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HomeMy WebLinkAbout2014-26 Appointment of Staff as Managing Group for Timber RidgeRESOLUTION NO. 26 SERIES OF 2014 A RESOLUTION ESTABLISHING THE TIMBER RIDGE OPERATIONS COMMITTEE AND SETTING FORTH ITS PURPOSE AND DUTIES WHEREAS, the Town owns the real property generally described as Lots 1 & 2, Timber Ridge Subdivision, Vail, Colorado, located at 1281 and 1265 North Frontage Road in Vail, Colorado (the "Property"), WHEREAS, the Town operates and manages the deed restricted employee housing facility on the Property; WHEREAS, the Property was previously owned by the Timber Ridge Affordable Housing Corporation (the "TRAHC") which was established by the Town to issue bonds for the purchase of the Property and to operate and manage the deed restricted employee housing facility on the Property; WHEREAS, on or about January 30, 2014 the TRAHC conveyed the Property back to the Town; WHEREAS, the Town Council now wishes to dissolve the TRAHC; and WHEREAS, prior to dissolving the TRAHC, the Town Council wishes to establish a Town committee to perform the functions of the TRAHC, consisting of the same Town employees who served as the Board of Directors of the TRAHC. NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: Section 1. Establishment. The Town Council hereby establishes the Timber Ridge Operations Committee (the "TROC"). Section 2. Purpose and Duties. a. The purpose of the TROC is to manage the day-to-day operations of the Property. b. In its management of the day-to-day operations of the Property, the TROC shall comply with applicable law, including without limitation the Vail Town Code. C. The TROC shall be subject to the Colorado Open Meetings Law, C.R.S. § 24-6-401, et seq., and the Colorado Open Records Act, C.R.S. § 24-72-200.1, et seq.; provided, however, that the TROC shall not hold executive sessions. d. The TROC may authorize expenditures within the budget approved by the Vail Town Council. Resolution No. 26, Series of 2014 e. All funds collected by the TROC shall be deposited in Town accounts. Section 3. Membership. a. The TROC shall consist of the following five Town employees: the Town Manager; the Finance Director; the Community Development Director; the Public Works Director; and the Facilities Manager. b. The term of each member of the TROC shall be coterminous with such member's term of employment with the Town. C. The Town Manager shall serve as the Chair of the TROC. Section 4. Meetings. a. The TROC shall hold its regular meetings on the fourth Tuesday of every month at 8:30 a.m. The TROC may call special meetings from time to time. b. All meetings of the TROC shall be open to the public. c. . A majority of the members of the TROC shall constitute a quorum for the transaction of business at any meeting of the TROC, and the vote of a majority of the members present at a meeting at which a quorum is present shall be the act of the TROC. INTRODUCED, PASSED AND ADOPTED this 16th day of September, 2014. Resolution No. 26, Series of 2014 An w P. Daly, May r ,--)