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Home My WebLink About1970-03-16 Town Council MinutesOFFICE COPY== DO NOT REMOVE • _• • MINUTES OF THE MEETING VAIL BOARD OF TRUSTEES MARCH 15, 1970 Mayor Dobson called the meeting to order at 8:00 p.m. in the Manor Vail Conference Room. ROLL CALL found the following members present: Mayor John Dobson Trustee Johnny Kaemmer Trustee Thomas Steinberg Trustee Richard Bailey Trustee C.E. Kindel Trustee John Donovan Trustee Joseph Langmaid Others present: Blake Lynch, Terry Minger, Larry Robinson k I. APPOINTMENT OF ELECTION JUDGES. Upon motion duly made by Trustee Bailey and seconded by Trustee Steinberg, the following resolution was unanimously adopted by the Board: BE IT RESOLVED: that the election judges, clerks and alternates selected and appointed by the Board of Trustees shall serve at the forthcoming election scheduled for April 7, 1970, in accordance with the laws of the State of Colorado. Judges Fran Moretti Jim Slevin Bob Lazier Clerks Bill. Hanlon Barbara Parker Alternates Phil. LaMantia (judge) George Knox, Jr. (judge) Sharon Canada (judge) Betty Seibert (clerk) Bruce Barthel (clerk) Blake Lynch noted that the following nomination petitions had been received for Mayor and Trustees: Mayor: John Dobson; Trustees: Clayton Freeman, John F. Donovan, Albert G. White, Charles P. Anderson, Hans A. Weibel, Robert R. Clark, Thomas I. Steinberg, and Richard Bailey. II. BUS PURCHASE. Blake Lynch briefly explained the arrangement under which we gain title to the new shuttle bus. Vail t Associates will give us a check for $7,225. We in turn will sign the agreement (Exhibit A) whereby we give the bus dealer this amount. The Town obtains title to the bus and it will subsequently revert back to Vail Associates. Per motion by Trustee Donovan and by Trustee Steinberg, the following resolution was • unanimously passed by the Board: "Be it resolved, that the Board of Trustees of The Town of Vail hereby ratifies, affirms, and authorizes the execution of an Agreement dated March 13, 1970 by and between The Town of Vail and Vail Associates, Inc. conerning the respective interests The Town and Vail Associates, Inc. have in a 1970 Ford Bus, copy of which is attached to the minutes of this meeting and made a part hereof by reference." After the April 7 election, this resolution will be ratified by the new Board of Trustees. III. UNDERGROUND UTILITIES. Blake reviewed Roger Brown's (Homeowners' Association) request for financial participation in installation of underground utilities in the Beaver Dam, Forest and Rock Ledge Road areas. He noted that VAI has agreed to contribute to the trenching cost and suggested that the Town do likewise. It was the general consensus of the Trustees that the Town should share in this endeavor. Blake will contact them re the exact amount. IV. FINANCING OF MUNICIPAL BUILDING Blake reviewed his memo of March 16 to the Trustees, attached hereto as Exhibit B. It mainly illustrated the difference between financing with general obligation bonds (in the future when the Town's debt limit increases) and through a non-profit corporation, with construction beginning this summer, is approved. After some discussion on the possible uses of superfluous space in the municipal building, Trustee Kindel made motion and Trustee Donovan seconded motion to approve formation of non-profit corporation for purposes of financing the municipal complex. VOTE: Approve application for, and formation of, non-profit corporation to finance municipal complex. Mayor John Dobson: YES Trustee Johnny Kaemmer: YES Trustee Thomas Steinberg: YES Trustee Richard Bailey: YES Trustee C.E. Kindel: YES Trustee John Donovan: YES Trustee Joseph Langmaid: YES Blake will ask Dan Herrington of Boettcher to go ahead with application. Blake noted that he has spoken to Mr. Kerr, Regional Director of the Post Office Department, who expressed a desire to start construction on the local PO this summer. With no further business to be discussed, the meeting adjourned at 9:10 p.m. page two A G R E E M 4 N T This w1.11 serve to confirm the Agreement.between the TOWN OF VAIL, Colorado, an incorporated town, and VAIT4 *."SOCIATES, INC., a Colorado Corporation, whereby Vail Associates, Inc. has an equitable interest of $7,225.00 in and to the following des- cribed personal property recently owned by the Town, and to which it has legal title, to wit: A 1970 Ford, Model B-500, equipped with Wayne forty eight (48) passenger school bus body (twenty eight (28) adult passenger • capacity), Serial No. / 0 6 y 9 The Town of Vail agrees, on or before 19%i , to convey legal title tc the above described property to VAIL ASSOCIATES, INC., free girl clear of L.i�( and 41y �_„cumbrances, liens or adverse claims. The Town of Vail ack.owledges receipt of goorl and valu- able consideration for the conditions and promises set forth above. r Dated this / 3i day o`L_1970. ATTEST: THE TOW OF VAI Y=_ % Town Clerk 1 / ayor ATTEST: / VAIL ASSOCIATES INC. By. Y Ass't. Secretary Cla R. Simon, V.P. & Gen. Mgr. / y-�' ,cam ! r ,YH18/T 1 9 E MEMORANDUM March 16, 1970 TO: Vail Board of Trustees FROM: Blake Lynch RE: Financing of Municipal Complex TOTAL COST COMPARISON 8% Non -Profit Corporation Bonds now vs. 7%0 General Obligation Bonds two years from now --for that portion of the Municipal Building complex financed by N.P.C. (excludes Fire Station) I. N.P.C. COST A. Project Cost (not based on Architects estimate) 1. 9,000 sq. feet @ $22.00 2. Architect's fees 3. Site improvements 4. Furnishings 5. Fiscal and Legal fees B. Assume 8% interest $198,000.00 19,800.00 10,000.00 10,000.00 10 ,000.00 *247,800.00 or approximately *250,00.00 1. $29,207.50 per year for 15 years 2. $250,000.00 principal 3. $188,117.50 interest 4. $438,112.50 total 15 year payout II. G.O. COST A. Project Cost (add 10% for construction cost increase, deduct $8,000 in fiscal and legal fees) 1. 9,000 sq. ft. @$24.20 2. Architect's fees 3. Site improvements 4. Furnishings 5. Fiscal and Legal fees B. Assume 7% interest $217,600.00 21,780.00 11,000.00 11,000.00 2 000.00 $263,380.00 or approximately $265,000.00 1. $29,094.35 per year 2. $265,000.00 principal 3. $171,416.25 interest 4. $436,415.25 total 15 year payout III. DIFFERENCE I. B.4 (total 15 year putout) $438,112.50 II. B.4(total 15 year putout) $436,415.25 $ 1,697.25 $1,697.26 additional paid out over 15 year under N.P.C. alternative. C YH /S/r CJ IV. OTHER FACTORS At the end of 15 years we will have the improvement free and clear. Therefore it might be logical to add two years rent to the G.O. Bond cost, but this could theoretically offset by a two year front-end depreciation cost on the N.P.C. approach. For what it's worth, I have computed these figures as follows: A. Rent; two years; 4,000 sq. ft. @ $4.00 per year $32,000.00 B. Less two years depreciation $10,000.00 $200,000.00 over 40 years $22,000.00 V, RECOMMENDATION I recommend we proceed with creating the Non -Profit Corporation and construct the Municipal Building this summer for the following reasons: 1. The total cost is no greater than waiting two years and financing through G.O. Bonds. 2. We will be able to borrow the $84,000.00 necessary to purchase the Vail Associates Shop, and this will free cash for paving more of the main parking lot this summer. 3. Our lease expires in December; the present office is inadequate and we have no place to go. 4. The Post Office Department is interested in building this facility on the site this summer. FBL/mdd page 2 • • OFFICE COPY -- DO NOT REMOVE MINUTES OF THE MEETING VAIL BOARD OF TRUSTEES MARCH 23, 1970 Mayor Dobson called the meeting to order at 7:30 p.m. in the Manor Vail Conference Room. ROLL CALL: Mayor John Dobson Trustee Joseph Langmaid Trustee John Donovan Trustee Thomas Steinberg Trustee Richard Bailey Absent: Trustee Johnny Kaemmer Trustee C. E. Kindel Others present: Blake Lynch, Terry Minger, Larry Robinson I. LOCAL RADIO STATION. Mr. Nat Harris appeared before the Hoard to ask for endorsement of his application for an FM station to be located in Vail. After some discussion, and upon motion duly made by Trustee Steinberg and seconded by Trustee Donovan, the Board unanimously adopted the follow- ing resolution: RESOLVED: That the Board of Trustees for the Town of Vail, Colorado, endorse the application of Nat Harris before the Federal Communications Commission for a license to operate a radio station in the Vail commu- nity to be known as KM.TS-FM, in order to serve the residents of Vail and surrounding area and to pro- vide essential services which could contribute to the health, safety and security of the community through a mass communication media otherwise not available in the Vail vicinity, and to this end the Board of Trustees strongly recommend favorable action on the application referred to in this reso- lution. II. SANDSTONE 70 ANNEXATION (Proposed Ordinance No. 7 of 1970). At the present time Sandstone 70 has petitioned for annexation to the Town and the Water and Sanitation District --they want to annex to the Recreation and Fire Districts as soon as possible. The small parcel at the NW corner of the area will be annexed as soon as the boun- dary dispute between Sandstone and ECDC has been settled. Some discussion ensued regarding the legality of annexing this area to the Town and Water and San District only at this time, with the other two district annexations forth- coming. It was the general consensus that this would not be inappropriate under the existing circumstances. Blake Lynch polled the Trustees as to whether they had read and understood the proposed ordinance; they replied affirma- tively. Per motion of Trustee Steinberg and second by Trustee Donovan, the Board voted to approve this ordinance. VOTE: Approve proposed Ordinance No. 7 of 1970. Trustee Joseph Langmaid NO Trustee Thomas Steinberg YES Trustee Richard Bailey YES Trustee John Donovan YES J Annexation of Sandstone 70 is hereby approved. Dudley Abbot will correspond with condominium association members, advising them of the need to sign additional peti- tions annexing Sandstone 70 to the Recreation and Fire Districts. Mike Halpert of the association will assure that completed petitions are presented to the Board within 60 days. • • III. ANNEXATION OF PTARMIGAN ROAD PARCEL (Proposed Ordinance No. 6 of 1970). This item deferred to a later meeting, during which time proper additional petitions for district annexa- tion will be prepared by Vail Associates. As this petition for annexation to the Town has 100o endorsement, no public hearing Will be necessary. With no further, business to be discussed, the meeting adjourned at 8:55 p.m. i i I I I II II L- 1