HomeMy WebLinkAbout2016-09-27 TImber Ridge Operating Committee MinutesMinutes Timber Ridge Operating Committee (TROC) September 27, 2016 at 8:30 AM Attending the meeting were committee members: Kathleen Halloran Alan Nazzaro Greg Hall
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 August 30, 2016 minutes. Kathleen Halloran seconded the motion. There was no further discussion and the motion passed
unanimously. 2. Status Vail Resorts (VR) Master Lease Compliance Issues Kathleen Halloran updated the Board that two new VR housing staff in the Broomfield
HQ are now responsible for Timber Ridge. The line of credit and cash security deposit
required by the lease are being worked one by Andrew Bickers. The LOC and cash will represent one-half each of the full amount required. Corum staff stated that Pinnacle still not cooperating fully with procedures outlined in
the lease. The Pinnacle Manager has not shared a copy of the lease. The Pinnacle
Property Manager is not forth coming with information regarding move-ins or damage reports. Kathleen Halloran has set up a coordination meeting with VR, Pinnacle, Corum and
TOV/TROC representatives on October 5, 2106. Alan Nazzaro stated that unfortunately,
he would be on vacation on that date and unable to attend. Kathleen Halloran would be the TROC representative at the meeting. Their entire maintenance staff has turned over, but this is an opportunity for the Corum
staff to start out fresh and train them properly. Corum is taking the lead for getting
maintenance and turn over issues cleared-up in a timely manner. We are trying to get everyone on the same page with the conditions set forth in the new lease. 3. Timber Ridge Report
Corum staff reported that there will be twelve units turned by 11/01/16. The cost for the turns is approximately $700/unit for paint, repairs, carpet, etc. To date about three-quarters of the VR units have turned over.
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Corum staff also reported that the A-Peak bid for overlay of the parking lots in spring of 2017 is $103, 000. There was only $80,000 budgeted for the year and have about
$23,000 that could be carried over to next year. 4. Review of 2017 Budget
Corum staff stated that there could be budget increases needed for 2107 due to
maintenance on turns, HVAC replacements, and miscellaneous water heater replacements as needed. Kathleen Halloran presented the draft 2017 budget. Alan Nazzaro moved to accept the
budget as presented. Greg Hall seconded the motion. The motion carried unanimously.
5. Adjournment
There being no further business, a motion to adjourn was made by Kathleen Halloran,
seconded by Greg Hall and the motion carried unanimously at 9:30 AM. The next regularly scheduled TROC meeting is October 25, 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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