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HomeMy WebLinkAbout2024-12PROOF 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. 12, Series of 2024, First Reading, on the Town of Vail's web site, w"1w.vailgov.com, on The 4t" day of September 2024. Witness my hand and seal this 41" day of September 2024. SAVX�l 601n� Stephanie Kauffman Town Clerk ORDINANCE NO. 12 Series of 2024 AN ORDINANCE APPROVING THE CONVEYANCE OF REAL PROPERTY OWNED BY THE TOWN OF VAIL, DESCRIBED AS LOT 2, TIMBER RIDGE SUBDIVISION TO LION'S RIDGE APARTMENT HOMES, LLC WHEREAS, the Town of Vail ("Town") and Lion's Ridge Apartment Homes, LLC ("Purchaser") are parties to a certain Ground Lease Agreement, dated September 10, 2014 (the "Agreement) which sets forth in Section 27 of the Agreement the terms for the option to purchase Lot 2, Timber Ridge Subdivision; WHEREAS, the Town owns the real property described in Exhibit A, attached hereto and incorporated herein by this reference (the "Property"); and WHEREAS, the Town wishes to convey the Property to Purchaser pursuant to the terms of the Agreement. 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. 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 ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this day of , 2024 and a public hearing for second reading of this Ordinance set for the day of 1 2024, in the Council Chambers of the Vail Municipal Building, Vail, C••..n Travis Coggin, Mayor ATTEST: Stephanie Kauffman, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this day of 2024. Travis Coggin, Mayor ATTEST: Stephanie Kauffman, Town Clerk EXHIBIT A Legal Description Final Plat, Timber Ridge Subdivision, Lot 2, Town of Vail, County of Eagle, State of Colorado PROOF 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. 12, Series of 2024, Second Reading, on the Town of Vail's web site, www.vailaov.com, on The 18t" day of September 2024. Witness my hand and seal this 18t" day of September 2024. SAVX�l 601n� Stephanie Kauffman Town Clerk ORDINANCE NO. 12 Series of 2024 AN ORDINANCE APPROVING THE CONVEYANCE OF REAL PROPERTY OWNED BY THE TOWN OF VAIL, DESCRIBED AS LOT 2, TIMBER RIDGE SUBDIVISION TO LION'S RIDGE APARTMENT HOMES, LLC WHEREAS, the Town of Vail ("Town") and Lion's Ridge Apartment Homes, LLC ("Purchaser") are parties to a certain Ground Lease Agreement, dated September 10, 2014 (the "Agreement) which sets forth in Section 27 of the Agreement the terms for the option to purchase Lot 2, Timber Ridge Subdivision; WHEREAS, the Town owns the real property described in Exhibit A, attached hereto and incorporated herein by this reference (the "Property"); and WHEREAS, the Town wishes to convey the Property to Purchaser pursuant to the terms of the Agreement. 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. 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 ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this day of , 2024 and a public hearing for second reading of this Ordinance set for the day of 1 2024, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Travis Coggin, Mayor ATTEST: Stephanie Kauffman, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this day of )2024. Travis Coggin, Mayor ATTEST: Stephanie Kauffman, Town Clerk EXHIBIT A Legal Description Final Plat, Timber Ridge Subdivision, Lot 2, Town of Vail, County of Eagle, State of Colorado