Who is Beaver Creek Resort Company?
The Beaver Creek Resort Company of Colorado combines a homeowners association and a resort association with some municipal services added. The Resort Company, a Colorado non-profit corporation, incorporated on April 30, 1979, was designed to help Beaver Creek become and remain a unique resort community. By virtue of its Articles of Incorporation, the Resort Company is vested with a wide range of responsibilities and authority. It was created to perform certain functions and to manage certain property for the common benefit of property owners and businesses within Beaver Creek. Today, these functions include:
A. Marketing Providing marketing and advertising of the village and resort.
B. Transportation This function was assigned to the Beaver Creek Metropolitan District (a quasi-municipality) on January 1, 1999 thus providing inter-village service and parking lot shuttle system. (Transportation services may be assigned, but are still the responsibility of the Beaver Creek Resort Company.)
C. Municipal Services Providing maintenance of common areas such as parks and community malls; providing Public Safety Services and controlled access to Beaver Creek Resort; providing solid waste collection and disposal service for common areas.
D. Community Quality Monitoring environmental quality and establishing a Design Review Board for architectural review and consistency of quality.
HOW DOES BCRC FUNCTION?
The Resort Company employs a Managing Director who reports to the Board. The Resort Company has ten staff members who are provided pursuant to a contract with Vail Resorts. In the interest of economy and efficiency, the Resort Company Board of Directors has entered into a management agreement with Vail Resorts whereby Vail Resorts, Inc. provides all the services required by the Resort Company at a fixed fee which includes all those functions outlined above, in addition to the administrative functions such as accounting, budgeting and planning. Under the Management Agreement, an annual budget is prepared and presented to the Board of Directors each September for review and approval. Copies of the proposed budgets are made available to members for review.
WHO IS IN THE RESORT COMPANY?
Membership in the Beaver Creek Resort Company is compulsory; owners of residential or commercial property or commercial tenants automatically become members of the Resort Company. Voting rights are based on a membership classification system, defined as follows:
- Class Residential (1 Vote per Dwelling Unit built) currently represented by Jeff Luker and Tim Maher, residential owners within the resort.
- Class B Hotel or Lodge (1 Vote per Dwelling Unit) currently represented by Ross Bowker of East West Resorts.
- Class C Commercial (1 Vote per 250 sq. ft.) currently represented by Brian Nolan, owner of the Blue Moose Restaurant.
- Class D All others not A, B, C, (1 vote per Site) currently represented by Bob Boselli, property owner within the resort.
- Class E Declarant Special Member, currently represented by James Donohue and Kristin Williams, both of whom are appointed by Vail Resorts, Inc.
- Class F Mountain Special Member, currently represented by Beth Howard and Phillip Metz, employed by Vail Resorts, Inc.
Commencing with the Annual Meeting of Members in November, one Class A Director will be elected each year to serve for a term of two years. Class C and E Directors are elected at annual meetings held in years ending in an even number while Class B, D and F Directors are elected at annual meetings held in odd years. The Officers are President, Beth Howard, and each of the other Board Members are Vice Presidents. The Managing Director is Jen Brown, the CFO is Tom Allen, and Secretary is Elizabeth Jones. The Managing Director is not an officer of the Resort Company.
WHERE DOES THE MONEY COME FROM?
The funding plan for the Resort Company was designed to be comprehensive and equitable for all its members. It recognizes the mixture of commercial, residential, and recreational activities within Beaver Creek. There are essentially six revenue sources:
- Common Assessments are annual fees based on the assessed valuation of your property times a mill rate established by the Resort Company Board annually; however, the rate has been capped at 20 mills. This assessment is billed on or before May of every year and is payable on or before June 30. The Resort Company Common Assessments do not replace usual property tax liabilities.
- Civic Assessments are special resort fees, which are based on 5.35% of your taxable sales.
- Mountain Special Assessment. Since lift tickets are not taxable under Colorado Law, a special equivalent fee of 5% of lift ticket sales in Beaver Creek is paid by Vail Associates to the Resort Company. This also applies to on-mountain restaurant revenues.
- Real Estate Transfer Assessment (RETA) is collected every time title to property is transferred. The assessment is equal to 2.375% of the fair market value.
- Recreation Assessment is based on 5% of gross revenues from activities and services not taxable under Colorado Retail Sales Tax such as golf fees, tennis courts and lessons, ski school lessons, and horseback riding.
- Lodging Assessments are special resort fees, which are based on 0.96% of rental income.
HOW CAN YOU GET INVOLVED?
The Resort Company administration, its Board of Directors, and its operations managers are all committed to providing high quality service and to maintaining good communication with its membership. If you are already familiar with the various managers of operations, we encourage that continued communication. But, if you are uncertain about whom to contact on a specific issue or question, contact Elizabeth Jones EJones1@bcresortco.com for assistance and direction. The Resort Company is here to serve its membership. The Board meets every month and members are urged to communicate their concerns and ideas to their Directors.
NEED MORE INFORMATION?
This summary is intended to provide you with a nutshell explanation of the Beaver Creek Resort Company. It is a complex organization, and if you would like to know more, we urge you to obtain complete copies of the Articles of Incorporation, Bylaws, and Rules and Regulations. Please contact Elizabeth Jones, Director of Administration of the Resort Company, at (970) 845-5971, or P.O. Box 5390, Avon, CO 81620-5390. Administrative Offices are located in Suite 118-C of the Beaver Creek Lodge. Property owners in Beaver Creek Resort Company are also within the Beaver Creek Metropolitan District boundaries and are responsible for a variety of fees and taxes to the District. More information regarding the Metropolitan District is available at (970) 926-6060, or P.O. Box 976, Avon, CO 81620.