| | | | | | | | VAIL TOWN COUNCIL AGENDA MEMO
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| | | | | | | | ITEM/TOPIC: Chamonix Neighborhood – 60 Day Chamonix Neighborhood Scope of Services Report
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| | | | | | | | PRESENTER(S): George Ruther, Director of Community Development
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| | | | | | | | | ACTION REQUESTED OF COUNCIL: The Vail Town Council is being asked to provide responses and direction on the following questions:
- Which site plan, A or B, best achieves the Town Council’s objectives for development in the Chamonix Neighborhood?
- Are there any significant changes that need to be made to the floor plan designs before moving forward with design development drawings?
- Which approach to the home construction should the development team pursue? On-site or off-site?
- Does the Vail Town Council authorize moving the Chamonix Neighborhood forward in the development review process?
- Does the Vail Town Council support this cost/pricing structure or does the Town Council wish to add further subsidy to the development to increase the range of buyers to include home purchasers earning less than 120% of AMI annually?
- Or, would the Town Council rather reevaluate unit sizes in an effort to reduce overall cost?
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| | | | | | | | | BACKGROUND: This presentation will cover the following topics:
- Conceptual site plans depicting two different density scenarios
- Design and development of conceptual townhouse and duplex unit floor plans
- Preliminary building sections and architectural elevations
- Conceptual civil engineering and site grading plan for each of the two density
scenarios
- Updated project-level development budget and detailed construction budget based upon estimates of probable cost for each residential unit type and each site plan option
- Construction schedule and recommend a preferred phasing plan
presuming an initial construction start no later than May 1, 2017.
- Due diligence process on system-built off site construction including schedule implications, cash flow and an initial estimate of cost for a system- built approach and a comparison to on-site stick framed construction
- Proposed development pro forma whereby the Town of Vail provides the financing for the project
- Proposed plan outlining the specific strategies and roles of the various parties
involved in the marketing of the homes
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| | | | | | | | | STAFF RECOMMENDATION: the Town staff recommends the following:
- Instruct the development team to advance the design of Site Plan A
- Authorize the development team to take the steps necessary to receive entitlements and approvals for the development
- Initiate a reservations and marketing campaign to further engage potential home buyers
- Authorize the town staff to take the steps necessary to prepare and begin negotiating a pre-development agreement with the development team for Town Council review and approval
- Instruct the development team to advance a development design with a residential product mix that requires no further financial subsidy from the Town of Vail
- Instruct the development team to complete a more detailed due diligence process with regard to off-site systems built construction and report their findings back to the Town Council acceptance
- Instruct the development team to complete a more detailed due diligence process with regard to constructing the development in one phase and report their findings to the Town Council for acceptance
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