Prior Audit Findings and Questioned Costs H6
Schedule of Expenditures of Federal Awards H7
6 -1 -3
M MCMAHAN AND ASSOCIATES, L. L.C.
Certified Public Accountants and Consultants
S' 4h' WEB SITE: WWW.MCMAHANCPA.COM
U SUITE 222 /AVON CENTER TELEPHONE: (970) 84' - 8800
1 00 WEST BEAVER CREEK BLVD. FACSIMILE: (970) 845 1
A P.O. BOX 5850 AVON, CO 8 1 620 E - MAIL: MCMAHAN @MCMAHANCPA.COM
INDEPENDENT AUDITOR'S REPORT
To the Mayor and Members of Town Council
Town of Vail, Colorado
Vail, Colorado
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the Town of Vail, Colorado,
(the "Town "), as of and for the year ended December 31, 2008, which collectively comprise the Town's
basic financial statements as listed in the table of contents. These financial statements are the
responsibility of the management of the Town. Our responsibility is to express opinions on these financial
statements based on our audit.
We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above presently fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, each major fund,
and the aggregate remaining fund information of the Town of Vail, Colorado, as of December 31, 2008,
and the respective changes in financial position and cash flows, where appropriate, thereof for the year
then ended in conformity with U.S. generally accepted accounting principles.
In accordance with Government Auditing Standards, we have also issued our report dated May 15, 2009
on our consideration of the Town's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the internal
control of financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards and should be read in conjunction with this report in
considering the results of our audit.
The Management's Discussion and Analysis in section B is not a required part of the basic financial
statements but is supplementary information required by U.S. generally accepted accounting principles.
We have applied certain limited procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation of the required supplementary information.
However, we did not audit the information and express no opinion on it.
Performing services for local governments throughout Colorado
D. Jerry McMahan, C.P.A. Daniel R. Cudahy, C.P.A.
Paul J. Backes, C.P.A. Michael N. Jenkins, C.A., C.P.A.
Members: American Institute of Certified. Public Accountants /Colorado Society of Certified Pudic Accountants
National and Colorado Government Finance Officers Association /Colorado Municipal League
6 -1_4'1
To the Mayor and Members of Town Council
Town of Vail, Colorado
Vail, Colorado
The budgetary schedules in section E are not a required part of the basic financial statements but are
supplementary information required by U.S. generally accepted accounting principles. Such information
has been subjected to the auditing procedures applied in the audit of the basic financial statements and,
in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken
as a whole.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Town's basic financial statements. The accompanying supplementary information in section
F, including individual fund budgetary statements, combining internal service fund financial statements,
budgetary statements for project expenditures, and the Local Highway Finance Report, and tables
included for the Undertaking to Provide Continuing Disclosure in section G are presented for purposes of
additional analysis and are not a required part of the basic financial statements. Additionally, the
Schedule of Expenditures of Federal Awards included in the Single Audit section is presented for
purposes of additional analysis as required by the U.S. Office of Management and Budget Circular A -133,
Audits of States, Local Governments, and Non - Profit Organizations, and is not a required part of the basic
financial statements of the Town. Such information, except for the tables included for the Undertaking to
Provide Continuing Disclosure in section G, have been subjected to the auditing procedures applied in
the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in
relation to the basic financial statements taken as a whole. The tables included in the Undertaking to
Provide Continuing Disclosure in section G have not been subjected to the auditing procedures applied in
the audit of the basic financial statements and, accordingly, we express no opinion on them.
/KA4, "i �;A,
McMahan and Associates, LLC
May 15, 2009
6 -1 -A2
MANAGEMENT'S DISCUSSION AND ANALYSIS
6 -1 -6
Town of Vail, Colorado
Management's Discussion and Analysis
December 31, 2008
As management of the Town of Vail, Colorado (the "Town "), we offer readers of the Town's financial
statements this narrative overview and analysis of the financial activities of the Town for the fiscal year
ended December 31, 2008.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the Town's basic financial
statements. The Town's basic financial statements include three components: 1) government -wide
financial statements; 2) fund financial statements; and 3) notes to the financial statements. This report
also contains other supplementary information in addition to the basic financial statements.
Financial Highlights:
• The assets of the Town exceeded its liabilities at the close of the 2008 fiscal year by $150,313,905
(net assets). Of this amount, the unrestricted net assets of $65,923,188 may be used to meet the
Town's ongoing obligations to citizens and creditors.
• The Town's total net assets increased in the 2008 fiscal year by $13,640,840 which was attributable
to an increase from governmental activities of $13,394,529 and an increase of $246,311 from
business -type activities.
• At December 31, 2008, the unrestricted and undesignated fund balance of the General Fund was
$20,770,510 or approximately 70% of total fiscal year 2008 General Fund expenditures.
Government -wide financial statements: The government -wide financial statements are designed to
provide readers with a broad overview of the Town's finances in a manner similar to a private- sector
business.
The Statement of Net Assets presents information on the Town's assets and liabilities, with the difference
between the two reported as net assets. Overtime, increases or decreases in net assets may serve as a
useful indicator of whether the financial position of the Town is improving or deteriorating.
The Statement of Activities presents information showing how the government's net assets changed
during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event
giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only result in cash flows in future fiscal
periods (e.g. uncollected grant revenues or earned but unused vacation leave.)
Both of the government -wide financial statements distinguish functions of the Town that are principally
supported by taxes and intergovernmental revenues (governmental activities) and those that are
supported by external revenues (business -type activities). The governmental activities of the Town
include general government, public safety, public works, transportation, and economic development. The
business -type activities of the Town consist of housing conducted through Timber Ridge Affordable
Housing Corporation (a component unit of the Town), and dispatch services, conducted through Vail
Public Safety Communications (an enterprise fund of the Town).
The government -wide financial statements include not only the Town itself (known as the primary
government), but also a legally separate marketing district (Vail Local Marketing District), a legally
separate urban renewal authority (Vail Reinvestment Authority), and a non - profit housing corporation
(Timber Ridge Affordable Housing Corporation) for which the Town is financially accountable. Because
these component units function for all practical purposes as departments of the Town, their financial
position and activities have been included as an integral part of the primary government.
The government -wide financial statements can be found on pages C1 and C2 of this report.
B1
6 -1 -7
Overview of the Financial Statements (continued)
Fund Financial Statements: A fund is an accounting entity that has a set of self - balancing accounts that
records all financial transactions for specific activities or governmental functions. The Town, like other
state and local governments, uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements. The Town's funds can be divided into three categories: governmental funds,
proprietary funds, and fiduciary funds.
Governmental Funds: Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements. However, unlike
government -wide financial statements, governmental fund financial statements focus on near -term inflows
and outflows of spendable resources as well as on balances of spendable resources available at the end
of the fiscal year. Such information may be useful in evaluating a government's near -term financing
requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental activities in the
government -wide financial statements. By doing so, readers may better understand the long -term impact
of the governments' near -term financing decisions. Both the governmental fund Balance Sheet and the
governmental Statement of Revenues, Expenditures and Changes in Fund Balances provide a
reconciliation to facilitate this comparison between governmental funds and governmental activities.
The Town's governmental funds include the General Fund, Debt Service Fund, Capital Projects Fund and
three Special Revenue Funds — Real Estate Transfer Tax Fund, Vail Marketing Fund and Conference
Center Fund — as well as the Vail Local Marketing District and the Vail Reinvestment Authority, which are
component units of the Town.
The Town adopts an annual appropriated budget for all governmental funds. A budgetary comparison
statement has been provided for all funds to demonstrate compliance with the state budget statute.
The basic governmental fund financial statements can be found on pages C3 and C4 of this report.
Proprietary Funds: The Town reports two categories of proprietary funds — Internal Service and
Enterprise. The Heavy Equipment Fund and Health Insurance Fund are internal service funds, while
Timber Ridge Affordable Housing Corporation, which is a component unit, and the Dispatch Services
Fund are reported as enterprise funds. As their name implies, the internal service funds provide services
to the Town's governmental activities. Timber Ridge Affordable Housing Corporation provides affordable
rental housing to people who work in Vail and the Dispatch Services Fund provides dispatch services to
emergencies service agencies throughout Eagle County. Enterprise fund functions are presented as
business -type activities in the government -wide financial statements.
Proprietary funds provide the same type of information as the government -wide financial statements, only
in more detail.
The basic proprietary fund financial statements can be found on pages C5 through C7 of this report. The
Town also presents a budgetary comparison for its proprietary funds.
Fiduciary Funds: Fiduciary funds are used to account for resources held for the benefit of parties
outside the government. Fiduciary funds are not reflected in the government -wide financial statements
because the resources of those funds are not available to support the Town's own programs. The
accounting used for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund
financial statements, for the Town's pension plan, can be found on pages C8 and C9 of this report.
Notes to the Financial Statements: The notes provide additional information that is essential to a full
understanding of the data provided in the government -wide and fund financial statements. The Notes to
the Financial Statements can be found on pages D1 through D32 of this report.
B2
6 -1-K
Overview of the Financial Statements (continued)
Government -wide Financial Analysis: As previously mentioned, the government -wide financial
statements are designed to provide readers with a broad overview and long -term analysis of the Town's
finances, in a manner similar to a private- sector business.
Net assets may serve over time as a useful indicator of a government's financial position. In the case of
the Town, governmental assets exceeded liabilities by $151,227,309 at the close of the most recent fiscal
year. Approximately 56% of the Town's net assets are invested in capital assets (land, buildings,
equipment), less related outstanding debt. Since the Town uses these capital assets to provide services
to citizens, these assets are not available for future spending, including provision of resources to repay
the debt.
The table below shows the Town's net assets for 2008 and 2007.
Town of VaiI's Net Assets
Governmental Business -type
Activities Activities Total
2008 2007 2008 2007 2008 2007
Current and Other Assets $ 78,109,018 $ 65,568,905 3,321,825 2,481,918 81,430,843 68,050,823
Capital Assets 93,425,956 91,148,565 18,242,427 18,941,053 111,668,383 110,089,618
Total Assets 171,534,974 156,717,470 21,564,252 21,422,971 193,099,226 178,140,441
Long -term Liabilities Outstanding 7,100,762 9,006,317 21,299,455 21,843,291 28,400,217 30,849,608
Other Liabilities 13,206,902 9,878,373 1,178,201 739,395 14,385,103 10,617,768
Total Liabilities 20,307,664 18,884,690 22,477,656 22,582,686 42,785,320 41,467,376
Net Assets:
Invested in capital assets, net of
related debt 85,100,956 81,027,233 (2,667,573) (1,579,702) 82,433,383 79,447,531
Restricted 1,957,334 1,910,702 - - 1,957,334 1,910,702
Unrestricted 64,169,019 54,894,845 1,754,169 419,987 65,923,188 55,314,832
Total Net Assets $ 151,227,309 137,832,780 (913,404) (1,159,715) 150,313,905 136,673,065
The Town's long -term liabilities from governmental activities decreased due to principal payments on
outstanding debt. The Town's 1998B Sales Tax Revenue Bonds were retired in 2007; the 1998A Sales
Tax Revenue Bonds were refunded December, 2008 and replaced with 2008 Sales Tax Revenue Bonds.
This refinancing provided savings to the town in future interest expense. Both the 2002B and 2008 Sales
Tax Revenue Bonds will be retired in 2012.
Long -term liabilities from business activities decreased as a result of principal payments on the
corporation's 2003B bonds. The Timber Ridge Affordable Housing 2003A bonds and note payable
mature in 2032. Additional information regarding the town's long -term debt is available on pages D21 —
D28 of this report.
B3
6 -1 -9
Overview of the Financial Statements (continued)
The chart below provides financial information from the Town's Statement of Activities for the years 2008
and 2007.
Town of Vail's Changes in Net Assets
Governmental Business -type
Activities Activities Total
2008 2007 2008 2007 2008 2007
Revenue:
Program Revenue
Charges for services $ 11,773,173 $ 13,702,631 4,446,392 4,212,852 16,219,565 17,915,483
Operating grants 1,854,144 1,250,530 607,183 586,404 2,461,327 1,836,934
Capital grants 2,182,739 2,577,262 - 33,000 2,182,739 2,610,262
General Revenue
Property and ownership tax 5,691,365 3,354,140 - 5,691,365 3,354,140
Sales and lodging tax 23,242,350 21,720,918 23,242,350 21,720,918
Other taxes 13,503,198 10,515,803 - - 13,503,198 10,515,803
Interest and other revenue 1,725,276 3,091,813 49,773 64,692 1,775,049 3,156,505
Capital contributions, net - 57,489 - - - 57,489
Transfers 75,000 (77,860) (75,000) 77,860 -
Total Revenue 60,047,245 56,192,726 5,028,348 4,974,808 65,075,593 61,167,534
Expenses:
General government 8,039,678 8,078,045 - - 8,039,678 8,078,045
Public safety 8,272,889 7,616,966 2,284,357 2,028,263 10,557,246 9,645,229
Public works and transportation 20,718,192 20,306,036 - - 20,718,192 20,306,036
Culture and recreation 5,885,254 5,039,823 5,885,254 5,039,823
Economic development 3,301,533 2,164,093 - - 3,301,533 2,164,093
Housing - - 2,497,680 2,941,828 2,497,680 2,941,828
Interest 435,170 532,190 - - 435,170 532,190
Total Expenses 46,652,716 43,737,153 4,782,037 4,970,091 51,434,753 48,707,244
Increase in Net Assets 13,394,529 12,455,573 246,311 4,717 13,640,840 12,460,290
Net Assets January 1 137,832,780 125,377,207 (1,159,715) (1,164,432) 136,673,065 124,212,775
Net Assets December 31 $ 151,227,309 137,832,780 (913,404) (1,159,715) 150,313,905 136,673,065
Governmental Activities: Governmental activities increased the Town's net assets by $13,394,529.
Key elements of this increase are as follows:
• Revenue exceeded expenditures in the General Fund, Capital Projects Fund, Real Estate Transfer
Tax Fund and Vail Reinvestment Authority Fund by $4.2 million, $.3 million, $5.5 million, and $1.0
million, respectively.
• Capital outlay exceeded depreciation during the year by $2.3 million.
• Long -term liabilities were reduced by $1.9 million through principal repayments.
Business -type Activities: Business -type activities are comprised of: Timber Ridge Affordable Housing
Corporation, a component unit of the Town established to provide affordable housing to people working in
Vail, and Vail Public Safety Communications Center, an enterprise fund providing dispatch services to
emergency service agencies throughout Eagle County.
B4
6 -1 -10
Financial Analysis of the Town's Funds
As previously mentioned, the Town uses fund accounting to ensure and demonstrate compliance with
finance - related legal requirements.
Governmental Funds: The focus of the Town's governmental funds is to provide information on near -
term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the
Town's financing requirements. In particular, fund balance may serve as a useful measure of a
government's net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, the Town's governmental funds reported combined ending fund
balances of $63,080,606 an increase of $8,685,035 from the prior year's ending fund balances. The
following details ending fund balances for the past five years:
Fund 2004 2005 2006 2007 2008
General Fund $11,053,614 $ 13,673,808 $ 15,433,051 $ 19,834,717 $ 23,002,886
Capital Projects Fund 8,190,903 10,249,191 12,216,605 12,109,128 10,906,870
Real Estate Transfer Tax 5,682,551 7,463,545 8,956,389 11,769,273 17,288,266
Conference Center Fund 5,691,334 8,237,877 8,621,901 9,046,283 9,264,476
Vail Marketing Fund 25,590 36,211 46,517 62,619 83,635
Vail Local Marketing District 488,899 696,895 825,793 1,006,736 1,026,588
Debt Service Fund 182,238 305,522 249,256 252,710 174,334
Vail Reinvestment Authority 1,252 1,203 1,833 314,105 1,333,551
Total $31,316,381 $40,664,252 $ 46,351,345 $ 54,395,571 $ 63,080,606
The General Fund and RETT Fund balances have grown steadily over the past five years, while the
Capital Projects Fund has fluctuated as funds have been spent on major projects. The Conference
Center Fund was created in 2003 to administer the sales and public accommodations taxes that went into
effect on January 1, 2003 for the purpose of building and operating a conference center in the Town.
However, the conference center taxes were rescinded as of January 1, 2006 with additional growth in the
fund balance due entirely to earnings on investments. The balance in this fund will not be spent until
there is an election concerning its use. The Vail Reinvestment Authority was added in 2004 to administer
an urban renewal authority established in the LionsHead area of the town.
B5
6 -1 -11
MAJOR FUND BALANCES
$25,000
$20,000
y
$15,000
M
y
7
$10,000
H
$5,000
$-
2004 2005 2006 2007 2008
1 0General ❑ Capital Projects ❑ Real Estate Transfer Tax ❑ Conference Center ❑AII Other
Financial Analysis of the Town's Funds (continued)
Proprietary Funds: The Town's proprietary funds provide the same type of information found in the
government -wide financial statements, but in more detail.
Unrestricted net assets for the Heavy Equipment Fund and the Dispatch Services Fund at the end of the
year were $2,006,759 and $896,585, respectively. The Health Insurance Fund net assets were
$1,339,461, all of which are restricted for the Town's self- funded health insurance program.
Budget Variances in the General Fund: General Fund revenue was higher than the amended budget
by $884,840 or 3 %, including: Construction Fees up $371,444; Franchise fess up $157,665; Ski Area Lift
Ticket Admissions Tax up $153,851 and Rents up $152,561. These revenue items were favorable mainly
due to conservative budgeting. Expenditures were below budget by $545,635 or 2 %. The majority of the
favorable spending variance was primarily due to conservative budgeting and expense savings among
several departments.
Capital Assets: The Town's government -wide capital assets, net of accumulated depreciation,
increased $2,454,773. Capital additions included streetscape improvements, the purchase of eight hybrid
buses, the buy -down of employee housing units and various other projects. Additional information as well
as a detailed classification of the Town's net capital assets can be found in the Notes to the Financial
Statements on pages D19 through D20 of this report.
Long -term Debt: As of the end of the current fiscal year, the Town had $8,325,000 in sales tax revenue
bonds outstanding, of which $1,980,000 of bond principal is due within one year. Debt related to Timber
Ridge Affordable Housing Corporation totaled $21,810,000 of which $550,000 is due within one year.
Additional information regarding the Town's debt can be found on pages D21 through D28.
Sales Tax: During 2008, the Town had a 4% general sales tax to support governmental operations,
including capital expenditures. The following chart shows changes in the general sales tax for the past
five years.
136
6 -1 -12
TOWN OF VAIL GENERAL SALES TAX
20,000,000
18,000,000
16,000,000
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
2004 2005 2006 2007 2008
Next Year's Budget and Rates: The Town's General Fund balance at the end of the current fiscal year
was $23,002,886 representing 68% of annual revenue. The Town's 2009 budget anticipates adding
$37,563 to this fund balance in 2009.
Request for information
This financial report is designed to provide a general overview of the Town's finances for all those with an
interest in the government's finances. Questions concerning any of the information provided in this report
should be addressed to the Town of Vail, Finance Director, 75 S. Frontage Road, Vail, CO 81657.
137
6 -1 -13
GOVERNMENT -WIDE FINANCIAL STATEMENTS
6 -1 -14
Town of Vail, Colorado
Statement of Net Assets
December 31, 2008
Governmental Business -type
Activities Activities Total
Assets:
Equity in pooled cash and investments 62,508,042 1,068,308 63,576,350
Unrestricted cash and investments 2,279,714 907,371 3,187,085
Cash - restricted 682,665 792,010 1,474,675
Receivables (net of allowance for uncollectible accounts):
Property taxes assessed 4,469,405 - 4,469,405
Other taxes 3,972,410 - 3,972,410
Other governments 282,970 7,501 290,471
Employees 106,059 - 106,059
Other 958,164 12,279 970,443
1 nventory 278,142 - 278,142
Prepaid expenses 247,242 29,332 276,574
Interest receivable 124,968 - 124,968
Loans receivable:
Collectible within one year 5,000 - 5,000
Collectible in more than one year 1,920,000 - 1,920,000
Bond issue costs, net of accumulated amortization 169,776 505,024 674,800
Deferred debt refunding costs 104,460 - 104,460
Property, plant, and equipment, net of accumulated
depreciation 93,425,956 18,242,427 111,668,383
Total Assets 171,534,973 21,564,252 193,099,225
Liabilities:
Accounts payable 3,963,765 71,421 4,035,186
Due to other governments 3,430 - 3,430
Retainage payable 320,932 - 320,932
Accrued salaries and wages 751,782 89,031 840,813
Interest payable 6,576 175,669 182,245
Deferred property taxes 4,469,405 - 4,469,405
Other deferred revenue 456,327 243,026 699,353
Deposits payable 577,622 22,750 600,372
Debt issuance premium 203,221 - 203,221
Compensated absences:
Due within one year 473,842 26,304 500,146
Due in more than one year 755,762 39,455 795,217
Bonds payable:
Due within one year 1,980,000 550,000 2,530,000
Due in more than one year 6,345,000 19,360,000 25,705,000
Notes payable - 1,900,000 1,900,000
Total Liabilities 20,307,664 22,477,656 42,785,320
Net Assets:
Invested in capital assets, net of related debt 85,100,956 (2,667,573) 82,433,383
Restricted for:
Debt service 174,334 - 174,334
Emergencies 1,783,000 - 1,783,000
Unrestricted 64,169,019 1,754,169 65,923,188
Total Net Assets 151,227,309 (913,404) 150,313,905
The accompanying notes are an integral part of these financial statements.
6 -IC15
Town of Vail, Colorado
Statement of Activities
For the Year Ended December 31, 2008
Net (Expense) Revenue and
Program Revenues Changes in Net Assets
Operating Capital
Charges for Grants and Grants and Governmental Business -type
Expenses Services Contributions Contributions Activities Activities Total
Functions /Programs:
Governmental Activities:
General government 8,039,678 5,857,528 - (2,182,150) (2,182,150)
Public safety 8,272,889 530,817 1,268 - (7,740,804) (7,740,804)
Public works and transportation 20,718,192 4,931,513 1,613,080 2,143,637 (12,029,962) (12,029,962)
Culture and recreation 5,885,254 140,476 209,862 39,102 (5,495,814) (5,495,814)
Economic development 3,301,533 312,839 29,934 - (2,958,760) (2,958,760)
Interest on long -term debt 435,170 (435,170) (435,170)
Total Governmental Activities 46,652,716 11,773,173 1,854,144 2,182,739 (30,842,660) (30,842,660)
Business -type activities:
Dispatch services 2,284,357 1,583,603 607,183 - (93,571) (93,571)
Housing 2,497,680 2,862,789 - 365,109 365,109
Total Business -type Activities 4,782,037 4,446,392 607,183 271,538 271,538
Total 51,434,753 16,219,565 2,461,327 2,182,739 (30,842,660) 271,538 (30,571,122)
General Revenues:
Taxes:
Sales taxes 21, 063, 050 21, 063, 050
Real estate transfer taxes 9,091,917 9,091,917
Lodging taxes 2,179,300 2,179,300
Property and specific ownership taxes 5,691,365 5,691,365
Ski area lift ticket admissions tax 3,277,703 3,277,703
Franchise taxes 1,052,665 1,052,665
Cigarette taxes 80,913 80,913
Investment earnings 1,530,904 39,924 1,570,828
Gain on sale of capital assets 78,649 78,649
Miscellaneous 115,723 9,849 125,572
Transfers 75,000 (75,000) -
Total General Revenues and Transfers 44,237,189 (25,227) 44,211,962
Change in Net Assets 13,394,529 246,311 13,640,840
Net Assets - January 1 137,832,780 (1,159,715) 136,673,065
Net Assets - December 31 151,227,309 (913,404) 150,313,905
The accompanying notes are an integral part of these financial statements.
C2
6 -1 -16
FUND FINANCIAL STATEMENTS
6 -1 -17
Town of Vail, Colorado
Balance Sheets
Governmental Funds
December 31, 2008
Capital Real Estate Conference Vail Vail Local Vail Debt Total
General Projects Transfer Tax Center Marketing Marketing Reinvestment Service Governmental
Fund Fund Fund Fund Fund District Authority Fund Funds
Assets:
Equity in pooled cash and investments 24,362,122 6,400,243 18,613,490 9,264,476 82,593 - - 228,650 58,951,574
Cash and cash equivalents- Unrestricted 14,185 - - - - 931,978 1,333,551 - 2,279,714
Receivables, net of allowance for uncollectible
accounts:
Property taxes assessed 4,469,405 - - - - - - - 4,469,405
Othertaxes 735,032 2,749,497 103,002 - - 384,879 - - 3,972,410
Other governments - 282,970 - - - - - - 282,970
Employees 106,059 - - - - - - - 106,059
Other 187,839 752,033 - - 1,042 4,226 - - 945,140
Loans receivable - 1,925,000 - - - - - - 1,925,000
Prepaid expenses 238,557 7,500 246,057
Total Assets 30,113,199 12,109,743 18,716,492 9,264,476 83,635 1,328,583 1,333,551 228,650 73,178,329
Liabilities and Fund Equity:
Liabilities:
Accounts payable 1,178,449 784,617 1,230,840 - - 301,995 - 54,316 3,550,217
Due to other governments 3,430 - - - - - - - 3,430
Retainage payable - 140,283 180,649 - - - - - 320,932
Accrued payroll and related liabilities 700,776 2,277 16,737 - - - - - 719,790
Deferred revenue 180,631 275,696 - - - - - - 456,327
Deferred property taxes not
collectible until subsequent year 4,469,405 - - - - - - - 4,469,405
Deposits payable 577,622 577,622
Total Liabilities 7,110,313 1,202,873 1,428,226 301,995 54,316 10,097,723
Fund Balances:
Reserved for
Prepaid expenses 238,557 - - - - 7,500 - - 246,057
Loans receivable - 1,925,000 - - - - - - 1,925,000
Retirement of bonded debt - - - - - - - 174,334 174,334
Emergencies 1,700,000 - - - - 83,000 - - 1,783,000
Unreserved:
Designated for housing loan program 200,000 - - - - - - - 200,000
Designated for police seizures 93,819 - - - - - - - 93,819
Designated for subsequent years'. expenditures - 3,394,180 - - - - - - 3,394,180
Undesignated 20,770,510 5,587,690 17,288,266 9,264,476 83,635 936,088 1,333,551 55,264,216
Total Fund Balances 23002,886 10,906,870 17,288,266 9,264,476 83,635 1,026,588 1,333,551 174,334 63,080,606
Total Liabilities and Fund Balances 30,113,199 12,109,743 18,716,492 9,264,476 83,635 1,328,583 1,333,551 228,650
Amounts reported for governmental activities in the Statement
of Net Assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. 90,360,981
Other long -term assets are not available for current period expenditures and, therefore, are not reported in the funds. 1,081,871
Internal service funds are used by management to charge the costs of heavy equipment and health insurance to individual funds.
The assets and liabilities of the internal service funds are included in governmental activities in the Statement of Net Assets. 6,411,195
Long -term liabilities, including bonds payable, interest payable, and compensated absences, are not due and payable
in the current period and, therefore, are not reported in the funds. (9,707,344)
Net Assets of Governmental Activities 151,227,309
The accompanying notes are an integral part of these financial statements
C3
6 -1 -18
Town of Vail, Colorado
Statement of Revenues, Expenditures Changes in Fund Balances
Governmental Funds
For the Year Ended December 31, 2008
Capital Real Estate Conference Vail Vail Local Vail Debt Total
General Projects Transfer Tax Center Marketing Marketing Reinvestment Service Governmental
Fund Fund Fund Fund Fund District Authority Fund Funds
Revenues:
Taxes 20,302,534 8,780,403 9,091,917 - - 2,179,300 1,376,171 - 41,730,325
Permits and licenses 3,903,026 - - - 312,839 - - - 4,215,865
Intergovernmental revenue 1,706,197 869,177 26,914 - - - - - 2,602,288
Charges for services 7,163,907 200,359 176,832 - - - - - 7,541,098
Investment income 571,072 211,065 346,452 218,193 3,819 8,877 15,062 50,830 1,425,370
Miscellaneous 163,025 1,664,280 147,563 29,935 2
Total Revenues 33,809,761 11,725,284 9,789,678 218,193 316,658 2,218,112 1,391,233 50,830 59,519,749
Expenditures:
General government 7,715,791 - - - 15,642 - - 2,500 7,733,933
Public safety 7,624,590 - 209,750 - - - - - 7,834,340
Public works and transportation 11,779,063 11,416,938 - - - - - - 23,196,001
Culture and recreation 2,531,148 - 4,060,935 - - - - - 6,592,083
Economic development - - - - 280,000 2,748,260 371,787 - 3,400,047
Debt service:
Principal - - - - - - - 1,890,000 1,890,000
Interest 432,395 432,395
Total Expenditures 29,650,592 11,416,938 4,270,685 295,642 2,748,260 371,787 2,324,895 51
Excess (Deficiency) of Revenues
Over Expenditures 4,159,169 308,346 5,518,993 218,193 21,016 (530,148) 1,019,446 (2,274,065) 8,440,950
Other Financing Sources (Uses):
Sale of assets - 178,066 - - - - - - 178,066
Debt proceeds, net - - - - - - - (8,981) (8,981)
Transfers in - 516,000 - - - 550,000 - 2,204,670 3,270,670
Transfers (out) (991,000) (2,204,670) (3,195,670)
Total Other Financing Sources (Uses) (991,000) (1,510,604) 550,000 2,195,689 244,085
Net Change In Fund Balances 3,168,169 (1,202,258) 5,518,993 218,193 21,016 19,852 1,019,446 (78,376) 8,685,035
Fund Balances - January 1 19,834,717 12,109,128 11,769,273 9,046,283 62,619 1,006,736 314,105 252,710 54,395,571
Fund Balances - December 31 23,002,886 10,906,870 17,288,266 9,264,476 83,635 1,026,588 1,333,551 174,334 63,080,606
Net Change in Fund Balances of Governmental Funds 8,685,035
Amounts reported for governmental activities in the Statement of Activities are different because:
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated
over their estimated useful lives as depreciation expenses. This is the amount by which capital outlay exceeded depreciation during the year. 2,338,744
In the Statement of Activities, only the gain or loss on sale and disposal of assets is reported, whereas, in the governmental funds, only
the proceeds which increase current available resources is reported. This amount is the net book value of disposed assets. (175,819)
Repayment of bond and lease principal are expenditures in the governmental funds, but the repayment reduces long -term liabilities in the
Statement of Net Assets. This is the amount of principal repayments. 1,890,000
Internal service funds are used by management to charge the cost of heavy equipment and health insurance to
individual funds. This is the amount of internal service fund change in net assets for the year. 791,054
Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. 59,599
Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported
as expenditures in governmental funds. (194,084)
Change in Net Assets of Governmental Activities 13,394,529
The accompanying notes are an integral part of these financial statements
C4
6 -1 -19
Town of Vail, Colorado
Proprietary Funds
Statement of Net Assets
December 31, 2008
Business -type Activities
Enterprise Fund - Enterprise Fund - Governmental
Timber Ridge Dispatch Activities -
Affordable Housing Services Internal
Corporation Fund TOTAL Service Funds
Assets:
Current Assets:
Equity in pooled cash and investments - 1,068,308 1,068,308 3,556,468
Cash and cash equivalents - Unrestricted 907,371 - 907,371 -
Accounts receivable , net of allowance for uncollectibles 12,279 7,501 19,780 13,024
Inventory - - - 278,142
Prepaid expenses 29,332 29,332 1,185
Total Current Assets 948,982 1,075,809 2,024,791 3,848,819
Non - current Assets:
Cash and cash equivalents - Restricted 792,010 792,010 -
Bond issue costs, net of accumulated amortization 505,024 - 505,024 -
Property, plant, and equipment, net of accumulated
depreciation 17,143,169 1,099,258 18,242,427 3,064,975
Total Non - current Assets 18,440,203 1,099,258 19,539,461 3,064,975
Total Assets 19,389,185 2,175,067 21,564,252 6,913,794
Liabilities:
Current Liabilities:
Accounts payable 46,987 24,434 71,421 413,548
Tenant security deposits 22,750 - 22,750 -
Deferred revenue 243,026 243,026
Accrued interest payable 175,669 - 175,669 -
Accrued salaries and wages - 89,031 89,031 31,992
Current portion of bonds payable 550,000 - 550,000 -
Current portion of compensated absences - 26,304 26,304 22,824
Total Current Liabilities 1,038,432 139,769 1,178,201 468,364
Non - current Liabilities:
Bonds payable, net of current portion 19,360,000 - 19,360,000 -
Notes payable 1,900,000 - 1,900,000 -
Compensated absences, net of current portion - 39,455 39,455 34,235
Total Non - current Liabilities 21,260,000 39,455 21,299,455 34,235
Total Liabilities 22,298,432 179,224 22,477,656 502,599
Net Assets (Deficit):
Invested in capital assets, net of related debt (3,766,831) 1,099,258 (2,667,573) 3,064,975
Unrestricted 857,584 896,585 1,754,169 3,346,220
Total Net Assets (Deficit) (2,909,247) 1,995,843 (913,404) 6,411,195
The accompanying notes are an integral part of these financial statements
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Town of Vail, Colorado
Proprietary Funds
Statement of Revenues, Expenses and Changes in Fund Net Assets
For the Year Ended December 31, 2008
Business -type Activities
Enterprise Fund - Enterprise Fund - Governmental
Timber Ridge Dispatch Activities -
Affordable Housing Services Internal
Corporation Fund TOTAL Service Funds
Operating Revenues:
Charges for services - Internal 533,164 533,164 5,461,787
Charges for services - External - 1,050,439 1,050,439 286,058
Rent 2,830,033 - 2,830,033 -
Laundry room lease 32,756 32,756 -
Insurance reimbursements - - - 145,681
Other 2,348 7,500 9,848 77,613
Total Operating Revenues 2,865,137 1,591,103 4,456,240 5,971,139
Operating Expenses:
Operations 1,400,098 2,058,224 3,458,322 2,329,815
Health claims and premiums - - - 2,478,828
Depreciation - 226,133 226,133 569,560
Total Operating Expenses 1,400,098 2,284,357 3,684,455 5,378,203
Operating Income (Loss) 1,465,039 (693,254) 771,785 592,936
Non - Operating Revenues (Expenses):
Intergovernmental revenues - 607,183 607,183 -
Gain (loss) on disposal of assets - - - 76,402
Investment income 21,161 18,763 39,924 77,035
Interest expense reimbursement - rate cap agreement (769,652) - (769,652) -
Interest expense (274,059) (274,059)
Financing fees -
Amortization of bond issue costs (53,871) - (53,871)
Total Non - Operating Revenues (Expenses) (1,076,421) 625,946 (450,475) 153,437
Income (Loss) Before Capital Contributions 388 (67,308) 321,310 746,373
Transfers, Net - (75,000) (75,000) -
Capital Contributions, Net - 44,681
Change in Net Assets 388 (142,308) 246,310 791,054
Net Assets (Deficit) - January 1 (3,297,865) 2,138,151 (1,159,714) 5,620,141
Net Assets (Deficit) - December 31 (2,909,247) 1,995,843 (913,404) 6,411,195
The accompanying notes are an integral part of these financial statements
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Town of Vail, Colorado
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2008
Business -type Activities
Enterprise Fund - Enterprise Fund - Governmental
Timber Ridge Dispatch Activities -
Affordable Housing Services Internal
Corporation Fund TOTAL Service Funds
Cash Flows From Operating Activities:
Cash received from other funds - 525,664 525,664 5,461,787
Cash received from tenants for rent 2,883,418 - 2,883,418 -
Cash received from (refunded to) tenants for security deposits, net 4,300 - 4,300 -
Othercashreceipts 35,104 1,057,939 1,093,043 516,924
Cash paid for goods and services (948,468) (445,292) (1,393,760) (3,878,279)
Cash paid to employees - (1,532,168) (1,532,168) (892,769)
Net Cash Provided (Used) by Operating Activities 1,974,354 (393,857) 1,580,497 1,207,663
Cash Flows From Non - Capital Financing Activities:
Transfer (to) other funds - (75,000) (75,000) -
Cash received from operating grants 607,183 607,183
Net Cash Provided by Non - Capital Financing Activities - 532,183 532,183 -
Cash Flows From Capital and Related Financing Activities:
Cash received from sale of fixed assets - - 77,964
Principal repaid on bonds and notes (155,000) (155,000) -
Cash drawn on line of credit 651,984 651,984
Repayments of amounts drawn on line of credit (651,984) (651,984)
Interest paid (778,483) (778,483)
Financing fees paid (282,731) (282,731)
Acquisition and construction of capital assets (50,121) (50,121) (640,907)
Net Cash (Used) by Capital and Related Financing Activities (1,216,214) (50,121) (1,266,335) (562,943)
Cash Flows From Investing Activities:
Interest on investments 21,161 18,763 39,924 77,035
Purchase of fixed assets - - - -
Net Cash Provided by Investing Activities 21,161 18,763 39,924 77,035
Net Increase (Decrease) in Cash and Cash Equivalents 779,301 106,968 886,269 721,755
Cash and Cash Equivalents - Beginning 920,080 961,340 1,881,420 2,834,713
Cash and Cash Equivalents - Ending 1,699,381 1,068,308 2,767,689 3,556,468
Cash and Cash Equivalents - End of Period is Comprised of:
Equity in pooled cash and investments - 1,068,308 1,068,308 3,556,468
Cash and cash equivalents - Unrestricted 907,371 - 907,371 -
Cash and cash equivalents - Restricted 792,010 792,010 -
Total -Cash and Cash Equivalents 1,699,381 1,068,308 2,767,689 3,556,468
Reconciliation of Operating (Loss) to Net Cash
Provided by Operating Activities:
Operating Income /(Loss) 1,465,039 (693,254) 771,785 592,936
Adjustments:
Depreciation 522,614 226,133 748,747 569,560
(Increase) decrease in accounts receivable 6,860 (7,501) (641) 7,572
(Increase) decrease in inventory - - 15,142
(Increase) decrease in prepaid expenses 7,783 - 7,783 15,991
Increase (decrease) in accounts payable (77,566) 14,476 (63,090) (13,415)
Increase (decrease) in other liabilities 49,624 - 49,624 -
Increase (decreases) in accrued wages and benefits - 66,289 66,289 19,877
Total Adjustments 509,315 299,397 808,712 614,727
Net Cash Provided (Used) by Operating Activities 1,974,354 (393,857) 1,580,497 1,207,663
Schedule of Non -Cash Investing, Capital and Financing Activities:
Assets donated by Capital Projects Fund - - 44,681
Total - Non -Cash Investing, Capital and Financing Activities: - - - 44,681
The accompanying notes are an integral part of these financial statements
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Town of Vail, Colorado
Fiduciary Funds
Statement of Fiduciary Net Assets
December 31, 2008
Deferred
Pension Compensation
Trust Plan
Assets:
Cash and investments - Restricted 30,057,847 5,130,875
Loans to participants 380,926 -
Total Assets 30,438,773 5,130,875
Net Assets:
Held in trust for pension benefits and
other purposes 30,438,773 5,130,875
Total Net Assets 30,438,773 5,130,875
The accompanying notes are an integral part of these financial statements
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Town of Vail, Colorado
Fiduciary Funds
Statement of Changes in Fiduciary Net Assets
For the Year Ended December 31, 2008
Deferred
Pension Compensation
Trust Plan
Additions:
Contributions 2,817,726 809,567
Investment Income / (Loss) (11,325,863) (1,830,485)
Total Additions (8,508,137) (1,020,918)
Deductions:
Professional fees 3,743 4,897
Benefits paid 2,589,600 205,266
Total Deductions 2,593,343 210,163
Change in Net Assets (11,101,480) (1,231,081)
Net Assets - January 1 41,540,253 6,361,956
Net Assets - December 31 30,438,773 5,130,875
The accompanying notes are an integral part of these financial statements
C9
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NOTES TO THE FINANCIAL STATEMENTS
6 -1 -25
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
I. Summary of Significant Accounting Policies
The Town of Vail, Colorado (the "Town ") was incorporated in 1972, under the provisions of Article
XX of the Colorado Constitution and Municipal Home Rule Act of 1971. The Town operates
under a Council- Manager form of government. The Town's major operations include public
safety, public works and transportation, culture and recreation, economic development,
administration (general government), and housing.
The Town's financial statements are prepared in accordance with generally accepted accounting
principles ( "GAAP "). The Governmental Accounting Standards Board ( "GASB ") is responsible for
establishing GAAP for state and local governments through its pronouncements (Statements and
Interpretations). Governments are also required to follow the pronouncements of the Financial
Accounting Standards Board ( "FASB ") issued through November 30, 1989, when applicable, that
do not conflict with or contradict GASB pronouncements. The more significant accounting
policies established by GAAP used by the Town are discussed below.
A. Reporting Entity
The reporting entity consists of (a) the primary government; i.e., the Town, and (b)
organizations for which the Town is financially accountable. The Town is considered
financially accountable for legally separate organizations if it is able to appoint a voting
majority of an organization's governing body and is either able to impose its will on that
organization or there is a potential for the organization to provide specific financial
benefits to, or to impose specific financial burdens on, the Town. Consideration is also
given to other organizations which are fiscally dependent; i.e., unable to adopt a budget,
levy taxes, or issue debt without approval by the Town. Organizations for which the
nature and significance of their relationship with the Town are such that exclusion would
cause the reporting entity's financial statements to be misleading or incomplete are also
included in the reporting entity.
The accompanying financial statements present the primary government and its
component units, entities for which the government is considered to be financially
accountable. Blended component units, although legally separate entities, are, in
substance, part of the Town's operations. There are three blended component units
reported in the Town's financial statements: Vail Local Marketing District (the "District "),
Timber Ridge Affordable Housing Corporation (the "Corporation ") and Vail Reinvestment
Authority (the "Authority "). The financial statements of theses entities can be obtained
from the Town's administrative offices. A fourth blended component unit, the Town of
Vail General Improvement District No. 1, is a dormant entity and, therefore, has no
financial statements to report.
1. Vail Local Marketing District
The District was authorized on November 2, 1999 by a general election that
established a 1.4% tax on lodging within the Town's boundaries, beginning
January 1, 2000. Proceeds from the tax are to be used for organization,
management, promotion, and marketing of public events, for business
recruitment, and for tourism promotion. Town Council members also act as the
District's Board of Directors. The District is reported as a special revenue fund.
D1
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
A. Reporting Entity (continued)
2. Timber Ridge Affordable Housing Corporation
The Corporation was incorporated on July 9, 2003 as a Colorado non - profit
corporation to provide affordable housing for persons employed in the Town or
Eagle County, Colorado. The Corporation owns and operates, exclusively on
behalf of and for the benefit of the Town, a 198 -unit rental housing project (the
"Project ") located in the Town.
The formation of the Corporation was approved by the Town, and its operations
are governed by a Board of Directors comprised, as of March 2005, of members
of the Town's management team. Previously, the Board was comprised solely of
members of the Town Council. Upon dissolution of the Corporation and
retirement of all liabilities, all property of the Corporation is to be transferred to
the Town. The acquisition of the Project was financed through the issuance of
revenue bonds and a note payable to the Town. While the Town is not legally
obligated to pay the indebtedness of the Corporation, the Town has agreed to
consider providing funds, if needed, to the Corporation to make the scheduled
debt service payments of the Corporation. The Town has a right to obtain title to
the Project at any time by defeasing all outstanding bonds of the Corporation.
The Corporation is reported as an enterprise fund.
The Corporation's total revenues exceeded expenditures by $388,618 for 2008.
This helped to improve the Corporation's deficit net assets balance accumulated
in the period from inception of operations, July 17, 2003 to December 31, 2008.
The net asset deficit totals $2,909,247 as of December 31, 2008. Since the
inception of operations, the Corporation has incurred mold remediation costs
totaling $1,417,292, of which the majority of expenses were incurred prior to
2007. As of January, 2007, all 198 units at the Project had been renovated.
In addition to limitations on the Corporation's revenue base, the Corporation has
substantial long -term debt obligations. As detailed in Note IV.G.1., a significant
portion of the Corporation's bonds currently bear a variable weekly interest rate.
Short -term interest rates have fluctuated since the issuance of these bonds. The
Corporation's Rate Protection Agreement outlined in Note IV. J. below, has
limited the Corporation's effective interest rate on the 2003A Bonds to 5.5% per
annum. While short -term interest rates have stabilized below the current rate
cap threshold, any significant increase in rates could have an adverse impact on
the Corporation's cash flow.
During 2005 and 2006, the Corporation was advanced $700,000 and $200,000
respectively, by the Town. This additional funding helped improve the
Corporation's year -end liquidity position, although current liabilities continue to
exceed current assets. There have been no additional advances from the Town.
D2
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
A. Reporting Entity (continued)
2. Timber Ridge Affordable Housing Corporation (continued)
In 2007, the Board commissioned an engineering study and began a capital
maintenance and replacement program to address the deteriorating condition of
the property. The Replacement Reserve Fund is used to fund the program.
The Board considers the above factors significant to its future operations. The
Board and Town still intend to redevelop the property, with request for proposals
under review as of April, 2009.
The Board also projects that, under current master lease agreements, rental
revenues will be sufficient to cover operating expenses, debt service and rate
cap reserves for the next several years.
3. Vail Reinvestment Authority
The Authority was created on November 4, 2003 pursuant to the Colorado Urban
Renewal Law (C.R.S. 31 -25 -1) to oversee development and redevelopment of
identified blighted areas within the Town. The Town Council approved the
formation of the Authority at a public hearing, and filed applicable certification of
compliance with the Division of Local Government. Its operations are governed
by a Board of Commissioners comprised solely of members of the Town Council.
The Authority is reported as a special revenue fund.
4. Town of Vail General Improvement District No. 1
On October 3, 2006, the Town Council accepted a petition requesting formation
of the Town of Vail Public Improvement District No. 1. The District is a public, or
quasi - municipal subdivision of the state of Colorado and a body corporate with
the powers set forth in Part 6, Article 25, Title 31 of the Colorado Revised
Statutes. The Town Council is the ex officio Board of Directors of the District.
Services provided by the District include (a) programming, regulating, and
generally administering public functions to be conducted on the public plaza
which will be constructed as part of the Solaris redevelopment project and (b)
maintaining the plaza to the extent that the Solaris Metropolitan District fails to do
so.
At a special election on November 7, 2006, the eligible electors of the District
authorized imposition of a mill levy of not more than fifteen mills in any year for
the purpose of funding the administration, operation, and maintenance of the
District's facilities should the Solaris Metropolitan District fail to do so.
As of December 31, 2008, the District had not begun operations or imposed a
mill levy, resulting in no financial statements to be reported.
D3
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
B. Government -wide and Fund Financial Statements
The Town's basic financial statements include both government -wide (reporting the Town
as a whole) and fund financial statements (reporting the Town's major funds).
Government -wide financial statements report on information of all of the nonfiduciary
activities of the Town and its component units. Both the government -wide and fund
financial statements categorize primary activities as either governmental or business -
type. The Town's public safety, public works and transportation, culture and recreation,
economic development, and administration functions are classified as governmental
activities. The Corporation and emergency dispatch services of the Town are classified
as business -type activities.
The government -wide Statement of Activities reports both the gross and net cost of each
of the Town's governmental functions and business -type activities. The governmental
functions are also supported by general government revenues (sales taxes, property and
specific ownership taxes, investment earnings, etc.). The Statement of Activities reduces
gross expenses (including depreciation) by related program revenues, operating and
capital grants. Program revenues must be directly associated with the governmental
function or a business -type activity. Operating grants include operating- specific and
discretionary (either operating or capital) grants while the capital grants column reflects
capital- specific grants.
The government -wide focus is on the sustainability of the Town as an entity and the
change in the Town's net assets resulting from the current year's activities.
C. Fund Financial Statements
The financial transactions of the Town are reported in individual funds in the fund
financial statements. Each fund is accounted for by providing a separate set of self -
balancing accounts that comprises its assets, liabilities, fund equity, revenues and
expenditures /expenses.
The fund focus is on current available resources and budget compliance.
The Town reports the following major governmental funds:
The General Fund is the Town's primary operating fund. It accounts for all
financial resources of the Town, except those required to be accounted for in
another fund.
The Capital Projects Fund accounts for a portion of the Town's sales tax and
intergovernmental revenue which are restricted for the acquisitions of and
improvements to the Town's governmental assets.
The Real Estate Transfer Tax Fund is used to account for the collection of a real
estate transfer tax which is specifically restricted for acquiring, maintaining, and
improving real property for parks, recreation, open space and similar purposes.
The Conference Center Fund was established to account for the collection of a
sales tax and a public accommodations tax which were specifically restricted for
the financing of the construction and operations of a conference center in the
Town.
D4
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
C. Fund Financial Statements (continued)
The conference center taxes were rescinded by election in November,
2005. A TABOR election is required to release conference center funds for any
purpose.
The Vail Marketing Fund accounts for the collection of business license fees
which are specifically restricted for expenditures related to the marketing of the
Town.
The Vail Local Marketing District is used to account for the activities of the
District.
The Vail Reinvestment Authority is used to account for the activities of the
Authority.
The Town reports the following major proprietary or business -type funds:
Timber Ridge Affordable Housing Corporation accounts for the activities of the
Corporation.
The Dispatch Services Fund accounts for the emergency dispatch services
provided by the Town within Eagle County, Colorado.
Additionally, the Town reports the following fund types:
Internal service funds account for the repair and maintenance costs and
purchase of Town vehicles and equipment, excluding buses and fire trucks. In
addition, internal service funds are used to account for the health insurance plan
provided to Town employees.
Trust funds are used to account for the accumulation of resources for pension
benefit payments to qualified Town employees and to account for assets held for
employees in accordance with the provisions of Internal Revenue Code section
457.
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Measurement focus refers to whether financial statements measure changes in current
resources only (current financial focus) or changes in both current and long -term
resources (long -term economic focus). Basis of accounting refers to the point at which
revenues, expenditures, or expenses are recognized in the accounts and reported in the
financial statements. Financial statement presentation refers to classification of revenues
by source and expenses by function.
1. Long -term Economic Focus and Accrual Basis
Both governmental and business -type activities in the government -wide financial
statements and the proprietary and fiduciary fund financial statements use the
long -term economic focus and are presented on the accrual basis of accounting.
Revenues are recognized when earned and expenses are recognized when
incurred, regardless of the timing of the related cash flows.
D5
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
(continued)
2. Current Financial Focus and Modified Accrual Basis
The governmental fund financial statements use the current financial focus and
are presented on the modified accrual basis of accounting. Under the modified
accrual basis of accounting, revenues are recorded when susceptible to accrual;
i.e., both measurable and available. "Available" means collectible within the
current period or soon enough thereafter (60 days) to be used to pay liabilities of
the current period. Expenditures are generally recognized when the related
liability is incurred. The exception to this general rule is that principal and interest
on general long -term debt and compensated absences are recorded only when
payment is due.
3. Financial Statement Presentation
Amounts reported as program revenues include 1) charges to customers and
applicants for goods, services or privileges provided, 2) operating grants and
contributions and 3) capital grants and contributions, including special
assessments. Internally dedicated resources are reported as general revenues
rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non -
operating items. Operating revenues and expenses generally result from
providing services and producing and delivering goods in connection with a
proprietary fund's principal ongoing operations. The principal operating revenue
of the Town's enterprise funds are rents from individuals employed in the Town
and charges for services related to emergency dispatch. Operating expenses for
the enterprise fund includes operating expenses and depreciation on capital
assets. All revenues and expenses not meeting this definition are reported as
nonoperating revenues and expenses.
E. Financial Statement Accounts
1. Equity in Pooled Cash and Investments
The Town has a policy of central cash management for all funds except the
Pension Trust Fund and the Deferred Compensation Plan Fund. In addition, the
component units do not participate in the Town's central cash management.
Equity in pooled cash and investments include demand deposits, short -term
investments with original maturities of three months or less from the date of
acquisition, and long -term investments in U.S. government obligations.
Investments are stated at fair market value.
D6
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
E. Financial Statement Accounts (continued)
2. Cash and Cash Equivalents
Cash and cash equivalents include cash on hand and investments with original
maturities of three months or less from the date of acquisition.
Restricted cash and cash equivalents represent amounts restricted by bond
indentures and other binding commitments.
3. Receivables
Receivables are reported net of an allowance for uncollectible accounts.
4. Property Taxes
Property taxes are assessed in one year as a lien on the property, but not
collected by the governmental unit until the subsequent year. In accordance with
GAAP, the assessed but uncollected property taxes have been recorded as a
receivable and as deferred revenue.
5. Inventory
Inventory is valued at lower of cost or market using the first -in, first -out method.
Inventory in the Heavy Equipment Fund consists of expendable supplies held for
consumption.
6. Prepaid Expenses
Payments made to vendors for services that will benefit periods beyond
December 31, 2008 are recorded as prepaid expenses.
7. Bond Issuance Costs
Issuance costs for bonds payable are deferred and amortized over the term of
the loan using the straight -line method for governmental activities.
The Corporation uses the bonds outstanding method, which approximates the
effective interest method, to amortize these costs.
8. Interfund Receivables and Payables
Balances at year -end between funds are reported as "due to / from other funds"
in the fund financial statements. Any residual balances not eliminated between
the governmental and business -type activities are reported as "internal balances"
in the government -wide financial statements.
D7
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
E. Financial Statement Accounts (continued)
9. Capital Assets
Capital assets, which include land, buildings, improvements, equipment, vehicles
and infrastructure assets, are reported in the applicable governmental or
business -type activity columns in the government -wide financial statements.
Capital assets are defined by the Town as assets with an initial cost of $5,000 or
more and an estimated useful life in excess of one year. Such assets are
recorded at cost where historical records are available and at an estimated
historical cost where no historical record exists. Donated capital assets are
recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the
asset or materially extend asset lives are not capitalized. Improvements are
capitalized and depreciated over the remaining useful lives of the related fixed
assets, as applicable.
Capital outlay for projects is capitalized as projects are constructed. Interest
incurred during the construction phase is capitalized as part of the value of the
assets.
Capital assets (excluding land) are depreciated using the straight -line method.
10. Bond Premiums and Discounts
Bonds payable are reported net of the applicable bond premium or discount. No
amortization was taken on these premiums or discounts in the first year. These
premiums and discounts are amortized over the life of the applicable bonds using
the bond outstanding method.
11. Deferred Revenue
For governmental funds, deferred revenues arise when potential revenue does
not meet both the "measurable" and "available" criteria for recognition in the
current period. For proprietary funds, deferred revenues arise when potential
revenue is unearned.
In subsequent periods, when revenue recognition criteria are met, or when the
Town has legal claim to the resources, the liability for deferred revenue is
removed and revenue is recognized.
12. Compensated Absences
Vested or accumulated vacation leave that is expected to be liquidated with
expendable available financial resources is reported as expenditure and a fund
liability of the governmental fund that will pay it. Amounts of vested or
accumulated vacation leave that are not expected to be liquidated with
expendable available financial resources are reported in the governmental
activities column in the government -wide financial statements. Vested or
accumulated vacation leave of the proprietary fund type is recorded as an
expense and liability of that fund as the benefits accrue to employees.
D8
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
E. Financial Statement Accounts (continued)
12. Compensated Absences (continued)
In accordance with the provisions of GASB Statement No. 16, Accounting for
Compensated Absences, no liability is recorded for non - vesting accumulating
rights to receive sick pay benefits.
13. Fund Equity
Governments report reservations of fund balance for amounts that are not
available for appropriation or are legally restricted by outside parties for use for a
specific purpose. At December 31, 2008, the Town reported $1,957,334 of
restricted net assets which was comprised of $174,334 restricted for debt service
payments and $1,783,000 restricted for emergencies (as subsequently explained
in Notes III.E. and F.).
Designations of fund balance represent tentative management plans that are
subject to change. Designations of fund balance are reported only on fund
financials and not on the government -wide financial statements.
14. Interfund Transactions
Quasi - external transactions are accounted for as revenues, expenditures or
expenses. Transactions that constitute reimbursements to a fund for
expenditures or expenses initially made from it that are properly applicable to
another fund, are recorded as expenditures or expenses in the reimbursing fund
and as reductions of expenditures or expenses in the fund that is reimbursed. All
other interfund transactions, except quasi - external transactions and
reimbursements, are reported as transfers.
F. Significant Accounting Policies
1. Use of Estimates
The preparation of financial statements in conformity with GAAP requires the
Town's management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, the disclosure of contingent assets and
liabilities at the date of the financial statements, and the reported amount of
revenues and expenditures or expenses during the reporting period. Actual
results could differ from those estimates.
2. Proprietary Funds
As required by GASB Statement No. 20, Accounting and Financial Reporting for
Proprietary Funds and Other Governmental Entities that use Proprietary Fund
Accounting, the Town has elected to follow for its proprietary funds, all (1) GASB
pronouncements and (2) FASB Statements and Interpretations, APB Opinions,
and Accounting Research Bulletins issued on or before November 30, 1989,
except those that conflict with a GASB pronouncement.
D9
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
I. Summary of Significant Accounting Policies (continued)
F. Significant Accounting Policies
3. Credit Risk
The receivables of the various funds of the Town are primarily due from other
governments. Management believes that the credit risk related to the
receivables is minimal.
4. Restricted and Unrestricted Resources
When both restricted and unrestricted resources are available for use, it is the
government's policy to use restricted resources first, then unrestricted resources
as they are needed.
II. Reconciliation of Government -wide and Fund Financial Statements
A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet
and the Government -wide Statement of Net Assets
The governmental fund Balance Sheet includes reconciliation between the fund balance
of total governmental funds and net assets of governmental activities as reported in the
government -wide Statement of Net Assets. One element of that reconciliation explains
"Capital assets used in governmental activities are not financial resources and therefore
are not reported in the funds ". This $90,360,981 difference is related to property, plant
and equipment of $213,253,126 less accumulated depreciation of $122,892,145.
Another element of that reconciliation explains "Other long -term assets are not available
for current period expenditures and therefore are not reported in the funds ". This
$1,081,871 difference is bond issue costs of $491,130, less accumulated amortization of
$321,352, pension forfeitures of $682,665, deferred debt refunding cost of $104,460 and
interest receivable of $124,968.
Additionally, the reconciliation states that long -term liabilities are not due and payable in
the current period and, therefore, are not reported in the funds. This $9,707,344
difference is related to bonds and notes payable of $8,325,000, accrued compensated
absences of $1,172,545, premium on issued debt of $203,221 and interest payable of
$6,578.
B. Explanation of Certain Differences Between the Governmental Fund Statement of
Revenue, Expenditures and Changes in Fund Balances and the Government -wide
Statement of Activities
The governmental fund Statement of Revenues, Expenditures and Changes in Fund
Balances includes reconciliation between net change in fund balances of governmental
funds and changes in net assets of governmental activities as reported in the
government -wide Statement of Activities. One element of that reconciliation explains
"Governmental funds report capital outlays as expenditures. However, in the Statement
of Activities, the cost of those assets is allocated over their estimated useful lives as
depreciation expense." The details of this $2,338,746 difference are comprised of capital
outlay of $11,550,969, less depreciation expense of $9,212,223.
D10
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
III. Stewardship, Compliance, and Accountability
A. Budgetary Information
An annual budget and appropriation ordinance is adopted by Town Council in
accordance with the Town's Home Rule Charter.
Budgets are prepared on the basis of GAAP for all funds except the Heavy Equipment
Fund and the Dispatch Services Fund. The budgets for these funds have been adopted
on a non -GAAP budget and are reconciled to GAAP below:
Heavy Dispatch
Equipment Services
Fund Fund
Change in Net Assets - Budget Basis $ 333,220 $ 43,978
add /(less):
Contribution from Capital Projects Fund 44,681 -
Change in compensated absences (5,975) (10,274)
Capitalized assets 640,907 50,121
Depreciation (569,560) (226,133)
Net book value of disposed assets (1,562) -
Change in Net Assets - GAAP Basis $ 441,711 $ (142,308)
Annual appropriations are adopted for all funds. Expenditures may not legally exceed
appropriations at the fund level. All appropriations lapse at year -end.
The Town followed these procedures in preparing, approving, and enacting its budget for
2008.
(1) For the 2008 budget year, prior to August 25, 2007, the County Assessor sent
the Town a certified assessed valuation of all taxable property within the Town's
boundaries.
(2) Prior to the end of the 2007 fiscal year, the Town Manager submitted to the Town
Council a budget and accompanying message.
(3) Prior to December 15, 2007, the Town computed and certified to the County
Commissioners a levy rate that derived the necessary property taxes as
computed in the proposed budget.
(4) After a required publication of "Notice of Proposed Budget ", the Town adopted
the proposed budget and an appropriation ordinance which legally appropriated
expenditures for the upcoming year.
D11
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
III. Stewardship, Compliance, and Accountability (continued)
A. Budgetary Information (continued)
(5) After adoption of the budget ordinance, the Town may make the following
changes: a) transfer appropriated money between funds; b) approve
supplemental appropriations to the extent of revenues in excess of those
estimated in the budget; c) approve emergency appropriations; and d) reduce
appropriations for which originally estimated revenues are insufficient.
Taxes levied in one year are collected in the succeeding year. Thus, taxes certified in
2007 were collected in 2008 and taxes certified in 2008 will be collected in 2009. Taxes
are due on January 1 st in the year of collection; however, they may be paid in either one
installment (no later than April 30th) or two equal installments (not later than February
28th and June 15th) without interest or penalty. Taxes that are not paid within the
prescribed time bear interest at the rate of one percent (1%) per month until paid. Unpaid
amounts and the accrued interest thereon become delinquent on June 16th.
During the year, supplemental appropriations were necessary. The budgetary
comparison statements reflect the original budget and the final budget after legally
authorized revisions were made.
B. Budgetary Information — Vail Local Marketing District
The District's budget timetable varies from the Town's. The District followed these
procedures in preparing, approving, and enacting its budget for 2008.
(1) On or before September 30, 2007, the District must submit to the Board a
recommended budget that details the revenues necessary to meet the District's
operating requirements. This was done on September 2, 2007.
(2) After appropriate public notice and a required public hearing, the Board must
adopt the proposed budget and an appropriating resolution that legally
appropriated expenditures for the upcoming year on or before December 5,
2007. The Board adopted the 2008 budget on October 2, 2007.
(3) After adoption of the initial budget resolution, the District may make the following
changes: a) approve supplemental appropriations to the extent of revenues in
excess of those estimated in the budget; b) approve emergency appropriations;
and c) reduce appropriations for which originally estimated revenues are
insufficient.
During the year, supplemental appropriations were necessary. The budgetary
comparison statements reflect the original budget and the final budget after legally
authorized revisions were made.
C. Deficit Net Assets - Timber Ridge Affordable Housing Corporation
The Corporation had a deficit of net assets at December 31, 2008 of $2,909,247.
D12
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
III. Stewardship, Compliance, and Accountability (continued)
D. Compliance with Trust Indentures - Timber Ridge Affordable Housing Corporation
The bond indenture for the Corporation's Adjustable Rate Housing Facilities Revenue
Bonds, Series 2003A (the "2003A Bonds "), establishes initial funding of a bond reserve
fund at $317,094 and required additional funding during 2004, but permits the trustee to
release moneys in the bond reserve fund to the Corporation to pay operating and
maintenance expenses of the Project. Due to the Trustee's release of funds pursuant to
these provisions in 2003 and 2004 (without reimbursement by the Corporation), balances
at December 31, 2008 and 2007 in the Bond Reserve Fund for the 2003A Bonds were
$380,077 and $575,666, respectively, less than the bond reserve requirement of
$595,157.
As described in Note IV.J., the Reimbursement Agreement with U.S. Bank requires the
Corporation to fund a Replacement Reserve in 2003 and annually thereafter. For 2008
and 2007, the minimum funding required for the Replacement Reserve was met by the
Corporation.
The 2003A Indenture and 2003B Indenture each impose financial ratios relating to debt
service coverage. At December 31, 2008 and 2007, the Corporation met the minimum
required debt service coverage ratios under the terms of the 2003A Indenture or the
2003B indenture.
E. TABOR Amendment
In November 1992, Colorado voters amended Article X of the Colorado Constitution by
adding Section 20, commonly known as the Taxpayer's Bill of Rights ( "TABOR "). TABOR
contains revenue, spending, tax and debt limitations that apply to the State of Colorado
and local governments. TABOR requires, with certain exceptions, advance voter
approval for any new tax, tax rate increase, mill levy above that for the prior year,
extension of any expiring tax, or tax policy change directly causing a net tax revenue gain
to any local government.
Except for refinancing bonded debt at a lower interest rate or adding new employees to
existing pension plans, TABOR requires advance voter approval for the creation of any
multiple - fiscal year debt or other financial obligation unless adequate present cash
reserves are pledged irrevocably and held for payments in all future fiscal years.
TABOR also requires local governments to establish an emergency reserve to be used
for declared emergencies only. Emergencies, as defined by TABOR, exclude economic
conditions, revenue shortfalls, or salary or fringe benefit increases. The reserve is
calculated at 3% of fiscal year spending for fiscal years ending after December 31, 1995.
Fiscal year spending excludes bonded debt service and enterprise spending. The Town
has reserved a portion of the December 31, 2008 fund balance in the General Fund for
this purpose in the amount of $1,700,000 which is the approximate required reserve.
D13
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
III. Stewardship, Compliance, and Accountability (continued)
E. TABOR Amendment (continued)
The initial base for local government spending and revenue limits is December 31, 1992
fiscal year spending. Future spending and revenue limits are determined based on the
prior year's fiscal year spending adjusted for inflation in the prior calendar year plus
annual local growth. Fiscal year spending is generally defined as expenditures and
reserve increases with certain exceptions. Revenue, if any, in excess of the fiscal year
spending limit must be refunded in the next fiscal year unless voters approve retention of
such revenue.
On November 16, 1993, voters of the Town approved the collection and expenditure of all
revenues generated, including reduction in debt service during 1993 and each
subsequent year (not including revenue generated from ad valorem property taxes)
without any increase in such tax rates and the expenditure of such revenues for debt
service, municipal operations, and capital projects, effective January 1, 1994.
On November 7, 2000, the Town's electorate approved the collection and expenditure of
all revenues received from ad valorem property taxes levied in 2000 and each year
thereafter.
The remaining restrictions of the TABOR Amendment apply, which are:
• Voter approval of all new taxes and tax rate increases;
• Voter approval for new or additional Town debt;
• No increase or imposition of a new real estate transfer tax; and,
• All election requirements remain in effect.
The Town's management believes it is in compliance with the financial provisions of
TABOR. However, TABOR is complex and subject to interpretation. Many of its
provisions, including the interpretation of how to calculate fiscal year spending limits, will
require judicial interpretation.
F. TABOR Amendment — Vail Local Marketing District
As required by TABOR, the District has reserved $83,000 of its fund balance for
emergencies, which is the approximate required reserve at December 31, 2008.
The ballot question approved by voters on November 2, 1999, which established the
1.4% tax on lodging within the Town's boundaries also authorized the District to collect
and spend the proceeds of the lodging tax, investment income, and all other revenues,
without regard to the limitations imposed by TABOR, effective January 1, 2000.
The District's management believes it is in compliance with the financial provisions of
TABOR. However, TABOR is complex and subject to interpretation. Many of its
provisions will require judicial interpretation.
D14
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds
A. Cash and Investments
Pursuant to its charter, the Town has adopted, by ordinance, an investment policy
governing the types of institutions and investments with which it may deposit funds and
transact business. Under this policy, the Town may invest in federally insured banks,
debt obligations of the U.S. Government, its agencies and instrumentalities,
governmental mutual funds and pools including 2a7 -like pools, and repurchase
agreements subject to policy requirements.
The Town also accounts for the operations of the employees' pension plans that are
administered by select employees acting as trustees who are governed by a trust
agreement. The trust agreement gives the trustees considerable latitude with investment
alternatives. As a result, all pension investments are considered legal under the trust
agreement.
The Town's deposits and certificates of deposit are entirely covered by federal depository
insurance (FDIC) or by collateral held under Colorado Public Deposit Protection Act
( "PDPA "). The FDIC insures the first $100,000 of the Town's deposits at each financial
institution. Deposit balances over $100,000 are collateralized as required by PDPA. As
of year end, the bank balance of the Town's deposits was $4,273,293.
At year end, the Town had the following investments and maturities:
Carrying
Type Rating Maturities Value
Deposits:
Cash on hand 14,185
Demand deposits 9,256,206
Certificates of deposit <1 year 1,276,367
Certificates of deposit <5 years 585,820
Total deposits 11,132,578
Investments:
US Agencies - FHLMC, FHLB, FNMA, FFC AAA <5 years 3,750,537
Mortgage pools AAA N/A 1,914,115
Colotrust AAAm N/A 50,758,216
Pension and Section 457 investments N/A N/A 35,871,387
Total investments 92,294,255
Total deposits and investments
Reconciliation to Statement of Net Assets:
Equity in pooled cash and investments 63,576,351
Cash and cash equivalents - Unrestricted 3,187,085
Cash and cash equivalents - Restricted 1,474,675
Fiduciary Funds 35,188,722
Total 103,426,833
D15
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
A. Cash and Investments (continued)
Pools. The Town has invested in the Colorado Government Liquid Asset Trust
( "Colotrust "), which is an investment vehicle established for local government entities in
Colorado to pool surplus funds. They operate similarly to a money market fund and each
share is equal in value to $1. Investments of the trusts consist of U.S. Treasury bills,
notes and note strips, and repurchase agreements collateralized by U.S. Treasury
securities. Colotrust is rated AAAm by Standard and Poor's.
Interest Rate Risk. As a means of limiting its exposure to interest rate risk, the Town
diversifies its investments by security type and institution, and limits holdings in any one
type of investment with any one issuer. The Town coordinates its investments maturities
to closely match cash flow needs and invests primarily in securities with a maximum
investment term less than five years from the purchase date. As a result of the limited
length of maturities the Town has limited its interest rate risk.
Credit Risk. The Town's general investment policy is to apply the prudent - person rule;
investments are made as a prudent person would be expected to act, with discretion and
intelligence, to seek reasonable income, preserve capital, and, in general, avoid
speculative investments.
Concentration of Credit Risk. The Town diversifies its investments by security type
and institution.
Credit quality distribution for investments, with credit exposure as a percentage of total
investments are as follows at year end:
Investment Type Rating Percentage
Colotrust AAAm 80%
Investments in the Deferred Compensation Plan and the Pension Trust Funds are held
by trustees and are not categorized because they are not evidenced by specific securities
that exist in physical or book form.
D16
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
B. Receivables
Receivables as of year -end for the Town's funds, including applicable allowances for
uncollectible accounts, are as follows:
Capital Real Estate Vail Vail Local
General Projects Transfer Marketing Marketing
Fund Fund Tax Fund Fund District
Receivables:
Property taxes $ 4,469,405 - - -
Other taxes 735,032 2,749,497 103,002 384,879
Other governments - 282,970 - -
Employees 106,059 - -
Other 188,839 752,033 - 1,042 4,226
Gross Receivables 5,499,335 3,784,500 103,002 1,042 389,105
Less: Allowance for
uncollectibles (1,000) - - - -
Net Receivables $ 5,498,335 3,784,500 103,002 1,042 389,105
Vail Heavy
Rein- Equip- Dispatch Health
Timber vestment ment Services Insurance
Ridge Authority Fund Fund Fund Total
Receivables:
Property taxes $ 4,469,405
Othertaxes 3,972,410
Other governments 7,501 290,471
Employees - - - 106,059
Other 12,279 10,566 2,458 971,443
Gross Receivables 12,279 10,566 7,501 2,458 9,809,788
Less: Allowance for
uncollectibles - - - - (1,000)
Net Receivables $ 12,279 10,566 7,501 2,458 9,808,788
D17
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
B. Receivables (continued)
Governmental funds report deferred revenue in connection with receivables for revenues
that are not considered to be available to liquidate liabilities of the current period. Total
deferred revenue for governmental activities totaled $4,925,732 and is comprised of the
following:
General Capital Project
Property taxes assessed but not Fund Fund
collectible until 2008: $ 4,469,405
Other deferred revenues:
Business licenses 61,962
Library grants 103,884
Police programs 14,785
Construction projects 275,696
$ 4,650,036 $ 275,696
Deferred revenue for business -type activities in the amount of $243,026 is related to prepaid
rent.
Deferred revenue for construction projects relate to $191,396 of funds collected from Holy
Cross Energy for the community enhancement fund which is used to place utilities
underground. The other $84,300 was collected from a developer, for road improvements.
The Town has begun construction on both projects during 2009. The revenue will be
recognized in the year the money is spent.
C. Capital Assets
The Governmental Accounting Standards Board Statement No. 34 (GASB -34) requires the
capitalization of general infrastructure both prospectively and retroactively. Retroactive
application requires governments to capitalize major infrastructure assets they acquired in
the past 25 years or during fiscal years ending after June 30, 1980. Based on the Town's
annual revenues, implementation was required by December 31, 2007. The Town is in
compliance with GASB 34's infrastructure reporting requirements.
During 2007, the Town added fully depreciated general infrastructure assets with an
aggregate historical cost of $54,016,471 to the governmental activities Statement of Net
Assets, in compliance with the infrastructure reporting requirements. Also during 2007, the
Town increased its capital assets to reflect the inclusion of certain items previously omitted
from the Town's capital asset listing.
D18
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
C. Capital Assets (continued)
Capital asset activity for the year ended December 31, 2008 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental Activities:
Capital Assets, Not Being Depreciated:
Land $ 28, 222, 590 - - 28,222, 590
Total Capital Assets, Not Being Depreciated 28,222,590 - - 28,222,590
Capital Assets, Being Depreciated:
Buildings and improvements 70,477,524 1,556,385 (178,045) 71,855,864
Infrastructure and improvements 89,725,988 3,949,963 - 93,675,951
Equipment and vehicles 22,312,300 6,730,208 (423,303) 28,619,205
Total Capital Assets Being Depreciated 182,515,812 12,236,556 (601,348) 194,151,020
Less Accumulated Depredation For:
Buildings and improvements (45,107,519) (2,546,374) - (47,653,893)
Infrastructure and improvements (60,592,092) (4,959,129) - (65,551,221)
Equipment and vehicles (13,890,226) (2,276,280) 423,966 (15,742,540)
Total Accumulated Depreciation (119,589,837) (9,781,783) 423,966 (128,947,654)
Total Capital Assets, Being Depreciated, Net 62,925,975 2,454,773 (177,382) 65,203,366
Governmental Activities Capital Assets, Net $ 91,148,565 2,454,773 (177,382) 93,425,956
Business -type Activities
Capital Assets, Not Being Depreciated:
Land $ 4,399,500 - - 4,399,500
Total Capital Assets, Not Being Depreciated 4,399,500 - - 4,399,500
Capital Assets, Being Depreciated:
Buildings and improvements 15,592,145 - - 15,592,145
Equipment 2,529,590 50,121 (63, 351) 2,516, 360
Total Capital Assets Being Depreciated 18,121,735 50,121 (63,351) 18,108,505
Less Accumulated Depredation For:
Buildings and improvements (2,325,514) (522,614) - (2,848,128)
Equipment (1,254,668) (226,133) 63,351 (1,417,450)
Total Accumulated Depreciation (3,580,182) (748,747) 63,351 (4,265,578)
Total Capital Assets, Being Depreciated, Net 14,541,553 (698,626) - 13,842,927
Business -type Activities Capital Assets, Net $ 18,941,053 (698,626) - 18,242,427
D19
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
C. Capital Assets (continued)
Depreciation expense was charged to functions of the Town as follows:
Depreciation on fixed assets is recorded using the following estimated useful lives:
Governmental Activities:
General government $ 462,614
Public safety 395,962
Public works and transportation 7,526,519
Culture and recreation 1,396,688
Total Depreciation Expense - Governmental Activities $ 9,781,783
Business -type Activities:
Dispatch services $ 226,133
Housing 522,614
Total Depreciation - Business -type Activities $ 748,747
Years
Buildings 25-40
Building improvements 7-25
Infrastructure 5-30
Vehicles 5-15
Equipment 5-10
At December 31, 2008, the Town had $27,137,353 of fully depreciated assets.
D. Operating Leases
The Town is committed under various leases for buildings, office space, and equipment.
For accounting purposes, these leases are considered to be operating leases, and
therefore, the liability and the related assets have not been recorded in these financial
statements.
E. Interfund Receivables, Payables, and Transfers
There were no interfund balances at December 31, 2008.
Interfund transfers during the year ended December 31, 2008 were as follows:
Transferred to: Transferred from: Amount Purpose
Capital Projects General 441,000 Incremental Property tax collections
Vail Local Marketing District General 550,000 Winter marketing campaign
Debt Service Fund Capital Projects 2,204,670 Transfer sales tax for debt service payment
D20
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
F. Long -term Liabilities - Governmental Activities
The Town has the following long -term debt outstanding for governmental activities:
1. Tax - Exempt Sales Tax Revenue Refunding Bonds, Series 1998A
The Town issued $8,760,000 of insured Tax - Exempt Sales Tax Revenue
Refunding Bonds (the "1998A Bonds ") dated September 1, 1998. Proceeds of
the 1998A and 1998B Bonds (described below) were used to refund the
outstanding principal balance on bonds issued in 1991 and 1992, which are
considered to be defeased. The interest rate on the 1998A Bonds ranges from
4.25% to 4.5 %. Coupon payment dates for the 1998A Bonds are June 1 and
December 1 annually.
The Bonds are revenue obligations of the Town payable solely from the Town's
4% sales tax. The 1998A Bonds are secured by a lien on, but not an exclusive
lien on, the sales tax.
1998A Bonds maturing on and after December 1, 2009 are subject to redemption
prior to maturity at the option of the Town, in whole or in part, on December 1,
2008 and thereafter, at a redemption price equal to par, plus accrued interest to
the redemption date.
2. Taxable Sales Tax Revenue Refunding Bonds, Series 1998B
The Town issued $735,000 of insured Taxable Sales Tax Revenue Refunding
Bonds (the "1998B Bonds ") dated September 1, 1998. The interest rate ranges
from 6.00% to 6.05 %. Coupon payments are due June 1 and December 1
annually.
The 1998B Bonds are revenue obligations of the Town payable solely from the
Town's 4% sales tax. The bonds are secured by a lien on, but not an exclusive
lien on, the sales tax.
The 1998B Bonds were retired in 2007.
3. Sales Tax Revenue Refunding Bonds, Series 2002B
The Town issued $5,570,000 of Sales Tax Revenue Refunding Bonds dated
September 1, 2002 (the "2002B Bonds "). Proceeds from the 2002B Bonds were
used to refund outstanding 1992 bonds.
The interest rate on the 2002B Bonds ranges from 2.5% to 4.0% and is payable
on June 1 and December 1 annually through December 1, 2012.
The 2002B Bonds are special limited obligations of the Town payable solely from
the Town's existing 4% sales tax and from any legally available tax or taxes or
fees (other than general ad valorem tax). The 2002B Bonds constitute an
irrevocable lien (but not an exclusive lien) upon the pledged revenues, on parity
with the 1998 Bonds.
D21
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
F. Long -term Liabilities - Governmental Activities (continued)
3. Sales Tax Revenue Refunding Bonds, Series 2002B (continued)
2002B Bonds maturing on or before December 1, 2011 are not subject to prior
redemption. 2002B Bonds maturing on or after June 1, 2012 are subject to
redemption prior to their maturities, at the option of the Town, in whole or in part,
on December 1, 2011 or thereafter, at a redemption price equal to the principal
amount redeemed, plus a redemption premium equal to 1% of the principal
redeemed, plus accrued interest to the redemption date.
4. Sales Tax Revenue Refunding Bonds, Series 2008
The Town issued $6,320,000 of Sales Tax Revenue Refunding Bonds dated
December 1, 2008 (the "2008 Bonds "). Proceeds from the 2008 Bonds were
used to refund outstanding 1998A bonds.
The interest rate on the 2008 Bonds ranges from 3.5% to 4.0% and is payable on
June 1 and December 1 annually through December 1, 2012.
The 2008 Bonds are special limited obligations of the Town payable solely from
the Town's existing 4% sales tax and from any legally available tax or taxes or
fees (other than general ad valorem tax). The 2008 Bonds constitute an
irrevocable lien (but not an exclusive lien) upon the pledged revenues, on parity
with the 1998 Bonds.
2008 Bonds maturing on or before December 1, 2011 are not subject to prior
redemption. The 2008 Bonds are not subject to redemption prior to maturity at
the option of the Town.
G. Long -term Liabilities - Business -type Activities
The Town has the following long -term debt outstanding for business -type activities:
1. Adjustable Rate Housing Facilities Revenue Bonds, Series 2003A
The 2003A Bonds were issued July 15, 2003 in the principal amount of
$19,025,000 as limited obligations of the Corporation and not indebtedness of
the Town. The 2003A Bonds are payable solely from the rents and other
receipts from operation of the Project, net of the Project's actual operating
expenses (the "Pledged Revenues ") and the various reserve funds and other
monies pledged under the terms of the 2003A indenture. Certain capitalized
terms are further described in the 2003A indenture. The 2003A Bonds bear
interest at the Weekly Rate established by the George K. Baum & Company (the
"Remarketing Agent ") until converted to another "mode ", including a Fixed Rate,
by the Corporation.
While in any interest rate mode other than a Fixed Rate, the 2003A Bonds are
subject to repurchase upon demand by any bondholder at 100% of the
outstanding principal amount plus accrued interest. All tendered bonds are then
to be subsequently remarketed by the Remarketing Agent.
D22
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
G. Long -term Liabilities - Business -type Activities (continued)
1. Adjustable Rate Housing Facilities Revenue Bonds, Series 2003A
(continued)
The 2003A Bonds are subject to redemption prior to maturity (December 1, 2032
or specific maturity date, if converted to Fixed Rate) at the Corporation's option,
using monies in the Redemption Fund, as follows:
• 2003A Bonds in a Daily Mode or Weekly Mode - on any date prior to Maturity
at 100% of the principal amount, plus accrued interest.
• 2003A Bonds in a Commercial Long -Term Mode - after the following No -Call
Period and at the following redemption prices, plus accrued interest:
Length of Rate Period No -Call Period Redemption Price
Greater than 12 years 10 years from the Rate 101 %, declining 0.5% per
Change Date 6 months to 100%
Greater than 4 years, but Until 2 years prior to the 100%
less than 12 years end of the Rate Period
Less than or equal to Length of the Rate Period Not subject to optional
4 years redemption
• 2003A bearing a Fixed Rate - after the following No -Call Period and at the
following redemption prices, plus accrued interest:
Length of Rate Period No -Call Period Redemption Price
Greater than 12 years 10 years from the 101 %, declining 0.5% per
Conversion Date 6 months to 100%
Greater than 4 years, but Until 2 years prior to 100%
less than 12 years Maturity
Less than or equal to Term to Maturity Not subject to optional
4 years redemption
From the date of issuance through December 31, 2008, the 2003A Bonds have
been in Weekly Mode, with interest rates set by the Remarketing Agent. Interest
rates on the 2003A Bonds ranged from 1.94% to 9.00% per annum in 2008, and
4.76% to 5.92% per annum in 2007. At December 31, 2008, the interest rate on
the 2003A Bonds was 1.94% per annum (4.96% at December 31, 2007);
however, the Corporation's effective interest rate has been limited to 4% through
August 1, 2006 and 5.5% thereafter, as provided by the Rate Protection
Agreement discussed in Note IV. J. Total interest expense for 2008 incurred in
respect of the 2003A Bonds was $676,960 ($1,017,124 for 2007).
D23
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
G. Long -term Liabilities - Business -type Activities (continued)
2. Subordinate Housing Facilities Revenue Bonds, Series 2003B ( "2003B
Bonds ")
The 2003B Bonds were issued July 15, 2003 in the principal amount of
$1,570,000 as subordinated, limited obligations of the Corporation and not
indebtedness of the Town. The 2003B Bonds are payable solely from the
Pledged Revenues and the various reserve funds and other monies pledged
under the terms of the 2003B indenture, but the pledge of security interest in the
Pledged Revenues is subordinated to the pledge of these same revenues for
payment of the 2003A Bonds.
The 2003B Bonds bear interest at the rate of 6.25% per annum, with semi - annual
blended payments of interest and principal on June 1 and December 1 annually.
During 2008, the Corporation incurred interest expense totaling $64,193 in
respect of the 2003B Bonds ($73,307 for 2007).
The 2003B Bonds mature December 1, 2013 but are subject to prior redemption,
at the Corporation's option, at 100% of the principal amount, plus accrued
interest; provided that redemption of the bonds is not from the proceeds of
refunding bonds or other financing by the Corporation.
3. Promissory Note - Town of Vail (the "Town Notes ")
In connection with the Corporation's purchase of the Project, the Town advanced
$1,000,000 to the Corporation upon execution of a promissory note. During 2005
and 2006, the Town made additional advances of $700,000 and $200,000,
respectively, to the Corporation upon execution of additional promissory notes.
At December 31, 2008, the balance outstanding under the terms of these
promissory notes (collectively, the "Town Notes ") was $1,900,000 ($1,900,000 at
December 31, 2007).
The Town Notes, which bear interest at the rate of 1.5% per annum, mature
December 1, 2032. The Town Notes are payable solely from the Pledged
Revenues, but the pledge of security interest in the Pledged Revenues is
subordinated to the pledge of these same revenues for payment of the 2003A
Bonds and the 2003B Bonds.
The Town Notes are payable to the extent that the Corporation has determined
that excess net revenues of the Project, after provision for necessary operating
or capital reserves, have accumulated semi - annually on the business day
following debt service on the 2003B Bonds. The Town Notes may be repaid by
the Corporation at any time without penalty.
In the event that a shortfall arises in the Bond Reserve Funds (as defined in the
2003A and 2003B Indentures) for the 2003A Bonds and /or the 2003B Bonds
which is not cured within the prescribed deadlines by the Corporation, U.S. Bank
National Association (the "Trustee ") will request that the Town replenish the
deficient Bond Reserve Fund, and the Town has agreed to consider such
requests but is not obligated to do so. Any funds advanced by the Town to
replenish Bond Reserve Funds will be considered additional loans by the Town,
subject to the same terms as the original Town Notes.
D24
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
G. Long -term Liabilities - Business -type Activities (continued)
3. Promissory Note - Town of Vail (the "Town Notes ") (continued)
The Town's failure to replenish any deficiency in the Bond Reserve Funds will not
constitute an Event of Default (as defined in the 2003A and 2003B Indentures)
for the 2003A Bonds or the 2003B Bonds.
The Corporation incurred interest expense totaling $28,500 during 2008 ($28,500
for 2007) in respect of the Town Notes. At December 31, 2008, the Corporation
had accrued a total of $126,968 ($98,468 at December 31, 2007) in interest
payable to the Town under the terms of the Town Notes.
H. Long -term Liabilities - Compensated Absences
The Town has a policy allowing the accumulation of paid vacation and sick leave, subject
to certain maximum limits. In accordance with GAAP, the Town's approximate liability for
vacation pay earned by employees and longevity pay at December 31, 2008 has been
reflected in the proprietary type fund financial statements and in the governmental
activities column of the government -wide financial statements. Accumulated sick pay of
approximately $2,836,054 at December 31, 2008 has not been reflected in the Town's
financial statements as the amount is partially insured by an independent insurance
company and the amounts are not payable at termination.
I. Long -term Liabilities — Refunded
In prior years, the town defeased certain general obligations and other bonds by placing
the proceeds of new bonds in an irrevocable trust to provide for all future debt service
payments on the old bonds. The bonds intended to be refunded by the refunding issues
remain a contingent liability of the town until retired; however, they are not included for
the purposes of calculating debt limits of the town. The amount of debt considered
defeased cannot be readily determined as of December 31, 2008.
D25
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Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
J. Long -term Liabilities - Activity and Debt Service Schedules
Long -term liability activity for the year ended December 31, 2008 was as follows:
Beginning Ending Due Within
Balance Additions Reductions Balance One Year
Governmental Activities:
General Obligation Bonds:
Tax- Exempt Refunding Bonds,
Series 1998A 7,775,000 - (7,775,000) - -
Tax- Exempt Refunding Bonds,
Series 2008 - 6,300,000 - 6,300,000 1,500,000
Deferred amounts:
Issuance premium - 203,221 - 203,221
Cost of refunding - (104,460) - (104,460)
Net Tax - Exempt Refunding Bonds - 98,761 - 98,761 -
Refunding Bonds, Series 2002B 2,490,000 - (465,000) 2,025,000 480,000
Compensated absences 1,052,195 177,409 - 1,229,604 473,842
Total Governmental Activities
Long -term Liabilities $ 11,317,195 6,576,170 ± L 2 40,000 9,653,365 2,453,842
Business -type Activities:
Housing Facilities Revenue Bonds:
Adjustable Rate, Series 2003A $ 19,025,000 - - 19,025,000 405,000
Subordinated, Series 2003B 1,040,000 - (155,000) 885,000 145,000
Promissory note 1,900,000 - - 1,900,000 -
Compensated absences 55,485 10,274 - 65,759 26,304
Total Business -type Activities
Long -term Liabilities $ 22,020,485 10,274 (155,000) 21,875,759 576,304
D26
6 -1 -51
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
J. Long -term Liabilities - Activity and Debt Service Schedules (continued)
Debt service requirements at December 31, 2008 were as follows:
Principal Interest Total
Governmental Activities:
2009 1,980,000 296,295 2,276,295
2010 2,035,000 238,331 2,273,331
2011 2,115,000 165,681 2,280,681
2012 2,195,000 82,275 2,277,275
Total Governmental Activities $ 8,325,000 782,582 9,107,582
Business -type Activities
2009 550,000 452,898 1,002,898
2010 585,000 435,978 1,020,978
2011 635,000 417,949 1,052,949
2012 670,000 397,656 1,067,656
2013 705,000 376,254 1,081,254
2014 -2018 2,945,000 1,660,259 4,605,259
2019 -2023 3,825,000 1,342,390 5,167,390
2024 -2028 4,970,000 929,170 5,899,170
2029 -2032 5,025,000 363,969 5,388,969
Total Business -type Activities $ 19,910,000 6,376,523 26,286,523
General obligation bonds issued for governmental activity purposes are liquidated by the
Debt Service Fund, whereas, general obligation bonds issued for component unit
purposes are liquidated by the component unit.
Included in debt service requirements for business -type activities above are principal and
interest payments due to the Town in the amounts of $1,900,000 and $684,000
respectively.
K. Credit Facility and Reimbursement Agreement - Timber Ridge Affordable Housing
Corporation
Certain capitalized terms are defined in the 2003A Bonds Indenture.
In connection with the issuance of the 2003A Bonds, an irrevocable, stand -by, direct pay
letter of credit (the "Credit Facility ") in the amount of $19,207,432 was established July
17, 2003 by U.S. Bank, National Association ( "U.S. Bank ") in favor of the Trustee for the
2003A Bonds. Under the terms of the Credit Facility, up to $19,025,000 may be drawn to
pay principal amounts of the 2003A Bonds, and up to $182,432 may be drawn to pay up
to 35 days' accrued interest on the 2003A Bonds at a maximum rate of 10% per annum.
Available credit under the Credit Facility will be permanently and proportionately reduced
upon notice from the Trustee of redemption of less than all of the 2003A Bonds.
D27
6 -1 -52
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
K. Credit Facility and Reimbursement Agreement — Timber Ridge Affordable Housing
Corporation (continued)
The Credit Facility expires at the earlier of:
a. July 17, 2009, although it automatically renews for successive one -year terms
(unless U.S. Bank notifies the Trustee that the Credit Facility has not been
renewed);
b. 15 days following notice by U.S. Bank requiring payment of all outstanding
2003A Bonds due to Default;
C. The date of acceleration or redemption of all 2003A Bonds;
d. The second business day after conversion of the 2003A Bonds to a Fixed Mode
interest rate; or
e. The date of surrender of the Credit Facility for cancellation, as required by the
Indenture.
Concurrent with the Credit Facility, the Corporation executed a Reimbursement
Agreement and a Demand Note in favor of U.S. Bank, evidencing the Corporation's
obligation to repay all advances under the Credit Facility, together with interest on all
such draws. All amounts drawn on or charged against the Credit Facility bear interest at
the Bank Rate, which is equal to U.S. Bank's Prime Rate plus 200 Basis Points. The
Credit Facility automatically renews each year, subject to the Corporation's compliance
with requirements as to operational performance of the Corporation, provision of certain
records to the Trustee, and payment of all fees (including annual stand -by fees equal to
125 Basis Points calculated on the original credit commitment, plus U.S. Bank's standard
fees and charges for processing draws on the Credit Facility).
Pursuant to this arrangement, the Corporation incurred financing fees during 2008
totaling $244,094 ($243,427 for 2007) for U.S. Bank in respect of stand -by fees for the
Credit Facility. During 2003, U.S. Bank was paid a one -time origination fee of $192,074
from the proceeds on issuance of the 2003A Bonds, which has been capitalized as Bond
Issue Costs.
During 2008, the Corporation drew and repaid $651,984 ($1,022,570 for 2007) of
advances on the Credit Facility. At December 31, 2008 and 2007, no balance was
outstanding on the Credit Facility.
The Reimbursement Agreement imposes the following funding commitments on the
Corporation:
a. Commencing January 1, 2009, the Corporation is to deposit into the Bond
Principal Fund an amount equal to 1/12 of the scheduled principal reductions for
the 2003A Bonds, to be used by the Trustee to pay for optional redemptions as
provided in the 2003A Indenture.
b. $90,000 was paid from the proceeds of issuance of the 2003A Bonds into a
Replacement Reserve account. Annually thereafter, the Corporation is to deposit
an equal amount increased by 3% per annum into the Replacement Reserve
account, with usage of such funds restricted to capital improvements to the
Project approved by U.S. Bank. The Replacement Reserve Account is pledged
to U.S. Bank and not the owners of the 2003A Bonds.
C. The Corporation is required to deposit all security deposits received from tenants
of the Project into a separate account.
d. Commencing August 1, 2004 and annually thereafter, the Corporation is to
deposit into a Rate Cap Escrow Account an amount not less than $45,000, to be
used only to pay for required rate protection agreements.
D28
6 -1 -53
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
IV. Detailed Notes on all Funds (continued)
K. Credit Facility and Reimbursement Agreement - Timber Ridge Affordable Housing
Corporation (continued)
As required by the Reimbursement Agreement and for as long as the Credit Facility is
outstanding, the Corporation is required to have in effect a rate protection agreement at a
fixed interest rate acceptable to U.S. Bank in an amount equal to the then - outstanding
principal amount of the Credit Facility, with a floating rate payer acceptable to U.S. Bank.
The Corporation's rate protection agreement is subsequently described.
V. Other Information
A. Pension Plans
The Town offers two defined contribution pension plans to cover all permanent paid
employees of the Town. The Town established these qualified money purchase pension
plans under Internal Revenue Code section 401(a), and may amend all of the plan
provisions. The first plan covers all full time and qualified seasonal employees other than
sworn police officers and firefighters; the second plan covers all full time and qualified
seasonal employees of the Town's Police and Fire departments. The plan provisions are
the same for both plans.
In defined contribution plans, benefits depend solely on amounts contributed to the plans
plus investment earnings. Employees are eligible to participate in the plans from the date
of employment or the effective date of the plans, January 1, 1983, whichever is later.
The plans provide for contributions to be made by the Town of 12.6% of regular
compensation for the first year of employment and 17.6% thereafter. For employees
hired after April 1, 1986, the Town's contribution is 11.15% of regular compensation for
the first year, and 16.15% thereafter.
Employees have the option to make voluntary contributions of up to 10% of their
compensation. In the event of continued long -term disability of an employee, the Town's
disability insurance will continue to make contributions to the plan for the employee
through age 60 at the rate on the date of disability.
For employees hired before July 1, 1986, vesting of the Town's contributions is 77.5%
after the first year of employment with an additional vesting of 7.5% per year through the
fourth year, when vesting is 100 %. For employees hired after June 30, 1986, vesting of
the Town's contributions to the employees is 20% after the first year of employment with
additional vesting of 20% per year through the fifth year, when vesting is 100 %. If an
employee dies, becomes disabled, or attains the age of 60, their entire interest in the
plans becomes vested; normal retirement age is 60 with early retirement at age 50 and
four years of service.
In 1991, the Town established a defined contribution pension plan for seasonal
employees who work for the Town longer than 6 weeks. Seasonal employees are
required to contribute 6% of regular compensation to the plan and the Town contributes
1.5 %. Seasonal employees are 100% vested after their first contribution.
Employees covered under the regular and seasonal pension plans do not participate in
the Social Security system.
D29
6 -1 -54
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
V. Other Information (continued)
A. Pension Plans (continued)
The annual pension cost is the Town's contributions less forfeitures from the prior year.
The plans' invested assets at December 31, 2008 of $30,057,847 are stated at market
value. All earnings, losses, expenses and changes in the fair market value of the trust
fund will be apportioned at least annually among the participants in proportion to each
participant's current share of the Trust Investment Fund. The Town has no liability for
unfunded future vested employee benefits.
The trustees and administrators of the plans are the Retirement Board. The Retirement
Board determines investment options made available to participants, in adherence with
an adopted investment policy statement.
The total amount of the Town's 2008 covered payroll was $14,695,302 of which
$12,793,452 was for permanent employees and $1,901,850 was for seasonal staff. Total
2008 payroll for all Town employees was $15,923,752.
B. Retirement Savings Plan - Deferred Compensation Plan - IRC 457
The Town offers its employees a deferred compensation plan (the "457 Plan ") created in
accordance with Internal Revenue Code section 457. The 457 Plan, available to all Town
employees, permits them to defer a portion of their salary until future years. The deferred
compensation is not available to employees until termination, retirement, death, or
unforeseeable emergency.
All amounts of compensation deferred under the 457 Plan, all property and rights
purchased with those amounts, and all income attributable to those amounts, property, or
rights are to be held in trust for the exclusive benefit of the 457 Plan participants and their
beneficiaries.
The modified accrual basis of accounting is used for the 457 Plan.
The trustees and administrators of the 457 Plan are the Retirement Board, which
comprises members of the Town's administration. The Retirement Board determines
investment options made available to participants, in adherence to an adopted
investment policy statement.
The Town has no liability for losses under the 457 Plan but does have the duty of due
care that would be required of an ordinary prudent investor.
The total assets of the 457 Plan were $5,130,875 at December 31, 2008. The assets
were invested in mutual funds, as previously described.
Pursuant to the Town's adoption of GASB Statement No. 32, Accounting and Financial
Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans, the 457
Plan has been included in these financial statements as an expendable trust fund.
C. Cafeteria Plan
The Town offers a cafeteria compensation plan organized under section 125 of the
Internal Revenue Code, which includes dependent care and health expense
reimbursement. No cost to the Town is recognized as the plan is a salary reduction plan.
D30
6 -1 -55
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
V. Other Information (continued)
D. Risk Management
The Town is exposed to various risks of loss related to workers compensation, general
liability, unemployment, torts, theft of, damage to, and destruction of assets, and errors
and omissions. The Town carries commercial coverage for these risks and claims and
does not expect claims to exceed their coverage.
E. Commitments and Contingencies
1. Legal Claims
During the normal course of business, the Town may incur claims and other
assertions against it from various agencies and individuals. Management of the
Town and their legal representatives feel none of these claims or assertions are
significant enough that they would materially affect the fairness of the
presentation of the financial statements at December 31, 2008.
2. Federal Funds
Funds received from Federal grants and programs are subject to audit and
disallowance on ineligible costs. Management of the Town feels any potential
questioned or disallowed costs would not materially affect the fairness of the
presentation of the financial statements at December 31, 2008.
3. Mold Remediation - Timber Ridge Affordable Housing Corporation
Beginning in 2003, the Corporation performed remediation and other
precautionary renovations to the Project to alleviate potential and identified mold
problems in certain rental units. As of December 31, 2007, all 198 units were
renovated. The Corporation did not incur any mold remediation costs during
2008.
F. Rate Protection Agreement - Timber Ridge Affordable Housing Corporation
Effective July 15, 2003, the Corporation entered into a Rate Protection Agreement with
SMBC Derivative Products Limited ( "SMBC ") whereby SMBC agreed to limit the
Corporation's interest payable on the 2003A Bonds to 4% per annum through August 1,
2006. For its services under the Rate Protection Agreement, SMBC was paid a fee of
$133,000 during the period ended December 31, 2003, which has been capitalized as
bond issue costs.
Effective August 1, 2006, the Rate Protection Agreement was revised in that SMBC
agreed to limit the Corporation's interest payable on the 2003A Bonds to 5.5% per annum
through May 1, 2008. SMBC was paid a $70,000 fee in 2006 for this service, which has
been capitalized as Bond Issue Costs.
Effective April 30, 2008, the Rate Protection Agreement was revised in that SMBC
agreed to limit the Corporation's interest payable on the 2003A Bonds to 5.5% per annum
through May 1, 2010. SMBC was paid a fee of $14,650 in 2008 for this service, which
has been capitalized as Bond Issue Costs.
D31
6 -1 -56
Town of Vail, Colorado
Notes to the Financial Statements
December 31, 2008
(Continued)
V. Other Information (continued)
F. Rate Protection Agreement - Timber Ridge Affordable Housing Corporation
(continued)
During 2008, the Corporation was not reimbursed (2007 - $42) by SMBC under the terms
of the Rate Protection Agreement to limit the Corporation's interest payable on the 2003A
Bonds to 5.5% (2007 — 5.5 %) per annum.
G. Related Party Transactions - Vail Local Marketing District
The District has executed a Coordination Agreement with Vail Valley Partnership ( "VVP ")
under which VVP provides some marketing coordination services to the District in return
for a fixed fee. The District paid VVP $50,000 for its services in 2008. The Coordination
Agreement also requires the District to pay a fixed fee to the Town, for accounting
services and marketing coordination provided by the Town. Fees totaling $18,000 for
accounting services and $75,000 for marketing coordination were incurred by the District
during 2008 from the Town.
H. Conduit Debt - Town of Vail, Colorado Multifamily Housing Revenue Bonds (Middle
Creek Village Apartments Project), Series 2003A, 2003B and 2003 -T
These bonds were issued in 2003 in an aggregate principal amount of $16,850,000 to
finance construction of multi - family housing projects within the Town. The bonds mature
in 2038. The bonds are solely payable from, and are secured by, a pledge of revenue
from loan agreements between the Town and Middle Creek Village, LLC (as borrower).
The borrower's obligation is secured by Deeds of Trust, Security Agreements, Financing
Statements and assignment of rents and leases. The bonds are a special limited
obligation of the Town, payable solely from the specified revenues of the projects, and do
not constitute debt or indebtedness of the Town.
D32
6 -1 -57
REQUIRED SUPPLEMENTARY INFORMATION
6 -1 -58
Town of Vail, Colorado
General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Taxes:
General sales taxes 11,640,000 11,640,000 11,640,000 - 10,741,500
Property and ownership taxes 3,843,500 4,293,500 4,309,622 16,122 3,012,030
Ski area lift ticket admissions tax 3,123,852 3,123,852 3,277,703 153,851 3,039,619
Franchise tax 795,000 895,000 1,052,665 157,665 858,285
Penalties and interest on delinquent taxes 31,110 31,110 22,544 (8,566) 19,349
Total - Taxes 19,433,462 19,983,462 20,302,534 319,072 17,670,783
Permits and Licenses:
Construction fees 2,280,000 3,428,000 3,799,444 371,444 4,992,752
Contractors' licenses 30,000 30,000 42,061 12,061 34,398
Other permits and licenses 43,950 43,950 61,521 17,571 55,867
Total - Permits and Licenses 2,353,950 3,501,950 3,903,026 401,076 5,083,017
Intergovernmental:
County sales tax 620,800 620,800 625,674 4,874 603,364
County road and bridge 450,000 710,670 733,673 23,003 497,974
Additional motor vehicle registration fees 26,000 26,000 25,109 (891) 25,578
Cigarette tax 80,000 80,000 80,913 913 81,781
Highway users tax 180,000 180,000 179,605 (395) 191,042
State health inspection 10,000 10,000 11,768 1,768 18,822
Other state sources - 77,590 49,455 (28,135) 30,936
Federal sources - - - 59,542
Total - Intergovernmental 1,366,800 1, 705,060 1,706,197 1,137 1,509,039
Charges for Services:
Management fees - Vail
Local Marketing District 83,000 83,000 93,000 10,000 66,750
Internal service charge 506,985 456,985 550,409 93,424 318,297
Out of district fire response 30,000 87,227 97,526 10,299 57,393
Alarm monitoring fees 50,000 50,000 37,853 (12,147) 36,953
Parking 3,651,380 5,013,880 4,705,984 (307,896) 4,514,392
Fines and forfeitures 215,000 259,000 396,707 137,707 347,090
Rents 763,000 797,400 949,961 152,561 897,958
Other charges, services, and sales 232,150 245,150 332,467 87,317 357,755
Total - Charges for Services 5,531,515 6,992,642 7,163,907 171,265 6,596,588
Other Revenues:
Earnings on investments 675,000 585,000 571,072 (13,928) 984,040
Other 70,000 156,807 163,025 6,218 195,016
Total - Other Revenues 745,000 741,807 734,097 (7,710) 1,179,056
Total Revenues 29,430,727 32,924,921 33,809,761 884,840 32,038,483
The accompanying notes are an integral part of these financial statements
E1
6 -1 -59
Town of Vail, Colorado
General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
(Continued)
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Expenditures:
General Government:
Town officials 1,370,278 1,259,823 1,224,007 35,816 1,245,517
Administrative 3,339,290 3,390,741 3,164,384 226,357 3,155,193
Community development 3,367,056 3,473,684 3,327,400 146,284 3,329,590
Total - General Government 8,076,624 8,124,248 7,715,791 408,457 7,730,300
Public Safety:
Police department 5,232,201 5,349,440 5,047,503 301,937 4,799,831
Fire department 2,414,842 2,570,563 2,577,087 (6,524) 2,305,073
Total - Public Safety 7,647,043 7,920,003 7,624,590 295,413 7,104,904
Public Works and Transportation:
Highways and streets 3,412,895 3,606,971 3,717,159 (110,188) 3,134,300
Transportation 5,355,858 3,765,217 3,853,826 (88,609) 3,390,419
Parking operations 871,308 900,337 926,689 (26,352) 795,353
Facility maintenance 3,178,349 3,262,027 3,281,389 (19,362) 3,045,019
Total - Public Works and Transportation 12,818,410 11,534,552 11,779,063 (244,511) 10,365,091
Culture and Recreation:
Contributions, marketing and special events 1,572,482 1,572,087 1,541,498 30,589 1,293,767
Special recreation facilities 202,575 202,575 161,594 40,981 168,224
Library 839,062 842,762 828,056 14,706 752,031
Total - Culture and Recreation 2,614,119 2,617,424 2,531,148 86,276 2,214,022
Total Expenditures 31,156,196 30,196,227 29,650,592 545,635 27,414,317
Excess of Revenues
Over Expenditures (1,725,469) 2,728,694 4,159,169 1,430,475 4,624,166
Other Financing Sources (Uses):
Transfers out (991,000) (991,000) - (222,500)
Total Other Financing Sources (Uses) (991,000) (991,000) (222,500)
Net Change in Fund Balances (1,725,469) 1,737,694 3,168,169 1,430,475 4,401,666
Fund Balances - January 1 14,686,181 19,834,717 19,834,717 15,433,051
Fund Balances - December 31 12,960,712 21,572,411 23,002,886 1,430,475 19,834,717
The accompanying notes are an integral part of these financial statements
E2
6 -1 -60
Town of Vail, Colorado
Special Revenue Funds
Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Taxes:
Sales tax 7,760,000 7,760,000 8,171,920 411,920 8,308,506
Construction Use tax - 582,000 608,483 26,483 -
Total - Taxes 7,760,000 8,342,000 8,780,403 438,403 8,308,506
Intergovernmental:
County revenues - 317,000 50,000 (267,000) -
CDOT grants / State revenue - - 3,600 3,600 -
Federal grants 815,577 815,577 815,577 - 1,571
Total - Intergovernmental 815,577 1,132,577 869,177 (263,400) 1,571
Charges for Services:
Leases - Vail Commons 187,800 187,800 188,160 360 188,160
Resale fees - - 12,199 12,199 10,788
Total - Charges for Services 187,800 187,800 200,359 12,559 198,948
Other:
Earnings on investments 10,850 210,850 211,065 215 537,562
Construction Fees - 100,000 93,700 (6,300) 313,592
Project reimbursements /shared costs 565,000 982,360 417,360 1,314,618
Employee Housing Fee -in -Lieu 503,000 529,481 26,481 -
Other - 235,703 58,739 (176,964) 176,839
Total - Other 10,850 1,614,553 1,875,345 260,792 2,342,611
Total Revenues 8,774,227 11,276,930 11,725,284 448,354 10,851,636
Expenditures:
Public Works:
Capital projects and acquisition 7,189,635 17,382,962 11,416,938 5,966,024 8,944,116
Excess (Deficiency) of Revenues
Over Expenditures 1,584,592 (6,106,032) 308,346 6,414,378 1,907,520
Other Financing Sources (Uses):
Sale of assets - - 178,066 178,066 85,000
Transfers in 516,000 516,000 - 222,500
Transfers (out) (2,321,825) (2,321,825) (2,204,670) (117,155) (2,322,497)
Total Other Financing Sources (Uses) (2,321,825) (1,805,825) (1,510,604) 60,911 (2,014,997)
Net Change in Fund Balances (737,233) (7,911,857) (1,202,258) 6,475,289 (107,477)
Fund Balances - January 1 754,153 12,109,128 12,109,128 - 12,216,605
Fund Balances - December 31 16,920 4,197,271 10,906,870 6,475,289 12,109,128
The accompanying notes are an integral part of these financial statements
E3
6 -1 -61
Town of Vail, Colorado
Special Revenue Funds
Real Estate Transfer Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Taxes:
Real estate transfer tax 8,230,000 7,230,000 9,091,917 1,861,917 6,536,118
Intergovernmental Revenue:
Lottery revenue 20,000 20,000 24,514 4,514 24,451
Other Federal grants - 2,400 2,400 - -
Total - Intergovernmental Revenue 20,000 22,400 26,914 4,514 24,451
Charges for Services:
Recreation amenities fee 125,000 55,000 54,822 (178) 1,164,574
Land lease to Vail Recreation District 126,708 126,708 122,010 (4,698) 116,472
Total - Charges for Services 251,708 181,708 176,832 (4,876) 1,281,046
Other:
Project reimbursements - 6,000 4,102 (1,898) 246,073
Earnings on investments 200,000 270,000 346,452 76,452 507,277
Other - 118,956 143,461 24,505 227,651
Total - Other 200,000 394,956 494,015 99,059 981,001
Total Revenues 8,701,708 7,829,064 9,789,678 1,960,614 8,822,616
Expenditures:
Culture and Recreation:
Project management 411,500 361,500 435,055 (73,555) 253,591
Park maintenance 1,253,900 1,311,066 1,143,289 167,777 1,085,479
Environmental sustainability 250,000 229,711 166,035 63,676 -
Art in public places 62,167 65,275 78,457 (13,182) 77,111
Public Safety 360,000 248,334 209,750 38,584 -
Public Works:
Capital projects 6,857,089 10,452,659 2,238,099 8,214,560 4,593,551
Total Expenditures 9,194,656 12,668,545 4,270,685 8,397,860 6,009,732
Net Change in Fund Balances (492,948) (4,839,481) 5,518,993 10,358,474 2,812,884
Fund Balances - January 1 6,953,621 11,769,273 11,769,273 - 8,956,389
Fund Balances - December 31 6,460,673 6,929,792 17,288,266 10,358,474 11,769,273
The accompanying notes are an integral part of these financial statements
E4
6 -1 -62
Town of Vail, Colorado
Special Revenue Funds
Conference Center Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Earnings on investments 425,000 225,000 218,193 (6,807) 424,382
Total Revenues 425,000 225,000 218,193 (6,807) 424,382
Expenditures:
Economic Development - - - -
Total Expenditures - - - -
Net Change in Fund Balances 425,000 225,000 218,193 (6,807) 424,382
Fund Balances - January 1 8,921,901 9,046,283 9,046,283 8,621,901
Fund Balances - December 31 9,346,901 9,271,283 9,264,476 (6,807) 9,046,283
The accompanying notes are an integral part of these financial statements
E5
6 -1 -63
Town of Vail, Colorado
Special Revenue Funds
Vail Marketing Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Original Positive
Budget Actual (Negative) Actual
Revenues:
Permits and Licenses:
Business licenses 314,500 312,839 (1,661) 305,414
Other:
Earnings on investments - 3,819 3,819 5,888
Total Revenues 314,500 316,658 2,158 311,302
Expenditures:
Economic Development:
Commission on Special Events 280,000 280,000 - 280,000
Administration fee 15,725 15,642 83 15,200
Total Expenditures 295,725 295,642 83 295,200
Excess (Deficiency) of Revenues
Over Expenditures 18,775 21,016 2,241 16,102
Fund Balances - January 1 55,317 62,619 7,302 46,517
Fund Balances - December 31 74,092 83,635 9,543 62,619
The accompanying notes are an integral part of these financial statements
E6
6 -1 -64
Town of Vail, Colorado
Special Revenue Funds
Vail Local Marketing District
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Taxes:
Lodging tax 2,075,000 2,075,000 2,179,300 104,300 2,063,915
Other:
Earnings on investments 6,500 6,500 8,877 2,377 11,053
Miscellaneous - - 29,935 29,935 3,837
Total - Other 6,500 6,500 38,812 32,312 14,890
Total Revenues 2,081,500 2,081,500 2,218,112 136,612 2,078,805
Expenditures:
Economic Development:
Destination 235,000 435,000 256,124 178,876 158,790
Front Range 484,500 709,500 632,999 76,501 507,246
Groups and meetings 298,940 316,440 325,400 (8,960) 281,433
Marketing 533,000 868,182 796,697 71,485 340,209
Purchased services 680,678 702,996 737,040 (34,044) 573,184
Total Expenditures 2,232,118 3,032,118 2,748,260 283,858 1,860,862
Excess (Deficiency) of Revenues Over Expenditures (150,618) (950,618) (530,148) 420,470 217,943
Other Financing Sources (Uses):
Repayment of debt - (37,000)
Total Other Financing Sources (Uses) (37,000)
Other Financing Sources (Uses):
Transfers in 550,000 550,000
Total Other Financing Sources (Uses) 550,000 550,000 - -
Net Change in Fund Balances (150,618) (400,618) 19,852 420,470 180,943
Fund Balances - January 1 746,793 1,006,736 1,006,736 825,793
Fund Balances - December 31 596,175 606,118 1,026,588 420,470 1,006,736
The accompanying notes are an integral part of these financial statements
E7
6 -1 -65
Town of Vail, Colorado
Special Revenue Funds
Vail Reinvestment Authority
Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Other:
Property Tax 720,000 1,389,107 1,376,171 (12,936) 337,502
Earnings on investments 21,000 21,000 15,062 (5,938) 8,157
Shared costs /project reimbursements 14,567
Total Revenues 741,000 1,410,107 1,391,233 (18,874) 360,226
Expenditures:
Economic Development:
Administration 15,400 25,700 24,441 1,259 -
Treasurer's Fees 21,600 41,673 41,285 388 10,124
Professional fees 50,000 50,000 4,706 45,294 37,829
Capital Outlay - 160,000 151,873 8,127 -
Vail Square Metro District - 149,484 149,482 2 -
Total Expenditures 87,000 426,857 371,787 55,070 47,953
Net Change in Fund Balances 654,000 983,250 1,019,446 36,196 312,273
Fund Balances - January 1 276,833 314,105 314,105 - 1,832
Fund Balances - December 31 930,833 1,297,355 1,333,551 36,196 314,105
The accompanying notes are an integral part of these financial statements
E8
6 -1 -66
SUPPLEMENTARY INFORMATION
6 -1 -67
Town of Vail, Colorado
Debt Service Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Revenues:
Other:
Earnings on investments 50,830 50,830 3,955
Total Revenues - - 50,830 50,830 3,955
Expenditures:
Debt Service:
Principal 1,890,000 1,890,000 1,890,000 - 1,810,000
Interest 432,396 432,396 432,395 1 512,098
Refunding Bonds Issuance Costs - - - - -
Fiscal agent fees 2,500 2,500 2,500 - 900
Total Expenditures 2,324,896 2,324,896 2,324,895 1 2,322,998
(Deficiency) of Revenues
Over Expenditures (2,324,896) (2,324,896) (2,274,065) 50,831 (2,319,043)
Other Financing Sources:
Transfers in 2,321,825 2,321,825 2,204,670 (117,155) 2,322,497
Debt proceeeds, net - 106,760 (96,461) (203,221) -
Issuance costs premium - 203,221 203,221
Issuance costs, net - (115,760) (115,741) 19 -
Total Other Financing Sources (Uses 2,321,825 2,312,825 2,195,689 (117,136) 2,322,497
Net Change in Fund Balances (3,071) (12,071) (78,376) (66,305) 3,454
Fund Balances - January 1 247,154 252,710 252,710 249,256
Fund Balances - December 31 244,083 240,639 174,334 (66,305) 252,710
The accompanying notes are an integral part of these financial statements
F1
6 -1 -68
Town of Vail, Colorado
Enterprise Fund
Timber Ridge Affordable Housing Corporation
Schedule of Revenues, Expenses, and Change in Fund Net Assets
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Operating Revenues:
Rent 2,701,535 2,701 2,830,033 128,498 2,633,552
Laundry room lease 32,360 32,360 32,756 396 29,070
Other 300 300 2,348 2,048 3,464
Total Operating Revenues 2,734,195 2,734,195 2,865,137 130,942 2,666,086
Operating Expenses:
Advertising 2,100 2,100 3,264 (1,164) 2,378
Office expenses 9,780 9,780 13,726 (3,946) 11,205
Management fee 87,000 87,000 87,000 87,000
Telecommunications 6,300 6,300 7,559 (1,259) 7,870
Wages - Administrative 31,665 31,665 31,823 (158) 51,872
Wages - Maintenance and other 153,779 153,779 120,352 33,427 136,675
Repairs and maintenance 127,604 86,004 93,560 (7,556) 119,290
Electric 27,950 27,950 19,616 8,334 25,474
Water and sewer 108,070 108,070 117,543 (9,473) 105,805
Trash removal 16,675 25,875 27,696 (1,821) 17,281
Snow removal 21,200 51,595 55,605 (4,010) 12,434
Fire, life, safety, and security 4,050 4,050 989 3,061 8,689
Property insurance 125,712 125,712 111,562 14,150 145,905
Professional fees 6,250 8,000 8,000 - 6,100
Bad debt expense - - 1,207 (1,207) 1,329
Miscellaneous 3,200 3,200 1,941 1,259 3,196
Mold remediation - - - - 10,182
Life & safety repairs - 202,345 176,041 26,304 195,581
Depreciation 522,612 522,612 522,614 (2) 525,446
Total Operating Expenses 1,253,947 1,456,037 1,400,098 55,939 1,473,712
Operating Income (Loss) 1,480,248 1,278,158 1,465,039 186,881 1,192,374
Non - operating Revenues (Expenses):
Earnings on investments 24,264 24,264 21,161 (3,103) 25,972
Interest expense reimbursement - Rate cap agreement - - - - 42
Interest expense (1,139,880) (989,880) (769,652) 220,228 (1,118,931)
Financing fees (267,268) (267,268) (274,059) (6,791) (273,263)
Amortization of bond issue costs (78,996) (78,996) (53,871) 25,125 (75,922)
Total Non - operating Revenue (Expenses) (1,461,880) (1,311,880) (1,076,421) 235,459 (1,442,102)
Change in Net Assets 18,368 (33,722) 388,618 422,340 (249,728)
The accompanying notes are an integral part of these financial statements
F2
6 -1 -69
Town of Vail, Colorado
Enterprise Fund
Dispatch Services Fund
Schedule of Revenues, Expenses, and Change in Fund Net Assets
Budget (Non -GAAP Basis) and Actual with Reconciliation to GAAP Basis
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Operating Revenues:
Charges and Fees:
Dispatch service fee 535,657 535,657 533,164 (2,493) 512,427
Dispatching contracts 956,694 1,050,439 1,050,439 - 942,204
Other charges - - 7,500 7,500 92,135
Total Operating Revenues 1,492,351 1,586,096 1,591,103 5,007 1,546,766
Operating Expenses:
Public Safety:
Salaries and benefits 1,606,676 1,606,676 1,588,183 18,493 1,399,038
Operating expenses 465,511 478,511 459,767 18,744 397,630
Capital outlay 50,000 142,000 50,121 91,879 -
Total Operating Expenses 2,122,187 2,227,187 2,098,071 129,116 1,796,668
Operating (Loss) - Budget Basis (629,836) (641,091) (506,968) 134,123 (249,902)
Non - operating Revenues:
Operating grant - E -911 Board 582,183 607,183 607,183 - 586,404
Earnings on investments - 12,000 18,763 6,763 38,678
Total Non - operating Revenues 582,183 619,183 625,946 6,763 625,082
Income Before Transfers (47,653) (21,908) 118,978 140,886 375,180
Transfers Out (75,000) (75,000)
Change in Net Assets - Budget Basis (47,653) (96,908) 43,978 140,886 375,180
Reconciliation to GAAP Basis:
Adjustments:
Contribution from External Sources - 33,000
Contribution from Capital Projects Fund 77,860
Change in compensated absences (10,274) (5,207)
Depreciation (226,133) (226,388)
Capitalized assets 50,121
Total Adjustments (186,286) (120,735)
Change in Net Assets - GAAP Basis (142,308) 254,445
The accompanying notes are an integral part of these financial statements
F3
6 -1 -70
Town of Vail, Colorado
Internal Service Funds
Heavy Equipment Fund
Schedule of Revenues, Expenses, and Change in Fund Net Assets
Budget (Non -GAAP Basis) and Actual with Reconciliation to GAAP Basis
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Operating Revenues:
Charges and Fees:
Operating charges 2,142,663 2,297,163 2,403,479 106,316 1,847,451
Replacement charges 653,282 654,665 664,018 9,353 645,958
Total - Charges and Fees 2,795,945 2,951,828 3,067,497 115,669 2,493,409
Other:
Insurance reimbursements 18,000 18,000 33,724 15,724 27,294
Other 20,800 41,857 77,613 35,756 41,761
Total - Other 38,800 59,857 111,337 51,480 69,055
Total Operating Revenues 2,834,745 3,011,685 3,178,834 167,149 2,562,464
Operating Expenses:
Public Works:
Vehicle maintenance and fuel 2,151,043 2,384,314 2,323,840 60,474 1,894,184
Capital outlay 686,300 923,456 640,907 282,549 534,112
Total Operating Expenses 2,837,343 3,307,770 2,964,747 343,023 2,428,296
Operating Income (Loss) - Budget Basis (2,598) (296,085) 214,087 510,172 134,168
Non - operating Revenues:
Earnings on investments 65,000 45,000 41,169 (3,831) 66,476
Proceeds from sale of assets 133,530 133,530 77,964 (55,566) 148,760
Total Non - operating Revenues: 198,530 178,530 119,133 (59,397) 215,236
Change in Net Assets - Budget Basis 195,932 (117,555) 333,220 450,775 349,404
Reconciliation to GAAP Basis:
Adjustments:
Contribution from Capital Projects Fund 44,681 57,489
Net book value of disposed assets (1,562) (49,728)
Depreciation (569,560) (547,745)
Change in accrued compensated absences (5,975) (2,229)
Capitalized assets 640,907 534,112
Total Adjustments 108,491 (8,101)
Change in Net Assets - GAAP Basis 441,711 341,303
The accompanying notes are an integral part of these financial statements
F4
6 -1 -71
Town of Vail, Colorado
Internal Service Funds
Health Insurance Fund
Schedule of Revenues, Expenses, and Change in Fund Net Assets
Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Final Budget
Variance
Original Final Positive
Budget Budget Actual (Negative) Actual
Operating Revenues:
Charges and Fees:
Insurance premiums 2,492,561 2,492,561 2,394,290 (98,271) 2,418,000
Insurance premiums - Employee contributions 285,792 285,792 286,058 266 270,665
Insurer proceeds 7,500 106,482 111,957 5,475 360,839
Total Operating Revenues 2,785,853 2,884,835 2,792,305 (92,530) 3,049,504
Operating Expenses:
General Government:
Health claims 2,425,000 2,425,000 2,163,853 261,147 2,814,181
Premiums 330,553 330,553 287,533 43,020 267,075
Administrative fees 20,000 20,000 20,000 - 17,500
Short -term disability payments 40,000 40,000 7,442 32,558 14,627
Total Operating Expenses 2,815,553 2,815,553 2,478,828 336,725 3,113,383
Operating Income (Loss) (29,700) 69,282 313,477 244,195 (63,879)
Non - operating Revenues:
Earnings on investments 29,700 29,700 35,866 6,166 44,723
Change in Net Assets - GAAP Basis - 98,982 349,343 250,361 (19,156)
The accompanying notes are an integral part of these financial statements
F5
6 -1 -72
Town of Vail, Colorado
Internal Service Funds
Combining Statement of Net Assets
December 31, 2008
Heavy Health
Equipment Insurance
Fund Fund Total
Assets:
Current Assets:
Equity in pooled cash and investments 1,853,306 1,703,162 3,556,468
Accounts receivable, net of allowance for uncollectibles 10,566 2,458 13,024
Inventory 278,142 - 278,142
Prepaid expenses - 1,185 1,185
Total Current Assets 2,142,014 1,706,805 3,848,819
Non - current Assets:
Property, plant, and equipment, net of
accumulated depreciation 3,064,975 - 3,064,975
Total Assets 5,206,989 1,706,805 6,913,794
Liabilities:
Current Liabilities:
Accounts payable 46,204 367,344 413,548
Accrued salaries and wages 31,992 - 31,992
Current portion of compensated absences 22,824 22,824
Total Current Liabilities 101,020 367,344 468,364
Non - current Liabilities:
Compensated absences, net of current portion 34,235 34,235
Total Liabilities 135,255 367,344 502,599
Net Assets:
Invested in capital assets, net of related debt 3,064,975 - 3,064,975
Unrestricted 2,006,759 1,339,461 3,346,220
Total Net Assets 5,071,734 1,339,461 6,411,195
The accompanying notes are an integral part of these financial statements
F6
6 -1 -73
Town of Vail, Colorado
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
For the Year Ended December 31, 2008
Heavy Health
Equipment Insurance
Fund Fund Total
Operating Revenues:
Charges for services - Internal 3,067,497 2,394,290 5,461,787
Charges for services - External - 286,058 286,058
Insurance reimbursements 33,724 111,957 145,681
Other 77,613 - 77,613
Total Operating Revenues 3,178,834 2,792,305 5,971,139
Operating Expenses:
Operations 2,329,815 - 2,329,815
Health claims and premiums - 2,478,828 2,478,828
Depreciation 569,560 - 569,560
Total Operating Expenses 2,899,375 2,478,828 5,378,203
Operating Income (Loss) 279,459 313,477 592,936
Non - operating Revenues (Expenses):
Gain (loss) on disposal of assets 76,402 - 76,402
Investment income 41,169 35,866 77,035
Total Non - operating Revenues (Expenses) 117,571 35,866 153,437
Income (Loss) Before Transfers
and Capital Contributions 397,030 349,343 746,373
Capital Contributions, Net 44,681 44,681
Change in Net Assets 441,711 349,343 791,054
Net Assets - January 1 4,630,023 990,118 5,620,141
Net Assets - December 31 5,071, 734 1,339,461 6,411,195
The accompanying notes are an integral part of these financial statements
F7
6 -1 -74
Town of Vail, Colorado
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2008
Heavy Health
Equipment Insurance
Fund Fund Total
Cash Flows From Operating Activities:
Cash received from other funds 3,067,497 2,394,290 5,461,787
Other cash receipts 121,367 395,557 516,924
Cash paid for goods and services (1,422,729) (2,455,550) (3,878,279)
Cash paid to employees (885,327) (7,442) (892,769)
Net Cash Provided by Operating Activities 880,808 326,855 1,207,663
Cash Flows From Capital and Related Financing Activities:
Cash received from sale of fixed assets 77,964 - 77,964
Acquisition and construction of capital assets (640,907) (640,907)
Net Cash (Used) by Capital and
Related Financing Activities (562,943) (562,943)
Cash Flows From Investing Activities:
Earnings on investments 41,169 35,866 77,035
Net Cash Provided by Investing Activities 41,169 35,866 77,035
Net Increase in Cash and Cash Equivalents 359,034 362,721 721,755
Cash and Cash Equivalents - Beginning 1,494,272 1,340,441 2,834,713
Cash and Cash Equivalents - Ending 1,853,306 1,703,162 3,556,468
Reconciliation of Operating Income (Loss) to Net Cash
Provided by Operating Activities:
Operating income (loss) 279,459 313,477 592,936
Adjustments:
Depreciation 569,560 - 569,560
(Increase) decrease in accounts receivable 10,030 (2,458) 7,572
(Increase) decrease in inventory 15,142 - 15,142
(Increase) decrease in prepaid expenses - 15,991 15,991
Increase (decrease) in accounts payable (13,260) (155) (13,415)
Increase (decrease) in accrued wages and benefits 19,877 19,877
Total Adjustments 601,349 13,378 614,727
Net Cash Provided by Operating Activities 880,808 326,855 1,207,663
Schedule of Non -cash Investing, Capital and Financing Activities:
Assets donated by Capital Projects Fund 44,681 - 44,681
The accompanying notes are an integral part of these financial statements
F8
6 -1 -75
Town of Vail, Colorado
Special Revenue Funds
Capital Projects Fund
Schedule of Project Expenditures - Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Project Final Positive
Number Project Name Budget Actual (Negative) Actual
CB1008 Building Remodels - - - 57,986
CB1010 Fire infrastructure improvements 329,229 6,900 322,329 -
CB1021 Donovan Park Pavilion 13,000 12,908 92 -
CEP001 Fire Truck Purchase / Refurbish - - - 598,568
CEP002 Heavy Duty Tire Changer 3,400 - 3,400 14,100
CEP004 Replace buses 3,840,297 3,688,836 151,461 2,308
CEP005 Software /hardware purchases 79,473 73,969 5,504 120,827
CEP006 800 MHz Radio Replacement 545,500 543,280 2,220 -
CEP008 Parking Entry System 52,985 54,750 (1,765) 422,363
CEP010 Network Upgrades 43,478 39,427 4,051 33,522
CEP011 Document imaging 350,000 243,301 106,699 132,335
CEP016 GPS system for buses - - - 52,750
CEP017 Radio Tower Equipment 5,000 - 5,000 -
CEP018 Web page development 30,000 13,050 16,950 -
CEP019 CAD /RMS dispatch project 58,640 58,959 (319) 77,860
CEP022 Audio Visual 24,000 23,846 154 12,052
CEP023 Video cameras patrol cars 8,000 8,000 - -
CEP030 Vehicle expansion 61,411 44,681 16,730 43,389
CEP031 Software Licensing 8,500 - 8,500 -
CEP032 Police Radio AMP Parking 50,000 45,365 4,635
CEP033 Data Centers / Computer Rooms 35,500 - 35,500
CEP034 Generator Replacement 250,000 229,876 20,124
CHP006 Loan guarantee - Timber Ridge 925,000 - 925,000 -
CHP007 Timber Ridge Legal / Zoning 63,927 44,520 19,407 3,631
CHP010 East Vail Lodging Unit - - - 173,968
CHP011 Vail Heights Unit (Chamonix Lane) - - - 280,841
CHP012 Pitkin Creek Unit 7,350 6,054 1,296 463,121
CHP013 Gore Range Condo Units 2E & 3W 599,452 599,961 (509) -
CHP014 Altair Vail Inn Unit #201 -A 178,066 178,180 (114)
CHP015 Housing Strategic Plan 25,341 12,067 13,274
CMP005 Bio Mass Study 50,000 - 50,000 -
CMT003 Bus shelter replacement program 79,354 25,566 53,788 10,646
CMT004 Capital street maintenance 1,702,280 1,696,772 5,508 816,810
CMT005 Facility capital 568,817 532,918 35,899 489,050
CMT007 Parking structure maintenance 1,163,216 759,598 403,618 339,423
CMT009 Flammable Storage / Mag Chloride 24,000 5,600 18,400 -
CMT010 Underground Utilities 212,783 153,296 59,487 57,217
COE004 Property Tax Increment Reserved 441,000 - 441,000 -
COT002 Street light improvement program 75,000 72,724 2,276 158,874
COT004 Fiber -optic connection 30,000 24,179 5,821 -
COT009 Lionshead improvements 32,242 48,579 (16,337) 81,522
COT011 1 -70 noise mitigation 1,079,282 27,643 1,051,639 8,293
COT014 West Vail area plan 3,406 - 3,406 4,570
COT015 Strategic planning - - - 12,034
COT016 LH Parking Structure RFP 64,857 55,009 9,848 151,505
COT018 Chamonix Area Plan 149,871 149,762 109 -
COT021 1 -70 Fiber Optics 909,128 740,347 168,781 -
CPA003 Wendy's property - purchase - - - 2,052,726
CSCO10 Way- finding improvements 36,416 25,443 10,973 3,480
CSC011 West Meadow Drive 1,720,000 1,119,317 600,683 950,000
CSCO12 Village Streetscape 1,128,761 36,055 1,092,706 286,698
CSCO13 E. Meadow Dr. Streetscape - - - 1,030,000
CSR007 Neighborhood Road Reconstruction 150,000 150,000 -
CSR008 Neighborhood Bridges 75,000 - 75,000 -
CS1001 Manor Vail Development 100,000 16,200 83,800 1,647
Total 17,382,962 11,416,938 5,966,024 8,944,116
The accompanying notes are an integral part of these financial statements
F9
6 -1 -76
Town of Vail, Colorado
Special Revenue Funds
Real Estate Transfer Tax Fund
Schedule of Project Expenditures - Budget (GAAP Basis) and Actual
For the Year Ended December 31, 2008
With Comparative Totals For the Year Ended December 31, 2007
2008 2007
Variance
Project Final Positive
Number Project Name Budget Actual (Negative) Actual
RFP005 Alpine Gardens contribution 90,000 90,000 - 56,275
RFP006 Ford Park Master Plan - Improvements 1,581,340 - 1,581,340 18,660
RFP012 Ford Amphitheater Remodel - - 250,000
RMP001 VRD Agreements - - - 3,215
RMT001 Recreation path maintenance 384,262 325,114 59,148 73,364
RMT002 Tree maintenance 115,931 65,986 49,945 48,865
RMT005 Street furniture - Streetscape 26,143 14,178 11,965 15,857
RMT006 Black Gore Creek sand mitigation 184,000 93,431 90,569 100,000
RMT007 Bear -proof trash containers 2,578 - 2,578 196,922
RMT008 Donovan Park - Building 29,634 - 29,634 -
RMT009 Park capital maintenance 125,229 124,368 861 79,771
RMT010 Stream tract mitigation 64,881 - 64,881 -
RMT011 Retrofit Park Restrooms 78,659 58,075 20,584 93,745
RMT012 Forest Health Management 283,474 49,857 233,617 215,917
RMT013 Environmental Sustainability 83,000 55,507 27,493 192,989
RMT014 Turf Topdresser - - - 10,555
RMT015 Greenhouse 100,000 - 100,000 -
RMT016 Ford Park/ Tennis Center Improvements 78,800 16,800 62,000 39,200
RMT018 Dobson Ice Arena 98,906 38,943 59,963 -
RMT019 Gymnastics Center 29,611 1,338 28,273
RPA001 Property acquisition 551,019 - 551,019 -
RPD001 Master Planning Process 79,543 73,128 6,415 24,957
RPDO05 Donovan Park - Lower Bench 15,409 466 14,943 33,641
RPDO06 Whitewater Park 48,325 27,948 20,377 327,675
RPDO09 Lionshead Park 1,067,000 720 1,066,280 -
RPD011 Skate park 65,000 48,924 16,076 170,290
RPDO13 Kayak Take -out 10,000 - 10,000 -
RP1001 Playground Safety Improvements (Red S.) 465,037 205 464,832 7,206
RP1002 Bighorn Improvements - - - 227,512
RP1003 Irrigation / Raw Water project 9,927 4,175 5,752 461
RP1006 Streamwalk & Safety Improvements 225,000 10,014 214,986 -
RPT007 Trailhead signs /development 33,250 19,149 14,101 16,123
RPT010 Frontage Road Bike & Ped Paths 1,275,000 - 1,275,000 -
RPT014 Cascade bike path 6,977 - 6,977 23
RPT015 Katsos Ranch bike path 346,887 223,020 123,867 679,056
RPT017 Timber Ridge - Buffehr Creek Separation 504,242 - 504,242 21,300
RRT001 Public Art 349,516 131,537 217,979 168,108
RRT003 ADA compliance 100,849 24,968 75,881 25,999
RSS002 Meadow Drive 1,050,000 638,212 411,788 720,000
RSS003 Seibert Circle 323,230 85,534 237,696 775,865
RSS004 Landscape Medians 570,000 16,502 553,498 -
Total 10,452,659 2,238,099 8,214,560 4,593,551
The accompanying notes are an integral part of these financial statements
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LOCAL HIGHWAY FINANCE REPORT
6 -1 -78
Financial Planning 02/01
The public report burden for this information collection is estimated to average 380 hours annually. Form # 350- 050 -36
City or Count Vail
LOCAL HIGHWAY FII Al CE REPORT YEAR ENDING:
December 2008
This Information From The Records Of (example - City of _ or County of_): Prepared By: Kathleen Halloran
1 Phone: 970- 479 -2116
L DISPOSITIOI OF HIGHWAY -USER REVEI UES AVAILABLE FOR LOCAL GOVERI MEI T EXPEI DITURE
A. Local B. Local C. Receipts from D. Receipts from
ITEM Motor -Fuel Motor - Vehicle State Highway- Federal Highway
Taxes Taxes User Taxes Administration
1. Total receipts available
2. Minus amount used for collection expenses
3. Minus amount used for nonhighway purposes
4. Minus amount used for mass transit
5. Remainder used for highway purposes
IL RECEIPTS FOR ROAD Al D STREET PURPOSES III. DISBURSEMEI TS FOR ROAD
Al D STREET PURPOSES
ITEM AMOUNT ITEM AMOUNT
A. Receipts from local sources: A. Local highway disbursements:
1. Local highway -user taxes 1. Capital outlay (from page 2) 2,407,020.08
a. Motor Fuel (from Item LA.5.) 2. Maintenance: 2,840,928.54
b. Motor Vehicle (from Item I.B.5.) 3. Road and street services:
c. Total (a. +b.) a. Traffic control operations 253,187.32
2. General fund appropriations 5,811,118.37 b. Snow and ice removal 1,120,228.28
3. Other local imposts (from page 2) 951,128 c. Other
4. Miscellaneous local receipts (from page 2) 0 d. Total (a. through c.) 1,373,415.60
5. Transfers from toll facilities 4. General administration & miscellaneous 290,392.55
6. Proceeds of sale of bonds and notes: 5. Highwav law enforcement and safety 1,067,442.60
a. Bonds - Original Issues 6. Total (1 through 5) 7,979,199.37
b. Bonds - Refunding Issues B. Debt service on local obligations:
c. Notes 1. Bonds:
d. Total (a. + b. + c.) 0 a. Interest
7. Total (1 through 6) 6,762,246.37 b. Redemption
B. Private Contributions 1,012,238.00 c. Total (a. + b.)
C. Receipts from State government 2. Notes:
(from page 2) 204,715.00 a. Interest
D. Receipts from Federal Government b. Redemption
(from page 2) - c. Total (a. + b.)
E. Total receipts (A.7 + B + C + D) 7,979,199.37 3. Total (l.c + 2.c)
C. Payments to State for highways
D. Payments to toll facilities
E. Total disbursements (A.6 + B.3 + C + D) 7,979,199.37
IV. LOCAL HIGHWAY DEBT STATUS
(Show all entries at par)
Opening Debt Amount Issued Redemptions Closing Debt
A. Bonds (Total) 0
1. Bonds (Refunding Portion)
B. I otes (Total) 0
V. LOCAL ROAD Al D STREET FUI D BALAI CE
A. Beginning Balance B. Total Receipts C. Tota I Disbursements D. Ending Balance E. Reconciliation
7,979,199.37 7,979,199.37 (0.00)
I otes and Comments:
FORM FHWA -536 (Rev. 1 -05) PREVIOUS EDITIONS OBSOLETE (Next Page)
Fl l Local Hwy Rpt 06
6 -1 -79
STATE:
Colorado
LOCAL HIGHWAY FII Al CE REPORT YEAR ENDING (mm /yy):
December 2008
IL RECEIPTS FOR ROAD Al D STREET PURPOSES - DETAIL
ITEM AMOUI T ITEM AMOUI T
A.3. Other local imposts: A.4. Miscellaneous local receipts:
a. Property Taxes and Assessments a. Interest on investments
b. Other local imposts: b. Traffic Fines & Penalities
1. Sales Taxes c. Parking Garage Fees
2. Infrastructure & Impact Fees d. Parking Meter Fees
3. Liens e. Sale of Surplus Property
4. Licenses f Charges for Services
5. Specific Ownership & /or Other 951,128 g. Other Misc. Receipts
6. Total (1. through 5.) 951,128 h. Other
c. Total (a.+ b.) 951,128 i. Total (a. through h.) 0
(Carry forward to page 1) (Carry forward to page 1)
ITEM AMOUI T ITEM AMOUI T
C. Receipts from State Government D. Receipts from Federal Government
1. Highway -user taxes 179,606 1. FHWA (from Item LD.5.)
2. State general funds 2. Other Federal agencies:
3. Other State funds: a. Forest Service
a. State bond proceeds b. FEMA
b. Project Match c. HUD
c. Motor Vehicle Registrations 25,109 d. Federal Transit Admin
d. Other (Specify) e. U.S. Corps of Engineers
e. Other (Specify) f Other Federal
f Total (a. through e.) 25,109 g. Total (a. through f.) 0
4. Total (1. + 2. + 3.17) 204,715 3. Total (1. + 2.g)
(Carry forward to page 1)
III. DISBURSEMEI TS FOR ROAD Al D STREET PURPOSES - DETAIL
ON NATIONAL OFF NATIONAL
HIGHWAY HIGHWAY TOTAL
SYSTEM SYSTEM
(a) (b) (c)
A.I. Capital outlay:
a. Right -Of -Way Costs 0
b. Engineering Costs 128,570 128,570
c. Construction:
(1). New Facilities 0
(2). Capacity Improvements 0
(3). System Preservation 2,278,450 2,278,450
(4). System Enhancement & Operation 0
(5). Total Construction (1) + (2) + (3) + (4) 0 2,278,450 2,278,450
d. Total Capital Outlay (Lines La. + Lb. + 1.c.5) 0 2,407,020 2,407,020
(Carry forward to page 1)
I otes and Comments:
FORM FHWA -536 (Rev. 1-05) PREVIOUS EDITIONS OBSOLETE
F12
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UNDERTAKING TO PROVIDE CONTINUING DISCLOSURE
6 -1 -81
Town of Vail, Colorado
Issuer's Annual Report
Update of Official Statement Tables to be Updated
Tables I, III, and IV
December 31, 2008
TABLE
Debt Service Coverage
2004 2005 2006 2007 2008
Pledged Revenues 15,466,981 16,483,979 17,841,680 18,913,138 19,631,366
Maximum Annual Debt Service 2,324,457 2,324,457 2,324,457 2,324,457 2,324,457
Coverage Factor 6.65x 7.09x 7.68x 8.14x 8.45x
TABLE III
History of Town 4% Sales Tax Receipts
2004 2005 2006 2007 2008
Sales Tax Collections (see Note below) 15,466,979 16,483,979 17,841,680 18,913,138 19,631,366
Per Cent Increase 6.09% 6.58% 8.24% 6.01% 3.80%
Note:
The reported Sales Tax Collections vary from the sales tax revenues reported in the Town's audited financial statements because
one -time payments of sales tax on, for example, the sale of business assets or the settlement of a sales tax claim, are not included
above.
TABLE IV
Monthly Comparison of Collections of Sales Tax
12 -month Period Ended 12 -month Period Ended
December 31, 2007 December 31, 2008 Percent Change
Current Year Current Year Current Year
Month Month To Date Month To Date Month To Date
January 2,783,306 2,783,306 2,976,655 2,976,655 6.9% 6.9%
February 2,718,643 5,501,949 3,071,615 6,048,270 13.0% 9.9%
March 2,986,446 8,488,395 3,327,304 9,375,574 11.4% 10.5%
April 1,330,740 9,819,135 1,098,918 10,474,492 -17.4% 6.7%
May 545,874 10,365,009 622,103 11,096,595 14.0% 7.1%
June 953,017 11,318,026 918,061 12,014,656 -3.7% 6.2%
July 1,265,781 12,583,807 1,397,842 13,412,498 10.4% 6.6%
August 1,162,746 13,746,553 1,349,795 14,762,293 16.1% 7.4%
September 908,318 14,654,871 834,569 15,596,862 -8.1% 6.4%
October 688,519 15,343,390 662,767 16,259,629 -3.7% 6.0%
November 747,877 16,091,267 719,109 16,978,738 -3.8% 5.5%
December 2,821,871 18,913,138 2,652,628 19,631,366 -6.0% 3.8%
G1
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Town of Vail, Colorado
Issuer's Annual Report
Update of Official Statement of Tables to be Updated
Tables V and VI
December 31, 2008
TABLE V
Sales Tax Collections by Principal Sales Tax Generators
2004 2005 2006 2007 2008
Annual Sales Tax Paid by
Ten Principal Generators 4,996,562 5,401,230 5,886,609 6,123,462 6,404,706
Total Annual Sales Tax Collected by Town 15,466,979 16,483,979 17,841,680 18,913,138 19,631,366
% of Total Annual Sales Tax Collections
Generated by Ten Principal Generators 32.3% 32.8% 33.0% 32.4% 32.6%
TABLE VI
Capital Projects Fund: 2008 Actual / Projected 2009 - 2012
2008 2009 2010 2011 2012
Revenues:
Sales tax 8,171,920 7,540,000 8,187,126 8,457,926 8,677,526
Construction Use Tax 608,483 1,000,000 1,000,000 1,000,000 1,000,000
Employee Housing Fee - in - Lieu 529,481 48,000 48,000 48,000 48,000
Federal grants 815,577 1,400,000 4,428,000 600,000 -
Lease revenue 188,160 188,550 192,300 192,300 192,300
Project reimbursment 982,360 - - - -
Intergovernmental grants 53,600
Transfers in 516,000 - - - -
Earnings on investments and other 553,768 18,750 59,431 21,399 58,356
Total Revenues 12,419,349 10,195,300 13,914,857 10,319,625 9,976,182
Expenditures:
Land purchases - - - - -
Equipment purchases 5,345,639 965,080 3,163,600 1,941,400 287,000
Maintenance 803,814 538,500 595,000 968,000 1,114,000
Buildings and improvements 782,599 810,000 1,420,000 1,536,000 1,285,000
Street projects 3,103,607 1,885,000 6,151,000 1,775,000 8,655,000
Housing programs 840,782 560,000 560,000 560,000 500,000
Lionshead redevelopment 103,588 - - - -
Other improvements 436,909 30,000 410,000 360,000 280,000
Other Financing - - - - -
Transfer to Vail Reinvestment Authority - 1,400,000 3,600,000 - -
Transfer to Debt Service Fund 2,204,670 2,266,775 2,263,531 2,272,831 2,264,825
Total Expenditures 13,621,608 8,455,355 18,163,131 9,413,231 14,385,825
Revenues Over (Under)
Expenditures (1,202,259) 1,739,945 (4,248,274) 906,394 (4,409,643)
Beginning Fund Balance 12,109,128 10,906,869 12,646,814 8,398,540 9,304,934
Ending Fund Balance 10,906,869 12,646,814 8,398,540 9,304,934 4,895,291
G2
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Town of Vail, Colorado
Issuer's Annual Report
Updateo of Official Statement Tables to be Updated
Table XIX
December, 31, 2008
TABLE XIX
History of General Fund Revenues, Expenditures and Changes in Fund Balance
2004 2005 2006 2007 2008
Revenues:
General sales taxes 8,881,480 8,796,600 9,345,660 10,741,500 11,640,000
Property and ownership taxes 2,621,493 2,627,877 2,931,347 3,012,030 4,309,622
Ski area lift ticket admissions tax 2,496,162 2,777,698 2,975,097 3,039,619 3,277,703
Franchise fees 676,538 842,529 862,220 858,285 1,052,665
Penalties and interest
on delinquent taxes 23,111 22,014 22,108 19,348 22,544
Licenses and permits 1,685,277 2,552,470 3,561,757 5,083,017 3,903,026
Intergovernmental revenues 1,435,982 1,401,068 1,477,270 1,509,040 1,706,197
Charges for services 4,092,973 4,588,403 4,767,097 5,351,540 5,817,239
Fines and forfeits 210,497 215,105 286,197 347,090 396,707
Interest 172,806 428,851 820,136 984,040 571,072
Rents 803,939 780,214 827,280 897,958 949,961
Other 359,829 538,808 501,699 195,016 163,025
Total Revenues 23,460,087 25,571,637 28,377,868 32,038,483 33,809,761
Expenditures:
General government 5,065,363 5,549,232 6,596,987 7,730,300 7,715,791
Public safety 5,885,632 6,309,595 6,534,712 7,104,904 7,624,590
Public works and transportation 8,252,331 9,312,136 9,625,653 10,365,091 11,779,063
Economic development and
community assistance 1,175,574 1,024,207 1,183,645 1,461,991 1,703,092
Municipal library 657,952 658,886 664,856 752,031 828,056
Total Expenditures 21,036,852 22,854,056 24,605,853 27,414,317 29,650,592
Excess of Revenues
Over Expenditures 2,423,235 2,717,581 3,772,015 4,624,166 4,159,169
Other Financing Sources (Uses):
Sale of asset - - - - -
Operating transfers in 27,435 29,300
Operating transfers out (1,773,800) (126,687) (2,012,772) (222,500) (991,000)
Total Other Financing Sources (Uses) (1,746,365) (97,387) (2,012,772) (222,500) (991,000)
Excess of Revenues
Over Expenditures and Other
Financing Sources (Uses) 676,870 2,620,194 1,759,243 4,401,666 3,168,169
Fund Balance:
Beginning 10,376,744 11,053,614 13,673,808 15,433,051 19,834,717
Ending 11,053,614 13,673,808 15,433,051 19,834,717 23,002,886
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Town of Vail, Colorado
Issuer's Annual Report
Update of Official Statement of Tables to be Updated
Tables XX and XXI
December 31, 2008
TABLE XX
General Fund
2008 Budget Summary and Actual Comparison 1 2009 Budget
2008
Amended 2008 2009
Budget Actual Budget
Revenues:
General sales taxes 11,640,000 11,640,000 11,860,000
Property and ownership taxes 4,293,500 4,309,622 4,293,500
Resort fees 3,123,852 3,277,703 3,190,000
Franchise fees 926,110 1,075,209 899,935
Licenses and permits 3,501,950 3,903,025 1,755,200
Intergovernmental revenues 1,705,060 1,706,198 1,308,719
Charges for services 5,936,242 5,817,240 6,479,582
Fines and forfeits 259,000 396,707 260,000
Interest 585,000 571,072 495,000
Rents and other 954,207 1,112,985 854,300
Total 32,924,921 33,809,761 31,396,236
Expenditures:
Town officials 1,259,823 1,224,007 1,298,703
Administrative 3,390,741 3,164,384 3,466,328
Community development 3,473,684 3,327,400 3,282,081
Public safety - Police 4,813,783 4,514,339 4,871,111
Public safety - Fire 2,570,563 2,577,087 2,769,703
Public works 3,606,971 3,717,159 3,726,449
Transportation & Parking 4,665,554 4,780,515 4,723,939
Facility maintenance 3,464,602 3,442,983 3,945,981
Public library 842,762 828,056 854,593
Contributions and special events 1,572,087 1,541,498 1,501,713
Dispatch service charges 535,657 533,164 543,072
Total 30,196,227 29,650,592 30,983,673
Revenue Over Expenditures 2,728,694 4,159,169 412,563
Other Financing Sources (Uses):
Transfer (out) (991,000) (991,000) (375,000)
Total Other Financing (Uses) (991,000) (991,000) (375,000)
Excess of Revenues Over (Under)
Expenditures and Other Financing (Uses) 1,737,694 3,168,169 37,563
Fund Balance - January 1 19,834,717 19,834,717 23,002,886
Fund Balance - December 31 21,572,411 23,002,886 23,040,449
TABLE XXI
Outstanding Revenue Obligations
Outstanding
Issue Principal
Sales Tax Revenue Refunding Bonds, Series 2008 6,300,000
Sales Tax Revenue Refunding Bonds, Series 20028 2,025,000
Housing Facilities Revenue Bonds, Series 2003A 19,025,000
Housing Facilities Revenue Bonds Subordinate, Series 20038 885,000
Total 28,235,000
G4
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SINGLE AUDIT REPORTS AND SCHEDULES
6 -1 -K6
MCMAHAN AND ASSOCIATES, L. L.C.
Certified Public Accountants and Consultants
WEB SITE: WWW.MCMAHANCPA.COM
SUITE 222 /AVON CENTER TELEPHONE: (970) 845
1 00 WEST BEAVER CREEK BLVD. FACSIMILE: (970) 845 - 085 1
P.O. BOX 5850 AVON, CO 81620 E - MAIL: MCMAHAN @MCMAHANCPA.COM
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENTAL AUDITING STANDARDS
To the Mayor and Members of Council
Town of Vail, Colorado
Vail, Colorado
We have audited the financial statements of the governmental activities, the business -type activities, each
major fund, and the aggregate remaining fund information of Town of Vail, Colorado (the "Town ") as of
and for the year ended December 31, 2008, which collectively comprise the Town's basic financial
statements and have issued our report thereon dated May 15, 2009. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Town's internal control over financial reporting in
as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the Town's internal
control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the
Town's internal control over financial reporting.
A control deficiency exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A significant deficiency is a control deficiency, or a combination of
control deficiencies, that adversely affects the entity's ability to initiate, authorize, record, process, or
report financial data reliably in accordance with general accepted accounting principles such that there is
more than a remote likelihood that a misstatement of the entity's financial statements that is more than
inconsequential will not be prevented or detected by the entity's internal control. A material weakness is
a significant deficiency, or combination of significant deficiencies that results in more than a remote
likelihood that a material misstatement of the financial statements will not be prevented or detected by the
entity's internal control.
Our consideration of internal control over financial reporting was for the limited purpose described in the
first paragraph of this section and would not necessarily identify all deficiencies in internal control that
might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal
control over financial reporting that we consider to be material weaknesses, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Town's financial statements are free of
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The
results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
Performing services for local governments throughout Colorado
D. Jerry McMahan, C.P.A. Daniel R. Cudahy, C.P.A.
Paul J. Backes, C.P.A. Michael N. Jenkins, C.A., C.P.A.
Members: American Institute of Certified Public Accountants /Colorado Society of Certified Public Accountants
National and Colorado Government Finance Officers Association /Colorado Municipal League
6 -1 -8HI
To the Mayor and Members of Council
Town of Vail, Colorado
Vail, Colorado
This report is intended solely for the information and use of management, others within the entity, federal
awarding agencies and pass- through entities and is not intended to be and should not be used by anyone
other than these specified parties.
A A401'_ a-J kv_t- �A
McMahan and Associates, L.L.C.
May 15, 2009
6 -1 - " 2
MCMAHAN AND ASSOCIATES, L. L.C.
M Certified Public Accountants and Consultants
WEB SITE: WWW.MCMAHANCRA.COM
SUITE 222 /AVON CENTER TELEPHONE: (970) 845 - 8800
1 00 WEST BEAVER CREEK BLVD. FACSIMILE: (970) 845 1
A g P.O. BOX 5850 AVON, CO 8 1 620 E - MAIL: MCMAHAN@Q MCMAHANCPA.COM
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH
MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULAR A -133
To the Mayor and Members of Council
Town of Vail, Colorado
Vail, Colorado
Compliance
We have audited the compliance of the Town of Vail, Colorado (the "Town ") with the types of compliance
requirements described in the U.S. Office of Management and Budget (OMB) CircularA -133 Compliance
Supplement that are applicable to each of its major federal programs for the year ended December 31,
2008. The Town's major federal programs are identified in the summary of auditor's results section of the
accompanying schedule of findings and questioned costs. Compliance with the requirements of laws,
regulations, contracts and grants applicable to each of its major federal programs is the responsibility of
the Town's management. Our responsibility is to express an opinion on the Town's compliance based on
our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; and OMB Circular A -133, Audits of
States, Local Governments, and Non - Profit Organizations. Those standards and OMB Circular A -133
require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance
with the types of compliance requirements referred to above that could have a direct and material effect
on a major federal program occurred. An audit includes examining, on a test basis, evidence about the
Town's compliance with those requirements and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.
Our audit does not provide a legal determination on the Town's compliance with those requirements.
In our opinion, the Town of Vail, Colorado complied, in all material respects, with the requirements
referred to above that are applicable to each of its major federal programs for the year ended December
31, 2008.
Internal Control Over Compliance
The management of the Town is responsible for establishing and maintaining effective internal control
over compliance with requirements of laws, regulations, contracts, and grants applicable to federal
programs. In planning and performing our audit, we considered the Town's internal control over
compliance with requirements that could have a direct and material effect on a major federal program in
order to determine our auditing procedures for the purpose of expressing our opinion on compliance, but
not for the purpose of expressing an opinion on the effectiveness of the Town's internal control over
compliance. Accordingly, we do no express an opinion on the effectiveness of the Town's internal control
over compliance.
Performing services for local governments throughout Colorado
D. Jerry McMahan, C.P.A. Daniel R. Cudahy, C.P.A.
Paul J. Backes, C.P.A. Michael N. Jenkins, C.A., C.P.A.
Members: American Institute of Certified Public Accountants /Colorado �Society of Certified Public Accountants
National and Colorado Government finance Officers Association /Colorado Municipal League
6 -1 -R3
To the Mayor and Members of Council
Town of Vail, Colorado
Vail, Colorado
A control deficiency in an entity's internal control over compliance exists when the design or operation of
a control does not allow management or employees, in the normal course of performing their assigned
functions, to prevent or detect noncompliance with a type of compliance requirement of a federal program
on a timely basis. A significant deficiency is a control deficiency, or a combination of control deficiencies,
that adversely affects the entity's ability to administer a federal program such that there is more than a
remote likelihood that noncompliance with a type of compliance requirement of a federal program that is
more than inconsequential will not be prevented or detected by the entity's internal control. A material
weakness is a significant deficiency, or combination of significant deficiencies that results in more than a
remote likelihood that material noncompliance with a type of compliance requirement of a federal program
will not be prevented or detected by the entity's internal control.
Our consideration of the internal control over compliance was for the limited purpose described in the first
paragraph of this section and would not necessarily disclose all deficiencies in internal control that might
be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control
over compliance that we consider to be material weaknesses, as defined above.
This report is intended solely for the information and use management, federal awarding agencies and
pass- through entities and is not intended to be and should not be used by anyone other than these
specified parties.
196AA4 4AAJ
McMahan and Associates, L.L.C.
May 15, 2009
6 -1 -444
Town of Vail, Colorado
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the Year Ended December 31, 2008
Part I: Summary of Auditor's Results
Financial Statements
Type of auditor's report issued Unqualified
Internal control over financial reporting:
Material weakness identified None noted
Reportable condition identified that is not
considered to be material weaknesses None reported
Noncompliance material to financial
statements noted None noted
Federal Awards
Internal control over major programs:
Material weakness identified None noted
Reportable conditions identified that is not
considered to be material weaknesses None reported
Type of auditor's report issued on compliance
for major programs Unqualified
Any audit findings disclosed that are required
to be reported in accordance with section
510(a) of Circular A -133 None noted
Major program — Discretionary Funding Section 5309 CFDA #20.500
Dollar threshold used to identify Type A
from Type B programs $300,000
Identified as low -risk auditee No
Part II: Findings Related to Financial Statements
Findings related to financial statements as
required by Government Auditing Standards None noted
Auditor - assigned reference number Not applicable
Part III: Findings Related to Federal Awards
Internal control findings None noted
Compliance findings None noted
Questioned costs None noted
Auditor - assigned reference number Not applicable
H5
6 -1 -91
Town of Vail, Colorado
SCHEDULE OF PRIOR AUDIT FINDINGS AND QUESTIONED COSTS
For the Year Ended December 31, 2008
(Continued)
Note: There were no findings for the fiscal year ended December 31, 2007.
H6
6 -1 -92
Town of Vail, Colorado
Schedule of Expenditures of Federal Awards
For the Year Ended December 31, 2008
Federal
CFDA Major
Program Title Number Program Expenditures
Federal Transportation Agency
Discretionary Funding Section 5309 20.500 Yes 815,577
Total - Federal Transportation Agency 815,577
Department of Justice:
Bulletproof vest program 16.607 No 2,807
Passed through Colorado Department of Criminal Justice:
Law Enforcement Assistance 16.305 No 20,838
Total - U.S. Department of Justice 23,645
Total 839,222
Notes to the Schedule of Expenditures of Federal Awards for the year ended December 31, 2008
Note 1. Basis of Presentation:
The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Town of Vail and is presented on the modified
accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A -133,
Audits of States, Local Governments, and Non - Profit Organizations. Therefore, some amounts presented in this schedule may differ
from amounts presented in or used in the preparation of the general purpose financial statements.
Note 2. Sub - recipients:
The Town of Vail did not provide any federal funds listed in the Schedule of Expenditures of Federal Awards to sub - recipients.
The accompanying notes are an integral part of these financial statements.
H7
6 -1 -9;
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Award Roadway Slurry Seal Maintenance Contract.
PRESENTER(S): Tom Kassmel
ACTION REQUESTED OF COUNCIL: Authorize the Town Manager to enter into an
agreement with A -1 Chipseal Company to complete the 2009 Capital Street Maintenance
Slurry Seal Project.
BACKGROUND: Staff has received bids from three contractors for the 2009 Capital Street
Maintenance Slurry Seal Project, with A -1 Chipseal Company being the low bidder. The
project was publically bid using Bid Bridge, a reverse auction public bid process. This is the
first time Vail has used this type of reverse auction process, as a result of a presentation made
by Bid Bridge last fall. The process was successful and resulted in a low bid, well below the
budgeted estimate. The following are the three final bids:
A -1 Chipseal Company $137,687.90
Quality Resurfacing Co $139,700.50
Intermountain slurry seal $173,500.00
STAFF RECOMMENDATION: Authorize the Town Manager to enter into an agreement with
A -1 Chipseal Company to complete the 2009 Capital Street Maintenance Slurry Seal Project,
in the amount of $137,687.90.
ATTACHMENTS:
Bid Histrory Graph
Bid Bridge Event History Report
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: First reading of Ordinance No. 12, Series of 2009, an ordinance establishing
Special Development District No. 41, the Vail Row Houses, pursuant to Article 12 -9A, Special
Development (SDD) District, Vail Town Code, and setting forth details in regard thereto.
PRESENTER(S): Bill Gibson
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny
Ordinance No. 12, Series of 2009, on first reading.
BACKGROUND: On May 5, 2009, the Town Council tabled the first reading of Ordinance No.
12, Series of 2009, to its June 2, 2009, hearing by vote of 5 -1 -0 (Foley opposed).
STAFF RECOMMENDATION: The Planning and Environmental Commission recommends
that the Town Council approves, on first reading, Ordinance No. 12, Series of 2009, an
ordinance establishing Special Development District No. 41, the Vail Row Houses, pursuant to
Article 12 -9A, Special Development (SDD) District, Vail Town Code, and setting forth details in
regard thereto.
ATTACHMENTS:
Town Council memo
Ordinance No. 12, Series of 2009
Applicant request
Development Plan
MEMORANDUM
TO: Vail Town Council
FROM: Community Development Department
DATE: June 2, 2009
SUBJECT: First reading of Ordinance No. 12, Series of 2009, an ordinance establishing
Special Development District No. 41, the Vail Row Houses, pursuant to Article
12 -9A, Special Development (SDD) District, Vail Town Code, and setting forth
details in regard thereto. (PEC080074)
Applicant: Christopher Galvin, represented by K.H. Webb Architects and
Mauriello Planning Group
Planner: Bill Gibson
I. DESCRIPTION OF THE REQUEST
The applicant, Christopher Galvin, represented by K.H. Webb Architects and Mauriello
Planning Group, is requesting a first reading of Ordinance No. 12, Series of 2009, an
ordinance establishing Special Development District No. 41, the Vail Row Houses,
pursuant to Article 12 -9A, Special Development (SDD) District, Vail Town Code, and
setting forth details in regard thereto.
The existing Vail Row Houses were originally developed under Eagle County jurisdiction
as a townhouse development with individually subdivided lots. The subject properties
were subsequently annexed by the Town of Vail and zoned High Density Multiple - Family
(HDMF) District. The HDMF District is intended to regulate multi -unit condominium style
developments with a single, common development site. The HDMF District was not
intended to regulate townhouse style develop; and therefore, the existing Vail Row
Houses are legally non - conforming in regard to many of the HDMF standards. The
purpose of the proposed special development district is to create a "townhouse" style
zoning for the Vail Row Houses and to facilitate future conforming redevelopment.
II. BACKGROUND
The Planning and Environmental Commission held work sessions to discuss this request
at its December 22, 2008, and March 9, 2009, public hearings. On April 13, 2009, the
Planning and Environmental Commission voted 5 -0 -0 to forward a recommendation of
approval to the Town Council for the proposed special development district.
On May 5, 2009, the Town Council discussed this proposed ordinance and tabled the
first reading until its June 2, 2009, public hearing. Since the Council May 5th
discussions, the applicant has amended their request to further address the concerns
noted by the Council. The amendments include the follow:
• The applicant is no longer requesting an east side setback deviation for Lot 13.
The setback for Lot 13 will remain the existing 20 foot minimum.
• The applicant is proposing that upon redevelopment each individual lot will be
required to reduce the number of dwelling units of the lot to only one. This
1
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requirement will eliminate the need for future additional parking spaces, so the
applicant's previous proposal to provide payments -in -lieu or off -site deeded
parking spaces has been withdrawn.
• The applicant is now proposing to further limit the allowable building height
adjacent to Gore Creek Drive from the previously proposed 45 feet to 35 feet.
• The applicant is proposing that upon redevelopment each individual lot will make
a $10,000 contribution to the Town of Vail for public art or improvements to
Roger Staub Park.
Theses proposed amendments have been integrated into the attached Ordinance No. 12,
Series of 2009.
II. STAFF ANALYSIS
Staff believes the applicant's recent amendments to the proposed special development
district application addresses some of the concerns expressed by the Council at its May
5 th hearing; however, Staff still has concerns about elements of the proposal as outlined
in Staff's April 13, 2009, memorandum to the Planning and Environmental Commission.
Staff supported the applicant's original proposal to create a special development district
intended to create a more efficient development review process for future renovations to
The Vail Row Houses. This original application did not propose any increases to the
existing development potential for the subject properties or significant deviations from
the Town's adopted review process or land use policies.
During the course of the Planning and Environmental Commission's review, the
applicant amended the proposal to include increases to the allowable development
potential of The Vail Row Houses by increasing the GRFA limits (gross residential floor
area) for each of the subject lots and proposing encroachments by the Lot 13 unit into
the required eastern side setback adjacent to Roger Staub Park. Since the Council's
May 5 th hearing, the applicant has withdrawn the request to allow the Lot 13 unit to
encroach into the existing eastern setback requirement.
In addition to proposing deviations to the zoning standards for The Vail Row Houses, the
applicant is also proposing deviations from the special development district
implementation and review procedures established by the Town Code.
The proposed ordinance will grant permanent development standard deviations to The
Vail Row Houses (landscape area deficiencies, parking space encroachments into Gore
Creek Drive, deck/patio encroachments into the Gore Creek required setbacks, etc.)
which in practice will exempt these deviations from the requirements of Chapter 12 -18,
Nonconforming Sites, Use, Structures, and Site Improvements, Vail Town Code. The
Town of Vail will be unable to require these existing nonconformities to become more
conforming, or fully conforming, through the review of future redevelopment applications.
The proposed ordinance will allow the existing parking space encroachments within the
Town owned Gore Creek Drive Right -of -Way in perpetuity. While the proposed
ordinance requires the lot owners to obtain Revocable Right -of -Way Permits, in practice
those permits will not be revocable by the Town. Staff believes the Council should
consider memorializing these permanent encroachments into the right -of -way through
the sale or dedication of this property to The Vail Row Houses or with the establishment
of a permanent parking and access easement, rather than through a non - revocable
Revocable Right -of -Way Permit.
In Section E of the ordinance the applicant is proposing to allow the consolidation of
2
ti -1 3
dwelling units on the individual lots of the Vail Row Houses without any future
amendments to the proposed special development district. This is a deviation from the
amendment and public notice requirements for special development districts established
by Section 12- 9A -10, Amendment Procedures, Vail Town Code, which require both
Planning and Environmental Commission and Town Council review and approval for any
change in the number of dwelling units in a special development district.
In Section J of the ordinance the applicant is proposing that the approval of this special
development district has no expiration. This is a deviation from Section 12- 9A -12, Time
Requirements, Vail Town Code, which establishes a three year time limit for beginning
the construction of any special development district. This section then establishes a one
year time limit for the beginning of subsequent phases of a special development district.
The Planning and Environmental Commission and the Town Council may grant approval
of the "reestablishment" of special development districts that do not meet these time
requirements.
In Section J of the ordinance the applicant is proposing that future amendments to this
special development district that affect only one lot will not require written approval from
the other owners within the district. This is a deviation from the Town's established joint
property owner approval policies.
As a condition of approval, the applicant is proposing that each lot owner will contribute
$10,000 (a total of $70,000 for The Vail Row Houses) to the Town of Vail for either
public art or improvements to the adjacent Roger Staub Park prior to the issuance of a
building permit for additions to an individual unit. The applicant is not proposing a single
upfront contribution, but instead a series of seven individual contributions which may, or
may not, occur over a period of time. Staff has concerns that these payment
requirements may need to be tracked over a period of many years.
Also as a condition of approval, the applicant is proposing that the owner of Lot 13
dedicate a portion of property to the Town of Vail. The Council needs to be aware that
the applicant is proposing that the Town's use of this property be limited to passive
outdoor recreation uses. Pursuant to Chapter 12 -2, Definitions, Vail Town Code,
passive outdoor recreation is defined as "outdoor recreation activities which involve
unstructured recreation which does not require facilities or special grounds. Passive
outdoor recreation would include: picnicking, fishing, walking, hiking, cross country
skiing, informal playing fields, etc."
III. PLANNING AND ENVIRONMENTAL COMMISSION RECOMMENDATION
The Planning and Environmental Commission forwarded a recommendation of
approval to the Town Council for the establishment of the proposed special
development district, and setting forth details in regard thereto. Should the Town
Council choose to approve this request, the Planning and Environmental Commission
recommended the Town Council passes the following motion:
"The Town Council approves, on first reading, Ordinance No. 12, Series of 2009,
an ordinance establishing Special Development District No. 41, the Vail Row
Houses, pursuant to Article 12 -9A, Special Development (SDD) District, Vail
Town Code, and setting forth details in regard thereto."
Should the Town Council choose to approve this request; the applicant requests the
Town Council applies the following condition(s) based upon the applicant's amended
3
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proposal:
1. "Prior to the addition of GRFA to any dwelling unit within The Vail Row
House SDD, the owner of Lot 13 shall dedicate the 915 sq. ft. (10 -foot wide)
strip of land as indicated on the Approved Development Plan located on the
east side of Lot 13 to the Town of Vail. This dedication shall be processed
as part of a subdivision application for Lot 13. The 915 sq. ft. dedication
shall be restricted to passive park use.
2. The applicant agrees that The Vail Row Houses shall provide $70,000 to the
Town of Vail to be used for public art or Roger Staub park improvements, at
the Town's discretion. The funds will be provided by individual property
owners prior to receiving a building permit for redevelopment of and the
addition of GRFA to individual properties at a rate of $10,000 per lot."
Should the Town Council choose to approve this request, the Planning and
Environmental Commission recommended the Town Council makes the following
findings:
"Based upon the review of the criteria outlined in Section IV of Staff's April 27,
2009, memorandum and the evidence and testimony presented, the Town
Council finds:
'I. That the SDD complies with the standards listed in subsection A of this
section, and that a practical solution consistent with the public interest has been
achieved; and
2. That the SDD is consistent with the adopted goals, objectives and policies
outlined in the Vail comprehensive plan and compatible with the development
objectives of the town; and
3. That the SDD is compatible with and suitable to adjacent uses and appropriate
for the surrounding areas; and
4. That the SDD 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. "
IV. ATTACHMENTS
A. Ordinance No. 12, Series of 2009
B. Applicant's amended request, dated May 19, 2009
4
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ORDINANCE NO. 12
Series of 2009
AN ORDINANCE ESTABLISHING SPECIAL DEVELOPMENT DISTRICT NO. 41 THE VAIL
ROW HOUSES, PURSUANT TO ARTICLE 12 -9A, SPECIAL DEVELOPMENT (SDD)
DISTRICT, VAIL TOWN CODE, AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, Article 12 -9A, Special Development (SDD) District, Vail Town Code, sets forth
the procedures for establishing special development districts; and
WHEREAS, The Vail Row Houses, have submitted an application to the Town of Vail to
establish Special Development District No. 41, The Vail Row Houses, to facilitate the redevelopment
of an existing residential development; and
WHEREAS, The Vail Row Houses, was originally developed under the jurisdiction of Eagle
County in 1963 and platted as "townhouses" and later zoned High Density Multiple Family
Residential by the Town of Vail; and
WHEREAS, the High Density Multiple Family Residential zone districtwas modified overthe
years directed at larger parcel multiple family projects rendering the Vail Row Houses
nonconforming with respect to numerous zoning standards; and
WHEREAS, the proposed SDD will create "townhouse" style zoning on the property and
allow it to be a conforming use and development; and
WHEREAS, the Planning and Environmental Commission of the Town of Vail held a public
hearing on April 13, 2009, on the application to establish Special Development District No. 41, The
Vail Row Houses, in accordance with the provisions of the Vail Town Code; and
WHEREAS, the Planning and Environmental Commission of the Town of Vail has forwarded
a recommendation of approval by a vote of 5 -0 -0 of this request to establish Special Development
District No. 41, The Vail Row Houses, to the Vail Town Council; and
WHEREAS, the Vail Town Council finds and determines that the request to establish Special
Development District No. 41, The Vail Row Houses, complies with the design criteria prescribed in
Title 12, Zoning Regulations, Vail Town Code, and that a practical solution consistent with the public
interest has been achieved.
WHEREAS, the Vail Town Council finds and determines that the request to establish Special
Development District No. 41, The Vail Row Houses, is consistent with the adopted goals, objectives
and policies outlined in the Vail comprehensive plan and compatible with the development
objectives of the town; and
WHEREAS, the Vail Town Council finds and determines that the request to establish Special
Development District No. 41, The Vail Row Houses, is compatible with and suitable to adjacent uses
and appropriate for the surrounding areas; and
WHEREAS, the Vail Town Council finds and determines that the request to establish Special
Development District No. 41, The Vail Row Houses, 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.
Ordinance No. 12, Series of 2009, first reading 1
8 -2 -1
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO, THAT:
Section 1. District Established
Special Development District No. 41, The Vail Row Houses, is established for
redevelopment on 7 parcels of land, legally described as Lots 7 though 13, a Resubdivision
of Block 5 and a part of Gore Creek Drive, Vail Village First Filing, which comprises 7 lots
and a total of 20,997 square feet (0.48 acres) in the Vail Village area of the Town of Vail plus
the 915 sq. ft. portion of Lot 13 to be dedicated to the Town of Vail for park use as a
condition of this approval. Said parcels may be referred to as "SDD No. 41 ". Special
Development District No. 41 shall be reflected as such on the Official Zoning Map of the
Town of Vail. The underlying zoning for Special Development District No. 41, The Vail Row
Houses, shall be High Density Multiple Family (HDMF) District.
Section 2. Special Development District No. 41, The Vail Row Houses, Approved
Development Plan
An approved development plan and this ordinance are the principal documents in guiding
the development, uses and activities of a special development district. The Approved
Development Plan for Special Development District No. 41, The Vail Row Houses, shall be
comprised of materials submitted in accordance with Section 12 -9A -5 of the Vail Town Code
including those plans prepared by KH Webb Architects, entitled Vail Rowhouses Site Plan
A001, revisions dated 04.28.09.
Section 3. Development Standards
In conjunction with the Approved Development Plan described in Section 2 herein, the
following development standards are hereby adopted by this ordinance. The development
standards for Special Development District No. 41, The Vail Row Houses, are described
below:
The development standards as outlined below apply to the individual lots (Lots 7 through
13) of the Vail Row Houses, as modified for this SDD:
A. Permitted, Conditional, and Accessory Uses:
The permitted, conditional, and accessory uses allowed in Special
Development District No. 41, The Vail Row Houses, shall be those uses
listed in Title 12, Chapter 6, Article H, High Density Multiple Family zone
district, Vail Town Code, as may be amended from time to time.
B. Lot Area and Site Dimensions:
The minimum size for each lot shall be as each lot exists today, as further
described on the Approved Development Plan; however, allowing for minor
changes to lot lines to correct any encroachments. The following minimum
size for Lot 13 is based upon a 915 sq.ft. land dedication to the Town of Vail.
Lot# Lot size
7 2,744
8 2,614
9 2,396
10 2,265
11 2,309
12 2,919
13 4,835
TOTALS 20,997
Ordinance No. 12, Series of 2009, first reading 2
8 .2.2
The minimum site dimensions for each lot shall be as each lot exists today
as further described on the Approved Development Plan; however, allowing
for minor changes to lot lines to correct any encroachments.
C. Setbacks:
The minimum setbacks for Special Development District No. 41, The Vail
Row Houses, shall be as indicated on the Approved Development Plan. The
minimum front and rear setback shall be 20 ft. The minimum side setback
shall be zero feet, except for Lot 13, which shall maintain a minimum setback
of 10 ft. from the new eastern property line (based on the new property line
following the 10 ft. land dedication for a total of 20' to the original lot line).
The 50 ft. steam setback from Gore Creek shall be maintained.
Balconies, decks, terraces, and other similar unroofed features may project
into the required setback areas in accordance with Section 14 -10 -4,
Architectural Projections, Decks, Balconies, Steps, Bay Windows, etc., Vail
Town Code. All existing decks and patios may remain as exists today, as
further described on the Approved Development Plan, and may be rebuilt as
necessary in their existing configuration.
D. Height:
For a sloping roof, the height of buildings shall not exceed 48 ft. However,
additional height restrictions apply to the front (southern facade) to maintain
the appearance of a 2 -3 story building along Gore Creek Drive. The eave
height is limited to 35 ft. to the initial eave of the front facade along Gore
Creek Drive, measured from finished grade. Eave height is defined as the
distance from finished grade to the top of the sheathing of the initial primary
eave of the structure.
E. Density Control:
No more than 150 sq. ft. of GRFA shall be permitted for each 100 sq. ft. of
total site area of each lot. Due to the increase in allowable GRFA, the Vail
Row Houses is not eligible for the "Additional 250" or Interior Conversions as
described in 12 -15 -5: ADDITIONAL GROSS RESIDENTIAL FLOOR AREA
(250 ORDINANCE) and 12 -15 -04 INTERIOR CONVERSIONS. Lot 13 is
further restricted to a total of 6,770 sq. ft. of GRFA.
GRFA and Density for each lot shall not exceed the following:
Lot # GRFA Density
Lot 7 4,116 2 du
Lot 8 3,921 2 du
Lot 9 3,594 1 du
Lot 10 3,397 2 du
Lot 11 3,463 2 du
Lot 12 4,378 2 du
Lot 13 1 6,770 2 du
However, any lot that is redeveloped shall be reduced in the number of units
in order to comply with on -site parking requirements.
In any case, the total number of units for Lots 7 through 13 shall not exceed
13 dwelling units. If any of the units are consolidated into fewer units on an
Ordinance No. 12, Series of 2009, first reading 3
8 -2 -3
individual lot, no amendment to this SDD shall be required. However, if any
of the units are consolidated into fewer units, the number of consolidated
units shall become the maximum allowable density for both the subject
individual lot and the entire development site.
If any lots are consolidated, GRFA for the consolidated lot shall be a total
of the allowable GRFA for each lot.
F. Site Coverage:
Site coverage shall not exceed 55% of the total site area of each lot, with
the additional restriction that above -grade site coverage shall not exceed
50% of the total site area of each lot. Above grade shall mean from grade
level or entry level and above at the south elevation of the buildings.
G. Landscaping and Site Development:
At least 20% of the total site area of each lot shall be landscaped, except for
Lots 11 and 12. Lots 11 and 12 shall have no net loss of landscape area.
The following is the existing landscape area of each lot.
Landscape Landscape
Lot # Sq. Ft. Percentage
Lot 7 857 32%
Lot 8 796 30%
Lot 9 658 28%
Lot 10 624 27%
Lot 11 428 12%
Lot 12 160 7%
Lot 13 1 2,119 44%
Because of the minimal opportunity for landscaping, when redevelopment of
a lot occurs, the parking surface of the lot shall be converted to concrete unit
pavers or other material (as approved by the Design Review Board) and a
snowmelt system shall be installed.
H. Parking and Loading:
Parking requirements shall be based on the current number of parking
spaces and dwelling units.
Lot 7 2 du 2 parking spaces
Lot 8 2 du 2 parking spaces
Lot 9 1 du 2 parking spaces
Lot 10 2 du 2 parking spaces
Lot 11 2 du 2 parking spaces
Lot 12 2 du 2 parking spaces
Lot 13 2 du 1 4 parking spaces
If any dwelling units are eliminated, there shall be no fewer than 2 parking
spaces for each lot. Due to site constraints, there is no requirement for
enclosed or screened parking. The parking is permitted to be located within
the front setback, and partially within the Town of Vail right -of -way as it exists
currently. A revocable right -of -way permit shall be obtained for
improvements within the right -of -way.
Ordinance No. 12, Series of 2009, first reading 4
8 -2 -4
When a unit is redeveloped or the addition of GRFA occurs, the parking
requirements as provided in Section 12- 10 -10A of the Town Code for the
subject lot shall be satisfied onsite (with right -of -way encroachments as
currently exist).
I. Employee Housing:
Employee Housing shall be provided in accordance with Chapter 24:
Inclusionary Zoning. Due to site constraints, the inclusionary zoning
requirement shall be met through the fee -in -lieu or the provision of off -site
employee housing unit(s). The Vail Row Houses shall provide an additional
5% of mitigated floor area or equivalent pay in -lieu amount over the
requirements of Chapter 24, Inclusionary Zoning, as may be adjusted from
time to time.
J. Expiration and Amendment:
This SDD is established to set zoning standards forthe future redevelopment
of individual dwelling units within the SDD. Therefore, the SDD does not
expire and will continue to provide the zoning standards into the future.
Nothing herein prevents an amendment to the SDD by any owner within the
SDD. If an amendment only affects the applicant's property, no written
consent is required from other owners within the SDD.
Section 4. Conditions of Approval
The following conditions of approval shall become part of the Town's approval of the
establishment of Special Development District No. 41, The Vail Row Houses:
1. Prior to the addition of GRFA to any dwelling unit within The Vail Row House
SDD, the owner of Lot 13 shall dedicate the 915 sq. ft. (10 -foot wide) strip of
land as indicated on the Approved Development Plan located on the east side
of Lot 13 to the Town of Vail. This dedication shall be processed as part of a
subdivision application for Lot 13. The 915 sq. ft. dedication shall be restricted
to passive park use.
2. The applicant agrees that The Vail Row Houses shall provide $70,000 to the
Town of Vail to be used for public art or Roger Staub park improvements, at the
Town's discretion. The funds will be provided by individual property owners
prior to receiving a building permit for redevelopment of and the addition of
GRFA to individual properties at a rate of $10,000 per lot."
Section 5. If any part, section, subsection, sentence, clause or phrase of this ordinance
is for any reason held to be invalid, such decision shall not effect the validity of the remaining
portions of this ordinance; and the Vail Town Council hereby declares it would have passed
this ordinance, and each part, section, subsection, sentence, clause or phrase thereof,
regardless of the fact that any one or more parts, sections, subsections, sentences, clauses
or phrases be declared invalid.
Section 6. The Vail Town Council hereby finds, determines and declares that this
ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and
the inhabitants thereof. The Council's finding, determination and declaration is based upon
the review of the criteria prescribed by the Town Code of Vail and the evidence and
testimony presented in consideration of this ordinance.
Ordinance No. 12, Series of 2009, first reading 5
8 -2 -5
Section 7. The amendment of any provision of the Town Code of Vail as provided in this
ordinance shall not affect any right which has accrued, any duty imposed, any violation that
occurred prior to the effective date hereof, any prosecution commenced, nor any other
action or proceeding as commenced under or by virtue of the provision amended. The
amendment of any provision hereby shall not revive any provision or any ordinance
previously repealed or superseded unless expressly stated herein.
Section 8. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent
herewith are repealed to the extent only of such inconsistency. This repealer shall not be
construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore
repealed.
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED
PUBLISHED ONCE IN FULL ON FIRST READING this 5 th day of May, 2009 and a public
hearing for second reading of this Ordinance set for the 19 day of May, 2009, at 6:00 p.m.
in the Council Chambers of the Vail Municipal Building, Vail, Colorado.
Richard D. Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
Ordinance No. 12, Series of 2009, first reading 6
8 -2 -6
� I lk
Mauriello Planning Group
May 19, 2009
Town Council
Town of Vail
75 South Frontage Road
Vail, Colorado 81657
Re: Revised Vail Row Houses SDD Proposal
Dear Council Members:
At the hearing on the Vail Row Houses Special Development District held on May 5, 2009 the
Town Council tabled the first reading of the ordinance in order to allow the applicant to address
the concerns expressed about the application. This letter summarizes our modifications to the
application to address the concerns expressed by Town Council. We believe that the changes
detailed below strengthen the application and provide significant benefits to the Town as well
as addressing the nonconformities created by changes that have occurred over time to the
zoning regulations. We believe the revised proposal creates a development scenario as
originally envisioned for the property and as supported by the Vail Village Master Plan.
Modifications:
A. Setback on Lot 13. The current zoning on the property requires a side setback of 20'.
As developed there are currently zero side setbacks on the west side and between each
of the units, as one would expect with a townhouse development. Our previous
proposal dedicated a 10' wide strip of land to the Town to be added to the adjacent
Roger Staub Park and then allowed a 2' setback from the new property line. The effect
was a 12' setback to the current park. There were concerns expressed at the hearing
with regard to this setback and the impact decreasing the setback would have on
existing trees on the west side of the property.
To address the setback and impacts to the trees, the application has been revised to
require the full 20' setback (no longer a deviation) from the current property line.
Additionally, the applicant is still proposing to dedicate a 10' strip of land to the Town to
add to the park area.
B. Density. All but one of the lots currently contain two dwelling units. The effect of
having two dwelling units on a lot is the requirement for parking is a minimum of three
P •:
Office 970 970 . 0377 ..
parking spaces. Only two lots currently meet this parking requirement. Concern was
raised about allowing this density and nonconforming parking to continue forever.
To address this density and parking issue, the application has been modified to require
that with the redevelopment on any lot and the addition of GRFA, the density of the
property shall be reduced to meet the parking requirements of the uses on the
property. In most cases this will be a reduction from two dwelling units per lot to one
unit with the requirement for 2 parking spaces, per code.
C. Parking. As mentioned in B above, all properties are required to meet the number of
parking spaces required for the uses located on the property. The option for pay -in -lieu
or the deeding of a space in the Founders Garage has been removed from the
application. Therefore, no deviation to parking requirements is required for the
application.
D. Building Height. The current building height allowed in this zone district is 48'. The Vail
Village Master Plan recommends 3 to 4 stories in this zone district. The previous
proposal maintained the 48' height limit but proposed an initial eave height along Gore
Creek Drive of 45'.
To address the concern about the visual impact of building height along Gore Creek
Drive, the application has been revised to limit the initial eave height to 35' to maintain
a 3 -story fagade along Gore Creek Drive. This reduces allowed building height along
Gore Creek Drive by 13' beyond what is permissible today and will create an appropriate
scale along the south elevation of the site.
E. Public Art/ Park Improvements. At the hearing there was discussion regarding the
public benefits of the project and it was suggested that a $70,000 contribution towards
public art or Roger Staub park improvements might be appropriate.
The application has been revised to include a $70,000 contribution to the Town for
public art or park improvements, at the discretion of the Town. Each lot will be
responsible for a $10,000 contribution upon receiving a building permit for
redevelopment.
The proposal still includes a 50% increase in the required employee housing requirements
under inclusionary zoning, the 915 sq. ft. land dedication to the Town, the reduction in
allowable site coverage (reduced bulk and mass), and the requirement to upgrade parking
areas to pavers.
Based on the changes made to the application, the only deviations being sought are allowing
what exists today on the property (zero internal setbacks between units, landscape area,
P.O. •:
Office 970.748.0920 ..
minimum lot size, and density) and an increase in GRFA consistent with the original zoning on
the property (i.e., 1.5 FAR). We believe the benefits of the project outweigh and reduce the
impacts to the community. We hope that you agree and can grant approval to this proposed
SDD.
Sincerely,
�
Dominic F. Mauriello, AICP
Principal
• • CO
Office 970 ..
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VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Ordinance No. 15, Series of 2009 an Ordinance Defining Electronic Personal
Assistive Mobility Device ( "EPAMD "); Establishing Regulations Regarding the Operation of
Such Devices in the Town of Vail; and Setting Forth Details in Regard Thereto.
PRESENTER(S): Matt Mire
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny
Ordinance No. 15, Series of 2008, on first reading.
BACKGROUND: See Staff Memorandum.
STAFF RECOMMENDATION: Approve, approve with modifications, or deny Ordinance No.
15, Series of 2008, on first reading.
ATTACHMENTS:
Electronic Personal Assistive Mobility Devices on Vail Recreation Paths Memorandum
Ordinance No. 15, Series of 2009
MEMORANDUM
TO: Vail Town Council
FROM: Town Staff
DATE: June 2, 2009
SUBJECT: Ordinance amendment allowing Electronic Personal Assistive Mobility
Devices on Vail Recreation Paths
Background
It has been requested that the Town of Vail amend TITLE 7, MOTOR VEHICLES AND TRAFFIC, VAIL
TOWN CODE to allow the use of Electronic Personal Assistive Mobility Devices (EPAMDs) on the town's
recreation paths. The current ordinance prohibits motorized vehicles. During the May 19, 2009 Town
Council meeting, staff was directed to prepare an amended ordinance.
An ordinance is attached. Several issues have been raised and are outlined below.
Private, State, and Federal Property
Vail's recreation path system consists of detached recreation trails, attached bicycle lanes and residential
streets. Various sections of the system fall on town -owned property, private property, and Colorado
Department of Transportation /Federal Highway Administration (CDOT /FHWA) property.
Staff recommends that the proposed ordinance should address only portions of the system that fall on
town -owned property and right -of -way. The attached map outlines portions of the path system that fall on
private or CDOT /FHWA property.
Town -owned Property
Residential streets throughout Vail, pedestrian areas of Vail Village, some pedestrian areas within
Lionshead and the majority of the Gore Valley Trail east of Golden Peak as well as parks and
open space areas. Bighorn Road east of the East Vail Exit is town -owned right -of -way.
Private Property
The Gore Valley Trail through the Cascade Village area; through the Lionshead, Vista Bahn and
Golden Peak base areas; and the Front Door and Arabelle are the most notable sections of path
through private property. Some of the easement agreements allowing the recreation path route
through private property specifically prohibit "motorized vehicles of all types."
CDOT /FHWA
The Gore Valley Trail west of Donovan Park through Dowd Junction, the North Recreation Path
from West Vail to Main Vail and several short sections of the paths east of Vail Village fall within
1 -70 right -of -way. It is possible that due to the new state law prohibiting the use of EPAMDs on
recreation paths, that CDOT and the FHWA could prohibit their use within 1 -70 right -of -way.
The new state law does prohibit their use on all portions of the State Highway system which
would include the Vail Frontage Roads west of the East Vail exit.
The Dowd Junction section of the Gore Valley Trail falls outside of Town of Vail boundaries in
unincorporated Eagle County and in CDOT /FHWA Right of Way.
9 -1 -1
Recommended Prohibited Areas
Due to various potential conflicts, safety issues and maintenance concerns, staff recommends that the
use of EPAMD's should be specifically prohibited in the following town -owned areas:
1. Ford Park
2. Vail Nature Center
3. Betty Ford Alpine Garden
4. Village Streamwalk (currently pedestrian only)
5. Covered Bridge
6. All children's playgrounds
7. All turf areas
8. All natural /unimproved areas
Other Prohibitions
Staff recommends operating EPAMD's should be prohibited within certain special events and large
gatherings such as the 4 th of July Parade route, Teva Games, Oktoberfest and other such events as
determined.
Other Policy Concerns
• Vail adopted the Regional Trails Plan in 2001. The plan references a "non- motorized trail system ".
However, there is no agreement between the town and ECO Trails that specifically excludes the use
of motorized vehicles.
• Staff will plan to monitor the use of EPAMDs throughout the summer in order to address any conflicts
and concerns that may arise.
Staff Recommendations
Discuss and finalize the list of prohibited areas and other prohibitions.
9 -1.21
ORDINANCE NO. 15
SERIES OF 2009
AN ORDINANCE DEFINING ELECTRONIC PERSONAL ASSISTIVE MOBILITY
DEVICE ( "EPAMD "); ESTABLISHING REGULATIONS REGARDING THE
OPERATION OF SUCH DEVICES IN THE TOWN OF VAIL; AND SETTING FORTH
DETAILS IN REGARD THERETO.
WHEREAS, the Town of Vail, in the County of Eagle and State of Colorado (the
"Town "), is a home rule municipal corporation duly organized and existing under laws of
the State of Colorado and the Town Charter (the "Charter "); and
WHEREAS, the members of the Town Council of the Town (the "Council ") have
been duly elected and qualified; and
WHEREAS, the Town promotes alternative transportation modes that are
environmentally friendly and that reduce society's dependence on fossil fuels; and
WHEREAS, by the provisions of this Ordinance, the Town desires to: (a) define
Electric Personal Assisted Mobility Device; Declare such vehicles as exempt from motor
vehicle traffic laws except as provided in the Ordinance; implement regulations for the
operation of EPAMDs in the Town of Vail; and
WHEREAS, the Town Council finds and determines that the public health, safety,
and welfare will be served by the adoption of this Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO, THAT:
Section 1. DEFINITIONS
Electronic Personal Assistive Mobility Device (EPAMD) means a self - balancing,
nontandem two - wheeled device, designed to transport only one person, which is
powered solely by an electronic propulsion system producing an average power output
of no more than seven hundred fifty watts.
Section 2. OPERATION OF EPAMDs AUTHORIZED
Except as provided by this Ordinance, the operation of EPAMDs in the Town shall be
exempt from the Model Traffic Code, as adopted by the Town of Vail, and such other
Town ordinances that regulate motorized vehicles in Town.
Section 3. EPAMD OPERATION, PARKING AND EQUIPMENT REGULATIONS
For the purposes of operation, parking, and equipment and subject to the additional
regulations set forth in this Ordinance, EPAMDs shall be considered bicycles and shall
be subject to the provisions and regulations concerning bicycles contained in the Model
Traffic Code, as adopted by the Town of Vail.
Ordinance No. 15, Series of 2009
9 -'- -1
Section 4. RESTRICTIONS ON THE OPERATION OF EPAMDs
A. It shall be unlawful for any person to operate EPAMDs in the following public areas:
(1) Ford Park
(2) Vail Nature Center
(3) Betty Ford Alpine Garden
(4) Village Streamwalk (currently pedestrian only)
(5) Covered Bridge
(6) All children's playgrounds
(7) All turf areas
(8) All natural /unimproved areas
[NOTE: These areas should be further defined and described by exhibit for 2nd
reading after Town Council discussion on June 2nd]
B. The Rider of an EPAMD shall have all the same rights and duties as an operator of
any other vehicle pursuant to C.R.S. Article 4, Title 42, except as to those provisions that
by their nature have no application and have not otherwise been lawfully amended by
this Ordinance.
Section 5. FURTHER RESTRICITONS ON EMPADs
It shall unlawful to operate EPAMD's on streets and highways that are parts of the state
highway system.
Section 6. MINIMUM AGE FOR OPERATION OF EPAMDs
Operation of EPAMDs shall be limited to persons sixteen (16) years of age or older.
Section 7. VIOLATIONS
Violations of this Ordinance shall be punishable in accordance with the Section 1 -4 -1 of
this Code.
Section 8. SUNSET PROVISION AND ORDINANCE EXPIRATION
This Ordinance, and the rights granted by this Ordinance, shall expire on September 30,
2009.
Section 9. If any part, section, subsection, sentence, clause or phrase of this
ordinance is for any reason held to be invalid, such decision shall not effect the validity
of the remaining portions of this ordinance; and the Town Council hereby declares it
would have passed this ordinance, and each part, section, subsection, sentence, clause
or phrase thereof, regardless of the fact that any one or more parts, sections,
subsections, sentences, clauses or phrases be declared invalid.
Ordinance No. 15, Series of 2009
9-2 -2
Section 10. The amendment of any provision of the Town Code as provided in this
ordinance shall not affect any right which has accrued, any duty imposed, any violation
that occurred prior to the effective date hereof, any prosecution commenced, nor any
other action or proceeding as commenced under or by virtue of the provision amended.
The amendment of any provision hereby shall not revive any provision or any ordinance
previously repealed or superseded unless expressly stated herein.
Section 11. All bylaws, orders, resolutions and ordinances, or parts thereof,
inconsistent herewith are repealed to the extent only of such inconsistency. This
repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or
part thereof, theretofore repealed.
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED
PUBLISHED ONCE IN FULL ON FIRST READING this 2n day of June, 2009, and a
public hearing for second reading of this Ordinance set for the 16 day of June, 2009, at
6:00 P.M. in the Council Chambers of the Vail Municipal Building, Vail, Colorado.
Dick Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
Ordinance No. 15, Series of 2009
9 -2 -3
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Second reading of Ordinance No. 7, Series 2009, an ordinance repealing and
re- enacting Ordinance No. 5, Series of 2006, and amending Special Development District No.
39, Crossroads, and setting forth details in regard thereto.
PRESENTER(S): Warren Campbell / Mauriello Planning Group
ACTION REQUESTED OF COUNCIL: Approve, modify, or deny Ordinance No. 7, Series of
2009, on second reading.
BACKGROUND: On March 9, 2009, the Town of Vail Planning and Environmental
Commission held a public hearing on a request for a major amendment to Special
Development District No. 39, Crossroads. The purpose of the major amendment is to increase
the maximum allowable number of dwelling units from 77 to 78 dwelling units.
Upon review of the request, the Planning and Environmental Commission voted 6 -1 -0 (Pierce
opposed) to forward a recommendation of approval of the request to the Vail Town Council.
On May 19, 2009, the Vail Town Council approved the first reading of Ordinance No. 7, Series
of 2009, by a vote of 4 -3 -0 (Cleveland, Foley, Daly opposed).
STAFF RECOMMENDATION: The Planning and Environmental Commisison recommends
that the Vail Town Council approves Ordinance No. 7, Series of 2009, on second reading.
ATTACHMENTS:
Reduced Set of Solaris Floor Plans
Town Council Memorandum
Ordinance No. 7, Series of 2009 Draft
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PROMENADE LEVEL
SCALE: 1/16" - 1' -0"
l FEBRUARY 27, 2009
MEMORANDUM
TO: Town Council
FROM: Community Development Department
DATE: June 2, 2009
SUBJECT: Second reading of Ordinance No. 7, Series of 2009, an ordinance repealing and re-
enacting Ordinance No. 5, Series of 2006, establishing Special Development District
No. 39, Crossroads, and setting forth details in regard thereto.
Applicant: Solaris Property Owner, LLC, represented by Mauriello Planning
Group, LLC
Planner: Warren Campbell
I. DESCRIPTION OF THE REQUEST
The applicant, Solaris Property Owner, LLC, represented by Mauriello Planning Group,
LLC, is requesting a second reading of Ordinance No. 7, Series of 2009, an ordinance
repealing and re- enacting Ordinance No. 5, Series of 2006, amending Special
Development District No. 39, Crossroads, to increase the permitted number of dwelling
units from 77 to 78 units.
Staff has attached a copy of the draft Ordinance No. 7, Series of 2009, which contains
no changes since first reading on May 19, 2009, (Attachment A).
II. BACKGROUND
On March 9, 2009, the Planning and Environmental Commission forwarded a
recommendation of approval on the adoption of Ordinance No. 7, Series of 2009, by a
vote of 6 -1 -0 (Pierce opposed).
On March 17, 2009, the Vail Town Council tabled the first reading of Ordinance No. 7,
Series of 2009, at the applicant's request to the April 21, 2009, public hearing.
On April 21, 2009, the Vail Town Council tabled the first reading of Ordinance No. 7,
Series of 2009, at the applicant's request to the May 19, 2009, public hearing.
On May 19, 2009, The Town Council approved Ordinance No. 7, Series of 2009, on first
reading by a vote of 4 -3 -0 (Cleveland, Foley, Daly opposed)
III. ACTION REQUESTED OF COUNCIL
The Vail Town Council shall approve, approve with modifications, or deny the second
reading of Ordinance No. 7, Series of 2009.
1
10 -2 -1
IV. PLANNING AND ENVIRONMENTAL COMMISSION RECOMMENDATION
The Planning and Environmental Commission recommends the Town Council
approves, on second reading, Ordinance No. 7, Series of 2009, an ordinance repealing
and re- enacting Ordinance No. 5, Series of 2006, establishing Special Development
District No. 39, Crossroads, to increase the permitted number of dwelling units from 77
to 78 units, and setting forth details in regard thereto.
Should the Town Council choose to approve these amendments, the Community
Development Department recommends the Town Council pass the following motion:
"The Town Council approves, on second reading, Ordinance No. 7, Series of
2009, an ordinance repealing and re- enacting Ordinance No. 5, Series of 2006,
establishing Special Development District No. 39, Crossroads, to increase the
permitted number of dwelling units from 77 to 78 units, and setting forth details in
regard thereto. "
Should the Town Council choose to approve Ordinance No. 7, Series of 2009, on
second reading, the Community Development Department recommends the Town
Council makes the following findings:
"That the proposal to amend Special Development District No. 39, Crossroads,
complies with the nine design criteria outlined in Section 12 -9A -8 of the Vail
Town Code. Furthermore, the applicant has demonstrated to the satisfaction of
the Commission, based upon the testimony and evidence presented during the
public hearing, that any adverse effects of the requested deviations from the
development standards of the underlying zoning are outweighed by the public
benefits provided. Lastly, the Commission finds that the request is consistent
with the development goals and objectives of the Town.
That the proposed gross residential floor area of 174.4% of lot area, additional
thirty -one dwelling units over allowable (at 29.5 units per acre total) in the
Commercial Service Center zone district is in conformance with applicable
elements of the Vail Comprehensive Master Plan.
That the development is in compliance with the purposes of the Commercial
Service Center zone district, that the proposal is consistent with applicable
elements of the Vail Village Master Plan, the Vail Land Use Plan, and the Vail
Streetscape Master Plan, and that the proposal does not otherwise have a
significant negative effect on the character of the neighborhood, and that the
proposal substantially complies with other applicable elements of the Vail
Comprehensive Plan."
V. ATTACHMENTS
A. Ordinance No. 7, Series of 2009
2
10 -2 -2
ORDINANCE NO. 7
Series of 2009
AN ORDINANCE REPEALING AND RE- ENACTING ORDINANCE NO. 5, SERIES OF 2006,
ESTABLISHING SPECIAL DEVELOPMENT DISTRICT NO. 39, CROSSROADS, PURSUANT TO
ARTICLE A, SPECIAL DEVELOPMENT (SDD) DISTRICT, CHAPTER 9, TITLE 12, ZONING
TITLE, TOWN CODE OF VAIL, AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, Title 12, Zoning Title, Chapter 9, Article A, Special Development (SDD) District,
Town Code of Vail establishes a procedure for amending special development districts; and
WHEREAS, Crossroads East One, LLC and Crossroads West One, LLC, has submitted an
application to the Town of Vail Community Development Department to amend Special
Development District No. 39, Crossroads, to facilitate the redevelopment of an existing mixed use
development; and
WHEREAS, the Planning and Environmental Commission of the Town of Vail held a public
hearing on March 9, 2009, on the application to amend Special Development District No. 39,
Crossroads, in accordance with the provisions of the Town Code of Vail; and
WHEREAS, upon due consideration, the Planning and Environmental Commission of the
Town of Vail found that the request complies with the design criteria prescribed in the Title 12,
Zoning Regulations, Vail Town Code, and furthers the development objectives of the Town of Vail;
and
WHEREAS, the Planning and Environmental Commission of the Town of Vail has forwarded
a recommendation of approval with conditions, by a vote of 6 -1 -0 of this request for a major
amendment to increase the maximum number of dwelling units from 77 to 78 for Special
Development District No. 39, Crossroads, to the Vail Town Council; and
WHEREAS, the Vail Town Council finds that the request to amend Special Development
District No. 39, Crossroads, complies with the design criteria prescribed in the Title 12, Zoning Title,
Town Code of Vail; and provides a harmonious, convenient, workable relationship among land uses
consistent with municipal development objectives; and
WHEREAS, the Vail Town Council considers it in the interest of the public health, safety, and
welfare to adopt Ordinance No. 7, Series of 2009, which repeals and re- enacts Ordinance No. 5,
Series of 2006, which established Special Development District No. 39, Crossroads, in the Town of
Vail.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO, THAT:
Section 1. District Established
Special Development District No. 39, Crossroads, is established for development on two
parcels of land, legally described as Lot P and A Part of Tract C, Block 5D, Vail Village Filing
1, which comprise a total of 115,129 square feet (2.643 acres) in the Vail Village area of the
Town of Vail. Said parcels may be referred to as "SDD No. 39 ". Special Development
Ordinance No. 7, Series 2009
10 -3 -1
District No. 39 shall be reflected as such on the Official Zoning Map of the Town of Vail. The
underlying zoning for Special Development District No. 39, Crossroads, shall be Commercial
Service Center (CSC) District.
Section 2. Special Development District No. 39, Crossroads, Approved
Development Plan
An approved development plan is the principal document in guiding the development, uses
and activities of a special development district. The Vail Town Council finds that the
Approved Development Plan for Special Development District No. 39, Crossroads, complies
with each of the requirements set forth in Sections 12 -9A -5 and 12 -9A -6 of the Town Code
of Vail. The Approved Development Plan for Special Development District No. 39,
Crossroads, shall be comprised of materials submitted in accordance with Section 12 -9A -5
of the Town Code of Vail and those plans prepared by Barnes Coy Architects and Davis
Partnership Architects, entitled " Solaris ", dated January 15, 2007, and stamped approved
April 3, 2007 and amended pages dated February 27, 2009, and stamped approved June 2,
2009.
Section 3. Development Standards
In conjunction with the Approved Development Plan described in Section 2 herein, the
following development standards are hereby approved by the Vail Town Council. These
standards are incorporated in the Approved Development Plan to protect the integrity of the
development of Special Development District No. 39, Crossroads. The development
standards for Special Development District No. 39, Crossroads, are described below:
1. A. Permitted, Conditional, and Accessory Uses: The permitted, conditional,
and accessory uses allowed in Special Development District No. 39,
Crossroads, shall be those uses listed in Title 12, Chapter 7, Article E,
Commercial Service Center zone district, Town Code of Vail, as may be
amended from time to time. The approval of SDD No. 39 shall restrict the
uses upon the plaza level tenant spaces to "retail /restaurant' uses solely and
shall not be utilized for "professional offices, business offices, and studios"
uses, as defined in Title 12. A professional office intended for real estate
sales may be allowed on the plaza level of the building for a period of two
years following the date of the issuance of a temporary certificate of
occupancy or a final certificate of occupancy to allow for the sales of the on-
site dwelling units and leasing of commercial spaces. No space noted as
retail /restaurant space on the Approved Development Plan shall be
converted to a dwelling unit.
B. Lot Area: The minimum lot area for Special Development District No. 39,
Crossroads, shall be 115,129 square feet (2.643 acres).
C. Setbacks: The minimum setbacks for Special Development District No. 39,
Crossroads, shall be as indicated on the Crossroads Approved Development
Plan, described in Section 2 herein.
D. Height: The maximum allowable building height for Special Development
District No. 39, Crossroads shall be ninety -nine and nine tenths feet (99.9'),
and as indicated on the Crossroads Approved Development Plan, described
in Section 2 herein.
Ordinance No. 7, Series 2009 2
10 -3 -2
E. Density Control: The maximum allowable Gross Residential Floor Area
(GRFA) for Special Development District No. 39, Crossroads, shall be
200,858 square feet and the maximum allowable density shall be seventy -
eight (78) dwelling units, and five (5) attached accommodation units, as
indicated on the Crossroads Approved Development Plan, described in
Section 2 herein.
F. Site Coverage: The maximum allowable site coverage shall be ninety -three
and six tenths percent (93.6 %) or 107,772 square feet of the total lot area,
and as indicated on the Crossroads Approved Development Plan, described
in Section 2 herein.
G. Landscaping and Site Development: At least twenty percent (20 %) of the
total site shall be landscaped. The minimum width and length of any area
qualifying as landscaping shall be fifteen (15) feet with a minimum area of
not less than three hundred (300) square feet. The landscaping and site
development shall be as indicated on the Crossroads Approved
Development Plan, described in Section 2 herein.
H. Parking and Loading: Off street parking and loading shall be provided in
accordance with title 12 -10 of the Vail Town Code. At least one -half (1/2) of
the required parking shall be located within the main building or buildings.
The minimum number of loading and delivery bays shall be five (5), as
indicated on the Crossroads Approved Development Plan, described in
Section 2 herein.
Section 4. Conditions of Approval
The following conditions of approval shall become part of the Town's approval of the
establishment of Special Development District No. 39, Crossroads:
The Developer shall address the following conditions of approval prior to appearing before
the Vail Town Council for second reading of an adopting ordinance for the establishment of
Special Development District No. 39, Crossroads:
1. The Developer shall prepare an amended written agreement, for Town Council
review and approval, outlining the responsibilities and requirements of the required
offsite improvements, as indicated on the proposed Approved Development Plan.
This agreement shall include, but not be limited to, all streetscape improvements
along Village Center Road and East Meadow Drive, public access to the plaza for
pedestrians and Town sponsored events, which may include the establishment of an
easement on the plaza and language in the covenants and declarations for owners
of property in the project regarding the use of the plaza for special events, inclusion
of the loading and delivery facility in the overall loading and delivery system, payment
of traffic impact fees and credits given to offset fee, and details for funding public art.
The Developer shall address the following conditions of approval prior to submitting a
building permit application (a grading permit /excavation permit shall constitute a building
permit);
Ordinance No. 7, Series 2009 3
10 -3 -3
1. The Developer shall submit a final exterior building materials list, typical wall section,
architectural specifications, and a complete color rendering for review and approval
of the Design Review Board, prior to submittal of an application for a building permit.
2. The Developer shall submit a rooftop mechanical equipment plan for review and
approval by the Design Review Board prior to the submittal of a building permit
application. All rooftop mechanical equipment shall be incorporated into the overall
design of the structure and enclosed and visually screened from public view.
3. The Developer shall receive all the required permits from the Colorado Department
of Transportation (CDOT) prior to submitting for a building permit. Failure to receive
the appropriate permits to access the South Frontage Road per the Approved
Development Plan will require the project to return through the special development
district review process.
4. The Developer shall comply with the written final comments of the Town of Vail
Public Works Department outlined in the memorandum from the Town of Vail Public
Works Department, dated January 16, 2006, prior to submitting an application to the
Town of Vail Community Department for the issuance of a building permit for this
project.
5. The Developer shall submit a written letter agreeing to install a public safety radio
communications system within the subterranean parking structure which meets the
specifications of the Town of Vail Communications Center. The specifications and
details of this system shall be submitted to staff for review and approval with the
application for a building permit.
6. The Developer shall submit a fire and life safety plan for review and approval by the
Town of Vail Fire Department in conjunction with the building permit submittal.
The Developer shall address the following conditions of approval prior to release of a full
building permit, requesting a temporary certificate of occupancy, or a final certificate of
occupancy;
1. The Developer shall submit a comprehensive sign program for review and approval
by the Design Review Board, prior to requesting a temporary certificate of
occupancy, or a final certificate of occupancy.
2. The Developer shall be assessed a traffic impact fee of $6,500 per net trip increase
in p.m. traffic. The traffic and trip generation report prepared by Fox Higgins
Transportation Group dated June 2007, that specifically addresses the change in
number of condominium units from 75 to 77, states that the net peak increase is 81
trips, 13 more trips than in the original approved traffic study dated November 2005.
Since the usage of the commercial space is still in flux the Public Works Department
will require that a new study be performed prior to the issuance of a full building
permit to address the traffic generation created by the specific tenants that will lease
the commercial /retail space within the project. This change may cause the trip
generation to increase. The applicant shall be responsible for mitigating the number
of net peak trip increases depicted in the revised study. This impact fee shall not be
offset by any public improvements and shall be paid prior to requesting a temporary
Ordinance No. 7, Series 2009 4
10 -3 -4
certificate of occupancy or certificate of occupancy.
3. The Developer shall post a bond to provide financial security for 125% of the total
cost of the required off -site public improvements. The bond shall be in place with the
Town prior to the issuance of a temporary certificate of occupancy. This includes but
is not limited to the proposed streetscape improvements.
4. The Developer shall commence initial construction of the Crossroads improvements
within three years from the time of its final approval at second reading of the
ordinance establishing Special Development District No. 39, and continue diligently
toward the completion of the project. If the developer does not begin and diligently
work toward the completion of the special development district or any stage of the
special development district within the time limits imposed, the approval of said
special development district shall be void. The Planning and Environmental
Commission and Town Council shall review the special development district upon
submittal of an application to reestablish the special development district following
the procedures outlined in Section 12 -9A -4, Vail Town Code.
5. Employee Housing: Crossroads shall furnish deed restricted employee housing
sufficient to accommodate 22 occupants by executing appropriate restrictive
covenant(s) on form(s) provided by the Town. Any dwelling unit(s) restricted shall
conform to the following floor area requirements: a one - bedroom unit shall contain at
least 550 sq. ft. of floor area and accommodate no more than 2 occupants; a two -
bedroom unit shall contain at least 850 sq. ft. of floor area and accommodate no
more than 3 occupants; a three - bedroom unit shall contain at least 1,350 sq. ft. of
floor area and accommodate no more than 4 occupants; and a four - bedroom unit
shall contain at least 1,500 sq. ft. of floor area and accommodate no more that 5
occupants. The Town may approve minor variations in floor area when the overall
intent of the floor area requirements is being met. Any deed restriction shall be for
property located within the Town. Such deed restriction(s) shall be executed and
provided to the Town for recording and restricted unit(s) shall be available for
occupancy prior to the issuance of a temporary certificate of occupancy for the
Crossroads Project or any phase thereof. Any deed restricted employee housing
unit shall comply with the standards and procedures established by the Town Zoning
Regulations.
6. The approval of SDD No. 39, Crossroads, shall restrict the uses upon the plaza level
tenant spaces to retail uses solely and shall not be utilized for professional offices,
business offices, and studios. The second floor retail space may be utilized for any
allowable or conditional use as listed in the Commercial Service Center Zone
District. No space noted as retail space on the Approved Development Plan shall be
converted to a residential dwelling unit. Temporary real estate sales offices may be
allowed on the plaza level of retail during the first two years following the issuance of
a certificate of occupancy in order to allow effective sales of dwelling units on -site.
Section 5. If any part, section, subsection, sentence, clause or phrase of this ordinance
is for any reason held to be invalid, such decision shall not effect the validity of the remaining
portions of this ordinance; and the Vail Town Council hereby declares it would have passed
this ordinance, and each part, section, subsection, sentence, clause or phrase thereof,
regardless of the fact that any one or more parts, sections, subsections, sentences, clauses
Ordinance No. 7, Series 2009 c
10 -3 -5
or phrases be declared invalid.
Section 6. The Vail Town Council hereby finds, determines and declares that this
ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and
the inhabitants thereof. The Council's finding, determination and declaration is based upon
the review of the criteria prescribed by the Town Code of Vail and the evidence and
testimony presented in consideration of this ordinance.
Section 7. The amendment of any provision of the Town Code of Vail as provided in this
ordinance shall not affect any right which has accrued, any duty imposed, any violation that
occurred prior to the effective date hereof, any prosecution commenced, nor any other
action or proceeding as commenced under or by virtue of the provision amended. The
amendment of any provision hereby shall not revive any provision or any ordinance
previously repealed or superseded unless expressly stated herein.
Section 8. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent
herewith are repealed to the extent only of such inconsistency. This repealer shall not be
construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore
repealed.
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED
PUBLISHED ONCE IN FULL ON FIRST READING this 19 day of May, 2009, and a public
hearing for second reading of this Ordinance set for the 2 day of June 2009, at 6:00 p.m. in
the Council Chambers of the Vail Municipal Building, Vail, Colorado.
Richard D. Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 2nd
day of June, 2009.
Richard D. Cleveland, Mayor
Attest:
Lorelei Donaldson, Town Clerk
Ordinance No. 7, Series 2009 6
10 -3 -6
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Second reading of Ordinance No. 13, Series of 2009, an ordinance amending
the approved development plan for Phase IV of Special Development District No. 6, Vail
Village Inn, pursuant to Article 12- 9A -10, Amendment Procedures, Vail Town Code, to allow
for the conversion of two existing fractional fee club units to dwelling units, located at 16 Vail
Road (Vail Plaza Hotel) / a portion of Lots M, N, and O, Block 5D, Vail Village Filing 1, and
setting forth details in regard thereto.
PRESENTER(S): Bill Gibson
ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny
Ordinance No. 13, Series of 2009, on second reading.
BACKGROUND: On May 19, 2009, the Town Council approved the first reading of Ordinance
No. 13, Series of 2009, with modification by a vote of 4 -3 -0 (Cleveland, Foley, and Newbury
opposed).
STAFF RECOMMENDATION: The Planning and Environmental Commission recommends
the Town Council approves Ordinance No. 13, Series of 2009, on second reading.
ATTACHMENTS:
Town Council memo
Ordinance No. 13, Series of 2009
MEMORANDUM
TO: Vail Town Council
FROM: Community Development Department
DATE: June 2, 2009
SUBJECT: Second reading of Ordinance No. 13, Series of 2009, an ordinance temporarily
amending the approved development plan for Phase IV of Special Development
District No. 6, Vail Village Inn, pursuant to Article 12- 9A -10, Amendment
Procedures, Vail Town Code, to allow for the conversion of two existing fractional
fee club units to dwelling units, located at 16 Vail Road (Vail Plaza Hotel) / a
portion of Lots M, N, and O, Block 5D, Vail Village Filing 1, and setting forth
details in regard thereto. (PEC090011)
Applicant: Vail Plaza Development, LLC
Planner: Bill Gibson
I. DESCRIPTION OF THE REQUEST
The applicant, Vail Plaza Development, LLC, is requesting a second reading of
Ordinance No. 13, Series of 2009, an ordinance amending the approved development
plan for Phase IV of Special Development District No. 6, Vail Village Inn, pursuant to
Article 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the conversion
of two existing fractional fee club units to dwelling units, located at 16 Vail Road (Vail
Plaza Hotel) / a portion of Lots M, N, and O, Block 5D, Vail Village Filing 1, and setting
forth details in regard thereto. The applicant is proposing to increase the number of
dwelling units from one to three in the Vail Plaza Hotel by converting the existing
fractional fee club units #313 and #401 into dwelling units.
II. BACKGROUND
The Planning and Environmental Commission held public hearings to discuss this
request on April 27, and May 11, 2009. On May 11, 2009, the Planning and
Environmental Commission voted 7 -0 -0 to forward a recommendation of approval, with
conditions, to the Town Council for the proposed special development district
amendment based upon the findings noted below in Section III of this memorandum and
the additional finding:
"That the temporary approval of this amendment will have no negative effect on
parking since the existing penthouse dwelling unit can not yet be occupied. "
On May 19, 2009, the Town Council held a public hearing to discuss the applicant's
request. The applicant's formal written request was to convert two existing fractional fee
club units into dwelling units in exchange for the conversion of the one penthouse
dwelling unit into a fractional fee club unit. However, the Planning and Environmental
Commission recognized, and fully accepted, that construction of the penthouse is not
complete, there has been no certificate of occupancy issued for the penthouse unit, and
that the applicant by his own testimony has no intension of completing construction of
the penthouse unit or of marketing that unit as anything other than a dwelling unit.
Therefore, while on paper the applicant was proposing the conversion of the penthouse
1
11 -1 -1
unit to a fractional fee club unit in exchange for the two new dwelling units; in practice
the penthouse unit will never actually function as a fractional fee club unit.
At its May 19, 2009, hearing the Town Council approved the first reading of Ordinance
No. 13, Series of 2009, with the modifications that reference to the conversion of the
penthouse dwelling unit to a fractional fee club unit be stricken, and that the sale of the
penthouse unit be a trigger for the expiration of this ordinance in addition to the
Commission's recommended triggers of the specific date May 11, 2012, or the issuance
of an occupancy certificate for the penthouse unit.
The condominium plat for the Vail Plaza Hotel identifies the unit type designations
(commercial unit, club unit, hotel unit, spa unit, etc.) within building. Since the Town
Council has chosen to temporarily approve the applicant's request to convert to
fractional fee club units to dwelling units, Staff recommends the Council formalize the
applicant's requirement to update the condominium plat by including this requirement as
a condition of approval for Ordinance No. 13, Series of 2009. This proposed condition
has been integrated into the attached ordinance.
III. ACTION REQUIRED
The Town Council shall approve, approve with modification, or deny this ordinance on
second reading.
Should the Town Council choose to approve the second reading of this ordinance
consistent with the first reading, the Community Development Department recommends
the Town Council passes the following motion:
"The Town Council approves, on second reading, Ordinance No. 13, Series of
2009, an ordinance amending the approved development plan for Phase IV of
Special Development District No. 6, Vail Village Inn, pursuant to Article 12- 9A -10,
Amendment Procedures, Vail Town Code, to allow for the conversion of two
existing fractional fee club units to dwelling units, located at 16 Vail Road (Vail
Plaza Hotel) / a portion of Lots M, N, and O, Block 5D, Vail Village Filing 1, and
setting forth details in regard thereto."
Should the Town Council choose to approve the second reading of this ordinance
consistent with the first reading, the Community Development Department recommends
the Town Council imposes the following condition(s):
'I. This approval shall expire and become null and void on May 11, 2012, or
upon either the sale or issuance of a Temporary or Final Certificate of
Occupancy for Unit 507 of the Vail Plaza Hotel prior to said date.
The applicant shall restore the subject fractional fee club units (Units 313 and
401) of the Vail Plaza Hotel temporarily converted to dwelling units back to
fractional fee club units by no later than May 11, 2012, or within 7 calendar days
of either the sale or issuance of a Temporary or Final Certificate of Occupancy
for Unit 507 of the Vail Plaza Hotel prior to said date.
2. This approval is contingent upon the applicant obtaining Town of Vail
administrative approval, and causing to be recorded, an amended condominium
2
11 - 1 -2
plat reflecting the change in designation of Units 313 and 401 from "club units" to
"dwelling units" Upon either the sale of Unit 507 of the Vail Plaza Hotel, the
issuance of a Temporary or Final Certificate of Occupancy for Unit 507, or prior
to May 11, 2012, the applicant shall restore the condominium plat designation of
both Units 313 and 401 of the Vail Plaza Hotel to "club unit"
Should the Town Council choose to approve the second reading of this ordinance
consistent with the first reading, the Community Development Department recommends
the Town Council makes the following findings:
"Based upon the review of the criteria outlined in Section IX this Staff
memorandum to the Planning and Environmental Commission dated April 27,
2009, and the evidence and testimony presented, the Town Council finds:
1. That the special development district amendment does comply with the
standards listed Article 12 -9A, Special Development District, or that a practical
solution consistent with the public interest has been achieved.
2. That the special development district amendment is consistent with the
adopted goals, objectives and policies outlined in the Vail comprehensive plan
and compatible with the development objectives of the town; and
3. That the special development district amendment is compatible with and
suitable to adjacent uses and appropriate for the surrounding areas; and
4. That the special development district amendment does promote 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.
5. That the temporary approval of this amendment will have no negative effect on
parking since the existing penthouse dwelling unit can not yet be occupied. "
IV. ATTACHMENTS
A. Ordinance No. 13, Series of 2009
3
ORDINANCE NO. 13
Series of 2009
AN ORDINANCE TEMPORARILY AMENDING THE APPROVED DEVELOPMENT PLAN FOR
PHASE IV OF SPECIAL DEVELOPMENT DISTRICT NO. 6, VAIL VILLAGE INN, PURSUANT TO
ARTICLE 12- 9A -10, AMENDMENT PROCEDURES, VAIL TOWN CODE, TO ALLOW FOR THE
CONVERSION OF TWO EXISTING FRACTIONAL FEE CLUB UNITS TO DWELLING UNITS,
LOCATED AT 16 VAIL ROAD (VAIL PLAZA HOTEL) / A PORTION OF LOTS M, N, AND O,
BLOCK 5D, VAIL VILLAGE FILING 1, AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, Ordinance No. 16, Series of 2004, established the approved development plan
for Phase IV (Vail Plaza Hotel) of Special Development District No. 6, Vail Village Inn; and
WHEREAS, amendments to a Special Development District are permitted pursuant to the
parameters set forth for such in Section 12- 9A -10, Vail Town Code; and
WHEREAS, the Planning and Environmental Commission of the Town of Vail held public
hearings on April 20, 2009, and May 11, 2009, to consider the proposed amendment in accordance
with the provisions of the Vail Town Code and forwarded a recommendation of approval, with
conditions, to the Vail Town Council by a vote of 7 -0 -0; and
WHEREAS, the Vail Town Council finds that the proposed amendment to Special
Development District No. 6, complies with the review criteria outlined in Section 12 -9A -8, Vail Town
Code, and that the applicant has demonstrated that any adverse effects of the requested deviations
from the development standards of the underlying zoning are outweighed by the public benefits
provided; and
WHERAS, the Town Council finds that the special development district amendment does
comply with the standards listed Article 12 -9A, Special Development District, or that a practical
solution consistent with the public interest has been achieved; and
WHEREAS, the Vail Town Council finds that the special development district amendment is
consistent with the adopted goals, objectives and policies outlined in the Vail comprehensive plan
and compatible with the development objectives of the town; and
WHEREAS, the Vail Town Council finds that the special development district amendment is
compatible with and suitable to adjacent uses and appropriate for the surrounding areas; and
WHEREAS, the Vail Town Council finds that the special development district amendment
does promote 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; and
WHEREAS, the Vail Town Council finds that temporary approval of this amendment will
have no negative effect on parking since the existing penthouse dwelling unit can not yet be
occupied; and
Ordinance No. 13, Series of 2009 second reading
11 -2 -1
WHEREAS, the approval of this special development district amendment, and the
development standards in regard thereto, shall not establish precedence or entitlements elsewhere
within the Town of Vail.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO, THAT:
Section 1. AMENDMENTS
Section 2, Development Standards, of Ordinance No. 16, Series of 2004, is hereby amended
as follows (all additions are illustrated with bold italics, deletions are illustrated with strikethrough and
text not affected has been omitted):
Density -- Units per Acre - Dwelling Units, Accommodation Units, & Fractional Fee Club
Units
The number of units permitted in Phase IV shall not exceed the following:
Dwelling Units — 4- 3
Accommodation Units - 100
Fractional Fee Club Units — 59 48
Type III Employee Housing Units -18
(38 employee beds totaling 9,618 square feet of floor area)
Section 2. EFFECTIVE TERM
This ordinance shall expire and become null and void on May 11, 2012; or upon either the
sale or issuance of a Temporary or Final Certificate of Occupancy for Unit 507 of the Vail Plaza
Hotel prior to said date.
Section 3. CONDITION(S) OF APPROVAL
The following condition of approval shall become part of the Town's approval of this
amendment to the approved development plan for Phase IV (Vail Plaza Hotel) of Special
Development District No. 6, Vail Village Inn:
1. The applicant shall restore the subject fractional fee club units (Units 313 and 401) of the
Vail Plaza Hotel temporarily converted to dwelling units back to fractional fee club units
by no later than May 11, 2012; or within 7 calendar days of either the sale or issuance of
a Temporary or Final Certificate of Occupancy for Unit 507 of the Vail Plaza Hotel prior
to said date.
2. This approval is contingent upon the applicant obtaining Town of Vail administrative
approval, and causing to be recorded, an amended condominium plat reflecting the
change in designation of Units 313 and 401 from "club units" to "dwelling units ". Upon
either the sale of Unit 507 of the Vail Plaza Hotel, the issuance of a Temporary or Final
Certificate of Occupancy for Unit 507, or prior to May 11, 2012, the applicant shall
restore the condominium plat designation of both Units 313 and 401 of the Vail Plaza
Hotel to "club unit ".
Ordinance No. 13, Series of 2009 second reading 2
11 -2 -2
Section 4. If any part, section, subsection, sentence, clause or phrase of this ordinance is for
any reason held to be invalid, such decision shall not effect the validity of the remaining portions of
this ordinance; and the Vail Town Council hereby declares it would have passed this ordinance, and
each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any
one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid.
Section 5. The Vail Town Council hereby finds, determines and declares that this ordinance is
necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants
thereof. The Council's finding, determination and declaration is based upon the review of the criteria
prescribed by the Town Code of Vail and the evidence and testimony presented in consideration of
this ordinance.
Section 6. The amendment of any provision of the Town Code of Vail as provided in this
ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred
prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding
as commenced under or by virtue of the provision amended. The amendment of any provision
hereby shall not revive any provision or any ordinance previously repealed or superseded unless
expressly stated herein.
Section 7. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith
are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise
any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed.
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED
ONCE IN FULL ON FIRST READING this 19 day of May, 2009 and a public hearing for second
reading of this Ordinance set for the 2 nd day of June, 2009, at 6:00 p.m. in the Council Chambers of
the Vail Municipal Building, Vail, Colorado.
Richard D. Cleveland, Mayor
ATTEST:
Lorelei Donaldson, Town Clerk
READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 2 nd day
of June, 2009.
Richard D. Cleveland, Mayor
Attest:
Lorelei Donaldson, Town Clerk
Ordinance No. 13, Series of 2009 second reading 3
11 -2 -3
Ova"
7M
VAIL TOWN COUNCIL AGENDA MEMO
MEETING DATE: June 2, 2009
ITEM /TOPIC: Resolution No. 17, Series of 2009, a Resolution Approving an
Intergovernmental Agreement Between the Town of Vail, Colorado and the State of Colorado
Department of Revenue Regarding the Authorization to Administer Commercial Driver's
License Driver Skills Testing; and Setting Forth Details in Regard Thereto.
PRESENTER(S): Greg Hall / Matt Mire
ACTION REQUESTED OF COUNCIL: Approve the IGA, and authorize the Town Manager to
sign and enter into the IGA with DOR.
BACKGROUND: The Town of Vail has been providing CDL examiner services for our
employees for many years. Without the approval of the state in the form of the IGA, the town's
C.D.L. Examiner licenses will be lost and we will not be able to train and test our new seasonal
drivers next fall. If that happens, we will need to find another third party tester, most likely in
the Denver area, to test our drivers. The expenses and timing would be very prohibitive.
STAFF RECOMMENDATION: Approve the IGA, and authorize the Town Manager to sign
and enter into the IGA with the DOR in a form approved by the Town Attorney.
ATTACHMENTS:
Resolution No. 17, Series of 2009
Exhibit A DOR IGA
RESOLUTION NO. 17
Series of 2009
A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE
TOWN OF VAIL, COLORADO AND THE STATE OF COLORADO DEPARTMENT OF
REVENUE REGARDING THE AUTHORIZATION TO ADMINISTER COMMERCIAL DRIVER'S
LICENSE DRIVER SKILLS TESTING; AND SETTING FORTH DETAILS IN REGARD
THERETO.
WHEREAS, the Town of Vail (the "Town "), in the County of Eagle and State of Colorado
is a home rule municipal corporation duly organized and existing under the laws of the State of
Colorado and the Town Charter (the "Charter "); and
WHEREAS, the members of the Town Council of the Town (the "Council ") have been
duly elected and qualified; and
WHEREAS, the Town and the Colorado Department of Revenue (the "DOR ") wish to
enter into an Intergovernmental Agreement ( "IGA ") to authorize Commercial Driver's License
( "CDL ") Testing Units to administer and provide CDL Driver Skills Testing on behalf of the DOR.
WHEREAS, the Town meets the necessary Commercial Driver's License ( "CDL ") Testing
Units to administer and provide CDL Driver Skills Testing.
WHEREAS, the Town's operations require the continued testing of employees for the
necessary Commercial Driver's License ( "CDL ") skills to maintain service levels to the
community.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO THAT:
Section 1. The Council hereby approves and authorizes the Town Manager to enter
into the IGA with DOR, in substantially the same form as attached hereto as Exhibit A and in a
form approved by the Town Attorney, for the authorization to provide CDL driver skills testing on
behalf of the State of Colorado.
Section 2. This Resolution shall take effect immediately upon its passage.
INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Town Council of
the Town of Vail held this 2 nd day of June, 2009.
Richard Cleveland
Town Mayor
ATTEST:
Lorelei Donaldson,
Town Clerk
Resolution No. 17, Series 2009
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Department of Revenue
TAA
Intergovernmental Agreement
THIS AGREEMENT, made this day of 20 , by and between the
State of Colorado for the use and benefit of the Department of Revenue, Motor Carrier Services
Division, CDL Compliance Section, 1881 Pierce Street, Room 118, Lakewood, Colorado 80214,
hereinafter referred to as "DOR ", and
a (name and type of governmental entity ")
(address), FEIN Number ,
hereinafter referred to as the "CDL Testing Unit ".
FACTUAL RECITALS
DOR is authorized by Sections 24-4 -103, 42- 2- 111(1)(b), 42- 2- 403(2)(a), 42- 2- 406(3) and 407(8)
C. R. S. to adopt rules and regulations as necessary for the Commercial Driver's License ( "CDL ")
Program to ensure compliance and promote the safety and welfare of the citizens of Colorado; and
DOR desires to memorialize and authorize CDL Testing Units to Administer and provide CDL
Driver Skills Testing on behalf of DOR; and
By reference, DOR adopts and incorporates into this agreement the Federal Motor Carrier Safety
Regulations Parts 383, 384, 386, 390 and 391, Qualifications and Disqualification and Code of Federal
Regulations, Title 49, Parts 383, 384, 386, 390 and 391, revised as of October 1, 2002.
Required approval, clearance and coordination has been accomplished from and with appropriate
agencies; and
NOW, THEREFORE, it is hereby agreed that in consideration of the mutual covenants and agreements
set forth, the sufficiency of which is hereby acknowledged, DOR and the CDL Testing Unit agree as
follows:
1. PRIORITY OF INTERPRETATION The provisions of this agreement shall be governing over the
relationship of DOR and the CDL Testing Unit. Should conflict in any provisions of this agreement and
any exhibits be identified, the priority of interpretation of the agreement shall be: first, the Special
Provisions incorporated within the agreement; second, the terms and provisions of this agreement; and
third, the Rules and Regulations for the CDL Program, ( "Exhibit A "), hereby attached and incorporated
herein.
2. STATEMENT OF WORK AND RESPONSIBILITIES.
A. On behalf of DOR, The CDL Testing Unit shall competently provide CDL Driving Skills Testing,
services to DOR and applicants pursuant to and consistent with the intent of all applicable Federal
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and State laws, the terms of this agreement; the Rules and Regulations for the Commercial
Driver's License (CDL) Program, attached and incorporated herein as Exhibit A; and, the current
CDL Tester's manual, hereby incorporated by reference.
B. CDL Testing Unit shall at all times have a valid signed agreement with DOR prior to providing
the services pursuant to the agreement. Additionally, the CDL Testing Unit and the CDL Driving
Skills Tester shall be in possession of a valid license in accordance with Exhibit A of this
agreement prior to providing services authorized by this agreement.
C. The CDL Testing Unit shall have written permission from the landowner to administer the CDL
vehicle basic control tests on areas not owned by the CDL Testing Unit. This written permission,
substantially in a form equivalent to Attachment A, attached and incorporated herein, shall be
submitted to DOR for approval prior to testing.
D. The CDL Testing Unit agrees to:
1) Maintain an established place of business in Colorado with a vehicle fleet of no less than
three CMV's owned, leased or registered to the testing unit, the business owner or an
employee of the business; or
2) Maintain an adult education occupational business license with the Division of Private
Occupational School, a division of the Colorado Department of Higher Education; or
3) Be an agency of government, public school district, private or parochial school or other type
of pre - primary, primary, or secondary school transporting students from home to school or
from school to home.
4) Comply with the Colorado Third Party Testing Professional Code of Ethics, attached and
incorporated herein as Attachment B.
3. TERM The term of this agreement is from July 1, 2009 or the date DOR executes this agreement,
whichever is later and shall end June 30, 2010.
DOR, in its sole discretion, may require continued performance for four (4) additional periods of twelve
(12) months for any services at the terms specified in the agreement. DOR may exercise the option by
written notice of its intent to renew to the CDL Testing Unit within thirty (30) days prior to the end of the
current agreement term. Notice of intent does not commit DOR to a renewal. The renewal shall be in a
form substantially equivalent to Attachment C of this agreement ( "Option Letter "). The Option Letter
shall not be valid until signed by DOR. The total duration of this agreement shall not exceed five (5)
years.
The term of this agreement is contingent upon the issuance or renewal of a valid CDL Testing Unit
license. Permanent revocation of the CDL Testing Unit License shall be sufficient cause for immediate
termination of this agreement.
4. INSPECTION AND ACCEPTANCE The CDL Testing Unit shall permit DOR and federal agency
monitoring and auditing of records and activities that are or have been undertaken pursuant to this
agreement. DOR reserves the right to inspect services provided under this agreement at all reasonable
times and places during the term of the agreement, including any extensions. "Services" as used in this
clause includes services performed or tangible material produced or delivered in the performance of
services. If any of the services do not conform to agreement requirements, DOR may require the CDL
Testing Unit to perform the services again in conformity with the agreement requirements. When defects
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in the quality or quantity of service cannot be corrected by re- performance, DOR may require the CDL
Testing Unit to take necessary action to ensure that the future performance conforms to the agreement
requirements.
5. NON - EXCLUSIVE RIGHTS It is understood and agreed by the CDL Testing Unit that DOR does
not grant the CDL Testing Unit exclusive rights to provide the products and/or services under this
agreement. DOR reserves the right to agreement from persons and entities other than the CDL Testing
Unit, as may be in the best interest of DOR. This agreement shall remain in full force and affect should
DOR enter into other agreements for the same or similar goods and services as provided under this
agreement.
6. SUBCONTRACTORS Pursuant to 42- 2- 407(1) C.R.S., the use of subcontractors in the performance
of this agreement is not allowed. CDL Driving Skills Tests may be performed only by employees of
DOR or by CDL Driving Skills Tester(s) employed by CDL Testing Units.
7. REPRESENTATIONS, WARRANTIES, AND PERFORMANCE STANDARDS The CDL Testing
Unit shall perform the services described in Section 2, "Statement of Work and Responsibilities ", in
accordance with the highest standard of care, skill and diligence provided by a professional person or
company in performance of work similar to the service. The CDL Testing Unit warrants that (a) services
provided under this agreement shall meet the descriptions in this agreement, (b) there are no pending or
threatened suits, claims, or actions of any type with respect to the services provided and (c) the services
shall be free and clear of any liens, encumbrances, or claims arising by or through the CDL Testing Unit
or any party related to the CDL Testing Unit.
The CDL Testing Unit expressly warrants and guarantees complete performance of the work in a manner
acceptable to DOR.
8. CONFLICT OF INTEREST /GIFTS GRATUITIES During the term of this agreement, the CDL
Testing Unit shall not engage in any business or personal activities or practices or maintain any
relationships which conflict in any way with the full performance of the CDL Testing Unit's obligations
under this agreement.
Additionally, the CDL Testing Unit acknowledges that in governmental agreementing, even the
appearance of a conflict of interest is harmful to the interests of DOR. Therefore, the CDL Testing Unit
shall refrain from any practices, activities or relationships that could reasonably be considered to be in
conflict with the full performance of CDL Testing Unit's obligations to DOR in accordance with the
terms and conditions of this agreement, without the prior written approval of DOR.
In the event that the CDL Testing Unit is uncertain whether the appearance of a conflict of interest may
reasonably exist, the CDL Testing Unit shall submit to DOR a full disclosure statement setting forth the
relevant details for DOR's consideration and direction. Failure to promptly submit a disclosure statement
or to follow DOR's direction in regard to the apparent conflict shall be grounds for termination of the
agreement.
The CDL Testing Unit shall not, by itself or through any officer, director, employee, agent, partner,
subagreementor or other representative, offer, give, grant, or otherwise deliver any gift, gratuity, or
anything of monetary or non - monetary value to any employee of DOR or to any member of his/her
immediate family or anyone living in his/her household. Failure by the CDL Testing Unit to ensure
compliance with this provision may result, in DOR's sole discretion, in immediate termination of the
agreement.
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9. PERFORMANCE BOND The CDL Testing Unit shall acquire a performance bond in the amount of
five thousand dollars ($5,000.00) when the CDL Testing Unit is testing applicants outside of their testing
unit. Such bond must inure to the benefit of DOR and shall be in force through the term of the agreement,
including any extensions. A certificate evidencing coverage must be delivered to DOR prior to execution
of the agreement and prior to each subsequent renewal. The bond agreement shall contain a provision
that indicates that any modifications or cancellation of such bond can occur only sixty (60) days after
written notice to DOR. In the event of default by the CDL Testing Unit, DOR will have the sole
responsibility for selecting the alternate CDL Testing Unit.
10. PRESS CONTACTS/NEWS RELEASES The CDL Testing Unit shall not initiate any press and/or
media contact nor respond to press /media requests regarding this agreement and/or any related matters
concerning DOR without the prior written approval of DOR.
11. CONFIDENTIALITY OF STATE RECORDS AND INFORMATION The CDL Testing Unit
acknowledges that it may come into contact with confidential information in connection with this
agreement or in connection with the performance of its obligations under this agreement, including but
not limited, to personal records and information of individuals. It shall be the responsibility of the CDL
Testing Unit to keep all State records and information confidential at all times and to comply with all
Colorado State and Federal laws, rules and regulations concerning the confidentiality of information.
Any request or demand for information in the possession of the CDL Testing Unit made by a third party
who is not an authorized party to this agreement shall be immediately forwarded to the DOR's
representative listed in the "Notices and Representatives" section of this agreement for resolution.
The CDL Testing Unit shall provide and maintain a secure environment that ensures confidentiality of all
State records and information wherever located. No State information of any kind shall be distributed or
sold to any third party or used by the CDL Testing Unit or its agents in any way, except as authorized by
the CDL Testing Unit and as approved by the DOR. State information shall not be retained in any files or
otherwise by the CDL Testing Unit or its agents, except as set forth in this agreement and approved by the
DOR. Disclosure of State records or information may be cause for legal action against the CDL Testing
Unit or its agents. Defense of any such action shall be the sole responsibility of the CDL Testing Unit or
its agents.
If the CDL Testing Unit becomes aware of a breach of data security, it shall notify DOR immediately and
cooperate with DOR regarding recovery, remediation, and the necessity to involve law enforcement, if
any. The CDL Testing Unit shall be responsible for the cost of notifying each Colorado resident and
residents of other states whose personal information may have been compromised. Notice shall be made
as soon as possible within the legitimate needs of law enforcement and according to the requirements of
DOR. The CDL Testing Unit shall be responsible for performing an analysis to determine the cause of
the breach, and for producing a remediation plan to reduce the risk of incurring a similar type of breach in
the future. The CDL Testing Unit shall present such analysis and remediation plan to DOR within ten
(10) days of notifying DOR of the breach of data security. DOR reserves the right to adjust this plan, in
its sole discretion. In the event that the CDL Testing Unit cannot produce the required analysis and plan
within the allotted time, DOR, in its sole discretion, may perform such analysis and produce a
remediation plan that the CDL Testing Unit shall comply with, at the CDL Testing Unit's sole cost.
The CDL Testing Unit shall notify all of its agents, employees, subcontractors and assigns who will come
into contact with State information that they are subject to the confidentiality requirements set forth
herein, and shall provide each with a written explanation of the requirements before they are permitted to
access information or data.
12. THIRD PARTY BENEFICIARIES The enforcement of the terms and conditions of this agreement
and all rights of action relating to such enforcement shall be strictly reserved to DOR and the CDL
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Testing Unit. Nothing contained in this agreement shall give or allow any claim or right of action
whatsoever by any other third person. It is the express intention of DOR and the CDL Testing Unit that
any such person or entity, other than DOR or the CDL Testing Unit, receiving services or benefits under
this agreement shall be deemed an incidental beneficiary only.
13. NOTICES The CDL Testing Unit shall notify the State in writing within three (3) business days of
any of the following:
• Any State or court ordered action imposing suspension, revocation, or cancellation upon the
driver's license of a CDL Driving Skills Tester.
• Any State or court ordered action imposing an "Out of Service" order or "Removal from Safety
Sensitive Function" order on the driving status of a CDL Driving Skills Tester.
• Any change in the CDL Testing Unit's name address, phone number, and testing location.
• The CDL Testing Unit ceases business operations in Colorado.
For the Testing Unit: For the State:
State of Colorado
Name Department of Revenue
MCS- CDL
Trish Aragon
Address 1881 Pierce St., Room 118
Lakewood, CO 80214
303 - 205 -5670
Address
Telephone Number
14. LEGAL AUTHORITY The CDL Testing Unit warrants that it possesses the legal authority to
enter into this agreement and that it has taken all actions required by its procedures, by -laws, and/or
applicable law to exercise that authority, and to lawfully authorize its undersigned signatory to
execute this agreement and to bind the CDL Testing Unit to its terms. The person(s) executing this
agreement on behalf of the CDL Testing Unit warrant(s) that such person(s) have full authorization
to execute this agreement.
15. REMEDIES. In addition to any other remedies provided for in this agreement, and without limiting
its remedies otherwise available at law, the State may exercise the following remedial actions if the
CDL Testing Unit substantially fails to satisfy or perform the duties and obligations in this
agreement. Substantial failure to satisfy the duties and obligations shall be defined to mean be
significant insufficient, incorrect or improper performance, activities, or inaction by the CDL Testing
Unit. These remedial actions are as follows:
A. Suspend the CDL Testing Unit's performance pending necessary corrective action as
specified by the State without the CDL Testing Unit's entitlement to adjustment in
schedule; and/or
B. Request the removal from work on the agreement of employees or agents of the CDL
Testing Unit whom the State justifies as being incompetent, careless, insubordinate,
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unsuitable, or otherwise unacceptable, or whose continued employment on the agreement
the State deems to be contrary to the public interest or not in the best interest of the State;
and/or
C. Terminate the agreement for default.
The above remedies are cumulative and the State, in its sole discretion, may exercise any or all of
them individually or simultaneously.
15. TERMINATION FOR CONVENIENCE
Termination
The State may, when the interests of the State so require, terminate this agreement in whole or in part,
for the convenience of the State. The State shall give at least ten (10) days advance written notice of the
termination to the CDL Testing Unit specifying the part(s) of the agreement terminated and the
effective date of termination. Exercise by the State of the Termination of Convenience Clause in no
way implies that the State has breached the agreement.
CDL Testing Unit's Obligations
The CDL Testing Unit shall incur no further obligations in connection with the terminated work and on
the date specified in the notice of termination the CDL Testing Unit shall stop work to the extent
specified. The CDL Testing Unit shall also terminate outstanding orders and subcontracts as they relate
to the terminated work. The CDL Testing Unit shall settle the liabilities and claims arising out of the
termination of subcontracts and orders connected with the terminated work. The CDL Testing Unit must
still complete and deliver to the State the work not terminated by the Notice of Termination and incur
obligations as are necessary to do so.
16. TERMINATION FOR DEFAULT /CAUSE If the CDL Testing Unit refuses or fails to perform
any of the provisions of this agreement, the State may notify the CDL Testing Unit in writing of the
non - performance, and if not promptly corrected within the time specified, the State may terminate
the CDL Testing Unit's right to proceed with the agreement or such part of the agreement as to
which there has been delay or a failure to properly perform. In the event of termination, all finished
or unfinished documents, data, studies, surveys, reports or other materials prepared by the CDL
Testing Unit pursuant to this agreement shall, at the option of the State, become the State's
property and, if in the possession of the CDL Testing Unit, shall immediately be returned to the
State. The CDL Testing Unit shall continue performance of the agreement to the extent it is not
terminated.
Notwithstanding the above, the CDL Testing Unit shall not be relieved of liability to the State for
any damages sustained by the State by virtue of any breach of the agreement by the CDL Testing
Unit.
Notwithstanding termination of the agreement and subject to any directions from the State, the
CDL Testing Unit shall take timely, reasonable and necessary action to protect and preserve
property in the possession of the CDL Testing Unit in which the State has an interest.
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Excuse for Nonperformance or Delayed Performance
The CDL Testing Unit shall not be in default by reason of any failure in performance of this
agreement in accordance with its terms if such failure arises as a result of "force majeure," as set
forth in the "Force Majeure" section of this agreement. Upon request of the CDL Testing Unit, the
State shall ascertain the facts and extent of such failure, and, if the State determines that any failure
to perform was a result of force majeure, and that, but for the force majeure, the CDL Testing Unit's
progress and performance would have met the terms of the agreement, the delivery schedule shall be
revised accordingly, subject to the rights of the State.
Erroneous Termination. or Default
If after notice of termination of the CDL Testing Unit's right to proceed under the provisions of this
clause, it is determined for any reason that the CDL Testing Unit was not in default under the
provisions of this clause, or that the delay was excusable, the rights and obligations of the parties
shall be the same as if the notice of termination had been issued pursuant to the termination for
convenience clause.
17. INSURANCE. If the CDL Testing Unit is a "public entity" within the meaning of the
ColoradoGovernmental Immunity Act, CRS 24 -10 -101, et seg., as amended ( "Act "), the CDL
Testing Unit shall at all times during the term of this agreement maintain such liability
insurance, by commercial policy or self - insurance, as is necessary to meet its liabilities under the
Act. Upon request by the State, the CDL Testing Unit shall show proof of such insurance.
18. ASSIGNMENT AND SUCCESSORS. The CDL Testing Unit shall not assign rights or delegate
duties under this agreement.
19. FORCE MAJEURE Neither the CDL Testing Unit nor the State shall be liable to the other for any
delay in, or failure of performance of, any covenant or promise contained in this agreement, nor shall any
delay or failure constitute default or give rise to any liability for damages if, and only to the extent that,
such delay or failure is caused by "force majeure". As used in this agreement "force majeure" means
acts of God; acts of the public enemy; acts of the State and any governmental entity in its sovereign or
agreementual capacity; fires; floods; epidemics; quarantine restrictions; strikes or other labor disputes,
freight embargoes; illegality, or unusually severe weather.
20. WAIVER The waiver of any breach of a term, provision, or requirement of this contract shall not
be construed or deemed as waiver of any subsequent breach of such term, provision, or
requirement, or of any other term, provision, or requirement.
21. INTEGRATION OF UNDERSTANDING. This agreement is intended as the complete integration of
all understandings between the parties. No prior or contemporaneous addition, deletion, or other
amendment hereto shall have any force or effect unless embodied herein in writing. No subsequent
notation, renewal, addition, deletion, or other amendment hereto shall have any force or effect unless
embodied in a written contract executed and approved pursuant to State Fiscal Rules.
22. SURVIVAL OF CERTAIN CONTRACT TERMS. Notwithstanding anything herein to the
contrary, the parties understand and agree that all terms and conditions of this agreement and the exhibits
and/or attachments hereto which may require continued performance, compliance, or effect beyond the
termination or expiration date of the agreement shall survive such termination or expiration date and shall
be enforceable by the State as provided herein in the event of such failure to perform or to comply by the
CDL Testing Unit.
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23. MODIFICATION AND AMENDMENT This agreement is subject to such modifications as may be
required by changes in Federal or State law, or their implementing regulations. Any such required
modification shall automatically be incorporated into and be part of this agreement on the effective date
of such change as if fully set forth herein. Except as provided above, no modification of this agreement
shall be effective unless agreed to in writing by both parties in an amendment to this agreement that is
properly executed and approved in accordance with applicable law.
24. COOPERATION OF THE PARTIES. The CDL Testing Unit and the State agree to cooperate fully,
to work in good faith, and to mutually assist each other in the performance of this agreement. In
connection herewith, the parties shall meet to resolve problems associated with this agreement. Neither
party will unreasonably withhold its approval of any act or request of the other to which the party's
approval is necessary or desirable. Disputes arising under this agreement that cannot be settled through
an informal meeting may be resolved through the procedures set forth in the Colorado Procurement
Code.
25. VENUE & CHOICE OF LAW This agreement is made in the State of Colorado. CDL Testing
Unit agrees that exclusive venue for any action between the parties for claims concerning this
agreement shall be in the City and County of Denver, Colorado. In accordance with Special Provision 6,
GENERAL, below, the laws of the State of Colorado shall control.
26. SECTION HEADINGS The section headings or titles are for convenience only and shall have no
substantive effect in the interpretation of the agreement.
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SPECIAL PROVISIONS
These Special Provisions apply to all contracts except where noted in italics.
1. CONTROLLER'S APPROVAL. CRS §24- 30- 202(1). This contract shall not be valid until it has been approved by the Colorado State
Controller or designee.
2. FUND AVAILABILITY. CRS §24 -30- 202(5.5). Financial obligations of the State payable after the current fiscal year are contingent upon
funds for that purpose being appropriated, budgeted, and otherwise made available.
3. GOVERNMENTAL IMMUNITY. No term or condition of this contract shall be construed or interpreted as a waiver, express or implied, of any
of the immunities, rights, benefits, protections, or other provisions, of the Colorado Governmental Immunity Act, CRS §24 -10 -101 et seq., or the
Federal Tort Claims Act, 28 U.S.C. §§ 1346(6) and 2671 et seq., as applicable now or hereafter amended.
4. INDEPENDENT CONTRACTOR. Contractor shall perform its duties hereunder as an independent contractor and not as an employee. Neither
Contractor nor any agent or employee of Contractor shall be deemed to be an agent or employee of the State. Contractor and its employees and
agents are not entitled to unemployment insurance or workers compensation benefits through the State and the State shall not pay for or otherwise
provide such coverage for Contractor or any of its agents or employees. Unemployment insurance benefits will be available to Contractor and its
employees and agents only if such coverage is made available by Contractor or a third parry. Contractor shall pay when due all applicable
employment taxes and income taxes and local head taxes incurred pursuant to this contract. Contractor shall not have authorization, express or
implied, to bind the State to any agreement, liability or understanding, except as expressly set forth herein. Contractor shall (a) provide and keep
in force workers' compensation and unemployment compensation insurance in the amounts required by law, (b) provide proof thereof when
requested by the State, and (c) be solely responsible for its acts and those of its employees and agents.
5. COMPLIANCE WITH LAW. Contractor shall strictly comply with all applicable federal and State laws, rules, and regulations in effect or
hereafter established, including, without limitation, laws applicable to discrimination and unfair employment practices.
6. CHOICE OF LAW. Colorado law, and rules and regulations issued pursuant thereto, shall be applied in the interpretation, execution, and
enforcement of this contract. Any provision included or incorporated herein by reference which conflicts with said laws, rules, and regulations
shall be null and void. Any provision incorporated herein by reference which purports to negate this or any other Special Provision in whole or in
part shall not be valid or enforceable or available in any action at law, whether by way of complaint, defense, or otherwise. Any provision
rendered null and void by the operation of this provision shall not invalidate the remainder of this contract, to the extent capable of execution.
7. BINDING ARBITRATION PROHIBITED. The State of Colorado does not agree to binding arbitration by any extra judicial body or person.
Any provision to the contrary in this contact or incorporated herein by reference shall be null and void.
8. SOFTWARE PIRACY PROHIBITION. Governor's Executive Order D 002 00. State or other public funds payable under this contract shall
not be used for the acquisition, operation, or maintenance of computer software in violation of federal copyright laws or applicable licensing
restrictions. Contractor hereby certifies and warrants that, during the term of this contract and any extensions, Contractor has and shall maintain
in place appropriate systems and controls to prevent such improper use of public funds. If the State determines that Contractor is in violation of
this provision, the State may exercise any remedy available at law or in equity or under this contract, including, without limitation, immediate
termination of this contract and any remedy consistent with federal copyright laws or applicable licensing restrictions.
9. EMPLOYEE FINANCIAL INTEREST /CONFLICT OF INTEREST. CRS § §24- 18-201 and 24-50 -507. The signatories aver that to their
knowledge, no employee of the State has any personal or beneficial interest whatsoever in the service or property described in this contract.
Contractor has no interest and shall not acquire any interest, direct or indirect, that would conflict in any manner or degree with the performance
of Contractor's services and Contractor shall not employ any person having such known interests.
10. VENDOR OFFSET. CRS § §24- 30-202 (1) and 24 -30- 202.4. [Not Applicable to intergovernmental agreements] Subject to CRS §24 -30 -202.4
(3.5), the State Controller may withhold payment under the State's vendor offset intercept system for debts owed to State agencies for: (a) unpaid
child support debts or child support arrearages; (b) unpaid balances of tax, accrued interest, or other charges specified in CRS §39 -21 -101, et
seq.; (c) unpaid loans due to the Student Loan Division of the Department of Higher Education; (d) amounts required to be paid to the
Unemployment Compensation Fund; and (e) other unpaid debts owing to the State as a result of final agency determination or judicial action.
11. PUBLIC CONTRACTS FOR SERVICES. CRS §8- 17.5 -101. [Not Applicable to agreements relating to the offer, issuance, or sale of
securities, investment advisory services or fund management services, sponsored projects, intergovernmental agreements, or information
technology services or products and services] Contractor certifies, warrants, and agrees that it does not knowingly employ or contract with an
illegal alien who will perform work under this contract and will confirm the employment eligibility of all employees who are newly hired for
employment in the United States to perform work under this contract through participation in the E- Verify Program or the Department program
established pursuant to CRS §8- 17.5- 102(5xc), Contractor shall not knowingly employ or contract with an illegal alien to perform work under
this contract or enter into a contract with a subcontractor that fails to certify to Contractor that the subcontractor shall not knowingly employ or
contract with an illegal alien to perform work under this contract Contractor (a) shall not use E- Verify Program or Department program
procedures to undertake pre - employment screening of job applicants while this contract is being performed, (b) shall notify the subcontractor and
the contracting State agency within three days if Contractor has actual knowledge that a subcontractor is employing or contracting with an illegal
alien for work under this contract, (c) shall terminate the subcontract if a subcontractor does not stop employing or contracting with the illegal
alien within three days of receiving the notice, and (d) shall comply with reasonable requests made in the course of an investigation, undertaken
pursuant to CRS §8 -17.5- 102(5), by the Colorado Department of Labor and Employment. If Contractor participates in the Department program,
Contractor shall deliver to the contracting State agency, Institution of Higher Education or political subdivision a written, notarized affirmation,
affirming that Contractor has examined the legal work status of such employee, and shall comply with all of the other requirements of the
Department program. If Contractor fails to comply with any requirement of this provision or CRS §8 -17.5 -101 et seq., the contracting State
agency, institution of higher education or political subdivision may terminate this contract for breach and, if so terminated, Contractor shall be
liable for damages.
12. PUBLIC CONTRACTS WITH NATURAL PERSONS. CRS §24- 76.5 -101. Contractor, if a natural person eighteen (18) years of age or older,
hereby swears and affirms under penalty of perjury that he or she (a) is a citizen or otherwise lawfully present in the United States pursuant to
federal law, (b) shall comply with the provisions of CRS §24- 76.5 -101 et seq., and (c) has produced one form of identification required by CRS
§24- 76.5 -103 prior to the effective date of this contract. Revised 1 -1-09
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THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT
CDL TESTING UNIT: STATE OF COLORADO:
BILL RMER, JR., GOVERNOR
By: By:
Legal Name of Contracting Entity Joan Vecchi, Senior Director
Motor Vehicle Division
For the Executive Director
Department of Revenue
Social Security Number or FEIN
Signature of Authorized Officer
Print Name & Title of Authorized Officer
CORPORATIONS:
(A corporate attestation is required.)
Attest (Seal) (Place corporate seal here, if available.)
By:
(Corporate Secretary or Equivalent, or
Town/City /County Clerk
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Exhibit A
RULES AND REGULATIONS FOR THE COMMERCIAL
DRIVER'S LICENSE (CDL) PROGRAM
1 CCR 204 -12
November 2008
A. BASIS, PURPOSE AND STATUTORY
(1) The Department is authorized to adopt rules and regulations as necessary for the Commercial
Driver's License Program in accordance with Sections 24-4 -103, 42- 2- 111(1)(b), 42- 2- 403(2)(a),
42- 2- 407(8), CRS.
(2) The purpose of these rules is to ensure compliance with state and federal requirements to promote
the safety and welfare of the citizens of Colorado.
B. INCORPORATION BY REFERENCE OF FEDERAL RULES
(1) Adoption: The Department incorporates by reference the Federal Motor Carrier Safety
Regulations Part 383, 384, 390, and 391, Qualifications and Disqualification of Drivers.
(2) The Federal Regulations incorporated or referenced by this rule are published in the Code of
Federal Regulations, Title 49, Part 383, 384, 390, and 391, revised as of May 2007. Material
incorporated by reference in this rule does not include later amendments to or editions of the
incorporated material. The Federal rules and regulations referenced or incorporated in these rules
are on file and available for inspection by contacting the Motor Carrier Services Division of the
Department of Revenue, 1881 Pierce Street, Room 118, Lakewood, Colorado, 80214, 303 -205-
5600, and copies of the materials may be examined at any state publication depository library.
*Matter incorporated by reference.
C. DEFINITIONS
(1) AAMVA: American Association of Motor Vehicle Administrators is a voluntary, nonprofit, tax
exempt, educational unit that represents state and provincial officials in the United States and
Canada who administer and enforce motor vehicle laws.
(2) CDL: Commercial Driver's License means a license issued to an individual in accordance with the
requirements of the federal "Commercial Motor Vehicle Safety Act of 1986." The document
issued by the Department entitles the holder while having such document in his/her immediate
possession, to drive a motor vehicle of certain classes and endorsements upon the highways
without supervision.
(3) CDL Instruction Permit: The permit issued by the Department entitling the applicant, while
having such permit in his/her immediate possession, to drive a motor vehicle of certain classes
and/or endorsements upon the highways with a driver that possesses a CDL with the same class
and/or endorsements or higher, as the CDL Instruction Permit driver.
(4) CDL Vehicle Class: A group or type of vehicle with certain operating characteristics.
(5) CDLIS: Commercial Driver's License Information System is the central database that stores the
list of CDL drivers, in addition, the drivers' state of record.
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(6) CDL driving tester or driving tester: An individual licensed by the Department under the
provisions of Section 42 -2 -407, CRS to administer CDL driving tests.
(7) CDL testing unit or testing unit: A business, association, or governmental entity licensed by the
Department under the provisions of 42- 2-407, CRS to administer CDL driving tests.
(8) CMV: Commercial Motor Vehicle means a motor vehicle designed or used in commerce to
transport passengers or property, if the vehicle, has a gross vehicle weight rating of 26,001 or more
pounds or such lesser rating determined by federal regulation; or is designed to transport sixteen or
more passengers, including the driver; or is transporting hazardous materials and is required to be
placarded.
(9) CRS: Colorado Revised Statutes.
(10) Department: Colorado Department of Revenue.
(11) Disqualifications: The suspension, revocation, cancellation, or any other withdrawal by the
Department of a person's privilege to drive a CMV or a determination by the FHWA under the
rules of practice for motor carrier safety contained in Part 386 of this title, that a person is no longer
qualified to operate a CMV under Part 391; or the loss of qualification that automatically follows
conviction of an offense listed in FMCSR 383.51
(12) DPOS: Division of Private Occupational School, a division of the Colorado Department of Higher
Education.
(13) Designed to Transport: The manufacturer's original rated capacity of the vehicle.
(14) Endorsements: This is a letter indicator added to a CDL and/or permits that indicate successful
completion of the appropriate knowledge and/or skill test(s) that allows the operation of a special
configuration of vehicle(s).
(a) T = Double /triple trailers
(b) P = Passenger
(c) N = Tank vehicles
(d) H = Hazardous materials (Not indicated on permit)
(e) S = School buses
M X = Combination of tank vehicle and hazardous materials (Not indicated on
permit)
(g) M = Motorcycle
(h) 3 = Three wheel motorcycle
(15) Exemptions: Regulatory relief given to a person or class of persons normally subject to regulations
without the exception.
(16) Farm Custom Harvester: An individual engaged in seasonal custom - harvesting operations.
(17) Farm- Related Service Industry: Is an entity with special Federal Motor Carrier Safety
Administration designation that provides farm- related services such as:
(a) Agri- chemical businesses;
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(b) Custom harvesters;
(c) Farm retail outlets and suppliers; and
(d) Livestock feeders.
(18) FHWA: Federal Highway Administration is an agency within the USDOT.
(19) FMCSA: Federal Motor Carrier Safety Administration is an agency within the USDOT.
(20) FMCSR: Federal Motor Carrier Safety Regulations (49 CFR Parts 350 -399).
(21) GCWR: Gross Combination Weight Rating is the value specified by the manufacturer as the
loaded weight of the combination (articulated) vehicle. In the absence of a value specified by the
manufacturer, GCWR will be determined by adding the GVWR of the power unit and the total
weight of the towed unit and any weight thereon.
(22) Government: means a state, county, city and county, municipality, school district, special
improvement district, and every other kind of district, agency, instrumentality, or political
subdivision thereof organized pursuant to law and any separate entity created by intergovernmental
contract cooperation only between or among the state, county, city and county, municipality, school
district, special improvement district, and every other kind of district, agency, instrumentality, or
political subdivision thereof.
(23) GVWR: Gross Vehicle Weight Rating is the value specified by the manufacturer as the loaded
weight of a single vehicle.
(24) Intrastate Driver: A driver authorized to operate a CMV within the boundaries of
Colorado, and not authorized to transport items of interstate commerce or hazardous materials.
(25) Interstate Commerce: Trade, traffic or transportation in the United States between a
place in the state and a place outside of such state, including outside of the United States or between
two places in a state as part of trade, traffic, or transportation originating or terminating outside the
state or the United States.
(26) Interstate Driver: A CDL holder authorized to cross state lines and transport interstate commerce
while operating a CMV.
(27) NDR: National Driver Register maintains the national database of driver histories. Each
applicant's driving history shall clear NDR prior to the issuance of a CDL.
(28) Non - Profit: An organization filing with the United States Code 26USC Section
501(c).
(29) CDL Passenger Vehicle: For the purposes of these rules a passenger vehicle designed to transport
16 or more passengers, including the driver.
(30) Paved Vehicle Control Testing Area: For the purpose of these rules, a paved testing area is a
surface made up of materials and adhesive compounds of a sufficient depth and strength prepared to
provide a durable, solid, smooth surface upon which an applicant will demonstrate basic vehicle
control skills.
(3 1) Public Transportation Entity: A mass transit district, mass transit authority, or any other public
entity authorized under the laws of this state to provide transportation services to the general public.
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(32) Representative Vehicle: A motor vehicle, that represents the group or type of motor vehicle that an
applicant operates or expects to operate.
(33) Restrictions: Prohibits the operation of certain types of vehicles or restricts operating a CMV
within designated boundaries.
(34) Salaried: A paid employee.
(35) USDOT: United States Department of Transportation.
(36) Vehicle Test Area Marking: The paved testing area will be painted to delineate boundaries for each
of the vehicle control skill tests. The area provides a defined test area with traffic cones placed
according to Department standards.
D. APPLICANT LICENSING REQUIREMENTS
(1) Each applicant for a CDL or instruction permit shall be a resident of Colorado, at least 18 years of
age, and comply with the testing and licensing requirements of the Department.
(a) The CDL and instruction permit will indicate the class of license, any endorsements and
any restrictions for that individual driver. The CDL is valid for the operation of a non -
CMV including a motorcycle with the appropriate motorcycle endorsement on the
license.
(b) A valid CDL may be transferred from another state authorized to issue a CDL.
(2) Prior to the issuance of a CDL or instruction permit, each applicant shall provide evidence of his/her
social security number (SSN) in accordance with Department procedures.
(3) Each applicant shall meet the medical and physical qualifications under FMCSR Part 391.41 * and
have this examination verified on a DOT medical examination form. Unless the following exceptions
apply, each driver shall carry this medical examination form or the medical examiner's certificate on
his/her person when operating a CMV:
(a) Individuals holding a waiver issued by the Colorado State Patrol or the FMCSA.
(b) Those who are exempted under FMCSR Part 391.2* for an individual engaged in farm
custom operations; custom harvesting; transporting farm machinery, supplies or both; and
certain farm vehicles.
*Matter incorporated by reference.
E. ENDORSEMENTS
(1) T- Double/Triple Trailers: Required to operate a CMV used for drawing two or more vehicles or
trailers with a GCWR that is 26,001 lbs. or more and combined GVWR of the vehicles being towed
are in excess of 10,000 lbs.
(2) P- Passenger: Required to operate a vehicle designed by the manufacturer to transport 16 or more
passengers, including the driver.
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(3) N -Tank Vehicles: Required to operate a vehicle to haul liquid or liquid gas in a permanently mounted
cargo tank rated at 119 gallons or more or a portable tank rated at 1,000 gallons or more.
(4) H- Hazardous Materials: Required to transport materials that require the motor vehicle to display a
placard under the hazardous materials regulations.
(5) S- School Buses: Required to operate a school bus used to transport public, private, parochial or any
other type of pre - primary, primary, or secondary students from home to school, from school to home
or to and from school sponsored events.
(6) X- Combination Tank/Hazmat: Required to operate vehicles that meet the definition of (3) and (4).
F. RESTRICTIONS
(1) Intrastate: The letter "K" is added to the CDL of a driver between the ages of 18 through 20, and/or
a driver who has been issued a valid medical waiver from the Colorado State Patrol. Under this
CDL restriction, the driver shall not:
(a) Operate a CMV outside the state boundaries;
(b) Transport interstate commerce as defined in the FMCSR 390.5 *; or
(c) Transport hazardous materials requiring a placard or commodities with a hazard
class or subject to the "poison by inhalation hazard" shipping description.
* Matter incorporated by reference.
(2) Air brake: The letter "L" is added to the CDL of an individual restricted from operating vehicles
equipped with air brakes. Air - over - hydraulic or assisted brake systems are not considered full air
brake systems.
(a) The "L" restriction is removed by successfully completing the air brake knowledge test
and the driving skill test's in a vehicle equipped with air brakes and is representative of
the vehicle class.
(b) Before taking the driving skill tests in a vehicle equipped with air brakes, the individual
shall have in his/her possession a CDL permit without the "L" restriction.
(3) No Tractor Trailer: The letters No Trctr Trlr, restrict operation of a truck tractor unit (laden or
unladed) designed and used to draw a semi - trailer or tractor. A "NO TRCTR TRLR" will be placed
on the Class A CDL restricting the driver from operating a Class A vehicle with a power unit that
has a GVWR of 26,001 lbs. or more.
(a) The "NO TRCTR TRLR" restriction can be removed by successfully completing the
driving skill tests in a Class A vehicle with a power unit that has a GVWR of 26,001 lbs.
or more.
(b) Before taking the driving skill tests in a Class A vehicle with a power unit that has a
GVWR of 26,001 lbs. or more, the driver shall have in their possession a CDL Instruction
permit without the "NO TRCTR TRLR" restriction.
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G. EXEMPTIONS
(1) FMCSR Part 383.3. Applicability authorizes the state to grant certain groups exceptions from the
CDL requirements.
(a) FMCSR — Part 383.3 (c): Exception for certain military drivers.
(b) FMCSR — Part 383.3 (d)(l and 2): Exception for farmers and firefighters are applicable
to CRS 42 -2-402 (4)(b)(III) and (IV).
(c) FMCSR — Part 383.3 (d)(3): Exception for drivers removing snow and ice.
(d) FMCSR— Part 383.3 (f): Restricted CDL for certain drivers in farm- related service
industries.
(2) FMCSR Part 391.2 specifies the exceptions to the physical qualifications for individuals engaged in
custom harvesting operations in FMCSR 391.2 *.
* Matter incorporated by reference.
H. ENTITY ELIGIBLE TO APPLY FOR A TESTING UNIT LICENSE
(1) The Department may authorize a testing unit to administer the CDL driving skill tests on behalf of the
Department if such training and testing is equal to the training and testing of the Department.
(2) Enter into a written contract with the Department and agree to:
(a) Maintain an established place of business in Colorado with a vehicle fleet of no less than
three CMV's owned, leased or registered to the testing unit, the business owner or an
employee of the business; or
(b) Maintain an adult education occupational business license with the Division of Private
Occupational School, a division of the Colorado Department of Higher Education; or
(c) Be an agency of government, public school district, private or parochial school or other
type of pre - primary, primary, or secondary school transporting students from home to
school or from school to home.
I. TESTING UNIT REQUIREMENTS
(1) An entity shall apply for and receive a CDL testing unit license from the Department in order to
administer CDL driving skill tests for the licensing period. The CDL testing license expires on
June 30' of each year. The license(s) for both the testing unit and driving tester(s) shall be
displayed in the place of business.
(a) Testing unit license fees are: $300.00 initial license; $100.00 annual renewal fee;
(b) Driving Tester License fees are: $100.00 initial license; $50.00 annual renewal fee;
(c) Driving tester license transfer fee: $50.00. Transferring from one unit to another within
six months of leaving a unit.
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12 -2 -16
(d) Fees are waived for units and testers that only provide public transportation.
(e) Public transportation units that test outside of their unit and do not provide public
transportation only, shall submit the appropriate fees.
(f) If a license is not renewed on or before June 30` of each year, the initial fees will apply.
Unit and driving tester license(s) may be suspended or inactivated until appropriate fees
and documentation are submitted.
(g) Licenses can be renewed 60 days prior to June 30 of each year.
(2) Testing units shall only test with a valid license issued by the Department.
(3) Testing units shall ensure that each driving tester has a valid license issued by the Department to
administer CDL driving skill tests.
(4) The testing unit shall notify the Department in writing within 3 working days of the termination or
separation of any driving tester.
(5) The place of business shall be a separate establishment and may not be part of a home. The CDL
testing unit shall comply with city zoning and code requirements. The unit's physical address shall
not be a post office box.
(6) The testing unit shall have written permission from the landowner to administer the CDL vehicle
basic control tests on areas not owned by the testing unit. This written permission shall be
submitted to the Department for approval prior to testing.]
(7) The testing unit shall maintain at least one salaried employee who is licensed and designated as a
CDL driving tester.
(8) The testing unit shall ensure that the unit's driving tester(s) administer the CDL driving skill tests as
outlined by Department.
(9) The testing unit shall ensure that the unit's driving tester(s) complete all CDL Third Party Testing
forms correctly.
(10) The testing unit shall ensure that the unit's driving tester(s) administer the CDL driving skill tests to
drivers in the vehicle class and/or endorsement(s) that the driver has on his or her instruction permit
or CDL.
(11) The testing unit is responsible for ensuring that the testers attend all mandated training provided by
the CDL Compliance Section. Failure of the tester to attend scheduled training may result in the
suspension of testing privileges.
(12) The testing unit shall submit a weekly testing schedule to the CDL Compliance section. This weekly
testing schedule will start on Monday and conclude on Sunday. Weekly schedules shall be
submitted by electronic mail or faxed no later than the Friday prior to the week of testing. The
weekly testing schedule shall include the: unit's name, unit's number, the driver's name, tester's
number, location, date and time of test. The CDL Compliance section shall be notified of all
canceled tests at least four (4) hours prior to the scheduled test or as soon as the testing unit or
driving tester is aware of the change.
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(13) Driving testers within a testing unit shall administer a minimum of four (4) complete CDL driving
skill tests during the previous licensing period to be eligible for renewal.
(14) The testing unit shall ensure that the unit's driving tester only issues the Colorado CDL Driving
Skill Test Completion form for the class of vehicle that the applicant has successfully completed the
driving skill test.
(15) The testing unit will allow CDL driving skill tests only on Department approved testing areas and
routes.
(16) All three portions of the CDL driving skill tests shall be conducted during daylight hours.
(17) The testing unit shall enter into an agreement with the Department containing, at a minimum,
provisions that:
(a) allow the FMCSA, the Department and their representatives to conduct random
inspections and audits without prior notice;
(b) require the Department to conduct on -site inspections at least annually;
(c) require all driving testers to meet the same training and qualifications as state examiners,
to the extent necessary to conduct CDL driving skill tests in compliance with these rules
and regulations;
(d) Required that, at least on an annual basis, Department employees shall take the tests
administered by the testing unit as if the state employee were a test applicant, or the
Department shall test a sample driver(s) who was tested by the third party to compare
pass -fail results; and
(e) Allow the Department the right to take prompt and appropriate remedial action against
any testing unit or driving tester when such driving tester fails to comply with
Department or federal standards or any other items of the contract or the rules and
regulations.
(f) Ensure driving testers that test outside of their unit obtain the AAMVA CDL third party
tester certification by December 31 of each year, as required by the Department.
AAMVA membership fees are the responsibility of the driving tester.
(18) Charge fees only in accordance with 42- 2-406, CRS. A tester and a testing unit shall only charge
for tests administered.
(a) The fees for the administration of driving skill tests for commercial drivers shall not
exceed the sum of one hundred seventy -five dollars.
(b) The fees for the administration of driving skill tests for commercial drivers to any
employee or volunteer of a nonprofit organization that provides specialized transportation
services for the elderly and for persons with disabilities, to any individual employed by a
school district, or to any individual employed by a board of cooperative services shall not
exceed one hundred dollars.
(c) The fees for the administration of a retest for a commercial driver after failing all or any
of the driving tests shall not exceed one hundred seventy -five dollars.
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(d) The fees for the administration of a retest for a commercial drivers to any employee or
volunteer of a nonprofit organization that provides specialized transportation services for
the elderly and for persons with disabilities, to any individual employed by a school
district, or to any individual employed by a board of cooperative services shall not exceed
one hundred dollars.
(19) Make all CDL testing records available for inspection during regular business hours.
(20) Hold the state harmless from liability resulting from the administration of the CDL program.
(21) Make annual application for renewal of the unit's testing license and individual tester license(s)
before the license expires on June 30` of each year.
J. DRIVING TESTER REQUIREMENTS
(1) The driving tester shall possess a valid USDOT medical card and a valid CDL with the appropriate
class and endorsement(s) to operate the vehicle(s) in which the CDL driving skill tests are
administered.
(2) The driving tester shall conduct the full CDL driving skill tests in accordance with Department
procedures and shall use state grading forms.
(3) The driving tester shall administer all portions of the CDL driving skill tests in English.
(4) Interpreters are not allowed for any portion of the driving skill tests.
(5) The driving tester agrees as part of the application to hold the State harmless from the liability of
CDL driving skill testing.
(6) The driving tester shall test in the CDL class of vehicle or endorsement(s) group authorized by the
Department.
(7) Prior to administering the CDL driving skill tests, the tester shall ensure that the applicant has in
his/her immediate possession, a current USDOT medical card, a current CDL instruction permit or
a current CDL for operating the class and endorsement(s) of vehicle being used for testing.
(8) The driving tester shall ensure that the vehicle that the CDL Skill tests will be administered in shall
be in proper working and mechanical order.
(9) A driving tester removed from performing a safety sensitive function, shall not perform any
functions under the CDL Third Party Testing Program.
(10) The vehicle inspection, the basic vehicle control skills and the on -road driving tests shall be
administered by the same tester in sequential order with no more than a 15- minute break between
each test and the road test. Tests shall be scheduled to avoid the lunch break.
(11) The driving tester shall be employed by a licensed testing unit prior to attending a new CDL Third
Party tester's training class.
(12) The driving tester may only administer the CDL driving skill tests on a test area and route that has
been approved by the Department. With prior approval from the Department, a driving tester may
use an alternate test area and route that has been approved by the Department.
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(13) The driving tester shall inform the applicant that he /she maybe randomly selected for a retest as
mandated by the FMCSR 383.75(a)(2)(iv) *. The driving tester shall ensure that the applicant reads
and signs the DR2736 (Colorado CDL Driving Skill Test Completion form).
* Matter incorporated by reference.
(14) The driving tester may administer CDL driving skill tests as an employee of, and on behalf of, the
licensed testing unit. The driving tester may administer tests for more than one unit. However the
driving tester shall be licensed under each unit to conduct testing on his/her behalf. The tester shall
keep all CDL records separate for each testing unit. License fees shall apply.
(15) If an applicant fails any portion(s) of the CDL driving skill tests they shall return on a different day
and perform all three (3) portions of the test over.
(16) The driving tester shall administer at least four (4) complete CDL driving skill tests within the
twelve -month period preceding the application for renewal from the Department.
(17) The driving tester shall verify the identity of the driver by comparing the photo on a drivers' license
with the driver.
(18) Upon leaving a testing unit, the driving tester's license may be transferred to another testing unit
within 6 months. If the tester is not employed at a licensed testing unit within 6 months, the tester
will be required to attend a new tester training class to be licensed by the Department. All training
and license fees shall apply and are the responsibility of the tester.
(19) The driving tester cannot administer CDL tests to a driver that he /she has trained within the same
day.
K. COURSE AND ROUTE REQUIREMENTS
(1) A testing unit shall have a paved area for the CDL vehicle inspection; vehicle control skill testing
that is large enough to administer all of the required CDL control maneuvers. These include:
(a) Solid painted lines and traffic cones shall be used to mark the testing boundaries in
accordance with Department standards.
(i) Traffic cones used to mark the test boundaries shall be a minimum of twelve
inches in height and the same size traffic cones shall be used for each maneuver.
Traffic cones shall be replaced when they are no longer retaining the original
shape and color.
(b) The vehicle control testing area shall be cleared to a condition that allows the applicant to
readily determine the boundary lines and cones during the test.
(i) The testing area boundaries shall be cleared of snow, debris, or vehicles that
would obstruct the applicant's view during the vehicle control maneuvers.
(ii) Testing on dirt, sand or graveled area is not allowed.
(c) The testing unit shall request and receive approval from the Department for any
change(s) to the approved road test route prior to administering a CDL road test.
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L. RIGHTS
(1) The driving tester may refuse to test an applicant. The tester shall notify the CDL Compliance
section if an applicant is refused a test and refer that applicant to the CDL Compliance Section.
(2) Governmental driving testers who want to test outside of their own unit shall request, in writing,
and receive approval from the CDL Compliance Section prior to administering CDL tests.
M. RECORDING AND AUDITING REQUIREMENTS
(1) An applicant who has successfully completed the driving skill tests shall be issued the "Colorado
CDL Driving Skill Test Completion" form (DR 2736). The testing unit will retain the carbon copy
of this form and attach it to all of the applicant's score form(s) for the testing unit's records. This
form is not authorization to the driver to drive unsupervised.
(2) The CDL Compliance Section shall be notified in writing after an applicant fails the road test
portion of the driving test. All failures shall be reported on the monthly report and testers shall fax
or send electronically the failed road test (front and back) score form to the CDL Compliance
Section no later than 5 p.m. of the following business day.
(3) The testing unit shall maintain all pass /fail records for three years. These will include the CDL
driving skill testing records for each driver tested, the dates of the testing, the applicant's
identification information, the vehicle information and the name and state assigned tester number
who administered the test. If a testing unit becomes unlicensed, the unit shall return all testing
records to the Department within 30 days.
(4) A testing unit shall prepare and submit a monthly report of testing results to the Department. The
report shall include: the unit's name, the unit's number, the name of each applicant tested, CDL
permit Number, endorsements (H, X, P), the length of time it took to administer the test (i.e. start
and completion time), and the pass /fail results. These reports shall be submitted to CDL
Compliance Section by the fifth day of each month
(a) After three years, testing units may destroy all pass/fail records (shred, burn).
(5) During CDL compliance audits and/or inspections, driving testers shall cooperate with the
Department and FMCSA, by allowing access to testing areas and routes, furnishing driving skill
testing records and results, and other items pertinent to the mandated inspection. The tester must
surrender testing records upon request. The tester may make copies and retain copies of such
records.
(6) If the testing unit provided the vehicle for the initial test, the testing unit will furnish the vehicle for
a driver selected for a retest. No fees, including any vehicle rental fees required for testing will be
collected for this mandatory evaluation. The Department shall not be held liable during retests for
any damage, injury or expense incurred.
(7) If the driver tested in his/her own vehicle, the driver selected shall supply the vehicle for the test.
(8) The testing unit will not be authorized to conduct any further testing if the CDL Compliance
Section determines that the testing unit is not cooperating with the audit requirements.
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N. BOND
(1) A testing unit that is not an agency of government, or any Colorado school district, shall maintain a
bond in the amount of $20,000.00 with the Department. A surety company authorized to do
business within the State of Colorado shall execute the bond.
(a) The bond shall be for the use and benefit of the Department in the event of a monetary
loss within the limitations of the bond, attributable to the willful, intentional or negligent
conduct of the testing unit or its agent(s) or employee(s).
(b) If the amount of the bond is decreased or terminated, or if there is a final judgment
outstanding on the bond, the testing unit's license shall be suspended. The suspension
shall continue until satisfactory steps are taken to restore the original amount of the bond
required by the Department.
(2) A testing unit that is an agency of government, or any Colorado school district, that will administer
CDL driving tests outside of their unit, shall maintain a bond in the amount of $5,000.00 with the
Department. A surety company authorized to do business within the State of Colorado shall execute
the bond.
(a) The bond shall be for the use and benefit of the Department in the event of a monetary
loss within the limitations of the bond, attributable to the willful, intentional or negligent
conduct of the testing unit or its agent(s) or employee(s).
(b) If the amount of the bond is decreased or terminated, or if there is a final judgment
outstanding on the bond, the testing unit's license shall be suspended. The suspension
shall continue until satisfactory steps are taken to restore the original amount of the bond
required by the Department.
O. ETHICAL REQUIREMENTS FOR THIRD PARTY TESTING UNITS
(1) No advertisement shall imply that a unit can issue or guarantee the issuance of a CDL.
(2) No advertisement shall imply that the unit has any influence over the Department in the issuance of
a license.
(3) No tester, employee, or agent for the testing unit will be permitted to solicit on the premise of a
Colorado State Driver License Office.
(4) No test can be administered unless the applicant is present.
(5) A fee cannot be collected unless an applicant is present.
P. REVOCATION, CANCELLATION OR SUSPENSION OF TESTING UNITS AND TESTERS.
(1) The license of a testing unit or driving tester may be suspended or revoked for willful or negligent
actions that may include but are not limited to any of the following:
(a) Misrepresentation on the application to be a testing unit or driving tester;
22
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(b) Improper testing and certification of an applicant who has applied for a CDL;
(c) Falsification of test documents or results;
(d) Violations of the provision of the CDL rules related to the testing unit and driving testers;
(e) Failure to employ a minimum of at least one licensed CDL tester;
(f) Willful action to avoid or the refusal to cooperate in a CDL Compliance audit and record
review; and
(g) Violations of the contract terms and conditions; and
(h) For cause.
(2) Summary Suspension: The Department may issue an immediate cease testing notice if it has
reasonable grounds to believe that a testing unit or driving tester has deliberately and willfully
violated the provisions of these rules or the law, or that the public health, safety or welfare
imperatively requires emergency action. The cease testing notice shall operate as a summary
suspension of the license, and testing shall not be permitted until the issue is resolved. The notice
shall state the reason(s) for the order, shall offer the tester or testing unit a hearing, and shall be sent
to the tester or testing unit at issue. If the tester or testing unit requests a hearing, proceedings for
suspension or revocation of the license shall be promptly instituted and determined.
(3) Appeal Process: A testing unit or driving tester may contest a cease testing notice, notice of
suspension or a notice of violation by requesting a hearing. The request must be submitted in
writing and appropriately labeled, such as "CDL Cease Testing Appeal," to the Department of
Revenue, Hearings Division, 1881 Pierce Street, Room 106, Lakewood, Colorado, 80214.
Subsequent appeal may be had as provided by law.
(4) Material incorporated by reference in this rule does not include later amendments to or editions of
the incorporated material. Copies of the material incorporated by reference may be obtained by
contacting the Division of Motor Vehicles, Division of MCS of the Department of Revenue, 1881
Pierce Street, Room 118, Lakewood, Colorado, 80214, 303 - 205 -5600, and copies of the materials
may be examined at any state publication depository library.
23
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Attachment A
LAND USE AUTHORIZATION
The land used for the purposes of driver skill testing not owned by the CDL Testing Unit shall require
written permission from the respective landlord or land owner on this form and submit to the CDL
Compliance Section for approval prior to driver skill testing.
This certification confirms that
Landowner (print)
is the property owner of the land located at:
Property address
This property will be used for the purposes of CDL driver skill testing and access to the testing area will
be granted to the CDL Compliance Section for inspection at any time.
grants permission to
Landowner (print) Landowner Representative (print)
for the purposes of
CDL Testing Unit name
administering the CDL driving skills test and State inspections.
Landowner Representative (signature) Phone # Date
This authorization expires on
(Date, if applicable)
For: CDL Compliance Section
24
12 -2 -24
Attachment B
Colorado Third Party Testing
Professional Code of Ethics
It shall be the guiding purpose and the individual duty of every licensed Third Party Testing unit and
Tester to:
RECOGNIZE that this is a position of highest public trust, and that many people depend upon the
wisdom of your decisions.
IMPARTIALLY administer all official duties without regard to race, gender, creed, national origin,
position or influence.
CONDUCT all examinations in a manner reflecting their importance to public safety.
SERVE the public with all possible promptness and courtesy.
REJECT all presents and favors from applicants or others relating to your official duties.
CONVEY only authorized information to the public.
SERVE people with disabilities in an impartial manner.
WORK only by official testing standards -- never substituting personal ideas for prescribed methods.
MAINTAIN professional appearance and demeanor.
INTERACT professionally with co- workers, supervisors, medical and vision specialists, and other
professionals.
MAINTAIN awareness of developments in the safety related field.
UPHOLD the honor and dignity of the profession, by reporting any fraudulent activities.
CARRY out all duties not specifically covered by this code with the safety and welfare of the public as
the controlling motive.
25
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Attachment C
OPTION LETTER No.
(Date) , Fiscal Year (`FY ")
In accordance with Section of the Contract dated (Contract Routing No.
) , between the State of Colorado, Department of Revenue, and
(CDL Testing Unit's Name), DOR
hereby exercises the option for an additional () year's performance period from
20_ through 20
State of Colorado:
Bill Ritter, Jr., Governor
By:
For the Executive Director
Colorado Department of Revenue
Date:
26
12 -2 -26
tr * /per / g
EXHIBIT A 7
Plaintiffs' Ownership Spreadsheet
Club Unit Total Number
Owner(s)
Number(s) Unit Weeks Owned of Unit Weeks
4-H Fami LLC Owned
222 2 & 25 2
Aldred, Peter Duncan 318A 6&7
Aldred, Caroline Louise 3188 6&7 4
Allie's Cabin LLC 407 5 6 7 8 30 & 31 6
Angel, Stephen F. 314A NY 7 26 27 & Xmas
Angel, Dolores W. 314B NY 7 26 27 & Xmas 10
Astralgus Office Pty Ltd as Trustee for the
Astral us Trust 407 11, 12, & 13 3
214 NY & 1
Aurora Investment LLC 227A NY & 1 6
227B NY & 1
Bafer LLC 218 6 & 13 2
Bausch Laverne Maree 108 1 & 2 2
Bergquist, Peter
ger i Sue Mo 503 8 & 9 2
Blatchley, Ron 310A 4 27 28 29 30
Blatchie`, Ruth A. 310B 4 27 28 29 30 10
Blum, Peter Gregory 310A 8 & 9
Blum, Diane Lindstadt 310B 8&9 4
Boca Terry, LLC 308 430, 31 3
Bommarito, Salvatore J.
Bommarito Alison Mass 404 NY & Xmas 2
Bond, Christopher J. 222 8 & 9 2
Bond Carol -Ann
Brink Cynthia W. 402 9 & 10 2
Brook, Paul
Fiorino Frances C. 308 2&3 2
Brown, Daniel 121A 11 & Xmas
Brown, Maria 121B 11 &Xmas 4
Bunting, Charles B. 222 11 & 12 2
Bunting, She
Campbell, Mark G. 311 8, 12, 47 3
Campbell, Martha J.
Canter, Ardour 503 30 & 31 2
Canter Jud
Casben Limited 218 5&9 2
Chasanoff , Sally 214 4 & 30 2
Churchill, Edward S. 311 4, 5, 6, 7, 9 & 10 6
Churchill JoAnn M.
Clark, Harry 405 NY, 8 & 9 3
Clark Katherine
Clark, Reid M. 427 10&11 2
Clark Betsy L.
Clay, Bruce J. 118 6&7 2
Clay, Debra A.
Coffman, Barry 312 6, 7, 11 3
Coffman Linda C.
Colon - Gerona, Jorge 310A NY & 1 4
Roddouez, Maria M. 3106 7r NY & 1
IR Doc # 2023509 1
r ,
EXHIBIT A
Plaintiffs' Ownership Spreadsheet
Club Unit
Owner(s) Total Number
Number(s) Unit Weeks Owned of Unit Weeks
Owned
Congdon, James
Congdon, Mary Alice 218 10 & 31 2
Covenant Equipment & Property, Ltd. 318A 8&9
Crank, Bethany 3188 8&9 4
Schickel, Ronald C. 214 10 & Xmas 2
Deanne Chambers Amended and Restated
Revocable Trust 407 10 & Xmas 2
Dobbin, Ross G.
Dobbin Patricia A. 311 2&3 2
Caporizzo, Thomas J.
Capporizzo, Jo-Ann
Dykes, James 222 27 & 28 2
Dykes, Carole
Emanuel, Eric R. 223A 11 &28
Emanuel, Jacqueline A. 223B 11 &28 4
Engleka, Millard F.
En leka Giselle 406 12 & Xmas 2
Fitzgerald, Brendan V.
Fitzgerald, Kathleen P. 224A 4, 5, 8, 9, & 12
Conway, David L. and Patricia A., Trustees of 10
the David L. Conway and Patricia A. Conway 2248 4, 5, 8, 9 & 12
1982 Inter Vivos Trust
Fleekop, Kenneth 214 6&7 2
Fleeko Deborah
Fosnaught, Nancy 503 4 & 11 2
Steinheiser, Chris
Davis, Nancy S.
FrAing, Robert G. i DECEASED 406 1, 30 & 31 3
Gast, John Jr.
Gast Zdenka 502 NY & Xmas 2
Gilbert, James A. 314A 8&9
Gilbert, Marie M. 314B 8&9 7
Goldman, Martin 406 27
Goldman Geor can 222 5 & 29 2
Gonzalez, Gerardo Zirion 108 13 & 14 2
Gordon, Debra T.
Gordon Michael A. 118 10&11 2
Heam, R. Anthony 118 2&9 2
Heam Monica McDonald
Hegarty, Connie 308 10 &Xmas 2
He a William
Heliox Capital Lt. 316 8 & Xmas 4
427 31 &32
Hennessy, John M. 404 12 & 13 2
Hoffman Tommy Z. 108 NY & 11 2
Honsberg, Alfred 223A 4,29 & 30
Cecilia Quintanilla 223B 4 29, & 30 6
IR Doc # 2023509 2
r
EXHIBIT A
Plaintiffs' Ownership Spreadsheet
Club Unit
Owner(s) Total Number
Number(s) Unit Weeks Owned of Unit Weeks
Jamieson Christina wed
402 23 & 24 2
Jeffer, Jill 214 2 & 14 2
John H. Hobart Trust 405 3 & Xmas 2
Koerte, Paula 223A 7 g & 9
Koerte, Ludwig 223B 7 8, & 9 6
Langeberg, Don Lee
Langebera Elaine Francis 118 12, 25, & 31 3
Lasky, Jerry 314A 28 & 29 4
Lavandero, Ricardo Garia 314B 28 & 29
Arrom Yamira Perz 503 NY & 10 2
Lessar, Troy
Lessar, Heather 427 6 & 26 2
Linakis, Greg
Linakis Paulette 405 5&6 2
Marino, Darren James 223A 2&10
Ewing, Patrick 223B 2&10 4
Mazin, George
Mazin Trudy 222 3&4 2
MB & Sons Inc. 121B NY & 1 2
McCoy, Keith 504A NY & Xmas
McCoy, Beck 504B NY &Xmas 4
McDonald, Kevin C.
McDonald Aramie 308 6&7 2
McVey- Fairchild Living Trust 315A 10 & 29 4
Miller, Jan 315B 10 & 29
Miller, Sharon D. 208 8&9 2
Miller, Robert
Miller Paige W. 506 2&9 2
Mogan, Glen, MD
M 222 1 & 7 2
Mogan, Diane
311 NY & 1
Moncor Trust 224A NY & 1 6
Mulhem, Lori 224B NY & 1
Mulhem Michael 317 NY & 26 2
Neborak, Michael K. 121A 6&10
4
121 B 6&10
Nesmari LLC 308 NY & 1 2
Niederauer, Duncan
Niederauer, Alison J. 405 1 10 & 11 3
Ocej Guillermo 214 8 & 13 2
Pearson, Alan 225A 7&8
Pearson, Leslie 225B 7&8 4
Perez, Noel 223A NY & 26
Perez, Lourdes Valdez 223B NY & 26 4
Perry, Timothy E. 407 NY & 32 2
Perry Heidi W.
IR Doc # 2023509 3
EXHIBIT A
Plaintiffs' Ownership Spreadsheet
Club Unit Total Number
Owner(s)
Number(s) Unit Weeks Owned of Unit Weeks
Own
Pi kin David 222 NY & Xmas 2 ad
PS Drummond Family Trust 218 1&2 5
Potylchansky, Yury 402 1, 2 3
Potylchansky, Elena 406 NY & 8 2
Puig, Raul
Pui , Elsa 218 3 & 12 2
Robert M. Co Jr. Revocable Trust 218 8 25 29 & 33 4
Robichaux, Amy L.
Robichaux T.D. 402 NY & 26 2
Rosenbloom, Jerald 321A 6 & Xmas
Sussman, Nan. M. 321B 6 & Xmas 4
Roski, Dudley 314A 10&11
Roski, Vicki 314B 10&11 4
Ruette LLC 406 5, 6,7 & 32 4
Schmid, William E.
Schmid Deborah A. 208 NY, 1 &2 3
Shah, Katie
Shah Dhiren 506 11 & 12 2
Shouviin, Margaret Martin 310A 10&11 4
Smitham, Lynne H. 3108 10&11
Smitham Peter 505 NY, 1, 2, 3, 49 & Xmas 6
Stachelek, Conrad
Stachelek Janet L. 403 10&11 2
314A 6
Stodghill Contracting LLC 314B 6 4
SVT Realty 403 6 &7 108 7 9 10 3
Toxey, Andrew G.
Toxey, Mario A. 208 3, 4, & 5 3
Tuttle, Kimberly
Bard ette John E. 214 3 & 31 2
Vaudreuil Sheila B. 402 4 & 12 2
Vamum, Nylsa Maria 427 NY & Xmas 2
VCVPC LLC 501 NY & Xmas 2
VP36 Realty Investment LLC 403 NY 1 26 & Xmas 4
Waka Lain 503 1&2 2
Waterfront Development LLC 114 NY & Xmas 2
Waterfront Estates Inc. 118 NY & 1 2
Wen S.Dunster Living Trust 114 6, 7 8 9, 10 & 11 6
Wheat, Doug
Wheat, Laura 405 7 2& 28 5
Wintervail LLC 503 6 & Xmas 2
Yoder, Merle E. 321A NY&I
Yoder, Nina H. 1 321 B NY & 1 4
TOTAL 336
IR Doc # 2023509 4