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Home My WebLink About2023-12-12 VLHA Agenda 2 3 4 5 Vail Local Housing Authority 6 About Us COMPANY PROFILE ANB is an independent community bank like no other with the strength, talent, commitment, and security investment management & trust services*, ANB customers will experience: Customizable banking products and enhanced technology to make life easier The dedication of personalized, one-on-one service Our banking centers have a sincere desire to serve their customers through their people, their services, and their ongoing commitment to helping their communities grow. The banking centers employ knowledgeable local staff who deliver an exceptional level of personalized service to their customers. Across the ANB footprint, the bank has 30 banking centers serving customers in Colorado and Wyoming. Its parent company is the Sturm Financial Group, Inc., headquartered in Denver, Colorado. 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Ļ Ǟƚǒƌķ ĬĻ ƦƌĻğƭĻķ Ʒƚ ĬĻŭźƓ ĬǒźƌķźƓŭ ƷŷĻ ŅƚǒƓķğƷźƚƓ Ʒƚ ğ ƌğƭƷźƓŭ ƩĻƌğƷźƚƓƭŷźƦ. anbbank.com 9 24 25 Vail Local Housing Authority Minutes Tuesday, November 28, 2023 3:00 PM Virtual on Zoom and in Council Chambers PRESENT ABSENT Steve Lindstrom Craig Denton Via Zoom Kristin Williams Dan Godec James Wilkins STAFF George Ruther, Housing Director Missy Johnson, Housing Coordinator 1. Call to Order 1. 1 Call to Order Meeting called to order at 2:59 p.m. 1.2 Zoom Meeting 1 1.3 Zoom Meeting 2 2. Citizen Participation 2.1 Citizen Participation 3. Approval of Minutes 3.1 VLHA November 14, 2023 Minutes MOTION: Williams SECOND: Godec PASSED: (5 - 0) 4. Main Agenda 4.1 Colorado Housing and Land Use Survey Results Presenter(s): David Flaherty, CEO & Founder of Magellan Strategies This agenda item is moved to the next meeting. 4.2 Discussion on Deed Restricted Home Demographics Presenter(s): George Ruther, Housing Director This agenda item is moved to the next meeting 4.3 2024 VLHA Operating Budget Discussion Listen and provide feedback on the VLHA 2024 Operating Budget prior to the 2024 Budget Resolution on December 12, 2023. Staff recommends that the Vail Local Housing Authority approve or approve with changes, the 2024 Operating Budget of $68,670. Presenter(s): Jake Shipe, Budget Accountant and George Ruther, Housing Director 26 The budget was presented by Shipe. The authority asked if any fund balance is reserved. Ruther suggested to request for the legal fees to be adjusted to $7,500 and the Authority agreed. Finance will make adjustments for the budget reading at the December 12 meeting. The budget resolution will be on the agenda for the next meeting. 4.4 Chamonix Townhomes Right of First Refusal Discussion Presenter(s): George Ruther, Housing Director The Authority discussed the items that were brought forth in Public Comment by several owners within the Chamonix Vail community. The consensus from the owners at the Public Comment was their desire to add a ROFR to the Chamonix Vail Community deed restriction which will allow owner first rights of properties before they go to public lottery. They wish to explore the possibilities of this route in effort for growing families to remain in the community. The Authority agrees to discuss and further explore the options and alternatives of a policy change and Ruther will follow-up with Town Attorney in effort to determine if this is an option and report back to the Authority. Ruther will get through the practical questions and legalities and then report back to the Authority so they have an opportunity to make a recommendation to Town Council. Additionally, other HOAs and Vail InDEED owners need to be considered when determining the next steps. Amendments to HOA documents would also require mortgage lender weigh in. Lindstrom reminds the Authority to consider unintended consequences that excludes other potential owners who have an equal opportunity. Williams appreciates the group exploring it, based on a compelling argument to keep families in Vail. 5. Matters from the Chairman and Authority Members 5.1 Matters from the Chairman and Authority Members Presenter(s): Steve Lindstrom, VLHA Chairman The Authority discussed what the Magellen discussion and demographic discussion may entail for next time. There will be a Authority holiday gathering in early December with more information coming soon. Williams moved to exit regular session and enter Executive Session. MOTION: Williams SECOND: Wilkins 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 certain real property acquisitions. Presenter(s): Steve Lindstrom, VLHA Chairman 7. Any Actions as a Result of Executive Session 7.1 Any Action as a Result of Executive Session Presenter(s): Steve Lindstrom, VLHA Chairman The regularly scheduled meeting reconvened at 4:13 p.m. There are no direct recommendations for Town Staff at this time. 27 8. Adjournment 8.1 Adjournment The meeting was adjourned at 4:15 p.m. MOTION: Wilkins SECOND: Williams PASSED: (5- 0) 9. Future Agenda Items 9.1 Vail Housing 2027 Land Banking Investment Banker Discussion Review Retirement and Remote Worker Policies Review Chamonix Vail Deed Restriction 10. Next Meeting Date 10.1 Next Meeting Date December 12, 2023 28 29 85 :3 2024 PROPOSED BUDGET SUMMARY OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE VAIL LOCAL HOUSING AUTHORITY 2022202320232024 ActualBudgetForecastBudget Revenue $ 16,186 $ 16,300$ 16,500$ 16,700 Middle Creek Revenue Share / Mgmt Fee 800 500 10,536 7,745 Interest Income 35,000 35,000 35,000 35,000 Ground Lease Revenue Total Revenue 51,986 51,800 62,036 59,445 Expenditures Accounting Fees 1,200 2,500 2,500 2,500 Operating, Maintenance & Contracts 4,916 66,170 66,170 72,370 Total Expenditures 6,116 68,670 68,670 74,870 Revenue Over (Under) Expenditures 45,870 (16,870) (6,634) (15,425) Beginning Fund Balance 347,990 393,860 393,860 387,226 Ending Fund Balance $ 393,860 $ 376,990$ 387,226$ 371,801 :4 RESOLUTION NO.12 SERIES 2023 A RESOLUTION ADOPTING A BUDGET AND MAKING APPROPRIATIONSTO PAY THE COSTS, EXPENSES AND LIABILITIES OF THE VAIL LOCAL HOUSING AUTHORITY, FOR ITS FISCAL YEAR JANUARY 1, 2024THROUGH DECEMBER 31, 2024. WHEREAS,the Vail Local Housing Authority board received and approved the budget for the fiscal year 2024on December 12, 2023;and WHEREAS, in accordance with CRS section 29-1-106 a notice of budget hearing has been published;and WHEREAS, a notice of this public hearingto consider the adoption of the proposed th Vail Local Housing Authority budgetwas published in the VAIL DAILYon the 5Day of December, 2023;and NOW THEREFORE, LET IT BE RESOLVED By the Vail Local Housing Authorityof Vail, Colorado, as follows: The Vail Local Housing Authorityboard adopts the submitted budget and appropriates $74,870 in expenditures beginning on the first day of January, 2024, and st ending on the 31of December, 2024. ______________________________ Steve Lindstrom, Chair, VLHA ATTEST: ____________________________ Martha Anderson, VLHA, Secretary | :5