ANNUAL MEETING

AUGUST 11, 2016

MINUTES

Directors Present: Joe Farrell,Alex Loeffler, Jenny Cooper, Ryan Kalamaya

Others Present: Paul Taddune, Association attorney, Donna Aiken, Association Administrator

After determining a quorum via members present and proxies, President Joe Farrell called the meeting to order at 4:00 p.m. Joe introduced board members present and recognized the accomplishments of the late Rick Griffin.

Aspen Ski Company Speakers--Joe then introduced Steve Sewell, Snowmass Mountain Manager. Steve presented a slide showing summer activities happening on the mountain. He reported that the remodeling of the High Alpine and Gwen’s restaurants willfinish and reopening in mid-December. Steve showed proposed plans for on mountain improvements for next summer. Fiftymiles of mountain biking trails are planned for all levels of riders but will not compromise the hiking trails. Achallenge course is being designed, including various levels for adults and children, natural zip lines and a climbing wall in the Elk Camp area. An alpine coaster is being planned for 450 vertical feet. All these improvements will be presented to the Forest Service in March. Steve addressed concerns regarding noise, environmental and fiscal impacts.

Don Schuster, Aspen Ski Company Vice President of hospitality gave a brief update on the progress thus far on the proposed Limelight hotel. Because of pending lawsuits and agreements between the Town and Related, he could not comment on Base Village at this time, but stated the Ski Company was still in negotiations to buy lot 2. Don showed slides of the proposed plans for the Limelight that will include 102 hotel rooms, top floor residential units and 15 condominiums. The Snowmass Mountain Club will be housed on the bottom floor, and a conference area that could accommodate 2,000 people is planned. A winter ice rink and summer plaza which could provide space for outdoor movies, events, farmers markets, etc. is included in the scope of the project. Don also said the Fanny Hill Townhome project is still on the radar and is undergoing a redesign with a hopeful finish date for 2019.

Town Manager Clint Kinney and Recreation Director Andy Worline gave an update regarding things happening in Snowmass. Clint reported that sales tax in June was up by 13% from last year, and winter sales tax was also up even though the winter was lack luster. The Town Council directed staff to develop a connectivity capital plan, review the employee housing

Annual Meeting Minutes

August 11, 2016

Page 2

inventory, and work on arts projects for the Village. The Comprehensive Plan which is the vision for Snowmass for the next 10 to 20 years will be reviewed again in 2017, and the Town will be seeking input from residents and second homeowners on the future of Snowmass.

Clint said the roundabout will be finished by November 1st, and though it was difficult during the initial construction, he appreciated the patience shown by all. The mini round about on Wood Road is scheduled to start in September but the traffic impacts will be less onerous. The Town has a very interactive website that has construction updates along with all Town news at tosv.com.

Other topics Clint touched on were the election for mayor and two council seats this November. It will be known in a few weeks who will be running for these offices. There are ten agreements between Related and the Town to get Base Village back on track, nine of which are completed and one more to get done. He is hopeful this will all be settled in the fall.

Andy addressed the POSTR plan regarding trails and connectivity between the Mall, the Center and Base Village, including sidewalks, road crossings and how trails interrelate to get people where they want to go. A letter was sent to homeowners asking for input and all the information has been compiled into a draft report that will be available on the Town website, tosv.com on September 6th.

John Mele, Fire Marshall gave a brief overview of the fire mitigation program that started last year in Wildridge and Wildoak and continued in the Ridgerun area this summer. First he introduced Scott Thompson, Fire Chief, Kevin Issel, Deputy Fire Chief and Tom Newland, consultant. John said the Town, the Homeowners Association and Fire District has partnered withthe Stemmons Foundation to clear 64 acres of the Association common areas of standing dead trees. During the process, private homeowners were encouraged to work on their own lots. Twenty-six owners hired the crew at very reasonable rates, and had the dead standing removed from their property. Fire mitigation is an on-going process and John is hoping to encourage even more owners to participate next year. He also mentioned that the County is doing an experimental chipping project in the Melton area, and if successful may continue next year. John said he would be glad to speak with any interested homeowner in protecting their property and could be reached at the Fire Station.

John then introduced Tom Newland, consultant on the proposed fire station replacement project. Tom said the present building is over 40 years old and is basically falling down because of many structural problems. The District is approximately 24 miles and serves 20,000 people. He showed slides of the proposed building and stated the target completion date is 2018. The District board has voted to go to the voters this fall with a bond issue that would increase a

Annual Meeting

August 11, 2016

Page 3

homeowner’s tax to approximately $88 per $500,000 assessed valuation. The pros of a new facility would include reducing operating costs, attracting qualified personnel, better response

times, safer environment for firefighters, etc. The bond issue will be on November’s ballot and he hoped for everyone’s support.

Joe thanked all the speakers for their time and great information.

Budget: A motion was made to approve 2016/2017 budget as presented. The motion was seconded. Joe asked for any discussion. There being none, the budget was approved. The 2016/2017 assessment would remain at $90 per year.

Election of Board Members: Jenny Cooper and Marcy Gross were nominated for another term. Joe asked for nominations from the floor. Gus Oliver was nominated and added to the slate. It was moved that Jenny, Marcy, and Gus be elected. The motion was seconded and approved.

New business: Joe said that a lot of information was being forwarded to homeowners via

e-mail, so if you were not on the list, please get in touch with Donna to get on the list. The Association e-mail is . The Association also has a website where information is also posted, snowmasshomeowners.com.

Sean Sunkel asked if the Association could do anything to help get improved cell service in the Two Creeks/Pines area. There was discussion on various avenues and Clint Kinney volunteered to help Sean in this endeavor.

There being no further business, the meeting was adjourned at 5:45 p.m.