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HomeMy WebLinkAbout2021-06-08 VLHA Agenda.Revised Vail Local Housing Authority Agenda TOWN OF j' June 8, 2021 3:00 PM Virtual Meeting 75 S. Frontage Road -Vail, Colorado, 81657 ....... ......... ........ ......... ... ......... .............................. . 1. Call to Order 1.1. Zoom Meeting 1 (call to order pre-executive session) 1.2. Zoom Meeting 2 (post executive session) 1.3. Call to Order 5 Min. 1.4. VLHA Vote for Chairman 5 Min. 2. Citizen Participation 2.1. Citizen Participation 5 Min. 3. Approval of Minutes 3.1. VLHA May 11, 2021 Minutes 5 Min. 3.2. VLHA May 25, 2021 Minutes 5 Min. 4. Main Agenda 5. Matters from the Chairman and Authority Members 5.1. Matters from the Chairman and Authority Members 10 Min. Presenter: Steve Lindstrom, Chairman 6. Executive Session 6.1. Executive Session per C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, 30 Min. acquisition, lease, transfer or sale of real, personal or other property interests and to determine positions relative to matters that may be subject to negotiations regarding: Vail InDEED applications and deed restrictions. Presenter: Lynne Campbell, Housing Coordinator 7. Any Action as a Result of Executive Session 7.1. Action As Results of Executive Session 5 Min. 8. Adjournment 8.1. Adjournment 5:OOPM (estimated time) 9. Future Agenda Items 9.1. • Land Banking (sale of GRFA) • Public Health Housing Incentive, Eagle County Health • Joint VLHA, Town Council, Planning & Environmental Commission Meeting Regarding Commercial Linkage/Inclusionary Zoning and Adopted Housing Policy Review • Investment Banker Discussion - Long Term Housing Funding 10. Next Meeting Date 10.1. Next Meeting Date June 22, 2021 Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.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 TO j� ' VAIL LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: VLHA May 11, 2021 Minutes ATTACHMENTS: Description VLHA May 11, 2021 Vail Local Housing Authority Minutes TOF VAOWN May 11, 2021 3:00 PM Virtual 75 S. Frontage Road -Vail, Colorado, 81657 PRESENT ABSENT Steve Lindstrom Mary McDougall James Wilkins Molly Morales Greg Moffet Staff George Ruther, Housing Director Lynne Campbell, Housing Coordinator 1. Call to Order 1.1. Zoom Meeting 1 (call to order pre-executive session) 1.2. Zoom Meeting 2 (post executive session) 1.3. Call to Order A quorum being present, Lindstrom called the meeting to order at 3:09PM. 2. Citizen Participation 2.1. Citizen Participation No public comments. 3. Matters from the Chairman and Authority Members 3.1. Matters from the Chairman and Authority Members Presenter: Steve Lindstrom, Chairman Lindstrom, Eagle County is about to declare individuals making 100% of AMI is now considered low income. Ruther reminded the Authority has the ability to take an ownership interest in a development entity of a development project to allow for a real estate property tax exemption to be granted. An exemption approval is pending the Authority's ability to provide evidence the development serves persons of low income. Colorado statue for low income is undefined. It has been left up to Authority's to define their definition of low income. The statue states persons of low and moderate income. Commissioners took under advisement which is what was in the Vail Daily article. Commissioners are looking to put a tighter framework of low income. An exemption would not extend beyond 15 years. The Eagle County Housing and Development Authority (ECHDA) recommended give Commission some latitude. Magellan Strategies and Summit Information Services put out statewide poll regarding housing issues. Results noted more than 1/2 respondents want government more involved in housing. Strong interest in rent restrictions. Lindstrom is not in favor of any rent controls. Morales acknowledged the valley is experiencing extremely high rental and sales rates. Colorado Sun published an article regarding resort area housing issues. Discussion ensued between the members regarding the overall housing issues in the United States and the valley. Moffet made a motion to leave the regular meeting and enter executive session. MOTION: MOFFET SECOND: MORALES VOTE: 5-0 APPROVED 4. Executive Session 4.1. Executive Session per C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, acquisition, lease, transfer or sale of real, personal or other property interests and to determine positions relative to matters that may be subject to negotiations regarding: Vail InDEED applications and deed restrictions. Presenter: Lynne Campbell, Housing Coordinator 5. Any Action as a Result of Executive Session 5.1. Action As Result of Executive Session Moffet made a motion for staff to continue with Vail InDEED negotiations as discussed in executive session. MOTION: MOFFET SECOND: MORALES VOTE: 5-0 APPROVED 6. Adjournment 6.1. Adjournment 5:OOPM (estimated time) Moffet motioned to adjourn the meeting at 3:50PM. MOTION: MOFFET SECOND: MORALES VOTE: 5-0 APPROVED 7. Future Agenda Items 7.1. • Land Banking (sale of GRFA) • Public Health Housing Incentive, Eagle County Health • Joint VLHA, Town Council, Planning & Environmental Commission Meeting Regarding Commercial Linkage/Inclusionary Zoning and Adopted Housing Policy Review Investment Banker Discussion - Long Term Housing Funding 8. Next Meeting Date 8.1. Next Meeting Date May 25, 2021 Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.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 TO j� ' VAIL LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: VLHA May 25, 2021 Minutes ATTACHMENTS: Description VLHA May 25, 2021 Minutes Vail Local Housing Authority Minutes TOF VAOWN May 25, 2021 3:00 PM Virtual 75 S. Frontage Road -Vail, Colorado, 81657 PRESENT ABSENT Steve Lindstrom Mary McDougall James Wilkins Molly Morales Greg Moffet Staff George Ruther, Housing Director Lynne Campbell, Housing Coordinator 1. Call to Order 1.1. Zoom Meeting 1 (call to order pre-executive session) 1.2. Zoom Meeting 2 (post executive session) 1.3. Swearing in Vail Local Housing Authority Member Mary McDougall Tammy Nagel, Town Clerk swore in McDougall for a five year term beginning June 1, 2021 through May 31, 2026. 1.4. Call to Order A quorum being present, Lindstrom called the meeting to order at 3:05PM. 2. Citizen Participation 2.1. Citizen Participation Chris Neuswanger mortgage broker provided feedback regarding Moffet's comments at the last meeting regarding the Edwards River Park development project. Neuswanger noted the opposition to the project had nothing to do with employee housing rather the density of the project. 3. Approval of Minutes 3.1. VLHA Minutes April 27, 2021 MOTION: MOFFET SECOND: MC DOUGALL VOTE: 3-0 AP Wilkins and Morales abstained 4^ Main Agenda 4.1. Commercial Linkage / |ncJuaionory Zoning Update Presenters: Andrew |{nudtsen & Ranhe| Qhindnnon. Economic Planning Services EPS reviewed the most recent updates as shown on their presentation. Questions for the Authority toconsider. 1. What is an appropriate policy goal, as expressed with a mitigation rate, for the two programs? 2. Does the differential between fee and unit acquisition/development address the original goals of the \/LHA? 3. Does a down valley option continue toberelevant? 4. Note need t0include administrative fee, ifdesired Mitigation models, fee options and how they may be calculated were discussed. VLHA concerned fee collection isn't beneficial to purchase properties since today's market has nothing currently available. It is better to obtain onaite housing from developers. Summary of options based on most expensive toleast expensive mitigation 1. Fee-in-lieu 2. Create down valley restrictions, would need approval 3. Restrict a unit within the town, inomnUvize 4. Create a unit within town. inoenUvize What kind of mitigation rate is best, commercial or residential? The Authority believes the greatest burden should be on residential development. PerMVffet the Town has never had o policy to require residential mitigation. VLHA asked if there is an option to split fees based on area of development? EPS will do a quick naviavv if splitting is poaaib|a, if not obvious they will continue with one rate. Knudsten summarized: there shouldn't be a discount for acquiring units, start at 50% for residential mitigation and make commercial the mitigation rate more modest. EP8 will return with updates at the June 8. 2021 meeting. 5' Matters from the Chairman and Authority Members 5.1. Matters from the Chairman and Authority Members Presenter: Steve Lindstrom, Chairman Lindstrom stated the Authority needs to vote for a chairman at the next meeting. Marriott Residence Inn at the former Roost Lodge site has begun construction for 140 accommodation units and 5 employee housing units. Per Moffet due to real estate values going up would be to have an equity share of restrictions. Wilkins, who serves on down payment assistance committee, said they are anticipating increasing from $15K to a higher number recognizing today's cost to purchase. Campbell advised the Authority not only are for-sale homes having bidding wars so too the rental market is experiencing the same issue. 6. Executive Session 6.1. Executive Session per C.R.S. §24-6-402(4)(a)(e)- to discuss the purchase, acquisition, lease, transfer or sale of real, personal or other property interests and to determine positions relative to matters that may be subject to negotiations regarding: Vail InDEED applications and deed restrictions. Presenter: Lynne Campbell, Housing Coordinator There were no new Vail InDEED applications for review. 7. Any Action as a Result of Executive Session 7.1. Action As Result of Executive Session No action taken. 8. Adjournment 8.1. Adjournment 5:OOPM (estimated time) Moffet motioned to adjourn the meeting at 4:57PM. MOTION: MOFFET SECOND: MC DOUGALL VOTE: 5-0 APPROVED 9. Future Agenda Items 9.1. • Land Banking (sale of GRFA) • Public Health Housing Incentive, Eagle County Health • Joint VLHA, Town Council, Planning & Environmental Commission Meeting Regarding Commercial Linkage/Inclusionary Zoning and Adopted Housing Policy Review • Investment Banker Discussion - Long Term Housing Funding 10. Next Meeting Date 10.1. Next Meeting Date June 8, 2021 Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail website www.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