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HomeMy WebLinkAbout2021-06-29 TROC Agenda TOWN OF VAI t Timber Ridge Operating Committee Agenda Tuesday, June 29, 2021 8:30AM — 9:30AM Zoom Virtual Meeting 75 South Frontage Road West, Vail, CO 81657 Members Present: Members Absent: Scott Robson George Ruther Kathleen Halloran Greg Hall John King Corum: Brandon Crow Ericka Weston Staff: Lynne Campbell Agenda: 1. Call to Order 2. Meeting Results May 25, 2021 MOTION: SECOND: VOTE: 3. Residences at Main Vail Operating Committee 4. Other Business 5. Adjournment - Estimated 9.30AM MOTION: SECOND: VOTE: The next scheduled meeting of the Timber Ridge Operating Committee is July 27, 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 Agenda Tuesday, May 25, 2021 8:30AM — 9:30AM Zoom Virtual Meeting 75 South Frontage Road West, Vail, CO 81657 Members Present: Members Absent: Scott Robson John King Kathleen Halloran Greg Hall George Ruther Corum: Brandon Crow Ericka Weston Staff: Lynne Campbell Agenda: 1. Call to Order Meeting called to order at 8:30AM. A quorum is present, King and Weston are absent. 2. Meeting Results March 30, 2021 and April 27, 2021 MOTION: RUTHER SECOND: HALL VOTE: 3-0 APPROVED 3. Vail Resorts Lease Vail Resort's new lease has been sent to VR with copy to Weston at Corum. Ruther will forward a copy to Crow. Terms: 1 year for 37 units and 27 parking spaces, $1,535 / month, effective June 1, 2021 through May 31, 2022. Robson requested an onsite visit prior to VR move ins. 4. Timber Ridge Redevelopment TR redevelopment currently involves Triumph Development. Discussion revolved around financing. Jones-Lan-LaSalle are reviewing Middle Creek Lot finances again to determine where the margins are to determine if the deal can ink. Discussion revolved around financing. Ruther will check with Gorman regarding if they would move their Lions Ridge Apartments purchase option up from 2025. Can the Town and Triumph move forward with Middle Creek Lot 3 / Residences at Main Vail project and can the Town get Triumph out of TR redevelopment deal. Next steps for Middle Creek Lot 3 / Residences at Main Vail Review JLL work product • Share information with Council at the June 1, 2021 meeting • Have internal meeting • Meet with Triumph next week, June 1 • Entitlements from PEC/DRB expected by June 16, 2021 5. Other Business None discussed 6. Adjournment - Estimated 9.07AM MOTION: HALL SECOND: RUTHER VOTE: 3-0 APPROVED The next scheduled meeting of the Timber Ridge Operating Committee is June 29, 2021. Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711.