HomeMy WebLinkAbout10. VEAC August MinutesVEAC Minutes August 14, 2018
Vail Economic Advisory Council
Tuesday, August 14, 2018
Town Council Chambers
8:00 AM – 10:30 AM
MEETING MINUTES
Packet Materials Link: http://bit.ly/2oq5kiT
VEAC Members Present:
Rayla Kundolf, Laurie Mullen, Mike Lange, Sarah Franke, Chris Romer, Matt Ivy, Matt Morgan,
Mark Gordon, Kim Newbury-Rediker, Matt Morgan, Lori Pohl, Phil Metz
Town of Vail Staff Present:
Kathleen Halloran – Finance Director, Ernest Saeger - Special Event Coordinator
Others Present:
Sidney Bonser – Strategic Initial Outfitting Transition Solutions (SIOTS), LLC
Financial Update, Kathleen Halloran (5 minutes)
Sales Tax
Upon receipt of all sales tax returns, July collections are estimated to be $2,264,145 up 2.2% from
last year and down 2.3% compared to budget. Year to date collections of $17,499,574 are up 4.7%
from prior year and up 1.8% from budget. Inflation as measured by the consumer price index was
up 2.9% for July. The annual budget totals $26.0 million.
Real Estate Transfer Tax (RETT)
RETT collections through August 28 total $4,759,809 up 7.5% from this time last year. Sales from
the Lion have boosted RETT revenue so far this year. Without those sales, RETT is down 5% from
2017 but is still pacing with budget. The annual 2018 RETT budget totals $6.1 million.
Construction Use Tax
Use Tax collections through August 28 total $3,242,255 compared to $1,162,178 from this time last
year. The annual budget totals $1,975,900.
Colorado Classic Update, Sarah Franke, (10 minutes)
• Franke said that load-in will begin on Wednesday afternoon
• Franke noted that road closures begin at 9:00am on Thursday morning for Stage 1
• Saeger noted that the East Vail bus route is running on Friday every 30 minutes but with
modified stops
• Franke noted that the race organizers goal is to end the race by 3:00pm due to TV
times, barring any major incidents
• Franke added that Jerry Garcia Birthday Band will be performing at the Gerald R Ford
Amphitheater on Friday and Saturday night
• Franke noted that they have volunteers from 14 different states coming
VEAC Minutes August 14, 2018
• Franke said overflow parking will be on North Frontage Rd, South Frontage Rd past the
golf course on Thursday and on South Frontage Rd West on Friday.
2018 Workforce Survey Results for Vail Valley, Chris Romer (25 minutes)
• Romer said the theme is the stress on businesses due to the demand for employees but
the lack of available local workforce
• Romer noted that wages in Eagle County mirror the States but are better than our
neighboring counties
• Romer noted that positions are staying open longer and businesses continue to add
jobs
• Romer noted that 75% of businesses want to add more employees in the future
• Romer presented the open ended questions as far as barriers for the workforce and
noted that a vast majority of comments pointed back to housing issues
• Romer said that the VVP is looking into creating a group health care plan option for
small businesses
• Romer noted they have had difficulties with the group health care plan from the State
level
Town Manager’s Report, Greg Clifton (15 minutes)
• Halloran noted that they are interviewing potential contractors for the Civic Area plan
next week
Citizen Input (5 minutes)
Other Business (5 minutes)
• Kundolf noted that tonight is Boards & Commissions appreciation night at Hot Summer
Nights at the Gerald R Ford Amphitheater
• Wadey said the Businesses, Bogey’s and Bragging Rights golf tournament is on
September 6th at the Vail Golf Course
• Morgan thanked Nolan and Wadey for revitalizing Vail-Beaver Creek Restaurant Week
• Halloran noted that there will be an update on the Civic Area Plan at the next meeting
on September 11th
Adjournment
Next Meeting: Tuesday, September 11, 2018, 8:00 – 10:00AM