HomeMy WebLinkAbout2021-03-09 VLHA Meeting Minutes Vail Local Housing Authority
Meeting Minutes
TOWN DF�V9h
March 9, 2021
3:00 PM
Virtual Meeting
75 S. Frontage Road -Vail, Colorado, 81657
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PRESENT ABSENT
Steve Lindstrom
Mary McDougall
Molly Morales
Greg Moffet
James Wilkins
STAFF
George Ruther, Housing Director
Lynne Campbell, Housing Coordinator
1. Call to Order
1.1. Zoom Meeting 1 (pre-executive session)
1.2. Zoom Meeting 2 (post-executive session)
1.3. Call to Order
A quorum being present Lindstrom called the meeting to order at 3:05 PM.All members are
present.
2. Citizen Participation
2.1. Citizen Participation
Galen Aasland offered his comments regarding the residential linkage proposed. He doesn't
agree with current policies being pursued and believes the comments are flawed. Thinks
Aspen solutions to Vail's problem which won't work.
Cynthia Fitch, no comments.
3. Approval of Minutes
3.1. VLHA February 23, 2021 Minutes
MOTION: MOFFET SECOND: MC DOUGALL VOTE: 3-0 APPROVED
4. Main Agenda
4.1. Residential Linkage Framework for Calculating Mitigation — Discussion
Presenter:Andrew Knudtsen & Rachel Shindman, Economic Planning Systems
EPS and VLHA reviewed and discussed a high-level discussion of residential linkage.
Discussion ensued. The proposed fee will be based on net new of construction and is
intended to be transparent, straight forward and predictable, scaled to what you're building.
EPS asked the Authority to consider and provide direction on three policy questions.
1. What is the upper AMI (area median income) level to capture in employee housing need?
Moffet and McDougall don't agree with using AMI.
Currently Commercial Linkage is based on square footage but a factor including
affordability at 80%AMI per Ruther.AMI is as much lever as mitigation rate.
The Authority stated 150 maximum AMI and asked to see some examples difference 120-
150AM1.
2. What market geography (entire TOV or subset area) and typology (old/new all homes)
should be used to calculate the employee affordability gap?
VLHA direction excluded portions of Town with a price per square foot over $1,000. The
Authority and EPS will discuss dollars/square foot comparisons at next discussion. EPS
will check if legally the rate can be determined by neighborhoods vs a general price per
square foot.
3. Future question: What is the mitigation rate?
Authority members agreed the VLHA should be the group making decision of what the
calculation should be updated to and present to Council for approval.
Mitigation rates will be reviewed with examples at a later date.
4.2. Resolution No. 5, Series of 2021,A Resolution Approving the Purchase of a Deed Restriction
Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as
Condominium Unit B-2, Heather of Vail Condominiums, Eagle County, Colorado with a
Physical Address of 5197 Black Gore Drive, Unit B-2, Vail Colorado; and Setting Forth Details
in Regard Thereto.
Presenter: Lynne Campbell, Housing Coordinator
MOTION: MOFFET SECOND: MC DOUGALL VOTE: 5-0 APPROVED
4.3. Resolution No. 6, Series of 2021,A Resolution Approving the Purchase of a Deed Restriction
Interest in Property (Type III Deed Restriction) in the Town of Vail Legally Described as
CONDOMINIUM UNIT 9, SUNLIGHT NORTH CONDOMINIUMS, Eagle County, Colorado
with a Physical Address of 2475 GARMISCH DRIVE, UNIT 9, Vail Colorado; and Setting
Forth Details in Regard Thereto.
Presenter: Lynne Campbell, Housing Coordinator
MOTION: MOFFET SECOND: WILKINS VOTE: 5-0 APPROVED
5. Matters from the Chairman and Authority Members
5.1. Matters from the Chairman and Authority Members
Presenter: Steve Lindstrom, Chairman
Cascade tennis courts project was reviewed at PEC March 81h and was not well received. The
developer is reviewing next steps.
West Vail Master Plan had another advisory meeting, a few housing ideas were present.
Lindstrom hoping to have a meeting with the planning group.
Edwards River Park is currently having a public comment session.
Housing department provided an update on 2020 compliance update at 93% submitted.
The 2-year non-compliant Chamonix owner has been served a summons regarding legal
action. Currently the Town is waiting on disposition from district court on the action.
March 23 opportunity to discuss role of Housing Authority about the Cascade tennis court site.
Authority agreed good opportunity to discuss negotiations in executive session. Future role in
of the VLHA in development of this site property.
McDougall left meeting early, 4:35PM.
Investment banker discussion with VLHA regarding tools to balance deed restriction assets. It
would allow borrowing leverage.Authority agreed a good conversation to have. It could
provide a source of long-term funding, investing opportunities. Staff will add to an upcoming
meeting for about 20 minutes.
6. Executive Session
6.1. Executive Session per C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, acquisition, lease,
transfer or sale of real, personal or other property interests and to determine positions relative
to matters that may be subject to negotiations regarding: Vail InDEED applications and deed
restrictions.
Presenter: Lynne Campbell, Housing Coordinator
There were no items for review.
7. Any Action as a Result of Executive Session
7.1. Action as a Result of Executive Session
No action taken.
8. Adjournment
8.1. Adjournment 5:OOPM (estimated time)
Moffet made a motion to adjourn the meeting at 4:35PM.
MOTION: MOFFET SECOND: MORALES VOTE: 4 -0 APPROVED
9. Future Agenda Items
9.1.
• Land Banking (sale of GRFA)
• Public Health Housing Incentive, Eagle County Health
• Joint VLHA, Town Council, Planning & Environmental Commission Meeting Regarding
Commercial Linkage/Inclusionary Zoning and Adopted Housing Policy Review
• Investment Banker Discussion — Potential Funding Source
10. Next Meeting Date
10.1. Next Meeting Date March 23, 2021
Meeting agendas and materials can be accessed prior to meeting day on the Town of Vail
website www.vailgov.com.All housing authority meetings are open to the public. Times and
order of agenda are approximate, subject to change, and cannot be relied upon to determine at
what time the Vail Local Housing Authority will discuss an item. Please call (970) 479-2150 for
additional information. Please call 711 for sign language interpretation 48 hours prior to
meeting time.
Housing Department