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Home My WebLink About2019-03-12 VLHA Meeting Results Vail Local Housing Authority Agenda March 12, 2019 2:00 PM Town Council Chambers 75 S. Frontage Road -Vail, Colorado, 81657 1.Call to Ordercalled Lindstrom call the meeting to order at 2:07PM, all members present. Meza departed meeting at 3:15PM. 2.Citizen Participation: No one from the public is present to comment. 3.Approval of Minutes 3.1.VLHA February 26, 2019 Meeting Results MOTION: WilkinsSECOND: MezaVOTE: 3-0Approved (McDougall and Moralesabstained) 4.Main Agenda 4.1.Remonov & Co, Inc.-The Hive Presentation Presenter: Makenzie Mueller The presenter wasnot present. 4.2.Initial Review of Updated Economic Value of Deed-Restricted Housing in Vail Report Presenter: Andrew Knudtsen and David Schwartz, Economic Planning Services (EPS) Andrew Knudtsen and David Schwartz from EPSpresented update. Knudtsen reviewed project objectives based on the previous housing study. Discussion continued between the Board and EPS. *How do we message technical information?We wantgrounded in data that gets traction. *What are broader messages to council? *What are key messages or define them? *What are we missing? *What do we want amplified? Discussion between EPS and the Board ensued. Next steps: Update terminology Research / data collection Interviews with store managers 2018 data for Town of Vail employment from State Updated Town of Vail EHU data Impact analysis Data to use: 2018 community survey Employer survey VMT-vehicle miles travelled 4.3.Discussion of East Vail ParcelDraft Term Sheet Presenter: George Ruther, Housing Director Ruther summarized and reviewedthe options for development on the East Vail parcel. th On March 19the Council will host public session to discuss the draft term sheet. The draft term sheet has been put together for the discussion. Topics include the Council’s desire to see 100% of housing on the East Vail propertydeed- restricted.Why is this topic being discussed now when the applicant hasn’t submitted a development application. The Town and applicant are at cross roads and applicant needs a decisionon which plan option to pursue.The west portion of the property is zoned Housing requiring at least 70% of the square footagefor housing. 30% can be used for free market housing. IfTown was to participate in the development options include: Plan A= 100% deed-restricted 140 1 & 2 bedroom for rent inclusive of the 36 Vail Resorts housing units. This is an obligation of Triumph’s purchase from Vail Resorts. The Town purchases entire 23 acres (NAP)and5.56acres (Housing) for $4M.Triumph signs 10 year ground lease with an obligation to purchase the housing parcel for $2.5Mand on or before end of year 10 the Town recovers$2.5Mandacquires ownership up to 40 resident occupied deed-restrictions.While Triumph is under the obligation to pay will make annual payments of $5K matching grant for Bighorn sheep awareness, educationand habitat restorationand other $5K comes from TOV or other organizations.Lease includes cure rights should Triumph default. Ultimately,the Town will own the open space. Town has first right of deed restriction. Order of leasing preference proposed to be Town of Vail government employees, personsemployed 30 hours per week in Vail, licensed or working in Vail, Eagle County,non qualified persons similar to Lion’s Ridge Apartments. Triumph will make a $15K payment per year annually beginning at year 10. The Town would use $750K to $1Mtotal in Vail InDEED funds from 2019 appropriations and contingent upon future year’s appropriation. All other years are contingent upon budget appropriation. Council is working to figure deal, how funded next step. Lindstrom asked if Triumph payments come back to the Vail InDEEDprogram. Ruther said that hadn’t been determined. Plan B= 70% deed-restricted and 30% free market housinginclusive of the 36 Vail Resorts housing units.If Triumph goes to plan B the Town steps outand Triumph continues to develop by right.Following this option the development changes from a for- rent to a for-sale development with Vail Resorts rental units remaining the same. Vail Resorts could apply theirunits toward any future housing obligations. Wilkins made a motioned in support of a letter to Council to use Vail InDEED funding for the East Vail parcel. MOTION: WilkinsSECOND:MoralesVOTE: 5-0Approved 4.4.Follow Up of Communications on Long Term Funding Sources Presenter: George Ruther, Housing Director Ruther reviewed the draft talking points provided by David Flaherty from Summit Information Services. 4.5.Review Recommendation to Release a Type II Deed Restriction from 2642 Kinnikinnick Court. Presenter: George Ruther, Housing Director Ruther summarized the release which was established anddue to the terms of the deed restrictionit appears the restriction may be released.This request may end up onMarch th 19Council meeting. This release does not require VLHA recommendation. 4.6.Resolution No. 8, Series of 2019, a Resolution Approving a Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Condominium Unit 4, Lion's Mane Phase II, Condominium Units, Eagle County, Colorado, with a Physical Address of 1063 Vail View Drive Unit 4. Presenter: Lynne Campbell, Housing Coordinator Wilkins made a motion to approved Resolution No.8, Series of 2019 a Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Condominium Unit 4, Lion's Mane Phase II, Condominium Units, Eagle County, Colorado, with a Physical Address of 1063 Vail View Drive Unit 4. MOTION: WilkinsSECOND: MoralesVOTE: 5-0Approved 4.7.Resolution No. 9, Series of 2019, a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Das Schone Filing 2, Block G, Lot 2B, Eagle County Colorado with an Address of 2458 Garmisch Drive Unit B. (upper) Presenter: Lynne Campbell, Housing Coordinator Table to March 26, 2019 MOTION: WilkinsSECOND: MoralesVOTE: 5-0Tabled 4.8.Resolution No. 10, Seriesof 2019, a Resolution Approving the Purchase of a Deed Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as Vail Das Schone Filing 2, Block G, Lot 2B, Eagle County Colorado with an Address of 2458 Garmisch Drive Unit B. (lower) Presenter: Lynne Campbell, Housing Coordinator Table to March 26, 2019 MOTION: WilkinsSECOND: MoralesVOTE: 5-0Tabled 5.Executive Session Wilkins made a motioned to exit the regular sessionand enter executive session. MOTION: WilkinsSECOND: MoralesVOTE: 4-0Approved 5.1.Executive session per 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. Moralesdeparted themeeting after the executive session remaining intheroom isWilkins, Lindstrom, McDougall from VLHA and Ruther and Campbell from staff. 6. Any Action as a Result of Executive Session Wilkins recommended staff pursue the 2 Vail InDEEDapplications. MOTION: WilkinsSECOND: McDougallVOTE: 3-0Approved (Meza and Morales left meeting early) th Ruther reminded the Board the East Vail parcel will be discussed at the Town Council March 19 meeting. As well the Town’s community meeting begins at 5PM tonight. The VLHA and Town Councilhave been nominated for a Housing Colorado award with the event occurring on the th evening of May 9at the Four Seasons downtownDenver. 7.Adjournment MOTION: McDougallSECOND:WilkinsVOTE: 3-0 (Meza and Morales left meeting early) 8. Future Agenda Items Housing Data East Vail Parcel Update West Vail Master Plan Discussion Housing Sites Civic Area Plan 9.Next Meeting Date March 26, 2019 Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail websitewww.vailgov.com.All housing authority meetings are open to the public. Times and order of agenda are approximate, subject to change, and cannot be relied upon to determine at what time the Vail Local Housing Authority will discuss an item. Please call (970) 479-2150 for additional information. Please call 711 for sign language interpretation 48 hours prior to meeting time. Housing Department