TC Packet 10-25-2016pc TOWN OF AVON MEETINGS FOR TUESDAY, OCTOBER 25, 2016
AVON LIQUOR AUTHORITY MEETING BEGINS AT 5:00 PM
REGULAR MEETING BEGINS AT 5:05 PM
AVON URBAN RENEWAL AUTHORITY MEETING BEGINS AT 6:05 PM
AVON TOWN HALL, ONE LAKE STREET
AVON LIQUOR LICENSING AUTHORITY MEETING BEGINS AT 5:00 PM (SEE SEPARATE AGENDA PAGE 3)
REGULAR MEETING BEGINS AT 5:05 PM
AVON URBAN RENEWAL AUTHORITY MEETING BEGINS AT 6:05 PM (SEE SEPARATE AGENDA PAGE 4)
1. CALL TO ORDER & ROLL CALL
2. APPROVAL OF AGENDA
3. PUBLIC COMMENT – COMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA
4. PROCLAMATION – EAGLE COUNTY GIVES DAY (MICHELLE MALONEY)
5. ACTION ITEMS
5.1. MOTION TO CONTINUE THE PUBLIC HEARING ON SECOND READING OF ORDINANCE 16-20, REPEALING THE
2009 RECREATIONAL TRAILS MASTER PLAN, AND APPROVING THE 2016 RECREATIONAL TRAILS MASTER PLAN TO
JANUARY 10, 2017 (PLANNING DIRECTOR MATT PIELSTICKER)
5.2. PUBLIC HEARING FOR THE ADOPTION OF THE 2016 FINAL REVISED BUDGETS, 2017 OPERATING BUDGET, 2017
CAPITAL PROJECTS FUND BUDGET & LONG-RANGE CAPITAL PROGRAM
5.2.1. RESOLUTION NO. 16-27, RESOLUTION TO AMEND THE 2016 TOWN OF AVON OPERATING FUNDS
BUDGETS (BUDGET ANALYST KELLY HUITT)
5.2.2. RESOLUTION NO. 16-28, RESOLUTION TO AMEND THE 2016 TOWN OF AVON CAPITAL PROJECTS FUND
BUDGET (BUDGET ANALYST KELLY HUITT)
5.2.3. RESOLUTION NO. 16-29, RESOLUTION TO ADOPT THE 2017 TOWN OF AVON OPERATING FUNDS
BUDGETS (BUDGET ANALYST KELLY HUITT)
5.2.4. RESOLUTION NO. 16-30, RESOLUTION TO ADOPT THE TOWN OF AVON LONG-RANGE CAPITAL
PROGRAM AND SIMULTANEOUSLY ADOPT THE 2017 CAPITAL PROJECTS FUND BUDGET
(BUDGET ANALYST KELLY HUITT)
5.3. MOTION TO CONTINUE THE REGULAR MEETING FOR THE URBAN RENEWAL AUTHORITY MEETING’S BUDGET
ADOPTION (MAYOR JENNIE FANCHER)
5.4. CALL TO ORDER AND ROLL CALL
5.5. RESOLUTION 16-32, APPROVING THE EXECUTION AND DELIVERY BY BUFFALO RIDGE AFFORDABLE HOUSING
CORPORATION OF A MORTGAGE LOAN AND AUTHORIZING CERTAIN AMENDMENTS AND INCIDENTAL ACTION
THERETO (EXECUTIVE DIRECTOR GERRY FLYNN)
5.6. ACTION ON VOTE TO TERMINATE BENCHMARK PROTECTIVE COVENANT, VOTE FOR FIVE MEMBERS OF THE
LAND OWNERS COMMITTEE, AND AUTHORIZATION OF TOWN’S REPRESENTATIVE TO VOTE IN FAVOR OF
TERMINATING BENCHMARK PROTECTIVE COVENANTS (TOWN ATTORNEY ERIC HEIL)
5.7. FIRST READING OF ORDINANCE 16-19, TO REZONE LOT 4, MOUNTAIN VISTA RESORT SUBDIVISION FROM PUD
TO PUBLIC FACILITIES (PLANNING DIRECTOR MATT PIELSTICKER)
_______________________________________________________________________________
MEETING AGENDAS & PACKETS ARE FOUND AT: HTTP://WWW.AVON.ORG
AGENDAS ARE POSTED AT AVON TOWN HALL, RECREATION CENTER, & AVON PUBLIC LIBRARY
IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING,
CALL TOWN CLERK DEBBIE HOPPE AT 970-748-4001 OR EMAIL DHOPPE@AVON.ORG WITH ANY SPECIAL REQUESTS.
1
TOWN OF AVON MEETINGS FOR TUESDAY, OCTOBER 25, 2016
AVON LIQUOR AUTHORITY MEETING BEGINS AT 5:00 PM
REGULAR MEETING BEGINS AT 5:05 PM
AVON URBAN RENEWAL AUTHORITY MEETING BEGINS AT 6:05 PM
AVON TOWN HALL, ONE LAKE STREET
6. WORK SESSION
6.1. REVIEW OF 2016/17 WINTER PARKING MANAGEMENT PLAN (PLANNING DIRECTOR MATT PIELSTICKER)
6.2. REVIEW OF SUMMER 2016 FOOD TRUCK AND VENDOR PROGRAM
(EXECUTIVE ASSISTANT TO THE TOWN MANAGER PRESTON NEILL)
7. CONSENT AGENDA
7.1. APPROVAL OF AN INTERGOVERNMENTAL AGREEMENT WITH THE VALLEY HOME STORE FOR EMPLOYEE
HOUSING MANAGEMENT SERVICES (ASSISTANT TOWN MANAGER SCOTT WRIGHT)
7.2. APPROVAL OF AUTHORIZATION FOR THE TOWN MANAGER TO EXECUTE AN INTERGOVERNMENTAL AGREEMENT
WITH THE COLORADO DEPARTMENT OF TRANSPORTATION FOR A FIVE YEAR LEASE TO STORE ONE OR MORE
BUSTANG BUSES IN THE AVON REGIONAL TRANSIT FACILITY (TRANSIT DIRECTOR JANE BURDEN)
7.3. APPROVAL OF THE OCTOBER 11, 2016 MINUTES (TOWN CLERK DEBBIE HOPPE)
8. WRITTEN REPORTS
8.1. MONTHLY FINANCIALS REPORT (BUDGET ANALYST KELLY HUITT)
9. COMMITTEE MEETING UPDATES: COUNCILORS AND MAYOR
10. MAYOR & COUNCIL COMMENTS
11. TOWN MANAGER UPDATE
12. ADJOURNMENT
_______________________________________________________________________________
MEETING AGENDAS & PACKETS ARE FOUND AT: HTTP://WWW.AVON.ORG
AGENDAS ARE POSTED AT AVON TOWN HALL, RECREATION CENTER, & AVON PUBLIC LIBRARY
IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING,
CALL TOWN CLERK DEBBIE HOPPE AT 970-748-4001 OR EMAIL DHOPPE@AVON.ORG WITH ANY SPECIAL REQUESTS.
2
TOWN OF AVON MEETINGS FOR TUESDAY, OCTOBER 25, 2016
AVON LIQUOR AUTHORITY MEETING BEGINS AT 5:00 PM
AVON TOWN HALL, ONE LAKE STREET
1. CALL TO ORDER AND ROLL CALL
2. APPROVAL OF AGENDA
3. PUBLIC COMMENT
4. RENEWAL OF LIQUOR LICENSES
4.1. APPLICANT: BLACKSTAR, LLC D/B/A FOOD! BY MARC
LOCATION: 137 BENCHMARK ROAD 4W
TYPE: HOTEL AND RESTAURANT
MANAGER: MARC ROUSE
4.2. APPLICANT: AVON PROPERTIES LEASING, LLC D/B/A VILLAGE WAREHOUSE WINES
LOCATION: 101 FAWCETT ROAD
TYPE: RETAIL LIQUOR STORE
MANAGER: PETER CUCCIA
5. MINUTES FROM OCTOBER 11, 2016
6. ADJOURNMENT
_______________________________________________________________________________
MEETING AGENDAS & PACKETS ARE FOUND AT: HTTP://WWW.AVON.ORG
AGENDAS ARE POSTED AT AVON TOWN HALL, RECREATION CENTER, & AVON PUBLIC LIBRARY
IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING,
CALL TOWN CLERK DEBBIE HOPPE AT 970-748-4001 OR EMAIL DHOPPE@AVON.ORG WITH ANY SPECIAL REQUESTS.
3
TOWN OF AVON MEETINGS FOR TUESDAY, OCTOBER 25, 2016
AVON URBAN RENEWAL AUTHORITY MEETING BEGINS AT 6:05 PM
AVON TOWN HALL, ONE LAKE STREET
1. CALL TO ORDER & ROLL CALL
2. APPROVAL OF AGENDA
3. PUBLIC COMMENT – COMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA
4. ACTION ITEMS
4.1. PUBLIC HEARING RESOLUTION 16-02, AMENDING THE 2016 AVON URBAN RENEWAL AUTHORITY BUDGET
(BUDGET ANALYST KELLY HUITT)
4.2. PUBLIC HEARING RESOLUTION 16-03, ADOPTING THE 2017 AVON URBAN RENEWAL AUTHORITY BUDGET
(BUDGET ANALYST KELLY HUITT)
4.3. APPROVAL OF SEPTEMBER 27, 2016 URA MEETING MINUTES (AUTHORITY CLERK DEBBIE HOPPE)
5. ADJOURNMENT
_______________________________________________________________________________
MEETING AGENDAS & PACKETS ARE FOUND AT: HTTP://WWW.AVON.ORG
AGENDAS ARE POSTED AT AVON TOWN HALL, RECREATION CENTER, & AVON PUBLIC LIBRARY
IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING,
CALL TOWN CLERK DEBBIE HOPPE AT 970-748-4001 OR EMAIL DHOPPE@AVON.ORG WITH ANY SPECIAL REQUESTS.
4
TOWN OF AVON, COLORADO
AVON LIQUOR LICENSING AUTHORITY MEETING MINUTES FOR TUESDAY, OCTOBER 11, 2016
AVON TOWN HALL, ONE LAKE STREET
LA 10-11-2016 Minutes.docx Page 1
1. CALL TO ORDER AND ROLL CALL
Chairman Fancher called the meeting to order at 5:00 p.m. A roll call was taken and Board members
present were Jake Wolf, Matt Gennett, Buz Reynolds and Megan Burch. Sarah Smith Hymes and Scott
Prince were absent. Also present were Town Manager Virginia Egger, Town Attorney Eric Heil, Assistant
Town Manager Scott Wright, Recretion Director John Curuchet, Planning Director Matt Pielsticker, Public
Works Director Gary Padilla, Transit Director Jane Burden, Town Engineer Justin Hildreth, Police Chief
Greg Daly, Executive Assistant to the Town Manager Preston Neill and Town Clerk Debbie Hoppe.
2. APPROVAL OF AGENDA
There were no changes to the agenda.
3. PUBLIC COMMENT – COMMENTS ARE WELCOME ON TOPICS NOT ON THE AGENDA
No public comments made.
4. RENEWAL OF LIQUOR LICENSES
Start time: 00:01:29
4.1. Applicant: Pazzo’s West, Inc. d/b/a Pazzo’s Pizzeria
Location: 82 E. Beaver Creek Blvd.
Type: Hotel and Restaurant
Manager: Mark Colwell
Board member Gennett moved to approve the renewal application for Pazzo’s West, Inc. d/b/a Pazzo’s
Pizzeria; Vice Chairman Wolf seconded the motion and it passed unanimously by those present.
Board member Smith Hymes and Board member Prince were absent.
4.2. Applicant: Fork & Knife, Inc. d/b/a Blue Plate
Location: 48 E. Beaver Creek Blvd.
Type: Hotel and Restaurant License
Manager: Adam Roustom
Board member Gennett moved to approve the renewal application for Fork & Knife, Inc. d/b/a Blue Plate;
Board member Reynolds seconded the motion and it passed unanimously by those present. Board
member Smith Hymes and Board member Prince were absent.
4.3. Applicant: Nova Entertainment, LLC d/b/a Loaded Joe’s
Location: 82 E. Beaver Creek Blvd. #14
Type: Tavern License
Manager: Kent Beidel
Vice Chairman Wolf recused himself due to a conflict.
Board member Reynolds moved to approve the renewal application for Nova Entertainment, LLC d/b/a
Loaded Joe’s; Board member Gennett seconded the motion and it passed unanimously by those
present. Board member Smith Hymes and Board member Prince were absent. Vice Chairman abstained
from the vote.
TOWN OF AVON, COLORADO
AVON LIQUOR LICENSING AUTHORITY MEETING MINUTES FOR TUESDAY, OCTOBER 11, 2016
AVON TOWN HALL, ONE LAKE STREET
LA 10-11-2016 Minutes.docx Page 2
4.4. Applicant: WVO Licensing, LLC d/b/a Wyndham Beaver Creek Resort
Location: 75 Benchmark Road
Type: Resort Complex
Manager: Patricia Janssens
Board member Gennett moved to approve the renewal application for WVO Licensing, LLC d/b/a
Wyndham Resort at Avon; Vice Chairman Wolf seconded the motion and it passed unanimously by those
present. Board member Smith Hymes and Board member Prince were absent.
5. REPORT OF CHANGE - TRADE NAME
5.1. Applicant: WVO Licensing, LLC d/b/a Wyndham Beaver Creek Resort
New Trade Name: Wyndham Resort at Avon
Location: 75 Benchmark Road
Type: Resort Complex
Manager: Patricia Janssens
Board member Gennett moved to approve the report of changes - trade name for WVO Licensing, LLC
d/b/a Wyndham Beaver Creek Resort to Wyndham Resort at Avon; Board member Reynolds seconded
the motion and it passed unanimously by those present. Board member Smith Hymes and Board
member Prince were absent.
6. MINUTES FROM SEPTEMBER 27, 2016
Board member Reynolds moved to approve the minutes from September 27,2016 with changes; Board
member Gennett seconded the motion and it passed unanimously by those present. Board member
Smith Hymes and Board member Prince were absent.
7. ADJOURNMENT
There being no further business to come before the Board, the meeting adjourned at 5:12 p.m.
RESPECTFULLY SUBMITTED:
____________________________________
Debbie Hoppe, Town Clerk
APPROVED:
Jennie Fancher ______________________________________
Jake Wolf ______________________________________
Matt Gennett ______________________________________
Megan Burch ______________________________________
Albert “Buz” Reynolds ______________________________________
Scott Prince ______________________________________
Sarah Smith Hymes ______________________________________
TOWN COUNCIL REPORT
To: Honorable Mayor and Town Council
From: Preston Neill, Executive Assistant to the Town Manager
Date: October 25, 2016
Topic: Proclamation Honoring Eagle County Gives
Michelle Maloney with the Vail Valley Charitable Fund will present to the Town Council information about
Eagle County Gives.
The Town Council is asked to consider adopting the attached Proclamation that supports Colorado Gives
Day on Tuesday, December 6, 2016. According to its supporters, this is a statewide day of philanthropy
where citizens are encouraged to “Give Where You Live” by logging onto www.coloradogives.org and
investing in local charitable organizations. The seventh annual Colorado Gives Day takes place midnight to
midnight on Tuesday, December 6, 2016.
Colorado Gives Day is a project of an online resource created by Community First Foundation that profiles
Colorado non-profits and encourages charitable giving within our state. The Colorado Gives
website, www.coloradogives.org, provides comprehensive, objective, and up-to-date information about
hundreds of Colorado non-profit organizations, along with an on-line donation system to support those
organizations. Last year, Colorado Gives Day raised $28.5 million for Colorado charities in one 24-hour
period, and $822,580.61 locally.
PROCLAMATION
Town of Avon, Colorado
COLORADO GIVES DAY
WHEREAS, charitable giving in the Town of Avon, Colorado is critical to
providing support that local nonprofit organizations need to make our community a
desirable place to live; and
WHEREAS, research shows an increase in online giving both locally and
nationally, and many believe it is the future of philanthropy; and
WHEREAS, Community First Foundation and FirstBank have partnered in an
effort to increase charitable giving in our community through the online giving
initiative Colorado Gives Day; and
WHEREAS, Colorado Gives Day in 2015 raised $28.5 million in a single 24-hour
period via online donations, $822,580.61 to Eagle County nonprofits, at
coloradogives.org, a website allowing donors to direct their contributions to one or
more of the forty-one (41) local, Eagle County, charities featured on the site, making
it an ideal resource for facilitating charitable giving to our locally-based nonprofit
organizations; and
WHEREAS, Colorado Gives Day is December 6th this year, and all citizens are
encouraged to participate because all donations, large or small, can make a
difference to nonprofits in need.
NOW, THEREFORE, LET IT BE KNOWN:
The Town of Avon, Colorado, hereby proclaims Tuesday, December 6, 2016 as
Colorado Gives Day in our community.
Mayor Jennie Fancher
On behalf of the Town of Avon, Colorado
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Matt Pielsticker, AICP, Planning Director
Meeting Date: October 25, 2016
Agenda Topic: MOTION TO CONTINUE PUBLIC HEARING and Second Reading of Ordinance
2016-20, An Ordinance Repealing the 2009 Recreational Trails Master Plan,
and Approving the 2016 Recreational Trails Master Plan
Council Action
Action on Second Reading of Ordinance 2016-20, An Ordinance Repealing the 2009 Recreational Trails
Master Plan, and Approving the 2016 Recreational Trails Master Plan.
Request for Continuance
Councilor Matt Gennett has requested a continuance of the public hearing to adopt the 2016
Recreational Trails Master Plan. The request is being made due to the anticipated absence of
Councilor Gennett at next Tuesday’s meeting due to a scheduling conflict. Should the request for
continuance be approved, the public hearing and Second Reading of the Ordinance will be
recommended for notice on the January 10, 2017, agenda.
Should the Council choose to take final action on October 25, 2016, the Ordinance includes from First
Reading approval of the “M” trails, Trail P8, with removal of the Pump Track in Harry A. Nottingham
Park and all Metcalf Drainage trails. The Ordinance, along with all written public comments can be
found at http://avon.org/Archive.aspx?AMID=35.
Recommended Motion
“I move to Continue the public hearing and second and final reading of Ordinance 16-20, repealing the
2009 Recreational Trails Master Plan, approving the 2016 Recreational Trails Master Plan, with deletions
listed in Section 2, to the January 10, 2017 Town Council Meeting.”
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Kelly Huitt, Budget Analyst
Date: October 25, 2015
Re: Adoption of Proposed 2017 and Final Revised 2016 Operating Budgets
Action Before Council
Adoption of the Proposed 2017 and Final Revised 2016 Town of Avon operating budgets.
Proposed Motion
“I move to approve Resolution #16-27 and #16-29 to adopt the 2017 and amend the 2016 annual operating budgets.”
Summary
The Town’s final revised operating budgets for 2016 and proposed 2017 are hereby submitted
for adoption by the Avon Town Council.
According to State Statute, because the Town levies a property tax, the budget must be adopted by December 15, and filed with the Division of Local Governments no later than January 31. This budget meets this and all other legal requirements for submission.
The Town Manager and staff presented the recommended budget at the Council work session
held on September 27th. The following changes have been made to the operating budget
subsequent to the September work session:
2017 Changes
General Fund - ($17,762) total changes
• $28,137 reduction to anticipated 2017 property tax revenue
• $8,963 increase to anticipated Highway User Tax Fund revenue
• $25,000 for community survey moved from 2017 to 2018
• $2,460 for the addition of smartphones for the Police Department
• $3,200 for PubWorks annual software maintenance
• $15,923 for the addition of a Facilities Superintendent and the offsetting removal of
one Building Tech II
Water Fund - $41,200 total changes
• $41,200 for moving the Public Safety Facility tap fee contribution from 2017 to 2016
2016 Changes
General Fund - ($54,182) total changes
• $2,700 for Survey Monkey licenses
• $4,000 for additional HR advertising
• $8,768 for increased Telephone costs due to an overlap in coverage during changeover
• $3,200 for PubWorks annual software maintenance
• $1,894 for the addition of a Facilities Superintendent and the offsetting removal of one
Building Tech II for the period of November-December 2016
• $36,608 for various changes to employee insurance elections and miscellaneous
personnel corrections
Water Fund – ($34,700) total changes
• $11,500 for a flood inundation study
• $23,200 for the Water Fund contribution to the Public Safety Facility tap fee
Public Hearing. As required by Town Charter, on October 25, 2016, a public hearing will be
held for members of the public to comment on the proposed 2017 budget.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented.
Exhibits and Attachments: 2017 Financial Overview, Total - All Funds
2017 Financial Overview, Total by Fund
Resolution No. 16-27
Resolution No. 16-29
Section II, Page 1
Original or Final
Prev. Amend.Revised Adopted Proposed
Actual Budget Budget Budget Budget
2015 2016 2016 2017 2018
REVENUES
Taxes 15,277,128$ 15,718,575$ 15,990,805 15,486,653$ 16,594,974$
Licenses and Permits 335,741 174,000 206,100 206,100 206,100
Intergovernmental 1,061,345 3,472,837 3,581,496 1,728,926 1,050,926
Charges for Services 3,858,292 3,798,675 3,511,875 3,882,138 3,832,546
Fines and Forfeitures 129,356 116,900 92,445 92,445 92,445
Investment Earnings 52,651 45,025 45,176 42,993 52,362
Other Revenue 623,345 603,594 584,850 575,860 575,960
Total Operating Revenues 21,337,858 23,929,606 24,012,747 22,015,115 22,405,313
Other Sources
Sales of Fixed Assets 31,025 15,000 26,000 15,000 15,000
Capital Lease Proceeds - - - 185,000 -
Bond and Loan Proceeds 3,800,000 9,102,205 6,602,205 3,000,000 -
Transfers-In From Other Funds 5,788,440 3,700,543 4,472,611 6,011,696 3,592,471
Total Other Sources 9,619,465 12,817,748 11,100,816 9,211,696 3,607,471
TOTAL REVENUES 30,957,323 36,747,354 35,113,563 31,226,811 26,012,784
EXPENDITURES
General Government and Finance 2,916,095 3,205,336 3,187,869 3,359,093 3,590,900
Community Development 1,348,166 1,495,777 1,380,476 935,279 971,096
Public Safety 3,007,164 3,253,667 3,204,355 3,370,680 3,545,647
Public Works, Engineering and Utilities 4,080,272 5,420,784 5,260,944 4,600,883 4,479,034
Transportation and Fleet Maintenance 3,021,627 3,901,690 3,199,745 3,600,905 3,203,670
Recreation 1,147,149 1,288,912 1,294,689 1,434,122 1,475,190
Total Operating Expenditures 15,520,473 18,566,166 17,528,078 17,300,962 17,265,537
Debt Service 1,890,093 2,062,269 2,069,599 2,106,308 2,034,287
Capital Improvements and Equipment Replacement 4,523,849 13,914,592 13,408,039 7,769,191 2,360,523
Contingency - 99,000 99,000 250,000 250,000
Other Uses
Loan to ERFPD - - - - -
Transfers-Out To Other Funds 5,788,440 3,700,543 4,472,611 6,011,696 3,592,471
TOTAL EXPENDITURES 27,722,855 38,342,570 37,577,327 33,438,157 25,502,818
NET SOURCE (USE) OF FUNDS 3,234,468 (1,595,216) (2,463,764) (2,211,346) 509,966
FUND BALANCES, Beginning of Year 14,368,585 17,505,603 17,603,053 15,139,289 12,927,943
FUND BALANCES, End of Year 17,603,053$ 15,910,387$ 15,139,289$ 12,927,943$ 13,437,909$
TOTAL - ALL FUNDS
TOWN OF AVON
Financial Overview
Section II, Page 2
Town Urban Community Affordable
General Center Renewal Enhancement Water Housing
Fund West Fund Fund Fund Fund
REVENUE
Taxes 12,245,424$ -$ 1,000,832$ -$ -$ -$
Licenses and Permits 206,100 - - - - -
Intergovernmental 1,010,926 - - - - -
Charges for Services 1,504,782 - - - 211,200 -
Fines and Forfeitures 92,445 - - - - -
Investment Earnings 25,000 - 4,712 - - 721
Other Revenue 314,900 - - 84,000 - 3,020
Total Operating Revenues 15,399,577 - 1,005,544 84,000 211,200 3,741
Other Sources
Sales of Fixed Assets - - - - - -
Capital Lease Proceeds - - - - - -
Bond and Loan Proceeds - - 3,000,000 - - -
Transfers-In From Other Funds 226,327 - - - -
TOTAL REVENUES 15,625,904 - 4,005,544 84,000 211,200 3,741
EXPENDITURES
General Government, Housing and Finance 3,330,643$ - 3,450 - - 25,000
Community Development 935,279 - - - - -
Police 3,370,680 - - - - -
Public Works, Engineering and Utilities 4,442,906 - - - 157,977 -
Transportation and Fleet Maintenance - - - - -
Recreation and Culture 1,434,122 - - - -
Total Operating Expenditures 13,513,630 - 3,450 - 157,977 25,000
Debt Service - - 957,069 - - -
Capital Expenditures - - - - - -
Contingency 250,000
Other Uses
Transfers-Out To Other Funds 1,702,000 - 2,900,000 158,000 - -
TOTAL EXPENDITURES 15,465,630 - 3,860,519 158,000 157,977 25,000
NET SOURCE (USE) OF FUNDS 160,274 - 145,025 (74,000) 53,223 (21,259)
FUND BALANCES, Beginning of Year 4,576,694 - 1,162,585 74,469 38,173 506,220
FUND BALANCES, End of Year 4,736,968$ -$ 1,307,610$ 469$ 91,396$ 484,961$
Special Revenue Funds
TOTAL - BY FUND
TOWN OF AVON
Financial Overview
Section II, Page 3
Debt Service Internal
Fund Service
Facilities Capital Percent
Reserve Bond Projects Transit Fleet Equipment of
Fund Redemption Fund Fund Maintenance Replacement Total Total
-$ -$ 2,200,000$ 40,397$ -$ -$ 15,486,653$ 70.35%
- - - - - - 206,100 0.94%
- - 390,000 328,000 - 1,728,926 7.85%
- - - 239,930 1,279,426 646,800 3,882,138 17.63%
- - - - - - 92,445 0.42%
- 2,100 10,460 - - - 42,993 0.20%
- - 80,000 93,940 - - 575,860 2.62%
- 2,100 2,680,460 702,267 1,279,426 646,800 22,015,115 100.00%
- - - - - 15,000 15,000
- - - - - 185,000 185,000
- - - - - - 3,000,000
- 1,025,369 3,178,000 1,182,000 400,000 - 6,011,696
- 1,027,469 5,858,460 1,884,267 1,679,426 846,800 31,226,811
- - - - - - 3,359,093 19.42%
- - - - - - 935,279 5.41%
- - - - - - 3,370,680 19.48%
- - - - - - 4,600,883 26.59%
- - - 1,948,359 1,652,546 - 3,600,905 20.81%
- - - - - - 1,434,122 8.29%
- - - 1,948,359 1,652,546 - 17,300,962 100.00%
- 1,027,469 121,770 - - - 2,106,308
- 7,381,991 - - 387,200 7,769,191
250,000
- - 1,251,696 - - - 6,011,696
- 1,027,469 8,755,457 1,948,359 1,652,546 387,200 33,438,157
- - (2,896,997) (64,092) 26,880 459,600 (2,211,346)
- 530,467 4,840,168 630,441 139,750 2,640,322 15,139,289
-$ 530,467$ 1,943,171$ 566,349$ 166,630$ 3,099,922$ 12,927,943$
Enterprise Funds
TOTAL - BY FUND
TOWN OF AVON
Financial Overview
Resolution No. 16-27 October 25, 2016
Page 1 of 3
TOWN OF AVON, COLORADO RESOLUTION NO. 16-27
SERIES OF 2016 A RESOLUTION TO AMEND THE 2016 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY
FUND AND AMENDING THE 2016 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2016 AND ENDING ON THE LAST DAY OF DECEMBER, 2016
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2016 budget; and
WHEREAS, the Town Council reviewed the revised estimated revenues and
expenditures for all operating funds for 2016; and
WHEREAS, the Town Council finds it necessary to amend the 2016 budget to more accurately reflect the revenues and expenditures for 2016; and
WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues so that the budget remains in balance as required by
law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the following funds are revised as follows for 2016:
Original or
Previously
Amended
2016 Budget
Current
Proposed
Amended
2016 Budget General Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 5,659,925
15,191,391
15,563,185
$ 5,659,925
15,399,513
16,482,744
Ending Fund Balance $ 5,288,131 $ 4,576,694
Town Center West Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 88,584
300,000
298,281
$ 124,597
145,874
270,471
Ending Fund Balance $ 90,303 $ 0
Resolution No. 16-27 October 25, 2016
Page 2 of 3
Original or
Previously
Amended
2016 Budget
Current
Proposed
Amended
2016 Budget Community Enhancement Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 96,996
84,000
100,000
$ 90,469
84,000
100,000
Ending Fund Balance
$ 80,996 $ 74,469
Water Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 1,016,159
190,000
1,128,060
$ 1,016,159
190,000
1,167,986
Ending Fund Balance
$ 78,099 $ 38,173
Affordable Housing Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 517,335
3,885
25,000
$ 517,335
13,885
25,000
Ending Fund Balance $ 496,220 $ 506,220
Debt Service Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 510,375
1,126,089
1,126,089
$ 529,117
1,127,439
1,126,089 Ending Fund Balance $ 510,375
$ 530,467
Transit Fund
Beginning Fund Balance
Revenues and Other Sources Expenditures and Other Uses
$ 690,694
2,039,014 2,083,745
$ 689,894
1,566,513 1,625,966
Ending Fund Balance
$ 645,963 $ 630,441
Fleet Maintenance Fund
Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses
$ 169,474 1,787,632
1,817,945
$ 169,474 1,544,055
1,573,779
Ending Fund Balance
$ 139,161 $ 139,750
Equipment Replacement Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 1,699,303
748,565
280,669
$ 1,699,303
1,190,358
249,339
Ending Fund Balance
$ 2,167,199 $ 2,640,322
Resolution No. 16-27 October 25, 2016
Page 3 of 3
Section 2. That the budget, as submitted, amended, and hereinabove summarized
by fund, hereby is approved and adopted as the budget of the Town of Avon for the year
stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the
Mayor and made part of the public record of the Town.
ADOPTED this 25th day of October, 2016.
AVON TOWN COUNCIL
By:___________________________ Attest:________________________
Jennie Fancher, Mayor Debbie Hoppe, Town Clerk
Resolution No. 16-29 October 25, 2016
Page 1 of 3
TOWN OF AVON
RESOLUTION NO. 16-29
SERIES OF 2016
A RESOLUTION TO ADOPT THE 2017 TOWN OF AVON BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR
EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF AVON, COLORADO,
FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2017
AND ENDING ON THE LAST DAY OF DECEMBER, 2017
WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager
to prepare and submit a proposed budget to said governing body for its consideration; and
WHEREAS, upon due and proper notice, published and posted in accordance with the
law, said proposed budget was open for inspection by the public at a designated place. A public
hearing was held on October 25, 2016, and interested taxpayers were given the opportunity to file
or register any comment to said proposed budget; and
WHEREAS, whatever increases may have been made in the expenditures, like increases
were added to the revenues so that the budget remains in balance, as required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for each fund are as follows for
2017:
2017
Proposed
Budget
General Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 4,576,694
15,625,904
15,465,630
Ending Fund Balance
$ 4,736,968
Community Enhancement Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 74,469
84,000
158,000
Ending Fund Balance
$ 469
Resolution No. 16-29 October 25, 2016
Page 2 of 3
Water Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
2017
Proposed
Budget
$ 38,173
211,200
157,977
Ending Fund Balance
$ 91,396
Affordable Housing Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 506,220
3,741
25,000
Ending Fund Balance
$ 484,961
Debt Service Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 530,467
1,027,469
1,027,469
Ending Fund Balance
$ 530,467
Transit Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 630,441
1,884,267
1,948,359
Ending Fund Balance
$ 566,349
Fleet Maintenance Enterprise Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 139,750
1,679,426
1,652,546
Ending Fund Balance
$ 166,630
Equipment Replacement Internal Service Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 2,640,322
846,800
387,200
Ending Fund Balance
$ 3,099,922
Resolution No. 16-29 October 25, 2016
Page 3 of 3
Section 2. That the budget, as submitted, amended, and hereinabove summarized by
fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated
above.
Section 3. That the budget hereby approved and adopted shall be signed by the Mayor
and made part of the public record of the Town.
ADOPTED this 25th day of October, 2016.
TOWN OF AVON, COLORADO
______________________________
Jennie Fancher, Mayor
ATTEST:
_____________________________
Debbie Hoppe
Town Clerk
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Kelly Huitt, Budget Analyst
Date: October 25, 2016
Re: Adoption of Proposed 2017 and Final Revised 2016 Capital Projects Fund
Action Before Council
Adoption of the Proposed 2017 and Final Revised 2016 Town of Avon Capital Projects Fund
budget and long-range plan.
Proposed Motion
“I move to approve Resolution #16-28 and #16-30 to adopt the 2017 and amend the 2016 Capital Projects Fund budget and long-range plan.”
Summary
The Town’s final revised Capital Projects Fund budget for 2016 and the proposed 2017
Capital Projects Fund budget are hereby submitted for adoption by the Avon Town Council.
Also submitted for acceptance by the Town Council is the long-range capital program
(otherwise referred to as the 5-year plan).
Concurrently with the presentation of the Town’s operating budgets, the Town Manager
presented her recommended Capital Projects Fund budget at the Council budget work session
held on September 27. A public hearing will be held on October 25th, 2016.
The following changes have been made subsequent to the September 27th budget work session:
Revenues
• Increased RETT revenues by $200,000 in 2016
• Moved the $2,900,000 transfer in from the URA for the new town hall tenant finish from 2016 to 2017
• Moved the Water Fund contribution for the public safety facility tap fee from
2017 to 2016
Facilities
• Increased 2016 budget for the construction of the joint public safety facility by $23,200 for tap fees paid
• Increased the 2016 budget for Fleet Maintenance building improvements by $10,000
• Moved $100,000 of the Nottingham Park Pavilion retractable door project budget
from 2016 to 2017
• Reduced the 2017 budget for the New Town Hall Tenant Finish by $200,500
• Increased the 2017 budget for the fiber connection between ARTF and the new
joint public safety facility by $3,341
Land and Land Improvements
• Increased the budget for the Nottingham Park Restroom Remodel by $54,600 to $315,000 total project budget. $28,150 of this budget remains in 2016, and $286,850 has been moved to 2017.
Recommendation:
Staff recommends that Council adopt the resolutions discussed above as presented, and accept
the long-range capital program as submitted.
Exhibits and Attachments: Capital Projects Fund Budget
Long-range Capital Program (5-year CIP Plan)
Resolution 16-28
Resolution 16-30
Section IV, Page 1
Original or Final
Prev. Amend.Revised Proposed Proposed
Actual Budget Budget Budget Budget
2015 2016 2016 2017 2018REVENUES
Taxes 2,369,314$ 2,100,000$ 2,300,000$ 2,200,000$ 2,200,000$
Intergovernmental 40,000 1,902,534 1,902,534 390,000 40,000 Investment Earnings 18,167 13,372 13,372 10,460 16,388
Other Revenue 93,246 80,000 80,000 80,000 80,000
Total Operating Revenues 2,520,727 4,095,906 4,295,906 2,680,460 2,336,388
Other Sources:
Bond Proceeds 3,800,000 9,102,205 6,602,205 - -
Operating Transfers-In 2,095,000 1,020,000 1,943,200 3,178,000 870,000
Total Other Sources 5,895,000 10,122,205 8,545,405 3,178,000 870,000
TOTAL REVENUES 8,415,727 14,218,111 12,841,311 5,858,460 3,206,388
EXPENDITURES
Capital Improvements:
Facilities 1,514,981 8,574,254 8,512,454 2,961,841 80,000
Land and Land Improvements 44,632 369,484 136,200 1,285,150 350,000
Roads and Streets 1,667,152 4,451,984 4,213,574 3,110,000 1,175,326
Water Fund Projects - 150,000 150,000 25,000 100,000
Communications and Technology 7,037 63,201 33,869 - -
Strategic Planning 51,050 20,000 75,000 - -
Other - 5,000 5,000 - - Debt Service:
Bond Issuance Costs 80,569 153,550 153,550 - -
Capital Leases 121,769 121,770 121,770 121,770 121,770
Total Capital Improvements 3,487,190 13,909,243 13,401,417 7,503,761 1,827,096
Other Uses
Operating Transfer-Out - General Fund 1,538,335 219,735 219,735 226,327 233,117
Operating Transfer-Out - Debt Service Fund 578,106 578,808 578,808 1,025,369 1,019,354
- -
Total Other Uses 2,116,441 798,543 798,543 1,251,696 1,252,471
TOTAL EXPENDITURES 5,603,631 14,707,786 14,199,960 8,755,457 3,079,567
NET SOURCE (USE) OF FUNDS 2,812,096 (489,675) (1,358,649) (2,896,997) 126,821
FUND BALANCE, Beginning of Year 3,386,721 6,198,817 6,198,817 4,840,168 1,943,171
FUND BALANCE, End of Year 6,198,817$ 5,709,142$ 4,840,168$ 1,943,171$ 2,069,992$
Fund Balances
Restricted For:
Street Improvements (COPs)2,637,739$ 1,670,145$ 1,369,576$ -$ -$
Asphalt Overlay 240,000 480,000 480,000 720,000 960,000
Assigned For:
Avon Town Hall Relocation / Renovation 1,425,000 - - - -
Avon Town Hall Tenant Finish - 2,500,000 2,900,000 - -
Unassigned:
Unreserved 1,896,078 1,058,997 90,592 1,223,171 1,109,992
Total Fund Balances 6,198,817$ 5,709,142$ 4,840,168$ 1,943,171$ 2,069,992$
Fund Summary
MUNICIPAL SERVICES
Capital Projects Fund #41
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Section IV, Page 2
Current Revised Proposed
Actual Budget Budget Budget
2015 2016 2016 2017 2018 2019 2020 2021
REVENUES
Real Estate Transfer Tax:2,369,314$ 2,100,000$ 2,300,000$ 2,200,000$ 2,200,000$ 2,200,000$ 2,200,000$ 2,200,000$
Interest Earnings 18,167 13,372 13,372 10,460 16,388 19,675 20,000 20,000
Intergovernmental:
Federal/State:
MAP-21 Grant (CFDA 20.205)- 1,355,000 1,355,000 - - - - -
GOCO Grant - Playground - - - 350,000 - - - -
Local Government:
ECO Grant - Traer Creek Bus Stop (50%)- 30,000 30,000 - - - - -
ECO Grant - Eaglebend / US Hwy 6 Bus Stop (50%)- 24,000 24,000 - - - - -
Eagle County Trails Grant - Phase 3 - 453,534 453,534 - - - - -
Asphalt Overlay Contributions - TCMD 40,000 40,000 40,000 40,000 40,000 40,000 75,000 75,000
Other Revenues:
Asphalt Overlay Contributions - Developer 80,000 80,000 80,000 80,000 80,000 80,000 - -
Donations and Contributions 10,000 - - - - - - -
Project Cost Reimbursements 2,194 - - - - - - -
Nonclassified 1,052 - - - - - - -
Total Operating Revenues 2,520,727 4,095,906 4,295,906 2,680,460 2,336,388 2,339,675 2,295,000 2,295,000
Other Sources:
Bond Issue Proceeds - Street Improvements 3,800,000 - - - - - - -
Bond Issue Proceeds - Joint Public Safely Facility - 6,602,205 6,602,205 - - - - -
Debt Proceeds - URA - 2,500,000 - - - - - -
Transfer in from General Fund
- Assigned to Capital Improvements - 150,000 1,550,000 - 750,000 -
- Short-term Loan 1,425,000 - - - - - - -
- Asphalt Overlay 120,000 120,000 120,000 120,000 120,000 120,000 75,000 75,000
Transfer in from the AURA
- New Town Hall Tenant Finish - - - 2,900,000 - - - - - Tract G - 500,000 - - - - - -
Transfer in from Community Enhancement Fund
- 2016 Power line Undergrounding - 100,000 100,000 - - - - -
- 2017 Playground - - - 158,000 - - - - Transfer in from Water Fund - 150,000 173,200 - - - - -
Transfer in from Equipment Replacement Fund 550,000 - - - - - - -
Total Other Sources 5,895,000 10,122,205 8,545,405 3,178,000 870,000 120,000 75,000 75,000
Total Revenues and Sources of Funds 8,415,727$ 14,218,111$ 12,841,311$ 5,858,460$ 3,206,388$ 2,459,675$ 2,370,000$ 2,370,000$
Projected
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Section IV, Page 3
Current Revised Proposed
Actual Budget Budget Budget
2015 2016 2016 2017 2018 2019 2020 2021
Projected
EXPENDITURES
Capital Improvements:
Facilities 1,514,981 8,574,254 8,512,454 2,961,841 80,000 - 70,000 700,000
Land and Land Improvements 44,632 369,484 136,200 1,285,150 350,000 - - -
Roads and Streets 1,667,152 4,451,984 4,213,574 3,110,000 1,175,326 676,770 625,000 365,000
Water Fund Projects - 150,000 150,000 25,000 100,000 300,000 - -
Communications and Technology 7,037 63,201 33,869 - - - - -
Strategic Planning 51,050 20,000 75,000 - - - - -
Other - 5,000 5,000 - - - - -
Debt Service:
Debt Issuance Costs 80,569 153,550 153,550 - - - - -
Capital Leases 121,769 121,770 121,770 121,770 121,770 43,082 26,279 26,279
Total Expenditures 3,487,190 13,909,243 13,401,417 7,503,761 1,827,096 1,019,852 721,279 1,091,279
Other Uses:
Operating Transfers Out - General Fund:
- Engineering Department Salary and Operations 213,335 219,735 219,735 226,327 233,117 240,110 247,314 254,733
- Repayment of Short-term Loan 1,325,000 - - - - - - -
Operating Transfers Out - Debt Service Fund:
- 2010 COPs (ARTF)255,775 255,557 255,557 254,481 254,831 250,300 255,225 254,800
- 2015B COPS (Street Improvements)322,331 323,251 323,251 319,863 318,248 321,582 319,613 322,493
- 2016 COPS (Public Safety Bldg.)- - - 451,025 446,275 448,325 450,075 449,375
Total Other Uses 2,116,441 798,543 798,543 1,251,696 1,252,471 1,260,317 1,272,227 1,281,401
Total Expenditures and Uses of Funds 5,603,631 14,707,786 14,199,960 8,755,457 3,079,567 2,280,169 1,993,506 2,372,680
Net Source (Use) of Funds 2,812,096 (489,675) (1,358,649) (2,896,997) 126,821 179,506 376,494 (2,680)
Fund Balance, Beginning of Year 3,386,721 6,198,817 6,198,817 4,840,168 1,943,171 2,069,992 2,249,498 2,625,992
Fund Balance, End of Year 6,198,817$ 5,709,142$ 4,840,168$ 1,943,171$ 2,069,992$ 2,249,498$ 2,625,992$ 2,623,312$
Fund Balances
Restricted For:
Street Improvements COPs 2,637,739$ 1,670,145$ 1,369,576 - -$ -$ -$ -
Asphalt Overlay 240,000 480,000 480,000 720,000 960,000 1,200,000 1,350,000 1,500,000
Assigned For:
Avon Town Hall Relocation / Renovation 1,425,000 - - - - - - -
Avon Town Hall Tenant Finish - 2,500,000 - - - - - -
Unassigned:
Unreserved 1,896,078 1,058,997 2,990,592 1,223,171 1,109,992 1,049,498 1,275,992 1,123,312
Total Fund Balances 6,198,817$ 5,709,142$ 4,840,168$ 1,943,171$ 2,069,992$ 2,249,498$ 2,625,992$ 2,623,312$
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Section IV, Page 4
Proposed Estimated
Total 2014 and Current Revised Project Cost Proposed
Project Prior Yr.Actual Budget Budget To-Date Budget
Budget Actuals 2015 2016 2016 2016 2017 2018 2019 2020 2021
CAPITAL IMPROVEMENT PROJECTS
Facilities:
General Government Facilities:
11011 New Town Hall Acquisition - 2014 33,617$ 5,822$ 27,795$ -$ -$ 33,617$ -$ -$ -$ -$ -$
11013 Mountain Vista Office Building Purchase 1,500,925 - - 1,500,925 1,500,925 1,500,925 - - - - -
11012 New Town Hall Tenant Finish Design 190,000 - - 190,000 190,000 190,000 - - - - -
New Town Hall Floor Expansion Feasibility Study 10,500 - - 10,500 10,500 10,500 - - - - -
New Town Hall Tenant Finish 2,699,500 - - - - - 2,699,500 - - - -
Joint Public Safety Facility Project:
12003 Design 450,000 - 69,606 381,394 381,394 451,000 - - - - -
12004 Construction 6,020,855 - - 5,997,655 6,020,855 6,020,855 - - - - -
Fiber - ATF to PSF 87,341 - - - - - 87,341 - - - -
Transit / PW Facilities Improvement Project:
13005 Public Works Improvements, (On-site and Lot 5)719,474 662,985 41,046 - - 704,031 - - - - -
Public Works Facilities
Cinder De-icer Storage 165,000 - - - - - - - - 15,000 150,000
Large Vehicle Storage 605,000 - - - - - - - - 55,000 550,000
Transportation Facilities
14010 Fleet Maintenance EPDM Roof Replacement 80,000 - - 80,000 - - - 80,000 - - -
14014 Fleet Maintenance Building Improvements 90,000 - - 80,000 90,000 90,000 - - - - -
14011 Transit Bus Shelters 264,382 - 19,382 155,000 155,000 174,382 - - - - -
14012 Transit Bus Stop - Traer Creek Plaza 60,000 4,490 - 55,510 55,510 60,000 - - - - -
Transit Bus Stop - Eaglebend / US Hyw 6 48,000 - - 48,000 48,000 48,000 - - - - -
Cultural and Recreational Facilities:
15012 Nottingham Park Pavilion 3,870,000 2,724,284 1,135,344 - - 3,859,628 - - - - -
15013 Recreation Center Exterior Renovation 52,750 - 52,902 - - 52,902 - - - - -
15014 Recreation Center - Remodel - Phase 2 98,530 - 96,530 - - 96,530 - - - - -
15015 Recreation Center - Bouldering Wall 50,000 - 48,646 - - 48,646 - - - - -
15016 Recreation Center - Slide Flume Refurbishment and S 59,000 - 23,730 35,270 35,270 59,000 - - - - -
Nottingham Park Pavilion - Retractable Door 125,000 - - 40,000 25,000 25,000 100,000 - - - -
Recreation Center - Fitness Floor 75,000 - - - - - 75,000 - - - -
Land and Land Improvements:
H.A. Nottingham Park Improvements
21016 Nottingham Park Zone C Improvements - Playground 868,300 3,966 - 71,034 70,000 73,966 798,300 - - - -
21017 Nottingham Park - Remodel Restrooms 315,000 - - 260,400 28,150 28,150 286,850 - - - -
21019 Upper Athletic Field Replacement 335,000 - - - - - - 350,000 - - -
21021 Fishing Pier Repairs 75,000 - 44,632 - - 44,632 - - - - -
21022 Eagle River Whitewater Park Repair 10,000 - - 10,000 10,000 10,000 - - - - -
21023 Eaglebend Affordable Housing Landscaping 28,050 - - 28,050 28,050 28,050 - - - - -
Nottingham Park Light Upgrade 125,000 - - - - - 125,000 - - - -
Nottingham Park Northside Port-a-Potty Sheds 75,000 - - - - - 75,000 - - - -
Projected
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Section IV, Page 5
Proposed Estimated
Total 2014 and Current Revised Project Cost Proposed
Project Prior Yr.Actual Budget Budget To-Date Budget
Budget Actuals 2015 2016 2016 2016 2017 2018 2019 2020 2021
CAPITAL IMPROVEMENT PROJECTS
Projected
Roads and Streets:
Streetscape Improvements
31014 Avon Rd. Streetscape Update 252,052 242,052 27,683 - - 269,735 - - - - -
31015 2014 Mall Improvements 1,992,703 1,789,645 54,820 - - 1,844,465 - - - - -
31026 Mall Improvements - Phase 2 240,000 - - 15,000 - - - - - - -
31018 Post Blvd. Landscaping Improvements 368,000 308,986 2,320 25,000 25,000 336,306 - - - - -
31019 Post Blvd. Electrical Assessment and Street Lights 78,000 44,401 28,541 - - 72,942 - - - - -
Post Blvd. Light Pole Replacement 100,000 - - - - - - 100,000 - - -
31022 Avon Rd./I70 Overpass Pedestrian Safety Improveme 88,000 - - 88,000 88,000 88,000 - - - - -
Avon Rd./I70 Overpass Aesthetics Improvements 270,000 - - - - - - 270,000 - - -
31024 Roundabout #4 TCW Art Element 260,000 - 10,000 - - 10,000 - - 20,000 230,000 -
Metcalf Road - Retaining Wall Stabilization 100,000 - - - - - 100,000 - - - -
31025 2015 Avon Rd. Landscaping Project 485,000 - 438,130 - - 438,130 - - - - -
35003 Roundabout #4 TCW Feature 60,000 75,343 1,718 - - 77,061 - - - - -
Wayfinding Signage 45,000 - - 45,000 45,000 45,000 - - - - -
Mall Activation Elements 20,000 - - - - - - 20,000 - - -
Annual Street Maintenance and Repair
Annual Paving/Road Improvements NA - 717,372 - - NA - 300,000 200,000 125,000 125,000
32016 Buck Creek Bridge Repair 280,865 - 280,865 - - 280,865 - - - - -
34025 West B/C Blvd. Pedestrian Crossing 64,318 - 49,318 15,000 15,000 64,318 - - - - -
34032 Annual Slurry Seals NA - - 150,000 - - - 435,326 191,770 230,000 200,000
32018 Post Blvd. Settlement Repair 75,000 - - 75,000 75,000 75,000 - - - - -
32019 Wildwood Road Repair 75,000 - - 75,000 75,000 75,000 - - - - -
Eaglebend Dr. & Nottingham Rd. Repaving 250,000 - - - - - 250,000 - - - -
Annual Guard Rail Repair NA - - - - - - 40,000 40,000 40,000 40,000
Street Improvements:
34014 Metcalf Bike Lane Phases 1 & 2 1,082,300 - 32,883 1,049,417 1,049,417 1,082,300 - - - - -
34033 Walkability - East and West B/C Blvd.2,705,000 - 1,254 203,746 203,746 205,000 2,500,000 - - - -
2016 Safety Improvements - West B/C Blvd 50,000 - - 50,000 50,000 50,000 - - - - -
West B/C Blvd. RR Crossing Improvements 10,000 - - 10,000 10,000 10,000 100,000 - - - -
Nottingham Rd. Pedestrian Crossings (3)60,000 - - - - - 60,000 - - - -
Multi-Modal/Alternative Mobility:
34015 Eagle Valley Trails Phase 3 (CDOT Funded)2,460,000 10,341 22,248 2,427,411 2,427,411 2,460,000 - - - - -
34016 Eagle Valley Trails Undergrounding Project (CEF)109,000 - - 100,000 100,000 109,000 - - - - -
Recreational Trails Program:
34026 Trails Master Plan - - - 23,410 - - - - - - -
34027 Soft and Hard Surface Trail Improvements 150,000 - - 100,000 50,000 50,000 100,000 - - - -
Metcalf Rd. FS 7-779 Trailhead Design and Improv.245,000 - - - - - - 10,000 225,000 - -
Water Fund Projects
21020 Pump House Pump Replacement 150,000 - - 150,000 150,000 150,000 - - - - -
Nottingham Rd. Debris Flow Study and Imp. / Sidewalk 25,000 - - - - - 25,000 100,000 300,000 - -
CAPITAL PROJECTS FUND 5-YEAR PLAN
INVENTORY DETAIL
Section IV, Page 6
Proposed Estimated
Total 2014 and Current Revised Project Cost Proposed
Project Prior Yr.Actual Budget Budget To-Date Budget
Budget Actuals 2015 2016 2016 2016 2017 2018 2019 2020 2021
CAPITAL IMPROVEMENT PROJECTS
Projected
Communications and Technology
e-Gov.:
81008 Fullcourt 60,000 - - 60,000 30,668 30,668 - - - - -
81010 Timekeeping Software and Peripheral Devices 35,000 24,762 7,037 3,201 3,201 35,000 - - - - -
Strategic Planning
Planning and Consulting:
79111 Space Needs Analysis 30,000 - 26,249 - - 26,249 - - - - -
79112 Tract G Feasibility Study 25,740 - 24,801 - - 24,801 - - - - -
Tract G Core / Parking Plan 75,000 - - 20,000 75,000 75,000 - - - - -
Other
93012 Historical Preservation 5,000 - - 5,000 5,000 5,000 - - - - -
Total Capital Improvement Projects 31,567,202$ 5,897,077$ 3,284,852$ 13,633,923$ 13,126,097$ 21,599,654$ 7,381,991$ 1,705,326$ 976,770$ 695,000$ 1,065,000$
Resolution No. 16-28 October 25, 2016
Page 1 of 2
TOWN OF AVON RESOLUTION NO. 16-28
SERIES OF 2016 A RESOLUTION TO AMEND THE 2016 TOWN OF AVON CAPITAL PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND AMENDING THE 2016 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2016 AND ENDING ON THE LAST DAY
OF DECEMBER, 2016
WHEREAS, the Town Council of the Town of Avon has adopted the 2016
Capital Projects Fund budget; and
WHEREAS, the Town Council has reviewed the revised estimated revenues and expenditures for 2016; and
WHEREAS, the Town Council finds it necessary to amend the 2016 Capital
Projects Fund budget to more accurately reflect the revenues and expenditures for 2016;
and
WHEREAS, upon due and proper notice, published or posted in accordance with the law, the proposed budget amendment to the 2016 budget was open for inspection by
the public at a designated place, a public hearing was held on October 25, 2016 and
interested taxpayers were given the opportunity to file or register any objections to the
proposed budget amendment; and
WHEREAS, whatever increases may have been made in the expenditures, like
increases were added to the revenues so that the budget remains in balance as required by
law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the Capital Projects
Fund is revised as follows for 2016:
Resolution No. 16-28 October 25, 2016
Page 2 of 2
Original or
Previously
Amended
2016 Budget
Current
Proposed
Amended
2016 Budget Capital Projects Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 6,198,817
14,218,111
14,707,786
$ 6,198,817
12,841,311
14,199,960
Ending Fund Balance $ 5,709,142 $ 4,840,168
Section 2. That the Capital Projects Fund budget, as submitted, amended, and
hereinabove summarized, hereby is approved and adopted as the capital program budget
of the Town of Avon for the year stated above.
Section 3. That the Capital Projects Fund budget hereby approved, amended, and
adopted shall be signed by the Town Manager and made part of the public record of the
Town.
ADOPTED this 25th day of October, 2016.
TOWN OF AVON, COLORADO
______________________________
Jennie Fancher, Mayor
ATTEST:
_____________________________
Debbie Hoppe
Town Clerk
Resolution No. 16-30 October 25, 2016
Page 1 of 2
TOWN OF AVON RESOLUTION NO. 16-30
SERIES OF 2016 A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2017
CAPITAL PROJECTS FUND BUDGET
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR THE CAPITAL PROJECTS FUND AND ADOPTING A BUDGET FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2017 AND ENDING ON THE
LAST DAY OF DECEMBER, 2017
WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager
to prepare and submit a long-range capital program to said governing body for its consideration;
and
WHEREAS, the Town Council of the Town of Avon has also appointed the Town
Manager to prepare and submit a proposed Capital Projects Fund budget to said governing body
for its consideration; and
WHEREAS, upon due and proper notice, published and posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place. A public
hearing was held on October 25, 2016, and interested taxpayers were given the opportunity to
file or register any comment to said proposed budget; and
WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the Capital Projects Fund budget remains in balance, as
required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO:
Section 1. That the long-range capital program as submitted to the Town Council is
hereby accepted as an official Town document and planning tool, and that the information
contained therein may be revised or extended each year with regard to capital improvements.
Section 2. That estimated revenues and expenditures for the Capital Projects Fund are as
follows for 2017:
Resolution No. 16-30 October 25, 2016
Page 2 of 2
2017
Proposed
Budget Capital Projects Fund Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 4,840,168
5,858,460
8,755,457
Ending Fund Balance $ 1,943,171
Section 3. That the budget, as submitted, and hereinabove summarized, hereby is
approved and adopted as the Capital Projects Fund budget of the Town of Avon for the year stated above.
Section 4. That the Capital Projects Fund budget hereby approved and adopted shall be
signed by the Mayor and made part of the public record of the Town.
ADOPTED this 25th day of October, 2016.
TOWN OF AVON, COLORADO
______________________________
Jennie Fancher, Mayor
ATTEST:
_____________________________
Debbie Hoppe, Town Clerk
AVON URBAN RENEWAL AUTHORITY
COMMISSIONERS REPORT
To: Chairperson Jennie Fancher and URA Commissioners
From: Kelly Huitt, Budget Analyst
Date: October 25, 2016
Re: 2017 Proposed and 2016 Revised Budgets
Action Before the Board
Adoption of the 2017 Proposed and 2016 Final Revised Avon Urban Renewal Authority annual budgets.
Proposed Motion
“I move to approve Resolution #16-02 and #16-03 to adopt the 2017 annual budget and
amend the 2016 annual budget for the Avon Urban Renewal Authority.”
Summary
Attached are the final proposed and revised budget resolutions for the Avon Urban Renewal
Authority. The Authority is considered a separate legal entity from the Town authorized by
the Colorado Urban Renewal Act.
The Authority’s budget summary is attached as an exhibit to this memorandum and is also included for informational purposes in the Town’s budget summary as a component unit of the Town.
Public Hearing. At the Avon URA meeting on October 25, 2016 a public hearing will be
held for members of the public to comment on the proposed 2017 budget.
Recommendation
Staff recommends that the Board adopt the resolutions as presented.
Exhibits and Attachments: Avon Urban Renewal Authority budget
Resolution No. 16-02
Resolution No. 16-03
Page 2
Section III, Page 1
Fund Summary
Original or Final
Prev. Amend.Revised Proposed Proposed
Actual Budget Budget Budget Budget
2015 2016 2016 2017 2018
REVENUES
Taxes 756,471$ 1,053,955$ 1,006,846$ 1,000,832$ 1,197,576$
Investment Earnings 3,617 4,712 3,769 4,712 7,853
Total Operating Revenues 760,088 1,058,667 1,010,615 1,005,544 1,205,429
Other Sources
Debt Issuance Proceeds - - - 3,000,000 -
TOTAL REVENUES 760,088 1,058,667 1,010,615 4,005,544 1,205,429
EXPENDITURES
Current:
General Government - 950 5,450 3,450 3,450
Capital Improvements - - 32,603 - -
Debt Service:
Principal 320,000 410,000 410,000 545,000 575,000
Interest 229,504 218,240 218,240 282,569 272,083
Bond Issuance Costs - - - 90,000 -
Treasurer Fees 28,499 31,620 39,200 39,000 43,080
Fiscal Charges 300 1,000 500 500 500
Total Operating Expenditures 578,303 661,810 705,993 960,519 894,113
Other Uses
Transfers Out - Capital Projects Fund - 500,000 - 2,900,000 -
Transfers Out - Town Center West Mtc. Fund 100,000 50,000 50,000 - -
Total Other Uses 100,000 550,000 50,000 2,900,000 -
TOTAL EXPENDITURES 678,303 1,211,810 755,993 3,860,519 894,113
NET SOURCE (USE) OF FUNDS 81,785 (153,143) 254,622 145,025 311,316
FUND BALANCES, Beginning of Year 826,178 857,941 907,963 1,162,585 1,307,610
FUND BALANCES, End of Year 907,963$ 704,798$ 1,162,585$ 1,307,610$ 1,618,926$
FUND BALANCES:
Restricted For:
Debt Service 628,240$ 628,240$ 628,240$ 628,240$ 628,240$
Urban Renewal 279,723 76,558 534,345 679,370 990,686
TOTAL FUND BALANCES 907,963$ 704,798$ 1,162,585$ 1,307,610$ 1,618,926$
AVON URBAN RENEWAL AUTHORITY #22 Summary
AVON URBAN RENEWAL AUTHORITY TOWN OF AVON, COLORADO
RESOLUTION NO. 16-02
SERIES OF 2016
A RESOLUTION AMENDING THE 2016 AVON URBAN RENEWAL AUTHORITY BUDGET
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority has
previously adopted the 2016 budget;
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority reviewed
the revised estimated revenues and expenditures for all funds for 2016;
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority finds it
necessary to amend the 2016 budget to more accurately reflect the revenues and expenditures for
2016;
WHEREAS, upon due and proper notice, published or posted in accordance with the law,
the proposed budget amendment to the 2016 budget was open for inspection by the public at a
designated place, a public hearing was held on October 25, 2016 and interested taxpayers were
given the opportunity to file or register any objections to the proposed budget amendment; and
WHEREAS, whatever increases may have been made in the expenditures, like increases
were added to the revenues so that the budget remains in balance as required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE AVON URBAN RENEWAL AUTHORITY:
Section 1. That estimated revenues and expenditures for the Avon Urban Renewal Authority
are revised as follows for 2016:
Original or
Previously
Amended
2016 Budget
Current
Proposed
Amended
2016 Budget
Avon Urban Renewal Authority
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
$ 857,941
1,058,667
1,211,810
$ 704,798
$ 907,963
1,010,615
755,993
$ 1,162,585
Resolution No. 16-02 October 25th, 2016
Page 1 of 2
Section 2. That the budget, as submitted and amended hereby is approved and adopted as the
budget of the Avon Urban Renewal Authority for the year stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the Chairman
and made part of the public record of the Authority.
ADOPTED this 25th day of October, 2016.
AVON URBAN RENEWAL AUTHORITY
______________________________
Jennie Fancher, Chairman
ATTEST:
_____________________________
Scott Wright, Treasurer
CERTIFIED:
_____________________________
Debbie Hoppe
Authority Clerk
Resolution No. 16-02 October 25th, 2016
Page 2 of 2
AVON URBAN RENEWAL AUTHORITY
TOWN OF AVON, COLORADO
RESOLUTION NO. 16-03
SERIES OF 2016
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND
ADOPTING A BUDGET FOR THE AVON URBAN RENEWAL AUTHORITY FOR
THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2017, AND
ENDING ON THE LAST DAY OF DECEMBER, 2017.
WHEREAS, the Board of Commissioners of the Avon Urban Renewal Authority has
directed the Authority’s Executive Director/Secretary to prepare and submit a proposed budget
for its consideration;
WHEREAS, Virginia Egger, Town Manager, has submitted a proposed budget to said
governing body on September 27, 2016;
WHEREAS, upon due and proper notice, published or posted in accordance with the law,
said proposed budget was open for inspection by the public at a designated place, a public
hearing was held on October 25, 2016 and interested taxpayers were given the opportunity to file
or register any objections to said proposed budget; and
WHEREAS, whatever increases may have been made in the expenditures, like increases
were added to the revenues so that the budget remains in balance, as required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE AVON URBAN RENEWAL AUTHORITY:
Section 1. That estimated revenues and expenditures for the Avon Urban Renewal Authority
are as follows for 2017:
2017
Proposed
Budget
Avon Urban Renewal Authority
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 1,162,585
4,005,544
3,860,519
Ending Fund Balance
$ 1,307,610
Resolution No. 16-03 October 25th, 2016
Page 1 of 2
Section 2. That the budget, as submitted, hereby is approved and adopted as the budget of
the Avon Urban Renewal Authority for the year stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the Chairman
and made part of the public record of the Authority.
ADOPTED this 25th day of October, 2016.
AVON URBAN RENEWAL AUTHORITY
______________________________
Jennie Fancher, Chairman
ATTEST:
_____________________________
Scott Wright, Treasurer
CERTIFIED:
_____________________________
Debbie Hoppe, Authority Clerk
Resolution No. 16-03 October 25th, 2016
Page 2 of 2
TOWN OF AVON, COLORADO
MINUTES FOR THE URBAN RENEWAL AUTHORITY MEETING FOR SEPTEMBER 27, 2016
AVON TOWN HALL, ONE LAKE STREET
URA 9-27-2016 Minutes .docx Page 1
1. CALL TO ORDER & ROLL CALL
Chairman Fancher called the meeting to order at 6:54 p.m. A roll call was taken and Authority members
present were Buz Reynolds, Matt Gennett, Jake Wolf, Scott Prince, Sarah Smith Hymes and Megan Burch.
Also present were Executive Director/Secretary Virginia Egger, Town Attorney Eric Heil, Treasurer Scott
Wright, Police Chief Greg Daly, Town Engineer Justin Hildreth, Fleet Director Rego Omerigic, Public Works
Director Gary Padilla, Executive Assistant to the Town Manager Preston Neill and Authority Clerk Debbie
Hoppe.
2. APPROVAL OF AGENDA
There were no changes to the agenda.
3. PUBLIC COMMENT – COMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA
No comments were made.
4. WORK SESSION
START TIME: 01:55:30
4.1. 2017 & 2018 URA BUDGET PRESENTATION (ASSISTANT TOWN MANAGER SCOTT WRIGHT)
5. ACTION ITEM
START TIME: 02:04:23
5.1. APPROVAL OF MINUTES FROM JANUARY 26, 2016 (AUTHORITY CLERK DEBBIE HOPPE)
Authority member Reynolds moved to approve the minutes for January 26, 2016; Authority member
Burch seconded the motion and it passed unanimously by those present.
6. ADJOURNMENT
There being no further business to come before the Authority, the meeting adjourned at 7:04 p.m.
RESPECTFULLY SUBMITTED:
______________________________
Debbie Hoppe, Authority Clerk
APPROVED:
Jennie Fancher ________________________________
Jake Wolf ________________________________
Matt Gennett ________________________________
Megan Burch ________________________________
Albert “Buz” Reynolds ________________________________
Scott Prince ________________________________
Sarah Smith Hymes ______________________________
28 2nd Street ♦ Suite 215 ♦ Edwards Colorado 81632
(970) 926 8686 ♦ fax (970) 926 8690
MEMORANDUM
TO: Town Manager
Town Council
Town of Avon, CO
FROM: Gerry Flynn
President
DATE: October 20, 2016
RE: Buffalo Ridge Revised HUD Loan Terms
Buffalo Ridge Affordable Housing Corporation previously refinanced Its HUD mortgage in 2013, with the
formal approval of Avon Town Council by Resolution No 13-16 dated May 28, 2013. At that time the
following HUD insured mortgage loan and Surplus Cash Notes were approved to refinance the previously
existing debt:
• HUD Insured Mortgage Loan originated by CBRE in the amount of $10,036,200, at an effective
interest rate of 4.55%
• Subordinate Surplus Cash Note to Corum Real Estate Group in the amount of $605,018 in satisfaction
of prior obligations for deferred development fees. The Surplus Cash Nolte bears interest at 7.5%
• Subordinate Surplus Cash Note to Eaglebend Affordable Housing Corporation in the amount of
$221,500 for cash advanced to Buffalo Ridge to fund a partial settlement with Corum Real Estate
Group. The Surplus Cash Note bears interest at 10%.
Because of delays in closing this financing in 2013 (from initial approval in May until closing on August 28,
2016) Buffalo Ridge locked a substantially higher HUD interest rate than available earlier in 2013. HUD
insured Mortgages can subsequently adjust that interest downward to the then prevailing mortgage rates in
situations where the reduction is significant enough to pay transaction costs. This benefit is typically
measured in total debt service saving after transaction costs or “Net Present Value” savings.
In 2016, Buffalo Ridge engaged CBRE HMF, Inc. to explore the potential savings of an interest rate reset or a
section 223(a)(7) refinance in order to reduce monthly debt service going forward, without extending final
maturity. The CBRE proposal estimated annual savings of over approximately $32,000 per year based on an
adjusted interest rate of 3.6%. That proposal has been filed with HUD and is awaiting Firm Commitment from
HUD at which time we can lock the interest rate and finalize documents for closing. At that time our
outstanding debt would be:
1. HUD-insured Mortgage in the amount of $10,036,200maturing in December 2043
2. The two Subordinate Surplus Cash Notes in the aggregate amount of $826,518, which have been
paid down to $650,604 as of October 31, 2016.
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 1 of 7
RESOLUTION NO. 16-32
TOWN OF AVON, COLORADO
APPROVING THE EXECUTION AND DELIVERY BY BUFFALO RIDGE
AFFORDABLE HOUSING CORPORATION OF A MORTGAGE LOAN
AND AUTHORIZING CERTAIN AMENDMENTS AND INCIDENTAL
ACTION THERETO.
W I T N E S S E T H :
WHEREAS, Buffalo Ridge Affordable Housing Corporation (the “Corporation”) has
been duly organized under the provisions of the Colorado Revised Nonprofit Corporation Act,
Articles 121 through 137 of Title 7, Colorado Revised Statutes, as amended, for the purpose of
acquiring interests in real property and to construct, install and operate certain improvements in
the Town of Avon, Colorado (the “Town”); and
WHEREAS, the Corporation acquired real and personal property and constructed
improvements to provide dwelling accommodations at rentals within the means of individuals or
families of low or moderate income (the “Project”), known as the Buffalo Ridge I Apartments;
and
WHEREAS, in order to finance the Project, the Corporation originally entered into a
Trust Indenture dated as of May 1, 2002 (as amended on March 8, 2011, the “Indenture”) with
Wells Fargo Bank, N.A., formerly known as Wells Fargo Bank West, National Association, as
Trustee under the Indenture (the “Trustee”) and issued its Multifamily Housing Project Revenue
Bonds (GNMA Mortgage-Backed Securities Program—Buffalo Ridge I Apartments Project),
Series 2002, in an aggregate principal amount of $10,315,000 (collectively, the “Bonds”); and
WHEREAS, in connection with the issuance of the Bonds the Town and the Corporation
executed and delivered a Project Agreement dated as of May 1, 2002, and amended on March 8,
2011 (the “Project Agreement”), under the terms of which the Corporation is responsible for
operating the Project, and, subject to certain conditions, title to the Project shall vest in the Town
upon the end of the term of the Project Agreement; and
WHEREAS, in order to refinance a loan that provided funds for the Project, and to pay
off certain obligations of the Corporation, the Corporation entered into (a) a mortgage loan with
CBRE HMF, Inc. on August 28, 2013 (“2013 Loan”), (b) executed a note and deed of trust in
connection therewith, and (c) entered into two subordinate cash flow notes (“Subordinate
Notes”);
WHEREAS, the Bonds have been redeemed in full and the Indenture has been
terminated; and
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 2 of 7
WHEREAS, in connection with the 2013 Loan, the Project Agreement was amended and
restated (“Amended and Restated Project Agreement”) which changes and agreement were
approved by the Town Council;
WHEREAS, the Corporation desires to enter into a new mortgage loan (the “New
Mortgage Loan”) with CBRE HMF, Inc. (the “New Lender”) in order to refinance the 2013
Loan; and
WHEREAS, proposed forms of the Note (the “New Mortgage Note), the Multifamily
Deed of Trust Assignment of Leases and Rents and Security Agreement (the “New Mortgage
Deed”) and the U.S. Department of Housing and Urban Development Regulatory Agreement for
Multifamily Housing Projects (the “New Mortgage Regulatory Agreement”) relating to the New
Mortgage Loan (collectively, together with any other documents executed in connection
therewith, the “New Mortgage Loan Documents”) (collectively, the “Agreements”) have been
presented before the Town Council at this meeting;
WHEREAS, it is not necessary in connection with the New Mortgage Loan to make any
changes to or amend the Amended and Restated Project Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO, AS FOLLOWS:
1. Consent. The Town hereby consents to the Corporation’s execution and delivery
of the New Mortgage Note, the New Mortgage Deed and the New Mortgage Regulatory
Agreement, substantially in the form presented to Town Council at this meeting, together with
any documents related thereto; provided the New Mortgage Loan does not exceed $10,036,200
in principal amount, does not bear interest at a rate exceeding 3.60%, and matures on or before
December 31, 2043.
2. Issuance of Indebtedness. The indebtedness evidenced by the Agreements, with
such changes as may be approved by the Town Manager, are, in all respects, hereby approved.
Such indebtedness shall bear interest payable at the rates and times and will mature in the
amounts and on the dates set forth in the Agreements.
3. Town Action. All actions taken by the members of the Town Council and other
officials of the Town with respect to the Agreements are hereby ratified and confirmed. The
Mayor of the Town (the “Mayor”) and the Town Clerk of the Town (the “Town Clerk”) are
hereby authorized and directed to execute, deliver, acknowledge or consent to, as applicable or
required, the Agreements and to take all action necessary or reasonably required by the terms of
the Agreements to carry out, give effect to and consummate the transactions contemplated
hereby and thereby, with such variations or revisions thereto deemed necessary or appropriate by
the Town Manager, and the execution and delivery of such incidental closing certificates and
releases as the Town Manager may determine to be necessary.
4. No Indebtedness of the Town. No provision of this Resolution or of the
Agreements or any other instrument executed in connection therewith, shall be construed as
creating an obligation on the part of the Town to pay the principal of, premium, if any, or interest
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 3 of 7
on indebtedness evidenced by the Agreements, nor as creating an indebtedness or financial
obligation on the part of the Town within the provisions or limitations of any statutory or
constitutional provision of the laws of the State of Colorado.
5. Title to Project. The Town hereby determines that it will accept title to the
Project, including any additions thereto, when the indebtedness evidenced by the Agreements is
fully paid and discharged in accordance with the Agreements.
6. Corporation’s Board of Directors. The Town hereby confirms the following as
the current Board of Directors of the Corporation.
Gerald E. Flynn
Jeffrey Spanel
Larry Brooks
Michele Evans
Craig Ferraro
7. Severability. If any provision of this Resolution should be held invalid, the
invalidity of such provision shall not affect any of the other provisions of this Resolution, the
intention being that the various provisions hereof are severable.
8. Other Actions. The appropriate officers of the Town are hereby authorized to
execute and deliver for and on behalf of the Town, any or all additional certificates,
acknowledgments, documents and other papers and to carry all other acts they may deem
necessary or appropriate in order to implement and carry out the matters authorized in this
Resolution and in the Agreements.
9. Effective Date; Repealer. This Resolution shall take effect immediately upon its
passage, and all acts, orders, resolutions, or parts thereof, taken by the Town in conflict with this
Resolution are hereby repealed or modified to the extent of such conflict.
[Remainder of page intentionally left blank]
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 4 of 7
INTRODUCED, APPROVED AND ADOPTED the 25th day of October 2016.
[SEAL]
TOWN OF AVON, COLORADO
By
Mayor
Attest:
By
Town Clerk
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 5 of 7
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
The Town Council of the Town of Avon, Colorado, held a regular meeting open to the
public at the Town Council Chambers at 400 Benchmark Road, Avon, Colorado, on October
25, 2016, at 5:30 p.m.
The following members of the Town Council, constituting a quorum thereof, were
present:
Council Members:
The following members of the Town Council were absent:
Council Members:
The following persons were also present:
Council Member __________ moved that the Resolution be finally passed and adopted
and numbered 16-___. Council Member __________ seconded the motion, and the question
being upon the final passage and adoption of the Resolution, the roll was called with the
following results:
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 6 of 7
Council Members Voting “Yes”:
The following Council Members recused due to Conflict of Interest:
The Mayor thereupon declared the Resolution finally passed and adopted and instructed
the Town Clerk to number the same as moved.
After consideration of other business to come before the Town Council, the meeting was
adjourned.
[SEAL]
TOWN OF AVON, COLORADO
By
Mayor
Attest:
By
Town Clerk
Res. 16-32 Approving Buffalo Ridge Refi
Oct 25, 2016
Page 7 of 7
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
I, Debbie Hoppe, Town Clerk of the Town of Avon, Colorado, do hereby certify that the
attached copy of Resolution No. 16-___, Series of 2016, is a true and correct copy; that said
Resolution was passed by the Town Council of the Town of Avon, Colorado, at its regular
meeting held at 400 Benchmark Road, Avon, Colorado, the regular meeting place thereof, on
October 25, 2016; that a true copy of said Resolution has been authenticated by the signatures of
the Mayor of the Town of Avon and myself as Town Clerk thereof, sealed with the seal of the
Town, and numbered and recorded in a book kept for that purpose in my office; that the
foregoing pages 1 through 6, inclusive, constitute a true and correct copy of the record of the
proceedings of said Town Council at its regular meeting of October 25, 2016, insofar as said
proceedings relate to said Resolution; that said proceedings were duly had and taken, that the
meeting was duly held; and that the persons were present at said meeting as therein shown.
IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the Town of
Avon, Colorado this _____ day of October, 2016.
[SEAL]
TOWN OF AVON, COLORADO
By
Debbie Hoppe, Town Clerk
Buffalo Ridge Affordable Housing
930-1190 Swift Gulch Road
Avon, CO 81620
68 Units
Section 223 (a)(7) Refinance
Firm Application Pursuant to MAP Guidelines
CBRE HMF, Inc.
FHA Mortgagee #25889-0000-8
1225 17th Street, Suite 3200
Denver, CO 80202
Phone: 303.628.1768
Fax: 303.628.1757
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 2
Table of Contents
Executive Summary ................................................................................................................................................ 3
Proposed Loan Strengths and Weaknesses: ........................................................................................................ 4
The Project .............................................................................................................................................................. 5
Market Area ............................................................................................................................................................ 6
Neighborhood ......................................................................................................................................................... 6
Underwriting of Income and Expenses ................................................................................................................... 7
Replacement Reserve .............................................................................................................................................. 9
Project Ownership & Management ......................................................................................................................... 9
Proposed Loan Assumptions ................................................................................................................................ 11
Sources and Uses .................................................................................................................................................. 12
Special Conditions and Waivers ........................................................................................................................... 12
Underwriter Recommendation .............................................................................................................................. 13
UNDERWRITER’S MAP CERTIFICATION ..................................................................................................... 14
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 3
Executive Summary
HUD Project No.: 101-35723 (Current number)
Project Name: Buffalo Ridge Affordable Housing
Address: 930-1190 Swift Gulch Road Avon, CO 81620
Section of Act: Proposed 223(a)(7) Refinance
CBRE HMF, Inc. (“CBRE” or “Lender”) hereby recommends for approval by the US Department of Housing and Urban
Development, a $10,036,200 loan insured pursuant to Section 223(a)(7) for Buffalo Ridge Affordable Housing
(“Subject Property”), at an interest rate of 3.25% for a term of 326 months.
Criterion:
1. Mortgage or Loan Amount Requested in Application N/A
2. Original Principal Amount of Existing Insured Mortgage $10,036,200
5. Amount Based on Debt Service Ratio: $11,963,600
10. Amount based on 100% of Existing Debt, Repairs, & other
certifiable Costs $10,296,400
The existing loan has a maturity date of December 1, 2043.
Please see the below chart comparing the current in place financing and proposed 223(a)(7) Refinance, which will
provide annual savings of $31,593 to the Borrower.
Current Loan Proposed Loan
Original Balance $10,036,200 $10,036,200
In-Place NOI (with Reserves) $838,730 $804,241
Interest Rate (with MIP) 4.55% 3.60%
Monthly P&I $48,000 $46,390
Annual P&I $576,000 $556,680
Annual Payment (with MIP) $623,400 $591,807
DSCR (based on P&I only) 1.45x 1.45x
DSCR (including MIP) 1.34x 1.36x
Loan Term 30 years 27 years
Monthly Savings (with MIP) $2,632.75
Annual Savings (with MIP) $31,593
The current debt service payment per the existing financing is $576,000 annually not including MIP. With
MIP, the current debt service payment is $623,400 annually. The DSC for the current debt based on the
underwritten Net Operating Income including Replacement Reserves is 1.45x before MIP, and 1.34x including
MIP.
The proposed financing will provide lower monthly debt service payments to $46,390, $556,680 annually,
not including MIP. With MIP, the monthly debt service payment will increase to $49,317, $591,807 annually.
This results in a monthly savings (with MIP) of $2,632.75 and an annual savings of $31,593. The proposed
loan’s DSC based on the current underwritten Net Operating Income including Replacement Reserves is
1.45x before MIP, and 1.36x including MIP.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 4
The DSC has increased from the current loan to the proposed loan (1.36x including MIP).
o There are two points new to the underwriting of this loan from the prior 223(a)(7) completed in 2013.
The first is the term of the loan may not be increased back to original pursuant to terms of the LURA.
The loan term is proposed at 326 months which reflects the term in place as of September 1, 2016
which is when the prepayment penalty drops to 7% from 8%. The loan underwriting anticipates a
closing on or about October 31, 2016.
o This project has a LURA in-place which meets the requirement for the MIP to be underwritten at .35%
per the new MIP rules in effect. The project is held by a non-profit organization with deed restrictions
that run with the land and are recorded. Previously, due to the non-profit and low-income restrictions
on the project the prior 223(a)(7) was underwritten with the .50% MIP rate.
o Since the loan term remains unchanged of 326 months, the monthly P&I has not significantly reduced.
The savings to the annual debt service payments of $31,593 will enable the Subject to improve long-term financial
viability, increase cash flow, reduce the risk of default, allow for funding of future capital needs and improve the
mortgage security.
The Property is owned and operated by the Buffalo Ridge Affordable Housing Corporation, a Colorado non-profit
corporation formed pursuant to the guidelines of Revenue Ruling 1963-20. The formation of the Corporation was
approved by the Town of Avon and the Corporation is being operated exclusively on behalf of and for the benefit of
the Town. All moneys of the Corporation must be used exclusively for the operation, maintenance and development
of the property. Further, the Project must be used to provide housing at affordable rental rates at 80% of AMI to
individuals or families of low or moderate income as mandated per a deed restriction with the Town of Avon.
The management of the Corporation is accomplished through a Board of Directors (the “Board”) which oversees
administration, operations and maintenance of the Project. The board consists of five directors. The present members
of the Board are Gerald E. Flynn, Jeffery M. Spanel, Megan Burch, Tamra Nottingham and Craig Ferraro. Megan
Burch and Tamra Nottingham were not members of the Board of Directors at the time of the initial HUD mortgage.
The property is being managed by Polar Star Properties under an agreement with the Corporation.
Proposed Loan Strengths and Weaknesses:
Strengths:
1. As a nonprofit owner no distributions are allowed therefore all of the savings will be used for the benefit of the
property and for retiring all debt as previously stated above.
2. Occupancy is steady and has remained above 98% for the most recent trailing 6 month period, per the rent rolls
analyzed through 7/31/2016.
3. Experienced Management Agent with Polar Star Properties.
4. The property is very well maintained.
Weaknesses:
1. There are two subordinated loans, the Development Fee Note and the Eagle Bend Affordable Housing
Corporation Note:
At the time the current 223(a)(7) loan closed there were four subordinate loans on the property for a total of
$997,743. There are currently two subordinate loans on the property with total balances of $738,498 as of
10/31/2016. A summary of the projected principal + accrued interest due as of 10/31/16, (the expected
closing date), is provided below:
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 5
Buffalo Ridge Affordable Housing Corporation
Schedule of Subordinate Debt
Obligation Interest
Rate
Note Date Maturity
Date
Principal as
of
10/31/2016
Accrued
Interest as of
10/31/2016
Total
Development Fee Note 7.50% 5/1/2014 12/1/2043 $429,104 $17,498 $446,602
Eagle Bend Affordable
Housing Corporation
10.00% 5/1/2014 12/1/2043 $221,500 $70,395 $291,895
The projected cash flow after debt service is $212,434 which will support the payoff of the remaining
subordinate debt each year until the maturity dates of 12/1/2043 which is coterminous with the mortgage.
There is sufficient excess cash flow after the debt service payments to pay down the loans. These loans will be
subordinated to the FHA insured first mortgage.
2. Proof of the continued extension of the Real Estate Tax Abatement at refinance has not been provided, however,
the borrower is obtaining an updated tax abatement letter to confirm the statement below. There will be a special
condition that a new letter will be required with the closing package.
Historical and ongoing tax abatement was verified by a letter dated January 30, 2013 from Mark Chapin who
is the Eagle County Assessor. The letter states that as long as the Town of Avon has an interest in the property
the exemption will remain. The Town of Avon’s interest is verified via the Project Agreement between the
Town of Avon and the Buffalo Ridge Affordable Housing Corporation dated May 1, 2002 which is a matter of
public record. The Town of Avon cannot remove their interest unless it is released via a sales transaction;
hence, the tax abatement will continue until the property is sold. The Eagle County Letter and the Project
Agreement are included as an Addendum to this narrative.
The Project
Buffalo Ridge Affordable Housing (the “Property” or “Subject”) is an existing 68-unit, four-story garden-style affordable
housing apartment building located in Avon, Colorado (Eagle County) constructed in 2003 under Section 221(d)(4),
refinanced under Section 223(a)(7) in 2013 and situated on 4.17 acres. The Subject consists of four buildings and is
comprised of 4 one-bedroom units, 24 two-bedroom units and 40 three-bedroom units. The Property is located on
Swift Gulch Road, which is ½ mile west from the I-70 interchange in Avon, CO. Avon, CO is located in Eagle
County, which is approximately three miles North of Beaver Creek,10 miles West of Vail and two hours West of
Denver.
The Subject has 160 parking spaces, one hundred surface spaces and sixty garages. The Subject’s unit mix is
depicted in the chart below:
Unit
Description
Number of
Units
Average Apartment
Unit Area (sf)
Monthly
Rent
Rent
Per SF
1 BR / 1 BA 4 605 $960 $1.59
2 BR / 1 BA 4 846 $1,250 $1.48
2 BR / 1 BA 4 868 $1,250 $1.44
2 BR / 1 BA 12 873 $1,250 $1.43
2 BR / 1 BA 4 953 $1,250 $1.31
3 BR/ 2BA 40 1,199 $1,485 $1.24
Total 68
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 6
The above rents are the market rents based on the July 31, 2016 rent roll. The rents recently increased so as tenants
renew their leases, the lease rent will match the stated market rent. Currently, there are no concessions.
As mentioned previously, per a deed restriction with the Town Avon, the subject property offers affordable rents of
80% of AMI to its residents. The deed restriction runs with the land and will continue perpetually unless it is voided
with a foreclosure. The monthly rent shown above reflects rents that are closer to 64% of AMI.
Market Area (CBRE, Inc.)
The subject property is located in Eagle County, Colorado. Eagle County includes the towns of Avon, Basalt, Beaver
Creek, Eagle, Edwards, Gypsum, Dotsero, Minturn, Red Cliff, and Vail. Interstate 70 bisects the county extending east
to west and passing through the Glenwood Canyon of the Colorado River a short distance to the west and continuing
onto Grand Junction.
The Eagle County economy is largely service related to the resort activities at Vail and Beaver Creek. Although the
county has become more of a year round resort area due to the number of golf courses developed over the last
twenty years, employment still tends to be seasonal with peaks during the winter and summer months and dropping
during the fall and spring shoulder seasons. Non-service employment can be found in medical, construction, light
manufacturing and government. Vail Resorts, Inc. is the largest employer in Eagle County, with a seasonal work force
of about 2,800 and 1,500 year-round. The stable year round workforce has averaged 30k jobs in recent years.
Neighborhood
Buffalo Ridge Affordable Housing is located in Eagle County in the town of Avon. The town of Avon is centered
approximately 110 miles west of the city of Denver’s central business district. Avon has a population of approximately
6,500. Schools, retail, and public transportation are all within close proximity to the subject property.
The subject is located in an immediate neighborhood that because of its boundaries (US Forest Service Property and
Interstate 70) has a relatively isolated feel. Outside of the subject’s immediate neighborhood, the major commercial
arterial is Highway 6, which is developed with a combination of commercial and residential uses. There are few, if
any, vacant and developable sites located within the subject neighborhood to accommodate future demand.
Accordingly, any future construction would most likely occur as redevelopment of an improved site. In summary, the
subject neighborhood is in the mature portion of the growth cycle with no significant change forecasted.
Tenant Occupancy Review
Information Source: Borrower supplied rent roll-certified as of 7/31/2016
Preparer: Will Wright, CBRE
Leases with less than 6 months remaining: 29%
Leases at rents below that estimated as market in the appraisal/application: 0%
Leases at rents higher than estimated as market in the appraisal/application: 0%
Leases reported as delinquent (1 wk past due): 0%
Leases with terms less than 12 months 3%
Leases with terms greater than 12 months 4%
Expired leases pending renewal: 0%
Vacant Units 2.9%
Occupancy at the Subject has remained stable since 2003 and has maintained an average occupancy level of 98.5%
since third quarter 2014.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 7
CBRE received rent rolls from February 2016 through July 2016. Physical occupancy rates ranged from 100%
(February and March 2016) to 95.6% (June 2016) and averaged 98.5% over the most recent 6-month period as
shown below. The most recent rent roll (7/31/2016) indicates occupancy of 97.1%.
Underwriting of Income and Expenses
CBRE underwrote GPR and other income based on the year-to-date June 2016 financial statements and then
annualized.
Number of Units 68
2013 2014 2015 Jun-16
Audit Audit Audit YTD Annualized CBRE Underwriting
Gross Potential Rent 1,094,238 1,094,407 1,094,401 1,097,590 1,097,590
Stores & Commercial 000 00
Garage and Parking 61,023 69,404 69,535 76,982 0
Laundry & Vending 15,698 14,593 17,321 17,422 0
NSF & Late Charges 9,570 8,260 6,555 7,340 0
Utilities Reimbursement 149,873 155,480 155,916 156,602 0
Other Revenue 20,595 30,172 29,410 25,532 283,878
Loss to Vacancy (47,357) (18,810) (15,883)(8,956)(54,880)5.00%
Loss to Concessions (108,968) (47,082) (1,059)0 0 0.00%
Loss to Bad Debt (9,510) (4,825) (13,524) (11,106)0 0.00%
Effective Gross Income (EGI) 1,185,162 1,301,599 1,342,672 1,361,406 1,326,589 5.00%
Administrative 17,627 17,747 25,915 18,614 18,614
Payroll 97,826 109,246 112,156 103,736 103,736
Mgmt Fee 48,695 49,969 49,733 56,708 56,380 4.25%
Utilities 161,708 173,412 170,676 175,686 175,686
Operating & Maintenance 97,813 112,405 95,801 100,150 100,150
Real Estate Taxes 000 00
Insurance 24,375 30,477 32,175 37,722 37,722
Other 1,157 0 12 0 0
Total Expenses excluding RFR 449,201 493,256 486,468 492,616 492,288
Reserve for Replacement (RFR)30,060 30,060 30,060 30,060 30,059 442 per unit
Total Expenses including RFR 479,261 523,316 516,528 522,676 522,347
Net Operating Income 705,901 778,283 826,144 838,730 804,241
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 8
Vacancy loss is based on 5% of the total gross potential rent. The $54,880 underwritten loss to vacancy
accounts for more than the 2015 vacancy, concessions and bad debt combined. Further discussion on the
historical occupancy is discussed above in the Tenant Occupancy Review section.
Historical and ongoing tax abatement was verified by a letter from Mark Chapin who is the Eagle County
Assessor. The letter states that as long as the Town of Avon has an interest in the property the exemption will
remain. The Town of Avon’s interest is verified via the Project Agreement between the Town of Avon and the
Buffalo Ridge Affordable Housing Corporation dated May 1, 2002 which is a matter of public record. The
Town of Avon cannot remove their interest unless it is released via a sales transaction; hence, the tax
abatement will continue until the property is sold.
CBRE Underwritten Expenses are based on 2016 YTD figures with the exception of the management fee,
which is underwritten to 4.25% of EGI.
Replacement reserves are underwritten the current reserve for replacement payment of $30,060 and
$442/unit.
The underwritten NOI of $804,241 is 4.12% less than the YTD 2016 NOI. This is due to the 5%
underwritten loss to vacancy which has historically be lower than this amount.
Projections for 2016 are a stabilized NOI of $838,730 which is an improvement of over $12K from
2015 and over $34K from the underwritten NOI.
Site Inspection
The Underwriter performed a site visit of the property on August 11th and surveyed 11 units. One of each unit type
was inspected. No property issues were observed during the site visit.
Outstanding Loan
CBRE HMF, Inc. is the current lender and servicer on the outstanding indebtedness. The current outstanding principal
balance as of September 1, 2016 is $9,512,278. The current debt service including MIP is $623,400 annually.
The existing loan is open to prepayment with a 7% prepayment premium.
The estimated payoff will adjust based on the outstanding principal balance and estimated interest charges and fees
once the payoff statement is finalized. Per the HUD Form 9807 dated August 16, 2016, HUD has approved the
voluntary termination of the loan with no expiration. For calculation purposes, we assume an October 31, 2016
closing, at which time the existing loan balance would be approximately $9,480,433. If we do not close by the end
of October then a revised payoff statement will be obtained.
Subordinated Debt
There are currently two subordinate loans on the property for a total of $738,497. A summary of the projected
principal + accrued interest due as of 10/31/2016, (the expected closing date), is provided below.
Buffalo Ridge Affordable Housing Corporation
Schedule of Subordinate Debt
Obligation Interest
Rate
Note Date Maturity
Date
Principal as
of
10/31/2016
Accrued
Interest as of
10/31/2016
Total
Development Fee Note 7.50% 5/1/2014 12/1/2043 $429,104 $17,498 $446,602
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 9
Eagle Bend Affordable
Housing Corporation
10.00% 5/1/2014 12/1/2043 $221,500 $70,395 $291,895
Replacement Reserve
HUD REAC Inspection
The most recent REAC score is dated September 10, 2015. The Subject received a rating of 87b* per the REAC
inspection. This is a good score with some minor systematic deficiencies noted. There were no life-threatening
concerns noted at the Subject. Since the REAC inspection, the borrower provided a report that accurately identifies
the repairs that have been made to correct the Exigent Health and Safety items, the location of those repairs, and the
dates the repairs were made.
PCNA Report
CBRE HMF, Inc. requested a waiver of the PCNA due to the fact that the Subject is currently a 223(a)(7) Refinance
transaction that closed on August 29, 2013. The PCNA was originally completed on February 4, 2013. No critical
repairs were identified and $5,292 in non-critical and accessibility repairs were identified and completed prior to
closing in August 2013. The most recent REAC inspection was performed on September 10, 2015 and received a
score of 87b*. The replacement reserve balance as of August 31, 2016 is $170,261.60. On August 1, 2016, CBRE
HMF, Inc. received approval of the waiver from Mark Feilmeier of the Denver HUD Office. It was noted that a PCNA
must be completed no later than during the tenth year after the last PCNA (February 4, 2013). A copy of the PCNA
waiver request and approval has been included in the application package.
Project Ownership & Management
The Property is owned and operated by the Buffalo Ridge Affordable Housing Corporation; a Colorado non-profit
corporation formed pursuant to the guidelines of revenue ruling 1963-20, and is governed by a Board of Directors.
The Borrowing entity has owned and operated the property since its original construction.
The Board of Directors is presently comprised of five members including, Gerald E. Flynn, Jeffery M. Spanel, Megan
Burch, Tamra Nottingham, and Craig Ferraro. All of the members of the board were in place at the time of the
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 10
original (a)(7) transaction in 2013 with the exception of Megan Burch and Tamra Nottingham, both joining the
organization in 2015.
Gerry Flynn has been involved in real estate development and management in the Vail Valley for over 20 years.
Initially, in his role as Chief Financial Officer of Vail Resorts, Gerry was involved in the resort developments of Beaver
Creek and Bachelor Gulch. Additionally, Gerry was directly responsible for the development of workforce housing in
the community, which has resulted in the development of over 1,100 new units in the last 15 years.
Gerry is currently managing member and owner of Polar Star Development, LLC, which owns a 60% interest in Polar
Star Properties, LLC (“PSP”). Mr. Flynn is currently Chairman and President of various nonprofit boards which own and
operate affordable housing projects in Eagle County.
PSP manages approximately 494 rental housing units and specializes in the unique needs of resort community
workforce housing. PSP is currently the subject’s property management company; hence, an identity of interest exists.
Jeffery M. Spanel has been a principal in Inter-Mountain Engineering, Ltd., a consulting engineering firm, since the
firm was founded in 1978. Inter-Mountain Engineering, Ltd. provides a wide range of services to the construction
industry in Eagle County, including land planning; utility, roadway, and drainage design; soils and construction
materials testing; land surveying; and construction management. In addition, Mr. Spanel is a managing partner in
Wintergreen Homes, LLC, the original developer of the Eaglebend Apartments and of other affordable and entry-level
housing developments in the Rocky Mountain region. Mr. Spanel holds a Bachelor of Science degree in Construction
Engineering from Iowa State University.
Megan Burch was an advocate program director and shelter director for The Resource Center of Eagle County in
Avon, Colorado from 2001 to 2004 where she developed, implemented, and managed shelter programs in start-up
residential domestic violence programs. From 2004 to 2010, Ms. Burch was the project manager for Evans Chaffee
Construction Group in Avon, Colorado. There she estimated and managed construction project valued up to $2
million, analyzed and controlled budgets throughout the project, created and managed project schedules and
supervised project superintendents. From 2010 to present, Ms. Burch is currently the strategy, partnerships, and
performance manager for Eagle County Department of Human Services in Eagle, Colorado. Her duties include
training and supervising division staff, writing and managing multiple grants, state and federal, for a variety of
program areas. Ms. Burch has also been an elected council member for the Town of Avon since November of 2014.
Tamra Nottingham (Underwood) has been an attorney based in Colorado for 27 years where she focused on ski
resort operations including commercial leasing operational and management agreements, regulatory affairs and
corporate matters. Ms. Underwood founded the law firm of Tamra N. Underwood, PC in 2011 and presently serves
the needs of ski resort clients, including Arapahoe Basin, Squaw Valley/Alpine Meadows, Sierra-at-Tahoe and Bear
Valley and other small businesses. From 1990 to 1998, Ms. Underwood worked as Assistant General Counsel of
Vail Resorts, Inc./Vail Associates and was responsible for all legal aspects of the company’s operations and
compliance at Vail and Beaver Creek such as contractual relationships, federal, state, and local permitting/licensing,
due diligence for acquisitions and other legal matters.
Craig Ferraro is the managing partner with East West Partners, a resort development firm headquartered in Beaver
Creek, Colorado. Craig is currently the Chief Financial Officer and Vice President of East West Partners and each of
its development projects. Craig received a B.S. in Business from the University of Colorado and an MBA from the
University of Pennsylvania Wharton School. Craig became a Certified Public Accountant in California while working
for Touche Ross.
Nonprofit entities and sponsoring parent organizations need to be evaluated for credit history, experience and
capacity. Officers of the Board of Directors are subject to credit and previous participation review. However, other
members of the Board are generally not subject to such reviews beyond previous participation. Megan Burch and
Tamra Underwood were not on the Board at the time of the HUD 223(a)(7) loan and are considered “new” Sponsors.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 11
Both individuals are also Officers of the Non-profit Corporation. As a result, a limited Mortgage Credit review (in
addition to a review of previous participation), was performed on them as follows:
92013 Supp – Burch
Ms. Burch has answered “no” to the four questions at the bottom of the Supplemental.
92013 Supp – Underwood
Ms. Underwood has answered “no” to the four questions at the bottom of the Supplemental.
2530 APPS
CBRE has engaged an APPS consultant to complete a baseline submission and an Org Tier Report along with a
Schedule A was completed. Both exhibits are found within the Firm Application Package.
Proposed Loan Assumptions
The Mortgagor’s application for loan insurance of $10,036,200 is based on the following assumptions:
1. Rents for the Subject’s units are based on the currently achieved rental rates, and an underwritten 5% physical
vacancy rate.
2. Underwritten expenses were based on the annualized 2016 expenses with the following exceptions:
a. Management Fee was underwritten to 4.25% of EGI based on the Subject’s historical operating
statements.
b. Insurance was underwritten to the actual 2016 expense
c. Real Estate taxes are abated
3. The loan amount is constrained by 100% of the original mortgage amount.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 12
Sources and Uses
The new loan and the additional cash investment are shown in the Sources and Uses exhibit:
Special Conditions and Waivers
CBRE HMF, Inc. requested a waiver of the PCNA due to the fact that the Subject is currently a 223(a)(7) Refinance
transaction that closed on August 29, 2013. The PCNA was originally completed on February 4, 2013. No critical
repairs were identified and $5,292 in non-critical and accessibility repairs were identified and completed prior to
closing in August 2013. The most recent REAC inspection was performed on September 10, 2015 and received a
score of 87b*. The replacement reserve balance as of August 31, 2016 is $170,261.60. On August 1, 2016, CBRE
HMF, Inc. received approval of the waiver from Mark Feilmeier of the Denver HUD Office. It was noted that a PCNA
must be completed no later than during the tenth year after the last PCNA (February 4, 2013). A copy of the PCNA
waiver request and approval has been included in the application package.
ESTIMATED SOURCES AND USES FOR CLOSING
FHA Cost Certifiable Costs
Existing Debt Amount 9,480,433 0
Prepayment Penalty 663,630 7%
FHA Approved Additional Debt 0 N/A
Estimate of Repair Cost 0 0 per unit
Financing Fee 25,000 0.25%
GNMA Issuance Costs / Lender Legal / Lender App Fee 24,800 Estimated
Borrower's Counsel 30,000 Estimated
Title & Recording Fees 20,000 Estimated
0.15% FHA Application / Exam Fee (1) 15,054 0.15%
First Year MIP (2) 35,127 0.35%
PCNA, Survey, PZR 1,800 Estimated
Deposit to Replacement Reserve 0 0 per unit
Total Certifiable Costs 10,295,844
Other Closing Requirements
Repair Escrow (Portion Over - Collaterized)0 10% of Repair Amount
Discount 0 Subject to Market
Accrued Interest on Existing Loan 0 To Be Determined
Total Other Closing Requirments 0
Total Uses 10,295,844
Sources of Funds
FHA Insured Mortgage 10,036,200
Investor Contribution (through premium pricing) 259,644
Owner Contribution 0
Total Sources 10,295,844
Reconcilation of Owner Contribution
Owner Contribution 0
Return of Repair Escrow after Completion of Repairs 0
MIP Return and Refund (1) 0
Net Cash Investment (Cash Out)0
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 13
The Surplus Cash Notes of the Deferred Development Fee and the Eagle Bend Affordable Housing Note are
subordinated to the current loan and will need to be subordinated to the new debt at the time of closing (October 31,
2016).
Underwriter Recommendation
On behalf of CBRE HMF, Inc., I recommend that HUD issue mortgage insurance under the 223(a)(7) program for a
first mortgage loan of $10,036,200, with a term of 326 months (27 years) and an interest rate of 3.25% with a MIP
of 0.350%.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 14
UNDERWRITER’S MAP CERTIFICATION
Project: Buffalo Ridge Affordable Housing
Location: 930-1190 Swift Gulch Road
Section: 223(a)(7) Refinance
I understand that my underwriting review will be used by CBRE HMF, Inc. to document to the U.S. Department of
Housing and Urban Development that the MAP Lender's application for FHA multifamily mortgage insurance was
prepared and reviewed in accordance with the MAP HUD requirements. I certify that my review was in accordance
with the MAP HUD requirements applicable on the date of my review and that I have no financial interest or family
relationship with the officers, directors, stockholders, or partners of the Borrower, the general contractor, any
subcontractors, the buyer or seller of the proposed property or the architect or engage in any business that might
present a conflict of interest.
CBRE HMF, Inc. (CBRE) has reviewed all in-house and third party forms/reports/reviews. The preparers of the
forms/reports/reviews are qualified as required by the MAP guide and has the necessary insurance required by the
guide. The forms/reports/reviews were prepared in the manner required by the guide and the forms/reports/reviews
are complete and accurate, except where noted as a result of CBRE’s review of the forms/reports/reviews. The
proposed loan represents an acceptable risk to the Department and is economically sound, based on CBRE’s review
and analysis and the proposed loan and processing complies with all FHA statutory, regulatory and administrative
requirements.
I am employed full time by the MAP Lender (underwriter) or under contract for this specific assignment (appraiser,
market analyst, cost architect) and that I have no other side deals, agreements, or financial considerations with the
MAP Lender or others in connection with this transaction.
I hereby certify that I have directly supervised the MAP Underwriter Trainee in completion of the specific tasks identified
below by the said Trainee, and acknowledge that I have full responsibility for all aspects of the underwriting of this
transaction.
CBRE HMF, Inc.
By: Leslie Duchene
Title: Chief FHA Underwriter
Date: September 12, 2016
Warning: Title 19 U.S. C. 1001, provides in part that whoever knowingly and willfully makes or uses a document
containing any false, fictitious, or fraudulent statement or entry, in any manner in the jurisdiction of any department or
agency of the United States, shall be fined not more than $10,000 or imprisoned for not more than five years or both.
Buffalo Ridge Affordable Housing [CBRE HMF, Inc., September 12, 2016]
Page 15
MAP Underwriter Trainee Certification
For
Buffalo Ridge Affordable Housing
Section: 223(a)(7)
The undersigned MAP Underwriter contributed to the completion of this Underwriters Narrative Summary as well as
the processing of forms by completing the Review, Approval, & Analysis of the following Narrative Sections:
1. Project Ownership and Management
2. Executive Summary
3. Tenant Occupancy Review
CBRE HMF, Inc.
By:
Underwriting Analyst
Date: September 12, 2016
Heil Law & Planning, LLC Office: 970.468.0635
1022 Summit Drive
Dillon, CO 80435 E-Mail: eric@heillaw.com e-mail: ericheillaw@yahoo.com
H EIL L AW
TO: Honorable Mayor Fancher and Town Council members
FROM: Eric J. Heil, Town Attorney
RE: Termination of Benchmark Covenants
DATE: October 20, 2016
SUMMARY: Representatives of Traer Creek LLC have requested that the Town of Avon consider,
participate and support an effort to terminate the Declaration of Protective Covenants for Benchmark at
Beaver Creek Subdivision, originally adopted in 1974 (“Benchmark Covenants”). The Town Council
reviewed my introductory memorandum at its regular meeting on September 27, 2016 and provided
direction to proceed with efforts to provide notice to property owners and prepare documents necessary for
termination of the Benchmark Covenants.
HISTORY: The Benchmark Covenants predate the incorporation of the Town of Avon. The Benchmark
Covenants address permitted uses, approval of construction plans, fences, signs, livestock, trees, building
height and parking, and other matters. At the time, the Benchmark Covenants were typical of initial
covenants created by a master developer to guide the development of a large multi-use planned
development area. However, some 42 years later, the Benchmark Covenants are outdated, duplicitous
with Town’s Development Code regulations, and are largely unenforced. Traer Creek LLC has found that
the Benchmark Covenants are now a cloud on property title as well as impediment to certain retail
commercial deals, and has therefore requested the Town’s support and participation in an effort to
terminate the Benchmark Covenants.
RECOMMENDATION: The Town of Avon’s Development Code, sign code, building code and other
municipal regulations address the same topic matters in the Benchmark Covenants, but in a more defined,
complete and modern manner. The Town’s regulations are more easily updated, are more easily
accessible, and are better administered through the Avon Community Development department than the
Benchmark Covenants. The Benchmark Covenants makes several references to review and approval of
private a design committee; however, such design committee has not existed for more than a decade.
Upon review of the Benchmark Covenants, I fully support and recommend termination of the
Benchmark Covenants because they are duplicitous of the Town’s Development Code and other municipal
regulations, appear to no longer have any valid purpose or offer any protection to property owners, create
unnecessary restrictions and requirements, and create unnecessary exceptions on property title throughout
the Town of Avon. The Benchmark Covenants also affect Town owned properties in the original
Benchmark Subdivision.
PROCESS TO TERMINATE: The Benchmark Covenants apply to all of the original platted area of the
Town of Avon, which is basically everything on the valley floor except Eagle Bend, Nottingham Station,
River Front, Brookside and the Village (at Avon). The Benchmark Covenants allow for the amendment and
termination through a five member Landowner’s Committee appointed by a majority of the landowners in
the Benchmark Subdivision. The Town of Avon appears to be the majority landowner and may therefore
effectively control the appointment of the five member Landowner’s Committee. The Town of Avon may
only be one member of the Landowner Committee. A decision of the Landowner Committee requires the
concurring vote of four members.
M EMORANDUM & PLANNING, LLC
Avon Town Council
Termination of Benchmark Covenants
Oct 20, 2016
Page 2 of 2
The law firm of Johnson and Repucci, hired by Traer Creek LLC, is assisting with the process. The
process includes notification of all landowners in the Benchmark Subdivision with an explanation of the
effort to terminate the covenants, conducting a ballot to appoint the five person Landowner Committee, and
documenting the actions of the land owner committee once appointed. A notice was sent to property
owners on October 14, 2016 which is attached to this memorandum. Notice has also been published in the
Vail Daily. The notice and procedures for termination of the Benchmark Covenants has been coordinated
with a local title insurance company to ensure that the process is effective in order to remove the
Benchmark Protective Covenants from an encumbrance on properties within the Benchmark Subdivision.
Effectively, the Town is the land owner of more than 51% of the original Benchmark Subdivision.
Therefore, the Town’s vote will determine the appointment of the five person Landowner Committee. The
Town of Avon may appoint one representative to the Landowners Committee. Jennie Fancher, Mayor is
proposed for the Town’s representative. Other property owners that have been identified as supportive of
this effort include Katherine Pakozdi, Rob E. Tartre, Marka Ann McLaughlin Brenner, and Ellen Mary
Crosbie.
The following actions are requested for Council consideration:
(1) Approve a landowner ballot on behalf of the Town of Avon for consent to terminate the Benchmark
Covenants.
(2) Approve a landowner ballot on behalf of the Town of Avon to vote for Jennie Fancher, Katherine
Pakozdi, Rob E. Tartre, Marka Ann McLaughlin Brenner, and Ellen Mary Crosbie to be on the five
person Landowners Committee.
(3) Authorize the Town’s representative on the Landowners Committee (i.e. Jennie Fancher) to vote to
terminate the Benchmark Covenants and take such other actions as a Landowner Committee member
as required to effectuate the termination of the of the Benchmark Covenants.
A proxy statement and absentee ballot form is attached which the Town may complete and sign with
regard to the first two action items.
REQUESTED MOTION: “I move to vote for termination of the Benchmark Covenants, vote for the
appointment of Jennie Fancher, Katherine Pakozdi, Rob E. Tartre, Marka Ann McLaughlin Brenner, and
Ellen Mary Crosbie as members of the Benchmark Landowners Committee, and authorize Jennie Fancher
to vote in favor of terminating the Benchmark Covenants at the Landowners Committee meeting and take
such other action as required to effectuate the termination of the Benchmark Covenants.”
Thank you, Eric
ATTACHMENTS: A: The Benchmark Covenants, with amendments
B: Notice to Property Owners dated October 14, 2016
C: Proxy Statement and Absentee Ballot
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
Attachment A: Benchmark Covenants
1
{00357637 / 4 }
BENCHMARK AT BEAVER CREEK SUBDIVISION OWNERS
October 14, 2016
Notice of Avon Town Council Public Meeting
and
Notice of Special Owners Meeting
BY USPS FIRST CLASS MAIL
To All Owners Within Benchmark at Beaver Creek Subdivision:
The Town of Avon invites all Owners of property within Benchmark at Beaver Creek
Subdivision (the “Benchmark Subdivision”) to attend the Avon Town Council
meeting on Tuesday, October 25, 2016 at the Avon Town Hall, located at 1 Lake
Street, Avon, CO 81620, and invites all Owners of property within the Benchmark
Subdivision to attend a Special Owners Meeting to be held at 2:00 p.m. Mountain
Time on Tuesday, November 15, 2016 in the Avon Town Hall, located at 1 Lake
Street, Avon, CO 81620.
The purpose of this Special Owners Meeting is to (1) consider revocation and termination
of the restrictive covenants set forth in Declaration of Protective Covenants for Benchmark
at Beaver Creek Subdivision recorded February 27, 1974 in Book 233, Page 565 of the
Eagle County, Colorado real property records, as amended and/or restated by the various
instruments referenced in Exhibit A attached hereto (collectively, the “Declaration”); and
(2) announce the results of the Owners’ vote to revoke and terminate the Declaration, as
further described below.
The Declaration was adopted in 1974 before the incorporation of the Town of Avon in 1978
as part of the original Benchmark development. The Declaration encumbers a substantial
portion of the Town’s municipal boundaries. Since Avon’s incorporation, the Town of Avon
has adopted a Home Rule Charter and Avon Municipal Code (the “Town Code”). Title 7 of
the Town Code sets forth the Avon’s Development Code which includes a comprehensive
and cohesive set of modern land use, zoning, design and landscaping regulations applicable
to all of Avon, including the Benchmark Subdivision.
The Declaration itself is outdated in that it includes provisions which are often inconsistent
with the regulations in the Town Code. In addition, since the Declaration has been
amended and restated multiple times, the existence of the Declaration as an encumbrance
against title to properties included within the Benchmark Subdivision is extremely difficult
to track since some of the amendments only affect discrete portions of the Benchmark
Subdivision, but not others. Overall, the Town believes that the Declaration is convoluted,
redundant and creates a second and unnecessary set of development rules that impedes
economic vitality within the portions of the Town encumbered by the Declaration.
Attachment B: Notice to Benchmark Owners
2
{00357637 / 4 }
After careful consideration, the Town of Avon firmly believes that revocation and
termination of the Declaration will simplify the regulation of development within the
Benchmark Subdivision. The resulting clarity in regulations applicable to the Benchmark
Subdivision should benefit the marketability of properties within the Benchmark
Subdivision by eliminating a confusing and convoluted secondary set of regulations
encumbering the Benchmark Subdivision’s properties.
The Declaration and its associated restrictive covenants may be revoked and terminated, as
applicable, by either (i) the written consent of the owners of at least 51% of the land within
the Benchmark Subdivision, and/or (ii) the written approval of a 4/5ths majority vote of a
Landowner’s Committee comprised of five individual landowners within the Benchmark
Subdivision, duly elected by the owners of at least 51% of the land within the Benchmark
Subdivision. Termination of the Declaration would be made effective upon and evidenced
by executing and recording the Termination of Protective Covenants for Benchmark at
Beaver Creek Subdivision (the “Termination”) attached hereto as Exhibit B.
The Special Owners Meeting will be facilitated by the Town which owns title to a majority
of the land encumbered by the Declaration. After answering any questions that may be
posed by owners of title to properties within the Benchmark Subdivision, the Town will
tally and announce the results of the owners’ voting based on the completed proxies and
ballots enclosed with this notice. The voting of the Landowners Committee will also be
announced at the Special Owners Meeting if available at that time. No other business will
be discussed or conducted at the Special Owners Meeting. All votes pertaining to
revocation and termination of the Declaration must be cast using the enclosed form
of proxy and ballot, which must be returned in accordance with the instructions
stated below, no later than Friday, November 11,2016, which is two (2) business
days prior to the Special Owners Meeting. The owners each have two votes: (i) for or
against revocation and termination of the Declaration; and (ii) for or against election of the
ballot’s slate of five individual owners appointed to the Landowner’s Committee who shall
be directed to vote for revocation and termination of the Declaration.
All votes must be cast on the proxy and ballot form enclosed; must be mailed by United
States Postal Service First Class Mail, faxed, or scanned and e-mailed to the address below;
and must be received at such address on or before Friday, November 11, 2016 (which is
two (2) business days prior to the Special Owners Meeting). Mail completed proxy and
ballot to:
Benchmark at Beaver Creek Subdivision
CONFIDENTIAL BALLOT
C/O Michael J. Repucci
Johnson & Repucci LLP
2521 Broadway, Suite A
Boulder, CO 80304
Facsimile: 303-442-0191
E-mail: tarioux@j-rlaw.com
Attachment B: Notice to Benchmark Owners
3
{00357637 / 4 }
Thank you for your participation in this important matter to assist in furthering the
continued economic vitality of Avon.
Town of Avon,
Virginia Egger
Virginia Egger, Town Manager
Eric J. Heil
Eric J. Heil, Town Attorney
Enclosures:
1.Proxy Statement and Absentee Ballot
2.Agenda for Special Owners Meeting
Attachment B: Notice to Benchmark Owners
A-1
{00357637 / 4 }
Exhibit A
DECLARATIONS AND AMENDMENTS
Reception
Number Book Page Recording
Date Document Title
129459 233 565 2/27/1974 Declaration of Protective Covenants for Benchmark
at Beaver Creek Subdivision
135288 239 249 4/7/1975 Amended Declaration of Protective Covenants for
Benchmark at Beaver Creek Subdivision
Amends 233/565 [References Plat 233/566]
141817 245 642 4/5/1976
Second Amendment to Declaration of Protective
Covenants for Benchmark at Beaver Creek
Amends 239/49 [References Plats 129460 and
134061]
143173 246 947 6/14/1976 Declaration of Additional Protective Covenants
[References Decls 233/565, 239/249, and 245/642]
146410 250 143 11/18/1976
Restatement of and Third Amendment to
Declaration of Protective Covenants for Benchmark
at Beaver Creek
Amends 233/565, 245/642, 246/947 [References
Plats 129460, 134061, 142223, 142224, and 145347]
184517 288 116 7/12/1979 Restatement of and Fourth Amendment to
Declaration of Protective Covenants for Benchmark
at Beaver Creek Subdivision
[References 250/143 and 246/947]
184968 288 567 7/19/1979 Declaration of Additional Protective Covenants
233718 337 366 3/5/1982
Restatement of and Fifth Amendment to Declaration
of Protective Covenants for Benchmark at Beaver
Creek Subdivision
308238 411 960 4/23/1985
Restatement of and Sixth Amendment to
Declaration of Protective Covenants for Benchmark
at Beaver Creek Subdivision
[References 246/947]
418888 522 721 2/7/1990 Amendment to Declaration of Protective Covenants
for Benchmark at Beaver Creek Subdivision
[References 411/960]
Attachment B: Notice to Benchmark Owners
B-1
{00357637 / 4 }
Exhibit B
TERMINATION OF PROTECTIVE COVENANTS FOR BENCHMARK AT BEAVER CREEK
SUBDIVISION
TERMINATION OF PROTECTIVE COVENANTS
FOR
BENCHMARK AT BEAVER CREEK SUBDIVISION
THIS TERMINATION OF PROTECTIVE COVENANTS FOR BENCHMARK AT BEAVER
CREEK SUBDIVISION (this “Termination”) is made and entered into this day of
, 2016 by the Town of Avon, Colorado, a Colorado home rule municipal
corporation acting on behalf of the “Benchmark at Beaver Creek Owners” and the
“Benchmark at Beaver Creek Landowners Committee” (as those terms are hereinafter
defined).
RECITALS
WHEREAS, pursuant to that certain Declaration of Protective Covenants for
Benchmark at Beaver Creek Subdivision recorded February 27, 1974 in Book 233 at Page
565 of the Eagle County, Colorado real property records, as amended, restated and
modified by the instruments listed in Exhibit A attached hereto and made a part hereof
(the Declaration of Protective Covenants for Benchmark at Beaver Creek Subdivision,
together with all amendments and modifications thereto, are hereinafter collectively
referred to as the “Declaration”), certain conditions, stipulations, agreements, limitations,
restrictions and uses have been made and placed of record as restrictive and protective
covenants (collectively, the “Protective Covenants”) running with title to the real property
known as Benchmark at Beaver Creek Subdivision, as such land is identified and depicted
in those certain plats recorded in the real property records of Eagle County, Colorado that
are listed in Exhibit B attached hereto and made a part hereof (the “Subdivision”); and
WHEREAS, pursuant to the Declaration, the Protective Covenants may be
abandoned, terminated, amended, altered, revoked or modified, as applicable, by either (i)
the written consent of the owners of at least 51% of the land within the Subdivision (the
“Benchmark at Beaver Creek Owners”), and/or (ii) the written approval of at least a
4/5ths majority vote of the Landowners Committee comprised of five individual owners in
the Subdivision who are duly elected by the owners of at least 51% of the land within the
Subdivision (the “Benchmark at Beaver Creek Landowners Committee”); and
WHEREAS, pursuant to the Declaration, the Benchmark at Beaver Creek Owners
have by written consent pursuant to a duly held election, and the duly elected Benchmark
at Beaver Creek Landowners Committee has by at least a 4/5 majority vote, agreed and
elected to terminate, abandon, and revoke the Protective Covenants in accordance with this
Termination; and
Attachment B: Notice to Benchmark Owners
B-2
{00357637 / 4 }
WHEREAS, all other preconditions to the effectiveness of this Termination have
occurred or been duly waived.
TERMINATION
NOW, THEREFORE, effective immediately upon the recording of this Termination in
the real property records of Eagle County, Colorado, the Declaration and all Protective
Covenants contained therein shall be terminated, abandoned, and revoked and shall be of
no further force or effect whatsoever.
IN WITNESS WHEREOF, the Town of Avon, owning at least 51% of the land within
the Subdivision and acting on behalf of the Benchmark at Avon Owners and the Benchmark
at Avon Landowners Committee, as applicable, attest to the truth of the foregoing Recitals
and approve this Termination as of the date and year first written above.
Town of Avon
By:
Name:
Title:
By:
Name:
Title:
APPROVED AS TO LEGAL FORM:
Town of Avon Attorney
Attachment B: Notice to Benchmark Owners
B-3
{00357637 / 4 }
STATE OF COLORADO )
)ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this ______ day of
_________________, 2016, by __________________, as of the Town of Avon, a
Colorado home rule municipal corporation.
WITNESS my hand and official seal.
Notary Public
My commission expires:
STATE OF COLORADO )
)ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this ______ day of
_________________, 2016, as of the Town of Avon, a Colorado home rule
municipal corporation.
WITNESS my hand and official seal.
Notary Public
Attachment B: Notice to Benchmark Owners
B-4
{00357637 / 4 }
Exhibit A
DECLARATIONS AND AMENDMENTS
Reception
Number Book Page Recording
Date Document Title
129459 233 565 2/27/1974 Declaration of Protective Covenants for Benchmark at
Beaver Creek Subdivision
135288 239 249 4/7/1975 Amended Declaration of Protective Covenants for
Benchmark at Beaver Creek Subdivision
Amends 233/565 [References Plat 233/566]
141817 245 642 4/5/1976
Second Amendment to Declaration of Protective
Covenants for Benchmark at Beaver Creek
Amends 239/49 [References Plats 129460 and 134061]
143173 246 947 6/14/1976 Declaration of Additional Protective Covenants
[References Decls 233/565, 239/249, and 245/642]
146410 250 143 11/18/1976
Restatement of and Third Amendment to Declaration
of Protective Covenants for Benchmark at Beaver
Creek
Amends 233/565, 245/642, 246/947 [References Plats
129460, 134061, 142223, 142224, and 145347]
184517 288 116 7/12/1979 Restatement of and Fourth Amendment to Declaration
of Protective Covenants for Benchmark at Beaver
Creek Subdivision
[References 250/143 and 246/947]
184968 288 567 7/19/1979 Declaration of Additional Protective Covenants
233718 337 366 3/5/1982
Restatement of and Fifth Amendment to Declaration of
Protective Covenants for Benchmark at Beaver Creek
Subdivision
308238 411 960 4/23/1985
Restatement of and Sixth Amendment to Declaration of
Protective Covenants for Benchmark at Beaver Creek
Subdivision
[References 246/947]
418888 522 721 2/7/1990 Amendment to Declaration of Protective Covenants for
Benchmark at Beaver Creek Subdivision
[References 411/960]
Attachment B: Notice to Benchmark Owners
B-5
{00357637 / 4 }
Exhibit B
RECORDED PLATS
Reception
Number Book Page Recording
Date Document Title
129460 233 566 2/27/1974 Final Plat, Benchmark at Beaver Creek, Eagle
County, Colo.
134061 238 41
12/26/197
4
Revised Final Plat, Benchmark at Beaver Creek,
Eagle County, Colo.
142223 246 43 4/27/1976
Final Plat Amendment No. 1, Lot 5, Block 1, Tract A
and Tract B, Benchmark at Beaver Creek, Eagle
County, Colorado
142224 246 44 4/27/1976
Final Plat Amendment No. 2, Lot 26, 27, and 28,
Block 2, Benchmark at Beaver Creek, Eagle County,
Colorado
145347 249 93 10/1/1976 Final Plat Amendment No. 3, Benchmark at Beaver
Creek, Eagle County, Colo.
Attachment B: Notice to Benchmark Owners
{00358803 / 4 }
PROXY STATEMENT AND ABSENTEE BALLOT FOR
BENCHMARK AT BEAVER CREEK SUBDIVISION
A Special Owners Meeting of the Benchmark at Beaver Creek Subdivision (the “Owners”) is
scheduled for Tuesday, November 15, 2016 at 2:00 p.m.Mountain Time in the Avon Town
Hall, located at 1 Lake Street, Avon, CO 81620.
Please fill in the proxy information below if you wish to appoint someone to attend the
meeting in your place. You may ONLY choose to name as your proxy ONE person who
is an Owner of title to real property in the Subdivision.
Your votes in this matter on the two (2) questions presented MUST be cast via this
absentee ballot and be received on or before Friday, November 11, 2016 at the below
address. You may fill out only one (1) ballot, regardless of how many tracts, parcels,
lots or units you own within the Subdivision.
Therefore, regardless of whether you plan to be at the meeting, please complete the
absentee ballot, sign it, and timely deliver it to the address listed below.
PROXY STATEMENT AND ABSENTEE BALLOT
Your Name(s): [insert merge field]
Your Benchmark at Beaver Creek Address(es):
(attach additional pages, if necessary)
************************ PROXY STATEMENT ************************
KNOW ALL MEN BY THESE PRESENTS,That I/We, [insert merge field], being the Owner(s)
of the real property described as Eagle County Assessor’s Tax Parcel Identification
Number(s) [insert merge field], do hereby irrevocably appoint any designated official of the
Town of Avon, Colorado to be my/our/its Proxy, to attend in my/our/its place the Special
Owners Meeting to be held on Tuesday, November 15, 2016, at 2:00 p.m.Mountain Time.
This Proxy shall remain in full force and effect until such time as it shall be revoked by the
undersigned in writing, but in no event later than the actual date of the Special Owners
Meeting.
Your Signature:
Your Signature:
Attachment C: Proxy Statement-Absentee Ballot
2
{00358803 / 4 }
************************ ABSENTEE BALLOT ************************
To be completed whether or not you also attend the Special Owners Meeting. There
will be no voting at the Special Owners Meeting. All voting is via this absentee ballot.
I hereby vote as follows on each of the following two (2) questions:
QUESTION NO. 1 (Check only ONE from the following two choices):
3
{00358803 / 4 }
Home Phone: __________________________________Cell Phone:
Email:
This completed ballot MUST be received at the below address by Friday, November
11, 2016 via USPS First Class Mail, Facsimile or E-mail:
Benchmark at Beaver Creek Subdivision
CONFIDENTIAL BALLOT
C/O Michael J. Repucci
Johnson & Repucci LLP
2521 Broadway, Suite A
Boulder, CO 80304
Facsimile: 303-442-0191
E-mail: tarioux@j-rlaw.com
Attachment C: Proxy Statement-Absentee Ballot
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Matt Pielsticker, AICP, Planning Director
Meeting Date: October 25, 2016 Meeting
Agenda Topic: First Reading of Ordinance 2016-19, An Ordinance Approving the Rezoning of Lot 4,
Mountain Vista Resort Subdivision, from Planned Unit Development (PUD) to Public
Facilities (PF)
ACTION BEFORE COUNCIL
Vote on an Ordinance that changes the zoning of the new Town Hall parcel from Planned Unit
Development (PUD) to Public Facilities (PF) zone district.
PROPOSED MOTION
“I move to approve Ordinance 2016-19 (Exhibit A), thereby approving first reading of an Ordinance
rezoning Lots 4, Mountain Vista Resort Subdivision, from PUD to PF.”
BACKGROUND
Shortly after the purchase of the new Town Hall building and Lot 4, Mountain Vista Resort
Subdivision, Staff presented the option to rezone the property to PF; this would have been
concurrent with the Points of Colorado application to rezone the remainder of the Mountain Vista
Resort Subdivision as TC. While the accessory uses of the Mountain Vista building are still pending,
the potential to use ground floor space to accommodate retail, a coffee shop, a visitor’s center, or
other similar use is being considered. Analysis of the structural capability to hold additional floors,
potentially accommodating housing on the top of the building, is also forthcoming. Council provided
direction to further evaluate the zoning options so as to not restrict possibilities with new
construction.
Code text amendments were processed to allow more flexibility with additional housing uses in PF
and governmental uses in the TC zone district. The following changes to the development code
were approved:
1. Residential Uses were added as a Special Review Use (SRU) in the PF zone district; and
2. Public and Institutional Uses added as a Use by Right in the TC zone district.
Following the approval of the code text changes, the Planning and Zoning Commission (PZC) again
reviewed the rezoning of Lot 4. At a public hearing on October 4, 2016, PZC discussed the intended
use of the facility first and foremost as a governmental office building. Citing concerns with other
potential non-governmental uses in the development and resultant parking demands, PZC
recommended that Council approve rezoning the property from PUD to the PF zone district, citing
the following findings:
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 1
1. The Application was reviewed in accordance §7.16.050, Rezonings, Avon Development
Code, and is found to be in substantial compliance with the review criteria.
2. The subject property is publicly owned by the Town of Avon and should remain public
without private uses.
3. Town Center (TC) zone district designation is not appropriate for public uses.
4. Uses allowed in the TC zone district could result in inadequate parking allocations, or
result in private enterprises’ reliance on public parking currently reserved for the
Recreation Center and other public uses.
5. The Application provides assurances with respect to building form, development
standards, and allowed uses consistent and in scale with adjacent neighboring
existing and planned land uses.
6. The Application is substantially compliant with the purpose statements of the
Development Code by providing for the orderly, efficient use of the Property, while
at the same time conserving the value of the investments of owners of property in
Town.
PROPERTY DESCRIPTION
Lot 4 is approximately a 1/4 acre in size and is currently surrounded by parking lots and undeveloped
portions of the Mountain Vista development project. The lot itself is covered mostly with the vacant
office building footprint and concrete sidewalks surrounding the building. The property is bounded
on the west by Tract G and surface parking; south by the Main Street Pedestrian Mall; on the north
by the partially developed Sheraton Mountain Vista Subdivision, and on the east by Lot B and
potential future site of a hotel.
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 2
REZONING REVIEW CRITERIA
As outlined in Sec. 7.20.080(e), the PF district “is intended to provide sites for public uses such
as community centers, police and fire stations, and governmental facilities.” The review
process and review criteria for zoning amendments are governed by AMC §7.16.050,
Rezonings. Council shall use the criteria below as the basis for a final decision on the
application. Staff responses to each review criteria are provided.
(1) Evidence of substantial compliance with the purpose of the Development Code;
The entire Purpose statement section from the Development Code (Section 7.04.030 -
Development Code Purposes) is outlined for reference:
(a) Divide the Town into zones, restricting and requiring therein the location, erection,
construction, reconstruction, alteration and use of buildings, structures and land for trade,
industry, residence and other specified uses; regulate the intensity of the use of lot areas;
regulate and determine the area of open spaces surrounding such buildings; establish building
lines and locations of buildings designed for specified industrial, commercial, residential and
other uses within such areas; establish standards to which buildings or structures shall
conform; establish standards for use of areas adjoining such buildings or structures;
(b) Implement the goals and policies of the Avon Comprehensive Plan and other applicable
planning documents of the Town;
(c) Comply with the purposes stated in state and federal regulations which authorize the
regulations in this Development Code;
(d) Avoid undue traffic congestion and degradation of the level of service provided by streets
and roadways, promote effective and economical mass transportation and enhance effective,
attractive and economical pedestrian opportunities;
(e) Promote adequate light, air, landscaping and open space and avoid undue concentration
or sprawl of population;
(f) Provide a planned and orderly use of land, protection of the environment and preservation
of viability, all to conserve the value of the investments of the people of the Avon community
and encourage a high quality of life and the most appropriate use of land throughout the
municipality;
(g) Prevent the inefficient use of land; avoid increased demands on public services and
facilities which exceed capacity or degrade the level of service for existing residents; provide
for phased development of government services and facilities which maximizes efficiency and
optimizes costs to taxpayers and users; and promote sufficient, economical and high-quality
provision of all public services and public facilities, including but not limited to water, sewage,
schools, libraries, police, parks, recreation, open space and medical facilities;
(h) Minimize the risk of damage and injury to people, structures and public infrastructure
created by wild fire, avalanche, unstable slopes, rock fall, mudslides, flood danger and other
natural hazards;
(i) Achieve or exceed federal clean air standards;
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 3
(j) Sustain water sources by maintaining the natural watershed, preventing accelerated
erosion, reducing runoff and consequent sedimentation, eliminating pollutants introduced
directly into streams and enhancing public access to recreational water sources;
(k) Maintain the natural scenic beauty of the Eagle River Valley in order to preserve areas of
historical and archaeological importance, provide for adequate open spaces, preserve scenic
views, provide recreational opportunities, sustain the tourist-based economy and preserve
property values;
(l) Promote architectural design which is compatible, functional, practical and complimentary
to Avon's sub-alpine environment;
(m) Achieve innovation and advancement in design of the built environment to improve
efficiency, reduce energy consumption, reduce emission of pollutants, reduce consumption of
non-renewable natural resources and attain sustainability;
(n) Achieve a diverse range of attainable housing which meets the housing needs created by
jobs in the Town, provides a range of housing types and price points to serve a complete
range of life stages and promotes a balanced, diverse and stable full time residential
community which is balanced with the visitor economy;
(o) Promote quality real estate investments which conserve property values by disclosing
risks, taxes and fees; by incorporating practical and comprehensible legal arrangements; and
by promoting accuracy in investment expectations; and
(p) Promote the health, safety and welfare of the Avon community.
Staff Response: The Application is substantially compliant with the purpose statements
of the Development Code by providing for the orderly, efficient use of the Property,
while at the same time considering adjacent land uses and compatibility of land uses in
the vicinity.
The Application complies with the goals and policies of the Avon Comprehensive Plan
and other applicable planning documents. Two planning study documents were
completed in 2015 that support the rezoning and final use of the building as a Town Hall.
The Avon Town Hall Facility
Assessment and Space
Needs Analysis was
completed by SEH, Inc
consultant to the Town.
In addition to looking at
space requirements and
condition of the existing
Town Hall, the study
identified Lot 4 as the
preferred option for a new
Town Hall.
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 4
Further support for this rezoning was documented with the Planning Services Review
and Update of Nottingham Park Master Plan, Swift Gulch Master Plan, and Lot 5
Development Plan, completed in November, 2015 by Stan Clauson Associates, consultant
to the Town. That planning study looked at three alternatives for Town Hall, with the
preferred option as Lot 4.
Staff Response: The application will provide consistency with the Comprehensive Plan,
and supporting planning documents listed above. Specific goals and policies that
support the rezoning include:
Policy C.1.6: Include sufficient land for public uses such as
schools, recreation, community facilities (such as
childcare), and government services near the
people who use them.
Goal J.2: Ensure cost effective provision and development of public
facilities and services.
Policy J.2.2: Locate schools, parks, and other civic facilities, along trails,
sidewalks, and transit facilities.
Goal J.3.1: Encourage the broad participation of citizens in planning efforts
and decision-making.
The West Town Center Investment Plan also supports moving public offices from
their current location to accommodate other potential uses in its current footprint.
The area between the Recreation Center and New Town Hall property is still
envisioned to accommodate an expansion to the Recreation Center as well as a
possible parking structure with employee housing and limited retail space on the
Main Street Pedestrian Mall.
(3) Physical suitability of the land for the proposed development or
subdivision;
Staff Response: The Property is physically suitable for the proposed development
as a Town Hall. A design and development process is already underway for the
envisioned land use.
(4) Compatibility with surrounding land uses;
Staff Response: Governmental offices, with supportive community and related uses
fit well between the park, Recreation Center, and library, with transition to the
Main Street Pedestrian Mall and lodging activities that surround. The permitted
uses in the PF zone District include the following:
• Art Gallery or Museums
• Community Centers
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 5
• Libraries
• Government Services, Offices, and Facilities
• Education
• Transit Facilities
• Medical
• Recycling Centers
• Residential Uses by Special Review Use
• Other Accessory Uses as determined by the Director
Public uses are concentrated in this area of Town at the edge of Nottingham Park
and appear to be compatible with surrounding residential, commercial, and lodging
land uses. The interface of Lot 4 with the surrounding uses (both existing and
proposed) will be studied in more detail with the completion of the Main Street
Pedestrian Mall planning.
(5) Whether the proposed rezoning is justified by changed or changing
conditions in the character of the area proposed to be rezoned
Staff Response: As identified with updated planning studies, conditions have
changed in the area of Tract G with the construction of the Pavilion. Additionally,
ballot issues passed for the police and fire departments for the relocation to the
north side of Interstate 70. This property is positioned between several TC
properties to the east, and a large area of PF zoned district property to the west.
While the potential use/character may be unconventional, it will ultimately be for
the public good. It is envisioned that the building and supporting uses will have a
high level of interaction with the Main Street Pedestrian Mall and be supportive of
public use to a much higher degree than the current Town Hall facility on Tract G.
(6) Whether there are adequate facilities available to serve development
for the type and scope suggested by the proposed zone compared to the existing
zoning, while maintaining adequate levels of service to existing development;
Staff Response: Adequate facilities are available to serve the development type and
scope. If additional residential or office uses are pursued for the building, utilities
can be up-sized.
(7) Whether the rezoning is consistent with the stated purpose of the
proposed zoning district(s);
Staff Response: The PF zone district is appropriate for the Lot’s intended uses. The
Public Facilities district “is intended to provide sites for public uses such as
community centers, police and fire stations, and governmental facilities.” Staff and
PZC carefully analyzed the TC zone district; however, the PF district fit best with the
planned uses.
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 6
(8) That, compared to the existing zoning, the rezoning is not likely to result
in adverse impacts upon the natural environment, including air, water, noise,
stormwater management, wildlife, and vegetation, or such impacts will be
substantially mitigated;
Staff Response: Staff does not anticipate any adverse impacts upon the natural
environment, compared to the existing zoning (office/retail).
(9) That, compared to the existing zoning, the rezoning is not likely to result
in significant adverse impacts upon other property in the vicinity of the subject
tract;
Staff Response: No significant impacts to other properties in the vicinity are
envisioned with a PF land use designation. All of the neighboring properties are
aware of the proposed rezoning and intended use of the property; some
neighboring property owners intend to perform additional improvements to create
additional vibrancy in the area.
(10) For rezoning within an existing PUD, consistency with the relevant PUD
Master Plan as reflected in the approval of the applicable PUD; and,
Staff Response: The rezoning would supersede and void the existing PUD
Development Plan documents.
(11) Adequate mitigation is required for zoning amendment applications
which result in greater intensity of land use or increased demands on public
facilities and infrastructure.
Staff Response: The intensity of use is comparable to existing zoning and possible
uses of the property.
ATTACHMENTS
Exhibit A: Ordinance 2016-19
Exhibit B: PZC Record of Decision
Ordinance 2016-19 | Lot 4 Mountain Vista Subdivision | Rezoning from PUD to PF 7
TOWN OF AVON, COLORADO
ORDINANCE NO. 16-19
REZONING LOT 4, MOUNTAIN VISTA RESORT SUBDIVISION, AVON, COLORADO, FROM PLANNED UNIT DEVELOPMENT TO PUBLIC FACILITIES
WHEREAS, the Town of Avon (“Town”) is a home rule municipal corporation and body politic organized under the laws of the State of Colorado and possessing the maximum powers,
authority and privileges to which it is entitled under Colorado law; and
WHEREAS, the Town of Avon (“Applicant”) submitted an application to rezone Lot 4,
Mountain Vista Resort Subdivision, Avon, Colorado (“Property”) from Planned Unit
Development to Public Facilities zone district; and
WHEREAS, according to the Avon Municipal Code (“AMC”) §7.20.080(c), the PF district
is intended to provide sites for public uses such as community centers, police and fire stations
and governmental facilities; and
WHEREAS, the Town’s Planning & Zoning Commission (“PZC”), after publishing and
posting notice as required by law, held a public hearing on October 4, 2016; and prior to formulating a recommendation to the Town Council considered all comments, testimony,
evidence and Town Staff reports; and then took action to adopt Findings of Fact and a Record of
Decision on October 18, 2016, in accordance with AMC §7.16.020(f), making a
recommendation to the Town Council to approve the Application; and
WHEREAS, the Town Council of the Town of Avon, after publishing and posting notice in accordance with the requirements of AMC §7.16.020(d), Step 4: Notice, held a public hearing
November 15, 2016, and prior to taking final action considered all comments, testimony,
evidence and Town Staff reports; and then took action by approving this Ordinance; and
WHEREAS, in accordance with AMC §7.12.020, Town Council, and in addition to other
authority granted by the Town Charter, its ordinances or State of Colorado law, the Town Council has application review and decision-making authority to approve, approve with
conditions or deny the Application; and
WHEREAS, pursuant to AMC §7.16.050(c), Review Criteria, the Town Council has
considered the applicable review criteria for rezoning and finds that the criteria are met in
accordance with the town staff report, and in accordance with the Findings of Fact; and
WHEREAS, the Property is located adjacent to property owned by the Town of Avon which
is currently zoned PF district and the Property is intended for use as a Town Hall, government
facilities, and accessory land uses; and
Ord 16-14 Rezoning Lot 4, Mountain Vista Resort Subdivision to Public Facility FIRST READING – October 25, 2016 Page 1 of 4
Exhibit A
WHEREAS, the Town Council finds that the rezoning from Planned Unit Development to
the Public Facilities district will promote the Avon Comprehensive Plan for District 1, promote
uniformity of zoning regulations in the Town Core area, and will thereby promote the health,
safety and welfare of the Avon community; and
WHEREAS, approval of this Ordinance on First Reading is intended only to confirm the
Town Council desires to comply with the requirements of the Avon Home Rule Charter by
setting a Public Hearing in order to provide the public an opportunity to present testimony and
evidence regarding the application, and that approval of this Ordinance on First Reading does not
constitute a representation that the Town Council, or any member of the Town Council, supports, approves, rejects, or denies this Ordinance.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. Recitals Incorporated. The above and foregoing recitals are incorporated herein by reference and adopted as findings and determinations of the Town Council.
Section 2. Rezoning. Lots 4, Mountain Vista Resort Subdivision, Avon, Colorado, is hereby
rezoned from Planned Unit Development to the Public Facilities district.
Section 3. Severability. If any provision of this Ordinance, or the application of such
provision to any person or circumstance, is for any reason held to be invalid, such invalidity shall not affect other provisions or applications of this Ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this Ordinance are declared
to be severable. The Town Council hereby declares that it has passed this Ordinance and each
provision thereof, even though any one of the provisions might be declared unconstitutional or
invalid. As used in this Section, the term “provision” means and includes any part, division, subdivision, section, subsection, sentence, clause or phrase; the term “application” means and includes an application of an ordinance or any part thereof, whether considered or construed
alone or together with another ordinance or ordinances, or part thereof, of the Town.
Section 4. Effective Date. This Ordinance shall in no event take effect sooner than thirty (30) days after final adoption in accordance with Section 6.4 of the Avon Home Rule Charter.
Section 5. Safety Clause. The Town Council hereby finds, determines and declares this
Ordinance is promulgated under the general police power of the Town of Avon, that it is
promulgated for the health, safety and welfare of the public and this Ordinance is necessary for the preservation of health and safety and for the protection of pubic convenience and welfare.
The Town Council further determines that the Ordinance bears a rational relation to the proper
legislative object sought to be obtained.
Section 6. No Existing Violation Affected. Nothing in this Ordinance shall be construed to release, extinguish, alter, modify, or change in whole or in part any penalty, liability or right or
affect any audit, suit, or proceeding pending in any court, or any rights acquired, or liability
Ord 16-14 Rezoning Lot 4, Mountain Vista Resort Subdivision to Public Facility FIRST READING – October 25, 2016 Page 2 of 4
Exhibit A
incurred, or any cause or causes of action acquired or existing which may have been incurred or
obtained under any ordinance or provision hereby repealed or amended by this Ordinance. Any
such ordinance or provision thereof so amended, repealed, or superseded by this Ordinance shall
be treated and held as remaining in force for the purpose of sustaining any and all proper actions, suits, proceedings and prosecutions, for the enforcement of such penalty, liability, or right, and
for the purpose of sustaining any judgment, decree or order which can or may be rendered,
entered, or made in such actions, suits or proceedings, or prosecutions imposing, inflicting, or
declaring such penalty or liability or enforcing such right, and shall be treated and held as
remaining in force for the purpose of sustaining any and all proceedings, actions, hearings, and appeals pending before any court or administrative tribunal.
Section 7. Correction of Errors. Town Staff is authorized to insert proper dates, references
to recording information and make similar changes, and to correct any typographical,
grammatical, cross-reference, or other errors which may be discovered in any documents associated with this Ordinance and documents approved by this Ordinance provided that such corrections do not change the substantive terms and provisions of such documents.
Section 8. Publication. The Town Clerk is ordered to publish this Ordinance in accordance
with Chapter 1.16 of the Avon Municipal Code. [EXECUTION PAGE FOLLOWS]
Ord 16-14 Rezoning Lot 4, Mountain Vista Resort Subdivision to Public Facility FIRST READING – October 25, 2016 Page 3 of 4
Exhibit A
INTRODUCED AND ADOPTED ON FIRST READING AND REFERRED TO PUBLIC
HEARING on October 25, 2016 and setting such public hearing for November 15, 2016 at the
Council Chambers of the Avon Municipal Building, located at One Lake Street, Avon, Colorado.
BY: ATTEST:
____________________________ ____________________________
Jennie Fancher, Mayor Debbie Hoppe, Town Clerk
ADOPTED ON SECOND AND FINAL READING on November 15, 2016.
BY: ATTEST:
____________________________ ____________________________
Jennie Fancher, Mayor Debbie Hoppe, Town Clerk
APPROVED AS TO FORM:
____________________________
Eric J. Heil, Town Attorney
Ord 16-14 Rezoning Lot 4, Mountain Vista Resort Subdivision to Public Facility FIRST READING – October 25, 2016 Page 4 of 4
Exhibit A
E
x
h
i
b
i
t
B
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Matt Pielsticker, Planning Director
Jane Burden, Transit Director
Gary Padilla, Public Works Director
Greg Daly, Police Chief
Preston Neill, Executive Assistant to the Town Manager
Virginia Egger, Town Manager
Meeting Date: October 25, 2016 Work Session
Agenda Topic: Review of 2016/17 Winter Parking Management Plan Options
Council Action
Direction on 2016/17 Winter Parking Management Plan Options
Background
Council requested a plan in response to the new parking fees, which will be implemented by Beaver
Creek Resort at the Elk and Bear lots, in November 2016. The Resort will charge $10 per vehicle to
park at the Elk and Bear lots directly across from the Town on Highway 6, from 6am – 1pm, with free
parking offered after 1pm. Increased pressure on free public parking in Avon is anticipated with the
change, as skiers and others who have been using the Beaver Creek Resort lots would see free public
parking in Avon as a positive alternative. For skiers, Avon’s Skier Shuttle provides a viable alternative
to mountain access.
After consulting with Desmond Design Management and various key Town staff and stakeholders in
July, staff presented options to Council during a work session on August 9, 2016, ranging from “do
nothing” to a full managed parking plan with enforcement by License Plate Reader (LPR)
technology.
After considering public comments and the options, Council directed staff to pursue employee
parking solutions including the Pier 1 Lot, as well as prioritizing local Avon residents if at all possible.
Council did not support the purchase of License Plate Reader (LPR) technology, nor any type of paid
permit system.
Proposed 2016/17 Winter Parking Management Plan Options
After further evaluation and discussion with various property managers, staff requests Council
consideration and direction on the following 2016/17 Parking Management Plan Options listed below.
All parking spaces would be restricted to no overnight parking from midnight to 6:00 a.m. for
snowplowing. The North Lot along West Beaver Creek Boulevard will remain as posted for park use.
2016/17 Winter Parking Management Plan Options Page 2 of 5
Option 1 – No changes to Unlimited Parking as Currently Signed and Enforced
• Over the past year, parking in Avon’s core has been predominantly without any limitation
on the number of hours a vehicle utilizes a parking space.
• This parking plan has greatly increased the use of spaces that were consistently open, did
not result in any traffic congestion looking for spaces or indicated that a space could not
be found
• The concern with a do nothing option is that use will change as a result of the Beaver
Creek paid lots
• While not impossible, it will be difficult to implement a different parking system mid-
season
Option 2 – Winter Parking Managed by Use – Current Town-owned Street and Public Lots
1. Employee Parking
Library/Fire Employees - 24 spaces between the Recreation Center and back of
Fire Station would be signed and enforced for employees of these two entities at
all times. The Library and Fire District are supportive of the number and location
of these spaces.
In addition, 25 on-street parking spaces on Mikaela Way adjacent to the
Library would remain short term parking for patrons of the library only.
This plan fully satisfies Library and Fire Station needs.
Tract A (Pier One Town Lot)
This Town owned lot is governed by the Parking Maintenance Agreement
between the Town and Traer Creek. Under the Agreement, the Town sets
the short term parking hours and enforces the parking. Traer Creek
maintains the lot, including snowplowing and striping.
Town staff met with Traer Creek and representatives of Sun & Ski to
evaluate how best to manage the Tract A parking of 143 spaces. It was
determined that parking turnover and availability for local businesses
would be honored.
Parking permits would be granted to Pier One and Sun & Ski employees
for shift parking; and, for any employees for a business opening in Office
Depot.
The remainder of the Tract A lot will be 2 hour parking, with no parking
midnight to 6:00 a.m.; towing will occur during those hours for
snowplowing. Ticketing will be enforced during all other hours.
Other Employee Parking – It is observed that employees park today on Lake
Street, Benchmark Road across from the Fire Station and on West Beaver Creek
Boulevard for a total of 75 parking spaces. It is also observed that these spaces
are used by skiers, fishing and path walking users. In addition, it is believed that
employees also park in the New Town Hall lot (36 spaces), for a total of 109
spaces.
The proposed plan for this winter is to make 89 spaces available solely for
employee parking, for Avon core businesses, with 53 spaces located in
the eastern portion of the Recreation Center and 36 spaces in the New
Town Hall lot.
The exclusive use for employees would be from 6:00 a.m. to 1:00 p.m.
2016/17 Winter Parking Management Plan Options Page 3 of 5
Employers would need to acquire a permit at a nominal administration
charge ($15); first come, first served, up to five per employer, with a total
of 150 permits distributed. These would be transferrable by the
employer.
After 1:00 p.m., any employee or any other user may park in these spaces,
with unlimited times.
Enforcement is simplified by having the employees, with permits, all
located in these two lots.
2. Commercial Core Parking - East
As noted above, commercial parking in the Tract A lot will be for the benefit of
those adjacent businesses’ customers.
20 on-street spaces on Benchmark Road East would remain marked 2-hour, as
signed.
Tracts B1 and B2 in Chapel Place Square, are privately owned lots, and will
continue to be used for merchants in the Square and enforced by Traer Creek and
HCRE.
3. Commercial Core Parking - West
• 24 on-street spaces on West Beaver Creek Boulevard would be changed to 2-hour
parking throughout the day. Turnover in this area is observed and expected with
local use of the tenant business in the Sheraton, Avon Center, and some use by
Post Office patrons.
• Avon Local’s Pass - In an effort to accommodate Avon residents with priority
parking options, various Town owned parking areas would be open exclusively
to residential pass holders until 1pm; unrestricted after 1pm, for the following
areas:
14 spaces on Benchmark Road (Monday – Sunday)
39 spaces on Lake Street (Monday – Sunday)
86 spaces at Municipal Building West and East Lot (Saturday and Sunday
Only)
Town would issue an unlimited number of Avon resident passes. In order
to qualify for a pass, a resident would supply a utility bill or other form of
identification validating a physical address in Town. It is anticipated that
this parking supply may be adequate to accommodate Avon residents for
this ski season or for early day access to area businesses and/or
Nottingham Park. It is recommended a nominal fee of $10 be charged for
each permit; nontransferable, and assigned to a license plate.
Option 3 – New Private Parking Lots
Town Council is asked to determine whether other parking spaces should be included for this
winter’s ski season. Options available are:
1. Rodeo South Lot - This has recently been offered generously by Traer Creek as a possible
parking area for next winter, without charge. An estimated 200 vehicles can be parked
there. In turn, the Town would be responsible for all management aspects of this area.
This lot is envisioned as an Avon Local’s Pass lot, with limited hours (i.e. no vehicles
admitted before 7am or after 1pm) to accommodate additional skier parking demand in
addition to other Town facilities listed above. In order to ensure that this lot remains a
2016/17 Winter Parking Management Plan Options Page 4 of 5
viable option in the future months if needed, plow operations would need to commence
at the start of the ski season regardless of using the lot or not. The current Skier Shuttle
loop time would increase by five minutes to pick up riders from the Lot.
2. Traer Creek Plaza Parking Facility - 200 covered spaces. This facility, privately owned and
maintained, is an unrestricted public parking lot, and includes public parking spaces
underneath the Traer Creek Plaza building. No parking is allowed from midnight until
6:00 a.m. If utilization of this lot were to be pursued as an alternative to the Rodeo South
Lot, a skier/employee shuttle with frequency would be essential because the existing bus
route frequency is 30 minutes.
Estimated Costs – Option 2
New signage: Constructed and installed prior to November 25, 2016. $ 2,600.00
Enforcement: Part-time Community Service Officer: January – March $ 7,200.00
A temporary part-time officer is already budgeted through December
Permit Design & Printing $ 800.00
Marketing of the Parking System $ 1,000.00
TOTAL $11,600.00
Additional Skier Bus Shuttle, if needed – Monies in 2017 budget ($50,000)
---------------------------------------------------------------
Estimated Costs – Option 3
Rodeo South Lot
Snowplowing Contract November – March $17,500.00
Parking Personnel Estimate – one person $15,750.00
TOTAL $33,250.00
Expand current bus loop for no additional costs; Additional Skier Bus Shuttle, if needed – Monies in
2017 budget ($50,000)
Traer Creek Plaza Parking Lot
Expanded Bus Service TOTAL $35,911.00
2016/17 Winter Season Traer Creek Route
Winter Winter Winter Loop Winter Annual
Route Op Hrs. Frequency # Buses Time Serv. Hr. Cost
Traer Creek 7:30 am-10:30 am 15 Min 1 15 Min 441 $35,911
Traer Creek Covered Parking to Avon Station Loop – 7 day a
week service for the winter season November 20, 2016
through April 16, 2017.
2016/17 Winter Parking Management Plan Options Page 5 of 5
Direction Requested and Next Steps
1. Council finalization of Winter Parking Management Plan – October 25th
2. Marketing - Public Outreach Program (Liz Wood, Town of Avon Communications Manager)
3. Formalize Employer and Local Pass permit system and implementation
(Preston Neill, Assistant to the Town Manager)
4. Installation of regulatory signage by November 25, 2016 (Gary Padilla, Public Works Director)
5. Commence enforcement program – warnings to tickets (Greg Daly, Chief of Police)
6. Data collection through the winter
7. Summary of winter program to Council – May 1, 2017
Attachment
Exhibit 1 – 2016/17 Winter Parking Management Map
P
Mi
k
a
e
l
a
W
a
y
Comfort Inn
Sun Road
Riverfront Lane
P
Gondola
PUBLIC ACCESS Eagle River Trail
Eagle River To The Landing
at Beaver Creek
To I-70
To
Eagle River
Trail
HWY 6 & 24 TO EDWARDS
VILLAGE ROAD
TO
BEAVER CREEK RESORT
P
Eagle River Trail
P
All Day Parking
P
Parking Zones
P
Library Parking
HWY 6 & 24- TO EAGLE-VAIL
INTERSTATE 70
M
i
k
a
e
l
a
W
a
y
P
West Beaver C
r
e
e
k
B
l
v
d
.
E. Benchmark Road
P
Eagle River
Yode
r
A
v
e
Chapel Place
E.
B
e
a
v
e
r
C
r
e
e
k
B
l
v
d
< 0.
8
M
I
L
E
>
Po
s
t
B
l
v
d
To I-70
Pos
t
B
l
v
d
East Beaver Creek Blvd
< 1 MILE >
PP
P
P
P
P
P
P
P
P
P
P
P
P
Eaglebend Drive Hurd Lane
On Street Parking
P
Lot
P
P
Main Street Mall
P
Fire/Library
Employee Parking
P
Lot
Employee Permit
Parking
P
Lot
Possibilities Plaza
2 Hour Parking
On Street Parking
P
Lot
P P
Avon
Station
P
P
Lot
2016/ 2017 Winter Parking Management Plan
Municipal Use M-F;
Resident S-Su
P
Lot
Avon Resident
Parking
On Street Parking
P
Rec Center
Parking
P
Lot
P
Lot
1st Bank
Walgreens
Lodge at
Avon Center
100 W. Beaver
Creek Blvd US Bank
Slifer Center
30 Benchmark Rd
Westin Riverfront Resort
126 Riverfront Ln
Christie Lodge
47 E Beaver Creek Blvd
Wyndham
75 Benchmark Rd
White River
Center
90 Benchmark Rd
Community
Banks Center
70 Benchmark Rd
The Boat Building
City Market
Starbucks Coffee
Chapel Square
Shopping & Dining
Boxcar Restaurant
Pier 1 Imports
Annex
Center
Avon
Plaza
Benchmark
Center
Beaver
Liquor
Burger King Nottingham Station
-Starbucks, GNC, Avon Bakery, Simply Massage
North
Court American
Nat'l Bank
Wells
Fargo
Bank
Home Depot
& Wal Mart
Traer Creek Plaza
Urgent Care
Westin Mountain Villas
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Preston Neill, Executive Assistant to the Town Manager
Date: October 25, 2016
Agenda Topic: Review of Summer 2016 Food Truck and Mobile Vendor Cart Programs
OVERVIEW:
The purpose of this memorandum is to report on both the Town’s Food Truck Program and Mobile
Vendor Cart Program and seek direction for continuation, amendment or cessation of the program
SUMMARY:
Food Truck Program
On May 10, 2016, Council approved Ordinance 16-07, allowing food trucks to operate on Town right-of-
ways, and subsequently approved Resolution 16-17, which established locations and number of food
trucks allowed to operate within the Town. More specifically, Council approved that one (1) food
truck, at any given time, is allowed to operate on any one location near Harry A. Nottingham Park
(Nottingham Park) and authorized the Town Manager to identify and test locations near the park,
including but not limited to the following sites:
• Location #1: The parking lot on north side of Nottingham Park.
• Location #2: The two northerly parking spaces in the parking lot located on the east side of the
Municipal Building.
• Location #3: The northwest corner of the parking lot located on the north side of the
Recreation Center.
Council wished for any issued food truck permits to be monitored as a test case through October 1,
2016.
On May 20, 2016, Town staff released a Request for Proposal (RFP), soliciting proposals from qualified
entrepreneurs and businesses to own and operate a food truck in areas located around Nottingham
Park. Since the RFP was released, several vendors have contacted the Town to express their interest in
obtaining a Food Truck Permit. However, the Town has received one (1) proposal and issued one (1)
Food Truck Permit. The vendor, Rocky Mountain Taco, began utilizing the permit on July 1, 2016.
Between July 1 and October 1, 2016, Rocky Mountain Taco operated in sites around Nottingham Park
for a total of sixteen (16) days.
Since the end of the pilot program, Town staff has obtained feedback from Chris McGinnis, owner of
Rocky Mountain Taco, in order to gain input on how the Town can improve the program and
understand how they rate their overall success while operating in locations around Nottingham Park
over the summer. Chris explained that sales were much lower than expected, but he attributed that to
several days of bad weather. He went on to say that the only location they liked operating at was
location #1, as stated above, due to the fact that it is close to the lake. Finally, he expressed his interest
in continuing to participate in the program next summer and said that he would love to see the
“creation of a winter permit.” He offered his thought that Avon Station would be a perfect spot for
their food truck to operate during the winter months.
Mobile Vendor Cart Program
On April 12, 2016, Council approved Resolution 16-08, establishing locations and number of mobile
vendor carts in Nottingham Park. The Resolution states that up to two (2) mobile vendor carts are
allowed in Nottingham Park. In addition, the exact location may be generally modified within a
reasonable distance from the locations identified below, by the Town Manager, as may be determined
to accommodate the operations of the cart and/or seasonal light and weather. The locations are as
follows:
• Location #1: North side of park, near pedestrian bridge at northwest corner of the lake.
• Location #2: North side of park, on the east side of the fishing pier, near the water’s edge.
On April 20, 2016, the Town released an updated RFP for mobile vendor carts in order to announce
available vending locations at Nottingham Park. Over the summer of 2016, two (2) vendors contacted
the Town to express interest in obtaining a Mobile Vendor Cart Permit. Only one (1) vendor, Peace
Love and Popsicles, LLC, submitted a proposal and was issued a permit. By the end of June 2016, Peace
Love and Popsicles, LLC, relinquished their Mobile Vendor Cart Permit for reasons that included how
the logistics of hauling a mobile vendor cart in and out of Nottingham Park on a daily basis proved to
be difficult for them. At this time, there are no vendors with a Mobile Vendor Cart Permit.
DIRECTION:
Staff is requesting direction from Council on how to proceed with these programs.
IGA – Eagle County Housing and Development Authority
Page 1 of 1
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Scott Wright, Asst. Town Manager
Date: October 25, 2016
Re: IGA – Eagle County Housing and Development Authority
Action Before Council
Action on Intergovernmental Agreement (IGA) between the Town of Avon and the Eagle County Housing and Development Authority (ECHDA).
Recommended Motion
This item is included under the Consent Agenda. If acted upon separately, the recommended
motion is “I move to approve the Intergovernmental Agreement between the Town of Avon and the Eagle County Housing and Development Authority.”
Summary
This agreement provides for affordable housing services to be performed for the Town of Avon,
by the ECHDA, through its Valley Home Store, a centralized housing management organization, for the calendar year 2017. This agreement is renewable annually for additional one-year terms
and may be terminated by either party upon 30 days prior written notice.
As the Town’s agent, ECHDA shall enforce the Town’s deed restrictions and ordinances relating
to deed restrictions and affordable housing. Specific services to be provided include assisting buyers, sellers and lenders in resale of Town deed restricted housing stock, ensuring ongoing
compliance with deed restrictions, and serving as a resource to the Town and its citizens and
potential new residents regarding the Town’s affordable housing programs.
Eric Heil, Avon Town Attorney, and Jill Klosterman, Housing Director for Eagle County, have reviewed and approved the language of the IGA.
ATTACHMENTS:
Intergovernmental Agreement
EXHIBIT A – Scope of Services and Fees EXHIBIT B – Town of Avon Deed Restrictions
ECHDA-Town of Avon IGA, October 25, 2016 Page 1 of 8
INTERGOVERNMENTAL AGREEMENT BETWEEN EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY
AND THE TOWN OF AVON
This Intergovernmental Agreement (“Agreement”) is made and entered into on
November 1, 2016 by and between Eagle County Housing and Development Authority, a body
corporate and politic (“ECHDA”) and the Town of Avon, a Colorado home-rule municipal
corporation (“Town”).
WITNESSETH
WHEREAS, the Town has a portfolio of deed restricted housing units described in
Exhibit B: Avon Housing Deed Restrictions attached hereto and incorporated by reference
(“Deed Restriction(s)”); and
WHEREAS, the median price of free market housing in the Town of Avon exceeds what
residents earning the area median income can afford, creating a lack of housing affordable for the
local workforce of the Town; and
WHEREAS, the Urban Land Institute recommended forming a regional housing body to
address the lack of affordable housing with participation from public and private sectors
throughout Eagle County; and
WHEREAS, ECHDA, in a multi-jurisdictional effort, has opened a centralized affordable housing management organization known as The Valley Home Store (“TVHS”) to provide one
physical and electronic location in Eagle County to purchase housing stock affordable to Eagle
County’s workforce; and
WHEREAS, The Valley Home Store was formed by the Eagle County Housing and Development Authority in 2008 and ECHDA is the majority member of TVHS with 99.9%
ownership (Eagle County Housing and Development Authority and The Valley Home Store may
collectively be referred to as “ECHDA/TVHS”); and
WHEREAS, the Town desires to contract with ECHDA for the performance of the affordable housing services on the terms and conditions in this Agreement; and
WHEREAS, ECHDA is agreeable to rendering such affordable housing services on the
terms and conditions hereinafter set forth; and
WHEREAS, this Agreement is authorized pursuant to Section 29-1-201 and 30-11-101,
Colorado Revised Statutes, as amended, and Article XIV, Section 18, of the Colorado
Constitution.
ECHDA-Town of Avon IGA, October 25, 2016 Page 2 of 8
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants, conditions and promises
contained herein, the parties hereto agree hereby as follows:
1. Services or Work. ECHDA agrees to diligently provide all services, labor, personnel
and materials necessary to perform and complete the services or work described in Exhibit A:
Services (“Services”) which is attached hereto and incorporated herein by reference. The
Services shall be performed in accordance with the provisions and conditions of this Agreement. In the event of any conflict or inconsistency between the terms and conditions set forth in
Exhibit A and the terms and conditions set forth in this Agreement, the terms and conditions set
forth in this Agreement shall prevail. The Town may modify Exhibit B: Avon Housing Deed
Restrictions at any time and the amended Exhibit B shall become part of this Agreement when
provided to ECHDA.
2. Term of the Agreement. This Agreement shall commence January 1, 2017, and shall
continue in full force and effect through December 31, 2017.
3. Extension. Town and ECHDA may mutually renew and extend the Agreement for
additional one-year terms. Such renewal and extension shall occur by Town sending via e-mail a
renewal request (“Renewal Request”) to ECHDA. ECHDA may accept the Renewal Request via e-mail. Any other change or modification to the Agreement shall be in writing signed by
each party. The Avon Town Manager may approve Renewal Requests and rate adjustments on
behalf of the Town.
4. Termination. Either party shall have the right to terminate this Agreement at any time
and for any reason, with or without cause, and without penalty, by giving the other party thirty (30) days’ prior written notice of termination. In the event that a party fails to substantially perform the duties and obligations set forth in this Agreement, the other party may terminate this
Agreement upon seven (7) days written notice to the non-performing party, unless the non-
performing party cures the breach within the seven (7) day remedy period. Upon termination,
ECHDA shall be entitled to compensation for Services performed prior to such termination, and both parties shall thereafter be relieved of any and all duties and obligations under this Agreement.
5. Compensation. Town shall compensate ECHDA for the performance of the Services in
a sum computed and payable as set forth in Exhibit A. Payment will be made for Services
satisfactorily performed within thirty (30) days’ of receipt of a proper and accurate invoice from ECHDA. All invoices shall include detail regarding the hours spent, tasks performed, who
performed each task and such other detail as Town may request.
6. Official Status. For the purpose of performing the Services and functions set forth in
this Agreement, Eagle County Housing and Development Authority and The Valley Home Store
shall enforce, as the Town’s agent, the terms of any Deed Restrictions and any Town ordinances relating to Deed Restrictions or affordable housing now in effect and as may be amended from
time to time.
ECHDA-Town of Avon IGA, October 25, 2016 Page 3 of 8
7. Enforcement. ECHDA/TVHS shall promptly notify the Town of the following: (1) any
action to enforce the terms of a Deed Restriction; (2) ECHDA/TVHS’s receipt of notification or
knowledge of a foreclosure on property with a Deed Restriction; (3) any evidence of non-
compliance with a Deed Restriction; or (4) any dispute concerning the interpretation and application of the terms of a Deed Restriction. In the event of any legal or court action
concerning a Deed Restriction, ECHDA/TVHS and the Town shall coordinate as deemed
appropriate by the Town. The Town shall always maintain the right to interpret, enforce, protect,
defend or modify any Deed Restriction in the Town’s sole discretion.
8. Records Management. ECHDA and TVHS agree the following terms for records management and access:
a. ECHDA and TVHS shall provide access to records created or maintained by ECHDA or
TVHS upon request by the Town within a reasonable time.
b. ECHDA/TVHS shall follow the Town of Avon’s municipal records retention schedule
for all records maintained by ECHDA/TVHS.
c. ECHDA/TVHS and Town shall promptly notify each other of the receipt of any public
records requests under the Colorado Open Records Act. The parties shall coordinate the
response to any public records request concerning this Agreement or any records created or
maintained under this Agreement.
d. Upon termination or expiration of this Agreement, ECHDA/TVHS shall deliver to the Town all records held, created and maintained by this Agreement within seven (7) business
days.
9. Personnel. ECHDA and TVHS and their respective staff shall have full cooperation
from the Town and its employees, so as to facilitate the performance of this Agreement.
a. All persons employed in the performance of such Services for the Town, pursuant to this Agreement, shall be employees of Eagle County Government. Staff working at TVHS are licensed real estate agents in the State of Colorado. The Valley Home Store is a licensed real
estate brokerage company.
b. It is expressly acknowledged and understood by the parties hereto that nothing contained
in this Agreement shall result in, or be construed as establishing an employment relationship between the parties. The rendition of the Services provided for herein, the standards of performance, the discipline of staff, and other matters incident to the performance of such
Services and the control of personnel so employed, shall remain with ECHDA.
10. Liability and Insurance. ECHDA and The Valley Home Store, their officers and
employees, shall not be deemed to assume any liability for intentional or negligent acts, errors, or omissions of the Town or of any officer or employee thereof. Likewise, the Town, its officers
and employees, shall not be deemed to assume any liability for intentional or negligent acts,
errors or omissions of ECHDA or by any officer or employee thereof.
ECHDA-Town of Avon IGA, October 25, 2016 Page 4 of 8
a. ECHDA agrees to indemnify, defend and hold harmless, to the extent allowed by law, the
Town, its respective agents, officers, servants and employees of and from any and all loss,
costs, damage, injury, liability, claims, liens, demands, action and causes of action
whatsoever, arising out of or related to ECHDA's intentional or negligent acts, errors or omissions or that of its agents, officers, servants, and employees, whether contractual or
otherwise. Likewise, the Town agrees to indemnify, defend and hold harmless, to the extent
allowed by law, ECHDA and The Valley Home Store, their respective agents, officers,
servants and employees of and from any and all loss, costs, damage, injury, liability, claims,
liens, demands, action and causes of action whatsoever arising out of or related to the Town's intentional or negligent acts errors or omissions or that of its agents officers, servants and
employees, whether contractual or otherwise.
b. ECHDA and the Town shall respectively provide its own public liability, property
damage, and errors and omissions insurance coverage as each party may deem adequate and
necessary for any potential liability arising from this Agreement. Further, ECHDA and the Town, respectively, shall name, subject to the approval of each respective party’s insurance
carriers, the other respective party as a co-insured under such insurance policies to the extent
of any potential liability arising under this Agreement and, upon reasonable written request,
shall furnish evidence of the same to the other respective party.
11. General Provisions.
a. Notices. All notices, requests, consents, approvals, written instructions, reports or other
communication by the Town and ECHDA, under this Agreement, shall be in writing and
shall be deemed to have been given or served, if mailed by certified mail, postage prepaid, or
e-mailed with confirmation of receipt by the recipient, or hand delivered to the parties as
follows:
ECHDA:
Attention: Jill Klosterman
500 Broadway
Post Office Box 850
Eagle, CO 81631
Telephone: 970-328-8773
Facsimile: 970-328-8787
E-mail: jill.klosterman@eaglecounty.us
With a copy to:
Eagle County Attorney
500 Broadway
Post Office Box 850
Eagle, CO 81631
Telephone: 970-328-8685
Facsimile: 970-328-8699
ECHDA-Town of Avon IGA, October 25, 2016 Page 5 of 8
E-mail: atty@eaglecounty.us
TOWN: with a copy to:
Town of Avon: Town of Avon Town Manager Town Attorney Post Office Box 975 P.O. Box 975
Avon, CO 81620 Avon, CO 81620
Telephone: 970-748-4452 E-Mail: townattorney@avon.org
Facsimile: 970-748-4417
E-mail: vegger@avon.org
Either party may change the address to which notices, requests, consents, approvals,
written instructions, reports or other communications are to be given by a notice of change of
address given in the manner set forth in this paragraph.
b. No Third Party Beneficiaries. Nothing contained in this Agreement is intended to or shall create a contractual relationship with, cause of action in favor of, or claim for relief for,
any third party, including any agent, sub-consultant or sub-contractor of Customer.
Absolutely no third party beneficiaries are intended by this Agreement. Any third-party
receiving a benefit from this Agreement is an incidental and unintended beneficiary only.
c. Modification. This Agreement contains the entire agreement between the parties, and no agreement shall be effective to change, modify, or terminate in whole or in part unless such
agreement is in writing and duly signed by the party against whom enforcement of such
change, modification, or termination is sought.
d. Entire Agreement. This written Agreement embodies the whole agreement between the parties hereto and there are no inducements, promises, terms, conditions, or obligations made or entered into either by ECHDA or the Town other than those contained herein.
e. Assignment. This Agreement shall be binding upon the parties hereto, their successors
or assigns and may not be assigned by anyone without the prior written consent of the other
respective party hereto. Any attempt to assign this Agreement without the consent of the other party shall be null and void.
f. Severability. All agreements and covenants herein are severable, and in the event that
any of them shall be held invalid by a court of competent jurisdiction, this Agreement shall
be interpreted as if such invalid Agreement or covenant were not contained herein.
g. Representation of Authority. The Town has represented to ECHDA and, likewise, ECHDA has represented to the Town, that it possesses the legal ability to enter into this Agreement. In the event that a court of competent jurisdiction determines that either of the
parties hereto did not possess the legal ability to enter into this Agreement, this Agreement
shall be considered null and void as of the date of such Court determination.
h. No Waiver of Governmental Immunity. Nothing in this Agreement shall be construed to waive, limit, or otherwise modify any governmental immunity that may be available by
ECHDA-Town of Avon IGA, October 25, 2016 Page 6 of 8
law to the Avon, its officials, employees, contractors, or agents, or any other person acting on
behalf of the Avon and, in particular, governmental immunity afforded or available pursuant
to the Colorado Governmental Immunity Act, Title 24, Article 10, Part 1 of the Colorado
Revised Statutes.
i. Law and Venue. This Agreement shall be governed by and construed in accordance
with the laws of the State of Colorado. The parties agree that venue in any action to enforce
or interpret this Agreement shall be in the District Court for Eagle County, Colorado.
j. Article X, Section 20/TABOR. The Parties understand and acknowledge that the Town
is subject to Article X, §20 of the Colorado Constitution (“TABOR”). Town does not intend to violate the terms and requirements of TABOR by the execution of this Agreement. It is understood and agreed that this Agreement does not create a multi-fiscal year direct or
indirect debt or obligation within the meaning of TABOR and, therefore, notwithstanding
anything in this Agreement to the contrary, all obligations of Town are expressly dependent
and conditioned upon the continuing availability of funds beyond the term of Town’s current fiscal period ending upon the next succeeding December 31. Financial obligations of Town payable after the current fiscal year are contingent upon funds for that purpose being
appropriated, budgeted, and otherwise made available in accordance with the rules,
regulations, and resolutions of Town, and other applicable law. Upon the failure to
appropriate such funds, this Agreement shall be terminated.
[REST OF PAGE INTENTIONALLY LEFT BLANK]
ECHDA-Town of Avon IGA, October 25, 2016 Page 7 of 8
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and
year first set forth above.
EAGLE COUNTY HOUSING AND
DEVELOPMENT AUTHORITY
By: _____________________________
Jeanne McQueeney, Chair
Attest:
By: ________________________________
Teak J. Simonton, Clerk
TOWN OF AVON
By:__________________________________
Mayor
Attest:
By: __________________________________________
Town Clerk
ECHDA-Town of Avon IGA, October 25, 2016 Page 8 of 8
EXHIBIT A
SCOPE OF SERVICES AND FEES
The following services will be provided to the Town by ECHDA/TVHS:
1. Qualifications for the resales of the Town’s deed restricted housing stock. a. ECHDA/TVHS will assist sellers, buyers, lenders, and appraisers through the
process.
b. ECHDA/TVHS will calculate maximum resale prices for sellers, including
calculation of capital improvements.
c. ECHDA/TVHS will qualify buyers. d. ECHDA/TVHS will prepare and provide required deed restricted documentation
for closings.
e. Compensation for this service will be $250 for each unit listed for sale either on
the MLS or by other means. The fee will be paid by the Town to ECHDA/TVHS.
2. Employee Housing Unit Compliance.
a. Send up to 3 requests for affidavits and compile responses.
b. Provide list of outstanding affidavits to Town by a mutually agreed upon date.
c. Town will maintain responsibility for enforcement.
d. Mailing costs, if any, will be reimbursed by Town. e. Compensation for this service will be paid by the Town to ECHDA/TVHS on an
hourly basis not to exceed $7,800 per calendar year. The not-to-exceed amount is
based on 120 hours of work at $65/hour.
3. ECHDA/TVHS will serve as a resource to Town and consumers regarding the Town’s affordable housing program.
a. Communicate Town’s information on TVHS website, and provide a link to the
TVHS website from the Town’s website.
b. Provide at least one in-person first-time homebuyer education course to be held in
Avon. c. Provide one in-person homebuyer education course for Town of Avon employees.
d. Provide individual credit counseling or budgeting sessions to buyers or owners of
Town units or down payment assistance programs.
e. Attend work sessions with Town Council as requested and recommend best practices. f. Compensation for this service will be paid by the Town to ECHDA/TVHS on an
hourly basis not to exceed $2,600 per calendar year. This not-to-exceed amount
is based on 40 hours of work at $65/hour.
1
EXHIBIT B TOWN OF AVON DEED RESTRICTED HOUSING
PROJECT NAME UNIT BED BATH
AREA
(sq. ft.) RENTAL PARCELNUM
NO. OF
UNITS
LODGE AT BROOKSIDE 113 1 2 967 N 210511205013 0
LODGE AT BROOKSIDE 211 1 2 719 N 210511205025 0
LODGE AT BROOKSIDE 311 1 2 872 N 210511205038 0
CHAPEL SQUARE (BLDG B) 204 1 1 630 N 210512116020 0
CHAPEL SQUARE (BLDG B) 206 1 1 584 N 210512116022 0
CHAPEL SQUARE (BLDG B) 216 1 1 581 N 210512116031 0
CHAPEL SQUARE (BLDG B) 218 1 1 626 N 210512116033 0
CHAPEL SQUARE (BLDG B) 304 1 1 630 N 210512116052 0
CHAPEL SQUARE (BLDG B) 306 1 1 584 N 210512116054 0
CHAPEL SQUARE (BLDG B) 316 1 1 581 N 210512116063 0
CHAPEL SQUARE (BLDG B) 318 1 1 626 N 210512116065 0
MOUNTAIN VISTA EMPLOYEE HOUSING E201 3 1 849 N 210512222001 0
MOUNTAIN VISTA EMPLOYEE HOUSING E202 2 1 497 Y 210512222002 0
MOUNTAIN VISTA EMPLOYEE HOUSING E203 1 1 405 N 210512222003 0
MOUNTAIN VISTA EMPLOYEE HOUSING E204 1 1 405 Y 210512222004 0
MOUNTAIN VISTA EMPLOYEE HOUSING E205 1 1 405 Y 210512222005 0
MOUNTAIN VISTA EMPLOYEE HOUSING E206 1 1 405 Y 210512222006 0
MOUNTAIN VISTA EMPLOYEE HOUSING E207 0 1 222 Y 210512222007 0
MOUNTAIN VISTA EMPLOYEE HOUSING E208 0 1 230 Y 210512222008 0
MOUNTAIN VISTA EMPLOYEE HOUSING E209 0 1 230 Y 210512222009 0
MOUNTAIN VISTA EMPLOYEE HOUSING E210 0 1 230 N 210512222010 0
MOUNTAIN VISTA EMPLOYEE HOUSING E301 3 1 807 N 210512222011 0
MOUNTAIN VISTA EMPLOYEE HOUSING E302 2 1 495 Y 210512222012 0
MOUNTAIN VISTA EMPLOYEE HOUSING E303 1 1 405 N 210512222013 0
MOUNTAIN VISTA EMPLOYEE HOUSING E304 1 1 405 Y 210512222014 0
MOUNTAIN VISTA EMPLOYEE HOUSING E305 1 1 405 Y 210512222015 0
MOUNTAIN VISTA EMPLOYEE HOUSING E306 1 1 405 Y 210512222016 0
MOUNTAIN VISTA EMPLOYEE HOUSING E307 0 1 222 N 210512222017 0
MOUNTAIN VISTA EMPLOYEE HOUSING E308 0 1 230 N 210512222018 0
MOUNTAIN VISTA EMPLOYEE HOUSING E309 0 1 230 Y 210512222019 0
MOUNTAIN VISTA EMPLOYEE HOUSING E310 0 1 230 N 210512222020 0
LAKESIDE TERRACE CONDOMINIUMS B204 1 1 541 Y 210512217015 0
LAKESIDE TERRACE CONDOMINIUMS B205 2 1 645 Y 210512217016 0
WILDWOOD TOWNHOMES NORTH C1 3 2 1,266 N 194335412001 0
WILDWOOD TOWNHOMES NORTH C2 2 1 1,020 N 194335412002 0
WILDWOOD TOWNHOMES NORTH C3 2 1 1,020 N 194335412003 0
WILDWOOD TOWNHOMES NORTH C4 2 1 1,020 N 194335412004 0
WILDWOOD TOWNHOMES NORTH C5 3 2 1,266 N 194335412005 0
WILDWOOD TOWNHOMES SOUTH A1 3 2 1,266 N 194335411001 0
WILDWOOD TOWNHOMES SOUTH A2 2 1 1,020 N 194335411002 0
WILDWOOD TOWNHOMES SOUTH A3 2 1 1,020 N 194335411003 0
WILDWOOD TOWNHOMES SOUTH A4 2 1 1,020 N 194335411004 0
WILDWOOD TOWNHOMES SOUTH A5 2 1 1,020 N 194335411005 0
WILDWOOD TOWNHOMES SOUTH A6 3 2 1,266 N 194335411006 0
2
WILDWOOD TOWNHOMES SOUTH B1 3 2 1,266 N 194335411007 0
WILDWOOD TOWNHOMES SOUTH B2 2 1 1,020 N 194335411008 0
WILDWOOD TOWNHOMES SOUTH B3 2 1 1,020 N 194335411009 0
WILDWOOD TOWNHOMES SOUTH B4 2 1 1,020 N 194335411010 0
WILDWOOD TOWNHOMES SOUTH B5 2 1 1,020 N 194335411011 0
WILDWOOD TOWNHOMES SOUTH B6 3 2 1,266 N 194335411012 0
GRANDVIEW 101 1 1 715 Y 210502415001 0
GRANDVIEW 102 2 2 870 N 210502415002 0
GRANDVIEW 103 2 2 823 N 210502415003 0
GRANDVIEW 104 2 2 870 N 210502415004 0
GRANDVIEW 105 2 2 823 N 210502415005 0
GRANDVIEW 106 2 2 1,002 N 210502415006 0
GRANDVIEW 201 1 1 576 Y 210502415007 0
GRANDVIEW 202 2 2 870 N 210502415008 0
GRANDVIEW 203 2 2 870 N 210502415009 0
GRANDVIEW 204 2 2 870 N 210502415010 0
GRANDVIEW 205 2 2 870 N 210502415011 0
GRANDVIEW 206 2 2 864 N 210502415012 0
CITY MARKET 0 0 0 Y 210512102023 14
BUFFALO RIDGE 0 0 0 Y 210307202001 244
EAGLEBEND APARTMENTS 0 0 0 Y 210512406015 294
RIVERSIDE APARTMENTS 0 0 0 Y 210512407002 54
FALCON POINTE CONDO INTERVAL 504 1 1 659 Y 210512211045 1
GANDORF D 3 2 1,491 N 194335431004 0
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Jane Burden, Transit Director Meeting Date: October 25, 2016
Agenda Topic: Intergovernmental Agreement with the Colorado Department of Transportation
for a Five Year Lease To Store One or More Bustang Buses in the Avon Regional Transit Facility
ACTION BEFORE COUNCIL
Authorize the Town Manager to enter into a five (5) year intergovernmental lease agreement,
renewable yearly, with CDOT for Bustang bus parking at the Transit Facility located at 500 Swift
Gulch Road in Avon, Colorado.
PROPOSED MOTION
I move to approve the authorization for the Town Manager to execute an Intergovernmental
Agreement with the Colorado Department of Transportation for a five year lease, renewable yearly,
to store one or more Bustang buses in the Avon Regional Transit Facility, subject to final approval by
the Avon Town Attorney.
2017 BUDGET INFORMATION
The Town will receive a base monthly payment of five hundred eighty seven dollars ($587.00) for a
total payment of seven thousand forty-four dollars ($7,044.00) for fiscal year 2017, for the storage of
one bus. The charge amount is equal to what ECO Transit pays to the Town for similar sized buses.
The proposed additional four years, with CDOT, will be at the same base rate unless increased based
upon annual actual costs, as determined by the ECO transit lease calculation, and subject to CDOT’s
annual approval. The multi-year lease would be annually renewable. At this time only one bus is
foreseen to join the facility, but the agreement will be constructed in a manner to add additional
buses, space being available, at the same per space lease amount.
BACKGROUND
As a member of the Bustang Rural Regional Committee, staff was approached in August by Mike
Timlin of CDOT to provide overnight parking for a second bus added to CDOT’s intrastate daily
Bustang service to Denver. This public transportation service has become popular and provides an
economical ($29 round trip) connection between our rural mountain communities and Denver.
Bustang yearly driver accommodations are being provided by the Avon Comfort Inn.
Town Attorney Eric Heil has reviewed the CDOT contract, which is extensive and appears to be an
agreement which can be improved and simplified, with time, by Eric working with CDOT. This will
take some time, however, once completed the objective is to execute the agreement and not hold it
up for a future meeting.
We welcome the opportunity to provide joint transportation services with CDOT for our valley
residents/guests and welcome them to the Avon Regional Transit Facility.
TOWN OF AVON, COLORADO
AVON MEETING MINUTES FOR TUESDAY, OCTOBER 11, 2016
AVON TOWN HALL, ONE LAKE STREET
FINAL - Avon Council Meeting 10-11-2016 Minutes.doc Page 1
1. A CALL TO ORDER & ROLL CALL
Mayor Fancher called the meeting to order at 5:12 p.m. A roll call was taken and Council members
present were Megan Burch, Buz Reynolds, Matt Gennett, Jake Wolf and Scott Prince. Sarah Smith
Hymes was absent. Also present were Town Manager Virginia Egger, Police Chief Greg Daly, Assistant
Town Manager Scott Wright, Public Works Director Gary Padilla, Recreation Director John Curutchet,
Transit Director Jane Burden, Town Engineer Justin Hildreth, Executive Assistant to the Town Manager
Preston Neill and Town Clerk Debbie Hoppe.
2. APPROVAL OF AGENDA
Mayor Fancher requested the following changes to the agenda:
1. Item 5.1. Public Access TV Channel 5 update moved to 6:30 p.m. or continued to the next council
meeting on October 25, 2016.
2. Executive Session for the purpose of receiving Legal Advice under C.R.S. §24-6-402(2)(b) and to
Determine Positions Relative to Matters that may be Subject to Negotiations, Developing
Strategy For Negotiations, and/or Instructing Negotiators, under C.R.S. §24-6-402(2)(e)
Concerning Eaglebend Affordable Housing to take place during the regular meeting.
Council agreed to the changes.
3. PROCLAMATION HONORING THE SERVICE OF ALBERT “BUZ” REYNOLDS (MAYOR JENNIE FANCHER)
4. PUBLIC COMMENT
Jackie Anthony commented.
5. PRESENTATIONS
START TIME: 00:39:49
5.1. PUBLIC ACCESS TV CHANNEL 5 UPDATE (HFAM PRESIDENT AMY PHILLIPS & EXECUTIVE DIRECTOR JK PERRY)
5.2. BALLOT ISSUE 1A: AFFORDABLE WORKFORCE HOUSING (CHRIS ROMER, VAIL VALLEY PARTNERSHIP)
6. ACTION ITEMS
START TIME: 00:49:50
6.1 RESOLUTION 16-25, IN SUPPORT OF OPEN SPACE, RIVERS, WILDLIFE & TRAILS BALLOT ISSUE 1B
(TRAILS REPRESENTATIVE)
Councilor Reynolds moved to approve Resolution 16-25, A Resolution of the Avon Town Council of
Avon, Colorado, in Support of Open Space, Rivers, Wildlife & Trails Ballot Issue 1B; Councilor Prince
seconded the motion and it passed unanimously by those present. Councilor Smith Hymes was
absent.
6.2. NOTICE OF AWARD FOR NOTTINGHAM PARK RESTROOM REMODEL PROJECT TO HESS CONTRACTING
(TOWN ENGINEER JUSTIN HILDRETH)
Council did not take action and requested staff to rebid the Nottingham Park Restroom
Remodel Project.
TOWN OF AVON, COLORADO
AVON MEETING MINUTES FOR TUESDAY, OCTOBER 11, 2016
AVON TOWN HALL, ONE LAKE STREET
FINAL - Avon Council Meeting 10-11-2016 Minutes.doc Page 2
6.3.APPROVAL OF THE SEPTEMBER 27, 2016 MINUTES (TOWN CLERK DEBBIE HOPPE)
Councilor Reynolds moved to approve the September 27, 2016 Minutes; Councilor Gennett seconded
the motion and it passed unanimously by those present. Councilor Smith Hymes was absent.
7. WRITTEN REPORTS
8. COMMITTEE MEETING UPDATES: COUNCILORS AND MAYOR
9. MAYOR & COUNCIL COMMENTS
10. TOWN MANAGER UPDATE
11. EXECUTIVE SESSION
11.1. EXECUTIVE SESSION FOR THE PURPOSE OF RECEIVING LEGAL ADVICE UNDER C.R.S. §24-6-402(2)(B) AND TO
DETERMINE POSITIONS RELATIVE TO MATTERS THAT MAY BE SUBJECT TO NEGOTIATIONS, DEVELOPING
STRATEGY FOR NEGOTIATIONS, AND/OR INSTRUCTING NEGOTIATORS, UNDER C.R.S. §24-6-402(2)(E)
CONCERNING EAGLEBEND AFFORDABLE HOUSING
12. ADJOURNMENT
There being no further business to come before the Council, the regular meeting adjourned at 07:26 p.m.
RESPECTFULLY SUBMITTED:
______________________________________________
Debbie Hoppe, Town Clerk
APPROVED:
Jennie Fancher ________________________________
Jake Wolf ________________________________
Matt Gennett ________________________________
Megan Burch ________________________________
Albert “Buz” Reynolds ________________________________
Scott Prince ________________________________
Sarah Smith Hymes ________________________________
FISCAL YEAR 2016
FINANCIAL REPORT
October 25, 2016
______________________________________________________________________________________
1. Fiscal Year 2016 Financial Report Cover Memo
2. Sales and Accommodations Tax Reports – August 2016
3. Real Estate Transfer Tax Report and Monthly Detail – September 2016
4. Recreation Center Admissions – September 2016
5. General Fund Year-To-Date Expenditures - September 2016
6. Fleet Maintenance Fund Year-To Date Expenditures - September 2016
7. Transit Fund Year-To Date Expenditures - September 2016
TOWN COUNCIL REPORT
To: Honorable Mayor Jennie Fancher and Avon Town Council
From: Kelly Huitt, Budget Analyst Meeting Date: October 25, 2016
Agenda
Topic: Fiscal Year 2016 Financial Report –August / September
SUMMARY
Revenues
SALES TAX
• Sales tax revenue for the month of September is up $20,732 or 3.62% compared to August 2015,
but down -2.04% compared to the monthly budget. This year-over-year increase includes $21,077
from new businesses, and after adjusting for new business growth, -.06% is the loss in revenue
from existing business for the month. Year to date sales tax collections are up 7.16% compared to
2015 and 5.03% compared to the budget.
• August sales tax collections show considerable increases for the Home/Garden category at
15.08%, Accommodations at 16.62%, and Service Related businesses which increased 39.29%
compared to August 2015. Miscellaneous Retail declined -16.01% for the month and, as
anticipated, the Sporting Goods Retail/Rental category is down -57.05%. The decrease in existing
business growth from Miscellaneous Retail can be partially attributed to the re-categorization of
two entities. Home/Garden saw a large increase from floor covering sales while sales tax from
Accommodations had a large jump from overall increases at the Town’s major lodges. The
increase from Service Related vendors is due to new businesses in the category. The large
decrease in the Sporting Goods category is related to the closing of Sports Authority.
2015/2016 Growth Growth
Variance Existing Business New Business
Home/Garden 7,753.74 9.90%5.18%
Grocery, Specialty, Health 14,140.05 5.85%3.16%
Liquor Stores (1,177.96)-4.05%0.00%
Sporting Goods Retail/Rental (22,736.18) -63.11%6.06%
Miscellaneous Retail (4,616.77) -16.01%0.00%
Accommodations 12,761.70 15.92%0.70%
Restaurants/Bars 7,974.97 1.18%5.28%
Other 2,748.16 0.91%3.95%
Service Related 3,883.79 21.63%17.66%
Total $20,731.50 -0.06%3.68%
Category
Sales Tax Monthly Totals - August 2016
ACCOMMODATIONS TAX
• Accommodations tax revenue for August is up $12,566, or 16.73% compared to August 2015, and
up 8.34% compared to the monthly budget.
• August 2016 accommodations tax collections increased 19.45% for Hotels, 5.08% for Timeshares
and 24.81% for Vacation Rentals compared to August 2015.
• A portion of the increase to August accommodations tax from Vacation Rentals can be attributed
to increased compliance efforts.
REAL ESTATE TRANSFER TAX
• 2016 real estate transfer tax collections for September equal $321,958, which is a $30,734
increase compared to September 2015.
• Year-to-date RETT collections are on track at 92.85% of the 2016 annual budget.
• $30,382 of September RETT is from August sales at the Wyndham. A total of $198,510 in RETT
has been received from the Wyndham in 2016.
RECREATION CENTER ADMISSIONS
• September admissions fees at the ARC total $49,018, a 9.61% increase compared to September
2015. Year-to-date admissions are 9.33% above 2015, and $70,270 over the estimated annual
budget.
Expenditures
• General Fund expenditures through September 2016 total 73.66% of the 2016 annual budget.
These expenditures include the Town’s annual insurance premium, $366,438 toward signature
event seed funding, $197,750 spent for community grants, as well as a large encumbrance for
the Town Attorney.
• Fleet expenditures for September are at 60.66% of the total budget. These costs include blanket
encumbrances for stock parts and ongoing expenditures such as regularly purchased shop
supplies and monthly copier charges.
• Transit funds are 61.56% expended compared to the 2016 budget. These expenditures include a
$135,000 expenditure for the 2015 people mover bus purchase, as well as $176,000 for the
Town’s half of the 2016 gondola operations.
TOWN OF AVON
SALES TAX
2016 Actual vs. Budget
Budget YTD Collections Budget % of change
2011 2012 2013 2014 2015 2016 2016 Variance from 2015
January 511,040.76$ 519,784.89$ 677,943.78$ 638,863.27$ 765,195.68$ 754,412$ 743,689.78$ (10,722.17)$ -2.81%
February 532,903.25 533,546.48 636,702.27 673,722.03 788,999.06 767,268 774,754.00 7,486.36 -1.81%
March 665,532.70 643,910.29 720,267.31 793,301.96 875,499.53 896,356 945,795.71 49,440.00 8.03%
April 305,269.73 304,220.84 307,407.13 381,839.56 403,560.42 412,562 438,198.18 25,636.50 8.58%
May 236,424.93 270,082.79 309,938.72 340,332.28 353,840.11 366,107 404,872.55 38,765.35 14.42%
June 406,828.27 430,588.57 490,329.18 538,517.31 570,424.51 590,545 693,675.00 103,129.62 21.61%
July 452,873.44 472,215.40 537,479.66 570,959.86 601,516.82 638,618 690,342.23 51,723.80 14.77%
August 419,977.29 455,439.86 504,332.25 547,085.80 572,647.57 605,764 593,379.07 (12,385.03) 3.62%
September 391,546.49 424,793.75 475,362.88 546,016.59 595,235.68 589,641
October 299,193.35 341,711.43 356,925.96 417,921.46 423,701.53 445,802
November 301,407.41 336,060.63 362,460.94 397,935.36 438,315.55 445,009
December 921,815.61 852,868.64 981,917.79 1,221,263.98 1,159,160.45 1,244,988
Total 5,444,813.23$ 5,585,223.57$ 6,361,067.87$ 7,067,759.46$ 7,548,096.91$ 7,757,072$ 5,284,706.52$ 253,074.43$ 7.16%
Actual Collections
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
2012 2013 2014 2015 2016
Year
Sales Tax Collections for August
TOWN OF AVON
SALES TAX
2016 Actual vs. Budget
$2,000,000
$2,400,000
$2,800,000
$3,200,000
$3,600,000
$4,000,000
$4,400,000
$4,800,000
$5,200,000
2012 2013 2014 2015 2016
YTD Sales Tax Comparison January - August
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
Sales Tax Monthly Comparison 2014-2016
2014
2015
2016
TOWN OF AVON
ACCOMMODATIONS TAX
2016 Actual vs. Budget
Budget YTD Collections Budget % change
2011 2012 2013 2014 2015 2016 2016 Variance 2015
January 85,233.73$ 90,118.88$ 108,508.43$ 129,851.78$ 164,361.04$ 144,277$ 168,424.63$ 24,147.30$ 2.47%
February 114,035.90 106,016.32 137,503.61 150,317.06 175,056.31 170,447 185,370.53 14,923.11 5.89%
March 122,145.16 115,043.42 153,208.80 168,597.39 183,650.29 185,351 217,387.54 32,036.06 18.37%
April 26,214.58 20,786.24 26,494.49 31,626.02 34,825.13 34,928 60,916.55 25,988.31 74.92%
May 15,152.82 16,664.44 24,527.17 21,961.97 28,002.56 26,533 37,357.48 10,824.59 33.41%
June 49,999.66 56,012.17 66,578.91 54,232.23 53,397.46 69,938 73,591.08 3,652.86 37.82%
July 62,928.07 66,726.73 73,008.92 81,083.01 86,301.22 92,358 107,595.18 15,237.56 24.67%
August 52,037.55 58,358.93 67,688.07 71,044.33 75,107.71 80,924 87,674.05 6,750.16 16.73%
September 35,521.81 42,245.24 44,661.37 50,840.16 60,417.74 58,324
October 21,801.56 25,879.51 27,154.53 34,977.59 38,706.72 37,068
November 24,971.33 22,786.42 28,171.04 32,064.02 34,328.47 35,521
December 135,984.00 112,759.02 131,361.43 168,944.85 198,421.26 186,556
Total 746,026.17$ 733,397.32$ 888,866.77$ 995,540.41$ 1,132,575.91$ 1,122,226$ 938,317.04$ 133,559.95$ 17.19%
Actual Collections
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
2012 2013 2014 2015 2016
Accommodations Tax Collections for August
Town of Avon
Real Estate Transfer Tax
2016 Actual vs. Budget
Budget YTD Collections $ Change % of Change
2011 2012 2013 2014 2015 2016 2016 2015 2015
January 57,540.00$ 50,204.00$ 22,535.00$ 85,126.74$ 48,640.40$ 50,308$ 64,422.00$ 15,781.60$ 32.45%
February 230,705.50 41,750.07 55,872.69 562,219.70 85,479.08 185,960 200,850.86 115,371.78 134.97%
March 187,099.47 84,760.49 125,927.64 50,375.06 168,744.22 117,537 265,061.65 96,317.43 57.08%
April 249,482.30 219,195.80 144,437.80 197,656.36 125,266.30 178,341 159,046.06 33,779.76 26.97%
May 187,668.62 270,170.12 121,784.12 183,745.60 237,971.08 190,782 184,987.10 (52,983.98)-22.26%
June 49,606.58 169,040.47 90,309.74 220,009.15 294,434.84 156,880 307,127.24 12,692.40 4.31%
July 46,707.37 71,057.40 386,434.78 141,051.52 396,838.68 198,546 259,977.94 (136,860.74) -34.49%
August 106,785.21 232,505.93 97,579.70 154,032.32 152,380.93 141,616 186,483.40 34,102.47 22.38%
September 140,876.56 96,389.34 157,010.67 267,886.92 291,223.61 181,646 321,957.68 30,734.07 10.55%
October 64,005.33 176,889.62 169,839.80 178,044.24 172,855.22 145,112
November 98,057.44 150,549.86 112,491.82 122,582.66 169,328.38 124,416
December 198,448.03 145,134.57 83,382.60 1,598,062.92 225,862.90 428,856
Total 1,616,982.41$ 1,707,647.67$ 1,567,606.36$ 3,760,793.19$ 2,369,025.64$ 2,100,000$ 1,949,913.93$ 148,934.79$ 8.27%
Budget 2,100,000.00
Variance, Favorable (Unfavorable)(150,086.07)$
Actual Collections
$-
$200,000.00
$400,000.00
$600,000.00
$800,000.00
$1,000,000.00
$1,200,000.00
$1,400,000.00
$1,600,000.00
$1,800,000.00
$2,000,000.00
2012 2013 2014 2015 2016
YTD Real Estate Transfer Tax Collections
TOWN OF AVON
RECREATION CENTER ADMISSION FEES
2016 Actual vs. Budget
Budget YTD Collections Budget % of change
2011 2012 2013 2014 2015 2016 2016 Variance from 2015
January 76,386$ 66,113$ 70,040$ 62,607$ 64,723$ 67,526$ 74,674$ 7,148$ 15.37%
February 72,997 78,782 68,578 63,838 68,506 70,075 86,342 16,267 26.04%
March 78,985 62,670 72,616 77,902 81,664 74,275 76,023 1,748 -6.91%
April 59,991 49,982 64,370 61,760 55,452 57,927 67,398 9,471 21.54%
May 47,368 44,880 35,064 43,119 50,067 43,809 54,337 10,528 8.53%
June 49,850 49,442 46,194 55,052 58,431 51,452 58,044 6,592 -0.66%
July 70,839 73,067 71,491 61,472 66,400 68,201 65,874 (2,328) -0.79%
August 68,324 67,510 57,329 63,233 66,389 64,131 76,558 12,427 15.32%
September 40,822 38,141 43,829 36,846 44,719 40,602 49,018 8,416 9.61%
October 52,476 41,588 48,803 75,818 61,167 55,602
November 93,746 94,044 93,822 29,570 71,384 76,009
December 80,985 72,059 69,258 77,672 112,201 81,892
Total 792,769$ 738,277$ 741,394$ 708,889$ 801,102$ 751,500$ 608,268$ 70,270$ 9.33%
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
2012 2013 2014 2015 2016
YTD Recreation Center Admissions
Dept./Div.2016 Encumbrances Year To Date Available
Number Description Budget Outstanding Expenditures Balance YTD/Budget
General Government:
111 Mayor and Town Council 211,907$ 11$ 158,791$ 53,105$ 74.94%
112 Boards and Commissions 15,300 - 8,115 7,185 53.04%
113 Town Attorney 130,000 40,567 88,458 975 99.25%
115 Town Clerk 158,811 10,436 98,378 49,997 68.52%
121 Municipal Court 124,826 3,011 70,534 51,281 58.92%
131 Town Manager 367,267 - 260,116 107,151 70.82%
133 Community Relations 149,897 3,457 78,462 67,978 54.65%
Total General Government 1,158,008 57,482 762,854 337,672 70.84%
Human Resources Department:
132 Human Resources 412,319 3,864 297,979 110,476 73.21%
Finance & IT Department:
141 Finance 819,334 9,640 579,473 230,221 71.90%
143 Information Systems 388,494 14,224 277,440 96,830 75.08%
149 Nondepartmental 401,231 27,205 350,516 23,510 94.14%
Total Finance & IT 1,609,059 51,069 1,207,429 350,561 78.21%
Total General Gov't Departments 3,179,386 112,415 2,268,262 798,709 74.88%
Community Development:
212 Planning 317,767 19,914 135,557 162,296 48.93%
213 Building Inspection 146,758 3,350 99,333 44,075 69.97%
214 Economic Development 65,600 - 36,955 28,645 56.33%
215 Town Produced Events 335,502 9,551 254,365 71,586 78.66%
216 Signature Event Seed Funding 400,000 - 366,438 33,562 91.61%
217 Community Grants 230,150 - 197,750 32,400 85.92%
Total Community Development 1,495,777 32,815 1,090,398 372,564 75.09%
Police Department:
311 Administration 658,759 15,277 400,805 242,677 63.16%
312 Patrol 2,331,166 26,865 1,756,917 547,384 76.52%
313 Investigations 263,742 73 181,869 81,800 68.98%
Total Police 3,253,667 42,215 2,339,591 871,861 73.20%
Public Works:
412 Engineering 273,664 1,910 191,703 80,051 70.75%
413 Roads and Bridges 1,612,864 93,633 1,042,174 477,057 70.42%
415 Parks 1,133,005 62,625 746,536 323,844 71.42%
418 Buildings & Facilities 1,124,910 58,972 787,115 278,823 75.21%
Total Public Works 4,144,443 217,140 2,767,528 1,159,775 72.02%
Recreation Department:
514 Administration 245,396 6,004 176,898 62,494 74.53%
515 Adult Programs 58,827 - 38,339 20,488 65.17%
516 Aquatics 427,447 4,782 310,558 112,107 73.77%
518 Fitness 132,740 - 116,120 16,620 87.48%
519 Guest Services 292,090 3,613 210,266 78,211 73.22%
521 Youth Programs 132,412 1,061 105,158 26,193 80.22%
Total Recreation 1,288,912 15,460 957,339 316,113 75.47%
TOTAL OPERATING EXPENDITURES 13,362,185$ 420,045$ 9,423,118$ 3,519,022 73.66%
Department Expenditure Summaries
General Fund
September 2016 Expenditures to Date
Dept./Div.2016 Encumbrances Year To Date Available
Number Description Budget Outstanding Expenditures Balance YTD/Budget
EXPENDITURES
Public Works:
434 Fleet Maintenance 1,817,945$ 35,454$ 1,067,306$ 715,185$ 60.66%
Total Operating Expenditures 1,817,945 35,454 1,067,306 715,185 60.66%
TOTAL EXPENDITURES 1,817,945$ 35,454$ 1,067,306$ 715,185$ 60.66%
Expenditure Summary
Fleet Maintenance Enterprise Fund September 2016 Expenditures to Date
Dept./Div.2016 Encumbrances Year To Date Available
Number Description Budget Outstanding Expenditures Balance YTD/Budget
EXPENDITURES
431 Transit Administration 240,052$ 20,878$ 171,691$ 47,483$ 80.22%
432 Transit Operations 1,684,207 2,265 1,005,630 676,312 59.84%
435 Wash Bay 159,486 6,212 76,127 77,147 51.63%
Total Operating Expenditures 2,083,745 29,355 1,253,448 800,942 61.56%
TOTAL EXPENDITURES 2,083,745$ 29,355$ 1,253,448$ 800,942$ 61.56%
Expenditure Summary
Transit Enterprise Fund September 2016 Expenditures to Date