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HomeMy Public PortalAboutTBP 2023-09-20Board of Trustees Workshop and Regular Meeting Agenda Fraser Town Hall, 153 Fraser Avenue and Virtually Wednesday September 20, 2023 6:00 PM - 9:00 PM Members of the Board may have dinner together @ 5:30 p.m. NOTE: Times are approximate and agenda subject to change Watch the meeting live on Fraser's YouTube Channel https://www.youtube.com/channel/UCs5aHnl7d -kk0j1cxV28DSg Participate in the meeting through our virtual platform Zoom Meeting Information https://us02web.zoom.us/j/2590408013 Meeting ID:259 040 8013 Phone 1 -346 -248 -7799 Workshop - Downtown Fraser Vision The workshop will take place at the proposed site of the Fraser Center for the Creative Arts on Clayton Court. Roll Call Approval Of Agenda Consent Agenda Minutes September 6, 2023 TBM 2023 -09 -06.Pdf Sign In Sheet September 6, 2023.Pdf Resolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 & 7 Resolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 And 7.Pdf Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector .Pdf Resolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Filing 2 Parcel 2, Mill Ave Apartments Resolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Finling 2 Parcel 2, Mill Ave Apartments.pdf Open Forum a. Business not on the agenda (If you would like to request time on a future agenda please contact the Town Clerk) US Forrest Service Update - Eric Freels 2022 Audit - Paul Backes 2022 Town Of Fraser Board Letter (FINAL).Pdf 2022 Town Of Fraser Audited Financial Statements.pdf Continued Public Hearing And Possible Action Amending Chapter 19 Of The Fraser Municipal Code Removing The Riverwalk Mixed Use Overlay District, Adding The Riverwalk District, And Requiring Ground Floor Commercial Along Highway 40 And Clayton Court In The New District - Will Charles Baseline 00 TB Staff Report -RMU To RW.pdf 01 PC Resolution 2023 -08 -02 Recommending Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf 02 Draft Code Amendment.pdf Ordinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial - Will Baseline Ordinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf Discussion And Possible Action Regarding Parking Study Scope - Sarah C Parking Scope Staff Briefing.pdf Treasurer's Report - Laurie Treasurers Report 092023.Pdf Trustee Health Insurance - Laurie CEBT Open Enrollment 2024 - BOD Presentation.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement - Michael Staff Briefing Town Of Fraser Fund.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement.pdf Fraser DAF Agreement 2024.Pdf TOF Awarded Grants 2014 -2023.Pdf Updates Update Capital Improvement Projects - Paul Winter Park Film Festival Thank You - Sarah W Winter Park Film Festival Thank You.pdf Adjourn UPCOMING MEETING WEDNESDAY, OCTOBER 4, 2023 BOARD OF TRUSTEES Please contact the Town Clerk to request accommodations to assist people with disabilities to participate in public meetings. Listening devices for people with hearing impairment are available upon request. Town Clerk, Antoinette McVeigh 970 -531 -9943 or amcveigh@town.fraser.co.us 1.6:00 P.M. 2.7:00 P.M. 3. 4. a. Documents: b. Documents: c. Documents: d. Documents: 5. 6. 7. Documents: 8. a. Documents: a.i. Documents: 9. a. Documents: b. Documents: c. Documents: d. Documents: 10. a. b. Documents: 11. Board Staff Direct : Define the service, product or value to be delivered Lead : Future focused planning Protect : Establish the operational boundaries to be respected by Staff and monitored by the Board Manage : Now focused policy and procedural guidance to ensure on time, on budget, and on target service delivery Enable : Advocacy, resource development, and role discipline Accomplish : Ensure the work defined by the direction of the Board of Trustees is accomplished Board of Trustees Workshop and Regular Meeting Agenda Fraser Town Hall, 153 Fraser Avenue and Virtually Wednesday September 20, 2023 6:00 PM - 9:00 PM Members of the Board may have dinner together @ 5:30 p.m. NOTE: Times are approximate and agenda subject to change Watch the meeting live on Fraser's YouTube Channel https://www.youtube.com/channel/UCs5aHnl7d -kk0j1cxV28DSg Participate in the meeting through our virtual platform Zoom Meeting Informationhttps://us02web.zoom.us/j/2590408013 Meeting ID:259 040 8013 Phone 1 -346 -248 -7799Workshop - Downtown Fraser VisionThe workshop will take place at the proposed site of the Fraser Center for the Creative Arts on Clayton Court.Roll CallApproval Of AgendaConsent AgendaMinutes September 6, 2023TBM 2023 -09 -06.PdfSign In Sheet September 6, 2023.PdfResolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 & 7 Resolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 And 7.Pdf Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector .Pdf Resolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Filing 2 Parcel 2, Mill Ave Apartments Resolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Finling 2 Parcel 2, Mill Ave Apartments.pdf Open Forum a. Business not on the agenda (If you would like to request time on a future agenda please contact the Town Clerk) US Forrest Service Update - Eric Freels 2022 Audit - Paul Backes 2022 Town Of Fraser Board Letter (FINAL).Pdf 2022 Town Of Fraser Audited Financial Statements.pdf Continued Public Hearing And Possible Action Amending Chapter 19 Of The Fraser Municipal Code Removing The Riverwalk Mixed Use Overlay District, Adding The Riverwalk District, And Requiring Ground Floor Commercial Along Highway 40 And Clayton Court In The New District - Will Charles Baseline 00 TB Staff Report -RMU To RW.pdf 01 PC Resolution 2023 -08 -02 Recommending Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf 02 Draft Code Amendment.pdf Ordinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial - Will Baseline Ordinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf Discussion And Possible Action Regarding Parking Study Scope - Sarah C Parking Scope Staff Briefing.pdf Treasurer's Report - Laurie Treasurers Report 092023.Pdf Trustee Health Insurance - Laurie CEBT Open Enrollment 2024 - BOD Presentation.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement - Michael Staff Briefing Town Of Fraser Fund.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement.pdf Fraser DAF Agreement 2024.Pdf TOF Awarded Grants 2014 -2023.Pdf Updates Update Capital Improvement Projects - Paul Winter Park Film Festival Thank You - Sarah W Winter Park Film Festival Thank You.pdf Adjourn UPCOMING MEETING WEDNESDAY, OCTOBER 4, 2023 BOARD OF TRUSTEES Please contact the Town Clerk to request accommodations to assist people with disabilities to participate in public meetings. Listening devices for people with hearing impairment are available upon request. Town Clerk, Antoinette McVeigh 970 -531 -9943 or amcveigh@town.fraser.co.us 1.6:00 P.M.2.7:00 P.M.3.4.a.Documents:b. Documents: c. Documents: d. Documents: 5. 6. 7. Documents: 8. a. Documents: a.i. Documents: 9. a. Documents: b. Documents: c. Documents: d. Documents: 10. a. b. Documents: 11. Board Staff Direct : Define the service, product or value to be delivered Lead : Future focused planning Protect : Establish the operational boundaries to be respected by Staff and monitored by the Board Manage : Now focused policy and procedural guidance to ensure on time, on budget, and on target service delivery Enable : Advocacy, resource development, and role discipline Accomplish : Ensure the work defined by the direction of the Board of Trustees is accomplished Board of Trustees Workshop and Regular Meeting Agenda Fraser Town Hall, 153 Fraser Avenue and Virtually Wednesday September 20, 2023 6:00 PM - 9:00 PM Members of the Board may have dinner together @ 5:30 p.m. NOTE: Times are approximate and agenda subject to change Watch the meeting live on Fraser's YouTube Channel https://www.youtube.com/channel/UCs5aHnl7d -kk0j1cxV28DSg Participate in the meeting through our virtual platform Zoom Meeting Informationhttps://us02web.zoom.us/j/2590408013 Meeting ID:259 040 8013 Phone 1 -346 -248 -7799Workshop - Downtown Fraser VisionThe workshop will take place at the proposed site of the Fraser Center for the Creative Arts on Clayton Court.Roll CallApproval Of AgendaConsent AgendaMinutes September 6, 2023TBM 2023 -09 -06.PdfSign In Sheet September 6, 2023.PdfResolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 & 7Resolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 And 7.PdfResolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector .PdfResolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Filing 2 Parcel 2, Mill Ave ApartmentsResolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Finling 2 Parcel 2, Mill Ave Apartments.pdfOpen Foruma. Business not on the agenda (If you would like to request time on a future agenda please contact the Town Clerk)US Forrest Service Update - Eric Freels2022 Audit - Paul Backes2022 Town Of Fraser Board Letter (FINAL).Pdf2022 Town Of Fraser Audited Financial Statements.pdfContinued Public Hearing And Possible ActionAmending Chapter 19 Of The Fraser Municipal Code Removing The Riverwalk Mixed Use Overlay District, Adding The Riverwalk District, And Requiring Ground Floor Commercial Along Highway 40 And Clayton Court In The New District - Will Charles Baseline00 TB Staff Report -RMU To RW.pdf01 PC Resolution 2023 -08 -02 Recommending Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf02 Draft Code Amendment.pdfOrdinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial - Will Baseline Ordinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf Discussion And Possible Action Regarding Parking Study Scope - Sarah C Parking Scope Staff Briefing.pdf Treasurer's Report - Laurie Treasurers Report 092023.Pdf Trustee Health Insurance - Laurie CEBT Open Enrollment 2024 - BOD Presentation.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement - Michael Staff Briefing Town Of Fraser Fund.pdf Resolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement.pdf Fraser DAF Agreement 2024.Pdf TOF Awarded Grants 2014 -2023.Pdf Updates Update Capital Improvement Projects - Paul Winter Park Film Festival Thank You - Sarah W Winter Park Film Festival Thank You.pdf Adjourn UPCOMING MEETING WEDNESDAY, OCTOBER 4, 2023 BOARD OF TRUSTEES Please contact the Town Clerk to request accommodations to assist people with disabilities to participate in public meetings. Listening devices for people with hearing impairment are available upon request. Town Clerk, Antoinette McVeigh 970 -531 -9943 or amcveigh@town.fraser.co.us 1.6:00 P.M.2.7:00 P.M.3.4.a.Documents:b.Documents:c.Documents:d.Documents:5.6.7.Documents:8.a.Documents:a.i. Documents: 9. a. Documents: b. Documents: c. Documents: d. Documents: 10. a. b. Documents: 11. Board Staff Direct : Define the service, product or value to be delivered Lead : Future focused planning Protect : Establish the operational boundaries to be respected by Staff and monitored by the Board Manage : Now focused policy and procedural guidance to ensure on time, on budget, and on target service delivery Enable : Advocacy, resource development, and role discipline Accomplish : Ensure the work defined by the direction of the Board of Trustees is accomplished Board of Trustees Workshop and Regular Meeting Agenda Fraser Town Hall, 153 Fraser Avenue and Virtually Wednesday September 20, 2023 6:00 PM - 9:00 PM Members of the Board may have dinner together @ 5:30 p.m. NOTE: Times are approximate and agenda subject to change Watch the meeting live on Fraser's YouTube Channel https://www.youtube.com/channel/UCs5aHnl7d -kk0j1cxV28DSg Participate in the meeting through our virtual platform Zoom Meeting Informationhttps://us02web.zoom.us/j/2590408013 Meeting ID:259 040 8013 Phone 1 -346 -248 -7799Workshop - Downtown Fraser VisionThe workshop will take place at the proposed site of the Fraser Center for the Creative Arts on Clayton Court.Roll CallApproval Of AgendaConsent AgendaMinutes September 6, 2023TBM 2023 -09 -06.PdfSign In Sheet September 6, 2023.PdfResolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 & 7Resolution 2023 -09 -05 Surety Reduction For Elk Creek Condominiums At Grand Park Phase 4 Lots 6 And 7.PdfResolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector Resolution 2023 -09 -06 Surety Reduction For Grand Park Drive Connector .PdfResolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Filing 2 Parcel 2, Mill Ave ApartmentsResolution 2023 -09 -07 Surety Reduction For Water And Sewer Infrastructure Byers Peak Ranch Finling 2 Parcel 2, Mill Ave Apartments.pdfOpen Foruma. Business not on the agenda (If you would like to request time on a future agenda please contact the Town Clerk)US Forrest Service Update - Eric Freels2022 Audit - Paul Backes2022 Town Of Fraser Board Letter (FINAL).Pdf2022 Town Of Fraser Audited Financial Statements.pdfContinued Public Hearing And Possible ActionAmending Chapter 19 Of The Fraser Municipal Code Removing The Riverwalk Mixed Use Overlay District, Adding The Riverwalk District, And Requiring Ground Floor Commercial Along Highway 40 And Clayton Court In The New District - Will Charles Baseline00 TB Staff Report -RMU To RW.pdf01 PC Resolution 2023 -08 -02 Recommending Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdf02 Draft Code Amendment.pdfOrdinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial - Will BaselineOrdinance No. 501 Removing RWMU, Adding Riverwalk District And Requiring Ground Floor Commercial.pdfDiscussion And Possible Action RegardingParking Study Scope - Sarah CParking Scope Staff Briefing.pdfTreasurer's Report - LaurieTreasurers Report 092023.PdfTrustee Health Insurance - LaurieCEBT Open Enrollment 2024 - BOD Presentation.pdfResolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement - MichaelStaff Briefing Town Of Fraser Fund.pdfResolution 2023 -09 -08 Town Of Fraser Fund A Donor Advised Fund Of The Grand Foundation Agreement.pdfFraser DAF Agreement 2024.PdfTOF Awarded Grants 2014 -2023.PdfUpdatesUpdate Capital Improvement Projects - PaulWinter Park Film Festival Thank You - Sarah WWinter Park Film Festival Thank You.pdfAdjournUPCOMING MEETINGWEDNESDAY, OCTOBER 4, 2023 BOARD OF TRUSTEES Please contact the Town Clerk to request accommodations to assist people with disabilities to participate in public meetings. Listening devices for people with hearing impairment are available upon request. Town Clerk, Antoinette McVeigh 970 -531 -9943 or amcveigh@town.fraser.co.us 1.6:00 P.M.2.7:00 P.M.3.4.a.Documents:b.Documents:c.Documents:d.Documents:5.6.7.Documents:8.a.Documents:a.i.Documents:9.a.Documents:b.Documents:c.Documents:d.Documents:10.a.b.Documents:11.Board Staff Direct : Define the service, product or value to be delivered Lead : Future focused planning Protect : Establish the operational boundaries to be respected by Staff and monitored by the Board Manage : Now focused policy and procedural guidance to ensure on time, on budget, and on target service delivery Enable : Advocacy, resource development, and role discipline Accomplish : Ensure the work defined by the direction of the Board of Trustees is accomplished FRASER BOARD OF TRUSTEES MINUTES DATE:August 6, 2023 MEETING:Board of Trustees Regular Meeting PLACE:Fraser Town Hall Board Room and Virtually PRESENT Board:Mayor Philip Vandernail; Mayor Pro-Tem Eileen Waldow; Trustees; Brian Cerkvenik, Kaydee Fisher, Parnell Quinn and, Katie Soles Staff:Town Manager, Michael Brack; Town Clerk, Antoinette McVeigh; Deputy Town Clerk Leslie Crittenden; Finance Director, Laurie Waters; Public Works Director, Paul Johnson; Marketing and Communications Manager, Sarah Wieck; Town Planner, Garrett Scott; Police Chief Glen Trainor Others:Virtually Beth-Ann Eason, Barry Young, Debbie, Erin Nicholas, Nicole Spiteri, Bob York, Sue Colburn, Clark Lipscomb, Jenna Mayor Vandernail called the meeting to order at 6:03 p.m. 1.Rollcall: Mayor Philip Vandernail; Mayor Pro-Tem Eileen Waldow; Trustees; Brian Cerkvenik, Kaydee Fisher, Parnell Quinn and, Katie Soles 2.Approval of Agenda: Trustee Quinn moved, and Trustee Cerkvenik seconded the motion to approve the amended agenda removing discussion item b Resolution 2023-09-03 Contract with Conroy Lion’s Ponds Bathroom Utility Infrastructure and move Mural Fest Update to item #5. Motion carried: 6-0. 3.Consent Agenda: a)Minutes August 16, 2023 Trustee Soles moved, and Trustee Cerkvenik seconded the motion to approve the consent agenda. Motion carried: 6-0. 4. Open Forum: none 5.Mural Festival Update: Marketing and Communications Manager, Sarah Wieck presented to the board. She encouraged the board to complete the Mural Fest survey. 6.Fraser Donor Advised Fund Grant Administration: The board has a consensus to move forward with the Grand Foundation Grant Administration. The Contract will be presented at the next meeting. 7.Public Hearing: Page 2 of 3 a)Amending Chapter 19 Of the Fraser Municipal Code Removing the Riverwalk Mixed Use Overlay District, Adding the Riverwalk District, And Requiring Ground Floor Commercial Along Highway 40 And Clayton Court in The New District Will Charles from Baseline presented to the Board. Proof of publication was provided in the packet. Mayor Vandernail opened the public hearing. Public Comment was taken from Kevin Rifkin, Tony Eason, Sue Coburn Trustee Soles moved, and Trustee Waldow seconded the motion to continue the public hearing. Motion carried 6-0. ai)Ordinance No. 501 Removing RWMU, Adding Riverwalk District and Requiring Ground Floor Commercial No action. Trustee Quinn moved and Trustee Waldow seconded the motion to suspend the Board of Trustees meeting and Open the Liquor and Beer Licensing Authority. Motion carried: 6-0. 8.Liquor And Beer Licensing Authority: Public Hearing and Possible Action ai)Birdie Lounge Liquor License Application Town Clerk McVeigh presented to the Board. Proof of publication was provided in the packet. Town Attorney opened the public hearing. Town Clerk swore in the applicant Bridget Christenson, and she presented and answered questions. No Public Comment was taken. Town Attorney Whitmer closed the public hearing. aii)Resolution 2023-09-01 Approving Tavern Liquor License Application for The Birdie Lounge LLC Trustee Soles moved, and Trustee Quinn seconded the motion to approve Resolution 2023-09-01 Approving Tavern Liquor License Application for The Birdie Lounge LLC. Motion carried: 6-0. Trustee Soles moved and Trustee Quinn seconded the motion to resume the Board of Trustees meeting and close the Liquor and Beer Licensing Authority. Motion carried: 6- 0. 9.Discussion and Possible Action: Page 3 of 3 a)Resolution 2023-09-02 Approving Major Site Plan for Wapiti Vista Townhomes, 832 Wapiti Drive Alyssa Rivas Baseline presented to the Board. Trustee Cerkvenik moved, and Trustee Quinn seconded the motion to approve Resolution 2023-09-02 Approving Major Site Plan for Wapiti Vista Townhomes, 832 Wapiti Drive Motion carried: 6-0. b)Resolution 2023-09-04 Referring A Proposed Sale of Property Owned by The Town of Fraser and Currently Used for Park Purposes to An Election Public Comment was taken from Philip Sargent, Kevin Rifkin, Ken Jensen, Beth-Ann Eason, Paula Stewart, Jamie Jensen, Linda Davis, and Barry Young Trustee Soles moved, and Trustee Quinn seconded the motion to approve Resolution 2023-09-04 Referring A Proposed Sale of Property Owned by The Town of Fraser and Currently Used for Park Purposes to An Election Motion carried: 4-2, Nay Vandernail and Waldow. c)Public Art Committee Application Trustee Soles moved, and Trustee Cerkvenik seconded the motion to appoint Anastasia Cesnik to the Public Art Committee. Motion carried: 6-0. d)2024 Budget Committee Appointment The Board voted on the 2024 Budget Committee Appointment. Trustee Cerkvenik Yae, Fisher, Waldow, Vandernail, Quinn, Cerkvenik and Soles Trustee Quinn Yea, Fisher, Waldow, Vandernail, Quinn, Cerkvenik Nay Soles Trustee Gregory Yea, Soles Nay Fisher, Waldow, Vandernail, Quinn, Cerkvenik Trustees Cerkvenik and Quinn will serve on the 2024 Budget Committee. 10.Updates a)Basalt Colorado Association of Ski Towns Conference Recap Trustee Soles and Town Manager Brack updated the board. b)Town Manager Brack, Thanked Deputy Clerk Crittenden. Her last day will be September 22, or later. c)Trustee Cerkvenik will be at the State Transit Advisory Committee meeting September 7. 11.Adjourn: Trustee Soles moved, and Trustee Cerkvenik seconded the motion to adjourn. Motion carried: 6-0. Meeting adjourned at 9:15 p.m. _____________________________ Antoinette McVeigh, Town Clerk TOWN BOARD REGULAR MEETING REGISTRATION SHEET September 6, 2023 The Public Forum is an opportunity for the public to present their concerns and recommendations regarding Town Government issues to the Town Board. Those wishing to address the Town Board will be allowed a three -minute presentation. A maximum of six (6) people will be allowed to address the Town Board at each Public Forum. If a topic that you wish to discuss has been scheduled for a formal Town Board Meeting, we would ask that you reserve your remarks for that specific date and time. Topics that are in litigation with the Town will not be heard during this forum. All presenters are urged to: (1) state the concern; and (2) list possible solutions. Please keep the following guidelines in mind: • Remarks that discriminate against anyone or adversely reflect upon the race, color, ancestry, religious creed, national origin, political affiliation, disability, sex, or marital status of any person are out of order and may end the speaker's privilege to address the Board. • Defamatory or abusive remarks or profanity are out of order and will not be tolerated. Anyone attending Town Board meetings must sign in to ensure accurate records and minutes. Sign your name, address, and email on the sign in sheet. Thank you for your cooperation. NAME 1--(CvNi , so PHYSICAL ADDRESS 5_ vk 6ASS EMAIL ,;vim ( slt�--5 Qt I cy., � ec 3--:t1AIk evi 'd i 1 (t& tic i'f iv( c( (14,E J j .j-eieNtoilio i Or @ CA- arci- ibteikski.- 1 1_ \_,2„,;)7E7.5 ti mat Lc , C t .6-1 L x\ Kia-v -Nf P ) 7- i t t ti v ().. v\ i� � _ ---:. 1 �3v k c%� o+ Q. .{ (-74-tea---24---- 9/ 3" /K 5ai;-.7iirtaike5 '( , 6iii t.r U NAME PHYSICAL ADDRESS EMAIL rv,,, 4i, 22.43 (.v 32/7) k.., PI �£ „ /0 il‘r 1? ecItter f7 0,,..),,,,,,,, ....„ ‘ )1— - C G 1 3 (- (- , 11..-, .9. V lay C , : )::4h 2(( cr SZZ3 (T,befo c,5 Esc . '2,ffo2 vi Ma, J- Qlt 49 Q' C h,✓ [ 5''cn i uj F„, sir 8, !.‘„),. k? Lc...,„7 j,6'9 llilai! � c_J 1).v,/'5 ev a,IA ' ( I 1 ' .\CtAk)i‘ .4 C(.0 --S\ ?_? 5 v‘xii.J 5(Gt,;A-W_AI)A- 4 q'i Q 1= I TOWN OF FRASER RESOLUTION NO. 2023-09-05 A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR THE ELK CREEK CONDOMINIUMS AT GRAND PARK – LOT 6 & 7 WHEREAS, Grand Park Development, LLC and the Town of Fraser entered into a SIA, Reception #2022002240, to ensure completion of certain infrastructure and which SIA provides for reductions in surety requirements; and WHEREAS, Preliminary Acceptance was granted on September 18, 2023 which allows the developer to reduce the surety to 20% in accordance with the SIA NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: 1.The Town Board of Fraser, Colorado hereby authorizes a partial reduction in the surety required under the terms of Elk Creek Condominiums at Grand Park – Lot 6 & 7 SIA from $95,313 to $44,005.60. READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES THIS 20th DAY OF SEPTEMBER 2023. Votes in favor: ___BOARD OF TRUSTEES OF THE Votes opposed: ___TOWN OF FRASER, COLORADO Abstained: ___ BY: Mayor ATTEST: (S E A L) Town Clerk TOWN OF FRASER RESOLUTION NO. 2023-09-06 A RESOLUTION APPROVING FINAL REDUCTION IN THE SURETY PURSUANT TO THE FIRST AMENDMENT TO IMPROVEMENT AGREEMENT (IMPROVEMENT AGREEMENT) FOR GRAND PARK DRIVE CONNECTOR WHEREAS, Cornerstone Winter Park Holdings, LLC and the Town of Fraser entered into an IMPROVEMENT AGREEMENT, Reception #2022000990, to ensure completion of certain “punch list” items and which IMPROVEMENT AGREEMENT provides for reductions in surety requirements; and WHEREAS, Preliminary Acceptance was granted on September 18, 2023 which allows the developer to reduce the surety to 0% in accordance with the IMPROVEMENT AGREEMENT. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: 1.The Town Board of Fraser, Colorado hereby authorizes a reduction in the surety required under the terms of Grand Park Drive Connector IMPROVEMENT AGREEMENT from $200,650.00 to $0. READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES THIS 20th DAY OF SEPTEMBER 2023. Votes in favor: ___BOARD OF TRUSTEES OF THE Votes opposed: ___TOWN OF FRASER, COLORADO Abstained: ___ BY: Mayor ATTEST: (S E A L) Town Clerk TOWN OF FRASER RESOLUTION NO. 2023-09-07 A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO THE IMPROVEMENT AGREEMENT (AGREEMENT) FOR WATER AND SEWER INFRASTRUCTURE FOR BYERS PEAK RANCH FILING 2, PARCEL 2 WHEREAS, Byers Peak Properties, LLC and the Town of Fraser entered into an AGREEMENT, Reception #2020010292, to ensure completion of certain infrastructure and which AGREEMENT provides for reductions in surety requirements; and WHEREAS, Preliminary Acceptance was granted on August 31, 2023 which allows the developer to reduce the surety to 20% in accordance with the AGREEMENT. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: 1.The Town Board of Fraser, Colorado hereby authorizes a partial reduction in the surety required under the terms of Water and Sewer Infrastructure for Byers Peak Ranch Filing 2, Parcel 2 AGREEMENT from $500,000 to $100,000. READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES THIS 20th DAY OF SEPTEMBER 2023. Votes in favor: ___BOARD OF TRUSTEES OF THE Votes opposed: ___TOWN OF FRASER, COLORADO Abstained: ___ BY: Mayor ATTEST: (S E A L) Town Clerk McMahan and Associates, l.l.c. Certified Public Accountants and Consultants Web Site: www.mcmahancpa.com Chapel Square, Bldg C Main Office: (970) 845-8800 245 Chapel Place, Suite 300 Facsimile: (970) 845-8108 P.O. Box 5850, Avon, CO 81620 E-mail: mcmahan@mcmahancpa.com Member: American Institute of Certified Public Accountants Paul J. Backes, CPA, CGMA Avon: (970) 845-8800 Michael N. Jenkins, CA, CPA, CGMA Aspen: (970) 544-3996 Matthew D. Miller, CPA Frisco: (970) 668-3481 M & A The Honorable Mayor and Fraser Board of Trustees Town of Fraser P.O. Box 120 Fraser, Colorado 80442 We have audited the financial statements of the Town of Fraser for the year ended December 31, 2022. Professional standards require that we provide you with the following information related to our audit. Qualitative Aspects of Accounting Policies Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the Town of Fraser are described in the Notes to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during the year. We noted no transactions entered into during the year for which there is a lack of authoritative guidance or consensus. There are no significant transactions that have been recognized in the financial statements in a different period than when the transaction occurred. Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the financial statements were: Estimated useful lives for depreciation on fixed assets: Management’s estimate of useful lives is based on industry practice and experience. We evaluated the key factors and assumptions used to develop the useful lives used in determining depreciation and found that it is reasonable in relation to the financial statements taken as a whole. Estimated allowance for uncollectible accounts receivable ($0) at December 31, 2022 Management’s estimate is based on their experience with utility customers and developers, together with actual collections history since year-end. We believe this estimate is reasonable relative to the financial statements taken as a whole. Difficulties Encountered in Performing the Audit We encountered no significant difficulties in dealing with management in performing and completing our audit. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are trivial, and communicate them to the appropriate level of management. Management has corrected all such misstatements prior to reporting the Town’s year-end financial report. Town of Fraser Page 2 Corrected and Uncorrected Misstatements (continued) The following material misstatements were corrected by management prior to issuance of the audited financial statements: Adjust General Fund for purchase of Victoria Village. To accrue sales tax receivable, other taxes receivable and accrue expenses to accounts payable. To record prior year audit entries and reconcile beginning fund balance. Capitalize capital asset additions and record depreciation expense. Adjust Joint Facilities Fund reserve accounts for reserve activities. To record management fee and insurance allocations to the Joint Facilities Fund. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit. Management Representations As is required in an audit engagement we have requested certain representations from management that are included in the management representation letter. New Financial Reporting Standard Financial reporting standards for the Town are promulgated by the Governmental Accounting Standards Board (“GASB”), which has issued Statement No. 96, Subscription-Based Information Technology Arrangements (“GASB 96”). GASB 96 requires recognition of certain right-to-use subscription assets and corresponding subscription liabilities. GASB 96 is effective for reporting periods beginning after June 15, 2022 so the Town’s financial statements as of and for the year ending December 31, 2023 must reflect the changes imposed by this new reporting standard. We will work with you to support implementation of this new standard and the related presentation considerations over the coming years. This report is intended solely for the information and use of the Town Board, management, and others within the organization and is not intended to be, and should not be, used by anyone other than those specified parties. Sincerely, McMahan and Associates, L.L.C. Avon, Colorado June 26, 2023 Town of Fraser Fraser, Colorado Financial Statements December 31, 2022 i Town of Fraser, Colorado Financial Report December 31, 2022 Table of Contents Page INDEPENDENT AUDITOR'S REPORT A1 – A3 Management’s Discussion and Analysis B1 –B10 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position C1 Statement of Activities C2 Fund Financial Statements: Governmental Funds: Balance Sheet C3 Reconciliation of Governmental Fund Balance to Governmental Activities Net Position C4 Statement of Revenues, Expenditures and Changes in Fund Balances C5 Reconciliation of Net Change in Fund Balances to Change in Net Position of Governmental Activities C6 Business-Type Funds: Statement of Net Position -Enterprise Funds C7 Statement of Revenues, Expenses and Changes in Net Position - Enterprise Funds C8 Statement of Cash Flows -Enterprise Funds C9 Fiduciary Fund: Statement of Fiduciary Assets and Liabilities C10 Statement of Changes in Fiduciary Assets and Liabilities C11 Notes to the Financial Statements D1 – D28 Required Supplementary Information: Schedule of Revenues, Expenditures and Changes in Fund Balances -Budget (GAAP Basis) and Actual -General Fund E1 Schedule of Revenues -Budget (GAAP Basis) and Actual -General Fund E2 ii Town of Fraser, Colorado Financial Report December 31, 2022 Table of Contents (Continued) Page Required Supplementary Information (continued): Schedule of Expenditures and Transfers -Budget (GAAP Basis) and Actual -General Fund E3 Schedule of Revenues, Expenditures and Changes in Fund Balances -Budget (GAAP Basis) and Actual Conservation Trust Fund E4 Restricted Revenue Fund E5 Supplementary Information: Schedule of Revenues, Expenditures and Changes in Fund Balances –Budget (GAAP Basis) and Actual Debt Service Fund F1 Capital Projects Fund -Capital Equipment Replacement Fund F2 Schedule of Revenues, Expenditures and Changes in Net Position - Budget (Non-GAAP Basis) and Actual With Reconciliation to GAAP Basis Enterprise Fund -Water Fund F3 Enterprise Fund -Wastewater Fund F4 Agency Fund -JF Operations and Maintenance F5 Local Highway Finance Report F6 – F10 McMahan and Associates, l.l.c. Certified Public Accountants and Consultants Web Site: www.mcmahancpa.com Chapel Square, Bldg C Main Office: (970) 845-8800 245 Chapel Place, Suite 300 Facsimile: (970) 845-8108 P.O. Box 5850, Avon, CO 81620 E-mail: mcmahan@mcmahancpa.com Member: American Institute of Certified Public Accountants Paul J. Backes, CPA, CGMA Avon: (970) 845-8800 Michael N. Jenkins, CA, CPA, CGMA Aspen: (970) 544-3996 Matthew D. Miller,CPA Frisco: (970) 668-3481 A1 M & A INDEPENDENT AUDITOR'S REPORT To the Honorable Mayor and Board of Trustees Town of Fraser, Colorado Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Town of Fraser (the “Town”), as of and for the year ended December 31, 2022, and the related notes to the financial statements, which collectively comprise the Town’s basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Town as of December 31, 2022, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (“U.S. GAAS”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Town and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements The Town’s management is responsible for the preparation and fair presentation of the financial statements in accordance with U.S. GAAP, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Town’s ability to continue as a going concern for one year after the date that the financial statements are issued. INDEPENDENT AUDITOR’S REPORT To the Honorable Mayor and Board of Trustees Town of Fraser A2 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with U.S. GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with U.S. GAAS, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Town’s internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Town’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit. Required Supplementary Information U.S. GAAP require the Management’s Discussion and Analysis in section B, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with U.S. GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. INDEPENDENT AUDITOR'S REPORT To the Honorable Mayor and Board of Trustees Town of Fraser A3 Required Supplementary Information (continued) The budgetary comparison information in section E is not a required part of the basic financial statements but is supplementary information required by U.S. GAAP. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with U.S. GAAS. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. Supplementary Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Town’s basic financial statements. The individual fund budgetary comparison information in section F and the Local Highway Finance Report in section G, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The individual fund budgetary comparison information and the Local Highway Finance Report are the responsibility of management and were derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with U.S. GAAS. In our opinion, the information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. McMahan and Associates, L.L.C. Avon, Colorado June 26, 2023 MANAGEMENT’S DISCUSSION AND ANALYSIS B1 Town of Fraser, Colorado Management’s Discussion and Analysis December 31, 2022 As management of the Town of Fraser, Colorado, (“Town”), we offer readers of the Town’s financial statements this narrative overview and analysis of the financial activities of the Town for the fiscal year ended December 31, 2022. The Town provides a high level of local government service and availability to the community including operation of the Town’s water and wastewater systems, a public works department that provides for street maintenance, snow removal and management, park and open space preservation, public building and facility management and maintenance. Our planning department provides support for both our business/economic sectors in addition to community development support, all while maintaining our small town character in the bigger mountain resort community that we are a part of. The Town currently acts as the manager of the Upper Fraser Valley Wastewater Treatment Facility –providing both the operational expertise and financial management of the facility for the three member organizations who share the plant. In addition,the Town participates in a joint Fraser/Winter Park Police Department and a joint Winter Park/Fraser/Granby Building Services Department. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the Town’s basic financial statements. The Town’s basic financial statements include three components: 1) government-wide financial statements; 2) fund financial statements; and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government-wide financial statements:The government-wide financial statements are designed to provide readers with a broad overview of the Town’s finances, in a manner similar to a private-sector business. The Statement of Net Position presents information on all Town assets, deferred outflows of resources, liabilities, and deferred inflows of resources, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Town is improving or deteriorating. The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (i.e. uncollected revenues such as grants or earned but unused vacation leave.) Both of the government-wide financial statements distinguish functions of the Town that are principally supported by taxes and intergovernmental revenues (governmental activities). The governmental activities of the Town include general government, public safety, public works, and culture and recreation. The business-type activities of the Town include water production, water distribution system operation and maintenance, and the operation and maintenance of the Town’s wastewater collection system. The government-wide financial statements can be found on pages C1 and C2 of this report. Fund financial statements:A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Town, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Town can be divided into two categories: governmental and proprietary funds. B2 Governmental funds:Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. The expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The fund financial statements for the governmental funds are shown on pages C3 and C5. The Town’s Budget includes the following governmental funds: General Fund (GF), which provides for the general functions and services such as administration, planning, law enforcement, streets and properties. Capital Asset Fund (CAF), which is intended to fund long term maintenance of capital assets (streets, buildings, parks, trails, etc.). The CAF is consolidated with the GF in the financial statements. Restricted Revenue Fund (RRF), which is funded by a dedicated sales tax to be used for transportation,trails, and capital project expenditures. Debt Service Fund (DSF), which provides for bonded debt service payments. Conservation Trust Fund (CTF), which is funded by lottery proceeds and provides for open space and recreational related capital projects. Capital Equipment Replacement Fund (CERF), which provides for vehicle and heavy equipment purchases. The Town adopts an annually appropriated budget for all governmental funds. A budgetary comparison statement has been provided for the General Fund, Restricted Revenue Fund, Conservation Trust Fund, Debt Service Fund and Capital Equipment Replacement Fund to demonstrate compliance with the State budget statutes. These are included in Sections E and F. Proprietary funds:The Town maintains two proprietary funds commonly known as enterprise funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The Town uses an enterprise fund to account for its water operations and one to account for its wastewater operations, which was established on December 31, 2009 by the dissolution of the Fraser Sanitation District. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for each of the business-type services provided by the Town. The Town’s Budget includes the following enterprise funds: Water Fund (WF), an enterprise fund for the Town’s water utility. Wastewater Fund (WWF),an enterprise fund for the Town’s wastewater utility. The basic proprietary fund financial statements can be found on pages C7 through C9 of this report. The Town also presents a budgetary comparison for its proprietary funds on pages F3 and F4. Fiduciary fund: As managers of the Upper Fraser Valley Wastewater Treatment Plant (“UFVWWTP”), the Town operates the Joint Facilities Fund (“JFF”) as a fiduciary fund to account for the operations and maintenance of the facility along any capital expenditures related to the plant. JFF Operations and Maintenance (O&M)and the JFF Capital Replacement Reserve (CRR), both of which provide for operations and capital projects at the Wastewater Treatment Plant. The JFF activity is found on pages C10, C11,and F5. B3 Overview of the Financial Statements (continued) Notes to the Financial Statements:The Notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The Notes to the Financial Statements can be found at Section D of this report. The largest portion of the Town’s assets are reflected in the investment in capital assets (i.e. land, streets, buildings, improvements, and equipment). Capital assets account for 57%of the total assets of $55,704,179. The Town uses these assets to provide services to its citizens. The Town has to pay liabilities out of the remaining liquid assets. The Town also has assets that are considered restricted for a variety of purposes. Accordingly, these assets are not an available source for payment of future spending, other than as restricted. The Town shows the detail of restricted net position below on page B4 and also on page D19 of the footnotes. Government-wide Fund Analysis Financial Highlights On a short term view, the Town’s governmental fund balances increased by $2,398,808 in 2022. The Town’s General Fund’s fund balance increased by $1,522,973. On a long-term view (including depreciation and excluding capital outlay, etc.) the Town had a 11%$5,323,830 increase in net position from $48,815,212 to $54,139,042. “Net Position” for the Town refers to both the governmental and business-type (Water Fund (“WF”) and Wastewater Fund (“WWF”)) activities. The business-type activities (WF & WWF) had a decrease in net position of $388,062, while the governmental activities had an increase in net position of $5,711,892. The “long-term” view includes depreciation expense. The schedule the Town uses to depreciate its assets is on page D6 and the corresponding schedules for depreciation and additions to capital assets (capital outlay)is on pages D15 -D16. It’s important to review the depreciation schedule and compare it to the age of the assets being depreciated. Annual depreciation expense for streets exceeds $750,000 and there is no designated revenue source or reserves associated with this asset. Annual depreciation expense on water and wastewater assets exceeds $800,000,with almost $500,000 of that depreciation relating to underground utilities. Over half the Town’s underground utilities have exceeded their depreciation life cycle. At December 31, 2022, the Fraser Town Board has many committed reserves in its General Fund and both of its Enterprise Funds, along with a reserve for unforeseen Joint Facility emergencies. These reserves will allow the Town to meet its short term obligations for safe, reliable and sustainable water and wastewater systems. Available resources will be freed up in the Budget to address annual street maintenance.The Town continues to allow for additional growth in utilities and streets, while the issue of the cost of maintenance reflected by service fees and GF revenues remains a community concern. B4 Government-wide Fund Analysis (continued) The Town’s restricted net position for 2022 is shown in the following schedule: Ba lance Ba lance 1/1/22 Ad diti ons De le ti ons 12/31/22 General Fund: Fees in lieu of Park 6,379$ - - 6,379 Affo rdable hous ing impac t fee 647,736 - - 647,736 Emergenc y res erves 275,000 78,000 - 353,000 Cons ervat ion Tr us t Fund 28,726 - (426) 28,300 Res tric ted Revenue Fund 997,193 862,971 - 1,860,164 Wastewat er Fund Operat ing reserve 54,084 1,112 - 55,196 Capital replac ement res erve 584,444 - (73,392) 511,052 2,593,562$ 942,083 (73,818) 3,461,827 The following shows the Town’s net position for 2022: 2022 2021 2022 2021 2022 2021 As sets: Current a nd other a ssets 13,296,587$10,778,626 10,440,117 10,078,481 23,736,704 20,857,107 Capital as sets 13,165,759 9,939,346 18,801,716 19,628,634 31,967,475 29,567,980 Total Assets 26,462,346 20,717,972 29,241,833 29,707,115 55,704,179 50,425,087 Liabilitie s: Oth er l iabilities 571,846 452,909 135,836 621,156 707,682 1,074,065 Long-te rm l iabilities outstanding - 92,205 - -- 92,205 Total Liabilities 571,846 545,114 135,836 621,156 707,682 1,166,270 De ferred Inflows of Re sour ces: Oth er reve nue - - 408,100 - 408,100 - Property taxe s 449,355 443,605 - - 449,355 443,605 Total Deferred Inflow s of Re sources 449,355 443,605 408,100 - 857,455 443,605 Ne t Position: Net i nves tm ent in capital as sets 13,165,759 9,847,141 18,801,716 19,628,634 31,967,475 29,475,775 Restricted 2,895,579 1,955,034 566,248 638,528 3,461,827 2,593,562 Unres tricted 9,379,807 7,927,078 9,329,933 8,818,797 18,709,740 16,745,875 Total Net Position 25,441,145$19,729,253 28,697,897 29,085,959 54,139,042 48,815,212 Tow n of Fraser's Ne t Position Go ve rnmental Bus iness-type Ac tivities Ac tivities Total B5 Government-wide Financial Analysis (continued) At the end of the current fiscal year, the Town is able to report positive balances in all three categories of net position, both for the government as a whole, as well as for its separate governmental and business- type activities. The following chart is a summary of the Town’s Change in Net Position: 2022 2021 2022 2021 2022 2021 REVENUES: Pr ogram re ve nues : C harges for s ervi ces 551,213$ 438,289 2,159,598 2,142,002 2,710,811 2,580,291 Op erating grants and contr ibutions 342,390 210,551 - 1,543 342,390 212,094 C apital grants and contr ibutions 3,340,372 303,394 365,200 1,383,240 3,705,572 1,686,634 Ge neral reve nues : Pro perty ta xe s 442,838 352,469 - - 442,838 352,469 Sa les a nd Us e ta xe s 6,580,698 6,121,528 - - 6,580,698 6,121,528 Oth er ta xe s 180,274 165,167 - - 180,274 165,167 Inte rest a nd other r evenue 385,483 72,336 160,838 10,424 546,321 82,760 Total Reve nue s 11,823,268 7,663,734 2,685,636 3,537,209 14,508,904 11,200,943 EX PENS ES : Ge neral government 2,734,262 2,675,928 - - 2,734,262 2,675,928 Culture and recreation 272,017 64,016 - - 272,017 64,016 Public safety 735,757 669,464 - - 735,757 669,464 Public works 2,513,207 2,157,495 - - 2,513,207 2,157,495 Interest 56,133 9,377 - - 56,133 9,377 Wa te r - - 1,299,771 1,246,793 1,299,771 1,246,793 Wa stewater - - 1,573,927 1,424,228 1,573,927 1,424,228 Total Expenses 6,311,376 5,576,280 2,873,698 2,671,021 9,185,074 8,247,301 Cha nge in Net Position Be fore Tr ansfers 5,511,892 2,087,454 (188,062) 866,188 5,323,830 2,953,642 Transfe rs in (out)200,000 90,000 (200,000) (90,000) - - Cha nge in Net Pos ition 5,711,892 2,177,454 (388,062) 776,188 5,323,830 2,953,642 Ne t Pos ition-J an 1 19,729,253 17,551,799 29,085,959 28,309,771 48,815,212 45,861,570 Ne t Pos ition - December 31 25,441,145$19,729,253 28,697,897 29,085,959 54,139,042 48,815,212 Total Tow n of Fra se r's Change in Net Posi ti on Go ve rnmental Bus ine ss-type Ac tivities Ac tivities Governmental activities: Governmental activities increased the Town’s net position by $5,711,892 during 2022, as compared to an increase in net position of $2,177,454 during 2021. The following are the major elements of the change in net position of governmental activities from December 31, 2021 to December 31, 2022: Grant revenues increased for the purchase of Victoria Village. Sales and use taxes and regulated industry fees increased significantly compared to prior year. Interest revenues increased significantly with improved market interest rates. B6 Government-wide Financial Analysis (continued) The following is a graph of the Town’s governmental activities revenues by source for 2022.The Town continues to be challenged by its dependence on the very volatile resort based sales tax revenues. Fortunately,the Town has the grocery, hardware, and department stores within its municipal boundaries. The Town will continue to help the local business community,attract and develop a more varied mixture of vendors appealing to both the community’s residents and resort vacationers. Cha rges f or servi ces , $551,213 Operating Grants & Contributions , $342,390 Ca pi ta l Grants and Contributions (excludi ng assets ), $3,340,372 Property Taxes , $442,838 Sa les and Us e Ta x, $6,580,698 Other Ta xes , $180,274 Inter es t a nd other revenue, $385,483 The following is a graph of the Town’s governmental activities expenditures by function for 2022. General governmen t, $2,734,262 Cul tu re and recreation, $272,017 Publ ic s afety , $735,757 Publ ic works, $2,513,207 Inter es t, $56,133 B7 Government-wide Financial Analysis (continued) Business-type activities: Business-type activities (water and wastewater, collection and treatment) resulted in a decrease in the Town’s net position of $388,062. Key elements of this change are as follows: Within the Water and Wastewater Funds and in the Town’s portion of the JFF assets, depreciation expense on capitalized assets of $938,547 accounted for 33%of total operating expenses. Charges for our customer’s water and wastewater services accounted for 96%of total operating revenues. The following is a graph of the business-type revenues by source for 2022. Cha rges f or services , $2,159,598 Operating Gr ants & Contributions , $- Ca pi ta l Gr ants a nd Contri butions , $365,200 Inter es t and other revenue, $160,838 The following is a graph of the business-type expenses by function for 2022. Personnel , $855,876 Commodi ti es , $388,301 Contractual , $678,976 Sys tem developmen t and other, $11,998 Deprec iation, $938,547 Financial Analysis of the Town’s Funds As mentioned on page B2 of this analysis, the Town uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. B8 Financial Analysis of the Town’s Funds (continued) Governmental funds: The focus of the Town’s governmental funds is to provide information on near- term inflows (revenues), outflows (expenditures), and balances of spendable resources. Such information is useful in assessing the Town’s financing requirements. In particular, fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the Town’s governmental funds reported combined ending fund balances of $12,302,698;the funds increased $2,398,808 from the prior year’s ending balances. The Town’s governmental fund balances for 2022 and the past two years are graphed as follows: $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 2020 2021 2022 General Fund Conservation Trus t Fund Debt Service Fund Rest ricted Reven ue F und Capital Equipment Fund Proprietary funds: The Town’s proprietary funds (Water and Wastewater Funds)provide the same type of information found in the government-wide financial statements, but in more detail. The proprietary funds’total cash is available for spending at the Town’s discretion. At the end of 2022 the Town Board reserved multiple amounts and designated them as committed reserves for emergencies in both our operations and maintenance and also for capital emergencies. Reserves are recognized in- house and are outlined earlier in this discussion. B9 Budget Variances in the General Fund: The Town had the following significant budget variances which are detailed as follows: Pos. (Ne g.)Account Re ason Re ve nue s: 1,776,256$ Sales & use taxes Conservat ive budget ing due to vari ous economic fac tors . 2,818,727 Grant revenue Grant reim burs em ent rec eived for Victori a Village. 609,512 To wn board comm enhanc .Community hous ing ex penditures res erved for fu ture use. Public Works 470,388 Salaries and benefits Vacant job pos itions ran longer than ant icipated. Cul ture and Recre ation 285,796 Capital out lay Projec ts pus hed to fut ure years Capital assets: The Town’s government-wide capital assets, net of accumulated depreciation, decreased due largely to depreciation expense. Additional information as well as a detailed classification of the Town’s net capital assets can be found in the Notes to the Financial Statements on pages D15 - D17 of this report. Long-term obligations: As of the end of 2022, the Town had $49,818 in long-term obligations for accrued compensated absences. Additional information regarding the Town’s debt can be found on pages D18 –D19 of this report. Sales and Use Taxes: The Town has sales and use taxes that are used to fund its governmental operations. The Town’s sales and use taxes changed from a total of $6,121,528 in 2021 to $6,580,698 in 2022. The following chart indicates changes in the taxes collections: 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 2020 2021 2022 1% R es tricted Sale s Tax Ge ne ra l Fund Use Tax Ge ne ra l Fund Sal es T ax B10 The Town’s sales and use tax collections increased over the past years. Sales tax receipts increased 13%from 2021 to 2022 and the new 1% restricted sales tax generated $1,214,442. Next year’s budget and rates: The Town’s General Fund balance at the end of the current fiscal year was $10,052,374. The Town’s 2023 budget anticipates decreasing the General Fund balance by $292,957. It is anticipated that this budgeted reduction in fund balance will decrease by year end due to under spending budgeted amounts as well as surpassing revenue projections. Request for Information This financial report is designed to provide a general overview of the Town’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Town of Fraser, Finance Manager, P.O. Box 120, Fraser, Colorado 80442-0120. GOVERNMENT-WIDE FINANCIAL STATEMENTS Governmental Business-type Activities Activities Total Assets: Cash and investments - Unrestricted 11,422,663 8,557,491 19,980,154 Accounts, taxes, and interest receivables 1,788,231 1,264,078 3,052,309 Due from fiduciary fund 85,693 618,548 704,241 Capital assets, net 13,165,759 18,801,716 31,967,475 Total Assets 26,462,346 29,241,833 55,704,179 Liabilities: Accounts payable 496,360 77,537 573,897 Other liabilities 48,175 35,792 83,967 Accrued compensated absences 27,311 22,507 49,818 Total Liabilities 571,846 135,836 707,682 Deferred Inflows of Resources: Other revenue - 408,100 408,100 Property taxes 449,355 - 449,355 Total Deferred Inflows of Resources 449,355 408,100 857,455 Net Position: Net investment in capital assets 13,165,759 18,801,716 31,967,475 Restricted 2,895,579 566,248 3,461,827 Unrestricted 9,379,807 9,329,933 18,709,740 Total Net Position 25,441,145 28,697,897 54,139,042 Town of Fraser, Colorado Statement of Net Position For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C1 Operating Capital Charges for Grants and Grants and Governmental Business-type Expenses Services Contributions Contributions Ac tivities Activities Total Functions/Programs: Governmental activities: General government 2,734,262 551,213 290,764 3,224,545 1,332,260 - 1,332,260 Culture and recreation 272,017 - - 115,827 (156,190) - (156,190) Public safety 735,757 - - - (735,757) - (735,757) Public works 2,513,207 - 51,626 - (2,461,581) - (2,461,581) Interest 56,133 - - - (56,133) - (56,133) Total governmental activities 6,311,376 551,213 342,390 3,340,372 (2,077,401) - (2,077,401) Business-type activities: Water 1,299,771 1,205,159 - 200,200 - 105,588 105,588 Wastewater 1,573,927 954,439 - 165,000 - (454,488) (454,488) Total business-type activities 2,873,698 2,159,598 - 365,200 - (348,900) (348,900) Total 9,185,074 2,710,811 342,390 3,705,572 (2,077,401) (348,900) (2,426,301) General revenues: Taxes: Property tax 442,838 - 442,838 Specific ownership tax 27,853 - 27,853 General sales and use tax 6,580,698 - 6,580,698 Franchise tax 148,318 - 148,318 Other miscellaneous taxes 4,103 - 4,103 Investment earnings 188,446 153,844 342,290 Miscellaneous 197,037 6,994 204,031 Transfers to (from) 200,000 (200,000) - Total general revenues and transfers 7,789,293 (39,162) 7,750,131 Change in Net Position 5,711,892 (388,062) 5,323,830 Net Position - Beginning of Year 19,729,253 29,085,959 48,815,212 Net Position - End of Year 25,441,145 28,697,897 54,139,042 Program Revenues Net (Expense) Revenue and Town of Fraser, Colorado Statement of Activities For the Year Ended December 31, 2022 Changes in Net Position The accompanying notes are an integral part of these financial statements. C2 FUND FINANCIAL STATEMENTS Capital Total Debt Conservation Equipment Restricted Governmental General Service Trust Replacement Revenue Funds As sets: Cash and investments - Unrestricted 9,228,376 36,152 28,300 325,708 1,804,127 11,422,663 Receivables 156,618 - - - - 156,618 Due from other governments 957,603 - - - - 957,603 Due from fiduciary fund 85,693 - - - - 85,693 Taxes receivable 449,355 - - - 224,655 674,010 Total Assets 10,877,645 36,152 28,300 325,708 2,028,782 13,296,587 Liabilities and Fund Equity: Liabilities: Accounts/vouchers payable 347,615 - - - 168,618 516,233 Other liabilities 28,301 - - - - 28,301 Total Liabilities 375,916 - - - 168,618 544,534 Deferred Inflows of Resources: Property taxes 449,355 - - - - 449,355 Total Deferred Inflows of Resources 449,355 - - - - 449,355 Fund Balances: Nonspendable 156,618 - - - - 156,618 Spendable Restricted 1,007,115 - 28,300 - 1,860,164 2,895,579 Committed 1,500,000 36,152 - 325,708 - 1,861,860 Assigned 1,792,957 - - - - 1,792,957 Unassigned 5,595,684 - - - - 5,595,684 Total Fund Balances 10,052,374 36,152 28,300 325,708 1,860,164 12,302,698 Total Liabilities, Deferred Inflows of Resources and Fund Balances 10,877,645 36,152 28,300 325,708 2,028,782 13,296,587 Tow n of Fraser, Colorado Balance Sheet Governmental Funds December 31, 2022 The accompanying notes are an integral part of these financial statements. C3 Amounts reported for governmental activities in the Statement of Net Position are different because: Governmental Fund Balance 12,302,698 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.13,165,758 Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.(27,311) Net Position of Governmental Activities 25,441,145 Town of Fraser, Colorado Reconciliation of Governmental Fund Balance to Governmental Activities Net Position December 31, 2022 The accompanying notes are an integral part of these financial statements. C4 Capital Total Debt Conservation Equipment Restricted Governmental General Service Trust Replacement Revenue Funds Revenues: Taxes 5,989,368 - - - 1,214,442 7,203,810 Licenses and permits 244,205 - - - - 244,205 Charges for services 307,008 - - - - 307,008 Intergovernmental revenue 3,340,372 - 59,080 51,626 - 3,451,078 Investment income 158,780 614 494 2,523 26,036 188,447 Miscellaneous 373,844 - - - - 373,844 Total Revenues 10,413,577 614 59,574 54,149 1,240,478 11,768,392 Expenditures: General government 2,321,899 - - - 377,507 2,699,406 Public safety 690,282 - - - - 690,282 Public works 1,185,810 - - - - 1,185,810 Culture and recreation 236,808 - 50,000 - - 286,808 Debt service - - - 96,348 - 96,348 Capital outlay 4,286,291 - - 379,514 - 4,665,805 Total Expenditures 8,721,090 - 50,000 475,862 377,507 9,624,459 Excess (Deficiency) of Revenues Over Expenditures 1,692,487 614 9,574 (421,713) 862,971 2,143,933 Other Financing Sources (Uses): Transfers in (out) (169,514) - (10,000) 379,514 - 200,000 Sale of assets - - - 54,875 - 54,875 Total Other Financing Sources (Uses)(169,514) - (10,000) 434,389 - 254,875 Excess (Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing (Uses)1,522,973 614 (426) 12,676 862,971 2,398,808 Fund Balances - Beginning of Year 8,529,401 35,538 28,726 313,032 997,193 9,903,890 Fund Balances - End of Year 10,052,374 36,152 28,300 325,708 1,860,164 12,302,698 Town of Fraser, Colorado Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C5 Net Change in Fund Balances of Governmental Funds 2,398,808 Amounts reported for governmental activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which depreciation exceeded capital outlay, net of capital disposals during the year.3,226,413 Accrued liabilities for employees' sick and vacation are not an expenditure in the governmental funds, but are increases in long- term liabilities in the Statement of Net Position. This is the amount that accrued vacation not immediately payable decreased.(5,534) Repayment of capital lease and bond principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Position. This is the amount of principal repayments.92,205 Change in Net Position of Governmental Activities 5,711,892 Town of Fraser, Colorado Reconciliation of Net Change in Fund Balances to Change in Net Position of Governmental Activities For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C6 Total Water Wastewater Enterprise Fund Fund Funds Assets: Current assets: Cash and cash equivalents 2,943,855 5,613,636 8,557,491 Utility receivables 330,542 279,260 609,802 Plant investment fee receivables 328,533 320,000 648,533 Other receivables - 5,743 5,743 Due (to) from fiduciary fund - 618,548 618,548 Total Current Assets 3,602,930 6,837,187 10,440,117 Non-current assets: Land 100,000 144,320 244,320 Water rights 657,860 - 657,860 Equipment 353,994 150,870 504,864 Treatment plant and system 15,258,727 18,010,564 33,269,291 Less: Accumulated depreciation (7,542,287) (8,332,332) (15,874,619) Total Non-Current Assets 8,828,294 9,973,422 18,801,716 Total Assets 12,431,224 16,810,609 29,241,833 Liabilities and Fund Equity: Liabilities: Current liabilities: Vouchers/accounts payable - 77,537 77,537 Deposits payable 35,792 - 35,792 Total Current Liabilities 35,792 77,537 113,329 Non-current liabilities: Accrued compensated absences 8,046 14,461 22,507 Total Liabilities 43,838 91,998 135,836 Deferred Inflows of Resources: Other revenue 408,100 - 408,100 Total Deferred Inflows of Resources 408,100 - 408,100 Net Position: Net investment in capital assets 8,828,294 9,973,422 18,801,716 Restricted - 566,248 566,248 Unrestricted 3,150,992 6,178,941 9,329,933 Total Net Position 11,979,286 16,718,611 28,697,897 Town of Fraser, Colorado Statement of Net Position Enterprise Funds For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C7 Total Enterprise Water Wastewater Funds Operating Revenues: Charges for services 1,128,078 954,439 2,082,517 Meter sales 77,077 - 77,077 Miscellaneous revenue 6,994 - 6,994 Total Operating Revenues 1,212,149 954,439 2,166,588 Operating Expenses: Personnel 408,737 447,139 855,876 Commodities 300,513 87,787 388,300 Contractual 195,371 483,606 678,977 System development 11,998 - 11,998 Depreciation 383,152 555,395 938,547 Total Operating Expenses 1,299,771 1,573,927 2,873,698 Operating Income (Loss)(87,622) (619,488) (707,110) Non-Operating Revenues: Interest revenue 49,666 104,182 153,848 Net Non-Operating Revenues 49,666 104,182 153,848 Income (Loss) before Contributions and Transfers (37,956) (515,306) (553,262) Capital contributions 200,200 165,000 365,200 Transfers (out)(100,000) (100,000) (200,000) Contributions and Transfers 100,200 65,000 165,200 Change in Net Position 62,244 (450,306) (388,062) Net Position - Beginning of Year 11,917,042 17,168,917 29,085,959 Net Position - End of Year 11,979,286 16,718,611 28,697,897 Town of Fraser, Colorado Statement of Revenues, Expenses and Changes in Net Position Enterprise Funds For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C8 Total Enterprise Water Wastew ater Funds Cash Flow s From Operating Activities: Cash received from customers 1,158,349 878,720 2,037,069 Other cash received 8,910 37,799 46,709 Cash received (paid) for deposits 1,850 24,680 26,530 Cash payments for goods and services (507,882) (496,469) (1,004,351) Cash payments for salaries and benefits (408,737) (447,136) (855,873) Net Cash Provided (Used) by Operating Activities 252,490 (2,406) 250,084 Cash Flow s From Non-Capital and Related Financing Activ ities: Cash transferred to other funds (100,000) (100,000) (200,000) Cash received from grants and contributions - 7,855 7,855 Net Cash Provided (Used) by Non-Capital and Related Financing Activities (100,000) (92,145) (192,145) Cash Flow s From Capital and Related Financing Activ ities: Plant investment fees (paid) received 369,600 480,000 849,600 Net Cash Provided (Used) by Capital and Related Financing Activities 351,686 386,285 737,971 Cash Flow s From Investing Activities: Interest 49,666 104,182 153,848 Net Cash Provided (Used) by Investing Activities 49,666 104,182 153,848 Net (Decrease) Increase in Cash and Cash Equiv alents 553,842 395,916 949,758 Cash and Cash Equivalents - Beginning of Year 2,390,013 5,217,720 7,607,733 Cash and Cash Equivalents - End of Year 2,943,855 5,613,636 8,557,491 Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Operating income (loss)(87,622) (619,488) (707,110) Adjustments: Depreciation 383,152 555,395 938,547 (Increase) decrease in accounts receivable (44,890) (37,918) (82,808) (Increase) decrease in deposits receivable - 24,680 24,680 Increase (decrease) in accounts payable - 74,925 74,925 Increase (decrease) in deposits payable 1,850 - 1,850 Total Adjustments 340,112 617,082 957,194 Net Cash Provided (Used) by Operating Activities 252,490 (2,406) 250,084 Tow n of Fraser, Colorado Statement of Cash Flow s Enterprise Funds For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C9 JF Fund Assets: Cash and cash equivalents 1,576,407 Accounts receivable, net:355,825 Total Assets 1,932,232 Liabilities: Accounts payable 68,070 Payable to Fraser 137,993 Deposits 1,726,169 Total Liabilities 1,932,232 Town of Fraser, Colorado Statement of Fiduciary Assets and Liabilities December 31, 2022 The accompanying notes are an integral part of these financial statements. C10 JF Fund Operating Revenues: Charges for operations and maintenance costs 1,378,595 Total Operating Revenues 1,378,595 Operating Expenses: Salaries and Wages 263,662 Employee Benefits 86,753 Purchased services 795,791 Supplies 31,431 Utilities 200,958 Total Operating Expenses 1,378,595 Change in Assets and Liabilities - Due to Others - Beginning - Due to Others - Ending - Town of Fraser, Colorado Statement of Changes in Fiduciary Assets and Liabilities For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. C11 NOTES TO THE FINANCIAL STATEMENTS Town of Fraser Notes to the Financial Statements December 31, 2022 D1 I.Summary of Significant Accounting Policies The Town of Fraser, Colorado (the "Town") is incorporated under Colorado statutes to provide public safety, streets and street maintenance, water and wastewater service, recreation including parks and trails, transportation, special events, planning and zoning, and general administrative services. The Town is located in Grand County and operates under a Council-Manager form of government. An elected Mayor and Town Board are responsible for setting policy, appointing administrative personnel and adopting an annual budget in accordance with state statutes. The Town’s major operations include road maintenance, water and wastewater service, public safety and culture and recreation. The Town’s financial statements are prepared in accordance with generally accepted accounting principles (“GAAP”). The Governmental Accounting Standards Board (“GASB”) is responsible for establishing GAAP for state and local governments through its pronouncements (Statements and Interpretations). The more significant accounting policies established by GAAP and used by the Town are discussed below. A.Reporting Entity The reporting entity consists of (a) the primary government; i.e., the Town, and (b) organizations for which the Town is financially accountable. The Town is considered financially accountable for legally separate organizations if it is able to appoint a voting majority of an organization's governing body and is either able to impose its will on that organization or there is a potential for the organization to provide specific financial benefits to or to impose specific financial burdens on, the Town. Consideration is also given to other organizations that are fiscally dependent; i.e., unable to adopt a budget, levy taxes, or issue debt without approval by the Town. Organizations for which the nature and significance of their relationship with the Town are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete are also included in the reporting entity. Based upon the above criteria, the Town is not financially accountable for any other organization, nor is the Town a component unit of any other primary governmental entity. B.Government-wide and Fund Financial Statements The Town’s basic financial statements include both government-wide (reporting the Town as a whole) and fund financial statements (reporting the Town’s major funds). Government-wide financial statements report on information of all of the activities of the Town. Both the government-wide and fund financial statements categorize primary activities as either governmental or business-type. The Town’s public safety, public works, culture and recreation, and administration functions are classified as governmental activities. The Water Fund and Wastewater Fund are classified as business-type activities. In the government-wide Statement of Net Position, the governmental activities columns are reported on a full accrual, economic resource basis, which recognizes all long-term assets and receivables as well as long-term debt and obligations. The Town’s net position are reported in three parts –Net investment in capital assets; Restricted net position; and Unrestricted net position. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D2 I.Summary of Significant Accounting Policies (continued) B.Government-wide and Fund Financial Statements (continued) The government-wide Statement of Activities reports both the gross and net cost of each of the Town’s governmental functions and business-type activities. The governmental functions are also supported by general government revenues (sales taxes, property and specific ownership taxes, investment earnings, etc.). The Statement of Activities reduces gross expenses (including depreciation) by related program revenues, operating and capital grants. Program revenues must be directly associated with the governmental function or a business-type activity. Operating grants include operating-specific and discretionary (either operating or capital) grants while the capital grants column reflects capital-specific grants.The government-wide focus is on the sustainability of the Town as an entity and the change in the Town’s net position resulting from the current year’s activities. C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation Measurement focus refers to whether financial statements measure changes in current resources only (current financial focus) or changes in both current and long-term resources (long-term economic focus). Basis of accounting refers to the point at which revenues, expenditures, or expenses are recognized in the accounts and reported in the financial statements. Financial statement presentation refers to classification of revenues by source and expenses by function. 1.Long-term Economic Focus and Accrual Basis Both governmental and business-type activities in the government-wide financial statements and the proprietary fund financial statements use the long-term economic focus and are presented on the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of the timing of the related cash flows. 2.Current Financial Focus and Modified Accrual Basis The governmental fund financial statements use the current financial focus and are presented on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual; i.e., both measurable and available. “Available” means collectible within the current period or soon enough thereafter (60 days) to be used to pay liabilities of the current period. Expenditures are generally recognized when the related liability is incurred. The exception to this general rule is that principal and interest on general long-term debt and compensated absences are recorded only when payment is due. Franchise fees, licenses and interest associated with current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenue of the current fiscal period. Sales and excise taxes collected by vendors at year end on behalf of the Town are also recognized as revenue if collected within 30 days after year end. Expenditure driven grants are recognized as revenue when qualified expenditures have been incurred and all other grant requirements have been met. All other revenue items are considered to be measurable and available only when cash is received by the Town. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D3 I.Summary of Significant Accounting Policies (continued) C.Measurement Focus, Basis of Accounting, and Financial Statement Presentation (continued) 3.Financial Statement Presentation As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments where the amounts are reasonably equivalent to the value of the interfund services provided and other charges between the functions of the Town. Elimination of these charges would distort the direct costs and program revenues reported for the water and wastewater functions. Amounts reported as program revenues include 1) charges to customers and applicants for goods, services or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. Proprietary funds distinguish operating revenues and expenses from non- operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the Town’s enterprise funds are the operation of the water and wastewater systems within the Town. Operating expenses for the enterprise funds includes operating expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. D.Fund Financial Statements The financial transactions of the Town are reported in individual funds in the fund financial statements. Each fund is accounted for by providing a separate set of self- balancing accounts that comprises its assets, liabilities, reserves, fund equity, revenues and expenditures/expenses. The fund focus is on current available resources and budget compliance. The Town reports the following major governmental funds: General Fund The General Fund is the Town’s primary operating fund. It accounts for all financial resources of the Town, except those required to be accounted for in another fund. Special Revenue Funds Special revenue funds are used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. The term “proceeds of specific revenue sources” establishes that one or more specific restricted or committed revenues should be the foundation for a special revenue fund. The Conservation Trust Fund accounts for lottery proceeds required to be expended solely on park and recreation improvements. The Restricted Revenue Fund accounts for a dedicated sales tax to be used for transportation,trails, and capital project expenditures. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D4 I.Summary of Significant Accounting Policies (continued) D.Fund Financial Statements (continued) Capital Projects Funds Capital projects funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets. Capital projects funds exclude those types of capital-related outflows financed by proprietary funds or for assets that will be held in trust for individuals, private organizations, or other governments. The Capital Equipment Replacement Fund accounts for funds set aside for the purchase and replacement of capital equipment. A significant portion of revenues consists of highway user tax proceeds. Debt Service Funds Debt service funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditures of principal and interest. Debt service funds should be used to report resources if legally mandated. Financial resources that are being accumulated for principal and interest maturing in future years also should be reported in debt service funds. The Debt Service Fund accounts for payments made on the Town’s bonded debt obligations. The Town reports the following proprietary or business-type funds: The Water Fund accounts for the purchase and delivery of water to the citizens of the Town. The Water Fund also maintains the infrastructure needed to provide water service. The Wastewater Fund accounts for the treatment of wastewater from the citizens of the Town. The Wastewater Fund also maintains the infrastructure needed to provide wastewater service. The Town reports the following fiduciary fund: The Joint Facilities (“JF”) Operations and Maintenance Fund accounts for the operations of the Upper Fraser Valley Wastewater Treatment Joint Facilities. E.Financial Statement Accounts 1.Cash and Cash Equivalents The Town pools deposits and investments of all funds except JF Operations and Maintenance Fund, which are held in separate accounts. Each fund’s share of the pool is readily identified by the Town’s internal records. Investments are stated at market value. Cash and cash equivalents include demand deposits, certificates of deposit, local government investment pools (COLOTRUST), and U.S. government-backed securities. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D5 I.Summary of Significant Accounting Policies (continued) E.Financial Statement Accounts (continued) 1.Cash and Cash Equivalents (continued) Certain proceeds of debt issues, as well as certain resources set aside for their repayment, have been classified as restricted assets on the balance sheet because their use is limited by the applicable covenants. Restricted assets also include certain deposits that have been limited as to usage pursuant to escrow and similar agreements. The Town’s investment policy permits investments in the following type of obligations which corresponds with state statutes: U.S. Treasury Obligations (maximum maturity of 60 months) Federal Instrumentality Securities (maximum maturity of 60 months) FDIC-insured Certificates of Deposit (maximum maturity of 18 months) Corporate Bonds (maximum maturity of 36 months) Prime Commercial Paper (maximum maturity of 9 months) Eligible Bankers Acceptances Repurchase Agreements General Obligations and Revenue Obligations Local Government Investment Pools Money Market Mutual Funds 2.Receivables Receivables are reported net of an allowance for uncollectible accounts. 3.Long-term Notes Receivable In the government-wide financial statements, long-term notes receivables are reported as an asset. In the fund financial statements, the face amount is reported as a general government expense. 4.Property Taxes Property taxes are assessed in one year as a lien on the property, but not collected by the governmental units until the subsequent year. In accordance with generally accepted accounting principles, the assessed but uncollected property taxes have been recorded as a receivable and as deferred inflow of resources. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D6 I.Summary of Significant Accounting Policies (continued) E.Financial Statement Accounts (continued) 5.Capital Assets Capital assets, which include land, buildings, equipment, vehicles, and infrastructure assets (only infrastructure acquired after January 1, 2002), are reported in the applicable governmental or business-type activity columns in the government-wide financial statements. The Town defines capital assets as assets with an initial cost of $5,000 or more and an estimated useful life in excess of two years. Such assets are recorded at historical cost. Donated capital assets are recorded at acquisition value at the date of donation. Capital outlay for projects is capitalized as projects are constructed. Interest incurred during the construction phase is expensed as incurred. Infrastructure, buildings, and equipment are depreciated using the straight-line method over the following estimated useful lives: Asse ts Ye ars Infrastruc ture 15 - 30 Buildings and improvements 15 - 40 Di stribution systems 40 Equi pment and ve hicles 7 6.Compensated Absences Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the obligated governmental fund. Amounts of vested or accumulated vacation leave that are not expected to be liquidated with expendable available financial resources are reported in the governmental activities column in the government-wide financial statements. Vested or accumulated vacation leave of the proprietary fund type is recorded as an expense and liability of that fund as the benefits accrue to employees. In accordance with the provisions of GASB No. 16, Accounting for Compensated Absences,no liability is recorded for non-vesting accumulating rights to receive sick pay benefits. 7.Restricted Assets Fees collected in lieu of park and open space and affordable housing impact fees are restricted as to their use by Town ordinances. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D7 I.Summary of Significant Accounting Policies (continued) E.Financial Statement Accounts (continued) 8.Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/ expenditure) until then. The Town does not have any deferred outflows of resources at December 31, 2022. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element,deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The Town has two types of items that qualify for reporting in this category. Accordingly, the deferred inflow, property taxes and other revenues,are deferred and recognized as an inflow of resources in the period that the amounts become available. 9.Categories and Classification of Fund Balance Governmental accounting standards establishes fund balance classifications that comprise a hierarchy based primarily on the extent to which a government is bound to observe constraints imposed upon the use of the resources reported in governmental funds. Fund balance classifications, include Non-spendable, Restricted, Committed, Assigned, and Unassigned. These classifications reflect not only the nature of funds, but also provide clarity to the level of restriction placed upon fund balance. Fund Balance can have different levels of restraint, such as external versus internal compliance requirements. Unassigned fund balance is a residual classification within the general fund. The general fund should be the only fund that reports a positive unassigned balance. In all other funds, unassigned is limited to negative residual fund balance. The Town of Fraser classifies governmental fund balances as follows: Non-spendable -includes fund balance amounts that cannot be spent either because it is not in spendable form or because of legal or contractual requirements. Spendable: Restricted –includes fund balance amounts that are constrained for specific purposes which are externally imposed by providers, such as creditors or amounts constrained due to constitutional provisions or enabling legislation. Committed –includes fund balance amounts that are constrained for specific purposes that are internally imposed by the government through formal action of the highest level of decision making authority which is the Town Board. Assigned –includes spendable fund balance amounts that are intended to be used for specific purposes that are neither considered restricted or committed. Fund Balance may be assigned by the Town or its management designee. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D8 I.Summary of Significant Accounting Policies (continued) E.Financial Statement Accounts (continued) 9.Categories and Classification of Fund Balance (continued) Unassigned -includes residual positive fund balance within the General Fund which has not been classified within the other above mentioned categories. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed, or assigned for those specific purposes. The Town may use restricted amounts to be spent first when both restricted and unrestricted fund balance is available unless there are legal documents/contracts that prohibit doing this, such as in grant agreements requiring dollar for dollar spending. Additionally, the Town might first use committed, then assigned, and lastly unassigned amounts of unrestricted fund balance when expenditures are made. 10.Interfund Transactions Interfund services provided and used are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures or expenses initially made from it that are properly applicable to another fund, are recorded as expenditures or expenses in the reimbursing fund and as reductions of expenditures or expenses in the fund that is reimbursed. 11. Deposits Deposits on the JF Operations and Maintenance Fund represent contributions made to the JF Operations and Maintenance Fund by Winter Park Ranch Water and Sanitation District (“Winter Park Ranch”) and Grand County Water and Sanitation District #1 (“Grand County #1”) and the Town (previously the Fraser Sanitation District)for operating and replacement costs relating to the combined wastewater treatment plant. These deposits are held for working capital and replacement costs during the time all members remain joint operators of the plant. F.Significant Accounting Policies 1.Use of Estimates The preparation of financial statements in conformity with GAAP requires the Town’s management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenditures or expenses during the reporting period. Actual results could differ from those estimates. 2.Proprietary Funds As required by GASB Statement No. 62, the Town has elected to follow all GASB pronouncements for its proprietary funds. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D9 I.Summary of Significant Accounting Policies (continued) F.Significant Accounting Policies (continued) 3.Credit Risk Receivables in the Town’s funds are primarily due from other governments. Management believes that the credit risk related to these receivables is minimal. 4.Restricted and Unrestricted Resources When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first, then unrestricted resources as they are needed. II.Reconciliation of Government-wide and Fund Financial Statements A.Explanation of certain differences between the governmental fund Balance Sheet and the government-wide Statement of Net Position The governmental fund Balance Sheet includes reconciliation between fund balance - total governmental funds and net position of governmental activities as reported in the government-wide Statement of Net Position. One element of that reconciliation explains that “Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.” The $13,165,758 adjustment represents the net book value of capital assets of $27,588,084 and accumulated depreciation of $14,422,325 at December 31, 2022. Another element of the reconciliation states that "Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.” The $27,311 reconciling item represents obligation related to accrued compensated absences and capital leases at year end. B.Explanation of certain differences between the governmental fund Statement of Revenues, Expenditures and Changes in Fund Balances and the government-wide Statement of Activities The governmental fund Statement of Revenues, Expenditures and Changes in Fund Balances includes reconciliation between net change in fund balances of governmental funds and changes in net position of governmental activities as reported in the government-wide Statement of Activities. One element of that reconciliation explains that governmental funds report capital outlays as expenditures, but in the Statement of Activities, the costs of those assets are allocated over their estimated useful lives as depreciation expense. The details of this reconciling amount are capital outlay of $4,257,276,less depreciation expense of $1,030,863, less the disposal of capital assets of $0 during 2022. Another element of that reconciliation is $5,534 which represents increase in accrued compensated absences.The final reconciling item is $92,205 which represents payment related to financed purchase obligations. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D10 III.Stewardship, Compliance, and Accountability A.Budgetary Information 1.Budgetary Basis of Accounting The preparation Budgets are adopted on a basis consistent with generally accepted accounting principles, except for the proprietary funds. Annual appropriations are adopted for all funds. Expenditures may not legally exceed appropriations at the fund level. All appropriations lapse at year end. As required by Colorado Statutes, the Town followed the required timetable noted below in preparing, approving, and enacting its budget for 2022. (1)For the 2022 budget year, prior to August 25, 2021, the County Assessor sent to the Town an assessed valuation of all taxable property within the Town’s boundaries. (2)The Town Manager, or other qualified person appointed by the Board, submitted to the Board, on or before October 15, 2021, a recommended budget which detailed the necessary property taxes needed along with other available revenues to meet the Town’s operating requirements. (3)Prior to December 15, 2021, a public hearing was held for the budget, the Board certified to the County Commissioners a levy rate that derived the necessary property taxes as computed in the proposed budget, and the Board adopted the proposed budget and an appropriating resolution that legally appropriated expenditures for the upcoming year. (4)After adoption of the budget resolution, the Town may make the following changes: a) it may transfer appropriated money between funds; b) approve supplemental appropriations to the extent of revenues in excess of estimated revenues in the budget; c) approve emergency appropriations; and d) reduce appropriations for which originally estimated revenues are insufficient. Taxes levied in one year are collected in the succeeding year. Thus, taxes certified in 2021 were collected in 2022 and taxes certified in 2022 will be collected in 2023. Taxes are due on January 1st in the year of collection; however, they may be paid in either one installment (no later than April 30th) or two equal installments (not later than February 28th and June 15th) without interest or penalty. Taxes that are not paid within the prescribed time bear interest at the rate of one percent (1%) per month until paid. Unpaid amounts and the accrued interest thereon become delinquent on June 16th. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D11 III.Stewardship, Compliance, and Accountability (continued) B.TABOR Amendment In November 1992, Colorado voters amended Article X of the Colorado Constitution by adding Section 20, commonly known as the Taxpayer's Bill of Rights (“TABOR). TABOR contains revenue, spending, tax and debt limitations that apply to the State of Colorado and local governments. TABOR requires, with certain exceptions, advance voter approval for any new tax, tax rate increase, mill levy above that for the prior year, extension of any expiring tax, or tax policy change directly causing a net tax revenue gain to any local government. Except for refinancing bonded debt at a lower interest rate or adding new employees to existing pension plans, TABOR requires advance voter approval for the creation of any multiple-fiscal year debt or other financial obligation unless adequate present cash reserves are pledged irrevocably and held for payments in all future fiscal years. TABOR also requires local governments to establish an emergency reserve to be used for declared emergencies only. The reserve is calculated at 3% of fiscal year spending. Fiscal year spending excludes bonded debt service and enterprise spending. The Town has reserved $353,000. On April 4, 2000, the Town’s electorate approved the following: Without any increase in the property tax mill levy or the 4% sales and use tax rate, shall the Town of Fraser, Colorado, be authorized, in the year 2000 and each subsequent year thereafter, to collect, retain, and expend the full proceeds of the Town’s fees, taxes, non-federal grants and other revenues and to spend such revenues for debt service, municipal operations, capital projects, and any other lawful municipal purpose, notwithstanding any state of Colorado restrictions on revenues or spending, including the restrictions of Article X, Section 20 of the Colorado Constitution, the revenue limit in Section 29-1-301 of the Colorado Revised Statutes, or any other law. On November 3, 2020, the Town’s electorate approved the following: Without increasing total tax revenues collected, shall the Town of Fraser be authorized to adjust its mill levy annually to offset revenue reductions caused by State imposed changes to the percentage used to determine assessed valuation, including any changes made pursuant to the 1982 Gallagher amendment to the Colorado Constitution, so that, to the extent possible, the revenues generated by such mill levy are the same as the tax revenues that would have been generated had such changes in the method of calculating assessed valuation not occurred? The Town's management believes it is in compliance with the financial provisions of TABOR. However, TABOR is complex and subject to interpretation. Many of its provisions, including the interpretation of how to calculate fiscal year spending limits, could require judicial interpretation. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D12 IV.Detailed Notes on All Funds A.Deposits and Investments The Town’s checking accounts are entirely covered by federal depository insurance (“FDIC”) or by collateral held under Colorado’s Public Deposit Protection Act (“PDPA”). The FDIC insures the first $250,000 of the Town’s deposits at each financial institution. Deposit balances over $250,000 are collateralized as required by PDPA. The carrying amount of the Town’s demand deposits were $951,066 at year end. Fair Value of Investments The Town measures and records its investments using fair value measurement guidelines established by generally accepted accounting principles. These guidelines recognize a three-tiered fair value hierarchy, as follows: Level 1: Quoted prices for identical investments in active markets; Level 2: Observable inputs other than quoted market prices; and, Level 3: Unobservable inputs. At December 31, 2022, the Town had the following recurring fair value measurements: Inve st ments Me asure d at Net Asse t Value Col ot rus t 20,605,495$ Debt and equity securities classified in Level 1 are valued using prices quoted in active markets for those securities. The Town had the following deposits and investments for all funds, with the following maturities December 31, 2022: Ma turi ti es Type:Ra ti ng Ca rrying Am ount Le ss Tha n One Year Le ss Tha n Five Ye ars Depos its: Checking Account s Not Rated 722,337$ 722,337 - Savi ngs Accounts Not Rated 228,729 228,729 - Investments: Inve stment Pools AAAm 20,605,495 20,605,495 - 21,556,561$ Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D13 IV.Detailed Notes on All Funds (continued) A.Deposits and Investments (continued) The investment pools represent investments in the Colorado Government Liquid Asset Trust (“COLOTRUST”)a 2a7-like pools. Pools are not covered by FDIC insurance or PDPA but are rated AAAm. The fair value of the pools is determined by the pools’share price. The Town has no regulatory oversight for the pools. Interest Rate Risk. As a means of limiting its exposure to interest rate risk, the Town coordinates its investment maturities to closely match cash flow needs and restricts the maximum investment term to less than five years from the purchase date. As a result of the limited length of maturities the Town has limited its interest rate risk. Credit Risk.Colorado statutes specify instruments in which local governments may invest, including: Obligations of the U.S. and certain U.S.governmental agency securities Certain international agency securities General obligation and revenue bonds for U.S. local governmental entities Bankers’acceptances of certain banks Commercial paper Local government investment pools Written repurchase agreements collateralized by certain authorized securities Certain money market funds Guaranteed investment contracts The Town’s general investment policy is to apply the prudent-person rule: Investments are made as a prudent person would be expected to act, with discretion and intelligence, to seek reasonable income, preserve capital, and, in general, avoid speculative investments. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D14 IV.Detailed Notes on All Funds (continued) B.Receivables Receivables as of year-end for the Town’s funds, including applicable allowances for uncollectible accounts, are as follows: Ca pita l Re st ricte d Ge nera l Eq uipment Re ve nue Total Re ce ivable s: Ta xes 449,355$ - 224,655 674,010 Account s 156,618 - - 156,618 Intergovernm ent al 957,603 - - 957,603 Gros s rec eiva bles 1,563,576 - 224,655 1,788,231 Les s: allowanc e for unc ollectible - - - - Net Receiva bles 1,563,576$ - 224,655 1,788,231 Gove rnm enta l Funds Water Waste water Ope ra ti ons Ope ra ti ons Total Re ce ivables: Account s 659,075$ 599,260$ 1,258,335$ Ot her - 5,743 5,743$ Gros s rec eivables 659,075 605,003 1,264,078 Les s: allowanc e for unc ollec tible - - - Net Receiva bles 659,075$ 605,003$ 1,264,078$ En te rprise Funds Governmental funds report deferred inflow of resources from property taxes in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. The receivable is net of $449,355 of property taxes levied in 2022 but not available until 2023. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D15 IV.Detailed Notes on All Funds (continued) C.Capital Assets Capital asset activity for the year ended December 31, 2022 was as follows: Be ginning Ending Ba lance Incre ases De cre ases Ba lance Gove rnmenta l acti vi ti es: Capit al assets, not bei ng deprec iated: Land and improvements 730,629$ 3,802,222 - 4,532,851 To tal capital assets, not being deprec iated 730,629 3,802,222 - 4,532,851 Capit al assets, bei ng deprec iated: In frastruc ture 18,760,432 77,539 - 18,837,971 Buildings 1,460,962 - - 1,460,962 Furniture and equipment 2,749,501 377,515 (370,716)2,756,300 To tal capital assets, being deprec iated 22,970,895 455,054 (370,716) 23,055,233 Les s accumulated deprec iation for: In frastruc ture (10,525,852) (689,347) - (11,215,199) Buildings (1,124,497) (38,856) - (1,163,353) Furniture and equipment (2,111,829) (302,660) 370,716 (2,043,773) To tal ac cumulated deprec iation (13,762,178) (1,030,863) 370,716 (14,422,325) To tal capital assets, being deprec iated, net 9,208,717 (575,809) - 8,632,908 Gove rnmenta l activiti es ca pital asse ts, net 9,939,346$ 3,226,413 - 13,165,759 Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D16 IV.Detailed Notes on All Funds (continued) C.Capital Assets (continued) Be ginning En ding Ba lance Incre ases De cre ases Ba lance Busi ness-type acti vi ti es: Capit al assets, not being deprec iated: Land 244,320$ - - 244,320 Water right s 657,860 - - 657,860 Cons truction in progres s - 29,384 - 29,384 To tal capital assets, not being deprec iated 902,180 29,384 - 931,564 Capit al assets, being deprec iated: System and improvem ent s 23,658,913 17,914 - 23,676,827 Buildings and improvement s 9,531,390 31,691 - 9,563,081 Equipment 472,223 32,641 - 504,864 To tal capital assets, bei ng deprec iated 33,662,526 82,246 - 33,744,772 Les s accumulated deprec iation for: System and improvem ent s (11,524,080) (646,257) - (12,170,337) Buildings and improvement s (3,046,469) (277,241) - (3,323,710) Equipment (365,523) (15,050) - (380,573) To tal ac cumulated deprec iation (14,936,072) (938,548) - (15,874,620) To tal capital assets, bei ng deprec iated, net 18,726,454 (856,302) - 17,870,152 Busi ness-type acti vi ti es ca pital asse ts, ne t 19,628,634$ (826,918) - 18,801,716 In accordance with generally accepted accounting principles, the Town has elected to report general government infrastructure assets prospectively. Therefore, only general government infrastructure assets acquired since January 1, 2002 are included in the Town’s financial statements. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D17 IV.Detailed Notes on All Funds (continued) C.Capital Assets (continued) The Town had the following capital outlay and depreciation expense for the following functions: De pre ci ation Ca pita l Ex pense Outlay Governmental ac tivit ies : General government 37,811$ 3,802,222 Public work s, including infras truc ture 912,367 313,028 Publ ic safety 45,475 64,487 Culture and rec reat ion 35,210 77,539 Total gove rnmenta l acti vi ties 1,030,863$ 4,257,276 Busines s-type activi ties : Water 383,153$ 17,915 Was tewat er 555,395 93,715 Total business-type acti vi ti es 938,548$ 111,630 D.Interfund Receivables, Payables, and Transfers Transfers were as follows: In Out General 10,000$ (779,514) Cons ervat ion Tr us t - (10,000) Capi tal Equipment 379,514 - Capi tal Asset Fund 600,000 - Wastewat er - (100,000) Water - (100,000) 989,514$ (989,514) Transfers were to provide additional resources to meet the activities provided in each fund. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D18 IV.Detailed Notes on All Funds (continued) E.Other Liabilities 1.Financed Purchase Obligations In June 2018,the Town entered into a capital lease agreement for the purchase of a vehicle.The total amount financed was $66,278, with interest stated at 4.89% per annum. The lease requires annual payments of $14,551 through 2022. In August 2018, the Town entered into a capital lease agreement for the purchase of equipment. The total amount financed was $55,351 with interest stated at 5.36% per annum. The lease requires monthly payments of $1,284 through 2022. In October 2018, the Town entered into a capital lease agreement for the purchase of equipment. The total amount financed was $52,511 with interest stated at 6.43% per annum. The lease requires monthly payments of $1,244 through 2022. In April 2019, the Town entered into a capital lease agreement for the purchase of a Freightliner Truck. The total amount financed was $228,985 with interest stated at 5.14% per annum. The lease requires annual payments of $61,618 through 2022. All capital lease agreements were paid in full in 2022. 2.Accrued Compensated Absences Earned but unused vacation benefits amounted to $49,818 at December 31, 2022. All unused vacation benefits are recorded on the government-wide financial statements. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D19 IV.Detailed Notes on All Funds (continued) E.Other Liabilities (continued) 3.Schedule of Changes in Long-term Debt Ba lance Ba lance Due Within 1/1/22 Additions Re ductions 12/31/22 One Year Gove rnmental acti vi ti es: Financ ed purc has e obligation 92,205$ - (92,205) - - Accrued compensat ed abs enc es 21,779 5,532 - 27,311 - Total 113,984$ 5,532 (92,205) 27,311 - Busi ness-type activi ties: Accrued compensat ed abs enc es 22,507 - - 22,507 - Total 22,507$ - - 22,507 - F.Restricted Fund Balance The Town had the following restrictions on the fund balances at December 31, 2022: Ba lance Ba lance 1/1/22 Additi ons De leti ons 12/31/22 General Fund: Fees in lieu of Park 6,379$ - - 6,379 Affordable hous ing impac t fee 647,736 - - 647,736 Emergenc y res erves 275,000 78,000 - 353,000 Conservat ion Tr us t Fund 28,726 - (426) 28,300 Res tricted Revenue Fund 997,193 862,971 - 1,860,164 Wastewater Fund Operating reserve 54,084 1,112 - 55,196 Capital replacement res erve 584,444 - (73,392) 511,052 2,593,562$ 942,083 (73,818) 3,461,827 The Town had $638,528 restricted in the Wastewater Fund for Upper Fraser Valley Wastewater Treatment Joint Facilities operating and capital replacement expenses. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D20 IV.Detailed Notes on All Funds (continued) G.Committed Fund Balance The Town has the following commitments of the governmental fund balances at December 31, 2022: Ba lance Ba lance 1/1/22 Additi ons De leti ons 12/31/22 General Fund: Res erve savi ngs 1,500,000$ - - 1,500,000 Debt Service Fund: Capi tal projec ts 35,537 615 - 36,152 Capital Equipment Replac ement: Capi tal projec ts 313,032 12,676 - 325,708 1,848,569$ 13,291 - 1,861,860 H.Assigned Fund Balance The Town had the following assignments of the governmental fund balances at December 31, 2022: Ba lance Ba la nce 1/1/22 Additi ons De le ti ons 12/31/22 General Fund: Strategic res erves 1,500,000 - - 1,500,000 1,500,000$ 292,957 - 1,792,957 Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D21 V.Other Information A.Joint Facilities(“JF”) Operations and Maintenance Fund In 2002, the Fraser Sanitation District (the “District”), Winter Park Ranch, and Grand County #1 entered into an agreement to participate in the joint construction, maintenance, and operations of joint interceptor sewer lines and joint sewage treatment facilities. This new wastewater treatment plant has been constructed on the existing plant site of the District/Winter Park Ranch treatment facility and a new and/or expanded sewer trunk line from Grand County #1 will connect with the existing District/Winter Park Ranch interceptor line. Title of the new joint facilities will be allocated among these three members based on each member’s proportionate share of equivalent residential units to be serviced by the new plant. The District was dissolved into the Town effective December 31, 2009. Construction costs of these new facilities, excluding expenses relating to segment B of the joint trunk lines (“B-Line”) described below, are based on each member’s future share of equivalent residential units to be serviced by the new plant and are allocated as follows: Town –34.07% Winter Park Ranch –28.89% Grand County #1 –37.04% Under the Upper Fraser Valley Wastewater Agreement, a Joint Facilities Oversight Committee (“JFOC”) was established to represent the three members regarding the construction, expansion, operations, management, and maintenance of the new joint facilities. The JFOC is comprised of a total of nine members, with each member having three members. The Town was appointed as the manager of the joint facilities for 2022. The JFOC may designate a new manager on an annual basis. In 2022, as approved by the JFOC,the Town earned $37,800 in management fees. Operations and maintenance costs will be allocated among the three members based on each member’s proportionate share of equivalent residential units currently serviced by the new plant. In addition, upon certification of the new joint facilities, this agreement requires the establishment of an operations and maintenance reserve fund equal to three months operations and maintenance costs and a capital replacement reserve fund, the amount which is determined by the JFOC. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D22 V.Other Information (continued) A.Joint Facilities (“JF”) Operations and Maintenance Fund (continued) 1.Maryvale Village (Rendezvous) The District entered an agreement on May 9, 2000, with Maryvale Village, L.L.C., and several individuals (collectively referred to as the “Rendezvous”), Maryvale Commercial Metropolitan District, and Maryvale Residential Metropolitan District (these districts are collectively referred to as the “Maryvale Districts”) that permitted the inclusion of the Maryvale development within the District’s boundaries in order to receive sanitation services, in exchange for inclusion fees. Pursuant to this agreement, Rendezvous and the Maryvale Districts are responsible for the construction of sewer main extensions and related infrastructure from the existing District sewer main to the Maryvale development. These sewer main extensions and related infrastructure will ultimately be conveyed to the District at the time these projects are completed or begin to be used, whichever comes first, subject to the District’s acceptance of these assets. As of December 31, 2022,Maryvale development sewer mains and infrastructure had been conveyed to the District, and is presented as an asset on the Town’s financial statements. Per this agreement, in exchange for the District agreeing to oversize the new wastewater treatment plant described earlier, the Developer and Maryvale Districts agreed to cover the amount of any shortfall in the District’s CWRPDA loan payments by pre-purchasing tap fees. In addition, this agreement requires the Developer and Maryvale Districts to establish an escrow account in the amount of $160,000 to guarantee their compliance in the event of a default regarding their pre-purchase obligations. As of December 31, 2022, no prepaid tap fees have been required or made by the Developer and the Maryvale Districts. This guarantee was released in 2009. 2.Pre-Inclusion Agreement -Cornerstone The District entered an agreement on April 5, 2005, with Cornerstone Winter Park Holdings, L.L.C. (“Cornerstone”) that permits the inclusion of a portion of Cornerstone’s development within the District’s boundaries in order to receive sanitation services for inclusion fees. Cornerstone shall be responsible for constructing, paying for and installing all sewer lines and any related facilities within the property including all lines, manholes and mains.This infrastructure will ultimately be conveyed to the District at the time these projects are completed or begin to be used, whichever comes first, subject to the District’s acceptance of these assets. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D23 V.Other Information (continued) B.Retirement Plans –Defined Contribution Pension Plan –Section 401(a) The Town is a member of Colorado Retirement Association (“CRA”). CRA was established to provide retirement benefits to employees of Colorado local governments. As a member, the Town participates in the CRA retirement plan created in accordance with Internal Revenue Code Section 401(a) (the “401(a) Plan”), which is a defined contribution pension plan. Employees of the Town are required to participate in the 401(a) Plan after 6 months of service. Each eligible employee is required to contribute 4% of gross wages to the 401(a) Plan. The Town matches employee contributions at the same rate and these matched dollars have a vesting period of 5 years. The Town is neither the trustee nor the administrator for the 401(a) Plan. The seven-member governing board of CRA makes all necessary rules and is responsible for administration of the funds in the 401(a) Plan. Benefits payable at retirement, death, termination, or other unforeseen circumstance are based on the accumulated account balance of each employee. Upon termination of service with the Town, any unvested amounts will be forfeited and may be used to pay plan expenses or Employer’s contributions to the 401(a) Plan. During 2022, the Town recognized $66,848 of expense under this plan. The Town has $0 of forfeitures included in the 2022 401(a) Plan expense. The Town had a liability of $5,092 due to the 401(a) Plan at December 31, 2022. C.Retirement Plans –Deferred Compensation Plan –Section 457(b) The Town also participates in the CRA retirement plan created in accordance with Internal Revenue Code Section 457(b)(the “457(b)Plan”), which is a deferred compensation plan. The plan permits employees to defer a portion of their salary until future years. All contributions to the 457(b)Plan and all income attributable to those amounts are to be held in trust for the exclusive benefit of the plan participants and their beneficiaries. Plan investment purchases are determined by the plan participant and therefore, the plan’s investment concentration varies between participants. The Town matches up to 2% of employee contributions and these matched dollars are vested immediately. The Town has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The Town is neither the trustee nor the administrator for the plan. The seven-member governing board of CRA makes all necessary rules and is responsible for administration of the funds in the 457(b)Plan. Benefits payable at retirement, death, termination, or other unforeseen circumstance are based on the accumulated account balance of each employee. The Town recognized $19,111 of pension expense related to the 457(b) Plan during 2022 and had a liability of $4,321 due to the 457(b)Plan at December 31, 2022. D.Other Employee Benefits -Post Employment Health Care Benefits All Town employees covered by State continuation insurance may continue their health insurance due to a reduction in work hours or termination of employment (for reasons other than "gross misconduct") for up to 18 months after the occurrence of one of these events. Eligible dependents may continue coverage for up to 36 months. Employees who elect continued coverage do so through Colorado Employer Benefit Trust (CEBT) who is a multiple employer trust for public institutions providing employee benefits. CEBT partnered with 24HourFlex as the COBRA administer for all CEBT employers. No cost to the Town is recognized as employees pay through 24HourFlex. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D24 V.Other Information (continued) E.Intergovernmental Agreements 1.Public Safety Services In lieu of directly providing public safety services, the Town has entered into an agreement with the Town of Winter Park, Colorado to form a joint public safety force effective May 1, 2005 and amended March 21, 2012. The agreement requires costs to be split 65% to Winter Park and 35% to Fraser, based upon average call volume, but reevaluated annually and may be amended as agreed upon by both parties. 2.Building Department The Town has entered into an agreement January 20, 2010 to form a joint building services department with the Town of Winter Park, Colorado and the Town of Granby, Colorado.According to the agreement, quarterly expenses are to be split based upon the portion of revenue collected for each Town, but may be adjusted annually by mutual agreement based on permits issued, inspections performed, time expended by personnel, vehicle depreciation and mileage and other measures. 3.Transportation Agreement The Town has entered into an agreement on June 19, 2018 with the Town of Winter Park to provide transit services. The terms of the agreement automatically renew for 10 one-year periods unless either party provides written notice of nonrenewal on or before June 30th of the prior year. Pursuant to the agreement, the Town pays a monthly management fee equal to 10% of Winter Park’s management costs of the Transit System, as well as all operating costs incurred for the Town’s portion of the route. 4.Water Storage Agreement In 2018, the Town purchased 25 acre-feet of water rights at Grand County Water Storage Reservoir. Pursuant to the terms of the operating agreement, the Town of Fraser and the Town of Winter Park will split costs associated with Maintenance and Capital Reserves as needed by Grand County Water Storage Reservoir. F.Risk Management The Town is exposed to various risks of loss related to workers’ compensation, general liability, and worker unemployment. The Town has acquired commercial coverage for these risks. Any settled claims are not expected to exceed the commercial insurance coverage. The Town is also exposed to the risks of loss related to torts; theft of, damage to, and destruction of assets; and errors and omissions. The Town is a member of the insurance pool described below to cover these risks. Pursuant to an inter-local agreement authorized by state statute, the Town joined the Colorado Intergovernmental Risk Sharing Agency (“CIRSA”) to provide insurance coverage. Members of the board of directors are nominated and elected by members to two-year, staggered terms and meet at least monthly to direct operations. CIRSA budgets are funded by contributions from member governments. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D25 V.Other Information (continued) F.Risk Management (continued) The December 31, 2022 combined financial information is as follows: Cas h and inves tment s 84,448,127$ Ot her as sets 12,479,376 Total 96,927,503 Liabilit ies 52,728,701 Net pos ition 44,198,802 Total 96,927,503 To tal revenue 32,686,577 To tal expens e (44,606,905) (De fi ci ency) of Revenue Ove r Ex pense (11,920,328) Coverage provided by CIRSA is as follows: 1) $250,000 per claim/occurrence property; 2) $1,000,000 per claim/occurrence liability; and 3) $150,000 per claim/occurrence crime. CIRSA has also acquired additional excess coverage from outside sources. The Town may be liable for any losses in excess of the above coverage. At December 31, 2022, the Town does not expect to incur losses in excess of the above coverage. Surpluses or deficits for any year are subject to change for reasons which include: interest earnings on invested amounts for those years and funds, re-estimation of losses for those years and funds, and credits or distributions from surplus for those years and funds. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D26 V.Other Information (continued) G.Tax Abatements 1.Fraser Still Project The Town has entered into an Agreement for Certain Economic Inducements and Incentives in order to meet development goals within certain areas of the Town. According to the agreement, the development area Fraser Still Project has the following continuing development requirements or abatement agreements requiring disclosure: Re ve nue s impacte d Amount Re quire ments Permit and Review Fees Rebate of $1.000 per square foot of new us able commerc ial space cons truc ted Paid to the owner Sales tax 100% for fi ve years from date of CO issuanc e, 50% of sales tax for 5 additional years thereafter Paid to the owner Us e Ta x 100% of the building and cons truc tion us e tax Waived Ad valorem real and pers onal property taxes 100% for the tax year prec eding the date of CO issuanc e and four years thereafter Paid to the owner Plant inve stment fees Due in three annual ins tallments without interes t, 1 year after the date of CO issuanc e Paid to the To wn Service fees Waived until the earlier of issuanc e of CO, or June 6, 2020 Waived In exchange to the above tax abatements, the owner agrees to develop and run a distillery business on the property.During the year ended December 31, 2022, the Town reimbursed Sales Tax of $75,717 to the Youngs Real Estate CO LLC, owners of Fraser Valley Distilling. The Town also deferred Plant Investment Fees of $10,133. Service Fees are no longer waived per the agreement. Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D27 V.Other Information (continued) H.Tax Abatements (continued) 2.Watt Investments, LLP The Town has entered into an Agreement for Certain Economic Inducements and Incentives in order to meet development goals within certain areas of the Town. According to the agreement, the development area Vicious Cycle has the following continuing development requirements or abatement agreements requiring disclosure: Re ve nue s impacte d Am ount Re quire ments Perm it and Review Fees Rebat e of $1.000 per square foot of new us able commerc ial space cons truc ted Paid to the owner Sales tax 100% for fi ve years from date of CO issuanc e, 50% of sales tax for 5 additional years thereafter Paid to the owner Us e Ta x 100% of the building and cons truc tion us e tax Waived Ad valorem real and pers onal propert y taxes 100% for the tax year prec eding the dat e of CO issuanc e and four years thereaft er Paid to the owner Plant inve stment fees Due in three annual ins tallments without int eres t, 1 year after the date of CO issuanc e Paid to the To wn Service fees Waived until the earlier of issuanc e of CO, or Oc tober 9, 2022 Waived In exchange to the above tax abatements, the owner agrees to develop and run a retail business on the property. During the year ended December 31, 2022, the Town rebated the Permit and Review Fees of $4,717 to Watt Investments LLP in February 2023, owners of Vicious Cycle Brewing. Vicious Cycle Brewing is still in the building phase so reimbursement of Sales Tax has not occurred. Plant Investment Fees of $30,400 is still deferred. (THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK) Town of Fraser Notes to the Financial Statements December 31, 2022 (Continued) D28 V.Other Information (continued) H.Tax Abatements (continued) 3.Grand Park The Town has entered into an Agreement for Certain Economic Inducements and Incentives in order to meet development goals within certain areas of the Town. According to the agreement, the development area Village at Grand Park has the following continuing development requirements or abatement agreements requiring disclosure: Re ve nue s impacte d Am ount Re quire ments Perm it and Review Fees Rebat e of $1.000 per square foot of new us able commerc ial space cons truc ted Paid to the owner Sales tax 100% for fi ve years from date of CO issuanc e, 50% of sales tax for 5 additional years thereafter Paid to the owner Us e Ta x 100% of the building and cons truc tion us e tax Waived Ad valorem real and pers onal propert y taxes 100% for the tax year prec eding the dat e of CO issuanc e and four years thereaft er Paid to the owner Plant inve stment fees Due in three annual ins tallments without int eres t, 1 year after the date of CO issuanc e Paid to the To wn Service fees Waived until the earlier of issuanc e of CO, or June 7, 2020 Waived In exchange to the above tax abatements, the owner agrees to develop and run a retail business on the property. The Village at Grand Park buildings are still in the building phase so reimbursement of Sales Tax has not occurred. Plant Investment Fees of $408,100 is still deferred.Service Fees are no longer waived per the agreement. 4.Prepaid Plant Investment Fees The Town also entered into annexation agreements with two developers that provided for the use of Plant Investment Fees to fund water system capital improvements within the developments. The agreements essentially provide that the Town will not retain Plant Investment Fees paid by building permit applicants within these developments until such time as the total Plant Investment Fees paid exceeds the certified costs of regional water capital improvements within the developments. Currently the developers have certified water regional infrastructure improvements totaling $3,267,814 and a total of $2,255,942 of Plant Investment Fees have been rebated to the developer.The remaining balance is to be rebated to Byers View Metro District. The above agreements were authorized by the Town Board after analyzing criteria that includes the ability to encourage development within the specific abatement area. REQUIRED SUPPLEMENTARY INFORMATION 2021 Original and Variance Final Positive Budget Actual (Negative) Actual Revenues: Taxes 4,241,235 5,989,368 1,748,133 5,561,047 Licenses and fees 215,000 244,205 29,205 285,903 Charges for services 282,000 307,008 25,008 152,385 Intergovernmental 521,645 3,340,372 2,818,727 303,394 Interest 4,500 158,780 154,280 3,324 Other revenue 155,000 373,844 218,844 182,006 Total Revenues 5,419,380 10,413,577 4,994,197 6,488,059 Expenditures: General government 2,772,530 2,324,851 447,679 1,802,766 Public safety 732,000 690,282 41,718 587,763 Public works 3,099,019 1,712,105 1,386,914 1,947,808 Culture and recreation 537,400 3,993,852 (3,456,452) 30,866 Total Expenditures 7,140,949 8,721,090 (1,580,141) 4,369,203 Excess (Deficiency) of Revenues Over Expenditures (1,721,569) 1,692,487 3,414,056 2,118,856 Other Financing Sources (Uses): Transfer in 16,379 10,000 (6,379) - Transfer (out) (287,600) (179,514) 108,086 (110,000) Total Other Financing (Uses)(271,221) (169,514) 101,707 (110,000) Excess (Deficiency) of Revenues Over Expenditures and Other Financing Sources (Uses)(1,992,790) 1,522,973 3,515,763 2,008,856 Fund Balances - Beginning of Year 4,451,669 8,529,401 4,077,732 6,520,545 Fund Balances - End of Year 2,458,879 10,052,374 7,593,495 8,529,401 2022 Town of Fraser, Colorado General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances Budget (GAAP Basis) and Actual For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) The accompanying notes are an integral part of these financial statements. E1 2021 Original and Variance Final Positive Budget Actual (Negative) Actual Taxes: Property 575,735 442,838 (132,897) 352,469 Specific ownership 12,000 27,853 15,853 27,175 Sales & use 3,590,000 5,366,256 1,776,256 5,043,411 Franchise 60,000 148,318 88,318 130,862 Motor vehicle 500 - (500) - Cigarette 3,000 4,103 1,103 7,130 Total 4,241,235 5,989,368 1,748,133 5,561,047 Licenses and Fees: Business license fees 15,000 20,455 5,455 13,960 Regulated Industry fees 200,000 223,750 23,750 271,943 Total 215,000 244,205 29,205 285,903 Charges for services: Planning and building fees 75,000 88,849 13,849 121,205 Disposable bag fees 25,000 64,408 39,408 31,180 Other charges 182,000 153,751 (28,249) - Total 282,000 307,008 25,008 152,385 Intergovernmental: Grant revenue 521,645 3,340,372 2,818,727 303,394 Total 521,645 3,340,372 2,818,727 303,394 Interest: Earnings on deposits 4,500 158,780 154,280 3,324 Total 4,500 158,780 154,280 3,324 Other: Other income 145,000 367,128 222,128 174,587 Rents 10,000 6,716 (3,284) 7,419 Total 155,000 373,844 218,844 182,006 Other Financing Sources: Transfer in 16,379 10,000 (6,379) - Total 16,379 10,000 (6,379) - Total Revenues 5,435,759 10,423,577 4,987,818 6,488,059 2022 Town of Fraser, Colorado General Fund Schedule of Revenues Budget (GAAP Basis) and Actual For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) The accompanying notes are an integral part of these financial statements. E2 2021 Original and Variance Final Positive Budget Actual (Negative) Actual General Government: Town board salaries 59,678 52,958 6,720 48,469 Town board community enhancement 1,035,750 426,238 609,512 317,323 Miscellaneous 20,000 14,805 5,195 12,349 Administrative salaries 663,851 705,495 (41,644) 657,571 Other purchased services 785,976 930,232 (144,256) 624,785 Utilities 21,275 20,398 877 20,542 Property management 186,000 144,944 41,056 46,502 Fiscal agent salaries - 26,829 (26,829) 37,425 Capital outlay - 2,952 (2,952) 37,800 Total General Government 2,772,530 2,324,851 447,679 1,802,766 Public Safety 732,000 690,282 41,718 587,763 Total Public Safety 732,000 690,282 41,718 587,763 Public Works Salaries and benefits 1,209,089 738,701 470,388 728,505 Other purchased services 422,500 351,713 70,787 323,355 Utilities 12,080 13,817 (1,737) 9,145 Property management 413,500 81,579 331,921 117,871 Capital outlay 1,041,850 526,295 515,555 768,932 Total Public Works 3,099,019 1,712,105 1,386,914 1,947,808 Culture and Recreation Salaries and benefits 460,000 174,204 285,796 12,470 Other purchased services 15,000 15,358 (358) 15,439 Utilities 2,400 2,435 (35) 2,424 Property management 60,000 44,811 15,189 533 Capital outlay - 3,757,044 (3,757,044) - Total Culture and Recreation 537,400 3,993,852 (3,456,452) 30,866 Other Financing Uses Transfer out 287,600 179,514 108,086 110,000 Total Financing Sources 287,600 179,514 108,086 110,000 Total Expenditures 7,428,549 8,900,604 (1,472,055) 4,479,203 2022 Town of Fraser, Colorado General Fund Schedule of Expenditures and Transfers Budget (GAAP Basis) and Actual For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) The accompanying notes are an integral part of these financial statements. E3 Conservation Trust Fund 2021 Original and Variance Final Positive Budget Actual (Negative) Actual Revenues: Lottery proceeds 7,000 9,080 2,080 8,107 Grants - 50,000 - - Interest 75 494 419 11 Total Revenues 7,075 59,574 2,499 8,118 Expenditures: Other - 50,000 (50,000) - Total Expenditures - 50,000 (50,000) - Other Financing Uses Transfer (Out) (10,000) (10,000) - - Total Financing Sources (10,000) (10,000) - - Excess (Deficiency) of Revenues Over Expenditures (2,925) (426) 52,499 8,118 Fund Balances - Beginning of Year 27,683 28,726 1,043 20,608 Fund Balances - End of Year 24,758 28,300 53,542 28,726 Schedule of Revenues, Expenditures and Changes in Fund Balances Special Revenue Fund Town of Fraser, Colorado 2022 For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) Budget (GAAP Basis) and Actual The accompanying notes are an integral part of these financial statements. E4 Restricted Revenue Fund 2021 Original and Variance Final Positive Budget Actual (Negative)Actual Revenues: Taxes 800,000 1,214,442 414,442 1,078,117 Intergovernmental 11,000 - (11,000) 21,460 Interest 400 26,036 25,636 256 Total Revenues 811,400 1,240,478 429,078 1,099,833 Expenditures: General government Transportation 400,000 314,100 85,900 570,290 Trails 223,500 63,407 160,093 69,927 Total Expenditures 623,500 377,507 245,993 640,217 Excess (Deficiency) of Revenues Over Expenditures 187,900 862,971 675,071 459,616 Fund Balances - Beginning of Year 696,977 997,193 300,216 537,577 Fund Balances - End of Year 884,877 1,860,164 975,287 997,193 2022 Town of Fraser, Colorado Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balances Budget (GAAP Basis) and Actual For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) The accompanying notes are an integral part of these financial statements. E5 SUPPLEMENTARY INFORMATION 2021 Original and Variance Final Positive Budget Actual (Negative)Actual Revenues: Interest 100 614 514 17 Total Revenues 100 614 514 17 Excess (Deficiency) of Revenues Over Expenditures 100 614 514 17 Fund Balances - Beginning of Year 1,927 35,538 33,611 35,521 Fund Balances - End of Year 2,027 36,152 34,125 35,538 Schedule of Revenues, Expenditures and Changes in Fund Balances Debt Service Fund Town of Fraser, Colorado 2022 For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) Budget (GAAP Basis) and Actual The accompanying notes are an integral part of these financial statements. F1 2021 Original and Variance Final Positive Budget Actual (Negative)Actual Revenues: Highway users revenue 48,346 51,626 3,280 58,884 Earnings on investments 200 2,523 2,323 92 Total Revenues 48,546 54,149 5,603 58,976 Expenditures: Capital lease 115,000 96,348 18,652 106,496 Equipment 374,000 379,514 (5,514) 53,873 Total Expenditures 489,000 475,862 13,138 160,369 Excess (Deficiency) of Revenues Over Expenditures (440,454) (421,713) 18,741 (101,393) Other Financing Sources: Transfer In 344,000 379,514 35,514 200,000 Sale of assets - 54,875 54,875 8,730 Total Other Financing Sources 344,000 434,389 90,389 208,730 Excess (Deficiency) of Revenues and Other Financing Sources Over Expenditures (96,454) 12,676 109,130 107,337 Fund Balances - Beginning of Year 97,895 313,032 215,137 205,695 Fund Balances - End of Year 1,441 325,708 324,267 313,032 Capital Equipment Replacement Fund Town of Fraser, Colorado (With Comparative Actual Amounts for 2021) 2022 For the Year Ended December 31, 2022 Budget (GAAP Basis) and Actual Schedule of Revenues, Expenditures and Changes in Fund Balances The accompanying notes are an integral part of these financial statements. F2 2021 Original and Variance Final Positive Budget Actual (Negative)Actual Revenues: Tap fees 154,000 200,200 46,200 586,365 User fees 1,098,075 1,128,078 30,003 1,118,075 Water meter fees 50,000 77,077 27,077 92,462 Interest income 3,000 49,666 46,666 953 Excavation permits 275 550 275 2,475 Other 2,500 6,444 3,944 3,912 Total Revenues 1,307,850 1,462,015 154,165 1,804,242 Expenditures: Personnel: Salaries 378,536 328,415 50,121 317,521 Retirement 35,066 19,199 15,867 16,499 Health insurance 81,878 59,449 22,429 62,852 Travel and training 9,000 1,674 7,326 1,822 Total 504,480 408,737 95,743 398,694 Commodities: Insurance 20,000 - 20,000 15,620 Supplies 83,000 59,569 23,431 80,202 System repair and maintenance 437,000 180,110 256,890 118,435 Testing 10,000 2,205 7,795 2,787 Telephone 12,000 11,659 341 11,582 Utilities 50,000 46,392 3,608 42,163 Miscellaneous 66,500 578 65,922 5,763 Total 678,500 300,513 377,987 276,552 Contractual: Legal 65,000 40,534 24,466 55,381 Engineering 100,000 140,301 (40,301) 104,986 Other professional services 105,500 8,118 97,382 4,604 Professional memberships 9,500 6,418 3,082 5,542 Total 280,000 195,371 84,629 170,513 Other: Transfer to Other Fund 122,000 100,000 22,000 45,000 Capital projects and purchases 805,000 - 805,000 - Water rights 65,000 11,998 53,002 10,104 Total 992,000 111,998 880,002 55,104 Total Expenditures 2,454,980 1,016,619 1,438,361 900,863 Excess (Deficiency) of Revenues Over Expenses (Budget Basis)(1,147,130) 445,396 1,592,526 903,379 Reconciliation from Budget Basis to GAAP Basis: Capitalized assets - 6,500 Depreciation (383,152) (397,430) Excess (Deficiency) of Revenues Over Expenses (GAAP Basis)62,244 512,449 Net Position - Beginning of Year 11,917,042 11,404,593 Net Position - End of Year 11,979,286 11,917,042 2022 Town of Fraser, Colorado Enterprise Fund Water Fund Schedule of Revenues, Expenditures and Change in Net Position Budget (Non-GAAP) Basis and Actual With Reconciliation to GAAP Basis (With Comparative Actual Amounts for 2021) For the Year Ended December 31, 2022 The accompanying notes are an integral part of these financial statements. F3 2021 Original and Variance Final Positive Budget Actual (Negative)Actual Revenues: Tap fees 150,000 165,000 15,000 796,875 User fees 985,702 916,639 (69,063) 902,465 Management fees 37,800 37,800 - 29,000 Interest income 10,000 104,182 94,182 3,084 Other - - - 1,543 Total Revenues 1,183,502 1,223,621 40,119 1,732,967 Expenditures: Personnel: Salaries 408,861 361,617 47,244 336,963 Retirement 36,291 21,363 14,928 17,372 Health insurance 87,908 64,159 23,749 66,222 Travel and training 8,000 - 8,000 368 Total 541,060 447,139 93,921 420,925 Commodities: Insurance 12,000 - 12,000 10,137 Supplies 2,500 700 1,800 958 System repair and maintenance 280,500 176,184 104,316 420,083 Testing 1,000 - 1,000 - Telephone 5,000 3,352 1,648 3,436 Miscellaneous 3,000 1,267 1,733 4,011 Total 304,000 181,503 122,497 438,625 Contractual: Legal 5,000 - 5,000 - Engineering 85,000 83,764 1,236 - Other professional services 385,500 394,379 (8,879) 274,989 Treasurer's and bank fees 100 - 100 - Professional memberships 6,000 5,463 537 5,314 Total 481,600 483,606 (2,006) 280,303 Other: Transfer to Other Fund 95,000 100,000 (5,000) 45,000 Capital Reserve payments - - - - Total 95,000 100,000 (5,000) 45,000 Total Expenditures 1,421,660 1,212,248 209,412 1,184,853 Excess (Deficiency) of Revenues Over Expenses (Budget Basis)(238,158) 11,373 249,531 548,114 Reconciliation from Budget Basis to GAAP Basis: Capitalized assets 93,716 264,624 Depreciation (555,395) (548,999) Excess (Deficiency) of Revenues Over Expenses (GAAP Basis)(450,306) 263,739 Net Position - Beginning of Year 17,168,917 16,905,178 Net Position - End of Year 16,718,611 17,168,917 For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) 2022 Town of Fraser, Colorado Enterprise Fund Wastewater Fund Schedule of Revenues, Expenditures and Change in Net Position Budget (Non-GAAP) Basis and Actual With Reconciliation to GAAP Basis The accompanying notes are an integral part of these financial statements. F4 2021 Final Budget Variance Original Final Positive Budget Budget Actual (Negative)Actual Revenues: JF operating charges 1,197,640 1,197,640 1,378,595 180,955 956,420 JF capital reserve contributions - - 74,662 74,662 - Interest revenue 3,400 3,400 19,548 16,148 1,275 Other revenue - - 4,321 4,321 5,182 Transfer in - - - - 27,277 Total Revenues 1,201,040 1,201,040 1,477,126 276,086 990,154 Expenses: Training programs 4,500 4,500 925 3,575 450 Travel, meals and lodging 4,500 4,500 1,048 3,452 - Meals and entertainment 600 600 308 292 57 Professional fees 888,000 888,000 135,630 752,370 194,263 Engineering fees 15,000 15,000 - 15,000 4,242 Financial services 50 50 193 (143) 59 Sludge removal 80,000 80,000 133,289 (53,289) 71,829 Other professional services 20,000 20,000 10,489 9,511 7,881 Insurance 50,000 50,000 60,266 (10,266) 37,199 Advertising 1,000 1,000 - 1,000 44 Plant maintenance & repair 65,000 65,000 35,067 29,933 36,189 Grounds maintenance 2,500 2,500 1,093 1,407 669 Equipment rental 1,000 1,000 - 1,000 85 Professional memberships 900 900 162 738 216 Operating supplies 116,000 116,000 226,855 (110,855) 117,839 Equipment purchase and repair 32,000 32,000 24,418 7,582 21,023 Testing 85,000 85,000 101,418 (16,418) 70,382 Permits 15,000 15,000 - 15,000 - Utilities 217,950 217,950 200,958 16,992 220,042 Vehicles 8,000 8,000 11,765 (3,765) 12,007 Miscellaneous 2,500 2,500 - 2,500 3,625 Capital projects 818,500 818,500 242,435 576,065 785,789 Payroll expenses 454,640 454,640 350,044 104,596 323,706 Total Expenses 2,882,640 2,882,640 1,536,363 1,346,277 1,907,596 Excess (Deficiency) of Revenues Over Expenses (Budget Basis)(1,681,600) (1,681,600) (59,237) 1,622,363 (917,442) Reconciliation from Budget Basis to GAAP Basis: Capital reserve reduced by capital expenses 157,769 923,899 Capital reserve increased by contributions (74,662) - Capital reserve increased by interest income (19,397) (1,178) Capital reserve increased by other income (4,321) (5,182) Operating reserve increased by interest income (152) (97) Excess (Deficiency) of Revenues Over Expenses (GAAP Basis)- - JF Operations and Maintenance Schedule of Revenues & Expenses 2022 Town of Fraser, Colorado For the Year Ended December 31, 2022 (With Comparative Actual Amounts for 2021) Budget (Non-GAAP) Basis and Actual With Reconciliation to GAAP Basis The accompanying notes are an integral part of these financial statements. F5 This application was created by another user, not by Google. Terms of Service Steps for printing your content and returning to 'Edit Mode 1. Click Ctrl + A on a Windows machine or Command + A on a Mac to select all data. 2. Right -click your mouse and select Print. 3. Confirm that print settings are correct - make sure "selection only" isn't checked. 4. Print hard copy or to PDF. 5. Click "Edit Mode" to return to modifying your data. 6. Remember to click "Save" to save any changes. Annual Highway Finance Report - CY22 Email address: rclemens®town.fraser.co.us City/County: Fraser Receipts, Disbursements a Costs I II I I Recei its for Roadad 8; Streelt 1113u,ii o• ;eS A. Receipts from local sources 2. General Fund Appropriations: 3. Other local imposts: from A.3. Total' below) 4. Miscellaneous local receipts: fromA.4. Total' below) 5. Transfers from toll facilities 6. Proceeds of sale of bonds and notes a. Bonds - Original Issues: b.1 Bonds - Refunding Issues: c. Notes: B. Private Contributions Receipts, Disbursements a Costs 1,175,589.00 1,036,764.00 57,398.00 0.00 0.00 0.00 0.00 SubTotal: $ 2,269,751.00 0.00 111111 11 ecel sts tor R. ad 8; Street 1113u,ii 91'S L)2 aid This application was created by another user, not by Google. Terms of Service 1 r A.3.1 Other local imposts a. Property Taxes Rand Assessments b. Other Local Imposts 1. Sales Taxes: 2. Infrastructure and Impact Fees: 3. Liens: 4. Licenses: 5. Specific Ownership and/or Other: A.4.1 Miscellaneous local receipts a. Interest on Investments: b. Traffic fines and Penalities: c. Parking Garage Fees: d. Parking Meter Fees: e. Sale of Surplus Property: f. Charges for Services: g. Other Misc. Receipts: h. Other: C. Receipts from State Government 1. Highway User Taxes: 3. Other State funds: c. Motor Vehicle Registrations: d. Other (Specif Comments: undefined e. Other (Specif : Comments: HB22-1351 Funds D. Receipts from Federal Government 2. Other Federal Agencies a. Forest Service: 442,838.00 59,589.00 508,487.00 0.00 0.00 25,850.00 Total: (a + b) carried to 'Other local imposts' above) $ 1,036,764.00 2,523.00 0.00 0.00 0.00 54,875.00 0.00 0.00 0.00 Total: (a through h) carried to 'Mist local receipts' above) $ 57, 398.00 51,007.00 0.00 0.00 5,198.00 Total: (1+3c,d,e) $56,205.00 0.00 This application was created by another user, not by Google. Terms of Service b. FEMA: c. HUD: d. Federal Transit Administration: e. U.S. Corp of Engineers f. Other Federal: Receipts, Disbursements a Costs 1 11 1 1 11l luii se h ill r s for. Road a StreetIll3di A. Local highway disbursements 1. Capital outlay: (fromA.1.d. Total Capital Outlay below) 2. Maintenance: 3. Road and street services a. Traffic control operations: b.1 Snow and ice removal: c. Other: 4. General administration and miscellaneous 5. Highway law enforcement and safety B. Debt service on local obligations 1. ; Bonds a. ;Interest b. ;Redemption 2.1 Notes a. ;Interest b. ;Redemption Total: (2a -f) $ Total: (A.1 -s) $ 0.00 0.00 0.00 0.00 0.00 0.00 556, 887.00 348,749.00 17,873.00 548,035.00 0.00 99,643.00 754,769.00 2,325,956.00 0.00 0.00 0.00 0.00 SubTotal: (1+z) $ 0.00 This application was created by another user, not by Google. Terms of Service A. ON NATIONAL B. OFF NATIONAL HIGHWAY SYSTEM HIGHWAY SYSTEM C. TOTAL A.1. Capital Outlay a. Right -Of -Way Costs: b. Engineering Costs: c. Construction 1. New Facilities: 2. ;Capacity Improvements: 3. System Preservation: 4. System Enhancement: 5. Total Construction: d. Total Capital Outlay: (LinesA.1.a. + 1,b. + 1.c.5) Receipts, Disbursements a Costs ely De, A. Bonds (Total) 1. Bonds Refunding Portion) B. Notes (Total): $ SIealL»s 0.00 0.00 0.00 0.00 36,003.00 36,003.00 0.00 0.00 0.00 0.00 104,999.00 104,999.00 0.00 415,885.00 415,885.00 0.00 0.00 0.00 520,884.00 556,887.00 OPENING DEBT AMOUNT ISSUED REDEMPTIONS CLOSING DEBT 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 0.00 0.00 illy„ U/ll Y/'%/0/,10/,, ,,,, ,,,, l l il l l l 'Y l J/ l l Y l,,,,,1,,'0/%/%/%/Ill/ O,#21%///l0%/'%/0/,10/,, ,,,, ,,,, 1 / l l l l 'Y / / / l l Y/'%/,,,oo«ooooo«ooooo«ooooo Receipts, Disbursements a Costs This application was created by another user, not by Google. Terms of Service A. Bonds (Total) 1. Bonds Refunding Portion) B. Notes (Total): $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ Receipts, Disbursements a Costs V Local Road Il aliai"ylce 0.00 0.00 0.00 A. Beginning C.Total E. Reconciliation Balance B. Total Receipts Disbursements D. Ending Balance 0.00 $ 2,325,956.00 $ 2,325,956.00 $ 0.00 $ 0.00 Notes and Comments: undefined Please enter your name: Rob Clemens Please provide a telephone number where you may be reached: 970-531-9938 Save Print Mode [ Edit Mode Please click on the "Save" button before viewing the data in a print format. Contact: Paige Castaneda 1 Email: Paige.Castaneda@state.co.us 1 Phone: 303.512.4914 2022 FORM FHWA-536e(Version 9.00) - CY22 Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 1 of 6 BOARD OF TRUSTEES Date Prepared: September 13, 2023 STAFF REPORT & REQUEST FOR BOARD ACTION Meeting Date: September 20, 2023 RE: Riverwalk Mixed Use Overlay District conversion to Riverwalk District To: Town of Fraser Board of Trustees From: Will Charles, AICP, Baseline Thru: Ben Thurston, AICP, Baseline Project Number: TF-23-11 Applicant: Town of Fraser Property Owner: All properties currently located within the RMU Overlay District CC: Michael Brack, Fraser Town Manager MATTER BEFORE THE BOARD OF TRUSTEES: A code amendment to chapter 19 that would remove the Riverwalk Mixed Use (RMU) Overlay District create the Riverwalk (RW) District, a new standard zone district, and ground floor commercial along certain frontages. ACTION REQUESTED: The Town of Fraser requests an amendment to the Land Development Code to remove the RMU Overlay district, add the RW district, and require ground floor commercial along Highway 40 and Clayton Court in the new district. BACKGROUND & REQUEST The Riverwalk Mixed Use Overlay District was created to implement the goals and objectives established by the 2017 Downtown Fraser Strategic Plan. Some of these goals include making the area a walkable mixed-use neighborhood, creating a riverwalk along the Fraser River, enhancing the downtown street grid, and maintain the funky/eclectic design of Fraser. While these goals are still the vision for the area, the overlay district has led to confusion for applicants and staff due to discrepancies between the underlying Business (B) Zone District and the Riverwalk Mixed Use (RMU) Overlay District. At the June 7, 2023 Board of Trustees meeting, the properties along Clayton Court were rezoned from the Medium Density Single Family (MDSF) Zone District to the Business (B) Zone District. With this change, the RMU now only encompasses properties zoned Business (B). Additionally, the Town Manager recently directed staff to prepare a code amendment to require ground floor commercial adjacent to Highway 40 and Clayton Court for new development or redevelopment. On July 26, 2023, staff presented a workshop to the Planning Commission regarding a proposal to remove the RMU Overlay District, add a new Riverwalk (RW) Zone District, and incorporate a ground floor commercial requirement. At the conclusion of the workshop, the Planning Commission directed staff to proceed with the Town-initiated code amendment to achieve these goals. On August 16, 2023 Planning Commission approved a resolution recommending approval of the code amendment, and further discussion on this meeting is provided below. Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 2 of 6 2017 DOWNTOWN FRASER STRATEGIC PLAN – DESIGN FRAMEWORK FOR RIVERWALK DISTRICT Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 3 of 6 LOCATION & ZONING MAP All properties with the blue hatched line are currently zoned Business (B) and are within the Riverwalk Mixed Use (RMU) Overlay District Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 4 of 6 SUMMARY OF CHANGES Overall Changes The overall changes included: • Replacing the term Riverwalk Mixed Use (RMU) Overlay District with Riverwalk District (RW). • Removing references to other zone districts within standards for the RW District. Section 19-2-255 Zoning District Standards This section contains the zoning district standards for the former RMU and now RW. Changes to this code section include establishing lot size, setback, floor area, height, and open space requirements for the zone district. Most of these standards are identical to the requirements of the B District to maintain continuity with the established Fraser Standards. Changes were also made to this section to require ground floor commercial adjacent to both Highway 40 and Clayton Court. For this requirement, staff proposes a ground floor commercial requirement along the frontages of these roads, for a minimum depth of the first twenty feet of the building. Additionally, density bonuses that were a central part of the RMU were maintained in the RW district to encourage affordable housing and mixed-use development. Section 19-2-340 Schedule of Uses A number of uses that are included in the B District were not listed in the RMU Overlay District, many of which are existing uses within the boundaries of the existing RMU Overlay District. For the RW District the discrepancies between the RMU and B Districts were considered and a majority of uses that were not originally included were added as conditional uses. Below are the land uses that are not listed in the RMU Overlay and the proposed use designation in the new RW District: • Kennels – Conditional • Marijuana – Licensed • Auto Repair – Conditional • Pawnshops – Conditional • Contractors Shops and Yards – Conditional • Laboratory and Research Facilities – Conditional • Manufacturing Fabrication and Assembly Operations – Conditional • Paint and Body Shops – Conditional • Outdoor Storage – Conditional • Storage of vehicles or parts thereof from towing operations, used car lots, rental car operations – Conditional • Warehousing and Distribution – Conditional • Wholesale Trade – Conditional • Workshop and Custom Small Industry – Conditional • Public Schools – Conditional • RV Parks – Remains Prohibited Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 5 of 6 • Single Family Dwelling detached/attached/zipper – Conditional Section 19-4-190 Building Design An additional standard was added to this section to require ground floor commercial uses towards the front of buildings, rather than set back or otherwise hidden from the street. PLANNING COMMISSION REVIEW, RECOMMENDATION, DISCUSSION, AND CHANGES: On August 23, 2023 the Fraser Planning Commission unanimously approved Resolution 2023-08-02 recommending the Fraser Board of Trustees approve the code amendment to chapter 19. During the Planning Commission meeting several changes to the amendment were proposed and those, as well as other changes made to the amendment, are briefly discussed below. • Setbacks: For any use other than single family residential (attached or detached) or for mixed use, no minimum setback is established in order to provide flexibility in site planning and accommodate outdoor dining or other desirable uses. Instead, the code states that setbacks must be consistent with the intent of the district and will be determined during the site plan review. • Open Space: For any use other than residential, open space was reduced to five percent (from 15%) to maximize developable area and allow greater flexibility in site planning. Mixed-use development would also be five percent. • Intent: The intent statement was expanded to further reinforce the goals of the zone district and provide more direction when reviewing projects. • Density and river fronting architectural standards: These areas were discussed at Planning Commission; however, the regulations remain the same as what was originally proposed. The density was left at a base level of twenty dwelling units per acre to encourage developers to utilize the density bonuses in the code. Increasing the base density could make it less likely for developers to pursue affordable housing in their project because they could get to their preferred densities with just market rate products. Additionally, adding more robust language to encourage commercial activation along the river was also discussed. This section also remains as originally written. The code has some language to encourage projects to also activate the riverwalk, however adding a commercial requirement has the potential to over-saturate the area with required commercial development that might not be sustainable. BOARD OF TRUSTEES REVIEW, DISCUSSION, AND CHANGES: On September 6, 2023 the Fraser Board of Trustees held a public hearing and discussed the ordinance. Below is a summary of the proposed changes: • Intent: The intent statement for the district was reworded to add additional flexibility and clarification on where parking areas should be located. • Commercial Requirement along Clayton Court and HWY 40: Additional clarification was added that building components such as parking garage entrances and mechanical equipment can be located within the first 20’ in depth of the structure. • Density: The density bonus for affordable housing was adjusted from 60 dwelling units per acre (du/ac) at 80% Area Median Income (AMI) to 40 du/ac at 120% AMI. Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com TF-23-11 RMU Overlay District conversion to Riverwalk District Page 6 of 6 NEXT STEPS If this ordinance revision is approved, all properties within the RMU Overlay District will revert to the standard underlying B District. No properties will automatically be rezoned to the new RW District. A rezoning will be required for those properties that are currently subject to the RMU Overlay. PUBLIC NOTICE Section 19-1-190 defers to Colorado State Statutes for noticing requirements, which requires notice at least 15 days prior to a public hearing. Code amendments do not require a public hearing before the Planning Commission. Notice was provided for the September 6th Town Board public hearing as required by the state statutes on August 17th. SUMMARY The Town has prepared an ordinance with a proposed code amendment in accordance with the requirements of the Land Development Code. This proposed code amendment would replace RMU Overlay District language with RW District language, create a new standard zone district, and require ground floor commercial along certain frontages. REQUEST: Planning Commission initiated request through staff direction to amend the Land Development Code to remove the RMU Overlay district, add the RW district, and require ground floor commercial along Highway 40 and Clayton Court in the new district. RECOMMENDATION: Staff recommends that the Town Board APPROVE the proposed ordinance amending chapter 19. Attachments: 01 PC Resolution 2023-08-02 02 Draft Code Amendment 03 Proposed Ordinance FRASER PLANNING COMMISSION RESOLUTION NO. 2023-08-02 A RESOLUTION RECOMMENDING APPROVAL OF A CODE AMENDMENT TO REMOVE THE RIVERWALK MIXED USE OVERLAY DISTRICT, ADD THE RIVERWALK DISTRICT, AND REQUIRE GROUND FLOOR COMMERCIAL ALONG HIGHWAY 40 AND CLAYTON COURT IN THE NEW DISTRICT WHEREAS, the Planning Commission at their July 26, 2023 initiated the code amendment request in accordance with §19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Town has provided notice of the code amendment in accordance with 19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Fraser Planning Commission considered the amendments at a regular meeting; and WHEREAS, the amendments made were to Town of Fraser Municipal Code Chapter 19, Article 2, Division 2 — Zoning Districts, Chapter 19, Article 2, Division 3 — District Uses and Chapter 19, Article 4, Division 1 — Site Design Standards; and NOW THEREFORE BE IT RESOLVED that the Fraser Planning Commission has voted to recommend approval of the proposed rezoning to the Fraser Board of Trustees. APPROVED AND ADOPTED THIS 23rd DAY OF AUGUST, 2023. SIR PLANNING COMMMISSION Chairman ATTEST: Town Clerk Created: 2023-07-07 10:25:29 [EST] Supp. No. 16, Update 5) Page 1 of 12 TOWN OF FRASER ORDINANCE NO. XXX SERIES 2023 AN ORDIANCE AMEDING CHAPTER 19 OF THE FRASER MUNICIPAL CODE REMOVING THE RIVERWALK MIXED USE OVERLAY DISTRICT, ADDING THE RIVERWALK DISTRICT, AND REQUIRING GROUND FLOOR COMMERCIAL ALONG HIGHWAY 40 AND CLAYTON COURT IN THE NEW DISTRICT WHEREAS, the Planning Commission at their July 26, 2023 initiated the code amendment request in accordance with §19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Town has provided notice of the code amendment in accordance with 19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Fraser Planning Commission considered the amendments at a regular meeting and recommended approval of the proposed rezoning to the Fraser Board of Trustees; and NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: PART 1: AMENDMENT OF MUNICIPAL CODE Chapter 19, of the Fraser Municipal Code (herein sometimes referred to as the “Municipal Code”) are hereby amended as follows [Note: additions are shown in blue underlined print; deletions are shown as red strikethrough print]: Chapter 19 Sec. 19-2-255. Riverwalk Mixed Use Overlay District. a) Intent. The purpose of the Riverwalk Mixed Use Overlay District is to provide for development that fosters the creation of a high density, walkable, mixed-use neighborhood which will integrate Fraser's historic downtown with the Fraser River and generate opportunities for downtown redevelopment, affordable housing and economic revitalization. b) Land use. Land uses are permitted as shown in the Schedule of Uses in Section 19 -2-340. Accessory uses shall be in conformance with Section 19-2-320(a). Temporary land uses are as shown in Table 2.12 and shall be in conformance with Section 19-2-330. c) District standards. Lot and building requirements for principal structures shall be as shown in Table 2.09. TABLE 2.9 Riverwalk Mixed Use Overlay District Standards Minimum Lot Area Single-family dwellingdetached dwelling unit: Five thousand 5,000) square feet. Single-family attached dwelling unit: Twenty five hundred Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 1 of 10 Sec. 19-2-255. Riverwalk Mixed Use Overlay District. (a) Intent. The purpose of the Riverwalk Mixed Use Overlay District is to provide for development that fosters the creation of a high density, walkable, mixed-use neighborhood which will integrate Fraser's historic downtown with the Fraser River and generate opportunities for downtown redevelopment, affordable housing and economic revitalization. This zone district is envisioned to have ground floor commercial positioned closely to the street to create a vibrant Town Center. On-site parking should be located away from pedestrian areas as much as feasible in order to activate uses along the street and Fraser River and promote the walkable nature of the district. (b) Land use. Land uses are permitted as shown in the Schedule of Uses in Section 19 -2-340. Accessory uses shall be in conformance with Section 19-2-320(a). Temporary land uses are as shown in Table 2.12 and shall be in conformance with Section 19-2-330. (c) District standards. Lot and building requirements for principal structures shall be as shown in Table 2.09. TABLE 2.9 Riverwalk Mixed Use Overlay District Standards Minimum Lot Area Single-family detached dwelling unit: Five thousand (5,000) square feet. Single-family attached dwelling unit: Twenty five hundred (2,500) square feet. Commercial/Mixed Use: No minimum requirement. Multi-family dwelling unit: Twenty-one hundred seventy-eight (2,178) square feet per unit. All other uses or mixed use: No minimum requirement Minimum Front Yard See additional provision (h)(1) below. A build-to-line may be required during site plan review. Single-family attached / detached dwelling unit: Twenty (20) feet All other uses or mixed use: No minimum; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. Minimum Side Yard Single family detached dwelling unit: Five (5) feet All other uses or mixed use: No minimum requirement; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. See additional provision (h)(1) below. A zero lot line may be required during site plan review. Minimum Rear Yard Single family attached / detached dwelling unit: Ten (10) feet All other uses or mixed use: No minimum requirement; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. See additional provision (h)(1) below. Minimum Stream Setback Thirty (30) feet; a greater setback of up to one hundred fifty (150) feet may be required during site plan review. Minimum Floor Area Principal Structure: No minimum requirement. Accessory Dwelling Unit: Two hundred (200) square feet. Maximum Height Forty-five (45) feet. See height definition in Section 19-2-610 for additional details. Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 2 of 10 Minimum Required Open Space See additional provision (g) below. Single family and multi-family dwelling units: Thirty-five percent (35%), with fifteen percent (15%) conforming to Section 19-4-160 of this Chapter All other uses or mixed use: Five percent (5%) (d) Accessory structures. Building requirements for accessory structures shall be as shown for principal structures in Table 2.9, unless otherwise specified. All accessory structures shall be in conformance with the provisions of Section 19-2-320(b). (e) All site development in the Riverwalk Mixed Use Overlay District, including parking, landscaping, lighting, fencing, and building design, shall be in accordance with Article 4 of this Chapter. (f) Signs shall be permitted in the Riverwalk Mixed Use Overlay District in accordance with Article 6 of this Chapter. (g) Minimum required open space. (1) For a mixed-use residential and commercial development consisting of commercial uses occupying one hundred percent (100%) of the ground floor of all structures, mixed with residential condominiums, townhomes or apartments occupying some or all of the other floors in such structures, the minimum required open space shall be fifteen percent (15%) of the gross land area. (2) For other residential development consisting of condominiums, townhomes or apartments, the minimum required open space shall be thirty-five percent (35%) of the gross land area. Of the thirty-five percent (35%) required open space, fifteen percent (15%) shall consist of a landscaping plan consistent with the standards in Section 19-4-160 of this Chapter. (hg) Additional provisions: (1) All properties with frontage on Highway 40 (Zerex Street) or Clayton Court shall have ground floor commercial uses along the street frontages. These commercial uses shall be required for a minimum of the first twenty (20) feet in depth of the structure. Vehicular or pedestrian circulation and building mechanical equipment may be located within this twenty (20) feet. Ground floor commercial uses shall conform to the building design standards in Section 19-4-190 of this Chapter.Minimum setbacks are to be determined on a parcel-by-parcel basis utilizing emergency service access and clearance requirements and standards set forth in the Uniform Building and Fire Codes. All setback areas required or resulting from setbacks hereunder shall be credited toward the open space requirement established for this Section. (2) There shall be a maximum residential density of twenty (20) dwelling units per acre. This equates to (1) dwelling unit per two thousand one hundred seventy-eight (2,178) square feet of gross land area.Residential uses shall not exceed seventy-five percent (75%) of the gross land area in a mixed use development. (3) The maximum residential density of twenty (20) dwelling units per acre in the underlying Business Zoning District may be exceededincreased to as much as sixtyforty (40) dwelling units per acre in the Riverwalk Mixed Use Overlay District subject to the provision of deed-restricted affordable housing dwelling units listed below. a. For the purposes of this Section, affordable housing is defined as housing for a family that has an income at or below eighty one hundred twenty percent (1280%) of the Area Median Income, as determined for Grand County by the Colorado Housing and Finance Authority. b. A minimum of twenty percent (20%) of the total units within a residential development shall include a deed restriction guaranteeing the provision of the affordable housing dwelling units in Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 3 of 10 perpetuity to qualify for thea density bonus. The deed restriction shall also require employment within the geographic boundaries of the Fraser Valley Metropolitan Recreation District (as such boundaries are described in the Notice recorded July 16, 1980 at Book 278, Page 524 in the local real estate records) for an average of 30 hours per week, for 1 member of the household. c. The density bonus may be used to provide additional dwelling units in a development beyond the underlying twenty (20) dwelling units per acre allowed, up to a maximum density of sixty (60) units per acre, subject to adherence of all other development standards for the Riverwalk Mixed Use Overlay District. (4) The maximum residential density of seventeen (17) dwelling units per acre in the underlying Medium Density Single-Family Residential Zoning District, or twenty (20) dwelling units per acre in the underlying Business Zoning District, may be increased exceeded to as much as forty (40) dwelling units per acre in the Riverwalk Mixed Use Overlay District subject to the provision of non-residential retail and/or office development occupying one hundred percent (100%) of the first floor of a multi -story mixed use development. a. The density bonus may be used to provide additional dwelling units in a mixed use development beyond the underlying zoning district, up to a maximum density of forty (40) dwelling units per acre, subject to adherence of all other development standards for the Riverwalk Mixed Use Overlay District if at least eightyforty percent (40%) of the ground floor of the structure is commercial. (Ord. 452 §1(Exh. A), 2018) Sec. 19-2-340. Schedule of uses. Legend: Zoning District OS: Open Space District RD: Rural Density District LDSF: Low Density Single-Family Residential District LDMF: Low Density Multi-Family Residential District MDSF: Medium Density Single-Family Residential District MDMF: Medium Density Multi-Family Residential District HDMF: High Density Multi-Family Residential District B: Business District RWMU: Riverwalk Mixed Use Overlay District VV: Victoria Village Overlay District TI: Trade Industry District Legend: Use Type P: Permitted Use C: Conditional Use L: Licensed Use Land Use OS RD LDSF LDMF MDSF MDMF HDMF B RMU RW VV TI AGRICULTURAL USES Ranching and farming facilities P Reservoirs, dams and water diversion structures P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 4 of 10 Stables P COMMERCIAL USES Art studio P P P P Business office P P P P Business support services P P P P Commercial retail or personal service < 5,000 sq. ft. P P P P Commercial retail or personal service use between 5,000 sq. ft. and 15,000 sq. ft. P C C C Commercial retail or personal service use > 15,000 sq. ft. C C Drive-through business P C C Eating and drinking establishments P P P C Financial services institution P P C C Funeral home P C Hotels P P Laundry facilities and laundromats P P P P C Kennels P C C Marijuana business L L Medical and dental clinics P P C Microbrewery or distillery P P C P Motels P C Motor vehicle service and repair facilities P C C Pawnshops C C INDUSTRIAL USES Contractor shops and yards C C P Laboratory and research facilities C C P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 5 of 10 Manufacturing, fabrication and assembly operations C C C Paint and body shops C C P Outdoor storage C C P Storage of vehicles or parts thereof from towing operations, used car lots, rental car operations C C C Warehousing and distribution C C P Wholesale trade C C P Workshop and custom small industry C C P INSTITUTIONAL USES Child care center P P P P P P P P Church or place of worship and assembly P P P P P P P P P C Conference and convention facilities P P C Hospital P C Performing arts facilities P P C Private clubs, private dining areas and civic, cultural and fraternal organizations C P P C C Public gathering places, including government facilities, public meeting halls, auditoriums, arenas and outdoor concert venues C C C C C P P C C Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 6 of 10 Public transportation terminals P P P C School, private P P P P P C C P School, public P P P P P P C C RECREATIONAL USES Campgrounds (see Sec. 19-2-420) C Golf courses P Open space, designated P Open space and trails, other public or private P P P P P P P P P P P Parks and playgrounds P P P P P P P P P P P Recreational vehicle (RV) parks, including the dumping of waste holding tanks from recreational vehicles and buses C C RESIDENTIAL USES Accessory dwelling unit (ADU) (see Sec. 19-2-470) P C P P P P P P P Assisted living facility C C P P C C Bed and breakfast (see Sec. 19-2-440) P P P P P P P C P Boarding and rooming houses C C C P C P Group homes for handicapped or disabled persons (see Sec. 19-2-450) P P P P P P P Group homes, other C C C C C C C Live/work unit P P P C Mobile homes C Mobile home parks (see Sec. 19-2-460) C Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 7 of 10 Multi-family dwelling, except as provided below P P P P P P Multi-family dwelling up to four (4) dwelling units within a building or on a single parcel of land P Multi-family dwelling up to four (4) dwelling units within a building or on a single parcel of land; except where contiguous lots are combined to create a single parcel: up to twelve (12) units P Multi-family dwelling units within a building or on a single parcel of land; up to sixteen (16) shares/intervals P Reduced lot size, width, setback and/or floor area for a residential dwelling (see Sec. 19-2-270(d)) C C C C C C C C Single-family dwelling P P P P P C C P Single-family dwelling, attached (connected with one (1) party wall) P P P P C C P Single-family dwelling on a zipper lot C P P P C C P Timeshare or interval ownership residential facilities P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 8 of 10 UTILITIES AND TELECOMMUNICATION FACILITIES CMRS facility; building-mounted (see Sec. 19-2-480) P P P P P P P CMRS facility; freestanding (see Sec. 19-2-480) C CMRS facility; roof- mounted (see Sec. 19-2-480) P P P P CMRS facility; small cell facilities and networks (see Sec. 19-2-480) C P P P P P P P P P P Public utilities and public service facilities, excluding business offices and excluding repair and storage facilities C P P P P P P P P P P Transit facility P P P OTHER USES Adult-oriented use C Home occupations (see Sec. 19-2-430) P P P P P P P P P Mixed-use: two (2) or more uses such as multi-family residential, commercial retail, hotel or office uses in the same development area, building or group of buildings P P P Uses pursuant to easements and licenses C ( Ord. 452 §1(Exh. A), 2018) Created: 2023-07-07 10:25:31 [EST] (Supp. No. 16, Update 5) Page 9 of 10 Sec. 19-4-190. Building design; commercial and mixed use development. (a) General. It is the policy of the Town to encourage building designs and materials to be architecturally compatible with the historic, natural and mountain environment of the Town. To accomplish this goal, new development should meet a majority of the following design guidelines: (1) Building orientation. Buildings should be oriented parallel to the primary street front. A skewed building orientation should be avoided. (2) Building elements and materials. a. Building facades should incorporate a variety of materials. b. Porches with wooden posts, columns or functional awnings should be incorporated into the building design. All porches and awnings should have an eight-foot minimum clearance. c. Building materials shall be compatible and in harmony with the natural setting of the Town. The use of natural stone masonry, exposed wood structural beams, logs, heavy timbers, stucco and masonry are all acceptable materials. The use of stone or masonry as a foundation up to a height of at least thirty-six (36) inches is encouraged. d. The back of a building shall have the same overall design as the front of a building. (3) Mass. The mass of the building should be compatible to adjacent buildings. Long, uninterrupted exterior walls and/or roof lines should be avoided to break up the mass of the building. (4) Roof elements and design. Where pitched roofs are used, they shall be designed in a manner that provides variation in roof lines to break up large expanses of roof and to add architectural interest to the roof. (5) Colors. Color schemes for both the building and roof should be compatible and found in the natural landscape, such as earth-toned solids (browns, greens, greys, etc.), bedrock and woodland vegetative growth. High-contrast or bright colors, where desired, should be reserved for trim and accent. (6) Windows. Display windows on the first floor should face the primary street frontage and provide visual interest. (7) Energy conservation. Buildings should take advantage of a south-facing orientation for passive or active solar heat gain to the greatest extent possible. The implementation and operation of systems or devices which provide an effective means of renewable energy are encouraged. (b) Building height in Planned Developments. Proposed height limits may be renegotiated at the PD District plan amendment stage. Final height of buildings may be negotiated by the Planning Commission at the final PD plan stage and subject to further negotiation and/or the approval of the Board of Trustees. Height negotiations are to be carried out in relation to the following characteristics of the proposed buildings or other improvements: (1) Its geographical location; (2) The probable effect on slopes, soils and other hazardous terrain; (3) Adverse visual effect to the adjacent public and private property, rights -of-way or other areas in the immediate vicinity; (4) Potential problems for adjacent public and private sites caused by shadows, loss of air circulation or closing of view; (5) Influence on the general vicinity, with regard to contrasts, vistas and open space; Created: 2023-07-07 10:25:31 [EST] (Supp. No. 16, Update 5) Page 10 of 10 (6) The extent to which potential adverse effects are eliminated or reduced by such factors as spacing between buildings and limitation of the ground areas occupied by such buildings; (7) The extent to which building height will contribute to the environmental amenities and increased efficiency of the development by allowing for more open space, the more efficient provision of utilities and other services, and other desirable effects; (8) Its potential for improving the level of privacy in adjacent residential areas; (9) Its potential for being compatible with the scale of the surrounding natural environmental and built areas; and (10) Public safety considerations. (c) Building spacing in Planned Developments. (1) Each planned development shall provide reasonable visual and acoustical privacy for buildings. Fences, insulation, walks, barriers, landscaping and sound -reducing construction techniques shall be used as appropriate for the aesthetic enhancement of property and the privacy of its occupants, the screening of objectionable views or uses and the reduction of noise. (d) Riverwalk Mixed Use Overlay District. In addition to the provisions of Subsection (a) above, the development of any new building or structure in the Riverwalk Mixed Use Overlay District should be of such a design so as to contribute to the architectural identity of the emerging Riverwalk District. (1) Buildings should front on streets, or along the river as may be appropriate, in order to create a sense of enclosure. (2) On-site parking should be located away from pedestrian areas as much as feasible in order to activate uses along the street or Fraser River and promote the walkable nature of the district Parking should be located either behind buildings to screen vehicles from sight or so as to reduce impacts to the pedestrian environment along streets or the river. (3) Building elements and materials should ensure that design within the Riverwalk District reflects the funky/eclectic character of Fraser. (4) Ground floor commercial uses shall be adjacent to street frontages as much as practicable. ( Ord. 452 §1(Exh. A), 2018) Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 1 of 12 TOWN OF FRASER ORDINANCE NO. 501 SERIES 2023 AN ORDIANCE AMEDING CHAPTER 19 OF THE FRASER MUNICIPAL CODE REMOVING THE RIVERWALK MIXED USE OVERLAY DISTRICT, ADDING THE RIVERWALK DISTRICT, AND REQUIRING GROUND FLOOR COMMERCIAL ALONG HIGHWAY 40 AND CLAYTON COURT IN THE NEW DISTRICT WHEREAS, the Planning Commission at their July 26, 2023 initiated the code amendment request in accordance with §19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Town has provided notice of the code amendment in accordance with §19-1-190(a) of the Fraser Land Development Code; and WHEREAS, the Fraser Planning Commission considered the amendments at a regular meeting and recommended approval of the proposed rezoning to the Fraser Board of Trustees; and WHEREAS, the Town has provided notice of the code amendment in accordance with §19-1-190(a) of the Fraser Land Development Code; and NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: PART 1: AMENDMENT OF MUNICIPAL CODE Chapter 19, of the Fraser Municipal Code (herein sometimes referred to as the “Municipal Code”) are hereby amended as follows [Note: additions are shown as underlined print; deletions are shown as strikethrough print]: Chapter 19 Sec. 19-2-255. Riverwalk Mixed Use Overlay District. (a)Intent. The purpose of the Riverwalk Mixed Use Overlay District is to provide for development that fosters the creation of a high density, walkable, mixed-use neighborhood which will integrate Fraser's historic downtown with the Fraser River and generate opportunities for downtown redevelopment, affordable housing and economic revitalization. This zone district is envisioned to have ground floor commercial positioned closely to the street to create a vibrant Town Center. On-site parking should be located away from pedestrian areas as much as feasible in order to activate uses along the street and Fraser River and promote the walkable nature of the district. (b)Land use. Land uses are permitted as shown in the Schedule of Uses in Section 19 -2-340. Accessory uses shall be in conformance with Section 19-2-320(a). Temporary land uses are as shown in Table 2.12 and shall be in conformance with Section 19-2-330. (c)District standards. Lot and building requirements for principal structures shall be as shown in Table 2.09. TABLE 2.9 Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 2 of 12 Riverwalk Mixed Use Overlay District Standards Minimum Lot Area Single-family detached dwelling unit: Five thousand (5,000) square feet. Single-family attached dwelling unit: Twenty five hundred (2,500) square feet. Commercial/Mixed Use: No minimum requirement. Multi-family dwelling unit: Twenty-one hundred seventy-eight (2,178) square feet per unit. All other uses or mixed use: No minimum requirement Minimum Front Yard See additional provision (h)(1) below. A build-to-line may be required during site plan review. Single-family attached / detached dwelling unit: Twenty (20) feet All other uses or mixed use: No minimum; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. Minimum Side Yard Single family detached dwelling unit: Five (5) feet All other uses or mixed use: No minimum requirement; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. See additional provision (h)(1) below. A zero lot line may be required during site plan review. Minimum Rear Yard Single family attached / detached dwelling unit: Ten (10) feet All other uses or mixed use: No minimum requirement; setback shall be consistent with the intent of the zone district, and will be determined during site plan review. See additional provision (h)(1) below. Minimum Stream Setback Thirty (30) feet; a greater setback of up to one hundred fifty (150) feet may be required during site plan review. Minimum Floor Area Principal Structure: No minimum requirement. Accessory Dwelling Unit: Two hundred (200) square feet. Maximum Height Forty-five (45) feet. See height definition in Section 19-2-610 for additional details. Minimum Required Open Space See additional provision (g) below. Single family and multi- family dwelling units: Thirty-five percent (35%), with fifteen percent (15%) conforming to Section 19-4-160 of this Chapter All other uses or mixed use: Five percent (5%) (d) Accessory structures. Building requirements for accessory structures shall be as shown for principal structures in Table 2.9, unless otherwise specified. All accessory structures shall be in conformance with the provisions of Section 19-2-320(b). Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 3 of 12 (e) All site development in the Riverwalk Mixed Use Overlay District, including parking, landscaping, lighting, fencing, and building design, shall be in accordance with Article 4 of this Chapter. (f) Signs shall be permitted in the Riverwalk Mixed Use Overlay District in accordance with Article 6 of this Chapter. (g) Minimum required open space. (1) For a mixed-use residential and commercial development consisting of commercial uses occupying one hundred percent (100%) of the ground floor of all structures, mixed with residential condominiums, townhomes or apartments occupying some or all of the other floors in such structures, the minimum required open space shall be fifteen percent (15%) of the gross land area. (2) For other residential development consisting of condominiums, townhomes or apartments, the minimum required open space shall be thirty-five percent (35%) of the gross land area. Of the thirty-five percent (35%) required open space, fifteen percent (15%) shall consist of a landscaping plan consistent with the standards in Section 19-4-160 of this Chapter. (hg) Additional provisions: (1) All properties with frontage on Highway 40 (Zerex Street) or Clayton Court shall have ground floor commercial uses along the street frontages. These commercial uses shall be required for a minimum of the first twenty (20) feet in depth of the structure. Vehicular or pedestrian circulation and building mechanical equipment may be located within this twenty (20) feet. Ground floor commercial uses shall conform to the building design standards in Section 19-4-190 of this Chapter.Minimum setbacks are to be determined on a parcel-by-parcel basis utilizing emergency service access and clearance requirements and standards set forth in the Uniform Building and Fire Codes. All setback areas required or resulting from setbacks hereunder shall be credited toward the open space requirement established for this Section. (2) There shall be a maximum residential density of twenty (20) dwelling units per acre. This equates to (1) dwelling unit per two thousand one hundred seventy-eight (2,178) square feet of gross land area.Residential uses shall not exceed seventy-five percent (75%) of the gross land area in a mixed use development. (3) The maximum residential density of twenty (20) dwelling units per acre in the underlying Business Zoning District may be exceededincreased to as much as sixtyforty (40) dwelling units per acre in the Riverwalk Mixed Use Overlay District subject to the provision of deed-restricted affordable housing dwelling units listed below. a. For the purposes of this Section, affordable housing is defined as housing for a family that has an income at or below eighty one hundred twenty percent (1280%) of the Area Median Income, as determined for Grand County by the Colorado Housing and Finance Authority. b. A minimum of twenty percent (20%) of the total units within a residential development shall include a deed restriction guaranteeing the provision of the affordable housing dwelling units in perpetuity to qualify for thea density bonus. The deed restriction shall also require employment within the geographic boundaries of the Fraser Valley Metropolitan Recreation District (as such boundaries are described in the Notice recorded July 16, 1980 at Book 278, Page 524 in the local real estate records) for an average of 30 hours per week, for 1 member of the household. c. The density bonus may be used to provide additional dwelling units in a development beyond the underlying twenty (20) dwelling units per acre allowed, up to a maximum density of sixty (60) units per acre, subject to adherence of all other development standards for the Riverwalk Mixed Use Overlay District. Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 4 of 12 (4) The maximum residential density of seventeen (17) dwelling units per acre in the underlying Medium Density Single-Family Residential Zoning District, or twenty (20) dwelling units per acre in the underlying Business Zoning District, may be increased exceeded to as much as forty (40) dwelling units per acre in the Riverwalk Mixed Use Overlay District subject to the provision of non-residential retail and/or office development occupying one hundred percent (100%) of the first floor of a multi -story mixed use development. a. The density bonus may be used to provide additional dwelling units in a mixed use development beyond the underlying zoning district, up to a maximum density of forty (40) dwelling units per acre, subject to adherence of all other development standards for the Riverwalk Mixed Use Overlay District if at least eightyforty percent (40%) of the ground floor of the structure is commercial. (Ord. 452 §1(Exh. A), 2018) Sec. 19-2-340. Schedule of uses. Legend: Zoning District OS: Open Space District RD: Rural Density District LDSF: Low Density Single-Family Residential District LDMF: Low Density Multi-Family Residential District MDSF: Medium Density Single-Family Residential District MDMF: Medium Density Multi-Family Residential District HDMF: High Density Multi-Family Residential District B: Business District RWMU: Riverwalk Mixed Use Overlay District VV: Victoria Village Overlay District TI: Trade Industry District Legend: Use Type P: Permitted Use C: Conditional Use L: Licensed Use Land Use OS RD LDSF LDMF MDSF MDMF HDMF B RMU RW VV TI AGRICULTURAL USES Ranching and farming facilities P Reservoirs, dams and water diversion structures P Stables P COMMERCIAL USES Art studio P P P P Business office P P P P Business support services P P P P Commercial retail or personal service P P P P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 5 of 12 < 5,000 sq. ft. Commercial retail or personal service use between 5,000 sq. ft. and 15,000 sq. ft. P C C C Commercial retail or personal service use > 15,000 sq. ft. C C Drive-through business P C C Eating and drinking establishments P P P C Financial services institution P P C C Funeral home P C Hotels P P Laundry facilities and laundromats P P P P C Kennels P C C Marijuana business L L Medical and dental clinics P P C Microbrewery or distillery P P C P Motels P C Motor vehicle service and repair facilities P C C Pawnshops C C INDUSTRIAL USES Contractor shops and yards C C P Laboratory and research facilities C C P Manufacturing, fabrication and assembly operations C C C Paint and body shops C C P Outdoor storage C C P Storage of vehicles C C C Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 6 of 12 or parts thereof from towing operations, used car lots, rental car operations Warehousing and distribution C C P Wholesale trade C C P Workshop and custom small industry C C P INSTITUTIONAL USES Child care center P P P P P P P P Church or place of worship and assembly P P P P P P P P P C Conference and convention facilities P P C Hospital P C Performing arts facilities P P C Private clubs, private dining areas and civic, cultural and fraternal organizations C P P C C Public gathering places, including government facilities, public meeting halls, auditoriums, arenas and outdoor concert venues C C C C C P P C C Public transportation terminals P P P C School, private P P P P P C C P School, public P P P P P P C C RECREATIONAL USES Campgrounds (see Sec. 19-2-420) C Golf courses P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 7 of 12 Open space, designated P Open space and trails, other public or private P P P P P P P P P P P Parks and playgrounds P P P P P P P P P P P Recreational vehicle (RV) parks, including the dumping of waste holding tanks from recreational vehicles and buses C C RESIDENTIAL USES Accessory dwelling unit (ADU) (see Sec. 19-2-470) P C P P P P P P P Assisted living facility C C P P C C Bed and breakfast (see Sec. 19-2-440) P P P P P P P C P Boarding and rooming houses C C C P C P Group homes for handicapped or disabled persons (see Sec. 19-2-450) P P P P P P P Group homes, other C C C C C C C Live/work unit P P P C Mobile homes C Mobile home parks (see Sec. 19-2-460) C Multi-family dwelling, except as provided below P P P P P P Multi-family dwelling up to four (4) dwelling units within a building or on a single parcel of land P Multi-family P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 8 of 12 dwelling up to four (4) dwelling units within a building or on a single parcel of land; except where contiguous lots are combined to create a single parcel: up to twelve (12) units Multi-family dwelling units within a building or on a single parcel of land; up to sixteen (16) shares/intervals P Reduced lot size, width, setback and/or floor area for a residential dwelling (see Sec. 19-2-270(d)) C C C C C C C C Single-family dwelling P P P P P C C P Single-family dwelling, attached (connected with one (1) party wall) P P P P C C P Single-family dwelling on a zipper lot C P P P C C P Timeshare or interval ownership residential facilities P UTILITIES AND TELECOMMUNICATION FACILITIES CMRS facility; building-mounted (see Sec. 19-2-480) P P P P P P P CMRS facility; freestanding (see Sec. 19-2-480) C CMRS facility; roof- mounted (see Sec. 19-2-480) P P P P CMRS facility; small C P P P P P P P P P P Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 9 of 12 cell facilities and networks (see Sec. 19-2-480) Public utilities and public service facilities, excluding business offices and excluding repair and storage facilities C P P P P P P P P P P Transit facility P P P OTHER USES Adult-oriented use C Home occupations (see Sec. 19-2-430) P P P P P P P P P Mixed-use: two (2) or more uses such as multi-family residential, commercial retail, hotel or office uses in the same development area, building or group of buildings P P P Uses pursuant to easements and licenses C ( Ord. 452 §1(Exh. A), 2018) Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 10 of 12 Sec. 19-4-190. Building design; commercial and mixed use development. (a) General. It is the policy of the Town to encourage building designs and materials to be architecturally compatible with the historic, natural and mountain environment of the Town. To accomplish this goal, new development should meet a majority of the following design guidelines: (1) Building orientation. Buildings should be oriented parallel to the primary street front. A skewed building orientation should be avoided. (2) Building elements and materials. a. Building facades should incorporate a variety of materials. b. Porches with wooden posts, columns or functional awnings should be incorporated into the building design. All porches and awnings should have an eight-foot minimum clearance. c. Building materials shall be compatible and in harmony with the natural setting of the Town. The use of natural stone masonry, exposed wood structural beams, logs, heavy timbers, stucco and masonry are all acceptable materials. The use of stone or masonry as a foundation up to a height of at least thirty-six (36) inches is encouraged. d. The back of a building shall have the same overall design as the front of a building. (3) Mass. The mass of the building should be compatible to adjacent buildings. Long, uninterrupted exterior walls and/or roof lines should be avoided to break up the mass of the building. (4) Roof elements and design. Where pitched roofs are used, they shall be designed in a manner that provides variation in roof lines to break up large expanses of roof and to add architectural interest to the roof. (5) Colors. Color schemes for both the building and roof should be compatible and found in the natural landscape, such as earth-toned solids (browns, greens, greys, etc.), bedrock and woodland vegetative growth. High-contrast or bright colors, where desired, should be reserved for trim and accent. (6) Windows. Display windows on the first floor should face the primary street frontage and provide visual interest. (7) Energy conservation. Buildings should take advantage of a south-facing orientation for passive or active solar heat gain to the greatest extent possible. The implementation and operation of systems or devices which provide an effective means of renewable energy are encouraged. (b) Building height in Planned Developments. Proposed height limits may be renegotiated at the PD District plan amendment stage. Final height of buildings may be negotiated by the Planning Commission at the final PD plan stage and subject to further negotiation and/or the approval of the Board of Trustees. Height negotiations are to be carried out in relation to the following characteristics of the proposed buildings or other improvements: (1) Its geographical location; (2) The probable effect on slopes, soils and other hazardous terrain; (3) Adverse visual effect to the adjacent public and private property, rights -of-way or other areas in the immediate vicinity; (4) Potential problems for adjacent public and private sites caused by shadows, loss of air circulation or closing of view; (5) Influence on the general vicinity, with regard to contrasts, vistas and open space; Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 11 of 12 (6) The extent to which potential adverse effects are eliminated or reduced by such factors as spacing between buildings and limitation of the ground areas occupied by such buildings; (7) The extent to which building height will contribute to the environmental amenities and increased efficiency of the development by allowing for more open space, the more efficient provision of utilities and other services, and other desirable effects; (8) Its potential for improving the level of privacy in adjacent residential areas; (9) Its potential for being compatible with the scale of the surrounding natural environmental and built areas; and (10) Public safety considerations. (c) Building spacing in Planned Developments. (1) Each planned development shall provide reasonable visual and acoustical privacy for buildings. Fences, insulation, walks, barriers, landscaping and sound -reducing construction techniques shall be used as appropriate for the aesthetic enhancement of property and the privacy of its occupants, the screening of objectionable views or uses and the reduction of noise. (d) Riverwalk Mixed Use Overlay District. In addition to the provisions of Subsection (a) above, the development of any new building or structure in the Riverwalk Mixed Use Overlay District should be of such a design so as to contribute to the architectural identity of the emerging Riverwalk District. (1) Buildings should front on streets, or along the river as may be appropriate, in order to create a sense of enclosure. (2) On-site parking should be located away from pedestrian areas as much as feasible in order to activate uses along the street or Fraser River and promote the walkable nature of the district Parking should be located either behind buildings to screen vehicles from sight or so as to reduce impacts to the pedestrian environment along streets or the river. (3) Building elements and materials should ensure that design within the Riverwalk District reflects the funky/eclectic character of Fraser. (4) Ground floor commercial uses shall be adjacent to street frontages as much as practicable. ( Ord. 452 §1(Exh. A), 2018) PART 2: EFFECT ON PROPERTIES IN THE RMU OVERLAY DISTRICT The full implementation of this ordinance requires a zoning map amendment to remove the RMU overlay district and rezone properties to the new RW standard zone district. Until such time that a zoning map amendment is approved, all properties that are currently subject to the RMU overlay district shall continue to be regulated by the land development code as it existed prior to this ordinance. PART 3: REPEAL Any and all existing ordinances or parts of ordinances of the Town of Fraser covering the same matters as embraced in this Ordinance are hereby repealed and all ordinances or parts of ordinances inconsistent with the provisions of this ordinance are hereby repealed; provided, however, that such repeal shall not affect or prevent the prosecution or punishment of any person for any act done or committed in violation of any ordinance hereby repealed prior to the taking effect of this ordinance. PART 4: SEVERABILITY Created: 2023-07-07 10:25:29 [EST] (Supp. No. 16, Update 5) Page 12 of 12 If any section, subsection, sentence, clause or phrase of this Ordinance is, for any reason, held to be invalid or unconstitutional, such decision shall not affect the validity or constitutionality of the remaining portions of this Ordinance. The Town of Fraser hereby declares that it would have adopted this Ordinance, and each section, subsection, clause or phrase thereof, irrespective of the fact that any one or more sections, subsections, sentences or clauses and phrases thereof be declared invalid or unconstitutional. PART 5: EFFECTIVE DATE This Ordinance shall take effect thirty (30) days after passage, adoption and publication as provided by law. PART 6: PUBLICATION This Ordinance shall be published by title only. READ, PASSED, ADOPTED AND ORDERED PUBLISHED BY THE BOARD OF TRUSTEES AND SIGNED THIS 6th DAY OF SEPTEMBER, 2023 Votes in favor: ____ BOARD OF TRUSTEES OF THE Votes opposed: ____ TOWN OF FRASER, COLORADO Votes abstained: ____ BY: ____________________________________ Philip Vandernail, Mayor ( S E A L ) ATTEST: ____________________________________ Antoinette McVeigh, Town Clerk Published in the Middle Park Times on . Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com MEMO TO: Mayor Vandernail and the Board of Trustees FROM: Sarah Catanzarite, Assistant Town Manager DATE: September 20, 2023 SUBJECT: Parking Study Scope MATTER BEFORE BOARD: Review and advise scope for joint parking study for Town of Fraser and Town of Winter Park to be included prior to the Towns publishing a Request for Proposals (RFP) for said parking study. BACKGROUND: Prior discussions and direction from the Economic Development Advisory Committee and the Town Board have indicated the need to further evaluate parking challenges and solutions. As the Town of Winter Park is likewise pursuing a parking study at this time, the opportunity has presented to seek a joint parking study that can evaluate a regional parking approach. REQUEST FOR PROPOSALS SCOPE: The Towns of Winter Park and Fraser, Colorado are seeking a combined parking study that will evaluate current and future parking needs and make recommendations based on a regional overview, as well as the individual context and needs of each community. The parking study and associated recommendations should incorporate current and emerging best practices, including Transportation Demand Management (TDM) and smart parking strategies that balance the benefits and opportunity costs of allocating resources for parking, while offering creative solutions that maximize the efficiency of available and future parking options alongside encouraging multi-modal transportation that will reduce parking demands. I. Vision, Engagement & Coordination: Parking Study design and implementation should reflect the vision of the Winter Park and Fraser Town Boards and the Winter Park-Fraser Valley Sustainable Community Plan and consider the unique context and needs of the Fraser River Valley holistically as well as for each individual community. a. Direction and coordination will be provided through meetings with Fraser and Winter Park Town staff, the Town Boards and Planning Commissions. b. Facilitated community engagement with identified stakeholders including the Chamber of Commerce, Economic Development Advisory Committees, Sustainable Community Group, Headwaters Trail Alliance, Fraser Valley Rec District, and the public. c. Engagement with the public may include a public meeting and/ or a survey to be distributed electronically. d. Incorporate town and regional studies and planning documents: 2017 Downtown Fraser Strategic Plan, Fraser River Corridor Master Plan, Sustainable Community Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com Plan, 2019 Imagine Winter Park Town Plan, 2020 Winter Park Downtown Master Plan, Winter Park Resort Parking Study and Development Plans, Winter Park LIFT transit study. e. Ongoing check-ins and coordination meetings with identified Town staff. II. Existing Parking Conditions Assessment: Develop a parking study that is data driven and community informed, that assesses current conditions through data collection of existing parking inventory, demand, and usage to identify gaps, needs and key parking challenges. a. Inventory and collect public and private (non-residential) parking supply information within and near defined commercial corridors and other high use areas such as parks and trailheads within town limits. b. Collect on-and-off street parking samples during a typical weekday and weekend (both day and evening), including during both busy winter and summer peak periods, to include occupancy rates, length of stay and turnover data. III. Creative Solutions for Parking Management: Evaluate and provide recommendations for creative strategies, parking management tools, and no build solutions to improve public awareness around parking options and to develop an effective and innovative parking management plan that makes efficient use of parking supply. Evaluate and make recommendations around: a. On-street parking design b. Signage, wayfinding, and other approaches to increasing awareness around parking and multimodal transportation options c. Rationing- time limits/ parking fees/ enforcement i. Examine the use of time limits and/ or paid parking to ensure efficient and effective utilization of limited spaces in high demand areas such as along Main Street/ HWY 40, include suggested time limits and rates for identified locations including possibilities for price variation based on peak times/ parking demand ii. Explore technologies for parking kiosks, mobile payment, and pay by plate, with opportunities to consider discounts or exemptions for locals and/ or price variations for peak times/ dependent upon demand/ parking availability d. Creation of one-way streets with diagonal parking e. Shared private or semi-public parking options amongst businesses with guidance for implementation f. Park-once-and-walk districts g. Decreasing parking demand through the promotion and enhancement of multi- modal transportation options IV. Future Parking Needs & Infrastructure Analysis: Project parking needs for future proposed development and growth and provide policies and recommendations for meeting that demand, including key infrastructure needs and cost estimates. a. Develop a model based on present transportation preferences and behaviors to project parking needs into the future. Models should consider interventions such as improved parking management and multimodal infrastructure enhancements. b. Future parking needs in Winter Park would consider ongoing skier parking challenges and proposed development including an aerial transit system to the Winter Park Ski Resort from downtown. Town of Fraser PO Box 370, Fraser, CO 80442 office 970-726-5491 fax 970-726-5518 www.frasercolorado.com c. Future parking needs in Fraser would consider the proposed development of a Main Street Riverwalk District, the Fraser Center for Creative Arts, and other downtown development/ revitalization efforts. d. Evaluate need and viability of multi-level parking structure(s), cite suitable locations, proposed square footage needs, number of spaces, basic design concepts, and estimated cost. e. Regionally, consideration of park n rides or other options, as warranted by demand, including proposed locations, size, and coordination with LIFT Transit and/ or shuttle services for selected high-volume events/ peak times. V. Policy Evaluation and Recommendations: Review Towns’ municipal codes, ordinances, and policies to recommend updates to support commercial and residential development while protecting the needs of the community. Recommendations should consider industry best practices, emerging creative solutions to parking and multimodal transportation, and community vision, including the desire for thriving, walkable, pedestrian friendly downtowns. a. Explore zoning code updates to support smart parking strategies such as evaluating current parking minimums (possible reduced or eliminated minimums for relevant zones), maximum parking requirements, flexibility in providing parking off-site and incentives for shared parking. b. Recommend options for financing of public or shared parking and ongoing maintenance costs such as parking fee-in-lieu programs, granting of land easements by businesses to be used for public or shared parking, ongoing maintenance fees, and shared parking districts and management. VI. Associated Costs and Capital Planning: Identify associated capital, operations, and maintenance costs for policy and infrastructure recommendations, along with suggested funding and revenue sources. VII. Presentation of Findings and Recommendations: A data-driven, community-informed, implementation-based report that encompasses parking study results and best practice recommendations tailored to the unique context and needs of the Winter Park and Fraser communities. The report should provide holistic considerations for the Fraser River Valley region, data breakdown and recommendations for each community, and suggestions for where uniformity between the two communities would be recommended. A presentation of findings and working session should be held with the Town Boards prior to final report completion. TIMELINE RFP Released Late September 2023 Interested Companies Meeting Early October 2023 RFP Response Deadline Late October 2023 RFP Interviews November 2023 Contract Negotiations and Award Early December 2023 Parking Study Winter 2024-Summer 2024* Study Conclusion Summer 2024 *The study would ideally evaluate parking needs during busy and less busy time periods to include winter and summer seasons. Treasurer’s Report LAURIE WATERS FINANCE DIRECTOR Overview Statement of Funds Sales Tax Revenue 2022-2023 GF Reserves & Operations Positions $23,000,000 $22,000,000 $21,000,000 $20,000,000 $19,000,000 $18,OUu,uu.. $17,000,000 G reti •z, �re�ti �reti t', '0" i ai�ti o t' 5e�N¢. O` aoJe Oe�e ,a �e*o 7 ■ rti ■ GF Reserves ■ GF Ops 1 w. do r Qwe 5e • Sales Tax Revenue by Month 2018 -2023 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 4a\ � �a6 gat acsr a der` P P�� tied & .fiv �e' c ei \-\o Qe 2023 2022 2021 2020 2019 2018 Review and Looking Forward Expect accounts to decline in September – October due to capital project progress and completion. 92% of Budgeted Sales Tax Revenue at 67% of the year. Tax revenue still slightly above 2022 actuals. 2024 CEBT  Town of Fraser Rates Plans Total Monthly  Premium Office Co‐Pay   (primary/specialist) Hospital  Co‐Pay Deductible  (Single) Deductible  Family Out of Pocket   (Single) Out of Pocket  (Family) Medical ‐PPO2 $30/$30 N/A $500 $1,000 (IN) $2000             (OUT) $4000 (IN) $4000               (Out) $8000 Employee $1,163.00 Employee + Spouse $2,326.00 Employee+ Child(ren) $2,155.00 Employee+ Family   $2,795.00 Medical ‐ EPO3 $40/$55 $1,000 N/A N/A $5,000 $10,000  Employee $1,011.00 Employee + Spouse $2,058.00 Employee+ Child(ren) $2,003.00 Employee+ Family  $2,574.00 Medical ‐ HD3500 N/A N/A $3,500 $7,000 (IN) $5,000       (Out)  $10,000 (IN) $10,000     (OUT) $20,000  Employee $732.00 Employee + Spouse $1,494.00 Employee+ Child(ren) $1,380.00 Employee+ Family $1,794.00 Dental ‐ Plan A $2,000 annual benefit maximum/ $2,000 Ortho lifetime maximum (includes adult ortho) Employee $38.00 Employee + Spouse  $78.00 Employee+ Child(ren)$97.00 Employee+ Family $131.00 Vision ‐ Plan C (VSP) 12/12/12, $175 frames, $10 copay at VSP providers Employee $7.00 Employee + Spouse $15.00 Employee+ Child(ren) $14.00 Employee+ Family $26.00 June 17, 2022 CEBT MEDICAL BENEFITS COMPARISON TOWN OF FRASER MEDICAL BASE PLAN PPO2 EPO3 HD3500 Office Visit (Primary|Specialty)$30 Copay | $30 Copay $40 Copay | $55 Copay Deductible + 20% to OOP Max Deductible (Single|Family)$600 | $1,200 Copay where indicated $3,500 *Embedded | $7,000 *Embedded Coinsurance (In|Out)20% In | 40% Out N/A 20% In | 40% Out Out of Pocket Single (In|Out)$3,500 | $7,000 $5,000 $6,000 | $12,000 Out of Pocket Family (In|Out)$7,000 | $14,000 $10,000 $12,000 | $24,000 Inpatient Hospital Deductible + 20% to OOP Max $1,000 Copay Deductible + 20% to OOP Max Outpatient Hospital Deductible + 20% to OOP Max $750 Copay | Amb Surg Center $250 Copay Deductible + 20% to OOP Max Rx Retail Generic $20 | Preferred $40 | Non-Preferred $60 Generic $20 | Preferred $40 | Non-Preferred $60 Deductible then: Generic $20 | Preferred $40 | Non-Preferred $60 Rx Mail Order 2 X Copay 2 X Copay 2 X Copay Preventative Visit Covered 100%Covered 100%Covered 100% Chiropractic $30 Copay | 20 Visits per year $40 Copay | 20 Visits per year Deductible + 20% to OOP Max | 20 Visits per year Teladoc Covered 100%Covered 100%$45 Copay Telehealth $30 Copay Applicable copay applies Deductible + 20% to OOP Max Advanced Imaging Deductible + 20% to OOP Max $500 Copay | Freestanding facilities $200 copay Deductible + 20% to OOP Max X-ray $30 Copay office setting | Outpatient setting Deductible + 20% to OOP Max $50 Copay Deductible + 20% to OOP Max Lab $30 Copay $40 Copay Deductible + 20% to OOP Max Urgent Care $75 Copay $75 Copay Deductible + 20% to OOP Max Emergency Care Deductible + 20% to OOP Max $250 Copay Deductible + 20% to OOP Max This comparison of coverages is intended only as a general description for the principle in network features of the benefit plans. Please refer to the plan document that is posted on the www.cebt.org website for details. June 17, 2022 Preventative Services – will be processed following the Federal Patient Protection and Affordable Care Act. For more information on these services go to https://cebt.org/resources/benefit-booklets. *Embedded - Under this deductible definition, any single member of a family doesn't have to meet the full family deductible for the after-deductible benefits to kick in. Once they meet the individual deductible, plan benefits will start to pay. *Non-Embedded - Also referred to as an aggregate deductible. Under this arrangement, the total family deductible must be paid out-of-pocket before health insurance starts paying for the health care services incurred by any family member. Usually applies in High Deductible Health plan. The individual deductible doesn’t apply if there are multiple people covered by the plan (Employee +1, Employee + Spouse, Family Coverage, etc.) PPO Note: Combination of PPO and Non PPO out of pocket limit will never exceed the Non PPO out of pocket limit. Family Deductible: Combines individual and family deductible. When a family member has a healthcare expense, the money paid toward the individual deductible is also credited toward the family deductible. Ex- An individual satisfies a $3,500 individual deductible which is then credited toward the $7,000 family deductible and leaves a balance of $3,500 to be satisfied by another family member or members. EPO NOTE: The member must use a contracted provider for all care. Out of network providers are only covered if the charges are for emergency treatment. If this is not done, there is no guarantee that the charges will be covered. MEMO TO:Mayor Vandernail and the Board of Trustees FROM:Antoinette McVeigh, Town Clerk DATE:September 20, 2023 SUBJECT:Town of Fraser Fund MATTER BEFORE BOARD: Town of Fraser Fund Agreement, criteria, and guidelines. ACTION REQUESTED: Approve the Town of Fraser Fund A Donor Advised Fund of the Grand Foundation Agreement and create the deadline and criteria. BACKGROUND: At the Board of Trustees meeting on September 6, 2023 the Town of Fraser Fund A Donor Advised Fund of the Grand Foundation was presented to the Board. The Board decided to move forward to have the Grand Foundation administer the Town of Fraser Fund. The deadline, criteria and guidelines have to be established. Application deadline The board discussed a rolling application deadline. I recommend considering the following criteria. Set an annual grant application deadline for November 3. This creates a fairness for all non- profits to apply for the same allocated dollars. Once the grant dollars are annually budgeted, the board can dedicate specific dollars to a specific non-profit(s). These non-profits would still have to apply for the grant but would be “guaranteed” those specific dollars. Any amount not allocated to a specific non-profit(s) would be the remaining dollars available to all other eligible requesters. The Board can choose to set aside a specific dollar amount that can be available after the November 3 deadline for additional grant request(s). There should be specific guidelines for any applications outside of the November 3 deadline. Things to consider: Why didn’t the applicant meet the November 3 deadline? Are applicants eligible for more than one grant? Is this a new project/event/emergency? Has the applicant applied in previous years? Other guidelines? What are the organization guidelines and criteria Things to consider: Winter Park: organizations that enhance the quality of life in Grand County, groups that provide programs or services in the areas of arts and culture, health and human services, environment, education and amateur sports. Board of County Commissioners: organizations that enhance the quality of life in Grand County. This includes groups that provide programs or services in the areas health and human services, environment and education. Grand Lake: organizations that benefit the Grand Lake Community through projects and Programs. organizations that enhance the quality of life in Grand County. This includes groups that provide programs or services in the areas of arts and culture, health and human services, environment, education and amateur sports. Does the non-profit need to be located in Fraser, Fraser Valley, Fraser Valley Metropolitan Recreation District, Grand County? Other criteria? ALTERNATIVES: Do not approve the Town of Fraser Fund A Donor Advised Fund of the Grand Foundation and continue to allow organizations to request funding through out the year. RECOMMENDATION: The Town should mirror the guidelines of Winter Park, set a deadline for the applications and consider setting aside dollars for requests that are made after the November 3 deadline. Approve Resolution 2023-09-08 the Town of Fraser Fund A Donor Advised Fund of the Grand Foundation Agreement. TOWN OF FRASER RESOLUTION NO. 2023-09-08 A RESOLUTION AUTHORIZING EXECUTION OF TOWN OF FRASER FUND A DONOR ADVISED FUND OF THE GRAND FOUNDATION AGREEMENT BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FRASER, COLORADO THAT: 1.The Mayor is hereby authorized to execute the attached Town of Fraser Fund A Donor Advised Fund of the Grand Foundation Agreement. DULY MOVED, SECONDED AND ADOPTED THIS ____ DAY OF ____, 2023. Votes in favor: ___BOARD TRUSTEES OF THE Votes opposed: ___TOWN OF FRASER, COLORADO Abstained: ___ BY: Mayor ATTEST: (S E A L) Town Clerk 1/1/2024 1 #1032637 v1 AGREEMENT ESTABLISHING THE TOWN OF FRASER FUND A DONOR ADVISED FUND OF THE GRAND FOUNDATION THIS AGREEMENT is commencing the 20th day of September 2023 between Town of Fraser (“Grantor”) and the GRAND FOUNDATION, a Colorado nonprofit corporation (the “Foundation”). Grantor hereby transfers to the Foundation property consisting of $XX,XXX.XX as an irrevocable gift to the Foundation to be held as a separate fund (the “Fund”) and to be administered and distributed in accordance with the following terms and conditions. The Foundation hereby accepts this gift and agrees to the terms and conditions of this Agreement.The services provided by the Grand Foundation cover grant posting through final report collection. 1.Name of Fund. The Fund shall be established on the books of the Foundation as an advised fund and shall be known as The Town of Fraser Fund. 2.Property Constituting Fund. The Fund shall include the property transferred hereafter by the Grantor in January 2024 to the Foundation, such additional property as may from time to time be transferred to the Foundation by Grantor for inclusion in the Fund, such property as may from time to time be received by the Foundation from any other source and accepted by the Foundation for inclusion in the Fund; together all income and gains received with respect to any of the foregoing property. The Fund shall be the property of the Foundation and shall not be deemed a trust fund held by it in any trustee capacity. 3.Use of Fund Assets. (a)Distributions. All or part of the principal and/or income of the Fund shall be used or distributed for such purposes as the Board of Directors of the Foundation shall determine from time to time, after taking into consideration any recommendations made in writing to the Foundation by the Advisory Committee (described below) and in accordance with the Foundation’s guidelines for advised funds. (b)General Restrictions. Notwithstanding anything herein to the contrary, the Fund shall at all times be held and administered in accordance with the provisions of the 1/1/2024 2 #1032637 v1 Foundation’s Articles of Incorporation, Bylaws and Procedures for Operation of Advised Funds as they now exist or may be hereafter amended (the “Governing Instruments”), and the provisions of the federal income tax regulations in Treas. Reg. § 1.170A-9(e)(10) through (14) that apply to the Foundation as a “community trust,” all of which are hereby accepted and agreed to by Grantor, including those provisions relating to the amendment or termination of designations of specific organizations, restrictions with respect to the use of principal or income, and other directions or advice from donors. Grantor acknowledges that under the provisions of the Governing Instruments and applicable tax regulations, the Board of Directors of the Foundation shall have the power to modify or eliminate any designation, restriction or condition on the distribution of funds for any specified charitable purposes or designated organization if in its sole judgment (without the necessity or the approval of any participating trustee, custodian or agent) such designation, restriction or condition becomes, in effect, unnecessary, undesirable, impractical, incapable of fulfillment or inconsistent with the charitable needs of the Foundation. 4.Advisory Committee. (a)Committee Members. The Town Manager, and Two (2) Town Trustees and other such persons as Grantor shall appoint from time to time shall comprise the “Advisory Committee” for purposes of this Agreement. Members of the Advisory Committee may be removed and replaced at any time by Grantor upon written notification to the Foundation. (b)Role of Committee. The Advisory Committee shall submit annually to the Board of Directors of the Foundation written recommendations with respect to distributions of the Fund consistent with paragraph 3(a) above. (c)Procedures. The Advisory Committee shall conduct its activities in accordance with such rules and procedures as the Committee itself may establish. The Foundation may rely on any writing signed by the chair of the Advisory Committee that purports to set forth the recommendations of the Advisory Committee. All expenses and liabilities incurred by the Advisory Committee in connection with its activities and affairs shall be the sole responsibility of Grantor or of the members of the Advisory Committee. (d)Term. The Advisory Committee under this Agreement shall be renewed by July 1st each year. If the Town of Fraser decides to terminate the Agreement, written notice must be sent before July 1st. Following the termination of the role of the Advisory Committee, all assets remaining, on December 31st of that year, in the Fund shall be transferred to the Foundation’s unrestricted endowment funds. 5.Reports. The Foundation shall render reports at least semi-annually to Grantor or Grantor’s designee showing the assets then held as the principal of the Fund and all receipts, disbursements and distributions during the period covered by the report. All records of the Foundation related to its management of the Fund shall be available for inspection by authorized representatives of Grantor at all reasonable times. 1/1/2024 3 #1032637 v1 6.Investments. All assets held as part of the Fund shall be invested by the Foundation in accordance with its general investment policies and objectives approved by the Board of Directors from time to time. Fund assets may be commingled with other assets of the Foundation for investment purposes, provided that accurate accounts are kept of the Fund’s share of any such commingled investments. 7.Administration Fees and Expenses. The Foundation shall be entitled to pay or reimburse itself for all reasonable expenses incurred by the Foundation in administering the Fund, and shall be entitled to charge to the Fund a general administration fee to cover a portion of the Foundation’s general operating expenses. The general administration fee shall be consistent with the Foundation’s normal practice of allocating costs of administration among its various funds. However, the fee charged to the Fund shall not exceed 3% per year. 8.Component Part. It is intended that the Fund shall be a component part of the Foundation and not a separate trust, and that nothing in this Agreement shall affect the status of the Foundation as an organization described in section 501(c)(3) of the Code and as an organization which is not a private foundation within the meaning of section 509(a) of the Code. This Agreement shall be interpreted in a manner consistent with the foregoing intention and so as to conform to the requirements of such provisions of the federal tax laws and any regulations issued pursuant thereto. The Foundation shall have all of the powers provided in the Governing Instruments or otherwise by law in connection with its administration of the Fund. In addition, the Foundation shall have the power, acting alone, to amend this Agreement in any manner required for the purpose of ensuring that the Fund qualifies and continues to qualify as a component part of the Foundation as a “community trust,” within the meaning of Treas. Reg. § 1.170A-9(e)(11). 9.Miscellaneous. (a)This Agreement shall be irrevocable and shall not be subject to any alteration, amendment or revocation by Grantor. (b)References in this Agreement to the Code are to the Internal Revenue Code of 1986, as amended, and shall include the corresponding provisions of any subsequent federal tax laws. (c)Paragraph captions are provided for convenience only and shall have no significance in the interpretation of this Agreement. (d)This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado. (e)This writing is an integrated agreement and is meant to embody the entire agreement between the parties with respect to the Fund. 1/1/2024 4 #1032637 v1 If the terms of this agreement are acceptable to the Grantor, please so indicate by dating and signing this agreement in the space provided below and returning it to the Foundation. Such acceptance will constitute our entire agreement with respect to the Fund. EXECUTED at ________________, Colorado to be effective as of the date first above written. ____________________________________ Grantor Town Mayor TOWN OF FRASER ____________________________________ Attest Town Clerk TOWN OF FRASER ____________________________________ Executive Director GRAND FOUNDATION, a Colorado nonprofit corporation Account: 10-41-860 Grants and Aid to Agencies 1/15/2014 MPHS Post Prom $ 500.00 8/5/2014 FVMRD $ 500.00 7/31/2015 MPHS Post Prom $ 500.00 8/14/2015 Mtn Parks Electric $ 3,055.00 8/14/2015 Fraser Creative Learning Center $ 600.00 5/20/2015 Grand Foundation $ 10,000.00 5/1/2016 Grand Foundation $ 700.00 8/25/2016 Fraser Creative Learning Center $ 600.00 12/2/2016 Fraser River Valley Lions Club $ 250.00 12/2/2016 Northwest Rocky Mtn Casa $ 700.00 1/23/2017 MPHS Post Prom $ 500.00 3/3/2017 Grand Foundation $ 700.00 4/20/2017 Fraser Creative Learning Center $ 170.00 9/7/2017 Fraser Creative Learning Center $ 600.00 12/20/2017 Northwest Rocky Mtn Casa $ 700.00 8/9/2017 Fraser River Valley Lions Club $ 500.00 2/23/2018 Grand Foundation $ 750.00 3/12/2018 MPHS Post Prom $ 500.00 6/25/2018 Fraser Valley Metro Rec District $ 25,000.00 8/9/2018 Fraser Creative Learning Center $ 600.00 8/18/2018 Fraser River Valley Lions Club $ 505.00 3/1/2019 MPHS Post Prom $ 1,000.00 8/14/2019 Fraser River Valley Lions Club $ 500.00 3/9/2021 Winter Park Horseman's Assn $ 300.00 6/15/2021 Grand County Pet Pals $ 350.00 1/5/2022 East Grand Middle School $ 500.00 3/2/2022 Winter Park Horseman's Assn $ 300.00 12/13/2022 Fraser Valley Arts $ 15,000.00 1/6/2023 Fraser Valley Arts $ 15,000.00 1/12/2023 East Grand Middle School $ 300.00 2/13/2023 GCHA $ 10,000.00 2/16/2023 GCBOCC $ 500.00 2/16/2023 Fraser Valley Metro Rec District $ 10,000.00 2/16/2023 KFFR $ 15,000.00 6/28/2023 Winter Park Horseman's Assn $ 300.00 8/2/2023 Grand Foundation (Winter Park Film Fest) $ 10,000.00 8/30/2023 Fraser River Valley Lions Club $ 500.00 $ 127,480.00 10-41-871 Business Enhancement program 7/7/2021 Grand Kids Learning Center $ 50,000.00 7/7/2021 KFFR $ 20,000.00 Dear Town of Fraser, We wish to extend our heartfelt gratitude to you for your generous support of the inaugural Winter Park Film Festival. Your sponsorship played a pivotal role in making this event a resounding success, and we couldn't have done it without your commitment to our community and support of our efforts. The Winter Park Film Festival brought together filmmakers and film enthusiasts from near and far to celebrate the magic of cinema against the backdrop of our beautiful Fraser Valley. Your support helped us create an unforgettable experience for our attendees. As we look to the future, we are excited about the possibilities that lie ahead. The Winter Park Film Festival is just the beginning of what promises to be an enduring celebration for our region. The feedback received thus far has been overwhelmingly positive. Many filmmakers shared with us that our festival operated with the grace and professionalism of one that has been running successfully for five years or more. They were deeply impressed by the organization and smooth execution of this first year event. We have also composed a questionnaire/survey that allows filmmakers (both in attendance and those unable to attend) to report their experiences regarding submitting their films and interacting with our staff. Those reviews have been positive and encouraging as well. With each passing year, we envision the festival growing in stature and influence, attracting even more creative minds and providing our community with a platform to shine cinematically. We are confident that with your continued support, we will achieve even greater heights in upcoming years. One such opportunity for growth we wish to implement for next year is including a third day in which to screen more films. We also envision having another screen to provide more options during any given time period. We would love to partner with you to make these dreams a reality. Once again, thank you for being an essential part of our inaugural festival's success. We look forward to building a stronger partnership and creating a more dynamic future for our community together. Warmest regards, Connor Nelson & Parks Thomson Winter Park Film Festival