Government Tracker: Avon OKs payment deferral
Vail, CO Colorado
Board: Avon Town Council, Dec. 11 liquor board and regular evening meeting.
Present: Jake Wolf, Dave Dantas, Chris Evans, Todd Goulding, Jennie Fancher, Buz Reynolds, Mayor Rich Carroll.
Issue: Show cause hearing for China Garden restaurant. Avon police earlier this year issued a citation to the restaurant’s owners for serving and underage customer. It was the restaurant’s first violation in its 24 years of business in Avon.
What happened: The council unanimously voted to issue the restaurant a warning, with no other punishment.
Issue: Request from the EagleBend Housing Corporation to defer a payment to the town.
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Who they talked to: Town finance director Scott Wright, Gerry Flynn of Eaglebend.
What they talked about: Eaglebend requested, for the second year, that it defer a payment to the town of about $10,000. The complex makes annual payments to the town based on the amount of revenue raised in a 2003 bond issue.
Flynn said the apartment complex had been less than fully leased in 2010. The complex is fully leased now, and is working to refinance its debt, which will reduce its annual bond payments by about 40 percent.
“This is not a permanent situation,” Flynn said. “When we do get it fixed, we expect to to catch up on our 2011 and 2012 payments.”
What they did: The council voted 6-0, with Evans recused, to approve the deferral.
Issue: Update on the town’s settlement agreement with the developers of the Village at Avon project.
Who they talked to: Town attorney Eric Heil.
What they talked about: Heil told the council that the deadlines have come and gone for residents to challenge either the ordinance that’s the keystone of the settlement or the settlement agreement itself. That means the town and developers can finish the settlement, which was first announced in October of 2011.
Heil also said that District Judge Tom Morehead has vacated a Jan. 6 trial date for the long-running legal dispute between the town and the developers.
With those milestones met, Heil said it’s still going to take a few months before the agreement is finished, and debt can be issued to build a 2 million gallon water storage tank on the property. That water tank must be built before anything else can be built at the Village at Avon.
What’s next? More legal paperwork. Heil said it could be March 1 before bonds for the water tank may be ready to sell to investors.
Scott N. Miller