HomeMy WebLinkAbout2021-05-25 VLHA MinutesVail Local Housing Authority Minutes 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 / Inclusionary Zoning Update Presenters: Andrew Knudtsen & Rachel Shindman, Economic Planning Services
EPS reviewed the most recent updates as shown on their presentation. Questions for the Authority to consider. 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 VLHA? 3. Does a down valley option continue to be relevant? 4. Note need to include administrative fee, if desired 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 onsite housing from
developers. Summary of options based on most expensive to least expensive mitigation
1. Fee-in-lieu 2. Create down valley restrictions, would need approval 3. Restrict a unit within the town, incentivize 4. Create a unit within town, incentivize What kind of mitigation rate is best, commercial or residential? The Authority believes the greatest burden should be on residential development. Per Moffet the Town has never had a 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 review if splitting is possible, 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.
EPS 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 146 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 5:00PM (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