Loading...
TC Minutes 07-11-2000• 0 MINUTES OF THE REGULAR MEETING OF THE TOWN COUNCIL HELD JULY 11, 2000 A regular meeting of the Town of Avon, Colorado was held in the Municipal Building, 400 Benchmark Road, Avon, Colorado in the Council Chambers. The meeting was called to order by Mayor Judy Yoder at 5:28 PM. A roll call was taken with Councilors Jim Benson, Michael Brown, Debbie Buckley, Rick Cuny, Mac McDevitt and Buz Reynolds. Also present were Town Manager Bill Efting, Town Attorney Burt Levin, Assistant Town Manager Larry Brooks, Deputy Town Clerk Cait Hilmer, Finance Director Scott Wright, Police Chief Jeff Layman, Recreation Director Meryl Jacobs, Town Engineer Norm Wood, Public Works Director Bob Reed, Transportation Director Harry Taylor, Community Development Director Michael Matzko, Engineer Anne Martens, as well as members of the public Mayor Protem Election: Town Attorney Levin explained the procedure for the election of Mayor Protem. Deputy Town Clerk Hilmer distributed the ballots to all Council members. Councilor Cuny nominated Buz Reynolds. Councilor Reynolds nominated Jim Benson. Council placed their vote. Deputy Town Clerk Hilmer tallied the votes and announced that Buz Reynolds is the new Mayor Protem. Real Estate Transfer Tax Appeal, 0288 West Beaver Creek Blvd. (Westlund Investments) Mayor Yoder stated that this appeal was tabled from the June 27 meeting until tonight so that the Council could get additional information. Mr. Thomas McMillen of Professional Exchange, representing Westlund Investments, stated that Westlund Investments did a Reverse 1031 Exchange, paid the transfer tax twice on the same property and they are asking for an exemption from the second application of the transfer tax less the difference for the improvements made to the property. Councilor Buckley motioned that the appeal by the applicant be granted. Councilor McDevitt seconded the motion. The motion carried unanimously. Mayor Yoder thanked Mr. McMillen for his help in clarifying the situation. She also stated that Council will be looking at changing the regulation to accommodate the Reverse 1031 Exchange. Real Estate Transfer Tax Appeal, 2481 Buffalo Head, Wildridge (Whitney Grundtisch) Ms. Whitney Grundtisch was not present. Finance Director Wright stated that Ms. Grundtisch had forwarded a letter to the Council explaining her appeal. Mr. Wright stated that he thought Ms. Grundtisch was going to be present for tonight's meeting. Councilor Benson stated that he would like to hear from Ms. Grundtisch before making a decision. Councilor Curly stated that she did not follow the time table for applying for the exemption. He questioned how long after the closing the application came in. Mr. Wright stated that she closed on the property in August 1999 and we received the application on April 10, 2000. Councilor Cuny confirmed that if the application was received in time, she would have been eligible for the exemption. Mr. Wright confirmed. Mayor Yoder stated that Ms. Grundtisch did sign a document at closing stating that she understood that Avon did not receive the application and that she agreed that she would indemnify Stewart Title because she did not apply. Councilor Buckley pointed out that Ms. Grundtisch was supposed to be at the last meeting and she cancelled, and she has not shown for this meeting. She felt that this has been a nine month process and that we should not continue to wait for her. Councilor Benson asked to move this item to later in the meeting. Councilor Curly stated that he will vote in favor of the appeal, but if Council wants to wait to hear from Ms. Grundtisch that's fine. Mayor Yoder agreed that the Council likes to help people, but they've tried to abide by the law before and have not granted exceptions when the applicant obviously knew what was going on. We've amended the process to make it easier for the applicant. Mr. Wright explained that in 1997 we amended the process to provide that if they file the application prior to the tax being paid, the title company could place the taxes into escrow to allow the applicant time to file the application. Councilor Benson questioned why the title company would draft such a letter for her to sign stating that she does not get her exemption money. Mr. Benson stated that is what he would like answered. Town of Avon Regular Council Meeting July 11, 2000 9 0 Councilor Buckley asked if the Council has denied other appeals for the timing reason. Mr. Wright stated this is his fourth appeal he has heard in his four years with the town. Two appeals were denied and two were granted, two that were granted were after the ordinance was changed. Councilor Reynolds stated that he would like to table this item until Ms. Grundtisch is present. Councilor Buckley stated she is opposed to tabling it since it has taken her nine months to get to this point. Town Attorney Levin said that the code states that if Council does not take action within 30 days of filing the appeal, then the appeal is automatically granted. However, if the applicant is not here and the item is postponed, she is not in a position to complain. Town Manager Efting stated that last meeting she asked for it to be tabled, she has not done so for this meeting. That is where the 30 days could kick in. Councilor McDevitt stated that she should be given until the end of the meeting to show up. Council agreed to table until the end of the meeting. Eagle River Water and Sanitation District Mr. Rick Sackbauer of the Sanitation District approached the Council. He stated that they have a design proposal out to bid for the waste water treatment plant for emergency power in the odor control area. They hope to act on it later this month. He also reported they increased the velocity on the fan that boosts the treated air up and over Avon. Thirdly, he stated they received a call in June of an odor in the basement of the Season's building. He reported that the odor was caused by the basement of the Season's building. Not the waste plant. Mr. Sackbauer stated that he was asked to come before the Council by his Board and ask that the Council further modify the ordinance to allow for acts of God. He asked to allow Council, his Board, and the Staff to get together to discuss wording. Mayor Yoder stated that the Council will consider his request. Sunridge Phase II Mr. Rich Barnes, secretary of the condo association for Sunridge, Phase II, approached the Council. He also introduced other Boardmembers of the association. Mr. Barnes read a statement into the record (see Exhibit A). 3 Town of Avon Regular Council Meeting July 11, 2000 • • Town Engineer Norm Wood stated that Staff did look at the alignment and alternate routes with Sunridge representatives. Mr. Wood explained the other alternatives and why they would not work. He further explained the proposed alignment and the privacy issues, including installing a fence. Councilor Benson questioned who would maintain the fence. Mr. Wood stated that would be for negotiation, as it is not part of the bike path and would be turned back to the property owners. Councilor Buckley questioned when Mr. Wood started to meet with Sunridge. Mr. Wood stated some time last fall. Mr. Wood stated they have been talking with Sunridge for some time to resolve issues. Most of the discussion is that they would like to see the path some where else. Mr. Wood stated Staff does understand that, but that this is the only realistic alignment for the path. Mr. Barnes agreed that they have discussed alternatives several times, but did not get the final alternative until June 20. They feel they are moving in the right direction, but it could go farther. Mr. Barnes stated the fence would not be on Sunridge's property, so it is not their fence. Councilor Benson asked if we are proposing to maintain the bike path. Mr. Wood said that the path would be part of the county system. That issue is still in discussion. Mr. Barnes proposes to move the path over 15 more feet. Mayor Yoder asked if it could be moved. Mr. Wood explained why they are not proposing that move. Mr. Barnes requested that the project be postponed until next year as they are pushing to start the project in August. Mayor Yoder stated that the Town is being pushed to start in August. Town Manager Efting suggested that we have a worksession to work things out. He said if Council wants to keep the August schedule we have to go forward with the condemnation papers. We can drop it at the right time. He said if it is a goal of the Council to get the path in this fall, we must go ahead with this tonight. He said we do have the opportunity to sit down with Norm and Burt and discuss a second appraisal. Council agreed. Town Manager Efting will schedule a meeting and a work session. Ordinances: Second Reading of Ordinance No. 00-07, Series of 2000, An Ordinance Authorizing the Execution and Delivery by the Town of a First Amendment to a Prior Lease Purchase and Sublease Agreement and an Official Statement; Approving the Assignment of the Town's Town of Avon Regular Council Meeting July 11, 2000 4 • 0 Interest in a Contract to Purchase Real Property; Ratifying Action Previously Taken Concerning the Referenced Transactions; and Providing Other Matters Relating Thereto Mayor Yoder stated this is a public hearing. Finance Director Wright introduced Mr. David Bell of Hanifen, Imhoff, who explained the marketing of the bonds. Mr. Bell stated that a Master Lease was created for the eleven units at Sherwood Meadows and the public works facility. He stated that this is separate financing, but the collateral is similar. He stated that MBIA did insure the bonds. He stated that the bonds were marketed last week. Mr. Bell explained a handout (see Exhibit B). There being no further comments from the public, Mayor Yoder closed the public hearing. Councilor Benson motioned approval of Ordinance No. 00-07, Series of 2000. Councilor Buckley seconded the motion. Mayor Yoder asked for a roll call. The motion carried unanimously. Ordinances: First Reading of Ordinance No. 00-08, Series of 2000, An Ordinance Amending Chapter 15.40 of the Avon Municipal Code Relating to Solid Fuel Burning Devices Community Development Director Mike Matzko stated that this ordinance makes changes to the fireplace regulations. The issues being the ability to construct a wood burning fireplace but install the gas logs. Our current regulations prohibit that. This proposed ordinance allows an unlimited number of this type of fireplace above the 7,820 foot level. It makes no changes with regard to any other type of fireplace. Councilor Cuny asked if there were any penalties involved if a person took the fireplace and turned it into a wood burning fireplace. Town Attorney Levin stated that would be in violation of the building code and we could enforce it. Councilor Benson motioned approval of Ordinance No. 00-08, Series of 2000. Councilor McDevitt seconded the motion. Mayor Yoder asked for a roll call. The motion carried unanimously. Town of Avon Regular Council Meeting 5 July 11, 2000 Town Manager Report: Town Manager Efting thanked Staff for their hard work for the community picnic and the July 4 h celebration. He estimated 900-1000 people at the picnic. Mr. Elting stated he will be gone Monday night and Tuesday morning. Mayor Report: Mayor Yoder thanked the Staff for their hard work on the July 4t' celebration and the picnic. She also reminded everyone there will be a town picnic next July. Other Business: Real Estate Transfer Tax Appeal, 2481 Buffalo Head, Wildridge Ms. Whitney Grundtisch approached the Council. Ms. Grundtisch stated that this was a misunderstanding about the transfer tax at the time of closing. She stated that she thought the paperwork was all done and that her realtor did not inform her that she had other business to deal with prior to the closing. She stated that she was called the day after closing and told to come to the town to take care of the transfer tax. Ms. Grundtish explained the events that took place. Mayor Yoder questioned if she paid the tax. Ms Grundtisch said she did not. Council questioned the document she signed indemnifying the title company of the transfer tax. Council discussed the responsibilities of the title companies. Councilor Buckley motioned to grant the appeal of the applicant. Councilor Benson seconded the motion. The motion carried unanimously. Consent Agenda: a.) Approval of the June 27, 2000 Council Meeting Minutes b.) Basketball Court Design Proposal c.) Resolution No. 00-33, Series of 2000, A Resolution Approving and Fixing the Particular Location of a Portion of the West Avon Bike and Pedestrian Trail Councilor Buckley motioned to approve the Consent Agenda. Councilor Benson seconded the motion. The motion carried unanimously. Town of Avon Regular Council Meeting 6 July 11, 2000 0 rI L There being no further business to come before the Council, Councilor Benson motioned to adjourn the meeting. Councilor Buckley seconded the motion. The motion carried unanimously and the meeting adjourned at 6:23 VM. Y SUBMITTED: APPROVED: Jim Benson Michael Brown Debbie Buckley Rick Cuny Mac McDevitt Buz Reynolds Judy Yoder Nash, Town Town of Avon Regular Council Meeting 7 July 11, 2000 EXHIBIT X~_a ~ ~c k / ~C CS "r '4 A Issue: Countywide bike pathT We received, on the 2& of June, a request for an easement that would place the bike path on or adjacent to our property. Our letter to the town council on June 22°d stated our concerns regarding the privacy, safety, security, and the noise and traffic that the bike path would bring into our neighborhood. We appreciate the opportunity the council has provided us to hear our concerns first hand. Today, and for the last 19 years, the people who live in our buildings F through J have enjoyed the tranquillity of their backyards. Today this part of our property is lawn that borders trees, an irrigation ditch, and the Eagle River. These buildings contain I 1 units each. There are 55 families and their children that use and play in this area. The proposed alignment of the bike path will drastically change our neighborhood for the worst. Every person on the path will become a peeping Tom. Our children who play on the lawn will be in danger of being hit by a person on a bicycle. Bike paths are public thoroughfares that do not close at night. This path will provide easy and legal access for those who wish to do mischief. I asked public works if a survey had been done as to.how many people would use the path. They said that to their knowledge no studies-, had been done. We believe that 20 to 50 people an hour would not be an exaggeration: This alone would create noise and commotion where none exists today. We understand that the path will be on or adjacent to our property. We,also understand that-probably hundreds of people a day may be using this particui path. The challenge is'how to minimize the adverse affects that this path will-bring onto our community. Obviously, the further the path is located away from the buildings the less the intrusion. In our meetings with Miss Marten and Mr. wood, we asked why the path could not be located along the river or on the irrigation ditch. Miss Martens explained to us that there were environmental concerns as to the number of trees that would have to be cut down. And Miss Martens explained that it would be much more costly to put the path along the river or on the irrigation ditch. Miss Martens did not offer to us what the estimated price was for the construction of the path either in its proposed alignment or if it was built on the ditch or along the river. Miss Martens also told us of a rumor she had heard about the Arrowhead people abandoning the ditch. Miss Martens didn't think this would happen but didn't know for sure. Public Works has never shown us any plans or cost estimates that would align the path along the river or on the irrigation ditch. We do not believe enough effort has been put forth to find and cost another alignment. Because, this bike path will constitute a permanent intrusion into our neighborhood, the Town Council must balance the adverse affects that the proposed alignment will bring to the Sunridge Neighborhood against the cost of building the path along the river or on the location of the irrigation ditch. We are requesting that the Town Council table any further action on the path until the council can better balance the cost of constructing the path along the river or on the irrigation ditch with the safety, security, privacy, and tranquillity of this established neighborhood. ' Mr. Levin has told us that he will begin condemnation proceedings against the . Sunridge Association on Friday, July 14th. We received Mr. Levin's easement proposals on the 20th of June. This has put a time burden on the board of directors of our Association. We are asking the Town Council to look into a new alignment to the path. If over our objections the town council stays with the currently proposed alignment, we then would want to discuss other alternatives to minimizing the adverse affects this path • • has on our community. We have already spoken with Miss Martens and Mr. Wood about a privacy fence. We would want to see a higher and longer fence than has been offered in the easement proposals. The easement proposal does not state what materials would be used or who would be responsible for the maintenance of a fence. We also have problems with the appraisal. We know that the Town of Avon will pay for a second appraisal. We did not want to order a second appraisal, at the town's expense, until the town council rules on our request for a study of the alignment of the path. Once the Town Council rules on our request if needed we can immediately order a second appraisal and have our attorneys move on the easement proposals. Condemnation proceedings will cause both the town and our association legal fees that we in good faith can avoid. We ask the town council to table any motions for condemnation until first, the council rules on our request for further study as to the alignment of the path, second, we have a second appraisal done, and third we have an opportunity to negotiate an easement agreement. Do to the fact that we did not receive the easement agreements until the 2& of June, we believe condemnation proceedings at this time are premature. We thank the Mayor and Town Council for giving us the opportunity to present our concerns and requests. AIBIT B • SOURCES AND USES OF FLNdDS Town of Avon, Colorado Certificates of Participation, Series 2000 Dated Date - 08101/2000 Delivery Date 08/21/2000 Sources: Bond Proceeds: Par Amount 2,345,000.00 Accrued Interest 6,867.92 Original Issue Discount -7,833.15 2,344,034.77 Uses: Project Fund Deposits: Project Construction Fund 1.978.082.11 Other Fund Deposits: Debt Service Reserve Fund 201.257.50 Accrued interest 6.867.92 208,125.42 Delivery Date Expenses: Cost of Issuance 78.500.00 Under-Aritees Discount 21.105.00 Bond Insurance 54,000.00 153.605.00 Other Uses of Funds: Addit:ecal Proceeds 4.222 24 2,344.034.77 t Jul 6, 2000 11 0 am pared by HaW&n. Imhoff ( 4300 SwestcoAVON-2000140W Page 1 BOND DEBT SERVICE Town of Avon. Colorado Certificates of Participation, Series 2000 Period Ending Principal Coupon Interest Debt Service Annual Debt Service 0& 21; 2000 12;012000 41,207.50 41,207.50 41,207.50. 06'012001 61,811.25 61,811.25 12i01P_001 70,000 4.4500/6 61,811.25 131,811.25 193,622.50 06;012002 60,253.75 60,253.75 1?,'0 112002 75,000 4.650% 60,253.75 135,253.75 195,507.50 06/012003 58,510.00 58,510.00 111012003 75,000 4.7501/6 58,510.00 133,510.00' 192,020.00 06/012004 56,728.75 56;728.75 121012004 80,000 4.750% 56,728.75 136,728.75 193,457.50 061012005 54,828.75 54,828.75 12/01/2005. 85,000 4.800% 54,828.75 139,828.75 194,657.50 06'012006 52,788.75 52,788.75 11,01/2006 90.000 4.800% 52,788.75 142;788.75 195,577.50 061012007 50,628.75 50,628.75 12.,'01/2007 100,000 4.900% 50,628.75 150,628.75 201,257.50 0&0 112008 48.178.75 48,178.75 11.012008 100.000 5.000% 48.178.75 148,178.75 196.357.50 06.01:2069 45,678.75 45.678.75 1101i2009 100.000 5.000% 45.678.75 115,678.75 191357.50 061,01/2010 43,178.75 43,178.75 1 ? 01!2010 110.000 5.000% 43,178.75 153,178.75 196,357.50 06"01!2011 40,428.75 40,428.75 1:1,01/2011 115,000 5.100% 40,428.75 155.428.75_ 195,857.50 06012012 37,496.25 37,496.25 12. 012012 125.000 5.200% 37.496.25 162,496.25 199.992.50 06;01,2013 34.246.25 34.246.25 .12.101-12013 . 125.000 5.300% 34.246:25 159,246.25 193.492.50 06,01'2014 30,933.75 30,933.75 12.01.2014- 130.000 5.650% 30.933.75 160.933.75 191.867.50 06.01:2015 27.261.25 27,261.25 12. 01:'2015 140.000 5.650% 27,261.25 167,261.25 194,522.50 0601/2016 23,306.25 23.306.25 111012016 145,000 5.650% 23,306.25 168,306.25 191.612.50 06/012017 19,210.00 19,210.00 12/012017 155.000 5.6501/6 19,210.00 174,210.00 193,420.00 06101/2018 14,831.25 14,831.25 12) i012018 165.000 5.650% 14.831.25 179,831.25 194,662.50 06101 /2019 10.170.00 10,170.00 12/01/2019 175,000 5.650% 10,170.00 185,170.00 195,340.60 06/01/2020 5,226.25 5,226.25 ' 12/01/2020 185,000 5.650% 5,226.25 190,226.25 195.452.50 2,345,000' 1,592,600.00 3,937,600.00 3,937,600.00 Jul 6, 2000 11:00 am Prepared by Hanifen,'6hoff ( 4.300 SwcacoAVON-2000HOIn Page 2 y BOND PRICING Town of Avon, Colorado Certificates of Participation, Series 2000 Maturity Bond Component Date Amount Rate Yield Price Serial Bonds: 12101/2001 70,000 4.450% 4.450% 100.000 12101/2002 75,000 4.650% 4.650% 100.000 12/01/2003 75,000 4.750% 4.750% 100.000 12101/2004 80,000 4.750% 4.7800/6 99.878 12/01/2005 85,000 4.800% 4.8300/6 99.854 12101/2006 90,000 4.800% 4.860% 99.671 12/01/2007 100,000 4.900% 4.9306/o 99.811 12/01/2008 100,000 5.000% 5.000% 100.000 12/01/2009 100,000 5.000% 5.040% 99.698 12/01/2010 110,000 5.000016 5.080% 99357 12/01/2011 115,000 5.100% 5.18001a 99.315 12101/2012 125,000 5.200% 5.250% 99.543 12101/2013 125,000 5.300% 5.360% 99.426 1,250,000 Term Bond Due 2020: 12/01/2020 1.095.000 5.6500/6 5.6800/6 99.631 2.345,000 Dated Date 08/01/2000 Deliverv Date 08/21/2000 First Coupon 12/01/2000 Par Amount 2.345.000.00 Original Issue Discount -7.833.15 Production 2,337.166.85 99.665964% Underwriter's Discount -21.105.00 -0.900000% Purchase Price 2,316.061.85 98.765964% Accrued Interest 6,867.92 Net Proceeds 2,322,929.77 Jul 6, 2000 11 :00 an Prepared by Hanifen, lmhoff ( 4300 SwestcoAVON-2000HOW Page 3 BOND SULLMARY STATISTICS , Town of Avon, Colorado Certificates of Participation, Series 2000 Dated Date 08/01/2000 Delivery Date 08/21/2000 First Coupon 12/01/2000 Last Maturity 12/01/2020 Arbitrage Yield 5.724027% True Interest Cost (TIC) 5.834221% Net Interest Cost (NIC) 5.539617% All-Iri TIC 6.257911% Average Coupon 5.440756% Average Life (years) 12.427 Duration of Issue (years) 8.427 Par Amount 2,345,000.00 Bond Proceeds 2,344,034.77 Total Interest 1,592,600.00 Net Interest 1.621.538.15 Total Debt Service 3,937,600.00 Maximum Annual Debt Service 201.257.50 Average Annual Debt Service 193.844.32 Underwriter's Fees (per $1000) Average Takedown Other Fee 9.000000 Total Underwriter's Discount 9.000000 Bid Price 98.765964 Par Average Average Bond Component Value Price Coupon Life Seriai Bonds 1,250,000.00 99.697 5.040% 7.974 Tenn Bond Due 2020 1,095,000.00 99.631 5.650% 17.511 2,345,000.00 12.427 Jul 6, 2000 11:00 am Prepared by Hanifen, Imhoff ( 4.300 SwestooAVON-2000HOW Page 4 BOND,SUM.LtARY STATISTICS - t Town of Avon, Colorado Certificates of Participation, Series 2000 All-In Arbitrage TIC TIC Yield Par Value + Accrued hest + Premium Miscomnt) - Underwrite's Discount - Cost of Issmnce Expense = Other Ammnts Target Value Target Date Yield Ju16, 2000 11:00 am Prepared by Hanifen. Imhoff 2.345,000.00 2,345,000.00 2,345,000.00° 6,867.92 6,867.92 6,867.92 -7,833.15 -7,833.15 -7,833.15 -21,105.00 -21,105.00 -78,500.00 -54,000.00 -54,000.00 -54,000.00 2,268,929.77 2,190,429.77 2,290,034.77 08/21/2000 081212000_. _ 0821/2000 5.934221% 6.257911% 5.724027% ( 4.300 SwestwAVON-2000HOL) Page $ NET DEBT SERVICE _ Town of Avon, Colorado Certificates of Participation, Series 2600 Period Total General Debt Service Net Ending Debt Service Fund Reserve Fund Debt Service 12`01/2000 41.207.50 6,867.92 3,200.01 31,139.57 12101/2001 193,622.50 11,520.04 182,102.46 12101/2002 195,507.50 11,520.04 183,987.46 12/01/2003 192,020.00 11,520.04 180,499.96 12/0112004 193,457.50 11,520.04 181,937.46 12/01/2005 194,657.50 11,520.04 183,137.46 12/01/2006 195,577.50 11,520.04 184,057.46 12/01/2007 201,257.50 11,520.04 189,737.46 12101/2008 196,357.50 11,520.04 184,837.46 12/01/2009 191,357.50 11,520.04 179,837.46 12101/2010 -196,357.50 11,520.04 184,837.46 12/01/2011 195,857.50 11,520.04 184,337.46 " 12/01/2012•, 199,992.50 11,520.04 188,472.46 12/01/2013 193,492.50 11,520.04 181,972.46 12/01/2014 191, 867.50 11,520.04 180,347.46 I?JO 1/20,15 194,522.50 11,520.04 183,002.46 12/01/2016 191,612.50 11,520.04 '180,092.46 12101/2017 193,420.00 11,520.04 181.899.96 12:01/2018 194,662.50 11,520.04 _ 183,142.46 1201/2019 195.340.00 11,520.04 183,819.96 3.937,600.00 6,867.92 434,858.31 3.495,873.77 Jul 6, 2000 11.00 am Prepared by Hanifen, Imhoff ( 4300 SwestooAVON-2000HOU) Page 6'