HomeMy WebLinkAbout2025-17 A Resolution Approving a Mutual Release of Restrictive Covenant between the Town of Vail and Spadafora Declaration of TrustRESOLUTION NO. 17
Series of 2025
A RESOLUTION APPROVING A MUTUAL RELEASE OF RESTRICTIVE COVENANT
BETWEEN THE TOWN OF VAIL AND SPADAFORA DECLARATION OF TRUST
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”);
WHEREAS, the members of the Town Council of the Town (the “Council”) have
been duly elected and qualified;
WHEREAS, Spadafora Declaration of Trust, on behalf of Sam Spadafora (the
“Releasee”) is the owner of that certain property (“the Property”) located within the Town
of Vail, Eagle County, Colorado, with a physical address of 2349 Chamonix Lane, Vail,
Colorado 81657;
WHEREAS, a restrictive covenant (“Restrictive Covenant”) was recorded against
the Property for the sole purpose of creating an employee housing unit within the Town
of Vail as provided in Chapter 12-13, Vail Town Code;
WHEREAS, said Restrictive Covenant was recorded against the Property in the
records of the Clerk and Recorder of Eagle County, Colorado on July 31, 1991, and
subsequently amended on September 4, 1992, by mutual agreement;
WHEREAS, The Town is the beneficiary of said Restrictive Covenant;
WHEREAS, Releasee and the Town, pursuant to Section 12-13-5 of the Vail
Town Code, wish to mutually release the Restrictive Covenant in exchange for a fee in
lieu payment of $180,000 (the “Fee in Lieu Payment”); and
WHEREAS, on April 8, 2025, the Vail Local Housing Authority held a public hearing
on the EHU exchange application and has forwarded its unanimous recommendation of
approval of the request to the Vail Town Council.
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail,
Colorado:
Section 1. The Council hereby approves the Mutual Release of Restrictive
Covenant and authorizes the Town Manager to execute the Mutual Release of
Restrictive Covenant Agreement on behalf of the Town in substantially the same
form as attached hereto as Exhibit A and in a form approved by the Town Attorney
upon compliance with the following conditions:
1. Payment of the Fee in Lieu Payment to the Town of Vail,
2. Approval of a design review application verifying the changes in GRFA to the
Property, and
3. The removal of the kitchen facilities from within the existing EHU on the
Property
Section 2. This Resolution shall take effect immediately upon receipt of the Fee in Lieu
Payment by the Town of Vail and the execution and recording of the Mutual Release of
Restrictive Covenant Agreement
INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of April, 2025.
Travis Coggin, Mayor
ATTEST:
Stephanie Johnson, Acting Town Clerk