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Home My WebLink About2017-02-07 Town Council MinutesK Vail Town Council Meeting Minutes Tuesday, February 7, 2017 6:00 P.M. Vail Town Council Chambers The regular meeting of the Vail Town Council was called to order at approximately 6:00 P.M. by Mayor Chapin. Members present: Dave Chapin, Mayor Jenn Bruno, Mayor Pro Tern Dick Cleveland Kevin Foley Kim Langmaid Jen Mason Members absent Greg Moffet Staff members present: Stan Zemler, Town Manager Matt Mire, Town Attorney Patty McKenny, Town Clerk 1. Citizen Participation Chris Fitzgerald, resident, thanked the town for providing excellent services related to transit and snow plowing and removal. He also suggested some improvements to circulation in the roundabouts and requested a review of the bus stop location at Safeway / City Market area; he noted the congestion between the vehicle traffic and pedestrians and wondered if it could be improved. Michael Cacioppo, business owner, spoke about some follow-up questions to the council's earlier discussion about transportation impact fees. Paul Rondeau, resident, offered some ideas about the Marriott proposal and the configuration on the site. It was suggested he speak directly with the developer. Wendy Erb, resident, offered some comments about "who" would really qualify for the housing opportunities that would exist with the Marriott or Chamonix, does a teacher qualify since they work only part of a year? She also asked why the two largest employers wouldn't also be part of the discussion and housing solutions. 2. Consent Agenda 2.1. Minutes from January 17, 2017 meeting Foley moved to approve the January 17, 2017 minutes; Bruno seconded the motion. There was input about the need to amend the minutes to include a "condition about the deed restriction protection". Foley amended his motion to include this change and Bruno seconded the motion to amend. The motion passed (6-0). 3. Town Manager Report There were no items discussed. Town Council Meeting Minutes of February 7, 2017 Page 1 4. Action Items 4.1. Present an update and schedule on the planning and entitlement process for Chamonix Vail. Presenter(s): George Ruther, Director of Community Development; Kathleen Halloran, Director of Finance and Michael O'Connor, Triumph West Development Action Requested of Council: The development team is requesting that the Vail Town Council provide direction and answers to the following three questions: 1. Does the Vail Town Council support the development schedule as recommended? If not, what changes are needed to gain the Town Council's support? 2. Is the Vail Town Council supportive of continuing to pursue a single phase of construction as contemplated in the development schedule? 3. Is the Vail Town Council supportive of funding the development of Chamonix Vail with cash from town reserves? Background: The development team has created a Chamonix Vail Housing Critical Path Schedule for the completion of Chamonix Vail. The critical path schedule, as recommended, reduces costs, minimizes risk, allows for informed decision making to continue, and ensures the Town Council achieves its adopted goal of growing a thriving and balanced community. As recommended, the critical path schedule continues to push for a late April — early May construction start with the first homes available for occupancy in before the end of the year. This schedule, while aggressive, is appropriate and achievable. Staff Recommendation: The Community Development Department recommends the Vail Town Council affirms their support for the critical path schedule, as recommended by the development team, and in doing so, continues to support a single phase of development that utilizes cash funds from town reserves to pay for the cost of constructing the Chamonix Vail development. Ruther presented Section III of the council memo: Update on Progress to Date: ➢ Unveiling of www.Chamonixvail.com webpage ➢ Launch of the Chamonix Vail reservations and marketing campaign ➢ Hosting of a Chamonix Vail Interested Homebuyer's Meeting ➢ Announcement of six upcoming Homebuyer Education Classes ➢ Final Development Plan approval from the Town of Vail Planning & Environmental Commission ➢ Two review meetings with the Town of Vail Design Review Board ➢ Finalization of interior home floor plans and start of initial mechanical, plumbing, electrical ➢ design ➢ Ongoing communication and sharing of answers to the most frequently asked questions Critical next steps in the planning and entitlement process include: ✓ Final approval of the design review application by the Town of Vail Design Review Board on ✓ February 15th. ✓ Sign off on the construction documents for the development [February 21, 2017] ✓ Authorization to proceed with systems -built shop drawings [February 21, 2017] Town Council Meeting Minutes of February 7, 2017 Page 2 Kathleen Halloran, Finance Director, presented the funding projections for the following project approaches, 1) Single Phase Construction, 2) Phased Approach: Systems Built (Modular), and 3) Phased Approach: Stick Built. There were pros and cons identified with each approach, see below for projections: Single Phase Beginning Fund Balance Annual Activity per 5-Year Capital Plan Remaining Development cost estimated at $17.5M Syste+ns Built Expenditures - No Phasing Systems Built - Sales of Units (Revenue) 2017 2018 2019 15,928,727 2,267,60 21,144,178 636,555 4,678,496 (9,496,899) (15,OG0.GG01 (2,544.000) e02,000 '8.742,000 Estimated Fund Balance 2,267,682 21,144,179 11,647,260 I - - _ Phased Approach: Systems Built (Modular) Beginning Fund Balance 15,828,727 8,762,682 10,320.176 Annual Activity per 5-Year Capital Plan 636,955 4,678,,496 (9,496,899) 'Adds $1.4101 it cost ($18.9M) Systems Built Expenditures - Phased ig,c.DS.DDDj �; =D,355.OD{le Systems Built - Sales of knits (Revenue) Estimated Fund Balance Phased Approach: cR'B Beginning Fund ? Annual Activity 3- 'Adds $IAM in to p ilt ($19.7M) a Stick Butt - EYpenres Stick Built - Sal4is.ofUnits I,Rey; �y13 •�tlo Estimated Funs! Balance 80-1000 7.274,000 9AH,000 8,762,682 10,320.178 10291.280 15,828,727 7,600,682 9,520,178 636,955 4,678,499 (9,496,899) (8,585,000) (10.835,NO) 8,078,ODO f+.468,0DD 7,600,682 9,520,178 9AS1.280 Ruther then presented info about the "lottery & current "buyer information and shared the following: • the home buyer preferences questionnaire ■ steps taken after winning the lottery ■ descriptors about the interested buyers group (145 potential buyers) ■ the project schedule ■ action request from the council Michael O'Conner, Triumph Development, presented the project schedule and Mike Cuthbertson, RA Nelson, explained the status of the construction planning and noted their recommendation to bring on subcontractors to begin work as soon as possible. This was suggested in light of the supply and demand on the construction industry and the costs of construction. It was also noted the PEC approved the application and it is now being considered by DRB. Town Council Meeting Minutes of February 7, 2017 Page 3 . I a Staff also noted they have engaged a third party to review the costs estimates, help identify risks, and suggestions for keeping costs in line. There were comments about using local contractors, and the construction method of the stick built vs the prebuilt options. Langmaid inquired about using the energy star appliances and Cleveland asked if the lottery deadlines could be moved earlier so there is a clear understanding of how many and who the buyers will be. He requested staff consider creating some sort of incentive to get completed applications. Chapin called for public input at this time; there were no comments. Cleveland moved to proceed with spending $50 K for the pre -drawings for the manufactured housing and directed RA Nelson to move forward lining up critical subcontractors in an effort to remain aligned with the proposed schedule. Foley seconded the motion and it passed (6-0). There being no further business to come before the council, Foley moved to adjourn the meeting and Bruno seconded the motion which passed (6-0) and the meeting adjourned at 7:30 p.m. Attest: �� y P cKenny, Clerk 4 Respectfully ub ted ave Chapin Mayor Town Council Meeting Minutes of February 7, 2017 Page 4