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Home My WebLink About2023-05-23 VLHA Agenda 2 3 4 Vail Local Housing Authority Minutes Tuesday, April 25, 2023 3:00 PM Virtually on Zoom The Vail Local Housing Authority meets every 2nd and 4th Tuesday of the month PRESENT ABSENT Steve Lindstrom James Wilkins Craig Denton Dan Godec Kristin Williams STAFF George Ruther, Housing Director Martha Anderson, Housing Coordinator Missy Johnson, Housing Coordinator 1. Call to Order 1.1 Call to Order - Meeting called to order at 3:01 p.m. with a quorum present. 2. Citizen Participation 2.1 Citizen Participation - No comments. 3. Approval of Minutes 3.1 VLHA April 11, 2023 Minutes MOTION: Williams SECOND: Denton PASSED: (4- 0) 4. Main Agenda 4.1 2023 Q1 Housing Financial Update Presenter(s): Carlie Smith, Finance Director Alex Jakubiec, Budget Analyst/Short Term Rental Manager 5. Matters from the Chairman and Authority Members 5.1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman Ruther continued with updates to the Authority regarding the West Middle Creek Parcel and Timber Ridge Redevelopment. Vail Local Housing Authority Meeting Minutes of April 25, 2023 5 6. Adjournment Motion to adjourn at 3:36 p.m. MOTION: Williams SECOND: Denton PASSED: (4- 0) 6.1 Adjournment 5:00 PM (Estimate) 7. 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 8. Next Meeting Date 8.1 Next Meeting Date May 9, 2023 Vail Local Housing Authority Meeting Minutes of April 25, 2023 6 7 8 9 : 21 22 23 24 25 26 27 28 29 2: 31 32 33 34 35 36 37 38 39 58 62 5/18/2023 04 649 5 750000000750005002006831000600000600400500600500440500000650000500750500500200300600 558100081001 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,, 283 $88$90$62$60$53$92$58$92$56$60$56$50$80$62$63$95$90$57509 $58$41$94 , , $115$155$127$115$122$101$148$115$115$115 $105 Funded Funded AmountAmount 5374078$22902961$2 ,, 2,06414 40 31 x lex1,87013lex1,51213lex76811lex1,62013lex1,62013 le ppppp p TypeSq. Ft# Units# BedsTypeSq. Ft# Units# Beds condo1,66413condo1,41113 Condo1,22513Condo1,08812Condo1,06813Condo51211Condo57611Condo1,36613Condo56111Condo60811Condo72012Condo46211Condo90012Condo60011Condo76812Condo1,11912Condo1,08812Condo67612Condo99812 Du Property Property Townhouse2,04413 A B Page 2 of 4 4 6E 0 2 E 35 5 B 0 4 0 8 AD 5 R 4 e Rd #e Rd # gg e Rd W #A10condo1,33013 g horn Rd #7horn Rd #12-horn Rd #12JCondo1,18612 ggg 2843 Kinnikinnick Rd #2980 Vail View Dr #B215020 Main Gore Pl #D4030 Fall Line Dr #DDu1817 Meadow Rid2458 Garmisch Dr #BDu2458 Garmisch Dr #BDu1063 Vail View Dr #2099 Chamonix Ln #31081 Vail View Dr #B212111 N Fronta2418 Garmisch Dr W unitdu2448 Garmisch Dr #6Condo705113971 Bi4061 Bi2059 Chamonix Ln #923 Red Sandstone Rd #132490 Bald Mountain Rd #1480 Buffehr Creek Rd #1-980 Vail View Dr #D304061 Bi1081 Vail View Dr. #B102099 Chamonix Lane #3B Condo401111612 Buffehr Crk Rd #B-2 B 4 2 BB 0 DJ 8 R 5 4 0 D Unit 30 ss g lement, Unit 111470 Buffehr Creek RdCondo1,50113lement, Unit 1- B 6 B B Unit 21 pp0pp5 A g 6 g uisitionuisition 2 Block G Lot 3 2 Block G Lot 30 q E Unit 12771 Kinnikinnick Rd #1-q gg B Unit 35024 Main Gore Dr S #BA B Unit 55024 Main Gore Dr S #BB g x gg 13 Unit le g p 13, Block 2, Lot 17 Unit 12490 Bald Mountain Rd #1Du 13, Block 2, Lot 17 Unit gg h Condos unit g e filine filin gg hts Condo 3hts Condo Phase III Unit hts Condo 3 Hi ggg y Condo, The B-2 y stone Townhouses Unit en Tree Unit 14931 Red Sandstone Rd #1en Tree Condominiums Unit 1931 Red Sandstone Rd #1Condo64012 en Chalets Du p pp p 63 Columbine North Unit 2 Bld 2018 Total2019 Vail InDEED AcLegal AddressPhysical Address Pitkin Creek Meadows Lot 2CaGrouse Glen At Vail, 1st SuVail Das Schone FilinVail Das Schone FilinLions Mane Condo Phase II Unit Homestake at Vail Unit B21Columbine North BldWren House BuildinVail VilliaGrouse Glen At Vail, 1st SuHomestake at Vail Unit B10Vail Hei 2020 Vail InDEED AcLegal AddressPhysical Address Brooktree Townhomes BldVail East Townhouse Condos Unit Wren House BuildinVail HeiHillside Condo Unit E1819 Meadow RidVail Das Schone Condo Unit A-1AlAsVail SkPitkin Creek Park Phase III Unit 7-Pitkin Creek Park Phase III, Unit 12-Vail HeiSandstone 70 BldVail VilliaBrooktree Townhouses BuildinAsPitkin Creek Park Phase III, Unit 12-Valle 2019 Total 5/18/2023 5 200000800339000000192750 96 ,,,,,,,, , $68,400542$59,500$79$80$76$70$82$85$84$75 $58,760$53,600$64,500$50,650$64,125$93,000$69,500$83,500$91,550$56,300$61,700$58,000$95,000$57,000$61,920$87,200$76,560$90,000$80,676$75,000$80,920 , $100,000$101,700 Funded Amount 5362135$1 , 768125521157611672114621171511768119021257611720125641171511720127261272012 17 562119721267611969125961296512768116091167612614118771260611 1,368121,330131,103121,335131,206121,03812 TypeSq. Ft# Units# Beds CondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondoCondo Condo Property Page 3 of 4 B D 7 5 5 #5 Q p e L g horn Rd #5 g 2475 Garmisch Drive Unit 95197 Black Gore Dr B905 Red Sandstone Rd #13931 Bi1081 Vail View Dr B201040 Vail View Dr #201200 Lions Rid 7 5 Q s B uisition 1 Unit q 5 g 9s ht North Unit ht North Condos Unit 12475 Garmisch Dr #1 Villas Condo y gg 64 Sandstone 70 Bldg 11 Unit B915 Red Sandstone Rd. #11BVail Heights Condo Phase III Unit 122059 Chamonix Ln #12 2021 Vail InDEED AcLegal AddressPhysical Address Homestake at Vail Unit B2011081 Vail View Drive Unit B201Heather at Vail Unit B15197 Black Gore Drrive Unit B1Homestake at Vail Unit B2041081 Vail View Drive Unit B204Heather at Vail Unit B25197 Black Gore Drive Unit B2Sunli Ridgeview Square Townhouses, Unit 164506 Spruce Wy. #16Wren House Unit 95024 Main Gore Dr. S #9Altair Vail Inn Unit 103A4192 Spruce Wy #103APitkin Creek Park Phase III Unit 7Q3971 Bighorn Rd #7Q, Vail, CO Vail das Schone Condo Unit: A-112111 N Frontage Rd W A11Vail das Schone Condo Unit: A-132111 N Frontage Rd W A13Sandstone 70 Bldg 2 Unit A909 Red Sandstone Rd. 2ASnowlion at Vail Condo Unit 1041040 Vail View Dr #104Heather of Vail unit A85197 Black Gore Dr A8Wren House unit A85024 Main Gore Dr. S #A8Valley Condo A261524 Buffehr Crk Rd A26Aspen Tree Condo Unit 13931 Red Sandstone Rd #13Vail Heights Condo Unit 62079 Chamonix Ln #6Columbine West Bldg B Condo Unit 82823 Kinnikinnick Rd #8BVail Das Schone Condos Unit 62111 N Frontage Rd W A6Aspen Tree Condo Unit 8931 Red Sandstone Rd #8Alpen-Glo Unit 65115 Black Bear Ln #6Wren House Unit B25024 Main Gore Dr S #B2Pitkin Creek Park Phase III Unit 7J3971 Bighorn Rd #7J 2020 Total Heather of Vail Unit BSandstone 70 BuildinPitkin Creek Park Phase I Unit 5Homestake at Vail Condos Unit B20SunliSnow Lion at Vail Condo Unit 20Savo 5/18/2023 8 7 7781 000500700500111 00$84 , ,,,,, , Date 3700700 ,,, 262 $44$70,476 , $144$127$119$138 $143$150,000$145,000 Funded to Funded Funded AmountAmount F m . Cost per S g Av . Cost per bedroo g # Units# Bedrooms Av Avg. Cost per Restriction 8901218$929730412$58270535$385 861174278$12 ,,, , TOTAL VAIL INDEED ACQUISTIONS 852 883126841190012 2,149151,368121,330131,12112 145 Sq. Ft. TypeSq. Ft# Units# BedsTypeSq. Ft# Units# Beds CondoCondoCondo CondoCondo Property Property TownhouseTownhouse A A14 Page 4 of 4 B14 Unit Unit W S Rd #8 Dr y Gore horn Rd Unit 7Nhorn Road 11D ruce Wa Frontage gg p N.Main 21115024 2388 Garmisch Dr #3-B24506 S1480 Buffehr Creek Rd Unit 4 3 8 4 2 Unit ss 1 g A A 14 Unit: uisitionuisition qq Unit: Condo uare Townhouses Unit House q Schone Wren B eview S Das g en Chalets Townhouse Bld p 65 2021 Total2022 Vail InDEED AcLegal AddressPhysical Address AlRid VailBldg 2022 Total2023 Vail InDEED AcLegal AddressPhysical Address Grouse Glen at Vail Unit: 4Pitkin Creek Park Unit 7N3971 BiPitkin Creek Park Unit 11D4051 Bi 2023 Total 71 75 76 77 78 79 7: 81 82 83 84 85 86 87 88 89 8: 91 92 93 94 95 75 South Frontage Road West Housing Department Vail, Colorado 81657 970.479.2150 vailgov.com January 7, 2022 Jeffrey E. Darnall 2106 Zermatt Lane Unit D aka Vail Commons D-10 Vail, CO 81657 Re: Home Valuation and Capital Improvement Hi Jeff, Below is the current estimated resale valuation through the full month of December 2021. The HOA re- roof assessment is not included, please send me proof of payment to include the $14K in your valuation. Prior to selling be sure to provide any receipts for capital improvements on your home. The Town will confirm and approve all receipts prior to including in your resale price. Purchase Date: February 28, 2014 Current Date: December 31, 2021 Purchase price: $187,562 Price appreciation: $ 44,077 Calculation: March 2014 Thru December 2021, 7 years + 10 months 7 years x 3% per annum = 21% 10 months x 0.25% = 2.50% (3% / 12 months = 0.25% per month) 23.5% increase x $187,562 = $44,077 Capital Improvements: $ 5,103 HOA Special Assessment: $14,000, proof of payment required and not submitted Maximum Resale: $236,742 ($187,562 + $44,077 + $5,103 = $236,742) 98 Allowable Capital Improvements Amount 10% x purchase price every 10 years. Effective July 2018 15% allowed every 10 years. 2014-2018: $18,756 (10% of purchase price) 2018-2024: $28,134 Prorated based on allowable % over 10 years 2014-June 30, 2018: $8,128 10% per year July 1, 2018-2021: $9,847 15% per year Any applied capital improvements are deducted from the time frame in which the work is paid. Do not hesitate to contact me if you have questions after your review. Take care, Martha Anderson Housing Coordinator Town of Vail Page 2 99