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11-01-10 Town Council Packets(2)SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 AGENDA NOVEMBER 1, 2010 CALL TO ORDER AT 4:00 P.M. Item No. 1: ROLL CALL Item No. 2: RESOLUTION NO. 1. SERIES OF 2010 CONSIDERATION OF A RESOLUTION AMENDING THE 2010 BUDGET FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 OF THE TOWN OF SNOWMASS VILLAGE, COLORADO. -- Marianne Rakowski .......................................... ............................... Page 1 Item No. 3: RESOLUTION NO. 2. SERIES OF 2010 CONSIDERATION OF A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO, AND ADOPTING A BUDGET AND APPROPRIATING SUMS OF MONEY FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY OF DECEMBER, 2011. -- Marianne Rakowski ........, .................................. ............................... Page 6 Item No. 4: CONSIDERATION AND APPOINTING GENERAL IMPROVEMENT DISTRICT BOARD OF DIRECTORS -- Marianne Rakowski ........ ............................... Page 9 Item No. 5: APPROVAL OF GID MEETING MINUTES FOR: - -April 19, 2010 ........................................... ............................... Page 10 Item No. 6: ADJOURNMENT MEMORANDUM TO: General Improvement District Board of Directors FROM: Marianne Rakowski, Finance Director DATE: November 1, 2010 SUBJECT: GID Resolution No. 1, Amending the 2010 budget and appropriating funds for the Snowmass Village General Improvement District No. 1. I. PURPOSE AND ACTIONS REQUESTED OF COUNCIL: Review and approve Resolution No. 1, Series of 2010. A Resolution amending the 2010 budget and appropriating funds for the Snowmass Village General Improvement District No. 1, of the Town of Snowmass Village, Colorado. II. DISCUSSION ISSUES The 2010 budget (Attachment A) is revised to record a decrease in interest income and specific ownership revenues. The amended budget also has a decrease in operating and maintenance services to reflect lower costs for the snowmelting of Lower Carriageway /Wood Road. The change in fund balance with the above adjustments and 2009 carryover is an increase of $72,162. The GID advisory board met on October 20, 2010 and recommend approval of the 2010 revised budget. III. STAFF RECOMMENDATIONS Adoption of Resolution No. 1, Series of 2010. 11 SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO.1 TOWN OF SNOWMASS VILLAGE, COLORADO RESOLUTION NO. 1 SERIES OF 2010 A RESOLUTION AMENDING THE 2010 BUDGET FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO. WHEREAS, the Board of Directors of the Snowmass Village General Improvement District No. l has directed the General Improvement District No. 1 Advisory Board to prepare and submit a 2010 revised budget to the Board of Directors by December 31, 2010; and WHEREAS, the Advisory Board has submitted a 2010 revised budget to the Board of Directors on November 1, 2010; and WHEREAS, interest income and specific ownership revenues have decreased from budget and expenditures for snowmelting Lower Carriageway/Wood Road are lower than budgeted for 2010. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Snowmass Village General Improvement District No. l of the Town of Snowmass Village, Colorado: Section One: Adoption That the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado 2010 budget be adjusted to the 2010 revised budget, as summarized below and a true and accurate copy of which is attached hereto. General Improvement District Budget Summary - 2010 Revenues $ Expenditures $ End Fund Balance $ 2010 Budge 240,537 $ 371,733 $ 361,606 $ 2010 Revised 235,948 $ 339,259 $ 433,768 $ Variance (4,589) 32,474 72,162 10 -1 Page 2 Section Two: Appropriation That the 2010 revised budgeted revenue and fund balance is hereby appropriated for expenditure during the 2010 budget year. INTRODUCED, READ AND ADOPTED by the Board of Directors of the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado on the 1 st day of November, 2010 with a motion made by , seconded by The motion was approved by a vote of in favor to -- opposed. ATTEST: Rhonda Coxon, Secretary SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 Bill Boineau, Chairperson llJl� i f N NOOM l7 f010 Nt0 OI -OOH t0 N � O cc co 10 � ' � Cl) � A cO7 ®� Of f� O ,,,,,,��' M N Y1 'tT Lq 0 0) N 10 N OI M a 1n 10 h O: � CD /V 00 In O M ppy 1ff N N N N N m CD 1� Cl) N� M N NmN N N 01 tpP.N N RO N N NNN N NNNN N 613,(A N N N N N N N N N IA. fgiM °a) Im `v°m0)n aa, N°tNN I, N a°o c°o a a rn O aon�m e) o�rn1n r_ R M r V W) co aO 3 M�N1n N ID W) N a N � �� � IN. N ch N KI t0 t0 U ^7 'Q IMO O m��l aD m a0 a M O P'f N a�11 N 100 ONi N C N N N NN N N NNN N N N fo' &9. N N N N N N N N O co 0OM i� ID co N/D N MOB V A p a ccoo_/00 MA IOC NO W� �U°a0 4" O r 0 W) N /D OD a� N O N /D f0 Cr 1pfp� , A O) A 1(V� N N N N M /q 0) 0 f0 1O N Cl) O "1 N y N O N O N C, N NNNN N N N A 3.6 N NNN N OI+ M I- - O0N)2 ION 1R8 pM m N O O 1n U) R_ OMi O aD0N10 40 Ma)ON O 1n0 R a O M M N U? 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I. PURPOSE AND ACTIONS REQUESTED OF COUNCIL: A Resolution summarizing revenues and expenditures for the Snowmass Village General Improvement District No. 1, of the Town of Snowmass Village, Colorado, and adopting a budget and appropriating sums of money for the calendar year beginning on the first day of January, 2011 and ending on the last day of December, 2011. II. DISCUSSION ISSUES The 2011 budget (see attached) projects operating expenditures for legal, administration, audit, insurance, snowmelting and sky cab operating costs for a total budget amount of $340,167. These expenditures are supported by property taxes assessed on the General Improvement Districts area and year -end carryover. The fund balance for 2011 is projected to be $362,037 (See Attachment A). The amount budgeted for the Sky Cab operations in 2011 is $150,000, which is the same service amount budgeted for 2010. Winter service is currently contemplated to run from 4:00 p.m. to 8:00 p.m. Summer service will be discussed with the GID Board in the Spring of 2011. The GID advisory board recommends the adoption and appropriation for the 2011 budget. III. STAFF RECOMMENDATIONS Adoption of Resolution No. 2, Series of 2010. M SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO.1 TOWN OF SNOWMASS VILLAGE, COLORADO RESOLUTION NO.2 SERIES OF 2010 A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO, AND ADOPTING A BUDGET AND APPROPRIATNG SUMS OF MONEY FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2011 AND ENDING ON THE LAST DAY OF DECEMBER, 2011. WHEREAS, the Board of Directors of the Snowmass Village General Improvement District No. l has directed the General Improvement District No. 1 Advisory Board to prepare and submit a proposed budget to the Board of Directors by December 31, 2010; and WHEREAS, the Advisory Board has submitted a 2011 proposed budget to the Board of Directors on November 1, 2010; and WHEREAS, projected expenditures have been budgeted with projected revenues and fund balance so that the budget remains in balance, as required by law. NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Snowmass Village General Improvement District No. l of the Town of Snowmass Village, Colorado: Section One: Adoption That the 2011 budget be adopted, as summarized below and a true and accurate copy of which is attached hereto. General Improvement District Budget Summary - 2011 2011 Budget Revenues $ 268,436 Expenditures $ 340,167 End Fund Balance $ 362,037 e �I C4 00i Lo 00 `uf O W O N NJ cc N (00 1 O N N N m rnN0OD N N N N N N �N M c)) O O cq n VV OI C 0) CV CD OD n N N N � � N - N W N N N N N c0 U)OM c (q M A rnCV cO2 NJ- C14 N N N N N W Cl) r O CO W N CD C I N N N , CND N N N N &314011 O W O CD c+m 0)) A C U) O Go Lf!� rnN0OD �W) N N �N p N N N c m N N _ W N N N N n n - N W N aN m i _V r Z � W N N J is � W C H W LD m NI NNNN M W LOO O A c0 a0 O tG W Ol� m pOp N N N N N N u c A m c 7 U. c W c c Z co LU m > LU 0 a (q CL RE°' O 0 w 92 w c �a�� N N N N N h O o Go Lf!� z A M 0 W p N N N c m N N _ O p V N to a W N aN m n NNN«. 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N NNN N Y N N N N N N O V 6 W c ►c- < m ►c- c Ii c C c W v� y to Hv y q c ' > H a p rn 9 W E N J O m ) Ii I w< a F) m � If Z Z °a W c D ;o n" c R W Q m W �U I �' W O W a¢¢'ci �vYiin� u0 Lq N N U� O CD UX N N N N r � C am It N N N M Lq N V M D 0) OIN N N N � Lq N V � C� tDl N N N M rn C N V n cOl Cl) N N cli C W N rn N O rnCl N co Ly" N N CD O O c0 N tD m co co In LO M N N N N co O c0 c N f0 yI N 10 N a $ m > MEMORANDUM TO: General Improvement District Board of Directors FROM: Russ Forrest, GID Advisory Board member DATE: November 1, 2010 SUBJECT: GID Advisory Board Vacancies I. PURPOSE AND ACTIONS REQUESTED OF COUNCIL: The purpose is to discuss the three vacancies on the GID Advisory Board. Action: The GID Board to decide whether to fill the vacancies with the names submitted by Lowe Enterprises now or to wait until after the foreclosure. II. DISCUSSION ISSUES The GID Advisory Board to the GID Board is made of six members. The three vacant seats were held by Mak Keeling, Shawn Gleason and Scott Stenman. The GID Advisory Board has received their formal resignations. Russ Forrest, Marianne Rakowski and Hunt Walker are the remaining three members. Lowe Enterprises has submitted three names to fill those vacancies, which are James De Francia, Michael Tande and Steve Santomo. The current GID Advisory Boardmembers continue to meet to support the GID Board and the operations. The Town Council can choose to: 1) Fill the three vacancies with the names submitted by Lowe, 2) Advertise or seek additional options (Aspen Ski Co, Base Village owners, etc.) for filling the advisory board, or 3) Waite until after the foreclosure is completed. 1 SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 MINUTES APRIL 19, 2010 GID Board Member Bill Boineau called to order the Meeting of the General Improvement District on Monday, April 19, 2010, at 5:00 p.m. Item No. 1: ROLL CALL GID BOARD MEMBERS PRESENT: GID BOARD MEMBERS ABSENT: STAFF PRESENT: PUBLIC PRESENT: Item No.2: GID MILL LEVY Bill Boineau, John Wilkinson, Markey Butler, and Arnold Mordkin Reed Lewis Russ Forrest, Town Manager; Susan Hamley, Tourism Director; Chris Conrad, Planning Director; John Dresser, Town Attorney; Hunt Walker, Public Works Director; and Donna J. Garcia, Deputy Town Clerk Madeleine Osberger and Mary Hams The Town Manager Russ Forrest reported that the Finance Director would not be in attendance during today's meeting due to a family illness. Forrest provided Town Council with background information for today's discussion and stated that during the December 7, 2009 G.I.D. Board meeting the Board inquired as to the possibility of increasing the G.I.D. mill levy to support operations; Calvin Hansen from Sherman & Howard has responded with a letter attached to today's packet of information explaining the history behind the mill levy. Forrest provided Council with a recap on the combined mill levies of the G.I.D. Metro District and the Base Village Districts of 49.5 mills; of this amount the Base Village Districts are authorized under the IGA to levy up to 37.5 mills for bond repayment; 6 mills for Metro District operating expenses such as the maintenance operation in Base Village and general public areas; and 6 mills for GID operations, which covers the Budget summarized within today's packet. He stated that 6 mills pays for the Skittle Lift and the snow melt system on Lower Snowmelt Road. Mr. Hansen looked at the various issues associated with this and summarized that the GID mill levy is limited to 6 mills for operating expenses based upon an Intergovernmental Agreement (IGA) between the Metro District and the GID executed in 2006 and spells out how the mill levy would be operated and the understanding behind it used, in the issuance of the bonds. There is 1 the potential opportunity to go from 6 to 10 mills, which would require a modification to the-1GA and consent of both parties and according to Mr. Hansen this could be an issue for the bond holders. Forrest stated that staff could have a discussion with the Metro District and they would not be excited about shifting from 6 to 10 mills. It is also possible to increase that mixed maximum mill levy and would require approval of the individuals from that district. He further discussed Mr. Hansen's letter and stated that staff recommendation to the GID Advisory board (due to the current economic climate) is to wait two to three years when we have a better idea of future assessed values and property tax impacts to look at this issue again. Mayor Boineau inquired of staff if during the original financial discussion on this property was the Town counting on the property being completed today and what is the difference in value because of lack of completion? Council and staff reviewed the Budget for the Skittles operation out to 2014, which is a negative fund balance and next year from an operational standpoint, we first fund the Snowmelt operation and whatever is left is committed to the Skittles operation; the key implication for next year is instead of $150,000 for the Skittles operation we are down to $100,000. Council Member Markey Butler stated one of the conversations Council had during the last GID Board meeting was the viability of GID and it looks like we're on the path of doing something significant with the GID in making sure the Skittles are running, while the summer operations we continue to decrease services because of the short fall in cash and taking it to 10 mills doesn't make sense. Forrest explained that staff is talking about from Wood Road all the way up threw and past the Children's Center Tree House. The Public Works Director Hunt Walker clarified the Base Village in 2007 constructed the snow melt on Wood Road and stopped just shy of the bridge on Wood Road and also constructed the snow melt up to Children's Center and this is the snow melt we are talking about and the town is responsible for the heating costs associated with the GAP Section, which goes from the Children's Center up to the old snow melt, which the Town built in 2008. Council Member Mordkin and staff discussed the cost of snow melting last year, which was approximately $194,000 and from 1967 until 2009 this Village somehow managed to not have snow melt on that particular piece of property. Mordkin stated that he would to turn it off and run the skittles for the same funds. The Public Works Director commented that the problem with cutting out snow melt operations and funding the Skittles is that that section of road would be destroyed with the snow plows. Mordkin stated that we are talking about a three -to -five year period and in this time frame we will be in a better position to fund the replacement of damaged roads, than putting our merchants out of business. Walker further pointed out the reason we don't plow the historical sections of snow melt road is if he sands it - it doesn't do that much good and cars start sliding down so that section of road, which would impact businesses would be closed much more often than it is now and his strong recommendation is to snow melt. Council Member Butler stated "We can play around with the snow melt issue and I see as a potential safety issue with the change in grade but at the end of day I don't see a lot of construction happening in 2014 and I think we've got to address the big issue of where are we going with it long term and I don't see patch work quilts happening and we really need to sit down and figure out the long -term solution on this GID if we don't see any construction coming." Council Member John Wilkinson asked a couple of Budget questions and in response the Town Manager stated that operating costs changed from $80,000 $150,000, which was due to a decrease in operational costs, with the ASC working with staff and announced a significant reduction. This year we are able to operate it at $150,000 and still maintain the number of hours we had last year. The reduction from $150,000 to $100,000 from 10 to 11 would be a reduction in hours of operation or some other cost such as snow melt operations. In response to an inquiry by Council Member Wilkinson, Forrest stated that the way this is being funded is by reducing the fund balance. Wilkinson stated that in two years we are looking at reduced services and in 2014 we are totally busted and we need to increase the mill levy to keep this town going. Forrest stressed that staff does not see a practical way to raise the mill levy. If what Council is asking is "How can we find a sustainable solution and it is potentially coming back to Council - the Skittles operation in front of you is based upon the opportunity we have with Elk Camp. He explained that one messages received within the community was to try and mirror the Skittles operation with Elk Camp and we are able to do that. If there was a desire to look at the snow melt side of it we can look at that; in terms of a pot of money we can balance that out and extend the operations further into the future but it can only go so far if we don't have further development and additional tax base. The only thing above and beyond that would be looking for other sources of funding through that other entity known as the Town of Snowmass Village. The Town Attorney John Dresser stated that Council is talking about funding their operation and they also have an obligation because they put bonds out there to repay those so that is part of what Council is doing and to say that you are going to close it down or let it go bankrupt and you have all those bond holders to take care of so your options are 1)Try and raise the mill levy, which is futile, think of who the voters are for raising the mill levy; or 2)As the Managing Board of the entity is cut back on the services you provide. It is very important that Council makes sure that the bond holders are paid back because the credit this district enjoys is the Town of Snowmass Village's credit, which is exact the same credit that the Metro District enjoys and if you do anything to jeopardize that credit you are actually doing a disservice to the other entity that you represent as a Board. �� tj� Mayor Boineau directed staff to develop a number of options, including where the Town can cut back and mentioned that we should be looking at cutting back on snow melt roads; cutting out sky cab; and perhaps approaching the Town for help to run it or forming another merchant's district and continue implementing the Budget that has been approved this year and punt until next year. The Mayor further clarified that Town Council does not want staff to do anything with the mill levy question and requested that staff review how we can move forward with the next step to cut expenses or raise alternative sources of revenue. Item No. 3: DISCUSSION OF THE GID FUNDING OF THE SKITTLES LIFTS RELATING TO THE HOURS OF OPERATION AND GID MILL LEVY Mayor Boineau directed staff to develop a number of options, including where the Town can cut back and mentioned that we should be looking at cutting back on snow melt roads; cutting out sky cab; and perhaps approaching the Town for help to run it or forming another merchant's district and continue implementing the Budget that has been approved this year and punt until next year. The Mayor further clarified that Town Council does not want staff to do anything with the mill levy question and requested that staff review how we can move forward with the next step to cut expenses or raise alternative sources of revenue. Markey Butler made the motion to approve Member of the GID Board Markey Butler made a motion to approve the summer operations as presented by staff, keeping hours of operation from 10:00 a.m. until 8:30 p.m. and running it for seven days per week, with option to review once we are into the season. Mayor Bill Boineau seconded the motion. The motion was approved by a vote of 4 in favor to 0 opposed. Voting Aye: Mayor Bill Boineau, John Wilkinson, Markey Butler, and John Dresser, Town Attorney. Voting Nay: None. Item No.4: APPROVAL GID MEETING MINUTES FOR: October 19 2009 and December 7. 2009 John Wilkinson made the motion to approve GID Board Chair and the Town Attorney requested that all references as Mayor be changed to GID Chair and all references to Town Council throughout this set of minutes be changed to GID Board. GID Board Member John Wilkinson made a motion to approve as amended the GID meeting minutes for October 19, 2009. Markey Butler seconded the motion. The motion was approved by a vote of 4 in favor to 0 opposed. Voting Aye: Mayor Bill Boineau, John Wilkinson, Markey Butler, and John Dresser, Town Attorney. ., Voting Nay: None. John Wilkinson made the motion to approve GID Board Chair and the Town Attorney requested that all references as Mayor be changed to GID Chair and all references to Town Council throughout this set of minutes be changed to GID Board. GID Board Member Wilkinson made a motion to approve the GID meeting minutes as amended for December 7, 2009. Mayor Bill Boineau seconded the motion. The motion was approved by a vote of 4 in favor to 0 opposed. Voting Aye: Mayor Bill Boineau, John Wilkinson, Markey Butler, and John Dresser, Town Attorney. Voting Nay: None. Item No. 5: GID MEETING ADJOURNMENT At 5:45 p.m.Amold Mordkin made the motion to adjourn the GID meeting of April 19, 2010, seconded by John Wilkinson. The motion was approved by a vote of 4 in favor to 0 opposed. Reed Lewis was absent. Voting Aye: Mayor Bill Boineau, John Wilkinson, Markey Butler, John Dresser, Town Attorney, and Arnold Mordkin. Voting Nay: None. Respectfully Submitted by: Donna J. Garcia, CMC Deputy Town Clerk