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HomeMy WebLinkAbout2021-01-26 TROC Results TOWN OF VAI t Timber Ridge Operating Committee Meeting Results Tuesday, January 26, 2021 8:30 — 9:30 AM Zoom Meeting 75 South Frontage Road West, Vail, CO 81657 Members Present: Members Absent: Scott Robson Kathleen Halloran John King George Ruther Greg Hall Corum Real Estate: Ericka Weston Brandon Crow Staff: Lynne Campbell Agenda: 1. Call to Order at 8.32AM 2. Review and Approve November 24, 2020 Meeting Results MOTION: HALL SECOND: KING VOTE: 3-0 VOTE APPROVED 3. Vail Resorts Master Lease Renewal Terms and Recommendation Committee discussed Vail Resorts Timber Ridge lease terms, monthly rental rate and timelines. VR seeking a 3-year lease, 2021-2024, to be renegotiated every 3 years. New VR rental rates begin on May 1, 2021, $1,535/unit 3 pp unit a total of 55 units. Recommendation to Council: 3-year lease term with adjustable renewals for 55 units and 55 parking spaces, ensure provision allowing ability to vacate lease if redevelopment occurs. 55 units, same number of parking spaces, monthly rate, $1,535 effective May 1, 2021. Stay at 55 units, lease rates comparables to others in valley with management cost absorbed by VR. MOTION: HALL SECOND: RUTHER VOTE: 4-0 APPROVED 4. Timber Ridge Online Rental Payment Proposal and Supplemental Committee discussed option allowing online payment system. Corum provided Pinewood Village II example, www.pinewoodvillageii.com . Currently TR doesn't have website. Cost to set up and maintain would be roughly $98/mo. Resident pays bank fee. Corum uses website hosted by Apartments247.com. Resident's and potential renters can access information electronically, submit workorders (currently submitted via phone calls or email) and pay electronically if they choose. Cost will come out of the TR operating account. If Corum doesn't think they can cover it in the normal operating budget items finance will include it on the March supplemental. KH in support via email response. MOTION: HALL SECOND: KING VOTE: 4-0 APPROVED 5. Other Business: None discuss. 6. Adjournment (9.30 AM estimated) Meeting adjourned at 9:26AM. MOTION: RUTHER SECOND: ROBSON VOTE: 4-0 APPROVED Future Agenda Items • Timber Ridge Redevelopment Next Meeting February 23, 2021 Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48-hour notification dial 711.