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Finance Committee Minutes 2026.04.27FINANCE COMMITTEE MEETING MONDAY, APRIL 27, 2026 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, April 27th, 2026 3 | 3 1. ROLL CALL Present in Person: Committee members John Widerman, Lisa Post and Markian Fedeschuk Present Virtually: Councilor Lindsay Hardy and Committee members Rick Sudekum, Clark Rogers and Gregg Cooper Absent: Councilor Kevin Hyatt and Committee members Cathy Krajicek and Steve Coyer Staff: Chief Financial Officer Paul Redmond, Town Manager Eric Heil, Finance Manager Joel McCracken, Community Development Director Matt Pielsticker and Financial Analyst Chase Simmons The meeting was called to order by Committee Chair John Widerman at 12:02 p.m. 2. APPROVAL OF January 26th, 2026 MINUTES Committee member Clark Rogers moved to approve the minutes. Lisa Post seconded that motion and it passed with the voting committee members present. 3. PUBLIC COMMENT There was no public comment. 4. 2025 Financial Results and 2026 Financial Update (CFO Paul Redmond) Chief Financial Officer Paul Redmond discussed the 2025 financial results. There were no questions from the committee. Paul then discussed 2026 financials and noted sales tax and accommodations tax were down. He also noted the Town may see building permit activity in 2026. Town Manager Eric Heil commented on the 2026 building permits and the 2025 results. The committee noted surprise that sales tax was not down as much as expected and asked what is done with fund balances. Paul and Eric explained the cash is held in ColoTrust. Paul explained Destimetrics and the average summer outlook. The committee expressed concerns about inflation and the macroeconomic outlook. Eric explained the challenge of keeping expenses flat while managing inflation. The committee asked why properties are not participating in Destimetrics. Paul Redmond and Financial Analyst Chase Simmons explained the barriers to participation. AS THIS WAS A PRESENTATION, NO MOTION WAS MADE. 5. Second Budget Amendment (CFO Paul Redmond) Paul Redmond discussed the second budget amendment and reviewed each budget amendment item individually. The committee asked about the Recreation Center project delay. Eric Heil explained the process over the past year, how the project became more expensive than the original estimate, and the next steps for FINANCE COMMITTEE MEETING MONDAY, APRIL 27, 2026 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, April 27th, 2026 3 | 3 selecting a new contractor through a traditional bid process. The committee asked about the rollover of Mi Casa funds. Paul explained there was no change in funds and the item was a rollover. AS THIS WAS A presentation, NO MOTION WAS MADE. 6. Village at Avon Phase 2 and Development Updates Paul Redmond discussed Phase 2 of the Village at Avon development. Eric Heil discussed plans for approximately 60,000 square feet of retail and 200 to 300 housing units, with approximately 100 units potentially deed restricted. Eric also discussed the need for underground parking and the developer’s interest in a financial partnership. Paul presented the financial analysis of the potential commercial space. He noted the DDA would collect approximately $1.6 million annually, the Town of Avon would collect approximately $1.8 million annually, and Traer Creek would collect approximately $9.75 million annually. The committee asked about Phase 1 numbers, and Paul presented those numbers. The committee also asked about the pricing of Skjoll condos and potential public/private partnerships. Eric explained the preliminary numbers and assumptions. Community Development Director Matt Pielsticker introduced himself and discussed development projects from the Community Development perspective. He began with Lot 3 and Lot B. Lot 3, Stonebridge, was originally planned as a hotel and is now proposed as a condotel. The owners have until June to pull a permit or reapply with Town Council. Matt discussed Lot B, which included a $10 million Town contribution, with $6 million for community space and $4 million for community housing units. Eric discussed partnering with Eagle County to bring the deed restriction down to 100% AMI. Matt also discussed the fast timeline of the project. Matt moved on to Hidden Valley Estates as a non-price-capped deed restriction and also discussed Village at Avon Phase 1. The committee asked about the impact increased housing would have on population growth. Eric explained the numbers and discussed the concern of what additional population could cost compared to the revenue additional population could generate. The committee asked for an update on the bathroom project. Eric explained the termination of the original contractor and the next steps with new vendors. 7. ADJOURNMENT COMMITTEE CHAIR JOHN WIDERMAN MOVED TO ADJOURN THE MEETING. Lisa Post SECONDED THAT MOTION AND THE MEETING ADJOURNED at 1:12 P.M. FINANCE COMMITTEE MEETING MONDAY, APRIL 27, 2026 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, April 27th, 2026 3 | 3 Respectfully Submitted by: Chase Simmons, Financial Analyst. These minutes are action minutes and only a summary of the proceedings of the meeting. They are not intended to be comprehensive or to include each statement, person speaking or to portray with complete accuracy.