HomeMy WebLinkAboutNorth Day Lot Public Works Town Council Memo 052008Memorandum to File
March 2, 2009
Planner: Warren Campbell
The information contained in this file pertains to the
discussion which occurred regarding the collocation of a
transit center and employee housing on the North Day Lot.
After several design iterations and multiple public reviews it
was determined that .the Town did not want to pursue
anything more than skier drop-off and employee housing on
the site, both of which were obligation of Vail resorts from
the Arabelle project. These items are included with the
approved plans for the North Day Lot simply to serve as a
history for future inquiries regarding the North Day Lot.
MEMORANDUM
TO: Vail Town Council
FROM: Public Works and Trans ortation De artm
p p ent
DATE: May 20, 2008
SUBJECT: Review of development options on the North Day Lot and a decision to
proceed to the next steps for the preferred option.
EXECUTIVE SUMMARY
The town staff and Vail Resorts Development Company (VRDC), based on the approved
amendments to the LionsHead Master Plan from April 15, 2008, have worked with the
VRDC design team in preparing various options for a North Day Lot Transit Center.
These will be presented for evaluation at the May 20th evening session. After a full
review of the work to date, the questions to be answered to move the project forward
are:
1) What transportation modes should be placed on the north day lot?
2) What are the alternatives if we don't place all the modes on the site?
3) How do we pay for it?
4) Next steps?
The staff recommendations are:
1) Place all modes on the site which include skier drop off, shuttles, and transit, meeting
as close as possible the recommended numbers required in the future.
2) No other alternative is needed except: if the LionsHead Parking Structure redevelops,
move the transit vehicles to the LionsHead site if the design for the transit center is
similar to the Open / Hillwood proposal.
3) Secure the remaining Federal dollars of $5 million; pursue other available transit
funding sources; use Tax Increment Financing of $12 million; and if a shortfall still exists,
cover the gap using capital, Real Estate Transfer Tax (RETT) or general funds.
4) Seta 60 day period to work with Vail Resorts, Inc. (VRI) to refine the design to better
meet the needs of all involved; refine costs of the design; and prepare an agreement for
council approval authorizing the town's intent to move forward with the project.
5) Modify the VRI Arrabelle housing agreement to adjust the schedule as appropriate.
6) Work with the surrounding properties to mitigate impacts.
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II. PROBLEM STATEMENT
According to the:.LronsHead Redevelopment Master Plan,
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"The infi'~strubture of LionsHead (streets, walkways, transportation systems,
parking, ijfilities, loading and delivery systems, snow removal and storage capacity)
and. i#s public and private services must be upgraded to support redevelopment
and revitalization efforts and to meet the service expectations of our guests
and residents."
Furthermore, staff has identified the following problems with the existing conditions in
the LionsHead area:
• The current LionsHead transportation situation lacks the type of facilities needed
to provide world class resort guest experiences. This lack of adequate facilities
and the impacts of the transportation system functions further impacts a majority
of guests when they interact with and pass through where the transportation
elements exist today.
• The LionsHead core lacks a sense of arrival and entry.
• Future demand will place additional burden on the lack of adequacy of current
facilities.
• The town's own LionsHead Redevelopment Master Plan states alternative
modes are important for Vail's success and yet the town lacks proper facilities to
encourage and meet their growth.
• Utilization by current transportation operations at Concert Hall Plaza and
LionsHead Center inhibit development of better pedestrian entry points.
Project Policies
• The master plans will be the guiding documents.
• The use of creative financing will be pursued to the fullest.
• To be a premier destination resort the town must meet or exceed guest
experiences. Expectations are important.
• The town must be prepared to move on opportunities as they present
themselves.
• As opportunities pass, they become irreversible.
• It takes commitment, investment, risk taking and vision to remain competitive in
the destination resort market.
• Impacts of project development will be addressed during the project plan review
• Timing is critical.
Project Objectives
• Address the transportation needs of LionsHead to meet future demands.
• Clean up (remove chaos) at East LionsHead Circle and Concert Hall Plaza to
provide a better arrival and guest experience.
• Use Vail Reinvestment Authority (VRA) funds to invest in public facilities to
enhance the overall redevelopment of LionsHead.
• Mitigation of the negative impacts on adjacent residential uses will be an
important aspect of the design.
• Allow redevelopment opportunities to improve and enhance the eastern and
western gateway entrances. These entry connection points become even more
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important in the future as higher intensity projects, such as Sver Vail and a
redeveloped LionsHead Parking Structure, evolve.
• Introduce more pedestrian traffic from the north to increase economic vitality of
LionsHead: the "North Street" concept.
• Address the Americans with Disabilities Act (ADA) issues with the Concert Hall
bus stop.
• Keep transportation solutions next to the frontage road for efficiency; ease of
discovery; smart urban planning regarding the pedestrians in ILionsHead; and
future long term transportation opportunities.
III. BACKGROUND
The following information provides background for this discussion and
summarizes the various actions taken by the town and others leading up to this
decision point.
• The Vaif Town Council adopted the LionsHead Redevelopment Master
Plan on December 15, 1998. The Master Plan, in part, identifies the
importance of improving public transportation in the LionsHead area.
• The LionsHead Redevelopment Master Plan identifies the North Day Lot
as the preferred location for public transit improvements in LionsHead.
• March, 2004, the Vail Town Council created the LionsHead Urban
Renewal Authority. The purpose of the Authority is to direct the future
redevelopment of the LionsHead area and to establish a Tax Increment
Financing District (TIF) as a funding source.
• September, 2007, the Vail Town Council entered into a development
agreement with Open/Hillwood Partners to redevelop the LionsHead
Parking Structure. In conjunction with the redevelopment of the
LionsHead Parking Structure, it has been anticipated that a public transit
center would be part of the future development project. To date, the future
development of the public transit center has been stalled in part due to
the presence of a restrictive deed on the parking structure property
precluding certain uses on the site.
~ December, 2007, the Vail Town Council directed Vail Resorts
Development Company (VRDC) to develop the North Day Lot pursuant to
the recommendations outlined in the LionsHead Redevelopment Master
Plan (i.e., employee housing and public transit improvements).
January, 2008, town staff presented the LionsHead Redevelopment
Master Plan recommendations for the North Day Lot to the Vail Town
Council. The Town Council directed VRDC to comply with the master
plan recommendations for the site which includes employee housing and
a transit center. The transit center would provide skier drop off, hotel
shuttle drop off and public transit buses.
February, 2008, VRDC submitted a development application for
redevelopment of the North Day Lot which includes all of the stated uses
and requested the town commit $14.3 million to fund the town's portion of
the development for transit.
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• On April 14, 2008, the Planning 8~ Environmental Commission (PEC)
denied a request for a master plan text amendment to allow commercial
development of the ground level of the North Day Lot.
• On April 15, 2008, the Vail Town Council approved Resolution #9, Series
of 2008, amending the detailed plan recommendations for the North Day
Lot to include a public transit use on the entire ground level of the North
Day Lot and to provide greater flexibility in the application of the
prescribed development standards for the site.
• On May 6, 2008, the Vail Town Council was briefed on the progress to
date to modify the development application to comply with the master
plan recommendations and provide various levels of public use.
IV.
GUIDING DOCUMENTS AND PLANNING POLICIES
LionsHead Redevelopment Master Plan (in part)
2.1 Purpose of the Master Plan (in pan`)
" (LionsHead) fails to offer a world class resort experience. "
"This master plan is a comprehensive guide for ... municipal
officials responsible for planning public improvements."
2.2 Definition of a Master Plan
" It articulates a community's fundamental land use policies,
principles, and goals in a broad and general way. It plans for
the future physical development or redevelopment of an area of
the community, including its functional and circulation
systems and its public facilities."
The land use policies in a master plan are generally implemented
through zoning ordinances. Existing zoning and land use codes
may be modified and new provisions enacted in order to conform
to the master plan and carry out the plan's objectives.
Through the adoption of the master plan, six fundamental design objectives
were set that relate to the entire LionsHead study area. The six design
objectives are:
o The pedestrian environment,
o Connections to the natural environment,
o Vehicular circulation,
o Transit,
o Service and delivery, and
o Parking
According to Section 1.2 Master Plan Framework, Transit,
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"The master plan considers that an efficient and flexible public transit
system serving the entire LionsHead study area, including potential
new development in the west end district, is essential to its (LionsHead]
future. "
Pursuant to Subsection 1.3.5, Transit, Recommended Actions, the master plan
recommends the following actions be taken within LionsHead regarding public
transit:
o Create a transportation center on the North Day Lot to accommodate
local and regional transit, local shuttles, and charter buses.
o Remove the existing Concert Hall Plaza bus drop-off.
o Relocate the existing LionsHead Place regional bus stop to the
North Day Lot.
o Improve the now difficult left turn from East LionsHead Circle onto the
South Frontage Road.
o Connect future development in West LionsHead to the Town of Vail in-
town transit route.
o Investigate alternative clean transit technologies.
o Investigate potential interposal connections to futures non-vehicular
regional transit system.
In accordance with Subsection 2.3.5, Improved Infrastructure, Policy Objectives,
the following policy objective is stated in the master plan:
"The infrastructure of LionsHead (streets, walkways, transportation
systems, parking, utilities, loading and delivery systems, snow removal
and storage capacity) and its public and private services must be
upgraded to support redevelopment and revitalization efforts and to
meet the service expectations of our guests and residents."
Chapter 4, Master Plan Recommendations -Overall Study Area, of the master
plan states:
"This section of the master plan addresses issues that affect LionsHead
as a whole. These issues, and recommendations to address them,
should be considered in all planning and policy decisions as
LionsHead develops.
To that end, the following sections and subsections of the master plan provide
direction for consideration in all planning and policy decisions:
4.5 Public Transportation
An efficient transit system is critical to the character and environmental
quality of any pedestrian-oriented resort. Goals identified by the master plan
regarding transit include:
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4.5.2.3 Create a New Stop at the North Day Lot Transportation
Center
A new Town of Vail transit stop at the proposed transportation center
on the North Day Lot will replace the existing stop at Concert Hall Plaza.
Likely to be on the West Vail transit routes, this stop will coordinate
with the regions/ bus stop and deliver West Vail transit riders to the
newly created north LionsHead pedestrian portal.
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4.5.3 Addressing Existing Problems
4.5.3.4 Concert Hall Plaza
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It is recommended that the existing Concert Hall Plaza transit
stop be eliminated.
4.6.6 Creation of a New Transportation Hub on the North Day Lot
A principal component of the LionsHead transportation and circulation
network is the creation of a transportation center on the North Day Lot.
This facility will remove transit and service vehicles from other areas of
LionsHead and create a major new entry point into the LionsHead
pedestrian core. This concept is fully discussed in chapter five.
Chapter 5, Detailed Plan Recommendations
The master plan is not intended to limit or eliminate ideas relating to
specific parcels; any proposal consistent with this framework should be
considered even if it was not anticipated in this document. With that said,
the master plan identifies the following detailed recommendations for the use of
the North Day Lot.
5.9 North Day Lot
a. "The North Day Lot should be developed as a community
Transportation center to consolidate skier drop-off, local and
regional transit, local and regional private shuttles, and charter bus
drop-off and pick-up (see figure 5-13). A below-grade service and
delivery facility could be constructed underneath the transit facility. By
relocating these functions from their existing locations to one easily
accessible location, this would improve the quality of vehicular and
pedestrian circulation in LionsHead and create a significant new
pedestrian portal into the center of the LionsHead retail mall.
A critical consideration in the planning and design of Phis facility will be
its impact on the adjacent Landmark Tower and Townhomes and the
Westwind. Depicted in pgure 5-13a, a linear building is recommended
at the southern edge of the site to screen the lower levels of the
Landmark Tower from the Transit center. This facility could house a bus
shelter and waiting area, an information center, public restrooms, a sma//
food and beverage operation, and an elevator core to the pedestrian mall
level for ADA access needs. To the east, earthwork, landscaping, and/or
other screening measures should be considered to buffer the Westwind. A
more comprehensive solution is fo cover The facility with another level
or two of development -perhaps for offices or employee housing - or
with a roof. (Memorable European antecedents exist for grand, covered
transportation centers.) Specifically, the design of the transportation
center should address all impacts: visual, security, sound, and smell
that may affect adjacent properties. Both the Westwind and the
Landmark should be closely involved in the transit center planning and
design process.
Chapter 9, Implementation
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9.1 Project Prioritization
9.1.1.1 North Day Lot Transit Center
a. It is a prerequisite for other critical projects.
It will be impossible for other critical projects, or very nearly
impossible, to proceed with other essential projects prior to the
construction of the transit center, among them:
o East LionsHead Pedestrian Portal
o Concert Hall Plaza Redevelopment
o Retail Expansion
b. It will energize a new corridor into LionsHead from the north.
1998 estimate for the transit center was $10.1 million
Vail Reinvestment Authority
The Vail Reinvestment Authority (VRA) has prepared the LionsHead Public Facilities
Development Plan, March 2004. The Vail Town Council adopted Resolution No. 11,
Series of 2004, as per state statute approving the plan. Below is a list of projects that
was sent to Eagle County as a part of the adopted project plan. The LionsHead Transit
Center has been identified as an appropriate project for tax increment financing. The list
of projects and their estimated use of TIF dollars includes:
• LionsHead Transit Center $ 12.0 million
Eagle County Rural Transportation Authority (ECO)
and TOV buses, skier drop off and shuttles
• Frontage Road Improvements $ 15.0 million
• West LionsHead Circle Pedestrian Improvements $ 1.5 million
• East LionsHead Portal $ 3.0 million
• East LionsHead Circle $ 1.0 million
Total $ 32.5 million
Vail 20/20 (in part)
Vision
"... (Vail) has reinforced its transit oriented lifestyle. Transit, walking and biking are the
major modes of travel along with extensive multi-model connections between major
destinations... "
Goal #1
"Create an integrated transportation system with high levels of service that caters to the
many needs of our residents, guests, and employees... "
• Ensure that all pedestrians have a quarter mile or less to walk from transit
stops to major destinations.
• Ensure that walking distances from high density residential areas to
transit stops are one sixth of a mile (5 minutes).
• Incorporate transit oriented development in mixed use developments.
• Provide peak time line haul service of five to eight minutes.
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• Provide outlying service of 15-20 minutes during peak times.
• Coordinate with ECO to ensure service can be provided since demand is
driven by Vail's aggressive parking management and travel demand
management strategies.
• Ensure that Vail's mass transit system is interconnected with the county
and other regional systems.
Vail Transportation Master Plan and Studies (in part)
• The current pedestrian/vehicular conflicts at the LionsHead Parking
Structure and LionsHead Mall are significant and should be addressed.
• The lack of skier drop off needs to be addressed.
• The in-town transit's ability to make the left turn from E=ast LionsHead
Circle significantly hampers the service.
• The growth of regional transit has outgrown the current facilities.
• The mix of vehicles and uses at East LionsHead Circle and Concert Hall
Plaza (West LionsHead Plaza) needs to be addressed.
• Facilities need to be put in place to meet the projected future demand.
• Charter buses will need to find a new location with any development of
the Charter Bus Lot (east end of LionsHead Parking Struct:ure).
Existing needs and future projections for the following transportation uses in LionsHead:
Current Facilities
Existing Need
Future Proiecl:ion
1 in town
1 outlying
1 regional
4 shuttles
0 skier drop off
15 charter parking
1 in town route
2 outlying route
3 regional
4 shuttles
8 skier drop off
4 charter drop off
2 in town route
3 outlying route
4 regional
6 shuttles
12 skier drop off
5 charter drop off
In order to accommodate the uses, the following long term recommendations are:
• Hotel shuttles and skier drop off on North Day Lot, taking full advantage of all the
public transit amenities left after initial construction of a transit center.
• Town and regional buses placed at the redeveloped LionsHead Parking
Structure.
• In town route stays in front of the LionsHead Parking Structure.
• Charter buses are accommodated at Ever Vail.
Previous funding requests include:
Colorado Department of Transportation (CDOT) 2035 statewide plan: Identified
as the top transit center in the Intermountain Regional Transportation Plan (five
county area) and the tenth highest rated project overall.
Eagle County Capital Projects funding request: Requested for 2010, with Eagle
County making commitments for the current budget year.
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State Senate Bill 1 transit funds: The top rated project not to be funded at the
time of the request because a specific site and timeline were not known, which
were two critical rating criteria.
Federal Transit Administration 5309 funding requests: The top transit facility in
the. state transit coalition funding requests to Congress.
All of these requests were based on an estimated cost of $15 million.
V. FINANCING & FUNDING
The following sources could be used to fund project costs of $15 to $19 million:
Tax Increment Financing (TIF) bonds $12.0 million
Federal Transit Administration 5309 funding already committed $ 1.4 million
Subtotal $13.4 million
Federal Transit Administration 5309 funding requested, not committed $ 3.4 million
Eagle County capital funds requested but not committed $ 3.0 million
CDOT funding through Senate Bill 1 (maximum total available $9M) $ 1.0 million
The ,latest estimates of TIF funding are attached. The $12 million estimated bonding
capacity is based on incremental property tax revenue generated by the Gore Creek
Residences and the Arrabelle only and could be available to coincide with a spring 2009
construction start. The estimate further assumes bonds would be issued for 21 years,
the remaining life of the TIF district, at 6% with a 20% debt coverage ratio.
If Council chooses to use TIF funding for the transit center, additional bonding capacity,
which will become available as new construction is completed, could be used for other
projects within or with nexus to the LionsHead TIF district. Completion of the Ritz
Carlton Residences, Lion Square Lodge North, and Landmark could generate a total of
$15 million in 2012. Strata could generate an estimated $4.4 million in 2014 assuming a
2009 start of construction. EverVail, the LionsHead Parking Structure, and other
projects such as the LionsHead Center, Lift House/Vail Arcade/Vail Pride, and Concert
Hall Plaza could also create bonding capacity for future projects such as the Simba Run
underpass.
Federal Transit Administration 5309 funding of $5.0 million has been requested and $1.4
million of that amount has been awarded to Vail for a transit center.
Eagle County funding has been requested through the county's budget process each
year. However, commitments from the county are only made for the current budget year
and our requests have been for 2010 as part of afive-year plan. This is currently bonded
at $1.1 milliori dollars.
Senate Bill 1 funding is currently slated as an additional $9 million for the entire state
over two years and there is some discussion about cutting that amount. Avon received
$2.5 million for a transit center project; however, the total funding available at that time
was approximately $63 million over five years.
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If none of the outside funding sources become committed to the transit center, Council
could consider using funds from the Capital Projects Fund, the General Fund, and the
RETT Fund (for park, path, and streetscape components).
Additionally, Vail Resorts has an obligation from the Arrabelle development to provide
skier drop-off, which could reduce the cost of the transit center to be born by the town.
VI. WHY NOW?
• The LionsHead Redevelopment Master Plan identifies the North Day Lot as the
preferred location for public transit improvements in LionsHead.
• LionsHead revitalization has begun, URA and TIF financing .are on track to
produce over $ 27 million by 2012.
• $ 5 million in federal dollars are in place to be delivered, after more than six years
of lobbying efforts.
• North Day Lot application is pending now.
• State Senate Bill 1 transit funding requests for additional projects are due in July
with a decision in September. A specific project with a specific si1:e and schedule
that meets the funding period is critical. Staff would request funding if we move
forward with transit on the North Day Lot.
• The only other viable site left, the LionsHead Parking Structure, would be
delivered in 2105 -2016 if planning were to start today. The current deed
restriction prohibits moving forward for this use. This may never happen or a
different development plan could evolve with a less superior transit center
design.
• Gas prices and parking demand are at all time highs. Alternative mode
enhancement is the right decision to help address the issue and meet future
demands.
• Timing: LionsHead Parking Structure earliest delivery is 2016; East LionsHead
portal could be ready for improvements; East LionsHead Circle is available for
improvements; Concert Hall will be able to redevelop. It removes a major
unknown regarding TIF project phasing and prioritization.
Consequences of inaction
• Federal dollars won't be available if we decline the current appropriation.
• Utilization by current transportation operations at Concert Hall Plaza and
LionsHead Center will continue to inhibit development of better pedestrian entry
points.
• Therefore the town will have given up federal bus dollars. The town can't switch
to buses for FY 2008 and 2009. Therefore, the town loses three ways: the town
doesn't receive bus dollars; the town gives back facility dollars; the town pays our
share of our lobbyists' bill to secure the facility dollars.
• TIF project prioritization stays unresolved because the town has too many
unknowns.
• Clock is ticking on TIF dollars: if the town doesn't do this, the town will begin to
invest in the LionsHead Parking Structure, frontage roads and cleaning up the
entries to East LionsHead and Concert Hall Plaza, all projects in which the town
has developers interested in making investments.
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• If the town began design on these projects today most would not begin
construction until 2010 when the town will have $20-25 million in TIF dollars.
Why Wait ?
• May have more information about federal dollar commitments; however, the town
may not have a site.
• There may or may not be a resolution of the LionsHead parking structure.
VII. EVALUATION OF THE ALTERNATIVES
The attachment labeled North Day Lot Development Options is a side by side
comparison of the four alternatives and provides a comprehensive evaluation.
OPTION 1 TRANSIT DEVELOPMENT WITH EMPLOYYEE HOUSING AND BELOW
GRADE PARKING
Brief Description
Option 1 provides four transit bays, nine skier drop off spaces, and 2-3 shuttle spaces.
Buses and transit enter from the west side off West LionsHead Circle and exit to the
frontage road. Skier drop off and employee housing enter off the frontage road and exit
onto West LionsHead Circle. The employee housing is placed on the western portion of
the site and parking is provided underneath the transit center.
Layout/Circulation/Capacity
The circulation patterns of Option 1 optimize traffic operations by dividing the
movements in opposite directions. This allows a D Level of Service in all future
operations for the buses and shuttles making left turns out of the site onto the frontage
road. Skier drop off traffic heading west will be forced at some date in the future to use
West LionsHead Circle to connect to the Ever Vail Roundabout to facilitate the left
movement. In addition, all lefts from the West LionsHead Circle intersection will use
West LionsHead Circle by the Marriott and the future Ever Vail roundabout. This pushes
additional traffic crossing a major pedestrian connection between the Concert Hall Plaza
entry and Ever Vail. This option requires a variance from CDOT for access spacing;
however, CDOT has given a verbal approval if this is for public transit.
Cost
The cost of this option from VRDC is in the $15-19 million dollar range, which includes
all administrative and financing fees.
Neighbor Concerns and Mitigation Opportunities
The transit is close to the adjacent neighbors. Landmark and Westwind are concerned
about the proximity. The closeness of the transit requires a variance to construct a
continuous enclosure wall along the Landmark property. A partial screen can be
constructed under the current codes. In the future a building would buffer Westwind from
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most impacts. Vertical circulation enhancements would benefit the neighborhood in
addition to having adjacent in town bus access.
OPTION 2 FULL TRANSIT DEVELOPMENT WITH EMPLOYEE HOUSING AND
BELOW GRADE PARKING
Brief Description
Option B provides five transit bays, nine skier drop off spaces, and four shuttle spaces.
The traffic patterns are similar to Option A with buses and shuttles entering from the
west side off of West LionsHead Circle and exiting to the frontage road further to the
east of option A. Skier drop off and employee housing enter off the frontage road and
exit onto West LionsHead Circle. The employee housing is placed on the western
portion of the site and parking is provided underneath the transit center. This layout
allows buses to be four feet farther away from the south property line.
Layout/Circulation/Capacity
The circulation patterns of Option 2 optimize traffic operations by dividing the
movements in opposite directions. This allows a D Level of Service in all future
operations for the buses and shuttles making left turns out of the site onnto the frontage
road. Skier drop off traffic heading west will be forced at some future date to use West
LionsHead Circle to connect to the Ever Vail Roundabout to facilitate the left movement.
In addition, all lefts from the West LionsHead Circle intersection will use West LionsHead
Circle by the Marriott and the future Ever Vail Roundabout. This pushes additional traffic
crossing a major pedestrian connection between the Concert Hall Plaza entry and Ever
Vail. This option requires a variance from CDOT on access spacing as well; however,
this variance has more deviation from the code than option 2.
Cost
The cost of this option from VRDC is in the $15-19 million dollar range which includes all
administrative and financing fees.
Neighbor Concerns and Mitigation Opportunities
The transit. is four feet farther away from the south property line. The adjacent neighbors
Landmark and Westwind are concerned about the proximity. A transit enclosure wall can
be constructed along the Landmark property without a town setback variance. In the
future a building would partially buffer Westwind from most impacts. Any podium
overhead could be constructed and an enclosure wall could be connected down.
Vertical circulation enhancements would benefit the neighborhood in addition to having
adjacent in town bus access.
OPTION 3 SKIER AND SHUTTLE DROP OFF WITH EMPLOYEE HOUSING (WEST)
AND ON GRADE PARKING
Brief Description
This option removes the transit from the site and focuses on the skier drop off and
shuttle drop off. It provides up to 5 shuttle spaces and 9-14 skier drop off spaces on the
eastern portion of the property. The employee housing enters and exits the site from
West LionsHead Circle. The skier drop off and shuttles enter and exit the site from the
frontage road. The employee housing is placed on a podium on the western portion of
the site and parking for the housing is on grade underneath the podium.
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Layout/Circulation/Capacity
The circulation patterns for Option C require that the skier drop off and shuttles enter
and exit onto the frontage road. In the future, the Level of Service of this left turn, goes to
Level of Service F and requires an alternative exit solution. The alternative would be the
left turns during the peak hours would be restricted and all traffic would travel east.
Those wanting to go west would use the future roundabout at East LionsHead Circle to
turn around to go west. The travel time of this solution is the same as the traffic on West
LionsHead Circle going past the Marriott to the Ever Vail roundabout.
Cost
The cost of this option from VRDC is in the $7-8 million dollar range which includes all
administrative and financing fees.
Neighbor Concerns and Mitigation Opportunities
The large open area will need to be screened; however, due to no transit vehicles, there
is less impact. To raise the skier drop off and shuttle areas up to the standards of the
resort on this option, vertical circulation improvements would enhance the neighborhood.
OPTION 4 SKIER DROP OFF ONLY WITH EMPLOYEE HOUSING (EAST) AND ON
GRADE PARKING
Brief Description
This proposal removes the transit and shuttles from the site and provides space for 9
skier drop off spaces. All the site access enters and exits from West LionsHead Circle.
The housing is split between on grade and podium, built on the eastern portion of the
site. All employee housing parking is on grade with a portion underneath the housing
and additional parking enclosed on the site.
Layout/Circulation/Capacity
Option 4 skier drop off traffic will need to find the entry to this area from the frontage
road as no direct access will be provided. In addition, those accessing the spaces will
need to drive through a residential parking lot to arrive at the skier drop off spaces. The
ability to make this a welcoming entry and relay a clear message that this is the skier
drop off for all of LionsHead will be a difficult challenge. Skier drop off traffic heading
west will be forced at some date in the future to use West LionsHead Circle to connect to
the Ever Vail Roundabout to facilitate the left movement. In addition, all lefts from the
West LionsHead Circle intersection will use West LionsHead Circle by the Marriott and
the future Ever Vail roundabout. This pushes additional traffic crossing a major
pedestrian connection between the Concert Hall Plaza entry and Ever Vail.
Cost
The cost of this option is VRDC's obligation if it is determined to meet their skier drop off
requirement
Neighbor Concerns and Mitigation Opportunities
Neighbors are not concerned due to elimination of transit. Screening of and covering of
parking will be required. No pedestrian improvements from the mall will be constructed.
VIII. COST DETERMINATION
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Costs for the various options are comprised of different components th<~t make up the
overall cost. These include:
• Underground parking verses on grade parking for the employee housing
component
• Frontage road access and pedestrian overpass access modifications to meet
ADA
• Transit deck (lid) on any underground parking
• On grade transit access improvements and pedestrian circulation improvements
• Transit amenities such as rest rooms, heated waiting areas, transit ticket
dispensing and vending dispensing
• Screening and enclosures
• Housing on a podium verses on grade
• Vertical circulation from LionsHead Mall to the North Day Lot elf:vators, heated
stairs and escalators for ADA access
In addition to the hard costs, there are the direct costs of the general contractor on the
project. This include misc. directs, general conditions, insurance and bonding
requirements, fee and at this time a ten percent general contactors contingency. Some
of these costs are directly related to time and as the length of the project completion
increases the cost of the project goes up.
There are also soft costs for the project performed by VRDC or by consultants. These
include:
• Project management
• Professional fees for design, construction observation and testing
• Fees for taps, plan review and project inspection fees we assume out sourced
verses town of Vail performed
• Builders risk insurance and liability insurance
• Furniture, fixtures and equipment allowance
• Warranty and project close out costs
• Construction project financing
• Legal fees to cover the cost of agreements between the town and Vail Resorts
• Project contingency
• Town of Vail owner representative to oversee the project from the town's
prospective
• Town contingency
Not all of the options have the same components involved in the pricin<l. The way the
cost at this time is calculated is that the difference between the costs to construct Option
4 verses the cost to construct any other option.
IV STAFF RECOMMENDATION
Listen to the presentation and use the goals and policies of the LionsHead Master Plan,
the adopted Vail Reinvestment Plan and the update on the transportation plan regarding
the future needs assessments and recommendations. Determine the answers to the
questions we posed. After a full review of the work to date, the questions to answer to
move the project forward are:
15
1) What transportation modes should be placed on the North Day lot?
2) What are the alternatives if we don't place all the modes on the site?
3) How do we pay for it?
4) Next steps?
The staff recommendations are:
1) Place all modes on the site which include skier drop off, shuttles, and transit, meeting
as close as possible the recommended numbers required in the future.
2) No other alternative is needed except: if the LionsHead Parking Structure redevelops,
move the transit vehicles to the LionsHead site if the design for the transit center is
similar to the Open / Hillwood proposal.
3) Secure the remaining Federal dollars of $5 million; pursue other available transit
funding sources; use Tax Increment Financing of $12 million; and if a shortfall still exists,
cover the gap using capital, Real Estate Transfer Tax (RETT) or general funds.
4) Seta 60 day period to work with Vail Resorts, Inc. (VRI) to refine the design to better
meet the needs of all involved; refine costs of the design; and prepare an agreement for
council approval authorizing the town's intent to move forward with the project.
5) Modify the VRI Arrabelle housing agreement to adjust the schedule as appropriate.
6) Work with the surrounding properties to mitigate impacts.
ATTACHMENTS
Vail Reinvestment Authority estimated tax increment financing worksheet
North Day Lot employee housing units and Transit Options May 2, 2008, prepared by
OZ Architecture
Comparative worksheet
Frequently asked questions
16
Frequently Asked Questions on Lionshead Transit Center
If we do not put transit buses on the North Day Lot, what are the alternatives?
We could clean up Concert Hall Plaza to function better; however, loading and delivery
still operates from this site. There are major accessibility ADA issues. A revised layout
doesn't meet today's demand, let alone future demand. Cost: $2 million
Modify the Lionshead Parking Structure to accommodate the demands for shuttle and
transit. This alternative removes significant parking spaces, reconfigures the entrance to
the parking structure, improves the frontage road, raises code issues that must be
addressed with the current parking structure and is the farthest site away from major
destinations. Cost: $15-20 million
Wait for the deed restriction to be modified to allow the redevelopment of the Lionshead
Parking Structure and anticipate the development proposal at the time accommodates
transit as the current Open Hillwood proposal does. Cost: $5 million
If we do not put shuttle buses on the North Day Lot, what are the alternatives?
If shuttles remain on East Lionshead Circle, reconstruct the East Lionshead Plaza to
better accommodate shuttles. Cost $ 4 million
If we don't put skier drop off on the North Day Lot, what are the alternatives? If a
substandard skier drop off solution is not as successful for guest expectations
and experiences, what are the alternatives?
Construct a roundabout at East Lionshead Circle to accommodate traffic circulation and
reconfigure the East Lionshead Plaza to function better Cost for both: $8 million
What is the time line of the federal transit dollars?
We have received $1.4 million in federal fiscal year (FY) 2008 and we have up to three
years to spend the funds, including the year we have received them. We are expected to
receive the remaining two payments in federal FY 2009 and federal FY 2010.
If we don't use our federal transit dollars, can we use them for buses?
No: The Colorado Association of Transit Agencies (CASTA) splits the federal request
into two categories: rolling stock and facilities. If we do not use the facility funds, they
would revert to the next transit facilities in the funding request line.
We would have to get back in line for future years rolling stock. The earliest would be
2010 as the 2009 request is being finalized now.
If we postpone the acceptance of federal transit dollars, can we receive dollars in
the out years?
It is very unlikely we would receive them when we would need them. CASTA prioritizes
projects amongst all agencies within Colorado. There is a waiting list of agencies who
have projects competing for limited funds. Vail will have a hard time convincing the
coalition we can deliver on a future project based on our failure the first time.
What additional administrative requirements are necessary when federal transit
dollars are used for the construction of the transit center?
There is an environmental clearance process during design. The project must be bid.
There are disadvantage business enterprise milestone goals that need to be met.
Minimum wage requirements for various job skills used on the job must be met. There
are reporting requirements regarding all payments and goal compliance.
What ADA requirements are triggered with transit being placed on the North Day
Lot regarding vertical separation to the Lionshead Mall?
All the new construction would need to meet (ADA) laws and requirements. In addition,
the accessible route from the transit center to the destination would be reviewed. This
means that an elevator would be required to make the route accessible to the Mall.
Shuttles?
The new construction would need to meet ADA requirements; however, the complete
accessible route would not have to be enhanced if there is a reasonable alternative
solution. This alternative is continued use of the Subway site for accessibility needs and
the use of the town's pars-transit service to meet any other needs.
Skier drop off?
The new construction would need to meet ADA requirements: however, the complete
accessible route would not have to be enhanced if there is a reasonable alternative
solution. This alternative is the accessible parking spaces on the Lionshead Center lot.
We would need to memorialize a permanent easement so these spaces are available for
all future ADA users.
Does all the Tax Increment Financing get expended with this project?
No. The first $12.1 million is used in 2009 with this project. There is $15 million available
in 2012 and likely another $ 4.4 million available in 2014.
What are our chances on future federal dollar commitments?
The federal dollars received by Colorado are split 60% for rolling stock and 40% for
major transit facilities. Colorado has received from $4 million to $14 million dollars with
an average around $10 million dollars per FY. Vail is sharing the facilities dollars with
one or two entities for most years.
Vail Reinvestment Authority
Estimated Bonding Capacity
Assessed Average Annual Bonding Capacity
Project Valuation Mill Levy Revenue 2009 2012 2014
Arrabelle & Gore Creek Place 27,218,000 45.555 1,240,000 12,156,000
Ritz Carlton Residences 32,647,660 45.555 1,487,000 13,417,000
Lions Square North 1,916,000 45.555 87,000 785,000
Landmark 2,232,000 45.555 102,000 920,000
Strata 11,569,000 45.555 527,000 4,438,000
Total 75,582,660 3,443,000 12,156,000 15,122,000 4,438,000
Assumptions:
Bonds are issued for the remaining life of the TIF district - 21 years for bonds i ssued in 2009; 18 years for
bonds issued in 2012; and 16 years for bonds issued in 2014
Interest rate is 6%
Required debt service coverage ratio is 20%
C:\DDCUME-1 WDMINI-1\LOCALS-11Temp\XPgrpwise1080520 North Day Lot TIF 5/19/2008
Vail Reinvestment Authority
Estimated Property Tax Increment and Bonding Capacity
Budget Year
Assessment Year
Step 1: Changes in value from prior year due to redevelopment
New construction (Arrabelle)
Adjustment for appeals
Prior exempt, now taxable
Demolition
Prior taxable, now exempt
Net Increase due to redevlopment
Step 2: Percentages attributable to Prior Base and Prior Increment
Total valuation -prior year
Prior base baluation
Prior increment
Prior base percentage
Prior increment percentage
Step 3: Detemine Adjusted Reappraisal Valuation
Current valuation after reappraisal & new construction
Less: increase due to redevelopment
Adjusted reappraisal valuation
Step 4: Apportionment for Adjusted Base and Increment
Current Adjusted reappraised valuation
Adjusted new base
Adjusted increment
Step 5: Determine total increment for current year
Adjusted increment from step 4
Plus increment due to redevelopment
Total increment for current year
New base for current year
Increment for current year
Total TIF area valuation for current year
Average TIF Mils
Estimated TIF revenue
Estimated amount of bonds at 6% until 2030 with 20% coverage ratio
issued in 2009
2008
2007
17,025,210
(3, 742,898)
13,282,312
64,403,140
57,612,720
6, 790,420
89.456%
10.;544%
121,734,684
(13,282,312)
108,452,372
108,452„372
97, 017,.154
11,435,218
11,435,218
13,282,312
24, 717, 530
97, 017,154
24,717,530
121, 734, 684
45.,'i50
1,125, 000
C:IDOCUME-1\ADMINI-1\LOCALS-11TemplXPgrpwise1080520 North Day Lot TIF_1
2009
2008
2,500,000
2,500,000
121, 734, 684
97,017,154
24, 717, 530
79.70%
20.30%
124,234,684
(2,500,000)
121, 734, 684
121,734,684
97,017,154
24, 717, 530
24, 717, 530
2,500,000
27,217,530
97,017,154
27, 217, 530
124, 234, 684
45.550
1,240,000
12.1
5/19/2008