Item Coversheet

VAIL TOWN COUNCIL AGENDA MEMO

ITEM/TOPIC:   Deed restriction and lottery selection process for the future development of the Chamonix Neighborhood at West Vail. 

PRESENTER(S):   George Ruther, Director of Community Development

ACTION REQUESTED OF COUNCIL:   The Vail Town Council will be asked to make a final determination on the deed restriction and lottery selection process.  A determination on these two matters is needed to continue forward with the Chamonix Neighborhood marketing and reservation processes.

BACKGROUND:  

The Chamonix Neighborhood development helps the Vail Town Council achieve its adopted goal of “growing a thriving and balanced community”. To do so, however, a deed restriction for occupancy of the new homes and a lottery selection process are needed. 

 On December 6th, the Vail Local Housing Authority presented its recommendation for both the deed restriction language and the lottery selection process to the Vail Town Council.   At the conclusion of the presentation the Town Council instructed staff to prepare a final recommendation on these matters for a public hearing.

 No substantial changes were made to the recommendation since the worksession on December 6th.



STAFF RECOMMENDATION:   The Community Development Department recommends the Vail Town Council approves the proposed deed restriction language and lottery selection process as presented.  The proposed language and process further the Town's stated guidelines and goals for the Chamonix Neighborhood development and help the Town achieves its objective of creating, maintaining, and sustaining community by constructing a for-sale, deed restricted housing development that provides home purchase opportunities for persons and families employed in Eagle County and committed to make Vail their permanent place of residence.

ATTACHMENTS:
Description
Chamonix Neighborhood at West Vail – Deed Restriction and Lottery Process Recommendation Memorandum