HomeMy WebLinkAbout2016-08-30 TImber Ridge Operating Committee MinutesMinutes Timber Ridge Operating Committee (TROC) August 30, 2016 at 8:30 AM Attending the meeting were committee members: Kathleen Halloran Alan Nazzaro Greg Hall
Stan Zemler Corum staff attending the meeting: Cicely Crampton (via phone) Dave Lieby
The meeting was called to order at 8:35 AM. 1. Minutes Greg Hall made a motion to approve the June 28, 2016 minutes. Stan Zemler seconded
the motion. There was no further discussion and the motion passed unanimously. 2. Status Vail Resorts (VR) Master Lease Kathleen Halloran updated the Board that the lease has been signed and executed by
both parties. Greg Hall asked what the effective date was. Kathleen responded that the
lease was effective May 1st and that VR had been abiding by the terms since that time. Corum staff stated that Pinnacle still not abiding by aspects of the master lease, including turn procedures. Corum representatives requested a copy of the executed
lease. Kathleen Halloran agreed to send them copies.
3. Timber Ridge Performance Update Mr. Leiby gave an update on the operating, remodels and maintenance performance
year to date for the complex: - Timber Ridge Performance YTD Notes Turns completed YTD including renovations:
- 42 units out of 96 or 44% of the entire property - 41 out of 54 VR units or 76% of the master lease Non – Renovated turns completed YTD: - 14 units in Building M ( the last BLDG on the renovation schedule )
- M-01, M-03, M-05, M-06, M-07, M-09, M-10, M-11, M-12, M-13, M-15, M-16, M-
17 and M-18
- 9 units in Building L
- L-02, L-03, L-04, L-05, L-13, L-14, L-15, L-16 and L-17
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Service request production YTD: - 314 service requests have been completed YTD
- 287 VR service request or 91% of the total service requests
- 27 Full time resident service requests or 9%
New Carpet / Linoleum installation in Master Lease units YTD including renovations:
- 26 new carpet installations or 48% of master leased units
- 38 new linoleum installations or 68% of master leased units
All new property grills have been installed, well received by residents and have been put
to constant use.
Maintenance staff experimented with a sprinkler system this summer at Buildings N and P - Cost of sprinkler heads and connected lines was roughly $255.00
- Sprinkler system was installed above ground and will not create a trip hazard
- After bill analysis, we saw an increase of $20 to the water bill for a 30 day cycle
which covered watering North West portion of the property.
- The watering efforts made a great difference in the damaged areas from Blue-
Sky’s work to years ago
- Residents were very pleased with the efforts and results.
Mr. Leiby also stated that early on this year we were seriously over budget due to the
turnovers and repairs, but now catching up and should be on budget by year’s end. Kathleen Halloran noted that she would take a close look at the budget to see if there were overages available or if a request for a budget supplement might be needed before the next budget cycle.
4. Miscellaneous Mr. Leiby reported that he had received three bids for repaving the parking lot. A-Peak
had the highest bid but most comprehensive and they are more capable of completing the job as bid with cost over runs. Their bid was $102,000 but there were savings from the remodels of $47,000 and that if that were transferred, it would more than cover the difference in the bid. Public Works would review the bids and make the final decision, but the remodel savings could be moved, fi needed.
Mr. Leiby also stated that CIRSA had inspected the property and found no issues, no hazards. This is the first fully clean inspection that Timber Ridge has had. Mr. Leiby also reported that there has been damage to new counter tops from people
not using cutting boards and that replacement of the tops will be charged back to Pinnacle, since it resulted from tenant misuse. Stan Zemler requested that Corum purchase cutting boards to protect new kitchen countertops as a preventive maintenance expense.
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There being no further business, a motion to adjourn was made by Kathleen Halloran,
seconded by Stan Zemler and the motion carried unanimously at 9:30 AM. The next regularly scheduled TROC meeting is September 27, 2016. Respectfully Submitted,
_____________________ Alan J. Nazzaro INTRODUCED, READ, ADOPTED AND APPROVED this ______ day of
___________________, 2016. TIMBER RIDGE OPERATING COMMITTEE By: ___________________________
Stan Zemler, Town Manager
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