Vail to talk housing, parking
VAIL, Colorado ” The town of Vail will decide Tuesday if it wants to proceed with a $38.5 million transit center-affordable housing project in collaboration with Vail Resorts at the so-called “North Day Lot.”
The town would pay $18.6 to cover the transit center and other improvements. Vail Resorts would pay $19.6 million for the 120 affordable housing beds as well as skier dropoff spots, which satisfy requirements associated with the Arrabelle at Vail Square.
Possible funding sources for the town include a $1.4 million grant from the Federal Transit Administration, $12 million in bonds from the Vail Reinvestment Authority and $5.2 million from accumulated Vail Reinvestment Authority cash. Construction would begin in April 2010 and last 22 months.
The North Day Lot, owned by Vail Resorts, is at the intersection of South Frontage Road and West Lionshead Circle.
Neighbors have objected to the noise, smells and light they say the transit center would create.
The meeting begins at 6 p.m. at the Vail Municipal Building. The item is listed fifth on the agenda. Site plans are available on the town’s Web site at vailgov.com. To comment in advance, e-mail firstname.lastname@example.org or call the Town Council’s voicemail at 479-1860, ext. 8.