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HomeMy WebLinkAbout2019-06-25 TROC Meeting Agenda Timber Ridge Operating Committee Agenda Tuesday, June 25, 2019 8:30 – 9:30 AM Town of Vail Municipal Administration Conference Room 75 South Frontage Road West, Vail, CO 81657 Members Present: Members Absent: Patty McKenny Kathleen Halloran Greg Hall George Ruther John King Kathy Tran, Timber Ridge Cicely Crampton, Corum Agenda: 1. Review and Approve May 28, 2019 Meeting Results 2. Master Lease Amendment Status 3. Building M Renovation Update, Vail Resorts Comments 4. Manager position opening in July/August 5. Rockfall update, Greg Hall 6. Adjournment The next scheduled meeting of the Timber Ridge Operating Committee is July 30, 2019. Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711. Timber Ridge Operating Committee Results Tuesday, May 28, 2019 8:30 – 9:30 AM Town of Vail Municipal Administration Conference Room 75 South Frontage Road West, Vail, CO 81657 Members Present: Members Absent: Kathleen Halloran Patty McKenny Greg Hall George Ruther John King Cicely Crampton, Kathy Tran, Timber Ridge Corum Real Estate The meeting was called to order at 8:35 a.m. Agenda: 1. Review and Approve April 30, 2019 Meeting Results MOTION: Hall SECOND: King VOTE: 4-0 Approved 2. Master Lease Amendment Status Forward lease to Matt Mire for final review and approval. Sign if approved by Mire. MOTION: Hall SECOND: Halloran VOTE: 4-0 Approved 3. Building M Renovation Budget, Scope of Work Cicely provided update. Less than 10 units need full scope of work. Kathy will email contract to King May 29th. Labor Day is target start date with November 1 completion. Corum will provide drawings , King will submit to building department. 4. Property Signage, Kathy Tran Full sign package is $2,400. There is budget shortage due to early vacancy. Corum feels signage is necessary. Per King there is budget in capital to cover cost. MOTION: Hall SECOND: Ruther VOTE: 4-0 Approved 5. Rockfall update, Greg Hall Hall noted an engineer is coming to reevaluate and will also look at the Eastern side. He will provide an update at the June meeting. 6. Timber Ridge Redevelopment Discussion Ruther provided an update regarding meeting with Gorman & Co. Their proposal shows the following options: 100% rental, for sale and rental or for sale deed restricted 3 story apartments with surface and multi level structure parking, 1.6 spaces per home. The proposal is for a total of 215 homes replacing the current 96 units. An office would be incorporated onsite. Total debt remaining is 8.5-9M. Pay off is in 20 years. Questions: • What happens regarding remaining debt? Currently there are two forms of debt, (one) mold remediation with $1.9M remaining and (two) debt service on the purchase. • Is there a land lease or purchase? Per Ruther this is for discussion. Gorman’s preference is to own the land. Lion’s Ridge apartments has an option to purchase or a long term lease. • How does the Town let others in the process vs. sole proprietary? • Is there something else the Town wants? • Just housing or other options? King thinks it is short sited to get rid of the land. Next steps: • Discuss with Council o Guiding principles o Debt reduction • Use RFQ vs. RFP for qualifications. The Town will outline goals and facts. List Town needs vs. wants along with current debt TROC is good with proactive redevelopment approach and approved 4-0. 7. Adjournment The next scheduled meeting of the Timber Ridge Operating Committee is June 25, 2019. Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711. From:Cicely Crampton To:Lynne Campbell Cc:Kathy Tran Subject:FW: Master Lease Timber Ridge | M Building Renovation Date:Thursday, June 20, 2019 12:04:37 PM Attachments:image001.pngimage002.pngimage003.pngimage005.pngimage004.png Hi Lynne! Please add the following VR input regarding 2019 renovations to the agenda for next week. Thanks! Cicely Crampton, CAPS, NPCC Regional Manager - Multifamily From: Zachary Yeo <Zyeo@vailresorts.com> Sent: Thursday, June 20, 2019 9:18 AM To: Kathy Tran <Kathy.Tran@corumrealestate.com> Cc: Cicely Crampton <Cicely.Crampton@corumrealestate.com>; Jeremy Stephani <Jbstephani@vailresorts.com>; Todd Anderson <Taanderson@vailresorts.com> Subject: Master Lease Timber Ridge | M Building Renovation Good morning Kathy, I want to touch base regarding Building M Renovations and where Vail Resorts currently stands.   After discussions with my Sr. Manager/VP of Human Resources/TOV, the Fall 2019 schedule for M Building Renovation as you suggested two weeks ago is not possible as it will be too impactful to our business. *Reason being; 1. All current Resident Licenses do not expire until October 31st, 2019 that live in M Building. Meaning we cannot guarantee any units empty until November 1st, even then the units will not be properly handed over to Corum (housekeeping, maintenance, etc.). 2. Vail Mountain announced an opening date for November 15th, which means we are anticipating our occupancy will be higher in early season. 3. Providing the entire M Building for 45 days this Fall per the ML is not possible due to business needs. 4. Jeremy and I offered to shorten our license terms for M building residents this summer in order to meet a fall renovation schedule but that was declined by you in our April Meeting so we agreed on next summer for completion. *Note: We are still open for a contractor to complete work that we approved while units are occupied (interior doors/interior door frames replacement, kitchen countertops replacements, disposals to be removed, exterior doors being replaced) 5. Summer 2020 Renovation provides the lowest risk and also provides Corum/TOV time to find a fully committed contractor; this will also align with the Master Lease outline of notice of renovation schedule by December 31st. If you are wanting a Fall 2019 Renovation, the project scope with all project details will need to be submitted ASAP for our approval. If you have any questions, please reach out to myself, Jeremy or Todd for more clarity. Thanks! Zach Yeo, SHRM-CP Property Manager, Employee HousingFirst Chair ApartmentsTimber Ridge & Middle Creek ApartmentsVail CondosO: 970-754-3671 | C: 970-470-9051zyeo@vailresorts.com Welcome to your new HR – Making your life easier! Learn More & Get Help | Direct Connect The information contained in this message is confidential and intended only for the use of the individual or entity named above, and may be privileged. Any unauthorized review, use, disclosure, or distribution is prohibited. If you are not the intended recipient, please reply to the sender immediately, stating that you have received the message in error, then please delete this e-mail. Thank you. This email has been scanned for spam and viruses by Proofpoint Essentials. Clickhere to report this email as spam. 195 Lodgepole Circle, Parachute, CO 81635 Office: (970) 987-4247 Fax: (970) 712-5715 Budgetary Proposal June 24, 2019 To: City of Vail Attention Greg Hall Project: Timber Ridge Village Rockfall Mitigation, Vail, CO RE: Rockfall Mitigation – Proposal 2019-023 Mr. Hall, Rock Solid Solutions is pleased to provide this proposal for the stabilization of the rock outcroppings on the ridge above the Vail Timber Ridge Village Site off Lions Ridge Loop, North Vail Colorado. This proposal is based off the HP Kumar Rockfall Hazard Review dated November 12, 2018 and numerous site visits performed by Don Berger of Rock Solid Solutions. Rock Solid Solutions is proposing cable net drape systems to stabilize the nine (9) different mitigation areas identified in the attachments and is a supplement (June 2019) to the earlier HP Kumar report. The cable net system will be anchored to stable rock masses around the perimeter of the outcropping with the use of rock anchors. In some cases, a cable lashing system will be installed across the face of the rock outcropping. The cable lashing system will allow Rock Solid Solution’s personnel to tension the cable net system to the rock anchors further stabilizing the cable net system. Due to the remote location of the rock outcropping, all of the equipment and materials required for the installation of the cable net system will be mobilized to the site with the use of a helicopter and crane. RSS is anticipating multiple helicopter mobilizations due to the locations of six (6) of the rockfall zones. Three (3) of the rockfall areas identified appear to be within reach of a large crane. All work will be done remotely and completed with hand operated pneumatic drills, compressors and grouting equipment. All cable netting and hardware are galvanized for corrosion protection. In addition, the cable netting and hardware can be painted a color that matches the existing geology in the area, if necessary. Please note that during typical forest fire seasons in the rocky mountain west helicopters for this type of work may be unavailable during the months of May through October. It is estimated that the work can be completed in approximately 45-54 working days. Please see the prices and clarifications that follow. Vail Rockfall Mitigation Project Timber Ridge Village Rockfall Mitigation, Vail, CO Proposal 2019-023 2 Vail Affordable Housing – Rockfall Mitigation Item Description Estimated Cost 1 Mobilization *equipment, crew and material $7,500 2 Cable Net Stabilization Systems *Nine (9) Rockfall Zones Identified by HP Kumar $275,000 - $325,000 Conditions/Clarifications:  Pricing in this proposal is based on one mobilization of RSS crew, equipment and materials. Multiple mobilizations of the helicopter and crane is anticipated during the operations.  This proposal is conditioned upon having a helicopter of sufficient size available for use during the work schedule (Summer).  Pricing is based on having a staging area for equipment, crew, materials, crane and helicopter loading zone close to the location of the project (Lions Ridge Loop Rd).  Pricing is based on staging equipment (air compressor, material and pneumatic tools) on Lions Ridge Loop Road and/or on the slope at each rock outcropping for the duration of the project.  All survey and layout of the specific rock blocks is to be coordinated and completed by others (HP Kumar) at no additional cost to Rock Solid. Layout may be required several times during the stabilization process to ensure that the stabilization systems does not encroach other stable blocks.  Pricing is based on a clean source of water being provided to Rock Solid for the grouting operations for the installation of the ground anchors. A clean out sump will be required for the grouting operations, preparation and cleanout of the grout sump area shall be provided at no cost to RSS. Pricing has assumed that the grouting operations facilities will not have to be relocated for the duration of Rock Solid’s work.  Reasonable access to the work area will be provided at all times for Rock Solid’s equipment, crew and material deliveries.  Pricing includes ½” cable nets, rock anchors and all necessary hardware and accessories. Pricing includes galvanized cable nets, rockfall mesh and hardware.  No environmental constraints beyond those discussed or provided have been assumed in the pricing. If any environmental issues develop, the price for each issue will be negotiated.  Client to provide sanitary facilities on-site at no additional cost to Rock Solid Solutions. Vail Rockfall Mitigation Project Timber Ridge Village Rockfall Mitigation, Vail, CO Proposal 2019-023 3  All site drainage and/or dust control, if necessary to be completed by others at no cost to Rock Solid.  All required easements and permits to be in place prior to the mobilization of Rock Solid’s equipment and crew.  The scope of work in this proposal can start within 4-5 weeks from the date of acceptance. This proposal is to be finalized and negotiated upon Rock Solid Solutions and the Client joining into a mutually agreed unit price contract for the work.  Bonding is not included in the proposal.  All invoices are due upon receipt. Amounts due and unpaid over 30 days shall accrue interest at the rate of 2% per month. Customer shall be liable for all costs of collecting amounts due and unpaid, including reasonable attorney’s fees. Thank you for the opportunity to bid on this project. Respectfully, Patrick Breagy Rock Solid Solutions