Authority Meeting 11/11/2025

Updated 2 days ago

The Vail Local Housing Authority is responsible for a budget, advocacy, coordinating with town staff on housing initiatives, and recommending long-term plans to the Vail Town Council. The VLHA places a special emphasis on affordable housing initiatives and works to ensure there is deed restricted housing for at least 30% of Vail’s workforce in Vail. Public meetings of the VLHA are held the second and fourth Tuesdays of the month. Meetings begin at 3 p.m.

Chapters

Call to Order and Roll Call (00:00:00)
The meeting of the Vail Local Housing Authority was called to order with a quorum present. All members were accounted for, including one joining via Zoom.

The regularly scheduled meeting of the Vail Local Housing Authority was called to order at 3:00 PM. Three members were present initially, establishing a quorum. Another member joined shortly after, and all members, including Christine, were present, with Christine joining via Zoom.
Citizen Participation (00:00:28)
Todd Mossa, a general manager, spoke on behalf of condo-tel managers, expressing gratitude for past discussions and interest in future collaboration regarding housing challenges.

During citizen participation, Todd Mossa, general manager of a local establishment, spoke on behalf of condo-tel managers. He thanked Commissioner Lynn Strum for previous discussions on housing challenges and expressed a desire for ongoing conversations with the authority to explore funding sources and potential outcomes for lower-income housing.
Approval of Meeting Results (00:02:31)
The minutes from a previous special meeting were reviewed and approved unanimously by the members present.

The authority reviewed the results from a previous special meeting. A motion to approve was made and seconded. All members present voted in favor, resulting in unanimous approval of the meeting results.
Housing Project Updates (00:03:01)
Updates on Timber Ridge and South Face projects, including construction progress and challenges. Discussion on storage solutions and upcoming changes to development agreements.

The authority received updates on various housing projects. Timber Ridge is progressing with construction on building G and planning occupancy for building A in December. The South Face project is working on retaining walls and stormwater upgrades. Discussions included challenges such as rockfall mitigation and storage logistics. Additionally, updates on town resolutions and development agreements were provided.
Financial Update - Third Quarter (00:14:40)
The BLHA's income statement was reviewed, showing revenues pacing ahead of budget due to unspent contingencies. Expenditures are below budget, resulting in a favorable financial position.

Jake presented the third quarter financial update for the BLHA. The authority's revenues are ahead of budget expectations, primarily due to unspent contingency funds earning interest. On the expenditure side, costs are below budget due to unutilized contract placeholders, leaving the BLHA in a strong financial position through the end of the quarter.
Town of Vail Housing Fund Update (00:21:19)
The Town of Vail Housing Fund update showed strong financial performance with higher than expected revenues from interest and revenue sharing.

An update on the Town of Vail Housing Fund was provided, indicating revenues exceeding projections due to higher interest income and increased revenue sharing from Middle Creek. Expenditures were also reviewed, including transfers to support housing projects, and questions were raised about fund allocations.
Resolution 5: Adopting the Budget (00:25:25)
Resolution 5 was introduced to adopt the budget for the fiscal year. Discussion included a deficit and fund balance usage for one-time expenditures. The resolution was passed with changes.

The authority discussed Resolution 5, which involves adopting the budget for the upcoming fiscal year. Concerns were raised about running a deficit, but it was clarified that fund balance would cover one-time expenditures. A motion was made to approve the resolution with changes to meal and professional development allocations, and it was passed unanimously.
Impact Finance Contract Discussion (00:29:34)
Discussion on ongoing talks with Impact Finance, evaluating potential contracts for housing finance solutions. No contract signed yet, but discussions continue.

The authority discussed ongoing negotiations with Impact Finance regarding a potential contract to support housing finance initiatives. Discussions are still in an exploratory phase, with no contract signed as of yet. The authority plans to continue discussions to potentially reach a formal agreement.
Introduction of Fee-in-Lieu Program (00:35:30)
Introduction of a new fee-in-lieu program allowing deed restriction exchanges for cash, aiming to enhance housing goals.

The council introduced a deed restriction exchange program that allows for a fee-in-lieu payment on second reading. The program aims to provide flexibility by accepting cash to move deed restrictions off currently restricted properties, using that money as a direct investment in properties that help achieve the town's housing goals.
Discussion on Deed Restriction Flexibility (00:36:12)
Discussion on providing ultimate flexibility in deed restriction exchanges to better achieve housing goals.

The council discussed removing guardrails and providing ultimate flexibility in making deals that involve accepting money to move deed restrictions off properties. The money can be directly invested in more effective deed restrictions that align with the town's housing goals.
Eligibility for Deed Restriction Program (00:37:01)
Properties with most deed restrictions are eligible, with exceptions for town-created or obligation-based restrictions.

The council clarified that almost any deed restriction qualifies for the exchange program, except those created by the town as part of a town deed restricted project or those established due to a development obligation.
Benefits of Deed Restriction Exchange (00:37:57)
Exchange benefits include unlocking property value for owners and converting funds for effective restrictions.

The benefits for property owners include unlocking property value and making previously restricted square footage available for market rate sale or redevelopment. For the community, it means converting less effective deed restrictions into funds for more effective ones.
Fee-in-Lieu Payment Approval Process (00:39:00)
Council approves fee-in-lieu payments based on market evaluations, with flexibility for applicants.

The council will approve fee-in-lieu payments based on a market evaluation proposed by the applicant. There is no strict definition for market evaluation, allowing applicants to propose creative solutions for the board's recommendation, which will then be forwarded to the Town Council for final decision.
Submission Guidelines for Property Eligibility (00:41:02)
Guidelines for submitting property eligibility inquiries to housing department, outlining required information.

Property owners interested in the program can email the housing department with their property address, owner's name, email, phone number, a description of the deed restriction, current lease and tenant info, and a copy of the recorded deed restriction to determine eligibility.
Design Review Board (DRB) Approval Requirement (00:42:16)
DRB approval required for deed restriction removal, adding gross floor area to properties.

Removing a deed restriction adds gross floor area (GFA) to a property, requiring DRB approval. If no property modifications are needed, the addition might be staff-approved. The community development department has a process for DRB approval, including a GFA study.
Public Discussion on Housing and Tourism (01:05:34)
Discussion on misinformation in the campaign, housing authority roles, tourism, and public engagement.

The meeting featured a public discussion on the misinformation spread during a recent campaign. Participants were encouraged to attend meetings to understand discussions around housing authority roles, town staff, and council responsibilities. The challenges faced by the town, such as tourism and public engagement, were addressed, with a call for continued dialogue and better public information dissemination.
Housing and Marketing District Expansion (01:09:15)
Discussion on the potential use of marketing district funds for housing and voter fatigue on taxation.

The council discussed the expansion of the marketing district's use of funds, allowing them to be used for housing instead of just marketing. The importance of understanding voter sentiment, especially concerning taxation and the potential for new initiatives, was highlighted. There was a discussion on the state legislation allowing unincorporated counties to change lodging tax uses, and the need for more information on these changes.
Real Estate Market Update (01:12:02)
Update on the local real estate market, including inventory levels and interest rates.

A brief update was given on the local real estate market, noting that while some areas are still experiencing high demand and stable prices, others are feeling the effects of higher interest rates. There was a discussion about the ongoing challenges in the real estate market, including inventory levels and the impact of the pandemic on housing affordability.
Future Meeting Agendas and Email Communication (01:17:01)
Discussion on future meeting agendas and the transition to using V LHA emails for board business.

The meeting concluded with a discussion on future meeting agendas, which will be sent via calendar invites instead of emails. It was emphasized that all future board business should be conducted using V LHA emails, and members were asked to ensure they have access to these accounts. The importance of consistent communication and smooth transitions between old and new systems was stressed.
Adjournment (01:21:31)
The meeting was adjourned by Steve, who has the authority to do so without a formal motion.

The meeting was brought to a close with an adjournment by Steve, who has the power to adjourn without requiring a motion or second. This new process was briefly mentioned before concluding the session.

Vail Local Housing Authority (8 Episodes)

Updated 2 days ago

The Vail Local Housing Authority (VLHA) is responsible for existing Town of Vail deed-restricted housing inventories and affordable housing initiatives. The board places a special emphasis on affordable housing initiatives and deed restrictions.