HomeMy WebLinkAbout2021-01-26 TROC Agenda TOWN OF VAI t
Timber Ridge Operating Committee
Meeting Agenda
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
John King
George Ruther
Greg Hall
Kathleen Halloran
Corum Real Estate:
Ericka Weston
Brandon Crow
Staff:
Lynne Campbell
Agenda:
1. Call to Order
2. Review and Approve November 24, 2020 Meeting Results
MOTION: SECOND: VOTE:
3. Vail Resorts Master Lease Renewal Terms and Recommendation
MOTION: SECOND: VOTE:
4. Timber Ridge Online Rental Payment Proposal and Supplemental
MOTION: SECOND: VOTE:
5. Other Business:
6. Adjournment (9.30 AM estimated)
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.
TOWN OF VAI t
Timber Ridge Operating Committee
Meeting Results
Tuesday, November 24, 2020
8:30 — 9:30 AM
0o eei
75 South Frontage Road West, Vail, CO 81657
Members Present: Members Absent:
John King Scott Robson
George Ruther, joined late
Greg Hall
Kathleen Halloran
Corum Real Estate: Vail Resorts:
Ericka Weston Jeremy Stephani, Senior Manager Employee Housing
Brandon Crow Zach Yeo, Employee Housing Manager
Staff:
Lynne Campbell
Agenda:
1. Call to Order
The meeting was called to order at 8.33AM with a quorum present.
2. Review and Approve November 10, 2020 Meeting Results
MOTION: HALLORAN SECOND: KING VOTE: 3-0 APPROVED
3. Vail Resorts Lease Addendum Discussion
Jeremy Stephani, Vail Resorts and Ericka Weston, Corum Real Estate
The Committee reviewed the recommended addendum updates noted in the
redlined document as discussed between Corum and Vail Resorts. Changes
included fees, snow removal responsibilities, work order. Rental rates will be
updated for VR units in May at lease renewal to match Corum unit rates.
Snow removal: Corum is point of contact and responsible for removal and will enlist
VR if needed.
Work Orders will be directed to the appropriate entity for the unit. VR buildings K-
P and Corum the remaining units. Orders can be submitted via email, phone or
hotline #. Reporting from VR will be submitted once a month to Corum and will
include unit #, work done and when closed out.
VR and Corum agreed no onsite maintenance required by VR on weekends as
Timber Ridge office is not open.
VR will do their own unit change overs.
Discussion included confirming lease language to consistently list "the Town" or
"Lessor".
Next steps will include Corum redlining the lease agreement with changes, routing
to the Committee. Committee will review with the Town attorney. Upon approval of
amendments a final version will be forwarded to VR for execution and Town will
sign last.
4. Rental Increases
Corum unit rental rates increase in January 2021 with VR units following on May
1, 2021.
5. Other Business:
The Committee and Corum agreed to meeting on December 29, 2020 if there are
any updates ready for discussion otherwise the meeting will be cancelled.
6. Adjournment (9.30 AM estimated)
Future Agenda Items
Next Meeting December 29, 2020
Please call 970-479-2136 for additional information. Sign language interpretation
is available upon request with 48-hour notification dial 711.