HomeMy WebLinkAbout2023-03-28 VLHA Agenda
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Vail Local Housing Authority Minutes
Tuesday, March 14, 2023
3:00 PM
Virtual Meeting Via Zoom
PRESENT ABSENT
Steve Lindstrom
Craig Denton
Dan Godec
James Wilkins
Kristin Williams
STAFF
George Ruther, Housing Director
Martha Anderson, Housing Coordinator
Missy Johnson, Housing Coordinator
1. Call to Order
1.1 Zoom Meeting 1 (Pre-Executive Session)
1.2 Call to Order Meeting called to order at 3:01 p.m. with a quorum on Zoom.
1.3 Zoom Meeting 2 (Post-Executive Session)
2. Citizen Participation
2.1 Citizen Participation - No comments.
3. Approval of Minutes
3.1 VLHA February 28, 2023 Minutes
Presenter(s): Missy Johnson, Housing Coordinator
Motion to approve as approve the minutes as amended;
MOTION: Williams SECOND: Wilkins PASSED: (5- 0)
4. Main Agenda
4.1 Resolution No. 5, Series of 2023, a Resolution Authorizing a Professional
Services Agreement with Mauriello Planning Group, LLC for Zoning and Development
Review Procedures Consultation.
Presenter(s): George Ruther, Housing Director
MOTION: Wilkins SECOND: Williams PASSED: (5- 0)
Vail Local Housing Authority Meeting Minutes of March 14, 2023
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4.2 Resolution No. 6, Series of 2023, a Resolution Approving the Purchase of a Deed
Restriction Interest in Property (Type III Deed Restriction) in the Town of Vail Legally
Described as Pitkin Creek Park Unit: 7-N, Eagle County, Colorado with a Physical Address of
3971 Bighorn Road Unit 7N, Vail, Colorado; and Setting Forth Details in Regard Thereto.
Presenter(s): Missy Johnson, Housing Coordinator
MOTION: Wilkins SECOND: Williams PASSED: (5- 0)
4.3 Resolution No. 7, Series of 2023, a Resolution Expressing the Intent of the Issuer to be
Reimbursed for Certain Expenses Relating to the Acquisition, Development, Construction and
Equipping of the Timber Line Apartments Project for the Purpose of Residential Workforce
Housing.
Presenter(s): Steve Lindstrom, VLHA Chairman
Motion to approve, as reviewed by legal with approval without revisions;
MOTION: Williams SECOND: Godec PASSED: (5- 0)
5. Matters from the Chairman and Authority Members
5.1 Matters from the Chairman and Authority Members
Presenter(s): Steve Lindstrom, VLHA Chairman
Williams reported on a very successful recent Habitat for Humanity fundraiser.
Ruther mentioned the upcoming Town Council Meeting will include updates regarding Timber
Ridge and the opportunity for the public to purchase Deed Restricted homes as part of the future
re-development of Timber Ridge.
Motion to move into Executive Session at 3:15 p.m.
MOTION: Wiliams SECOND: Godec PASSED: (5- 0)
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(s): Missy Johnson, Housing Coordinator
Motion to exit executive session at 3:24 p.m.
MOTION: Wilkins SECOND: Godec PASSED: (5- 0)
Vail Local Housing Authority Meeting Minutes of March 14, 2023
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7. Any Action as a Result of Executive Session
7.1 Any Action as a Result of Executive Session
Presenter(s): Steve Lindstrom, VLHA Chairman
At 3:25 p.m. the Authority re-entered regular session.
Wilkins made a motion to Authorize Housing Staff to move forward as recommended
during Executive Session:
MOTION: Wilkins SECOND: Godec PASSED: (5- 0)
8. Adjournment
8.1 Adjournment 5:00 PM (Estimate)
Motion to adjourn at 3:27 p.m;
MOTION: Williams SECOND: Godec PASSED: (5- 0)
9. Future Agenda Items
Vail Housing 2027
Land Banking
Investment Banker Discussion
Review Retirement and Remote Worker Policies
Review Chamonix Vail Deed Restriction
Vail InDEED - GIS Mapping
10. Next Meeting Date
10.1 Next Meeting Date March 28, 2023
Vail Local Housing Authority Meeting Minutes of March 14, 2023
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TOWN OF VAIL 2022 BUDGET TO ACTUAL
SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
HOUSING FUND
(Unaudited)
20222022Favorable
AmendedActuals(Unfavorable)
Revenue
Housing Sales Tax$ 4,957,9804,813,000$ 144,980$
Housing Fee in Lieu Annual Collections 52,42546,000 6,425
Transfer in from Capital Projects Fund
2,500,0002,500,000 -
Workforce Housing Sales 1,689,000 1,251,730 (437,270)
Total Revenue9,048,000 8,762,136 (285,864)
Expenditures
Housing Programs
InDeed Program3,194,334 582,245 2,612,089
Buy Down Housing71,609 - 71,609
Future Purchases2,900,000 - 2,900,000
North Trail Townhomes Unit D307,000 308,629 (1,629)
Vail Heights #10548,000 548,904 (904)
Pitkin Creek 12-L unit976,288 977,643 (1,355)
Chamonix unit B634,940 636,403 (1,463)
Construction Housing Projects
Timber Ridge Redevelopment Placeholder 195,000
-195,000
Residences at Main Vail Opportunity Fee2,000,000 - 2,000,000
Land Purchases for future Housing
East Vail CDOT Parcel -2,650,000 2,650,000
Total Expenditures13,477,171 3,053,824 10,423,347
Operating Income(4,429,171) 5,708,312 10,137,483
Beginning Fund Balance (Transfer from CPF) 5,352,7025,352,702
Ending Fund Balance923,531$ 11,061,014$
CAPITAL PROJECTS FUND
2022
Amended Favorable/
Budget2022 Actual(UnFavorable)
Housing Sales$ 297,589-$ (297,589)$
TOV Employee rental units$ 8,688,04011,088,649$ 2,400,609$
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Page 1 of 2
AnnualMTDYTDBudget Less% ofPrior Year
500.00400.00800.00(300.00)160750.00100.00327.98799.84(699.84)80046.41120.0010.00120.00.00100120.00730.00(361.00)361.00369.0049150.00
$500.00$400.00$800.00($300.00)160%$750.00$100.00$327.98$799.84($699.84)800%$46.41$120.00$10.00$120.00$0.00100%$120.00
1,200.001,200.001,200.00.001001,200.002,350.00.001,225.301,124.7052320.00
15,000.001,374.0715,386.17(386.17)10314,724.0335,000.00.0035,000.00.0010035,000.0036,300.00.003,210.0033,090.00912,777.50$2,350.00$0.00$1,225.30$1,124.7052%$320.00
$15,000.00$1,374.07$15,386.17($386.17)103%$14,724.03$35,000.00$0.00$35,000.00$0.00100%$35,000.00$50,600.00$2,102.05$51,986.01($1,386.01)103%$50,520.44$50,600.00$2,102.05$51,986.01($1,386.01)103%$50,5
20.44$37,500.00$1,200.00$4,410.00$33,090.0012%$13,977.50
Budget AmountActual AmountActual AmountYTD ActualBudgetTotal Actual
Through 12/31/22
Totals
TotalsTotalsTotalsTotalsTotalsTotalsTotals
33 - 35 - 70 -
Income Statement
31460 - 31462 - 31610 - 31960 -
REVENUE TOTALS
0000 - Revenue
Department
0000 - Revenue 6700 - Vail Local Housing Authority
800 - Vail Local Housing Authority
DepartmentDepartment
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REVENUEEXPENSE
Fund
:
3146031462316103196033357073
AccountAccount Description31460.00Middle Creek Mgmt Fee31462.00LionsRidge Apartments Revenue Share31610.00Interest31960.00Ground Lease Revenue33.00Professional Fees33.20Accounting Fees35.30Profession
al Development70.34Bank Charges73.00Miscellaneous
Page 2 of 2
312,037 347,990
AnnualMTDYTDBudget Less% ofPrior Year
$730.00($361.00)$361.00$369.0049%$150.00
50,600.002,102.0551,986.01(1,386.01)103%50,520.4440,700.00849.006,116.3034,583.7015%14,567.50$9,900.00$1,253.05$45,869.71$35,969.71463%$35,952.94 347,990357,890
$40,700.00$849.00$6,116.30$34,583.7015%$14,567.50$40,700.00$849.00$6,116.30$34,583.7015%$14,567.50
Budget AmountActual AmountActual AmountYTD ActualBudgetTotal Actual
347,990 393,860
Through 12/31/22
Totals
Totals Totals
73 -
Income Statement
Net Gain (Loss)
EXPENSE TOTALSEXPENSE TOTALS
REVENUE TOTALS
800 - Vail Local Housing Authority
6700 - Vail Local Housing Authority
Fund
800 - Vail Local Housing Authority
Department
Fund
Beginning Fund BalanceEnding Fund Balance
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AccountAccount Description
Page 1 of 1
BalanceTotal ActualNet ChangeChange %
1,935.0736,406.95(34,471.88)(94.68)1,200.00.001,200.00+++
$1,935.07$36,406.95($34,471.88)(94.68%)$1,200.00$0.00$1,200.00+++$1,200.00$0.00$1,200.00+++
111,137.4645,544.7665,592.70144.02281,987.57266,038.6815,948.895.99393,860.10312,037.4581,822.6526.22%
Current YTDPrior Year
$393,125.03$311,583.44$81,541.5926.17%$395,060.10$347,990.39$47,069.7113.53%$393,860.10$312,037.45$81,822.6526.22%$393,860.10$312,037.45$81,822.6526.22%
Through 12/31/22
Balance Sheet
TotalsTotalsTotalsTotals
10600 - 11000 - 20100 - 29205 -
ASSETS TOTALS
LIABILITIES TOTALS
FUND EQUITY TOTALS Prior to Current Year Changes
800 - Vail Local Housing Authority
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LIABILITIESFUND EQUITY
ASSETSLIABILITIES AND FUND EQUITY
Fund
22
10600110002010029205
AccountAccount Description10600.00VLHA / Checking 189310600.01VLHA / Liquid Asset 862211000.00Accounts Receivable20100.00Accounts Payable29205.00Fund Balance - Restricted
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RESOLUTION NO. 8
Series of 2023
RESOLUTION APPROVING THE PURCHASE OF A DEED RESTRICTION INTEREST IN
PROPERTY (TYPE III DEED RESTRICTION) IN THE TOWN OF VAIL LEGALLY
DESCRIBED AS VAIL DAS SCHONE CONDO Unit: A-17, EAGLE COUNTY, COLORADO
WITH A PHYSICAL ADDRESS OF 2111 NORTH FRONTAGE ROAD WEST, UNIT A17,
VAIL COLORADO; AND SETTING FORTH DETAILS IN REGARD THERETO.
Town of Vail,
County of Eagle and State of Colorado is duly organized and existing under the laws of the
State of Colorado; and
WHEREAS, the members of the Authority have been duly appointed and qualified; and
WHEREAS, the Authority considers it in the interest of the public health, safety and
welfare to purchase legally
described as Vail Das Schone Condo Unit: A-17, Town of Vail, Eagle County, Colorado with
a physical address of 2111 North Frontage Road West, Unit A17, Vail Colorado (the
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO THAT:
1. The purchase of the Deed Restriction on the Property is hereby approved by the
Authority at the maximum purchase price of $150,000.
2. The Chairman of the Vail Local Housing Authority is hereby authorized to
execute, on behalf of the Town, an agreement to purchase the Deed Restriction
and to take whatever steps are necessary to complete the purchase of the Deed
Restriction on the Property.
3. This resolution shall take effect immediately upon its passage.
INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Vail Local
Housing Authority of the Town of Vail held this 28 day of March , 2023.
Steve Lindstrom,
Chairman of the Vail Local Housing Authority
ATTEST:
Melissa Johnson,
Secretary of the Vail Local Housing Authority
Resolution No. 8, Series of 2023
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RESOLUTION NO. 9
Series of 2023
RESOLUTION APPROVING THE PURCHASE OF A DEED RESTRICTION INTEREST IN
PROPERTY (TYPE III DEED RESTRICTION) IN THE TOWN OF VAIL LEGALLY
DESCRIBED AS VAIL DAS SCHONE CONDO Unit: A-1, EAGLE COUNTY, COLORADO
WITH A PHYSICAL ADDRESS OF 2111 NORTH FRONTAGE ROAD WEST, UNIT A1, VAIL
COLORADO; AND SETTING FORTH DETAILS IN REGARD THERETO.
Town of Vail,
County of Eagle and State of Colorado is duly organized and existing under the laws of the
State of Colorado; and
WHEREAS, the members of the Authority have been duly appointed and qualified; and
WHEREAS, the Authority considers it in the interest of the public health, safety and
welfare to purchase legally
described as Vail Das Schone Condo Unit: A-1, Town of Vail, Eagle County, Colorado with a
physical address of 2111 North Frontage Road West, Unit A1, Vail Colorado
and
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO THAT:
1. The purchase of the Deed Restriction on the Property is hereby approved by the
Authority at the maximum purchase price of $150,000.
2. The Chairman of the Vail Local Housing Authority is hereby authorized to
execute, on behalf of the Town, an agreement to purchase the Deed Restriction
and to take whatever steps are necessary to complete the purchase of the Deed
Restriction on the Property.
3. This resolution shall take effect immediately upon its passage.
INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Vail Local
Housing Authority of the Town of Vail held this 28 day of March , 2023.
Steve Lindstrom,
Chairman of the Vail Local Housing Authority
ATTEST:
Melissa Johnson,
Secretary of the Vail Local Housing Authority
Resolution No. 9, Series of 2023
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