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Home My WebLink About2022-03-22 AgendaVail Local Housing Authority Agenda TN OF VANS � March 22, 2022 3:00 PM Virtual Meeting 75 S. Frontage Road - Vail, Colorado, 81657 1. Call to Order 1.1. Zoom Meeting 1 (call to order pre -executive session) 1.2. Zoom Meeting 2 (post executive session) 1.3. Call to Order 2. Citizen Participation 2.1. Citizen Participation 3. Approval of Minutes 3.1. VLHA February 22, 2022 Minutes 3.2. VLHA March 8, 2022 Minutes 4. Main Agenda 5 Min. 5 Min. 5 Min. 4.1. Swearing in of New Authority Member Kristin Kenney-W illiams to a Partial Term 5 Min. on the Vail Local Housing Authority Expiring May 31, 2023 Presenter: Tammy Nagel 4.2. Housing Policy Legislative Initiatives. 20 Min. Presenter: George Ruther, Housing Director 4.3. Request for recommendation of a purchase of the Vail daily building to replace 30 Min. some of the underperforming deed units as part of the amendment to the Four Seasons SDD. Presenter: George Ruther, Housing Director 5. Matters from the Chairman and Authority Members 5.1. Matters from the Chairman and Authority Members 15 Min. Presenter: Steve Lindstrom, Chairman 6. Executive Session 6.1. Executive Session per C.R.S. §24-6-402(4)(a)(e) - to discuss the purchase, 15 Min. 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: Martha Anderson, Housing Coordinator 7. Any Action as a Result of Executive Session 7.1. Any Action as a Result of Executive Session 8. Adjournment 8.1. Adjournment 5:OOPM (estimate) 9. Future Agenda Items 9.1. • Land Banking (sale of GRFA) • Investment Banker Discussion • Update to Vail Housing 2027 10. Next Meeting Date 10.1. Next Meeting Date April 12, 2022 5 Min. 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 SOWN OF �' VAI L LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: VLHA February22, 2022 Minutes ATTACHMENTS: Description VLHA February 22, 2022 Minutes Vail Local Housing Authority Minutes '6� TO F �" ,�', FFebruary 22, 2022 3:00 PM Virtual Meeting 75 S. Frontage Road - Vail, Colorado, 81657 PRESENT ABSENT Steve Lindstrom Mary McDougall Greg Moffet James Wilkins STAFF George Ruther, Housing Director Martha Anderson, Housing Coordinator 1. Call to Order 1.1. Zoom Meeting 1 1.2. Call to Order A quorum is present. Lindstrom called the meeting to order at 3:00 PM. McDougall is absent. 2. Citizen Participation 2.1. Citizen Participation There are no citizen comments. 3. Approval of Minutes 3.1. VLHA February 8, 2022 Minutes MOTION: MOFFET SECOND: WILKINS VOTE: 3-0 AP 4. Main Agenda 4.1. Housing Policy Legislative Initiatives. Presenter: Scott Robson, Town Manager This presentation was rescheduled for the VLHA meeting on March 22, 2022. MOTION: MOFFET SECOND: WILKINS VOTE: 3-0 AP 4.2. Ideas for Eagle County on Allocation of Funds from the Sale of Lake Creek Village Apartments. Presenter: Steve Lindstrom, Chairman A work session will be arranged with the Vail Local Housing Authority & Eagle County Housing Authority to talk about long-term planning, housing policy and share ideas on how to utilize the funding from the sale of the Lake Creek Village apartments. Some ideas to discuss are land banking, construction of a truck stop in Edwards, funding for the redevelopment of the Timber Ridge apartments, school district land in molar park and a possible land opportunity at the Vail Post Office. 4.3. Locals Homebuyer Assistance Program Presenter: George Ruther, Housing Director Ruther gave an overview of the local's homebuyer assistance program, including program eligibility, risks, administration, and funding. Authority members raised a few great considerations to be addressed to include entity under which this program will be administered, finance administration, the role of the Town as lender, need for appraisals and home inspections and research of valuation tools. 4.4. Request for recommendation of a proposed amendment to the Four Seasons SDD. Presenter: Kristin Williams, Applicant's Representative The revised proposed amendment follows an employee basis count in line with Town Code and proposes to deed -restrict 27 bedrooms within units that have adequate living, kitchen and bathroom spaces and located within the mitigation region (including but not limited to Vail, Eagle -Vail, Avon and Edwards) for a total of 32 employees. These units will have a requirement to be occupied by Vail employees. Vail Local Housing Authority members moved to recommend the approval of this proposal to Town Council with a caveat concerning incremental parking impact. 6. Matters from the Chairman and Authority Members 5.1. Matters from the Chairman and Authority Members Presenter: Steve Lindstrom, Chairman Lindstrom and Ruther have been meeting individually with County Comissioners to learn their interests in housing projects going forward. Ruther invited Authority members to join him at the March 1 Town Council meeting where he will share the local's homebuyer assistance program with the Vail Town Council. Additionally, he will discuss the Town's participation at a Kayak Crossing deed restriction opportunity and present a recommendation for application to release specific terms of a deed restriction in Spraddle Creek. Ruther will be reaching out to VLHA members to discuss a couple of residential purchases for the Town. 6. Adjournment 6.1. Adjournment 4:59 PM MOTION: MOFFET SECOND: WILKINS VOTE: 3-OAP 7. Future Agenda Items 7.1. Land Banking (sale of GRFA) Investment Banker Discussion 8. Next Meeting Date 8.1. Next Meeting Date March 8, 2022 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 SOWN OF �' VAI L LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: VLHA March 8, 2022 Minutes ATTACHMENTS: Description VLHA March 8, 2022 Minutes TOWN OF V �' �. PRESENT Steve Lindstrom Greg Moffet James Wilkins Mary McDougall Vail Local Housing Authority Minutes March 8, 2022 3:00 PM Virtual Meeting 75 S. Frontage Road - Vail, Colorado, 81657 STAFF George Ruther, Housing Director Martha Anderson, Housing Coordinator 1. Call to Order 1.1. Zoom Meeting 1 1.2. Call to Order ABSENT A quorum is present. Lindstrom called the meeting to order at 3:07 PM. 2. Citizen Participation 2.1. Citizen Participation Jill Davies introduced herself from Vermont and is interested in learning more about the Vail InDEED program. 3. Approval of Minutes 3.1. VLHA February 8, 2022 Minutes MOTION: MOFFET SECOND: WILKINS VOTE: 3-0 AP 4. Main Agenda 4.1. Swearing in of new Authority member Kristin Kenney -Williams to a partial term on the Vail Local Housing Authority expiring May 31, 2023. Presenter: Tammy Nagel, Town Clerk This item was moved to the following meeting on March 22, 2022. 4.2. Locals Homebuyer Assistance Program. Presenter: George Ruther, Housing Director Ruther received support from Town Council to continue working on this new housing program. Ruther is now looking to build a partnership with local lenders and the realtor community on this new program and receive feedback from them on anticipated challenges. 4.3. Compliance Policies for Under Performing Deed Restrictions Presenter: George Ruther, Housing Director In the years 1992-1994, the Town of Vail executed three type II and six type III deed restrictions that do not obligate the unit to be occupied or rented, but if it is rented, it must comply with the terms of the deed restriction. However, there is a sense that these units are not required to submit annual compliance. Ruther is recommending figuring out a way for property owners to convert or upgrade their EHU for another one that is performing. Consensus was made for staff to bring ideas at another meeting on how this can be accomplished. 4.4. Review of proposed development to application to amend Special Development District No. 42, Doubletree/Highline and Request Recommendation Presenter: George Ruther, Housing Director Conversation ensued around a recommendation of approval of the proposed amendment to Special Development District No. 42, Doubletree Hotel/Highline from the Vail Local Housing Authority to the Town of Vail Planning and Environmental Commission and the Vail town Council. The recommendation is for Vail Health to build 15 deed -restricted employee housing units separate from the Doubletree hotel redevelopment. The amendment will include a master deed restricted recorded on the title of the vacant parcel at the time of closing to ensure the use of the parcel is for deed -restricted residential development. The authority moved to recommend approval of this amendment that will allow for these two projects to be separated one from another. MOTION: MOFFET SECOND: WILKINS VOTE: 4-0 AP 5. Matters from the Chairman and Authority Members 5.1. Matters from the Chairman and Authority Members Presenter: Steve Lindstrom, Chairman Lindstrom was contacted by a property owner that has several deed restricted units and was wondering about possibly deeding 1/10 to the VLHAto try to mitigate his property taxes. Consensus was made not to move forward with this request. It was brought to Moffet's attention that a building where most units are deed restricted has a couple of Airbnb units and that residents would like not to have those units in there. Conversation followed on perfecting deed restrictions in some Town of Vail buildings. The VLHA plans on meeting with County Commissioners when acting in their role as Eagle County Housing Authority with suggestions on how to use the proceeds from sale of properties. The property known as the West End in Edwards now is in East West and may be used for deed restricted housing in its entirety, Ruther to research more about this matter. The community meeting is later this evening form 5 to 7 pm if anybody would like to participate. 6. Adjournment 6.1. Adjournment 4:06 PM MOTION: MOFFET SECOND: MCDOUGALL VOTE: 3-0 AP 7. Future Agenda Items 7.1. Land Banking (sale of GRFA) Investment Banker Discussion Housing Policy Legislative Initiatives 8. Next Meeting Date 8.1. Next Meeting Date March 22, 2022 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 SOWN OF �' VAI L LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: Housing Policy Legislative Initiatives. ATTACHMENTS: Description Future of Housing_YVHA H ousing Matters_G unnisonValley LeaseToLocals Summit ShortTermFix WinterPark ELM Mim:EM 1=1 � Yampa Valley Housing Authority A HOUSING CRISIS 2,99,900 0 I MOfM *tames V2LIM Nausins ,B� SS ---w dogma Yampa Valley Housing Authority A SOLID FOUNDATION Stability —Affordability —Mobility r U z_ V) D 0 I W ar- U- oC 0 U- 0 w z_ J W a_ FL Yampa Valley Housing Authority A BIG OPPORTUNITY Yampa Valley Housing Authority A COMMUNITY OF SOLUTION Brown Ranch Steering Committee Brown Ranch Focus Teams Housing Demand Infrastructure Urban Design Sustainability and Stewardship Project Economics Stakeholder Engagement Targeted Outreach Political Leadership Business Leadership iPurpose f the iPur ur in: Increase the supply of local workforce housing through conversion of STRs to LTRs Basics of iPur : GVRHA master -leases properties from owners; subleases to qualified tenant households; minimum one-year lease terms iFiii andii iil c iirmmiirmmiiitim a -t: Fiscal sponsor allocates surety fund $$ to support any losses GVRHA may incur in uncovered rents or "over- used" security deposits; pay low annual admin fee to GVRHA 1IFenants III n fiiits:, Provides free education on improving rental worthiness Creates increased access to decent, affordable living spaces Offers a lower up -front cost to get into a rental unit Provides longer -term stability in housing wn it III n fiiits:, Provides guaranteed rental income Lease agreement with local agency, GVRHA, who has the experience and financial capacity to perform Reduced property management fees compared to STR management companies Stable tenants educated to be rent - worthy Scheduled property inspections reduce wear and tear costs or large repair expenditures on properties Lease to I , ............. ocals �' 1luuuuulllifi' llll " �N r ;, ' louuuu uuuuo w I lik IN i�l uu � Ove��rwi S u ��rrl ��1 �� uu laluumu umll I ... uu . . . . yuuuumuuuu umu oil I � II � ,I I I� IIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII uIIII IryI �, 1,�,��Illllllll��iiillllllpl uV �� II�� ull6 �...... �..s.............. a iu.lo�l,Vul�Po� � on�uaihl�l�l,��11111111111111��lllll��llhl9 ��uuuuuulilllllllllllllllllllllllllllllll Ove��rwi�iew ��° ease toIII,,,,,,,,ocals is aIII-.)i III III-.)iirogiiraiirn created.III inded by Surnimit Cou II III Ilr ireckerviridge lrlil r goal is to uinlockinew lr in 111 housiing , Ilr the local workforce ross the couintyIII Ill-.)llr i i Ilr Ill-.)llr Ill-.) llr ineir .III Ill-.)llr Ill -)slimy imainagers cash finceintives to coinveirtIII Ilr ,,,,,,,teinirn lr in 111 III Ilrr , ,,,,,,,teinirn lr in 111 leases. 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'' a vq di' hl 41'vy fM1 �i ��,�ou��''11II� III �!, uuuuum'flNuxrvdl �iomm�� io a��V (NC�diwulr� IIIII 'lomm�� uuuuum'Nuxrvd '!Vni��l'�Ili, IIIII IIIII 'flNOHrvd� (1�!nuwill Ilpl IOuommIII (^NC,diw IIIII Iim uuu°ulll (flN�oHrvdo IIIII IIIII"°�lluu�`I1I iuuum IIIII ngiPpgN^ IIIII l Ill,,,,,,,auiriclh irlklli lm ill-th III,,,,,,,ocalll lll:':.3usiiiiriesses Rent CeI11111111ing SOWN OF �' VAI L LOCAL HOUSING AUTHORITYAGENDA MEMO ITEM/TOPIC: Request for recommendation of a purchase of the Vail daily building to replace some of the underperforming deed units as part of the amendment to the Four Seasons SDD.