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HomeMy WebLinkAbout2022-10-24 TROC Results Timber Ridge Operating Committee Meeting Results Monday, October24, 2022 8:30AM –9:30AM Town of Vail Municipal Administration Conference Room 75 South Frontage RoadWest, Vail, CO 81657 Members Present:Members Absent: Kathleen HalloranGeorge Ruther John King Greg Hall Staff: Corum Property Management: Erica Weston –Corum manager rep JocelynGarcia–Corum onsite property manager Timing of TR Redevelopment: In emails last week George indicated to Ericka that redevelopment / construction would not begin until Spring 2024 at earliest. Ericka will make note to start communicating with renters in February if signing on for a year-long lease. Master lease withVail Resorts: VR’s master lease had been extended two months from the usual May timeframe considering estimated opening of Residences at Main Vail so the current lease does not st expire until August 2023. Rental rates have been increased effective Sept 1: Non-VR leases: Rent going from $1,599/mo to $1,659 VR leases: Rent going from $1629 to $1679 (keeping the $20 per unit per month premium in place) Siding Repairs: John King had reached out to Com Dev, who ok’d spot repairs to the siding without a full building permit. John will get pricing for the T-111 siding closer to springtime when the work can begin. Intent is to patch-fix issues until the buildings are torn down. Adjourned 8:45am The next scheduled meeting of the Timber Ridge Operating Committeeis November 29, 2022. Future Items: Please call 970-479-2136 for additional information. Sign language interpretation is available upon request with 48 hour notification dial 711.