HomeMy WebLinkAbout2024-09PROOF OF PUBLICATION
STATE OF COLORADO )
COUNTY OF EAGLE )
I, Stephanie Kauffman, Town of Vail Town Clerk, do solemnly swear and
affirm that I published in full a true and correct copy of Ordinance No. 9, Series of
2024, First Reading, on the Town of Vail's web site, www.vailgov.com, on
The 24t" day of July 2024.
Witness my hand and seal this 24t" day of July 2024.
SAV,e� 601n�
Stephanie Kauffman
Town Clerk
ORDINANCE NO. 9
Series of 2024
AN EMERGENCY ORDINANCE APPROVING THE CONVEYANCE OF REAL
PROPERTY OWNED BY THE TOWN OF VAIL, DESCRIBED AS AMENDED FINAL
PLAT, LOT 1, TIMBER RIDGE SUBDIVISION
WHEREAS, the Town and Triumph Timber Ridge, LLC ("Developer") are
parties to a certain Second Amended and Restated Development Agreement, dated
July 23, 2024 (the "Agreement) which sets forth the terms for the development of
Timber Ridge Village;
WHEREAS, the Town owns the real property described in Exhibit A, attached
hereto and incorporated herein by this reference (the "Property");
WHEREAS, the Town wishes to convey the Property to Developer for the
redevelopment of the Property for deed -restricted employee housing pursuant to the
terms of the Agreement; and
WHEREAS, it is necessary to pass this ordinance as an emergency measure to
meet certain financing deadlines which the Town does not control.
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 authorized and approved by the Town
Council pursuant to the terms of the Agreement. The Town Manager is hereby authorized
to execute and deliver, on behalf of the Town, a special warranty deed for the sale of the
Property and to take whatever steps are necessary to complete the sale of the Property
to meet the Town's obligation pursuant to the Agreement.
Section 2. 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 Town 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 23rd DAY OF JULY 2024.
Travis Coggin, Mayor
ATTEST:
Stephanie Kauffman, Town Clerk