Loading...
TC Minutes 04-23-2002• • MINUTES OF THE REGULAR MEETING OF THE TOWN COUNCIL HELD APRIL 23, 2002 A regular meeting of the Town- of Avon, Colorado was.h'eld in the Municipal Building, 400 Benchmark Road; Avon, Colorado in the Council Chamber's Mayor Judy Yoder called the meeting to~ordei at 5:30,PM. A roll call was taken with. Councilors Debbie Buckley, Peter Buckley, Rick Cuny, Mac McDevitt, and Mayor Protem Buz Reynolds present. Absent was Councilor Michael Brown. Also present were Town Manager Bill Efting, Assistant Town Manager Larry Brooks; Town Attorney Johri Dunn, Town Clerk Patty McKenny, Human Resource Director Jacquie Halbumt, Town Engineer Norm Wood, Recreation Director Meryl Jacobs, Public Works Director Bob Reed, Transit,.Director Harry Taylor, Comm. Dev. Director Ruth Borne, as well as`niembers of the press acid public. Citizen Input Rick Sackbauer was present to provide an overview of the services provided by Eagle River Water Sanitation District. An upcoming tax levy increase is proposed for the May election and he wanted to provide information to the. Council and general public about the ballot' question. Mr. Sackbauer read into the record the Deed 'of Easement entered into between ERWSD and the Town of Avon. Mayor Judy Yoder presented awards to the following employees of Avon for their extra efforts spent on their job: ■ Police Officer Steve Hodges, Police ■ Gary,Padila, Public Works LeRoy Roybal, Public Works ■ Ed Ying, Transit ■ Stacy Mays, Human Resources Ordinances Town Attorney John Dunn presented Ordinance No. 02-06 referring to it as housekeeping in nature. It was drafted to address the tax credit issue with regard to the Village at Avon. Councilor Reynolds moved to approve Ordinance No. 02-06, Series 2002 on first reading, an Ordinance Amending Title 3 of the Municipal Code of the Town of Avon relating to Tax Credits within the Village (At Avon). McDevitt seconded the motion and it passed unanimously by the members present (Brown absent). Town Attorney John Dunn presented Ordinance No. 02-07, Series 2002 referring to it as another housekeeping ordinance. It was written to replace an old application form for exemptions from the real estate'transfer tax and its current form was streamlined to create a more efficient form. Councilor Reynolds moved to approve Ordinance No. 02-07 on first reading, an Ordinance amending Chapter 12 of Title 3 of the Municipal Code of: the Town of Avon relating to forms for application for exemptions from the Real Estate Transfer Tax. McDevitt seconded the motion and it passed' unanimously .by the members present (Brown absent). Mayor Yoder noted that a public hearing would be held on each Ordinance at the next regularly scheduled Council meeting on May 14, 2002. Resolutions The Buffalo Ridge Housing project is 244 rental units constructed within 15 buildings. The project, which is being constructed as part of the affordable housing obligation of the Village at Avon is receiving funding and support from a variety of sources. Assitant Town Manager Larry Brooks reminded the Council that Resolutions 02-05 and 02-06 authorize funding for the same project, Buffalo Ridge I & II. Buffalo Ridge Affordable Housing Corporation was created to oversee the 68 units of Buffalo Ridge I Apartments Project and is associated with the issuance of bonds identified in Resolution No. 02-05. This Resolution approves the issuance of 63-20 bonds in an amount up to $10,500,000. The final pricing had not yet occurred on these bonds. Buffalo Ridge II LLLP was created to oversee the 176 units of Buffalo Ridge II Apartments project and is associated with the issuance of bonds identified in Resolution NO. 02-06. This resolution is the pricing resolution for the Private Activity Bonds (PAB) and were previously approved by Ordinance. Since the bonds have already been priced, this resolution served to approve the specific terms of the issuance. The Council was again reminded that these bonds do not result in any pecuniary liability for the Town of Avon. Kim Casey, with Hogan & Hartson, was present to read into the record the two resolutions, provide a review of the transactions, and answer any questions. Councilor R. Buckley noted one last time that the taxpayers of Avon would not make any payments on this debt if Council approved the Resolutions. Ms. Casey responded saying that the debt payments would be made by the revenues generated by the project. Councilor Reynolds moved to approve Resolution No. 02-05, Series 2002, A Resolution Approving the Issuance.By Buffalo Ridge Affordable Housing Corporation 'Of Multifamily Housing Project Revenue Bonds (GNMA Mortgaged-Backed Securities Program) Series 2002, In An Aggregate Principal Amount Of $10,500,000; Authorizing A Project Agreement, A Financing Agreement, A Mortgage And A Mortgage Note; And Authorizing Incidental Action. Councilor D. Buckley seconded the, motion and the Resolution passed unanimously by those members present (Councilor Brown absent). Regular Council Meeting April 23, 2002 Councilor D. Buckley moved to approve Resolution No. 02-06, Series 2002, A Resolution Approving Certain Terms Of $15,650,000 Of The Town's Multifamily Housing Revenue Bonds(GNMA Mortgage-Backed Securities Program - Buffalo Ridge II Apartments Project), Series 2002, Ratifying The Executing And Delivery Of A Bond Purchase Agreement; Authorizing Incidental Action; And Repealing Inconsistent Actions. Councilor McDevitt seconded the motion and the Resolution passed unanimously Town Engineer Norm Wood presented Resolution No.02-20 - a Final Plat and Subdivision Improvement Agreement for the Village (at Avon) Filing 2 'submitted by Buffalo Ridge Affordable Housing Corporation and Traer Creek LLC. The SIA provides for construction for the public improvements required to serve the proposed subdivision and for the provision of securities to assure completion of the improvements. Norm noted several minor changes made to the agreement. A revised copy was distributed that evening. Jeff Spanel, Intermountain Engineering, was present to answer a few questions from Council. Councilor McDevitt moved to approve Resolution No. 02-20, Series 2002, A Resolution approving Final Plat and Subdivision Improvements Agreement for the Village (at Avon) Filing 2, Town of Avon, Eagle County, Colorado. Councilor D. Buckley seconded the motion and the Resolution passed unanimously by all members present (Brown absent). The Council expressed gratitude and appreciation to both Larry Brooks and Norm Wood for all their, concentrated efforts on this project for the Town. Other Business Councilor P. Buckley noted that AT&T Broadband-high speed connection, would be available to Town of Avon and Eagle-Vail residents beginning June 18th. Consent Agenda a) Approval of the April 9, 2002 Council Meeting Minutes Mayor Yoder asked for a motion on the Consent Agenda. Councilor D. Buckley moved to approve the Consent Agenda. Councilor Reynolds seconded the motion. The motion was carried unanimously. There being no further business to come before the Council, Councilor McDevitt motioned to adjourn the meeting. Councilor Brown seconded the' motion. The meeting adjourned at 6 PM. Regular Council Meeting 3 April 23, 2002 • i RESPECTFULLY SUBMITTED: pa-z~y , - ge LQ-~ Pa Bie le- cKenny, Town Cler cU APPROVED: Michael Brown Debbie Buckley Peter Buckley Rick Curly Mac McDevitt Buz Reynolds Judy Yoder s Regular Council Meeting April 23, 2002