HomeMy WebLinkAbout2009-10-27 Town Council MinutesVail Town Council Meeting Minutes
Tuesday, October 27, 2009
2:00 P.M.
Vail Town Council Chambers
Members present: Dick Cleveland, Mayor
Mark Gordon
Kevin Foley
Andy Daly
Farrow Hitt
Kim Newbury
Not present: Margaret Rogers
Staff Members: Stan Zemler, Town Manager
Matt Mire, Town Attorney
Pam Brandmeyer, Assistant Town Manager
The Vail Town Council reviewed the proposed plans for redevelopment of Timber
Ridge during a joint meeting on Oct. 27. During the pre -application conference,
representatives from Vail Timber Ridge, LLC presented initial architectural
renderings showing a five -story building extending 800 feet along the five -acre
development site, which represents half the property. The conceptual
development plan includes the following components: 356 units, ranging from
390 sq. ft. for a studio up to a 960 sq. ft. for a two -bedroom, two -bath unit; five -
level parking garage, representing 1.7 parking spaces per unit; washer and dryer
in each unit; and fitness center and clubhouse. Members of the Vail Town
Council, Planning and Environmental Commission, Design Review Board, Vail
Local Housing Authority and the Timber Ridge Affordable Housing Corporation
attended the meeting.
The presentation followed approval of a pre -development agreement by the Vail
Town council that provides for the following:
• A long-term ground lease of 60 years with renewals where theTown of Vail
retains ownership of the parcel.
• A one-time up front payment of $11 million to the Town of Vail.
• A commitment to submit a complete development application to the Town
Vail by April 1, 2010.
• The development shall include 359 Employee Housing Units (EHUs),
capable of housing 570 employees.
• The western half of the site will remain operational during the
redevelopment.
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• The Town of Vail will refund the town's construction use tax and waive all
other building and inspection fees.
• The Town of Vail will share in cost of rock fall mitigation if any is required.
• The Town of Vail agrees to reimburse the potential developer a maximum
amount of $1 million if the Town of Vail fails to deliver the property.
• Both the Town of Vail and Vail Timber Ridge, LLC agree to conduct at least
one pre -application conference with the Town Council, the Design Review
Board (DRB) and the Planning and Environmental Commission (PEC) prior to
submitting the initial development application. None of the above groups will
be bound by discussions in the predevelopment conference.
Next steps include additional meetings with the Colorado Department of
Transportation, utility representatives and the fire department prior to submittal of
the development application. Community Development Director George Ruther
indicated the development review process will take an estimated six months.
Constructed in 1981, Timber Ridge is Vail's largest employee housing complex,
consisting of 198 rental units on just over ten acres. The town acquired the
property in 2003 for $20 million to preserve the property's deed restricted
employee housing designation.
The conceptual development presentation from Oct. 27 is available on the town's
web site at vailgov.com.
The meeting was adjourned at approximately 4:15 p.m
Dick Cleveland, Mayor
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Lorelei Donaldson, Town Clerk
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