Published January 5, 2020

State of the Association

Written by Rick Fusting

SUMMARY: TMVOA State of the Association

by Anton Benitez

The Annual Members Meeting was held on Dec 18.

Election Results – Jim Royer was re-elected to the Residential seat and will serve another two-year term (he received 66% of votes cast). Michelle Caporicci, GM & Regional VP - Madeline Hotel, ran unopposed for the Lodging seat (receiving 424 votes, more than double the required 20% quorum to be elected) and will also serve a two-year term.

Board Officers – The board elected to maintain Bill Jensen as Chairman, Jim Royer as Vice-Chairman, and elected Tim Kunda as Secretary & Treasurer.

7 Key Updates – While 2019 proved to be a very productive year, here are just a few notable items.
1.    The gondola saw several large capital projects completed; including some smaller projects like new seats in 29 cabins and 9 cabins being completely refurbished
2.    We announced that the grocery market would be transitioned to a new operator after a comprehensive renovation and remodel; with grand opening in May 2020
3.    Resolution of long-standing litigation on Lot 161C-R; resulting in clean title that allows for property to be positioned with qualified developers
4.    Launched Dial-a-Ride App; making it easier and more convenient to use this member benefit
5.    We announced that the Telluride Brewing Company will be in MV in 2020; opening a tasting room, including signature small batch beers brewed on-site and food menu (tacos).
6.    This summer we launched the common consumption area in the MV core; allowing for an alcoholic beverage from an approved establishment to be enjoyed in the plazas
7.    Created on-line dues payment option; allowing members to make a payment on-line with a credit card

Committee Changes – Thanked the members of the investment committee for their expertise, time and service: Brian Kanaga, Michael Zarrilli and Pam Cavness. After serving 4-years, Brian decided to pass the torch and is being replaced by Pete Mitchell.

Local Economy – The data from several areas, including real-estate sales and metrics, and overall spending in MV show positive numbers and trends as compared to historical data.

· Real Estate. In 2019, real estate sales in MV were strong, with TMVOA receiving just over $7M in RETA (real estate transfer assessment at 3%) from MV property sales. This represents the 7th highest year of RETA over the past 30-years (view historical graph since 1992). Key metrics such as average sales price and price/sq ft also showed upward movement for both single family homes and condos in MV. In an effort to keep members informed about property values, we’ve developed a Real Estate Snapshot that highlights key metrics and trends for our local market. We plan to publish this report a few times a year and make it available on our website.

· Spending. Overall spending in MV, as measured by total sales/revenue in 3-key categories all show growth. For example, summer 2019 vs summer 2018 yielded: Lodging (+7.5%), restaurant (+14.2%), and retail (+29.9%). We routinely publish this data in graph format, along with historical data for trending (view these trend graphs).
State of the Association – Take a few minutes to view the State of the Association presentation from the annual meeting or you can watch a video of the full meeting.

Dial-a-Ride: 700 Members Have Downloaded App
We are pleased to see that 41% (700) of all eligible members have download the App. Ridership continues to increase, with a record 551 unique vehicle trips taken on Dec 31st and the new App is making it easier and more convenient to use this transportation amenity. Over the past 10-days, 79% of all rides were requested by using the App.

If you do not have your code or have not set up your app account, please follow these steps.
1.    Get your code that we previously emailed to you (email was from tmvoa@downtownerapp.com). If you cannot locate this email, contact Heidi Stenhammer at heidi@tmvoa.org (please include your name and address of the property you own).
2.    Download the Mountain Village DAR app on your iPhone or Android phone.
3.    Enter your unique owner code in the app to confirm and set-up your account.

For more information about our new app and its functions, visit the TMVOA website here.

On-line Dues Payment Option & How to Save 10%
A new and convenient Online Payment option is now available. This option is available to members who have signed up for receiving invoices via email. Just click the link “Pay Invoice” at the bottom of your emailed invoice and you will be able to pay your assessment securely online with a credit card.

Not signed up for email invoices? Please contact accounting@tmvoa.org to change your settings to email. In an effort to be green, we are encouraging all homeowners to discontinue paper invoices.

TMVOA accepts Discover, Visa, Mastercard, and American Express. We will continue to accept checks via physical mail.

Save 10% if you pay your full-year’s dues by Feb 28, 2020. If you have questions, want to make a payment or receive invoices via email in order to make payments online, call 970-728-1904, ext 5 or email accounting@tmvoa.org.

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Anton Benitez, President & CEO
Telluride Mountain Village Owners Association
anton@tmvoa.org