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10-05-05 Town Council Minutes Town of Snowmass Village Town Hall Ad-Hoc Advisory Committee Meeting Minutes October 5, 2005 Previous Meeting The Committee agreed with the Agreements as drafted from the October 3 meeting as submitted. John Wilkinson Relayed a question on behalf of Rick Griffin regarding whether or not the cost analysis for the proposed Town Hall included a lifecycle cost analysis (LCA), which factored in maintenance and upkeep over the building’s life. Gus Gustafson Stated that an LCA had not been completely done - mechanical systems and other building details are not fully designed yet. Design team is striving to design a green/sustainable building that would be LEED certifiable. The Point & Draw sites have various pros and cons related to energy performance, such as earth sheltering and solar gain opportunities, which will be evaluated. Design Issues Leah Moriarty Did Council specifically request a high-tech, new age style of architecture? Gus Gustafson The exterior design is still an evolving work in progress. Council has only seen 2 design concepts so far, and has not delved into the issue too deeply at this point. The current design sits somewhere in the middle of mountain/rustic vernacular and a more industrial style. Design grew out of desire to present a progressive, civic presence, while incorporating rustic/mountain accents and details. Leah Moriarty The big glassy entrance wall should incorporate large doors to blend and connect the indoor and outdoor environments. Leslie Lamont Design details will evolve – the design presented for Pt. Draw will not likely be the same on another site. Stan Kornasiewicz How will increased construction costs affect the project cost estimate? Gus Gustafson The $6MM budget will accommodate for some of that impact, as well as for incorporating potential expansion programs, such as Group Sales. Construction TOWN HALL MEETING NOTES 10-05-05 industry experts & value engineering will be brought into the design process early. Leslie Lamont Draft recommendation language is presented for Committee review and revisions. Any other design questions? Leah Moriarty Can parking be pushed to N-side of bldg.? Gus Gustafson Still would want primary entrance and main public space on S-side to maximize sun exposure, but most parking could probably be pushed to N-side. Mike Segrest That is consistent with Council direction to push more asphalt to back of bldg. Gus Gustafson There is still a lot of design flexibility as we begin to look at the Draw-only site. Pt./Draw concept has become fairly evolved, however, there is still flexibility in that plan as well. Preferred Site Leslie Lamont Asked each of the members to offer their preference and perspective relative to a Town Hall site. Barry Peters Depends on how the Point would be treated as an asset if TH was pushed totally onto the Draw. If Pt. could eventually be utilized to sufficient economic benefit, then the Draw-only would be preferred. Ted Grenda Future value is unknowable. Pt. appraised at $6.8MM. Actual would depend on best, publicly acceptable use. Mike Segrest To get a realistic value would require a full land use review process. Also need to consider potential public benefit value in other public use of the asset. Barry Peters The Town could work up several hypothetical development scenarios for the Pt. to determine best guess on its value. 2 TOWN HALL MEETING NOTES 10-05-05 Ted Grenda Lets focus on the election matter at hand. Should a $6.8MM piece of land be used to put a $6MM Town Hall on? I think we should build it on the Draw and finance it with a bond issuance. Steve Rausch Talked to several people in the community. They were unanimous in support for building a new TH. All say to build it on the Draw and preserve option to do something with the Point in the future. Location in Town Core is ideal. Could Council place minimum acceptable price on the Point? Mike Segrest Council could adopt such a policy, but could not bind any future Council to it. Steve Rausch Just let the Point property sit and appreciate – build TH on the Draw – finance with the bond. Jack Kennedy Ideally, I would prefer a TH on the Pt./Draw, with orientation to Sam’s Knob, but don’t think it is feasible w/ prevailing community opinion regarding use of the Point. So, I think TH should be on the Draw w/option to place an access road on the Point. Also, need to get the final recommendation out to the public in order to refute misinformation being disseminated. Stan Kornasiewicz No brainer when you put the numbers to it. Point/Draw Concept Bldg. $6.1MM Point $6.8MM Draw $1MM Total $14MM Project Draw Only Concept Bldg. $6.1MM Land $1MM Total $7MM Project Preserve Pt. site – minimize impact to Point in order to preserve maximum flexibility and value potential. 3 TOWN HALL MEETING NOTES 10-05-05 Also, need about twice as much parking as is proposed, regardless of code requirements. Jack Kennedy What is Draw valuation based on? Stan Kornasiewicz Based on $30K per unit – if knock out potential for 30 units – then Approx. $1MM. Leah Moriarty Value of the Pt. is “priceless” for future generations. Don’t need big “ego-maniac” st Town Hall out on Brush Creek. Do it on the Draw – 1-class – bank the Point and the Entryway- rodeo grounds. Leslie Lamont Q: Agree that the program that the Town needs can fit on the Draw? Committee A. Yes. Agreements: 1. The Point is an asset that should be preserved for some future, unidentified use. 2. The Point should be preserved in its entirety to preserve maximum flexibility and potential value. 3. Do not encumber Point in any way that could diminish future value. Mike Segrest An in-depth deliberation will be required to determine what ultimately goes on the Pt., but TH design should not be restricted too definitively without knowing limitations of the Draw site, and the potential need for some limited cross-over onto the Pt. – Key issue is road access to upper part of the Draw. Leslie Lamont Q: Would limited encroachment onto Point be acceptable, if necessary? Committee A: Yes, but should be limited to absolute bare minimum. Bob Purvis The future value of the Point is uncertain based on unknown market forces and future community willingness to permit development of the site. Value is unknowable. 4 TOWN HALL MEETING NOTES 10-05-05 Can we take action that allows Town Hall to move forward, but which does not limit the future of the Point site? Could the asset be redeployed in a way that could increase its value to the Town in the future? Don’t say – “never sell it” – but hold it and wait to see what opportunities come along. Steve Rausch Likely the Point will only appreciate in the future. Does anyone think it could go down in value? Barry Peters Could depreciate to $0 if future developability is negated by Town limitations over time. Financing Options – Town Hall Ballot Question Leslie Lamont What is the preferred financing mechanism if the project is built on the Draw- only? Steve Rausch Bond is supportable b/c we really need the new facility. Barry Peters Bond needs to be fully explained in simplistic way to the community. Discuss alternative methods. Stan Kornasiewicz Bond Counsel and underwriters are middlemen that add cost to the financing equation. Is this the cheapest way to do it? Mike Segrest GO Bond - bond Counsel ensures well-structured plan and bids out for underwriters. Barry Peters W/ full faith and credit of Town, GO Bonds are the cheapest way to finance, preserve cash, and have minimal payments. What are the alternatives? Bank financing? COP’s? Not better options. Ted Grenda Lets focus on the ballot question, not alternatives. 5 TOWN HALL MEETING NOTES 10-05-05 Bob Purvis Believes that if Council accepts recommendation, most opposition goes away. Selling the Point to finance TH is not big concern now, as long as Point remains unencumbered. Ted Grenda He has had conversations with others who have also reflected Bob’s comments. Leah Moriarty Same opinion expressed in conversations with several Horse Ranch folks. Barry Peters The Committee should issue responses to the columns printed in the Oct. 5 issue of the Sun. Final Recommendation Staff has taken agreements from previous mtgs. to create draft version. Committee made several recommendations to revise the Draft Final Recommendation for acceptance by Council Resolution. Key Points 1. Design TH on Draw-only. 2. Minimize impact to the Point. 3. There is site design flexibility on the draw. 4. State unanimity of all Committee agreements and recommendations. 5. Emphasize that the Committee considered the option of remaining in current lease space, but found it impractical for several significant reasons. Other specific word revisions will be reflected in the Final Recommendation language. Bob Purvis People are not voting on the bond – we’re voting on the project. Meeting Adjourned 6 TOWN HALL MEETING NOTES 10-05-05 Respectfully Submitted By: FOR: Jason Haber Economic Resource Director 7