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Home My WebLink About2018-12-18 Agenda and Supporting Documentation Town Council Afternoon Meeting AgendaVAIL TOWN COUNCIL REGULAR MEETING Agenda Town Council Chambers 1:00 PM, December 18, 2018 TOWN Of 4IAJt Notes: Times of items are approximate, subject to change, and cannot be relied upon to determine what time Council will consider an item. Public comment on any agenda item may be solicited by the Town Council. 1. DRB / PEC Update 1.1. DRB / PEC Update 5 min. Presenter(s): Chris Neubecker, Planning Manager 2. Presentations / Discussion 2.1. Projected Review Process Timeline for Triumph Development Parcel Presenter(s): Matt Gennett, Community Development Director Action Requested of Council: Discussion only; no action requested. Background: At the November 20, 2018 Vail Town Council meeting, a request was made of staff to provide a predicted review process timeline for a development application for the parcel of land owned by Triumph Development located east of the Vail Mountain School. The attached staff memo summarizes a hypothetical review timeline should a development application be submitted for the subject property, located in the Employee Housing (EH) zone district, in mid-January 2019. Staff Recommendation: Staff is not making a recommendation as this is for discussion purposes only. 2.2. 2018 Update on Housing to the Vail Town Council - The purpose of this agenda item is to present the 2018 Annual Update on Housing from the Vail Local Housing Authority to the Vail Town Council. Presenter(s): Steve Lindstrom, Chair, Vail Local Housing Authority Action Requested of Council: No action is requested at this time. Background: Upon adoption of the Vail Housing 2027 Strategic Plan the Vail Town Council and Vail Local Housing Authority commited to a twice annual report summarizing progress made towards the adopted goal of acquiring 1,000 new deed -restrictions by the year 2027. This presentation is intended to fulfill that shared commitment. The last report to the Vail Town Council was in June of 2018. Staff Recommendation: As no action is being requested of the Town Council, staff is not forwarding a recommendation. 2.3. Stephens Park Play Area Renovation Presenter(s): Gregg Barrie, Vail Public Works Action Requested of Council: Review the staff memo, which outlines project components and goals and suggests a public process. Provide feedback to town staff. 30 min. 30 min. 15 min. December 18, 2018 - Page 1 of Background: The play area at Stephens Park is budgeted for renovations in 2019. This item is a brief discussion of the project components and process. Staff Recommendation: Staff recommends the Project Components, Project Goals/Givens, Public Process and the inclusion of Artistic Components as presented in the attached memorandum, subject to Town Council input and direction. 2.4. Ford Park Softball Weather Shelter Update and request an approval to negotiate a construction contract with RA Nelson, LLC. Presenter(s): Todd Oppenheimer, Capital Project Manager/Landscape Architect Action Requested of Council: Listen to presentation and direct the Town Manager to enter into negotiations with the contractor. Background: The two primary benefits to negotiating versus bidding the construction contract for the Ford Park Softball Shelter Project are an earlier completion date and the opportunity for more competitive subcontractor pricing. The projected completion date for the project can be accelerated by 5 to 6 weeks making it available for events scheduled in June and July including the King of the Mountain volleyball Tournament and LAX Shootout. 3. Information Update 3.1. VLHA December 11, 2018 Meeting Results 3.2. 2019 Vail Town Council Meeting Schedule 3.3. CSE draft meeting minutes from December 5, 2018 3.4. VEAC meeting minutes from December 11, 2018. 3.5. 3rd Quarter Investment Report 4. Matters from Mayor, Council and Committee Reports 5. Vail Local Marketing District 5.1. Vail Local Marketing District Interview and Appointments. See Separate Agenda. Presenter(s): Dave Chapin, Mayor 6. Executive Session 6.1. Executive Session, pursuant to: 1) C.R.S. §24-6-402(4)(a)(b)(e) - to discuss the purchase, acquisition, lease, transfer, or sale of property interests; to receive legal advice on specific legal questions; and to determine positions, develop a strategy and instruct negotiators, Regarding: Triumph Development Parcel, Chamonix Purchase and Vail App; and 2) C.R.S. §24-6-402(4)(e)(f) - to determine positions, develop a strategy and instruct negotiators to discuss personnel matters, Regarding: Personnel matters. Presenter(s): Matt Mire, Town Attorney 20 min 60 min. 100 min. December 18, 2018 - Page 2 of 7. Recess 7.1. Recess 5:15 p.m. (estimate) Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.vailgov.com. All town council meetings will be streamed live by High Five Access Media and available for public viewing as the meeting is happening. The meeting videos are also posted to High Five Access Media website the week following meeting day, www.highfivemedia.org. Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711. December 18, 2018 - Page 3 of VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: DRB / PEC Update PRESENTER(S): Chris Neubecker, Planning Manager ATTACHMENTS: Description December 5, 2018 DRB Meeting Results December 10, 2018 PEC Meeting Results TOWN OF 1 X41 December 18, 2018 - Page 4 of TOWN OF UAJt DESIGN REVIEW BOARD December 5, 2018, 3:00 PM Town Council Chambers 75 S. Frontage Road - Vail, Colorado, 81657 1. Call to Order 1.1. Attendance Present: John Rediker, Doug Cahill, David Campbell, Peter Cope, Bill Pierce Absent: None 2. Project Orientation 2.1. 2:00 PM 3. Site Visits 3.1. 4346 Spruce Way - Spaeth Residence 3.2. 1276 Westhaven Drive - Hotel Talisa 4. Main Agenda 4.1. DRB18-0570 - Spaeth Residence Final review of an addition Address/Legal Description: 4346 Spruce Way/Lot 6, Block 3, Bighorn Subdivision 3rd Addition Applicant: Courtney & Jonathan Spaeth, represented by Martin Manley Architects Planner: Erik Gates Doug Cahill moved to approve. David Campbell seconded the motion and it passed (5-0). 4.2. DRB18-0571 - Vail Hotel Partners LLC Final review of an exterior alteration (ice rink/yurts) Address/Legal Description: 1300 Westhaven Drive/Cascade Village - Vail Cascade Resort Applicant: Vail Hotel Partners LLC, represented by Mauriello Planning Group Planner: Chris Neubecker 1. Ice rink and yurt shall be removed by April 15, 2019. Doug Cahill moved to approve with conditions. David Campbell seconded the motion and it passed (5-0). December 18, 2018 - Page 5 of 4.3. Flat Roofs & Parapet Walls - Work Session Planner: Ashley Clark Ashley Clark presented a PowerPoint presentation to the Board and reviewed the existing town code relating to roof slopes, parapets, and height regulations. The presentation also reviewed how surrounding communities regulate similar elements. The Board then discussed the regulations for height requirements and discussed whether or not parapets should be included in the total height requirement. The Board also discussed the literal interpretation of flat roof versus sloping roof and ruminated on what the intention was in creating two separate height allowances. The Board requested that staff return with additional information regarding flat versus sloping roofs to include photos to inform a subsequent discussion. 5. Staff Approvals 5.1. DRB18-0523 - Nunez Residence Final review of a tree removal Address/Legal Description: 1457 Vail Valley Drive/Lot 8, Block 3, Vail Valley Filing 1 Applicant: Deborah Nunez Living Trust, represented by Brush Creek Landscaping Planner: Erik Gates 5.2. DRB18-0524 - Pinos del Norte Condominiums Final review of a tree removal Address/Legal Description: 600 Vail Valley Drive/Tract B, Vail Village Filing 7 Applicant: Pinos del Norte, represented by Brush Creek Landscaping Planner: Erik Gates 5.3. DRB18-0535 - Alpenrose Final review of an exterior alteration (deck/windows) Address/Legal Description: 100 East Meadow Drive Unit 25 / Lot 0, Block 5D, Vail Village Filing 1 Applicant: Nico Vail Inc., represented by Rocky Mountain Construction Group Planner: Jonathan Spence 5.4. DRB18-0567 - Mallinckrodt Residence Final review of an exterior alteration (hot tub) Address/Legal Description: 123 Beaver Dam Road/Lot 36, Block 7, Vail Village Filing 1 Applicant: Elizabeth Mallinckrodt U/I/T, represented by Maximum Comfort Pool & Spa December 18, 2018 - Page 6 of Planner: Erik Gates 5.5. DRB18-0572 - AJW Properties 11 LLC Final review of a sign Address/Legal Description: 100 East Meadow Drive Unit 22/Lot 0, Block 5D, Vail Village Filing 1 Applicant: AJW Properties II LLC, represented by Current Architects Planner: Jonathan Spence 5.6. DRB18-0575 - Schacht Residence Final review of a change to approved plans (vent) Address/Legal Description: 1800 Sierra Trail/Lot 25, Vail Village West Filing 1 Applicant: Robert Schacht, represented by Current Architects Planner: Chris Neubecker The applications and information about the proposals are available for public inspection during regular office hours at the Town of Vail Community Development Department, 75 South Frontage Road. The public is invited to attend the project orientation and the site visits that precede the public hearing in the Town of Vail Town Council Chambers. Times and order of items are approximate, subject to change, and cannot be relied upon to determine at what time the Design Review Board will consider an item. Please call 970-479-2138 for additional information. Sign language interpretation available upon request with 24-hour notification, dial 711. December 18, 2018 - Page 7 of PLANNING AND ENVIRONMENTAL COMMISSION TOWN OF,,,c9 December 10, 2018, 1:00 PM Town Council Chambers 75 S. Frontage Road - Vail, Colorado, 81657 1. Call to Order 1.1. Attendance Present: Ludwig Kurz, Pam Hopkins, John Ryan Lockman, Brian Stockmar, Karen Perez, Rollie Kjesbo, Brian Gillette Absent: None 2. Informational Update 2.1. A brief update and discussion on the community recycling rate and progress towards waste diversion goals in the 2009 Environmental Sustainability Strategic Plan. Applicant: Planner: Mark Hoblitzell Mark Hoblitzell provided an update and compared Vail's recycling rates with other communities. He discussed legislation in Vail requiring recycling, and trash rates to encourage higher levels of recycling. Plastic bag ban was adopted in 2016. About 4 million plastic bags per year were being distributed by local (2) grocery stores at the time. They now use about 300,000 paper bags each year- fee returns from the program fund the hard to recycle collection events. Hoblitzell discussed the public outreach and media campaign. He discussed the message to the community on the inability to recycle wrapping and tissue paper. He discussed special collection events held each year on recycling. He mentioned requirements for requiring recycle bins near trash canisters, and discussed the business recycling challenge. He mentioned the Eagle County Waste Wizard, where people can find out how to best recycle various materials. Website will provide location where recycling of various materials can be dropped off. Recycling rates were reviewed, including residential, business and Town of Vail municipal waste. In 2018, the recycling rate is 23%. Stockmar — How are you accounting for people who drop off at recycling centers, vs at home? Hoblitzell — Recycling rates account for tonnages at the hauler and landfill side so all material is included where participation rates look at who is putting out a recycling can or has recycling infrastructure. Stockmar — Who is not recycling? Hoblitzell — Bigger challenge is to get people to recycle properly. Most people have some type of recycling can or access to recycling. Seasonal 30 Min. December 18, 2018 - Page 8 of residents have a struggle to manage costs associated with waste hauling. Hoblitzell reviewed recycling participation rates. About 72% of properties have recycling bins out on trash day. About 28% only place trash bins at curb. Multi family participation rate is 94% and commercial about 95% participation rates. Food waste is a large portion of the weight. Vail Honeywagon now has a commercial compost facility. Stockmar — Is it true that only plastics #1 and #2 are recycled? Hoblitzell - We can still recycle #1- #7 at through all channels locally. Commodity markets for #3 - #7 are challenging and often times recyclers are paying for that material to be recycled. We have a good recycler in the Front Range that most of our material goes to, but many communities do not have a market for their recycling materials. Hoblitzell reviewed community events- We are up to 19 tons for paper shredding, hazardous material and electronic household waste at our community recycling events from 16 tons in 2017 and 12 tons in 2016. County -wide we have opportunities to recycle up to 80% of waste. County recycling rates were presented, which were 22.2% in 2017. Construction and demolition material brings this number down when looking at total diversion rates. Hoblitzell reviewed statewide conditions. Colorado is at 12% waste diversion statewide, vs 35% at the national level. There is a strong need for statewide data collection. Mountain resort communities are leading the state in recycling rates. Pitkin and Summit Counties have higher recycling rates than Vail or Eagle County. He discussed recycling goals from the Sustainability Plan. Opportunities exist in Composting opportunities, and construction waste. Stockmar — How can this commission help? Kurz — Surprised at the Colorado recycling rates. Surprised we are far behind national rates. Why is this? Hoblitzell — We have some bright spots in Boulder, Fort Collins, Aspen, Summit County and Eagle County. Many communities do not have the infrastructure for recycling. Creating more markets to use the recycled material would be helpful. We have a closed loop glass market, with reuse in the brewing industry. Gaps are in infrastructure. Gillette — May be based on the population density of the states. Hoblitzell — Yes, to some degree. However, costs to landfill material are still low in Colorado due to general landfill space availability. Hopkins — Are visitors an issue? Hoblitzell— They can be. Education can be a challenge to visitors based on different materials may be recyclable in their home community, but generally guests are knowledgeable about recycling. Staff worked together on the launch of the short term rental program to ensure that guest properties received proper recycling information and educational materials to help address this gap December 18, 2018 - Page 9 of Lockman — Ordinance on recycling — I have seen trash and recycling costs go up significantly ion the past year. How do we help the community to afford trash and recycling costs? We should consider municipal hauling contracts. Stockmar — We should make a motion asking the Town Council to reconsider municipal hauling. Gillette — Which communities have higher recycling? Hoblitzell discussed some communities that require trash and recycling be brought to the Eagle County landfill. Challenges with leveraging the variable rate structure: specifically local property owners instead of haulers own the cans, and the costs associated with wildlife proof cans vs traditional cans and varying levels of compliance on wildlife resistant cans for recyclable materials . Lockman — Do haulers need to offer information on variable rates and size cans? Hoblitzell — Haulers are required to submit pricing to the Town annually. Most people are not fully leveraging the variable size based rates. Now it takes about 2 years to recover the cost of switching to a new, smaller can. Finding an average rate has been a challenge, as often times rates vary from customer to customer depending on how long they have had service. Lockman — In 2014 we passed a recycling ordinance. We should encourage Town to find solutions to promote volume based pricing. If people knew the costs, they would participate. Anything the Town of Vail can do in order to promote volume based pricing would be helpful. Lack of education is holding people back. Hoblitzell — Staff has applied for a state grant to launch a bin exchange program to help residents leverage the rate structures. The price for service is based on size of the trash bin, not size of recycling bin. A smaller trash can lead to lower costs. Hopkins —A neighbor of mine was not aware that pine beetle was a big problem, after living there for 40 years. Similarly, people may not know about recycling. Provide a list to include in the annual invoice for service, to educate property owners. Hoblitzell — Haulers are required to provide new stickers on the bins on which materials are recyclable. Waster Wizard is new in the past month and is a great tool. Gillette - Problem is that people recycle things they should not. They try to recycle too much stuff that should be trash. Lockman — Please discuss new developments, and requirements for space for recycling. Hoblitzell — Title 14, Vail Town Code, has one sentence on requiring adequate trash storage. But "adequate" is not defined. The code does not mention space requirements for recycling. Lockman — What does staff recommend to address this issue? December 18, 2018 - Page 10 0 Hoblitzell — Staff is discussing options to modify this code language. Some communities have design guidelines for trash and recycling, including size, volume, access, ceiling height for truck clearance, etc. Gillette — We have good participation rates, but low diversion rates. That's where we should focus our efforts. Hoblitzell — We are no looking inside the bins, due to safety and privacy concerns. We have small collection facilities in certain areas of town, and bins fill up quickly. Participation rates only reflect if there is a recycling bin and trash bin not the size or utilization. Much of our education outreach is based on a complaints or specific requests for help and assistance. Perez — Will you return to the PEC with more information and answers to some of our questions? Hoblitzell — We will return with more information. We would like the board to identify the priorities for more information from staff. Gillette — Should we have an exchange program for trash and recycling cans; what should I do if I no longer need my large tote? Hoblitzell — Staff has applied for a state grant to fund a bin exchange program and is waiting information on the award. There is a need for cans in the community is reasonably easy to re -sell or give away through classified or social media channels Lockman — Haulers do not have incentives to offer smaller cans, with less revenue. Town Council should look into municipal hauling contract to improve service, remove heavy vehicles from roadways, and manage costs. Kjesbo — Would single streaming promote more recycling? Hoblitzell — Honeywagon and Waste Management both have single stream recycling which heads to Denver. County drop sites are sent to Eagle County which is dual -stream. In a strong market, haulers have incentive to drive to Denver to sell the commodity as recycling centers pay, but the county recycling center does not charge tipping fees or pay for material. In a weak market, haulers have more incentive to take material to Eagle County facility as they do not need to pay Hoblitzell closed the discussion: Staff will return to the Commission to discuss the following topics per request form the PEC- Education efforts and opportunities, design standards for waste storage areas, current utilization of volume based pricing and participation vs. recycling rates, and provide more information on municipal hauling. 3. Main Agenda 3.1. A request for a recommendation to the Vail Town Council for a Prescribed 5 min. Regulations Amendment, pursuant to Section 12-3-7, Amendment, Vail Town Code, to amend Section 14-10-5, Building Materials and Design, Vail Town Code, and Section 14-10-8, Landscaping, Drainage and Erosion Control, Vail Town Code, relating to wildfire protection and the proposed adoption of the International Wildland Urban Interface Code, and setting forth details in December 18, 2018 - Page 11 0 regard thereto. (PEC 18-0035) The applicant has requested this item be tabled to the January 14, 2019 regularly scheduled meeting of the Planning and Environmental Commission. Applicant: Vail Fire & Emergency Services Planner: Chris Neubecker Brian Gillette moved to table to January 14, 2019. Ludwig Kurz seconded the motion and it passed (7-0). 3.2. A request for a recommendation to the Vail Town Council for a Prescribed Regulations Amendment pursuant to Section 12-3-7, Amendment, Vail Town Code, to amend Section 12-23-3, Employee Generation and Mitigation Rates, Vail Town Code, for consistency with changes adopted by Town Council in Ordinance 12, Series of 2017. (PEC18-0040) Applicant: Town of Vail Planner: Ashley Clark Clark - This is an Administrative matter. Staff found an inconsistency between the rate adopted in 2017 with the existing example in the code. Stockmar — I see no questions Public Comment — None Brian Gillette moved to recommendation of approval. Ludwig Kurz seconded the motion and it passed (7-0). 4. Approval of Minutes 4.1. November 26, 2018 PEC Results Ludwig Kurz moved to approve. Karen Perez seconded the motion and it passed (5-0). Abstain: (2) Gillette, Kjesbo 5. Adjournment Karen Perez moved to adjourn. Ludwig Kurz seconded the motion and it passed (7-0). The applications and information about the proposals are available for public inspection during regular office hours at the Town of Vail Community Development Department, 75 South Frontage Road. The public is invited to attend the project orientation and the site visits that precede the public hearing in the Town of Vail Community Development Department. Times and order of items are approximate, subject to change, and cannot be relied upon to determine at what time the Planning and Environmental Commission will consider an item. Please call (970) 479-2138 for additional information. Please call 711 for sign language interpretation 48 hour prior to meeting time. Community Development Department 10 min. December 18, 2018 - Page 12 0 TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Projected Review Process Timeline for Triumph Development Parcel PRESENTER(S): Matt Gennett, Community Development Director ACTION REQUESTED OF COUNCIL: Discussion only; no action requested. BACKGROUND: At the November 20, 2018 Vail Town Council meeting, a request was made of staff to provide a predicted review process timeline for a development application for the parcel of land owned by Triumph Development located east of the Vail Mountain School. The attached staff memo summarizes a hypothetical review timeline should a development application be submitted for the subject property, located in the Employee Housing (EH) zone district, in mid-January 2019. STAFF RECOMMENDATION: Staff is not making a recommendation as this is for discussion purposes only. ATTACHMENTS: Description Memo Triumph Development Parcel December 18, 2018 - Page 13 0 TOWN OF VAIL. Memorandum To: Vail Town Council From: Matt Gennett, Community Development Director Date: December 18, 2018 Subject: Development Review Process Timeline for Triumph Development Parcel I. INTRODUCTION At the November 20, 2018 Vail Town Council meeting, a request was made of staff to provide a predicted review process timeline process for a development application for the parcel of land owned by Triumph Development located east of the Vail Mountain School. The following summary outlines a possible review timeline with some stated assumptions built-in and is not intended to be exact or in any way binding to the Town or potential applicants. II. SUMMARY Planning and Environmental Commission Should an application for development on the subject parcel be submitted in mid- January, and all of the required materials are deemed complete and sufficient by staff, a hearing before the Planning and Environmental Commission (PEC) will be scheduled no more than 30 days from the date of application submittal. Assuming this occurs, the first meeting before the PEC would likely be on either February 11 or February 25, 2019, depending on the exact date(s) of application submittal and formal acceptance. Given the scale of the anticipated proposed development and the complexities of the development site, staff anticipates the potential application may be required to return with modifications to the PEC for at least one and possibly two additional meetings. Depending on the types of modifications to the application required by the PEC and the time it may take the applicant team to make the necessary changes to the plans, the entire PEC process could take up to three months. Additionally, given the natural qualities of the site, including winter range for Bighorn Sheep and the existence of wetlands, an Environmental Impact Report (EIR) is required for this property pursuant to Chapter 12, Environmental Impact Reports, Vail Municipal Code. Sections 12-12-4 and 12-12-5 of this chapter specify the requirements for the studies and data required as well as the report contents. Upon submittal, the Planning and Environmental Sustainability staff will make a determination of completeness and December 18, 2018 - Page 14 0 adequacy of the EIR, which could involve the requirement for additional information and thereby add additional time to the anticipated review process timeline. Design Review Board Assuming the anticipated application receives approval from the PEC, the applicants would then need to make an application to the Design Review Board (DRB). The DRB meets the first and third Wednesday of each month. If the PEC grants approval on April 22, 2019, given the PEC process outlined above, the applicants could make an application to the DRB on April 23, 2019. Staff would anticipate the necessity of at least three meetings with the DRB for the anticipated project, which could entail significant revisions to the proposed plans and again require adequate time for the applicants to make the necessary modifications. Given the assumptions outlined above, the anticipated application could receive DRB approval by June 19, or July 3, 2019, or at a later date, depending on a number of variables that could arise throughout the process. Town of Vail Page 2 December 18, 2018 - Page 15 0 TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: 2018 Update on Housing to the Vail Town Council - The purpose of this agenda item is to present the 2018 Annual Update on Housing from the Vail Local Housing Authority to the Vail Town Council. PRESENTER(S): Steve Lindstrom, Chair, Vail Local Housing Authority ACTION REQUESTED OF COUNCIL: No action is requested at this time. BACKGROUND: Upon adoption of the Vail Housing 2027 Strategic Plan the Vail Town Council and Vail Local Housing Authority commited to a twice annual report summarizing progress made towards the adopted goal of acquiring 1,000 new deed -restrictions by the year 2027. This presentation is intended to fulfill that shared commitment. The last report to the Vail Town Council was in June of 2018. STAFF RECOMMENDATION: As no action is being requested of the Town Council, staff is not forwarding a recommendation. ATTACHMENTS: Description Staff Memorandum December 18, 2018 - Page 16 0 TOWN OF VAIIL. Memorandum To: Vail Town Council From: Vail Local Housing Authority Date: December 18, 2018 Re: 2018 Annual Update on Housing I. Purpose The purpose of this agenda item is to present the 2018 Annual Update on Housing from the Vail Local Housing Authority to the Vail Town Council. This item furthers the many goals, initiatives and priorities of the Vail Town Council Action Plan 2018 -2020 and advances the performance measures prescribed in the Vail Housing 2027 Strategic Plan. II. Topics to be Covered • 2018 Housing Accomplishments • 2019 Initiatives and Actions • Vail InDEED Program Numbers, Statistics, and Selection Criteria • Progress Towards the Goal III. 2018 Housing Accomplishments Completed Actions Identified in the Vail Housing 2027 Strategic Plan: Deed Restriction Acquisition • Establish deed -restriction acquisition criteria — completed • Engage with mortgage lenders and title companies to develop mutually acceptable deed -restriction language — completed • Collaborate with the Valley Home Store and the Vail Board of Realtors to market and communicate the Town's interest in acquiring deed -restrictions — completed • Evaluate dedicated deed -restriction acquisition revenue sources to ensure adequate funding exists — ongoing (in 2019 VLHA budget) • Organized and implemented the newly created Vail InDEED program December 18, 2018 - Page 17 0 • Facilitated the acquisition of a total of 107 new deed -restrictions in 2018 and growing Land Use Tools • Establish a Not Net Loss of Deed -Restrictions Policy — completed • Create a Housing Overlay District that allows for increased density — ongoing • Evaluate the effectiveness of the EHU Exchange Program and make adjustments as needed — ongoing • Update the 2007 Rational Nexus Study — completed • Amend the fee in lieu calculation to represent cost of construction — ongoing Performance Measurements • Update existing deed -restricted property data base — ongoing (in 2019 budget) • Prepare twice annual reports summarizing progress towards the adopted goal - completed • Maintain complete and accurate newly acquired deed -restriction data - ongoing Completed Actions Identified in the Vail Town Council 2018 -2020 Action Plan: • Lead the process for the adoption of Resolution No. 30, Series of 2018, Housing Policy Statements - completed • Negotiated the Solar Vail Deed Restriction Acquisition - completed • Regional Partnerships and Collaboration — o Initiated and facilitated the successful acquisition of 36 (23 ToV) deed - restrictions with 6 West Apartments and Eagle County - completed • Drafted letter to CDOT requesting partnership in the creation of resident - occupied housing within the Eagle River Valley - completed • Lead the final creation and sale of Chamonix Vail Parcel D resulting in more than $975,000 of net proceeds and value to the Town of Vail. • Adopted an updated and improved housing lottery selection process resulting in increased participation, increased efficiencies and alignment with the 2018 Housing Policy Statements. • Lead and completed the West Middle Creek Site Feasibility Study — completed • Convened the Vail Housing Subcommittee — ongoing • Final completion of the Chamonix Vail Neighborhood development - completed IV. 2019 Initiatives and Actions The following actions and initiatives were taken from the Vail Town Council Action Plan 2018 — 2020 and the Vail Housing 2027 Strategic Plan: • Vail InDEED program implementations and acquisitions - $2.5M funded Town of Vail Page 2 December 18, 2018 - Page 18 0 • Evaluate dedicated deed -restriction acquisition revenue sources to ensure adequate funding exists — $10K funded by VLHA • Update existing deed -restricted property data base — $10K funded • Update and amend the fee in lieu calculation to represent cost of construction — in-house • Create a Housing Overlay District that allows for increased density — in- house • Evaluate the effectiveness of the EHU Exchange Program and make adjustments as needed — in-house • Evaluate potential housing development sites within the Town of Vail and down valley — in-house • Update the 2012 Economic Value of Employee Housing with the Town of Vail Report - $15K funded by VLHA • Prepare an Environmental Impact of Resident -Occupied Homes within the Town of Vail Report - $15K funded by VLHA • Breaking Down Barriers for Private -Sector Investment in Resident - Occupied Housing Report — in-house • Implementation and advancement of the 2018 Housing Policy Statements - ongoing V. Vail InDEED by the Numbers (2017/2018) The following figures summarize the results of the Town of Vail's investment in the Vail InDEED Program for the years 2017/2018. Total Transactions Completed: 21 Total Number of Homes Deed -Restricted: 105 Total Number of Beds: 147 77 — one's 16 — two's 10 — three's 2 — four's Total Square Feet of GRFA: 79,704 Total Land Area Deed -Restriction: 101.5 acres Average Cost per Deed -Restriction: $62,654.76 Average Cost per Square Foot: $82.53 Lowest/Highest Cost per Square Foot: $40/$133 Total Dollar Amount Invested to Date: $6,578,750.00 ($3.25M housing fund/$3.25 ToV appropriation) Total Dollar Amount Funded for Investment in 2019: $2,500,000.00 Town of Vail Page 3 December 18, 2018 - Page 19 0 Estimated Total Number of Vail Residents Provided Housing: 197 VI. Vail InDEED Selection Criteria Resolution No. 35, Series of 2016, appointed the Vail Local Housing Authority as the Town's agent to negotiate and purchase deed -restrictions on the Town's behalf. In doing, Town Council granted agency to Housing Authority to make, enter into, and execute purchase and sale agreements and expend the Town's housing funds, as necessary, to implement and achieve the objectives of the Vail InDEED program and Town's housing goal. Vail InDEED deed -restriction acquisitions are ratified by the Vail Town Council. The following criteria and findings were adopted and shall be used by the VLHA when determining whether to acquire a deed -restriction on the Town's behalf: • Supports and maintains a permanent year-round resident population that grows a diverse community where a wide range of demographics, economics, occupations and family household sizes are served. • Furthers the goal adopted in the Vail Housing 2027 Strategic Plan • Consistent with the housing policies adopted by the Vail Town Council for the acquisition of deed restrictions for resident housing • Demonstrated demand exists within the resident housing market for the type of residential product (studio, flat, townhome, duplex, single family, etc.) that is to be deed restricted • Fulfills a demonstrated need within a defined segment (i.e. for rent, for sale, owner occupied, etc.) of the residential property market. • Demonstrates a quantifiable return on investment based upon the conclusions of the Economic Value of the Town's Investment in Employee Housing Report, prepared by BBC, dated March 12, 2012 • The market value of the deed restriction is comparable in value to other existing deed restrictions within the community as demonstrated by a licensed real estate appraiser • Most cost effective and efficient use of the Town's limited supply of financial resources • Fair market value is paid for the deed restriction relative to current market conditions (i.e. supply & demand) • A transaction cap of $200,000 per dwelling unit to be deed restricted Every Vail InDEED application is evaluated and reviewed against these criteria and others. Other considerations may include, as necessary: • Comparable sales • Physical condition of the property • Financial condition of the owners' association Town of Vail Page 4 December 18, 2018 - Page 20 0 VII. Progress Towards the Goal The Vail Housing 2027 Strategic Plan adopted a goal of acquiring 1,000 new deed - restrictions by the year 2027. At the time of adoption, 698 deed -restrictions were recorded on properties within the Town of Vail. As of December, 2018, the Town of Vail, in collaboration with the Vail Local Housing Authority, has increased the total number of recorded deed -restrictions to 837. As a result of entitlements granted during that time period, an additional 117 deed -restriction obligations are pending. These figures do not include obligations required of the Phase II of the Vail Health redevelopment or potential obligations resulting from the rezoning of the East Vail Parcel to the Housing Zone District. Town of Vail Page 5 December 18, 2018 - Page 21 0 TOWN OF 1 X41 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Stephens Park Play Area Renovation PRESENTER(S): Gregg Barrie, Vail Public Works ACTION REQUESTED OF COUNCIL: Review the staff memo, which outlines project components and goals and suggests a public process. Provide feedback to town staff. BACKGROUND: The play area at Stephens Park is budgeted for renovations in 2019. This item is a brief discussion of the project components and process. STAFF RECOMMENDATION: Staff recommends the Project Components, Project Goals/Givens, Public Process and the inclusion of Artistic Components as presented in the attached memorandum, subject to Town Council input and direction. ATTACHMENTS: Description Staff Memorandum December 18, 2018 - Page 22 0 TOWN OF VAIIL. Memorandum To: Vail Town Council From: Department of Public Works Date: December 18, 2018 Subject: Stephens Park Play Area Renovation I. PURPOSE The children's play area in Stephens Park is budgeted for renovation work in 2019. The purpose of this item is to define project components and goals, propose a public process and discuss any potential Town Council issues and concerns in regards to the project. 11. BACKGROUND The play area in Stephens Park consists of two wooden play structures and a set of swings. One structure and half the swing set are designed for ages 2-5 (Tot) and the larger structure and other half of swing set are designed for ages 5-12 (School-age), consistent with current playground safety guidelines. The components were constructed by Town of Vail crews in the mid -1990's after a fire destroyed the original structures. They are typical of Vail's 1970-90's custom play areas in that they are wooden, post and platform structures with steel/plastic climbers and slides purchased from a catalog. The structures were retrofitted in 2004 to generally meet current playground safety guidelines. However, the structures and play area are deficient in several areas: • The play area does not meet ADA standards • There is limited play value to the structures and equipment • At nearly 25 years old, the slides and climbers are reaching the end of their useful life and should be replaced Additionally, over the past 20 years, the town has worked to integrate art into its playgrounds. This program has resulted in unique, whimsical play areas that have become the signature of Vail's parks. The Stephens Park plat area does not currently include artistic elements. December 18, 2018 - Page 23 0 III. ANTICIPATED PROJECT COMPONENTS At this time, staff is anticipating the following general project components: School-age structure • Renovate the School-age structure to improve play value, access and circulation • Reuse existing structure components to the extent possible (posts, roof, etc) • Replace all play components (slides, climbers, etc) • Ensure ADA accessibility • Add ground -level play components to the School-age area Tot structure • Ensure structural integrity of the existing structure • Replace any worn-out play components. Some components were replaced during 2004 updates • Evaluate potential for improved play function • Ensure ADA accessibility • Add ground -level play components to the Tot area Site Work • Improve circulation routes to ensure ADA accessibility • Enlarge play area "use zones" if needed • Evaluate surfacing • Evaluate other site components such as landscaping/irrigation, shade, site furnishings, walkways, walls, etc. Artistic Elements • Work with AIPP to include an artist on the design team • Incorporate art into the play structures, individual play elements and/or site elements IV. SUGGESTED GOALS/GIVENS The renovation of the play area should accomplish the following goals: • Provide an innovative play area consistent with Vail's other neighborhood parks • To the extent possible, reuse existing structures and components while still improving the existing play experience • The play area shall meet current playground safety guidelines and ADA standards • A simplified public process will be used to solicit input from residents • Include artistic element(s) as either play structures, play components and/or site elements. Work with the Art in Public Places program towards this goal. Town of Vail Page 2 December 18, 2018 - Page 24 0 V. PUBLIC PROCESS It is anticipated that this project will be a renovation/update as opposed to a full rebuild of the play area. With this in mind, staff would recommend a simplified public process to solicit input from interested residents. The suggested process would use newspaper, email and the town's website to inform Vail residents that the town is planning renovations to the play area. These approaches will provide opportunities for residents to contact designers with thoughts, ideas and concerns. Once a project concept has been developed, it will be presented in the spring for further public input. VI. ARTISTIC COMPONENTS Vail's parks and play areas include a variety of artistic components including site elements such as the fencing at Donovan Park, play pieces like the stone ptarmigans at Ford Park, and even full play structures like "Playing with Giants" at Red Sandstone Park and the ship at Pirateship Park. The intergrated art adds creativity and uniqueness that make Vail's play areas a highlight for residents and guests. Staff suggests continuing this program with the Stephens Park renovation through collaboration with Art in Public Places. As with other parks, art could be included as a site element, a stand-alone play piece or included with the play structure renovation. VII. SCHEDULE • Establish project criteria with Town Council • Initial public process through various media outlets • Design concepts and AIPP collaboration • Present design concepts to Town Council • Design Review Board Concept Review • Final Design, DRB, Engineering, CD package • Construction VIII. BUDGET The 2019 budget for this project is $300,000. IX. STAFF RECOMMENDATIONS December 18, 2018 January 2019 January -February March 19, 2019 March 20, 2019 April -June August -October 2019 Staff recommends the above referenced Project Components, Project Goals/Givens, Public Process and the inclusion of Artistic Components, subject to Town Council input and direction. X. ACTION REQUESTED BY COUNCIL Staff requests feedback from the Council in regards to the recommended Project Components, Project Goals/Givens, the Public Process and the inclusion of art. Attachments: Attachment A Town of Vail Photos of existing Stephens Park play area Page 3 December 18, 2018 - Page 25 0 Above: Existing School-age structure Below: School-age structure (foreground) Tot structure (background) Town of Vail Page 4 December 18, 2018 - Page 26 0 TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Ford Park Softball Weather Shelter Update and request an approval to negotiate a construction contract with RA Nelson, LLC. PRESENTER(S): Todd Oppenheimer, Capital Project Manager/Landscape Architect ACTION REQUESTED OF COUNCIL: Listen to presentation and direct the Town Manager to enter into negotiations with the contractor. BACKGROUND: The two primary benefits to negotiating versus bidding the construction contract for the Ford Park Softball Shelter Project are an earlier completion date and the opportunity for more competitive subcontractor pricing. The projected completion date for the project can be accelerated by 5 to 6 weeks making it available for events scheduled in June and July including the King of the Mountain volleyball Tournament and LAX Shootout. ATTACHMENTS: Description Memorandum and images December 18, 2018 - Page 27 0 TOWN OF VAIL' Memorandum TO: Vail Town Council FROM: Department of Public Works DATE: December 18, 2018 SUBJECT: Ford Park Softball Weather Shelter I. PURPOSE The purpose of this presentation and discussion is to provide the Council with an update on the Ford Park Softball Weather Shelter and request an approval to negotiate a construction contract with RA Nelson, LLC. II. BACKGROUND The Ford Park Softball Weather Shelter Project is included in the 2019 RETT Capital Project Budget for $585K. Zehren Architecture has completed schematic design of the shelter and the design has been approved by the DRB. Please see the attached images. The requested budget for the project was based on a Schematic Design level construction cost estimate provided by RA Nelson. There is a desire to have shelter available for use summer 2019 and minimize disruption to scheduled events at Ford Park. The following rationale is provided for the Council's consideration in regards to the request to negotiate a construction contract. III. REQUEST TO NEGOTIATE The two primary benefits to negotiating versus bidding the construction contract for the Ford Park Softball Shelter Project are an earlier completion date and the opportunity for more competitive subcontractor pricing. With the approval of the 2019 budget on December 4, production of construction documents for the project were able to move beyond current schematic design phase. Construction documents for bidding can not be available until February 8 for pricing by contractors. The earliest bid date possible is March lwith a projected Town Council contract award on March 18. Assuming a Notice to Proceed can be issued on March 19 the structural steel would not be available until May 1 with final completion of the project in late July or early August. A March bid date affects the general contractor's ability to procure competitive pricing from subcontractors. By that time many subcontractors have already lined up work for summer months resulting in less competitive pricing from a smaller pool of available subcontractors. With a negotiated contract the general contractor can procure structural steel earlier and secure competitive pricing and commitments from subcontractors earlier in the process. The General Contractor can also provide input and value engineering to the architects and engineers during the design process to control construction costs. The projected completion date for the project can be accelerated by 5 to 6 weeks making it available for events scheduled in June and July December 18, 2018 - Page 28 0 including the King of the Mountain volleyball Tournament and LAX Shootout. With negotiated contracts and preconstruction services RA Nelson maintains a track record of final construction pricing being plus or minus 5% of the price at design development. RA Nelson has extensive experience on Town of Vail projects including construction of multiple phases of Ford Park and Booth Creek Park and is currently contracted with VRD for construction of 2 projects on the Vail Golf Course. IV. ACTION REQUESTED Council is requested to review the information provided in this memorandum and direct the Town Manger to enter into contract negotiations with RA Nelson, LLC for the construction of the Ford Park Softball Weather Shelter. Award of the construction contract would be brought back at a later date for approval. V. STAFF RECOMMENDATION Staff recommends the Council direct the Town Manger to enter into contract negotiations with RA Nelson, LLC. for the construction of the Ford Park Softball Weather Shelter. 2 December 18, 2018 - Page 29 0 AERIAL 1 EXISTING CONDITIONS NTS December 18, 2018 - Page 30 of 54 SOUTH ELEVATION NORTH STREET ELEVATION PLAN VIEW NTS �[� iI ry� �' iriT;K u n vii -u-11. [Illlllll�lll��lflli 5,7 � l.',1,711r1r .l IIA111 "maim minma.ma .::::;;;17171:7,141111111'.1 _:rrt7l:ir'iu 1111 ' T 1 i ,7,7,!„,!,„:137'7,„ -gi ... i„,. '' ;_: '' ".,:.:...n, 1 f�R ,$! ,„„„„,„, ''' ! ..... ! ......... ,,,,:,.,....„... SOUTH EAST VIEW TOV STAMP 111111 AND ASSOCIATES, INC. 11 ARCHITECTURE - PLANNING - INTERIORS LANDSCAPE ARCHITECTURE ,uite 303 101 El Paseo ado 81620 Santa Barbara, California 93101 49-1080 (805) 963-6890 FAX (805) 963-8102 CIVIL MECHANICAL STRUCTURAL ELECTRICAL MONROE & NEWELL 970-949-7768 v '- Q LI— L' 'U CO 0 O CO r 1 CO XO/ INW.o Il g°° °' 0, SEAL FORD PARK SOI FIELDS SHEL' VAI L, COLORAD Copyright © 2018 by Zehren & Ass( ISSUED FOR: No. DATE COMMENT A W25/18 JULY 18 DRB MEETING MODEL VIEWS PROJECT No. 20182599 DATE 05/16/2018 DRAWN BY CH CHK BY MR TRV BY DK SHEET No. A3 . 0 SCALE: AS SHOWN VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: VLHA December 11, 2018 Meeting Results ATTACHMENTS: Description VLHA December 11, 2018 Meeting Results TOWN Of UAIL December 18, 2018 - Page 31 0 TOWN OFD MEMBERS PRESENT Mary McDougall Francisco Meza James Wilkins Staff George Ruther Lynne Campbell Vail Local Housing Authority Meeting Results Tuesday, November 27, 2018 Regular Meeting Public Meeting 3:00 PM — 5:O0PM Housing Department Large Conference Room 75 South Frontage Road West, Vail, Colorado 81657 MEMBERS ABSENT Steve Lindstrom Molly Morales Wilkins called the meeting to order at 3:11 PM, Steve Lindstrom and Molly Morales were absent. 1. Review and Approve November 13, 2018 Meeting Results Meeting results were reviewed and approved as submitted. MOTION: McDougall SECOND: Meza VOTE: 3-0 2. Review of a modification Approval for an Employee Housing Unit Deed Restriction Exchange Request: 44 Willow Place Unit 3/44Vail Road Unit 3. The Board reviewed and recommended the modification of the Deed Restriction Exchange unit from 2395 Bald Mountain Road Unit W to 2335 Bald Mountain Road Unit A-5, all in favor. In making their recommendation the Board found that the request complies with the criteria established for a deed -restriction exchange. 3. East Vail Parcel Ruther presented an East Vail parcel development update from Triumph Development. Triumph intends to present to Council on December 4th in an effort to begin initial discussions regarding the development. Triumph's intent is to gain a better understanding how best to develop the site and begin construction by 2019 summer. • Does the Town have an interest in purchasing the 45 homes that would otherwise be free market units? • Can fees be deferred or exempted? • Can real estate taxes be exempted? Page 1 December 18, 2018 - Page 32 0 • Is Toy committed to improve the existing bus line? Triumph's intent is to begin initial discussions. Is the Town willing to participate financially or in- kind, and specifically, is the Town interested in getting 100% deed restricted housing or just 70% deed restrictions required by the Housing zone district. Key points discussed: • Waiving property tax, the County can waive per state statute. Historically, the Authority has received 1/10th of 1% ownership interest with no management of the property, similar to Lions Ridge Apt and Middle Creek, which qualifies for the waiver. • ERWSD has program to finance impact fees over 10 years on public projects. Currently a statute. This is being used for 6 West Apartments. • The Authority referenced the Town's new housing policy statements: "Funding is Policy", Leverage Financial Strength", "Housing is Infrastructure" and "Breaking Down Barriers". • Have fees been waived for other projects such as Solar Vail? Yes per Ruther, some fees were restructured. Granting of reduced or fee waiver was based on proof a traffic impact was needed, the fee was negotiated. Ruther suggested there may be ways to close a financial gap without writing a check. • Town can create a more incentive to find balance with less parking. • Construction use tax is dedicated to capital improvements. Would the Town be willing to use those fees to build a bus turn around vs. Triumph paying for and building it? • Transportation is the key. Is there data showing there is a greater need for additional bus service? Wilkins stated the VLHA should be willing to look at all avenues coming to the Authority whether financial or otherwise. McDougall thought this is a perfect example to put the housing policies to the test. Meza wants to enhance quality of deed restrictions being built meaning consider transportation, on site amenities, etc. It all goes to quality of life. Ruther will share the Authority's comments with Michael O'Connor with Triumph. 4. Potential Housing Sites Update Campbell presented an updated potential housing site spreadsheet which included land and zoning data. She will update the data to include all hazard categories, year built and site the source. 5. Vail Housing Summit Ruther gave an update for the summit currently scheduled for January 14-17, 2019. The main event will be held at Donovan Pavilion with other sessions and social events at Lodge at Vail. The First Inaugural Snow Summit is the official name with a housing tag line. Agenda: • Early morning sessions • Mid day ski Page 2 December 18, 2018 - Page 33 0 • Reconvene in evening for additional sessions including 2 keynote speakers • Dinner • Thursday expected to have a breakout session, similar to the NIMBY jamboree, geared for locals, a fee could apply. Vail Resorts is providing lift tickets, the Town suppling venue, transit and possibly a meal Kristen with Commfluent and Natalie Spencer with Apex One are working to generate 35K or more in corporate sponsorships. Cost and any subsidies of the conference are pending sponsorships provided. So far there is an estimated cost of $500 for the 3 days exclusive of hotel and airfare, or roughly $1600 (hotel, conference, meals, lift tickets plus airfare). Thus far there we are anticipating about 80 participants. Due to timing the summit could be pushed out to early April. Ruther will continue to update the group as information is obtained. 6. C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, acquisition, lease, transfer, or sale of property interests and to determine positions, develop a strategy and instruct negotiators, regarding: submitted Vail InDEED applications and program details. There were no items for executive session. Other Items Discussed: • Should the Board replace the December 25th meeting? No, unless there is a Vail InDEED application for review. • Ruther will advise the Board if their presence is needed for the East Vail parcel on December 4th Council meeting. • McDougall asked about the Concert Hall Plaza concept status. Per Ruther the deal will not move forward. Meeting adjourned at 4:35 PM. MOTION: Meza Next Meeting — December 11, 2018 Future Agenda Items: • 2019 Budget • Housing Data • Open Lands Plan Discussion • East Vail Parcel Update • West Vail Master Plan Discussion • Housing Sites SECOND: McDougall VOTE: 3-0 Page 3 December 18, 2018 - Page 34 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: 2019 Vail Town Council Meeting Schedule ATTACHMENTS: Description 2019 Town Council Meeting Schedule TOWN Of UAIL December 18, 2018 - Page 35 0 TOWN OF VAIL' To: From: Date: Subject: Memorandum Mayor and Town Council Tammy Nagel, Town Clerk December 18, 2018 2019 Council Meeting Dates The listing below reflects 2019 town council meeting dates. MAIL TOWN COUNCIL COUNCIL MEETING DATES FOR 2019 Held the first & third Tuesday of each month January 0, 2019 February 5, 2019 March 5, 2019 April 2, 2019 May 7, 2019 June 4, 2019 July 2, 2019 August 6, 2019 September 0, 2019 October 1, 2019 November 5, 2019 December 3.2019 January 15, 2019 February 19, 2019 March 19, 2019 April 16, 2019 May 21,2019 June 18, 2019 July 16, 2019 August 20, 2019 September 17, 2019 October 15, 2019 November 19, 2019 December 17. 2019 December 18, 2018 - Page 36 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: CSE draft meeting minutes from December 5, 2018 ATTACHMENTS: Description CSE Meeting Minutes DRAFT December 5, 2018 TOWN OF 1 X41 December 18, 2018 - Page 37 0 TOWN OF VAIL Commission on Special Events RCT COMMISSION ON SPECIAL EVENTS MEETING Vail Town Council Chambers Wednesday, November 7, 2018 @ 8:30a.m. AGENDA: Meeting materials can be accessed at the following link: December Meeting Packet CSE Members Present: TOV Staff Present: Alison Wadey Mark Gordon Rayla Kundolf Kim Newbury Rediker Barry Davis Sam Biszantz Marco Valenti Ernest Saeger, Special Events Coordinator Matt Miano, Economic Development Coordinator Mia Vlaar, Economic Development Director Others Present: Pete Osorio, Vail Resorts Lynn Martin, Bravo! Vail CSE Chair, Barry Davis, called the meeting to order at 8:35am. Administrative Items Approval of the Minutes of the CSE Meeting on November 7, 2018. ➢ Motion to approve the minutes of the CSE Regular Meeting on November 7, 2018 as presented. M/S/P: Kundolf/Valenti/Unanimous. The motion passed 7-0 Meeting reminders: • December 11: Vail Civic Area Plan Kickoff 5:OOpm-7:OOpm, Grandview Room — Lionshead Parking Structure • Miano explained this is the initial public kick-off for the planning process • Vlaar noted that Matt Gannett will present to the CSE at the January meeting CSE Minutes December 5, 2018 Page 1 of 3 December 18, 2018 - Page 38 0 ■ Vlaar said the Community Development team is going to role out the process at the December 11th meeting • December 18: Last day for Council call-up for funding decisions ■ Saeger noted the goal is to create an RFP for Vail Holidays in the first quarter of 2019 Legacy Days (10 minutes), Pete Osorio, Vail Mountain • Osorio noted that President's Day Weekend is the ideal time to have this event in order to improve the guest experience for the many that are already here • Osorio noted there are 20+ events throughout the weekend • Osorio said that there will be a 10th Mountain Parade on the Friday of the event • Osorio said that there will be an 80's themed party on Saturday • Osorio said they are recreating the initial hike that Seibert and Eaton did • Kundolf asked if there will be in town activation o Osorio said yes but still needs to solidify community activation • Wadey asked how they will engage the older demographic o Osorio said they need to add this into their planning • Davis suggested looking into recreating the entire route and utilizing the current popularity of uphill skiing o Osorio said they did talk about this but due to heavy skier traffic on a popular weekend, it makes it difficult • Saeger said the 10th Mountain Parades will take place on four Fridays; 1/4, 1/18, 2/15, and 3/8 • Vlaar noted the idea to include the Colordao Snowsports Museum Civic Plan Update (5 minutes), Mia Vlaar Review 2019 RFP Process (15 minutes), CSE • Kundolf suggested looking into using the meeting room at the West Vail Fire Station • Wadey suggested the use of the Grand View Room • Wadey allocate 0 and clean up • Valenti said that eliminating recaps from the day of interviews worked very well • Saeger confirmed that the CSE would like to have three meetings in October; their regular CSE meeting in early October, followed by the interview meeting, and then the final allocations meeting New Business and Community Input: • Davis asked the CSE if a CBD sponsor is on brand and allowed to be a partner CSE Minutes December 5, 2018 Page 2 of 3 December 18, 2018 - Page 39 0 • Davis said he buys hemp based CBD at the Vail Farmer's Market • Vlaar said it is more the perception of what CBD is • Rediker said it is not a good idea for them to pursue them as a sponsor at least in their first year Motion to adjourn at 9:20am. M/S/P: Kundolf/Wadey/Unanimous. Motion passed 7-0 CSE Minutes December 5, 2018 Page 3 of 3 December 18, 2018 - Page 40 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: VEAC meeting minutes from December 11, 2018. ATTACHMENTS: Description VEAC Meeting Minutes FINAL December 11, 2018 TOWN Of UAIL December 18, 2018 - Page 41 0 Vail Economic Advisory Council December 11, 2018 Vail Town Council Chambers 8:00 AM — 10:00 AM MEETING MINUTES VEAC Members Present: Sarah Franke, Rayla Kundolf, Greg Moffett, Chris Romer, Lori Pohl, Michael Connolly, Kim Newbury-Rediker, Mark Gordon, Bob Boselli, Mike Glass, Alison Wadey, Laurie Mullen, Mike Lange, Meredith MacFarlane, Matt Ivy, Mark Gordon, Town of Vail Staff Present: Mia Vlaar - Economic Development Director, Kathleen Halloran — Finance Director, Greg Clifton — Town Manager, Ernest Saeger, Special Events Coordinator, Matt Miano, Economic Development Coordinator, Matt Gennett, Community Development Director, Jonathon Spence Others Present: Lou Beeker (4240), Tom Braun(Braun Associates), Danica Powell(Trestle Strategy) December Packet Link AGENDA Financial Update, Kathleen Halloran (5 minutes) • Sales tax through October 6.9% up YTD • 14.5% up Real Estate Transfer Tax • Construction is also up nearly double from prior year. Combination of commercial and residential large projects • $60 million collected this year in total revenues (up 9.7% from prior year) Civic Area Plan & Process, Matt Gennett (40 minutes) • Introduction from Matt Gennett — Tom Braun, Danica Powell, Lou Beeker — development team • Tom Braun — Launching Engagevail.com today • Why? To guide future use and development. What's missing and what can be better? End result will be masterplan • Braun went through project overview and goals from PowerPoint presentation found in the VEAC packet • History of town development discussed. Many previous plans were discussed but not seen through to fruition. Also outlined in presentation. VEAC Minutes December 11, 2018 December 18, 2018 - Page 42 0 • Lou Beeker- looking at areas of opportunity, most of which are town owned and others we call `areas of influence' which may or may not become part of the civic area plan. • First opportunity that connects parallel to the creek and allows for connection between both villages • Went through "Successful Civic Area Master Plan" slides • Powell — allow public to engage in forums and discussions and have a civic dialogue. • Hope to add to the website as time goes on, not static • Encouraged all to register on Engage Vail Website • Goal is to reach those who would not normally participate in the civic process • Demonstrated map feature where you can pin areas of the civic space that you love and can share a story as to why • 'Take a Survey' Link -tell us what you like, what works, what is missing etc. This information is exceptionally valuable to the process • Gordon — Looking for different demographics, not just locals? A) Absolutely, we want feedback from all, not limiting the outreach • Kundolf — I didn't hear a lot about needs, it is more 'feel good'. I'd like to see a greater focus on the needs of our community based on event space and other community needs. • Danica- Thank you for that, we welcome all feedback and that is what this process is about. • Gennett — you are all encouraged to give opinions and we will be looking for a set of priorities from various boards and commissions • Gordon — Will you be Facebook advertising? A) Not sure of plan but hoping to work with Suzanne to do so. • Tiff Funds at $30 million • Mullens - Are there restrictions and limitations to ideas? A) Gennett — we have to be realistic but we do want people to think outside the box and think creatively • Braun — It is our job to test out ideas and consider feasibility. Some will go by wayside others will be pursued. • Gordon — Do adjacent lots affect the TIF district? A) We are pursuing best uses of TIF funds whatever that looks like, public/ private partnerships etc. • Next Steps discussed. Revisit engagevail.com to see updates an participate in discussions. VEAC follow-up in January. • Vlaar — We are looking for a spokesperson from VEAC, please consider and reach out to us if interested. VCBA Update, Alison Wadey (10 minutes) • Wadey summarized various new businesses that have opened recently or will be opening in the next few months • Wadey commented that Vail Market is doing great and filling a void • Local Joes and Gilded Spruce both under new ownership VEAC Minutes December 11, 2018 December 18, 2018 - Page 43 0 • Hosting a new employee party at Garfinkle's tomorrow night so send your employees over, 5pm-7pm • Discount cards available for Mountain Ambassador program Health Care Program, Chris Romer (10 minutes) • Played webinar that discusses health plan • Romer- everyone in our office priced out compared to the marketplace and saved anywhere from 30-58% • With mandate going away Jan 1 we home this is a good niche for those who would consider going without insurance • Rates are locked for 4 years with a 3% increase per year max. • Pre-existing conditions — not shareable expense year one but each year that benefit increase • Launched last Wednesday with at least 6 businesses already signed up as well as individuals. • Available to like-minded individuals' and businesses • Anna Robinson is point person at VVP to assist Housing in Vail, George Ruther (10 minutes) • Availability and affordability continue to be major issue for all of us • 2016 — adopted 2027 strategic action plan which included goal of obtaining 1000 deed restricted units • 2018 — Housing department began operation within Town of Vail • July 2018 — adopted housing policy statements • Vail Indeed program — preserves existing land and existing homes. Very cost effective. Acquired 105 deed restricted homes in about 1 year. Most are 1 one bedroom but there are various sized units. Avg cost per deed restriction is $62K, or $83/ square foot. Town has invested approx. $6.5 million inti the Indeed program. • 6 West Apartments in Edwards — offers employers housing opportunities for their employees down Valley • EHU Exchange Program — encourages property owners to get a higher performing deed restriction put into place or pay an 'in lieu of' fee • Looking forward — East Vail Parcel, Marriot Residence Inn, Mountain View Residences, $2.5 million appropriated by town council in 2019 for Vail Indeed program • Looking into long term funding source that is consistent, predictable and reliable • Boselli — Have you considered transportation issues with 6 West? We are looking at that and discussing with Eagle County potential solutions. Moffett — The project is located near Main Line for bus system. • Mullens — How do we ensure that housing we secure is for Vail residents and employees? Deed restriction says Eagle County but we have found 75-80% work within Town of Vail. VEAC Minutes December 11, 2018 December 18, 2018 - Page 44 0 Town Manager's Report, Greg Clifton (5 minutes) • Town Council adopted 2019 budget at last council meeting • Short Term Rental policy was finalized • Looking for an employee to help enforce Short Term policies • Newbury-Rediker— I'd recommend you look for someone from lodging • Actively recruiting an IT Director and looking to hire outside of organization • Forming group to discuss Booth Falls Trailhead and parking • Program to assist with forest service needs • Vail Nature Center will now be operated by town and not Vail Recreation District. Town will contract out operation much the same way as past years. • Working through plans on Nordic Clubhouse • Red Sandstone Parking near completion. Contractors will be leased top 2 floors of structure until job is done but will allow structure to open • Q) Overnight parking allowed? A) I do not believe that overnight parking is allowed in that structure Citizen Input (5 minutes) • Other Business (5 minutes) • Vlarr- Calnedar invites sent for 2019. Economic indicators in file, business review printed or digital? Digital Adjournment Next Meeting Tuesday, January 8, 2019 8:00 — 10:00 AM, Town Council Chambers VEAC Minutes December 11, 2018 December 18, 2018 - Page 45 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: 3rd Quarter Investment Report ATTACHMENTS: Description 3rd Quarter Investment Report TOWN t f UAIL December 18, 2018 - Page 46 0 TOWN OF VAIL MEMORANDUM TO: Greg Clifton Council Members FROM: Carlie Smith DATE: 3rd Qrtr 2018 RE: Investment Report Enclosed is the investment report with balances as of September 30, 2018. The estimated average yield for the pooled cash fund is 1.4%. As of 09/30/2018, the Treasury yield curves for 3 months, 6 months, and 1 year are 2.19%, 2.36%, and 2.59% respectively. In this interest enviroment, the town has intentionally kept funds in shorter term holdings. Recent investments include additional CD's with interest rates of 3.3% Our investment mix follows the policy objectives of safety, liquidity, and yield in that order. 2018 3rd Qtr Investment Mix $92.7M Cash 22.1M, 24% Colorado Investment Pool 27.8M, 30% Gov't Securities $27.0M, 29% CD's 15.7M, 17% There were no changes to investment products or banking institutions. Please call me if you have any questions. December 18, 2018 - Page 47 0 Town of Vail, Colorado Investment Report Summary of Accounts and Investments As of 09/30/2018 Cash Commercial Banks Money Market Funds Total Cash U.S. Government Securities (see page 4) Government Agency Seurities -Piper Jaffray FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana Total Government Securities 2018 Balances Percentage of Total $21,599,553 $502,753 23.31% 0.54% $22,102,306 23.85% $15,841,906 $11,192,620 17.10% 12.08% $27,034,525 29.18% Certificates of Deposit $15,712,074 16.96% Colorado Investment Pools $27,805,345 30.01% Total Portfolio $92,654,250 100.0% Maturing Within 12 Months Maturing Within 24 Months Maturing After 24 Months 52,102,671 12,211,082 28,340,497 56.23% 13.18% 30.59% 92,654,250 100.0% December 18, 2018 - Page 48 0 Performance Summary as of 09/30/2018 Institution Type of Accounts "CASH" ACCOUNTS Commercial Bank Accounts: First Bank of Vail - Operating Accounts Alpine Bank Money Market Accounts: Schwab Institutional Money Market Fund - Dana Investments Interest and Balance Vail Super Now Public Funds Account - Piper Jaffray Interest and Balance Total Money Market Funds Total "Cash" Accounts GOVERNMENT SECURITIES (see pg 5) Government Agency Seurities -Piper Jaffray FNMA'S, GNMA'S, FHLMC'S & SBA'S - Dana Total Government Securities 1st Bank, Vail Colorado (#5734) Matures September 14, 2022 1st Bank, Vail Colorado (#1992) Matures Nov 23, 2020 1st Bank, Vail Colorado (#3421) Matures Mar 17, 2021 1st Bank, Vail Colorado (#4290) Matures Sept 29, 2021 1st Bank, Vail Colorado (#4754) Matures Dec 28, 2021 1st Bank, Vail Colorado (#5319) Matures May 21, 2020 1st Bank, Vail Colorado (#9497) Matures Nov 19, 2019 1st Bank, Vail Colorado (#9500) Matures Nov 18, 2019 Piper Jaffray 254672RY6 Matures July 15, 2020 Piper Jaffray 17312QL98 Matures May 23,2023 Piper Jaffray 06740KLH8 Matures October 21, 2021 Piper Jaffray 02587CFU9 Matures Aug 29, 2022 Piper Jaffray 38148PUA3 Matures December 6, 2022 Piper Jaffray 949763LRS Matures December 8, 2022 Piper Jaffray 17312QQ36 Matures July 24, 2023 Piper Jaffray 254673RVO Matures July 25, 2023 Piper Jaffray 06426KAMO Matures July 31, 2023 Piper Jaffray 29278TCG3 Matures July 31, 2023 Piper Jaffray 58404DCM1 Matures July 31, 2023 Alpine Bank- Solar Vail Matures August 29, 2020 Total Certificates of Deposit LOCAL GOVERNMENT INVESTMENT POOLS Colotrust General Fund Interest Total Local Government Investment Pools Accounts Total All Accounts Average Return Balances 09/30/18 1.250% $21,599,553 $0 1.460% $431,875 0.000% $70,878 $502,753 $22,102,306 1.54% $15,841,906 2.11% $ 11,192,620 $ 27,034,525 1.510% 0.700% 0.700% 0.700% 0.700% 0.300% 0.900% 0.900% 2.320% 3.210% 2.210% 2.490% 2.570% 2.590% 3.300% 3.300% 3.210% 3.210% 3.260% 0.000% $ 27,034,525 1,078,294 1,140,399 1,151,860 1,106,145 1,104,237 1,546,540 1,228,995 1,090,728 145,646 99,585 126,425 198,186 242,858 240,873 149,867 99,909 248,638 238,692 249,198 4,225,000 15,712,074 $ 15,712,074 1.910% $27,805,345 $27,805,345 $92,654,250 December 18, 2018 - Page 49 0 Agency ***Federal Agency FHLB 313383HQ7 FHLB 313383JQ5 FHLB 3130A6K89 FHLMC 313G9SK4 FNMA 3136G3JA4 FFCB 3133EGAZ8 FHLMC 3133EFZ91 FNMA 3136G3Z32 FFCB 3133EGLH6 FHLMC 3134GBYF3 FHLB 3130A8Q22 FNMA 3136G3S55 FHLB 3130A8ZB2 FNMA 3136G3Y25 FFCB 3133EGAH8 FFCB 3133EGYB5 FHLB 3130A9XN6 FHLB 330AAEKO Broker Government Securities as of 09/30/2018 Int Rate Purchase Maturity to Maturity Coupon Yield Date Date at Purchase Discount Notes & Bonds*** Piper Jaffray 1.200% 1.200% 2/2/2012 6/27/2018 6.4 Piper Jaffray 1.250% 1.250% 2/2/2012 6/27/2018 6.4 Piper Jaffray 1.050% 1.060% 10/05/15 10/05/18 3.0 Piper Jaffray 1.500% 1.530% 6/30/2016 6/30/2020 4.0 Piper Jaffray 1.550% 1.580% 04/28/16 10/28/20 4.5 Piper Jaffray 1.580% 1.620% 05/17/16 02/17/21 4.8 Piper Jaffray 1.620% 1.670% 04/12/16 04/12/21 5.0 Piper Jaffray 1.200% 1.220% 08/24/16 02/24/20 3.5 Piper Jaffray 1.420% 1.460% 07/12/16 01/12/21 4.5 Piper Jaffray 1.800% 1.840% 07/27/17 01/27/21 3.5 Piper Jaffray 1.440% 1.490% 07/19/16 07/19/21 5.0 Piper Jaffray 1.520% 1.580% 07/28/16 07/28/21 5.0 Piper Jaffray 1.410% 1.460% 08/18/16 08/18/21 5.0 Piper Jaffray 1.500% 1.560% 08/25/16 08/25/21 5.0 Piper Jaffray 1.550% 1.600% 05/17/16 05/17/21 5.0 Piper Jaffray 1.540% 1.600% 10/12/16 10/12/21 5.0 Piper Jaffray 1.625% 1.680% 11/26/16 11/26/21 5.0 Piper Jaffray 2.020% 2.090% 12/27/16 12/27/21 5.0 Average Yield 1.54% Agency Broker ***FNMA'S, ARM'S & SBA'S*** SBA 502647 SBA 521683 SBA 508940 SBA 508946 SBA 509634 SBA 509701 SBA 509977 SBA 510090 SBA 505536 GNMA 8417 GNMA 8703 GNMA 8720 GNMA 8788 GNMA 80426 GNMA 80696 GNMA 80710 GNMA 82759 GNMA 80593 GNMA 82382 GNMA 1303 FNMA 422251 FNMA 520790 FNMA 546468 FNMA 535326 FNMA 323798 FNMA 567875 FNMA 593941 FNMA 545057 FNMA 650970 FNMA 555378 FNMA 709092 FNMA 723661 FNMA 761737 FNMA 725462 FNMA 745160 FNMA 791573 FNMA 888321 FNMA 849207 FNMA 850125 FNMA 888710 FNMA 893933 FNMA 555624 FNMA 735967 Days/Years Interest Rate Purchase Maturity to Maturity Coupon Yield Date Date at Purchase Pooled - Dana 3.975% 5.8% 1 -Jul -94 25 -Jun -19 25.0 Pooled - Dana 4.540% 5.9% 25 -Aug -21 121.7 Pooled - Dana 2.575% 4.3% 6 -May -11 25 -Jun -30 19.2 Pooled - Dana 3.250% 4.0% 25 -Jul -30 130.7 Pooled - Dana 3.250% 3.9% 24 -Aug -17 25 -Feb -40 22.5 Pooled - Dana 1.500% 3.2% 25 -Jul -40 140.7 Pooled - Dana 2.400% 3.3% 25 -Mar -42 142.3 Pooled - Dana 2.250% 3.0% 25 -Jan -43 143.2 Pooled - Dana 3.125% 4.8% 1 -Aug -01 25 -Jun -26 125.0 Pooled - Dana 4.000% 4.0% 1 -Oct -88 20 -Oct -18 30.1 Pooled - Dana 1.875% 2.7% 1 -Sep -95 20 -Sep -25 30.1 Pooled - Dana 1.625% 3.1% 30 -Sep -95 20 -Oct -25 30.1 Pooled - Dana 1.750% 3.3% 1 -Jan -96 20 -Jan -26 30.1 Pooled - Dana 1.875% 2.7% 21 -Jul -00 20 -Jul -30 130.1 Pooled - Dana 1.750% 3.5% 23 -May -11 20 -May -33 22.0 Pooled - Dana 1.875% 2.7% 1 -Jul -03 20 -Jul -33 130.1 Pooled - Dana 1.750% 3.3% 20 -Mar -12 20 -Mar -41 29.0 Pooled - Dana 1.750% 3.5% 20 -Apr -12 20 -Apr -32 20.0 Pooled - Dana 1.875% 2.7% 30 -Sep -13 20 -Sep -39 26.0 Pooled - Dana 2.000% 2.7% 30 -Sep -13 20 -Sep -43 30.0 Pooled - Dana 2.499% 4.1% 1 -Dec -95 1 -Jan -21 25.1 Pooled - Dana 2.544% 3.9% 1 -Jun -00 1 -Apr -28 127.9 Pooled - Dana 2.490% 4.1% 24 -May -00 1 -Apr -28 127.9 Pooled - Dana 2.332% 3.8% 26 -Jun -00 1 -Jun -28 128.0 Pooled - Dana 2.354% 3.4% 1 -Dec -99 1 -May -29 29.4 Pooled - Dana 2.679% 3.9% 1 -Dec -00 1 -Sep -30 129.8 Pooled - Dana 1.974% 3.8% 1 -Dec -01 1 -Dec -30 129.1 Pooled - Dana 2.384% 3.8% 1 -May -01 1 -May -31 130.1 Pooled - Dana 2.385% 4.2% 1 -Aug -01 1 -Jul -32 131.0 Pooled - Dana 2.385% 3.7% 14 -May -08 1 -Apr -33 24.9 Pooled - Dana 2.316% 4.1% 1 -Jun -03 1 -Jul -33 130.2 Pooled - Dana 2.375% 4.3% 1 -Jul -03 1 -Jul -33 130.1 Pooled - Dana 2.467% 3.5% 16 -May -05 1 -Dec -33 128.6 Pooled - Dana 1.944% 3.4% 1 -Apr -04 1 -Jan -34 129.8 Pooled - Dana 2.420% 3.8% 1 -Dec -05 1 -Mar -34 128.3 Pooled - Dana 2.420% 4.3% 1 -Jul -04 1 -Aug -34 130.2 Pooled - Dana 2.383% 3.6% 1 -Mar -07 1 -Aug -34 27.4 Pooled - Dana 1.996% 3.0% 1 -Jan -06 1 -Jan -36 30.0 Pooled - Dana 2.455% 4.1% 1 -May -09 1 -Sep -35 126.4 Pooled - Dana 2.496% 3.7% 1 -Sep -07 1 -Jul -36 28.9 Pooled - Dana 2.472% 3.7% 1 -Sep -06 1 -Oct -36 30.1 Pooled - Dana 2.401% 3.7% 1 -Jun -03 1 -Mar -38 Pooled - Dana 2.494% 3.4% 1 -Sep -05 1 -Mar -38 Market Value $0 $0 $559,933 $880,038 $1,365,000 $970,540 $1,357,076 $1,468,425 $1,452,615 $536,448 $1,441,830 $765,048 $863,361 $861,102 $966,210 $1,247,831 $961,600 $144,849 $15,841,906 Market Value $755 $47,954 $100,425 $68,911 $129,674 $117,048 $333,092 $491,035 $11,028 $4 $311 $348 $232 $2,402 $115,538 $3,091 $87,383 $1,403 $62,090 $60,713 $580 $2,733 $686 $671 $460 $867 $3,777 $157 $1,408 $21,725 $2,200 $311 $3,873 $6,660 $5,380 $946 $7,939 $3,993 $14,120 $11,861 $4,213 134.8 $1,617 132.6 $3,848 December 18, 2018 - Page 50 0 Government Securities as of 09/30/2018 Int Rate Agency Broker Coupon FNMA 888386 Pooled - Dana 2.420% FNMA 888618 Pooled - Dana 2.457% FNMA 995451 Pooled - Dana 2.442% FNMA 557073 Pooled - Dana 1.643% FNMA BM1554 Pooled - Dana 2.641% FNMA 110540 Pooled - Dana 2.674% FNMA 555921 Pooled - Dana 2.750% FNMA 868877 Pooled - Dana 2.543% FNMA 701045 Pooled - Dana 2.297% FNMA 848390 Pooled - Dana 2.086% FNMA 844148 Pooled - Dana 2.263% FNMA 748087 Pooled - Dana 2.455% FNMA 851297 Pooled - Dana 2.555% FNMA AC0038 Pooled - Dana 2.033% FNMA BM3294 Pooled - Dana 2.967% FMNA BM1087 Pooled - Dana 1.848% FNMA AL9205 Pooled - Dana 2.056% FNMA AL8786 Pooled - Dana 3.024% FNMA BM3726 Pooled - Dana 2.915% FNMA AL8883 Pooled - Dana 2.002% FNMA AL9157 Pooled - Dana 2.018% FNMA AL9298 Pooled - Dana 1.996% FNMA AL9645 Pooled - Dana 2.004% FNMA BM4429 Pooled - Dana 2.585% FNMA BM3834 Pooled - Dana 2.485% FNMA AV9481 Pooled - Dana 1.919% FHLMC 865469 Pooled - Dana 2.969% FHLMC 645235 Pooled - Dana 2.215% FHLMC 846784 Pooled - Dana 2.434% FHLMC 846956 Pooled - Dana 2.680% FHLMC 847166 Pooled - Dana 2.497% FHLMC 847359 Pooled - Dana 2.512% FHLMC 782526 Pooled - Dana 2.375% FHLMC 848000 Pooled - Dana 2.480% FHLMC 847629 Pooled - Dana 2.560% FHLMC 865476 Pooled - Dana 2.806% FHLMC 847427 Pooled - Dana 2.469% FHLMC 163063 Pooled - Dana 2.520% FHLMC 847058 Pooled - Dana 2.500% FHLMC 167033 Pooled - Dana 2.415% FHLMC 611384 Pooled - Dana 2.578% FHLMC 849674 Pooled - Dana 2.082% FHLMC 260155 Pooled - Dana 2.300% FHLMC 260875 Pooled - Dana 2.021% FHLMC 849824 Pooled - Dana 2.563% FHLMC 849422 Pooled - Dana 2.066% FHLMC 840287 Pooled - Dana 2.166% FHLMC 840274 Pooled - Dana 2.315% FHLMC 840537 Pooled - Dana 1.770% FHLMC 840329 Pooled - Dana 2.673% FHLMC 849810 Pooled - Dana 2.282% FHLMC 840551 Pooled - Dana 2.464% FHLMC 840786 Pooled - Dana 2.535% FHLMC 840752 Pooled - Dana 2.592% FHLMC 849313 Pooled - Dana 2.020% FFCB Fixed rate agency 3133EHYL1 1.590% FHLB Fixed Rate Agency 3130A6KH9 1.190% FHLB Fixed Rate Agency 3130ABMU7 1.630% FHLB Fixed Rate Agency 3130AEQH6 2.700% FMNA Fixed Rate Agency 3135G0K85 1.410% FHLMC Step Coupon Agency 3134GAUY8 0.750% FHLMC Step Coupon Agency 3134G9J81 0.880% FMNA Step Coupon Agency 3134GBA93 1.500% Corp Financials 45905U7J7 1.650% Accrued Interest Income Receivable Average Yield Purchase Yield Date 3.7% 1 -Apr -07 3.7% 1 -Jul -07 3.9% 12 -Feb -09 3.2% 1 -Sep -00 2.5% 3.3% 1 -Nov -90 2.7% 1 -Sep -12 3.8% 1 -Apr -06 4.0% 1 -Apr -03 3.5% 12 -Feb -09 3.7% 1 -Oct -05 4.3% 1 -Sep -10 3.9% 3 -May -11 3.4% 24 -May -11 3.0% 8 -Mar -18 3.7% 4.0% 31 -Oct -16 3.0% 29 -Jul -16 2.9% 26 -Apr -18 3.5% 22 -Aug -16 3.4% 3.4% 3.4% 21 -Feb -17 2.5% 24 -Sep -18 2.4% 20 -Jun -18 3.2% 1 -Jul -14 3.2% 1 -Dec -95 3.5% 1 -Jul -00 3.8% 1 -Jul -00 3.8% 1 -Nov -01 4.1% 1 -Jul -03 3.7% 1 -Dec -04 3.8% 1 -Apr -05 3.5% 1 -Sep -08 3.8% 1 -Oct -06 3.2% 1 -Apr -96 4.4% 1 -Jul -05 4.5% 1 -Aug -06 4.3% 1 -Aug -02 4.4% 25 -May -11 3.5% 11 -Feb -05 3.8% 3.6% 21 -Dec -15 3.9% 28 -Oct -16 4.0% 21 -Dec -15 3.5% 3.8% 1 -Jun -16 3.9% 3.9% 21 -Feb -17 2.8% 22 -Sep -16 3.9% 2.9% 2.5% 22 -Aug -18 2.6% 26 -Jan -18 3.5% 1 -Jun -14 1.6% 14 -Sep -17 1.2% 1.7% 30 -Jun -17 2.7% 28 -Aug -18 1.4% 1.5% 3 -Nov -16 1.8% 14 -Jul -16 2.0% 3 -Aug -17 1.7% 29 -Jul -17 2.1% Maturity to Maturity Market Date at Purchase Value 1 -Mar -38 131.0 $15,893 1 -Mar -38 130.8 $6,466 1 -Mar -38 29.1 $14,125 1 -Jun -40 139.8 $2,170 1 -Jun -42 142.5 $309,473 1 -May -20 29.5 $654 1 -Sep -35 23.0 $8,217 1 -Apr -36 30.0 $2,844 1 -Apr -33 30.0 $18,983 1 -Dec -35 26.8 $7,993 1 -Nov -35 30.1 $8,783 1 -Sep -33 23.0 $15,230 1 -Sep -35 24.3 $53,222 1 -Sep -38 27.3 $56,652 1 -Jun -42 24.2 $367,148 1 -Dec -43 144.0 $132,185 1 -Apr -44 27.4 $119,094 1 -May -44 27.8 $233,416 1 -May -44 26.0 $393,298 1 -Jul -44 27.9 $120,741 1 -Jul -44 144.6 $132,557 1 -Jul -44 144.6 $167,319 1 -Jul -44 27.4 $182,408 1 -Jan -45 26.3 $499,735 1 -Aug -45 27.1 $430,887 1 -Jul -43 29.0 $99,719 1 -Aug -25 29.7 $181 1 -Mar -29 128.8 $1,628 1 -May -29 128.9 $488 1 -Nov -31 130.1 $493 1 -Aug -33 130.2 $1,654 1 -Dec -34 130.1 $974 1 -Apr -35 30.0 $4,729 1 -Feb -36 27.4 $18,017 1 -Sep -36 29.9 $3,793 1 -Feb -36 39.9 $428 1 -Sep -34 29.2 $2,486 1 -Aug -36 30.0 $17,137 1 -Aug -32 30.0 $3,814 1 -Sep -35 24.3 $23,381 1 -Dec -32 127.9 $6,724 1 -Nov -42 142.9 $40,544 1 -Jan -42 26.0 $88,782 1 -Oct -42 25.9 $127,257 1 -Feb -43 27.1 $106,530 1 -Feb -43 143.2 $45,563 1 -Jun -43 27.0 $128,818 1 -Jul -43 143.6 $132,795 1 -Jul -43 26.4 $133,761 1 -Feb -44 27.4 $171,610 1 -Oct -44 144.9 $62,604 1 -Mar -45 145.3 $212,650 1 -Mar -45 26.5 $381,261 1 -Dec -45 27.9 $422,462 1 -Feb -43 28.7 $27,952 14 -Sep -20 3.0 $487,390 14 -Jan -19 119.1 $498,090 26 -Jun -20 3.0 $489,300 28 -Aug -20 2.0 $399,168 13 -Jun -19 119.5 $495,625 26 -Oct -18 2.0 $0 14 -Jul -19 3.0 $394,024 3 -Aug -21 4.0 $490,755 5 -Oct -20 3.2 $390,484 $39,663 $206,927 2.11% 11,192,620 Total $27,034,525 December 18, 2018 - Page 51 0 TOWN Of UAIL VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Vail Local Marketing District Interview and Appointments. See Separate Agenda. PRESENTER(S): Dave Chapin, Mayor December 18, 2018 - Page 52 0 TOWN Of 9 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Executive Session, pursuant to: 1) C.R.S. §24-6-402(4)(a)(b)(e) - to discuss the purchase, acquisition, lease, transfer, or sale of property interests; to receive legal advice on specific legal questions; and to determine positions, develop a strategy and instruct negotiators, Regarding: Triumph Development Parcel, Chamonix Purchase and Vail App; and 2) C.R.S. §24-6- 402(4)(e)(f) - to determine positions, develop a strategy and instruct negotiators to discuss personnel matters, Regarding: Personnel matters. PRESENTER(S): Matt Mire, Town Attorney December 18, 2018 - Page 53 0 VAIL TOWN COUNCIL AGENDA MEMO ITEM/TOPIC: Recess 5:15 p.m. (estimate) TOWN Of UAIL December 18, 2018 - Page 54 0