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HomeMy WebLinkAbout2008-32 an Emergency Ordinance Amending Ordinance No. 20, Series of 2008, Prescribing Other Details in Connection with Sales Tax Revenue Refunding Bonds ORDINANCE NO. 32 SERIES OF 2008 AN EMERGENCY ORDINANCE AMENDING ORDINANCE NO. 20 SERIES OF 2008; PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH; AND DECLARING AN EMERGENCY. WHEREAS, the Town of Vail, in the County of Eagle and State of Colorado (the "Town "), is a home rule Town duly existing under the Constitution and laws of the State of Colorado and its home rule 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 Council has previously passed and adopted Ordinance No. 20, Series of 2008 on September 16, 2008 (the "Bond Ordinance "), authorizing the issuance of the Town's Sales Tax Revenue Refunding Bonds, Series 2008 (the "Bonds "); and WHEREAS, the Bond Ordinance provided that the Bonds were to be issued to refund certain of the Town's outstanding Sales Tax Revenue Refunding Bonds, Series 1998A, maturing on and after December 1, 2009 (the "Refunded Bonds "); and WHEREAS, the Bond Ordinance provided that the Refunded Bonds were to be called for prior redemption on the "Redemption Date," which was defined in the Bond Ordinance as December 1, 2008; and WHEREAS, due to certain economic factors and conditions beyond the control of the Town, the Town was unable to issue the Bonds and call the Refunded Bonds for prior redemption on December 1, 2008; and WHEREAS, in order to provide for flexibility in the issuance of the Bonds, the Town has determined that it is in the best interest of the Town and public interest and necessity to amend the definition of "Redemption Date" in the Bond Ordinance to provide that the Refunded Bonds may be called for prior redemption on the earliest possible date after the issuance of the Bonds; and Ordinance No. '32, Series 2008 1 WHEREAS, in order to allow for maximum flexibility in order to react quickly in an uncertain economy, the Council hereby determines that it is required that this Ordinance be adopted as an emergency ordinance; and WHEREAS, Section 4.11 of the Charter provides that an ordinance may be passed as an emergency measure for the preservation of the public property, health, welfare, peace or safety, upon the unanimous vote of all members of the Council present or a vote of five members of the Council, whichever is less. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO: Section 1. Amendment to the Bond Ordinance The definition of "Redemption Date" in the Bond Ordinance is hereby amended as follows: " Redemption Date means the earliest date on which the Refunded Bonds may be called for prior redemption. Section 2. Effect of Amendment Except as provided in Section 1 above, all provisions of the Bond Ordinance remain in full force and effect. Section 3. Severability If any section, paragraph, clause, or provision of this ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause, or provision shall not affect any of the remaining provisions of this ordinance, the intent being that the same are severable. Section 4. Repealer All orders, resolutions, bylaws, ordinances or regulations of the Town, or parts thereof, inconsistent with this ordinance are hereby repealed to the extent only of such inconsistency. Section 5. Declaration of Emergency Due to the immediate need by the Town to issue the Bonds under current market conditions to effect the refunding of the Refunded Bonds, an emergency exists which requires the immediate passage of this ordinance as an emergency measure, and it is hereby declared that the approval of this ordinance as an emergency measure is necessary for the preservation of the public property, health, welfare, peace or safety. Ordinance No. 32, Series 2008 2 Section 6. Effective Date, Recording and Authentication Pursuant to Section 4.11 of the Charter, this ordinance shall be finally passed on the date hereof and shall be effective on the date hereof. This ordinance, as adopted by the Council, shall be numbered and recorded by the Town Clerk of the Town in the official records of the Town. The ordinance shall be authenticated by the signatures of the Mayor and Town Clerk of the Town, and shall be published within ten days of the date hereof as required by the Charter. INTRODUCED AND FINALLY PASSED AS AN EMERGENCE MEASURE AND ORDERED PUBLISHED in full in the Vail Dailv a newspaper of general circulation in the Town of Vail by a vote of to G , this 16th day of December, 2008 TOWN OF VAIL, COLORADO /2,._ M ayor Attest: OW N p �L wn Jerk •' :'9 (SEAL) AD Ordinance No. 32, Series 2008 3 STATE OF COLORADO ) COUNTY OF EAGLE ) SS. TOWN OF VAIL ) I, the Town Clerk of the Town of Vail, Colorado, do hereby certify 1. That the foregoing pages are a true, perfect and complete copy of the Ordinance adopted by the Town Council constituting the governing board of the Town of Vail (the "Town Council "), had and taken at an open, regular meeting of the Town Council held at the Town Hall, in Vail, Colorado, on December 16, 2008, convening at the hour of 6:00 p.m. as recorded in the regular book of official records of the proceedings of said Town of Vail kept in my office. 2. That the Ordinance was read by title, duly moved and seconded and the Ordinance was approved as an emergency Ordinance on first and final reading by a vote of 6 to 0 of the members of the Town Council, which vote represents a vote of all members of the Council present or a vote of five members of the Council, whichever is less, in accordance with the Town Charter, at the regular meeting of the Town Council held at the Town Hall, in Vail, Colorado, on December 16, 2008, convening at the hour of 6:00 p.m., as follows: Name "Yes" "No" Absent Abstain Dick Cleveland X Andy Daly X Farrow Hitt X Mark Gordon X Margaret Rogers X Kim Newbury X Kevin Foley X 3. That the ordinance was published after first and final reading in the Vail Pail , a newspaper of general circulation within the Town on December 20, 2008 within ten days after final passage or as soon thereafter as possible, as provided by the Town Charter. The affidavit of publication is attached hereto as Exhibit A . Ordinance No. 32, Series 2008 4 4. There are no bylaws, rules or regulations of the Town Council which -might prohibit the adoption of said Ordinance. 5. Notice of the meeting of December 16, 2008, in the forms attached hereto as Exhibit B was posted at the Town Hall, not less than 24 hours prior to each meeting in accordance with law. WITNESS my hand and the seal of said Town affixed this December 2008. Town Clerk (SEAL) Ordinance No. 32, Series 2008 5 EXHIBIT A (Attach Affidavit of Publication ) 6 PROOF OF PUBLICATION STATE OF COLORADO } — } SS. O RDINANCE SERIES OF 20082 determines that it is re- qui O the Council hereby ce be adopted as an COUNTY OF EAGLE } AN EMERGENCY ORDINANCE AMENDING OR- 1 emergency ordinance; and DINANCE NO. 20 SERIES OF 2008; PRE- SCRIBING OTHER DETAILS IN CONNECTION i WHEREAS, Section 4.11 of the Charter provides THEREWITH; AND DECLARING AN EMERGEN- that an ordinance may be passed as an emergen- I Steve Poe do solemnly wear that I am a q ualified representative o d tatif the Vail Daily. That the same Dail Cy. cy measure for the preservation of the public prop- ' p ' y Q p y y erty, health, welfare, peace or safety, upon the newspaper p rinted , in whole or in art and p ublished in the Coun Eagle State of Colorado and has a g eneral WHEREAS, the Town of Vail, in the County of Ea- unanimous vote of al members of the Council p p art y g ' g gle and State of Colorado (the `Town "), is a home present or a vote of five members of the Council, circulation therein; that said newspaper has been published continuously and uninterruptedly in said County of rule Town duly existing un der the Constitution and whichever is less. laws of the State of Colorado and its home rule Eagle fora p eriod of more than fif -two consecutive weeks next prior to the first publication of the annexed le al charter (the "Charted); and NOW, THEREFORE, BE IT ORDAINED BY THE g p `' p p g WHEREAS, the members of the Town Council of TOWN COUNCIL OF THE TOWN OF VAIL, COL - notice or advertisement and that said newspaper has published ORADO: the requested legal notice and advertisement as h q g the Town (the "Council ") have been duly elected requested. and qualified; and Section 1. Ame ndment to the Bond Ordina The definition of "Redemption Date in the Bond WHEREAS, the Council has previously passed and Ordinance is hereby amended as follows: adopted Ordinance No. 20, Series of 2008 on °Redemption Date" means the earliest date on r September 16, 2008 (the "Bond Ordinance"), au- which the Refunded Bonds may be called for prior The Vail Daily is an accepted legal advertising medium, only for jurisdictions operating under Colorado thorizing the issuance of the Town's Sales Tax redemption. Home Rule r OVISIO n. Revenue Refunding Bonds, Series 2008 (the P "Bonds "); and Section 2. Effect of Amendment. ' ndent. Except as pro- vided in Section 1 above, all provisions of the Bond WHEREAS, the Bond Ordinance provided that the o,uinance remain in full force and effect. Bonds were to be issued to refund certain of the That the annexed legal notice or advertisement was published in the regular and entire issue of every number of Town's outstanding Sales Tax Revenue Refunding Section 3_ 59 - ve - r - a - b - ilib L If any section, paragraph, on and after De- clause, or provision of this ordinance shall for any Bonds, Series 1998A, maturing camber 1, 2009 (the "Refunded Bonds "); and reason be held to be invalid or unenforceable, the said daily newspaper for the period of 1 consecutive insertions; and that the first publication of said notice was in invalidity or unenforceability of such section, para- WHEREAS, the Bond Ordinance provided that the graph, clause, or provision shall not affect any of Refunded Bonds were to be called for prior re- the rainin g provisions of this. ordinance, the m- the issue of said newspaper dated 12/20/2008 and that the last publication of said notice was in the issue of said demption on the "Redemption Date," which was tent being that the same are severable. defined in the Bond Ordinance as December 1 Section 4. Re eel r All orders, resolutions, newspaper dated 12/20/2008 2008; and bylaws, ordinances or regulations of the Town, or WHEREAS, due to certain economic factors and i part s thereof, inconsistent with this ordinance are conditions beyond the control of the Town, the hereby repealed to the extent only of such Town was unable to issue the Bonds and call the inconsistency. Refunded Bonds for prior redemption on Decem- In witness whereof has here unto sj6 A my hand this 15th day of December 2008 ber 1, 2008; and Section 5. Declaration of Emerdencv. Due to the immediate need by the Town to issue the Bonds WHEREAS, in order to provide for flexibility in th under current market conditions to effect the issuance of the Bonds, the Town has determine refunding of the Refunded Bonds, an emergency j /' that it is in the best interest of the Town and publi exists which requires the immediate passage of interest and necessity to amend the definition o this ordinance as an emergency measure, and it is Pu he / eneral Manager /Editor "Redemption Date" in the onds may Bond Ordinance to pro hereby declared that the approval of this ordinance vide that the Refunded B be called for as an emergency measure is necessary for the prior redemptiop on the earliest possible date after preservation of the public property, health, welfare, the issuance of the Bonds; and peace or safety. WHEREAS, in order to allow for maximum flexibili- Section 6. Fffective Date Raffia and t in order to react quickly in an uncertain econo- It nGcation Pursuant to Section 4.11 of the Subscribed and sworn to before me, a notary public in and for the County of Eagle, State of Colorado this 15th y Charter, this ordinance shall be finally passed on O the date hereof and shall be effective on the date h y ec mbar, 2008. f. This ordinance, as adopted by the Council, da shall be numbered and recorded by the Town Clerk of the Town in the official records of the Town. The ordinance shall be authenticated by the signatures of the w shall be publ shed with n days ofthe date ��` �+► �• S o y hereof as required by the Charter. v (� INTRODUCED AND FINALLY PASS Pamela Joan Schultz ED AJpe EMERGENCE MEASURE AND ORDERED Notary Public a NOTARY <� LISHED in full in the Veil Dally a newspa N general circulation in the Town of Vail by a v 6 to 0, this 16th day of December, 2008 My Commission expires: November 1 , 2011 �°� TOWN OF VAIL, COLORADO PUBLIC Q � ,p Mayor - Attest: C �`' '� Town Clerk Town Clerk Published in the Vail Daily December 20 (2739423) EXHIBIT B VAIL TOWN COUNCIL EVENING SESSION AGENDA VAIL TOWN COUNCIL CHAMBERS 75 S. Frontage Road W. Vail, CO 81657 6:00 P.M., TUESDAY, DECEMBER 16, 2008 NOTE: Times of items are approximate, subject to change, and cannot be relied upon to determine at what time Council will consider an item. 1. ITEM/TOPIC: Citizen Input. (10 min.) 2. Pam Brandmeyer ITEMITOPIC: Appointments to the Commission on Special Events (CSE) and Vail Local Marketing District Advisory Committee (VLMDAC) boards. (10 min.) ACTION REQUESTED OF COUNCIL: 1) Please interview the Commission on Special Events (CSE) applicants at the work session and appoint three applicants to the CSE (terms expire December 31, 2010) at the evening meeting; and 2) Please interview the Vail Local Marketing Board Advisory Council (VLMDAC) applicants at the work session and appoint four applicants to the VLMDAC (terms expire December 31, 2010) at the evening meeting. BACKGROUND RATIONALE: CSE: Members of the CSE shall serve at the will of the Town Council. The CSE shall support the Town Council's goals and objectives and makes decisions in alignment with the Town Council's marketing direction. The mission of the CSE is to support street entertainment and special events for vitality, year -round fun, sense of community and increased quality of experience for guests and residents. The Functions and /or duties of CSE shall include, but are not limited to: hiring and overseeing a director and /or staff, as well as event producers and /or promoters; creating, funding and seeking special events for the Town of Vail; evaluating event applications and event success; submitting an annual budget for operations and events; coordinating the community calendar for special events; seeking out additional funding for special events through sponsorships and donations; evaluating and executing contracts for special events; and all other functions as directed by the Town Council. 7 There are currently three vacancies on the CSE. The Town received 14 ) applications for the vacancies. Three applicants are incumbent members of the CSE (noted by asterisks below). The Council shall interview each applicant at the work session and then appoint three applicants to the CSE at the evening meeting. The applicants are as follows: Brooks Bock, M.D. Dave Chapin* Kyle Denton Danielle Gibson Ron Girotti Ben Hohman Meggen Kirkham* Dan McNutt Keith Ozda Michelle Rampelt Heather Trub* Mia Vlaar Julie Weihaupt James Wilkins I have enclosed an attendance summary for the CSE for your review. VLMDAC: The mission of the VLMDAC is to strengthen the area economy by attracting visitors to Vail in the May to October time frame. Per C.R.S. 29 -5 -111 General powers of district. (1)(g) All applicants must be 'owners of property within the boundaries of the district," which includes by definition corporations or entities which own property "within the boundaries of the district." Should an entity be appointed to this advisory council, it would then be up to that entity to appoint its designee. Additionally, owners of "taxable personal property" will be considered for appointment. The Town received ( 6 ) applications for the vacancies. Four applicants are incumbent members of the VLMDAC (noted by asterisks below). The Council needs to interview each applicant at the work session and then appoint four applicants to the Vail Local Marketing District Advisory Council at the evening meeting. The applicants are as follows: Sarah Franke Ben Hohman Bob Llewellyn* Beth Slifer* Pam Stenmark* Adam Sutner * (Vail Resorts representative reappointment) 8 I have also enclosed an attendance summary for the VLMDAC for your review. RECOMMENDATION: Appoint three persons to the CSE and four persons to the VLMDAC. 3. ITEM/TOPIC: Town Manager's Report. (20 min.) • Economic Stimulus Package Recommendations. • Ford Park Managed Parking '09 Summer Proposal. • ECO Trails Committee Names 2008 Trail Supporters. ACTION REQUESTED OF COUNCIL: Approve, approve with amendments the summer calendar for Ford Park paid parking dates for 2009. BACKGROUND RATIONALE: The 2009 Managed Parking Calendar Schedule for Ford Park is attached. This calendar has been compiled by the Ford Park User Committee. We are requesting your review and approval of the calendar for paid parking dates at Ford Park for the Summer, 2009 schedule. There are currently 38 days of paid parking requested as well as one managed parking date. This calendar is subject to change as more events are added to the various schedules of the user groups at Ford Park. RECOMMENDATION: Approve or approve with amendments, the summer calendar for Ford Park paid parking dates for 2009. 4. Kelli McDonald ITEM/TOPIC: Presentation of Same Store Sales reports in both Ralf Garrison Vail Village and LionsHead during summer 2008 compared to 2007, as well as a preview of market forces affecting travel during the 2008/2009 ski season. (20 min.) ACTION REQUESTED OF COUNCIL: None at this time. BACKGROUND RATIONALE: Town Council has requested a report detailing same store sales for summer 2008 compared to 2007 in the categories of restaurant, retail and lodging. Ralf Garrison of the Advisor Group has compiled the information and will present at this meeting. He will also give a brief overview of market forces affecting travel during the 2008/2009 ski season. STAFF RECOMMENDATION: Hear the presentation, ask questions, and give direction for follow up reports. 5. Judy Camp ITEM/TOPIC: Ordinance No. 32, Series of 2008, an emergency ordinance amending Ordinance No. 20, Series of 2008; prescribing other details in connection therewith; and declaring an emergency. (10 min.) 9 ACTION REQUESTED OF COUNCIL: Approve, approve with deifications, or deny Ordinance No. 32, Series of 2008. BACKGROUND RATIONALE: The Town of Vail issued $8,760,000 of Tax- Exempt Sales Tax Revenue Refunding Bonds in 1998 to refinance certain bonds outstanding at that time. The bonds were issued with interest rates ranging from 4.25% to 4.5% and maturities through 2012. On September 16, 2008, Town Council approved Ordinance No. 20, Series of 2008, authorizing the issuance of Sales Tax Revenue Refunding Bonds, Series 2008 for the purpose of refinancing the outstanding 1998A bonds at a lower interest rate with the same maturity. Issuance of the new bonds has been delayed due to market conditions. Conditions have now improved to the point where it is advisable to issue the bonds. Because of the delay in marketing the bonds, however, the "redemption date" specified in the original ordinance has passed and it is necessary to amend Ordinance No. 20 redefining the redemption date. An emergency ordinance is requested so the bonds may be marketed immediately following Council's approval. STAFF RECOMMENDATION: Approve Ordinance No. 32, Series of 2008. 6. Kathleen Halloran ITEM/TOPIC: Second reading of Ordinance No. 29, Series of 2008, An Ordinance making supplemental appropriations to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, and Debt Service Fund of the 2008 Budget for the Town of Vail, Colorado; and authorizing the expenditures of said appropriations as set forth herein; and setting forth details in regard thereto. (10 min.) ACTION REQUESTED OF COUNCIL: Approve or approve with amendments the second reading of Ordinance No. 29, Series of 2008. BACKGROUND RATIONALE: To be provided in a separate memo. STAFF RECOMMENDATION: Staff recommends that the Town Council approves or approves with amendments Ordinance No. 29, Series of 2008, upon second reading. 7. Bill Gibson ITEM/TOPIC: First reading of Ordinance No. 31, Series of 2008, for prescribed regulations amendments to Section 12 -13, Employee Housing, Vail Town Code, to establish a deed - restriction exchange program, and setting forth details in regard thereto. (25 min.) ACTION REQUESTED OF COUNCIL: Approve Ordinance No. 31, Series of 2008, on first reading. BACKGROUND RATIONALE: On June 3, 2008, the Vail Town Council directed the Community Development Department to prepare amendments to the Vail Town Code to establish an Employee Housing Unit (EHU) deed restriction exchange program. 10 On October 28 2008, the Vail Local Housing Authority of the Town of Vail held a public hearing and reviewed and forwarded a recommendation of approval to the Vail Town Council for the proposed text amendments to the Zoning Regulations. On December 8, 2008, the Planning and Environmental Commission voted 5 -0 -0 to forward a recommendation of approval, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, for prescribed regulations amendments to Section 12 -13, Employee Housing, Vail Town Code, to provide additional regulations establishing a deed - restriction exchange program, and setting forth details in regard thereto. STAFF RECOMMENDATION: Staff recommends the Town Council approves Ordinance No. 31, Series of 2008, as recommended by the Vail Local Housing Authority and the Planning and Environmental Commission, on first reading. 8. Bill Gibson ITEM/TOPIC: First reading of Ordinance No. 33, Series of 2008, for prescribed regulations amendments to Section 11 -10 -7, Open House Signs, Vail Town Code, to allow for amendments to the open house sign regulations, and setting forth details in regard thereto. (25 min.) ACTION REQUESTED OF COUNCIL: Approve Ordinance No. 33, Series of 2008, on first reading. BACKGROUND RATIONALE: At its November 4, 2008, public hearing, the Town Council directed Staff to prepare text amendments to update the Town's open house sign regulations. On December 8, 2008, the Planning and Environmental Commission voted 4 -0 -1 (Kurz recused) to forward a recommendation of approval, with modifications, for prescribed regulation amendments, pursuant to Section 11 -3 -3, Prescribed Regulation Amendment, Vail Town Code, to amend Section 11 -7 -10, Open House Signs, Vail Town Code, to allow for changes to the open house signs regulations, and setting forth details in regard thereto. STAFF RECOMMENDATION: Staff recommends the Town Council approves Ordinance No. 33, Series of 2008, as recommended by the Planning and Environmental Commission, on first reading. 9. Nicole Peterson ITEM/TOPIC: Second reading of Ordinance No. 22, Series of 2008, repealing and re- enacting Ordinance No. 6, Series of 2005, Vail Village Inn, amending and re- establishing the approved development plan for Phase III of Special Development District No. 6, pursuant to Article 12 -9A- 10, Amendment Procedures, Vail Town Code, to allow for the conversion of an existing office and retail space to residential for an addition to an existing dwelling unit, located at 68 Meadow Drive /Lot O, Block 5D, Vail Village Filing 1, and setting forth details in regard thereto. (30 min.) 11 ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny Ordinance No. 22, Series of 2008, on second reading. BACKGROUND RATIONALE: On December 2, 2008, Town Council tabled the item to the December 16, 2008 hearing. On November 4, 2008, Town Council tabled the item to the December 2, 2008, hearing and requested examples of public benefits in other developments. On October 21, 2008, Town Council voted 5 -2 -0 to approve, with conditions, Ordinance No. 22, Series of 2008, on first reading. On October 13, 2008, the Planning and Environmental Commission voted 2 -1 -1 (Kurz opposed, Pierce recused) to forward a recommendation of approval to the Town Council for the proposed amendments for SDD No. 6, Vail Village Inn, Phase III. STAFF RECOMMENDATION: Staff recommends the Town Council denies Ordinance No. 22, Series of 2008, on second reading. 10. Matt Mire ITEM/TOPIC: Second Reading of Ordinance No. 30, Series of 2008, an Ordinance Amending Title 1, Chapter 3, Section 2 of the Vail Town Code by the Addition of the Definition of the Word "Publication "; and Setting Forth Details in Regard Thereto. (15 min.) ACTION REQUESTED OF COUNCIL: Approve, approve with modifications, or deny Ordinance No. 30, Series of 2008, upon second reading. BACKGROUND RATIONALE: The 2009 budget was passed second reading on November 18, 2008. The 2009 budget eliminates funding for publication in the local papers. Section 4.10 of the Town Charter requires publication of ordinances upon their introduction and adoption. The Charter does not define what is required by "publication ". In 2007, the Town spent $19,693 for publication of its ordinances in the Vail Daily, requiring the Town Clerk to increase the office advertising budget during the third supplemental appropriation by an additional $12,000. The Town Clerk has currently spent $19,492 of her 2008 budget on publications of ordinances. STAFF RECOMMENDATION: Approve, approve with modifications, or deny Ordinance No. 30, Series of 2008, upon second reading. 11. Kelli McDonald ITEM/TOPIC: Approval of Resolution No. 27, Series of 2008. Nicole Peterson Vail Economic Development Strategic Plan. (20 min.) 12 ACTION REQUESTED OF COUNCIL: The Vail Economic Advisory Council and Town of Vail, represented by Kelli McDonald, Economic Development Manager are requesting final review of Resolution No. 27, Series of 2008, for the adoption of the Vail Economic Development Strategic Plan. Please see attached Resolution No. 27, Series of 2008. BACKGROUND RATIONALE: The vision and goals of the Vail Economic Development Strategic Plan were gathered from the Vail 20/20 comprehensive plan document and adopted by Town Council November 6, 2007. In order to facilitate the implementation of the adopted vision and goals, the Town Council requested a Vail Economic Development Strategic Plan. Vail Town Council approved the vision, mission and goals of the strategic plan on July 15, 2008. The creation of the plan has been spearheaded by the Economic Development Department and the Vail Economic Advisory Council, with the assistance of the major contributors listed in the plan. The process to complete the Economic Development Strategic Plan involved the following: - An inventory of Vail economic, financial, marketing, and closely related studies, reports and plans. - A SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis conducted by the Vail Economic Advisory Council. - Research and gathering of similar community economic development studies, plans and tools. (Special thank you to the communities of Breckenridge, Park City and Steamboat Springs) - A thorough analysis of the inventory to determine the long -term implications of such data. - A creative interpolation of the vision and goals adopted by the community and Council, combined with the inventory, research and analysis, to create a realistic and achievable Economic Development Strategic Plan for the Town of Vail. - Vision, mission and goals approved by Vail Town Council July 15, 2008 - Adopted by Vail Economic Advisory Council November 11, 2008 - Presented to Commission on Special Events November 18, 2008 - Presented to Vail Local Marketing District Advisory Council November 20, 2008 - Presented to Planning and Environmental Commission November 24, 2008 - Presented to Town of Vail Directors Staff December 4, 2008 13 STAFF RECOMMENDATION: The Economic Development Department recommends that the Vail Town Council approves Resolution No. 27, Series of 2008, for the adoption of the Vail Economic Development Strategic Plan. 12. ITEMITOPIC: Adjournment. (9:15 p.m.) (ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE) THE NEXT VAIL TOWN COUNCIL REGULAR WORK SESSION WILL BEGIN AT TBD, TUESDAY, JANUARY 6, 2009 IN THE VAIL TOWN COUNCIL CHAMBERS. 14