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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.