Minutes of the Regular Meeting Of the Board of Directors Arrowhead Metropolitan District January 25, 2017 A Regular Meeting of the Board of Directors of the Arrowhead Metropolitan District, Eagle County, Colorado, was held on January 25, 2017, at 3:00 p.m., at the offices of Marchetti & Weaver, LLC, 28 Second Street, Suite 213, Edwards, Eagle County, Colorado, in accordance with the applicable statutes of the State of Colorado. Attendance The following Directors were present and acting: Dick Bourret (via Telephone) Chris Madon Bob Rosen Thomas Svoboda The following Directors were absent and excused: Bob Shafer Also in attendance were: Jerry Hensel, Operations Rick Bross, Arrowhead at Vail Geoff Dreyer, UERWA Representative Ken Marchetti, Marchetti & Weaver, LLC Matt Jones, Marchetti & Weaver, LLC Call To Order The Regular Meeting of the Board of Directors of Arrowhead Metropolitan District was called to order by Chairman Madon on January 25, 2017, at 3:30 p.m. noting a quorum was present. Consideration of Changes To the Agenda No Changes. Public Input Minutes No Public The Board reviewed the minutes of the December 7, 2016 Regular Meeting, December 14,2016, January 6,2017 and January 19,2017 Special Meetings. -1-
RESOLVED to approve the December 7, 2016 Regular Meeting, December 14, 2016, and January 19, 2017 Special Meetings as presented. FURTHER RESOLVED to approve the January 6, 2017 Special Meeting minutes with a few clarifications from Director Rosen. Accounts Payable The Board reviewed the accounts payable list that was passed out at the meeting. 2017 Meeting Calendar RESOLVED to approve payment ofthe items on the accounts payable list as presented. The Board reviewed the proposed 2017 meeting Calendar. The Board would like to postpone the March meeting and hold it on April 5 th in order to receive back the road overlay bids. The April 5 th meeting will then serve as the April meeting. RESOLVED to approve the 2017 Board Meeting Calendar with meetings scheduled for the fourth Wednesday ofeach month except March, April, November and December. In lieu ofthe regular March and April meetings one meeting will be held on April 5 th. The November and December meetings will be held on the third Wednesday. 24 Hour Posting Location The Board reviewed the resolution for posting notices for meetings for 2017 noting that the "24 hour" notice will be posted at Country Club ofthe Rockies and that the "72 hour" notices will be posted in three places within the District and at the office ofthe County Clerk and Recorder. By motion duly made and seconded it was unanimously RESOLVED to approve the resolution for posting notices for 2017 meetings. The Board briefly discussed the locations ofthe 3 normal meeting notices posting. Mr. Jones reported that the meeting notice locations are the front gate and one - 2 -
posting inside Country Club ofthe Rockies and one posting inside the Alpine Club. Financial Statements Mr. Marchetti briefly presented the November 30,2016 financial statements. Mr. Marchetti reported that there weren't any further changes to the forecast after the 2017 budget was approved. The Board reviewed the forecasted ending fund balance and the beginning 2017 balances. Mr. Jones reported that there was a change in the ending fund balance due to moving the bond refunding from 2016 to 2017. Mr. Marchetti reported that he would like for the Board to approve moving the bond transaction from 2016 to the 2017 budget. RESOLVED to approve moving the bond refinancing from the 2016 forecast in to the 2017 budget. Transportation Mr. Hensel reported that ridership numbers will be complete in April but he did have the ridership through January 15 th compared to last season. Arrowhead diala-ride was up 3.2%, Arrowhead to Beaver Creek ridership was pretty much flat and the Arrowhead to Vail ridership was up about 6%. The Board briefly reviewed the ridership numbers. Operations Mr. Hensel reported that at the last meeting he had been requested to provide the scope of services for the Operations ofarrowhead Metropolitan Districts that Vail Resorts provide. Mr. Hensel passed out the operations agreement, scope of services and backup detail for expenses incurred. The Board reviewed Exhibit A from the Operations agreement in detail. The Board also reviewed the municipal services spreadsheet that breaks down the labor for Operations. The Board had several questions on the road snowplowing schedule and average number of workers each day. Mr. Hensel estimated $1,200 - $1,500 per day to plow all of the roads in Arrowhead. Arrowhead at Vail Association Chairman Matlon asked that the Board review the information and have Mr. Jones add the operations backup from Mr. Hensel in to the February board pack for further review. - 3 -
Mr. Bross reported that he had been elected as the president ofthe AVA board at the Associations annual meeting December of 20 16. It was reported that AVA missed their budget by $90,000 which was mainly due to having a shortfall in RITA revenue of $330,000. The Association was able to make up the difference by deferring expenses. UERWA Geoff Dreyer gave a brief report regarding activity at the Upper Eagle Regional Water Authority including: The town ofavon approved a new hotel in the building where the Eagle County Annex office is located. The Authority has confirmed that the water that all authority owners use is safe for usage but lead & copper sampling has shown that lead within old home piping could still cause high readings. Traer Creek Tank parties are still working on a solution and might choose mediation to come to a solution for the failed tank. Snowpack is up significantly across the state Action Log Executive Session The Board reviewed the current action log. By motion duly made and seconded it was unanimously RESOLVED to enter into executive session at 4:45 p.m. pursuant to C.R.S. 24-6-402(4)(e), for the purpose ofdetermining positions relative to matters that may be subject to negotiations, developing strategy for negotiations, and instructing negotiators. The board adjourned from executive session at 5:05 p.m. Adjournment There being no further business to come before the Board, by motion duly made and seconded it was unanimously. RESOLVED to adjourn the Regular Meeting ofthe Arrowhead Metropolitan District Board ofdirectors this 25 th day ofjanuary, 2017. - 4 - Matt Jones
Secretary for the Meeting - 5 -