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Council finds and declares that there is reasonable
justification for the adoption of this Ordinance as an
emergency measure, that this Ordinance is
necessary for the immediate preservation of the
public welfare, and that this Ordinance shall
therefore take effect immediately upon adoption as
provided by Section 4.11 of the Vail Home Rule
Charter.
Section 4. The Council hereby finds, determines
and declares that this Ordinance is necessary and
proper for the health, safety and welfare of the
Town of Vail and the inhabitants thereof.
INTRODUCED, READ, PASSED, ADOPTED AS
AN EMERGENCY MEASURE BY THE
UNANIMOUS VOTE OF COUNCIL MEMBERS
PRESENT OR A VOTE OF FIVE (5) COUNCIL
MEMBERS WHICHEVER IS LESS, AND
ORDERED PUBLISHED THIS 22nd DAY OF
January, 2008.
/=/nick Cleveland Town Mayor
ATTEST:
/s/Lorelei Donaldson Town Clerk
Published in the Vail Daily on January 26, 2008.
(1098132)
THE VAIL DAILY c 970.949.0555 ;1 vaildaily.com
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PUBLIC NOTICE purchase contract to the qualified purchaser, this
ORDINANCE NO. 2 was unable to be accomplished due to unforeseen
Series of 2008 time constraints; and
AN EMERGENCY ORDINANCE APPROVING
THE SALE OF REAL PROPERTY OWNED BY
THE TOWN OF VAIL, DESCRIBED AS UNIT
#201-A, ALTAIR VAIL INN, ALSO KNOWN AS
4192 SPRUCE WAY #201-A, VAIL, COLORADO
81657; AND SETTING FORTH DETAILS WITH
REGARD THERETO
WHEREAS , the Town of Vail (the "Town"), in the
County of Eagle and State of Colorado is a home
rule municipal corporation duly organized and
existing under the laws of the State of Colorado
and the Town Charter (the "Charter"); and
WHEREAS, the members of the Town Council of
the Town (the "Council") have been duly elected
and qualified; and
WHEREAS, the Council authorized the release of
two deed restricted employee housing units at the
Bell Tower building on December 18, 2007; and
WHEREAS, in exchange for the release of the deed
restrictions at the Bell Tower building, Bell Tower,
LLC was required to purchase the real property
described as Condominium Unit 201-A, Altair Vail
Inn, as defined in the amended and restated
Condominium Declaration recorded at reception
number 834747 on May 27, 2003, County of Eagle,
State of Colorado (the 'Property") for use as deed
restricted employee housing. More specifically, the
Property is required to be sold to a person on the
existing Town Master Resale Lottery List with a
inrice appreciation cap deed restriction and an
itial maximum sales price of $178,650.00; and
WHEREAS, although the Town originally intended
Bell Tower, LLC to assign its interest in the
WHEREAS on January 3, 2008, the Town
purchased the Property for the purpose of
executing and recording the above -referenced
deed restriction and to facilitate the transfer of the
Property to a qualified purchaser; and
WHEREAS, the Town is under contract to sell the
Property on January 24, 2008. to said qualified
purchaser and, in order meet the closing deadline
with the ualified purchaser, an Emergency
uerit to Section 411 1 of the Charter
is therefore required.
NOW, THEREFORE, BE IT ORDAINED BY THE
TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, THAT:
Section 1. The sale of the Property is hereby
approved by the Council at the price of
$178,650.00. The Town Manager is hereby
authorized to execute, on behalf of the Town, an
agreement to sell the Property and to take
whatever steps are necessary to complete the sale
of the Property to meet the Townis contractual
obligations. -
Section2. If any part, section, subsection,
sentence, clause or phrase of this ordinance is for
any reason held to be invalid, such decision shall
not effect the validity of the remaining portions of
this ordinance; and the Town Council hereby
declares it would have passed this ordinance, and
each part, section, subsection, sentence, clause or
phrase thereof, regardless of the fact that any one
or more parts, sections, subsections, sentences,
clauses or phrases be declared invalid.
Section 3. Based upon all of the foregoing, the