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Home My WebLink AboutPEC070022 Conditional Use Permit for Parking Structure�� . :� �`'�`�T��`��. � ��`, Conditional Use Permit Application for Review by the Planning and Environmental Commission Department of Community Development 75 South Frontage Road, Vail, Colorado 81657 tel: 970.479.2128 fax: 970.479.2452 web: www.vailgov.com General Information: All projects requiring Planning and Environmental Commission review must receive approval prior to submitting a building permit application. Please refer to the submittal requirements for the particular approval that is requested. An application for Planning and Environmental Commission review cannot be accepted until all required information is received by the Community Development Department. The project may also need to be reviewed by the Town Council and/or the Design Review Board. Type of Application and Fee: � ■ ■ � ■ ■ ■ ■ Rezoning Major Subdivision Minor Subdivision Exemption Plat Minor Amendment to an SDD New Special Development District Major Amendment to an SDD Major Amendment to an SDD (no exterior modifications) $1300 $1500 $650 $650 $1000 $6000 $6000 $1250 ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ Conditional Use Permit Floodplain Modification Minor Exterior Alteration Major Exterior Alteration Development Plan Amendment to a Development Plan Zoning Code Amendment Variance Sign Variance $650 $400 $650 $800 $1500 $250 $1300 $500 $200 Description ofthe Request' Conditional Use Permit for a new parking structure located at 953 South Frontage Road (current Vail Professional Building site). Location of the Proposal: Lot: Block: Subdivision: metes ana bounds Physical Address' 953 soutn Frontage Road Parcel No.: 21o3iai0000a (Contact Eagle Co. Assessor at 970-328-8640 for parcel no.) Zoning: Arterial Business District to be rezoned to Lionshead Mixed Use 2 Name(s) of Owner(s): SOHO Development, LLC c/o Martha Reim 950 17th Stre Suite 1600, Denver, CO 80202 Mailing Address: �� i ' _ '`—yj� :%�i1SCI n�,,,„e. 7 5 4- 2 54 4 ) Siqhature(s): Name of Applicant' Vail Resorts Development Company c/o Thomas Miller Mailing Address• Po soX 959, Avon, co ai6ao Phone: E-mailAddress' tmillerl@vailresorts.com F0X 754-2544 754-2555 F:\cdev\FORMS\Permits\Planning�PEC\conditional_use10-18-2006.doc Page 1 of 5 1/4/06 � � � � � � � � � �; .-�,� �� t Conditional Use Permit Application for Review by the Planning and Environmental Commission Department of Community Development 75 South Frontage Road, Vail, Colorado 81657 tel: 970.479.2128 fax: 970.479.2452 web: www.vailgov.com General Information: All projects requiring Planning and Environmental Commission review must receive approval prior to submitting a building permit application. Please refer to the submittal requirements for the particular approval that is requested. An application for Planning and Environmental Commission review cannot be accepted until all required information is received by the Community Development Department. The project may also need to be reviewed by the Town Council and/or the Design Review Board. Type of Application and Fee: ►r. ■ ■ �' ■ ■ ■ ■ Rezoning Major Subdivision Minor Subdivision Exemption Plat Minor Amendment to an SDD New Special Development District Major Amendment to an SDD Major Amendment to an SDD (no exte�ior modifications) $1300 $1500 $650 $650 $1000 $6000 $6000 $1250 ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ Conditional Use Permit Floodplain Modification Minor Exterior Alteration Major Exterior Alteration Development Plan Amendment to a Development Plan Zoning Code Amendment Variance Sign Variance $650 $400 $650 $800 $1500 $250 $1300 $500 $200 Description of the Request• Rezoning of west Lionshead Parcels located at 953 and 1031•South Frontage Road (current Vail Professional Building site). Location of the Proposal: Lot: BIoCk: Subdivision: metes and bounds Physical Address: 953 ana io3i south Frontage Road Parcel No.: 210312100002/2103121000c�ontact Eagle Co. Assessor at 970-328-8640 for parcel no.) Zoning: Arterial Business District to be rezoned to Lionshead Mixed Use 2 Name(s) of Owner(s): SOHO Development, LLC c/o Martha Reim Mailing Address' 950 17th Street, Suite 1600, Denver, CO 80202 p e. 754-2544 Owner(s) Signature( . � �� Name of Applicant' Vail Resorts Development Company c/o Thomas Miller Mailing Address• Po BoX 9s9, Avon, co si6zo Phone: E-mailAddress' tmillerl@vailresorts.com FaX For Office Use Onlyc Fee Paid: Check No.: By: Meeting Date: PEC`No.: Planner. Project No.: 754-2544 754-2555 F:\cdev\FORMS\Permits\Planning�PEC\conditional_use10-18-2006.doc Page 1 of 5 1 /4/06 � �� •��. �' ' i<.. Rlanning and Environmer�tal �ommissc�n A�7'It�N Ft31�M Department of Cornmunity Devel�pment 75 Sout[t Frontage Road, Vail: Colorado 81657 te1:970.�79.2139 fax:97a.474.2452 web: www.vailgov,ta� Project Name: EVER VAIL CUP PARKING STRUCT Project Description: Participants: PEC Number: PEC070022 EVER VAIL DEVELOPMENT-FINAL APPROVAL FOR A CONDITIONAL USE PERMIT FOR A NEW PARKING STRUCTURE LOCATED AT 953 S. FORNTAGE RD. (CURRENT VAIL PROFESSIONAL BLDG). WITHDRAWN DUE TO REVISED APPLICATIONS HAVING BEEN SUBMITTED. OWNER VAIL CORPORATION 03/27/2007 PO BOX 959 AVON CO 81620-0959 APPLICANT VAIL RESORTS DEVELOPMENT INC 03/27/2007 P.O. BOX 959 AVON CO 81620 License: C000001633 Phone:970-845-2547 � Project Address: 934 S FRONTAGE RD VAIL Location: 934 S. FORNTAGE RD Legal Description: Lot: Block: Subdivision: Unplatted Parcel Number: 2103-121-0000-5 Comments: Motion By: Second By: Vote: Conditions: BOARD/STAFF ACTION Action: WITHDRWN Date of Approval: Cond: 8 (PLAN): No changes to these pians may be made without the written consent of Town of Vail staff and/or the appropriate review committee(s). Cond:300 (PLAN): PEC approval shall not be not become valid for 20 days following the date of approval. Cond:113 (PLAN): All development applications submitted to the Town after the efFective date of Ordinance 26, Series 2006 shall be subject to the pending employee housing regulations in whatever form they are finally adopted; provided, however, that if the Town fails to adopt the pending employee housing regulations by April 15, 2007, this Ordinance shall not apply to such development applications. Planner: Warren Campbell PEC Fee Paid: $650.00 u r--_� =� � + EVER\�:�II_ Thursday, March 22, 2007 Warren Campbell, AICP Senior Planner Town of Vail 75 South Frontage Road Vail, Colorado 81657 Re: Conditional Use Permit and Rezoning Applications for New Parking Structure and Ski Lift in Ever Vail Dear Warren: Included with this letter are applications for conditional use permit and rezoning to allow a 750-space parking structure and a new ski lift (gondola) in the Ever Vail area. These applications follow the adoption earlier this year of amendments to the Lionshead Redevelopment Master Plan to include the West Lionshead area in the master planning area. As we have discussed, these conditional use applications are more conceptual in nature and reflect agreement on a multi-step approval process. Since a conditional use permit is required to establish the right to develop these uses, we are seeking approval of a conditional use permit prior to submitting applications for Major Exterior Alteration or Design Review Approval. Those additional applications will require a significant amount of design detail that is more appropriately developed once we know the uses and the locations are acceptable to the Planning and Environmental Commission. As you are undoubtedly aware, we recently made an official announcement proposing the creation of a new village, known as "Ever Vail," in the west end of the Lionshead area. The new parking structure and ski lift will be two components of this proposed entertainment oriented and LEED certified village containing significant retail, restaurant, office, condominium, employee housing, and lodging uses. Detailed designs . -�-. �. � and plans for the Ever Vail development will be forthcoming upon approval of the requested conditional use permits and rezoning application. The applications included: • Conditional Use Permit for a ski lift; Conditional Use Permit for a parking structure; and Rezoning Application for the Vail Professional Building and Cascade Crossing properties from Arterial Business District to Lionshead Mixed Use 2 District If you have any comments or questions, please do not hesitate to contact me or our planning consultants, Mauriello Planning Group. Sincere , %' c �/ Tho a�� iller � 970-754-2 44 Tmillerl @vailresorts.com J � � Rezoning Rec�uest from ABD to LhMU-2 � Cond�t�onal Use Permit to allow for a Parking Structure Applicant: Va�l Resorts Subm�tted on March 26, 2007 5ubmitted by: �1�1�:1� MarA�ib Plsenf�g Woup � Table of Contents • . Tableof Contents .................................................................. 2 Directory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Introduction of the Rec�uest ..................................................... 4 Vision of Ever Vail and LEED Certification .................................... 5 Review Criteria for a Conditional Use Permit ................................ 8 Review Criteria for a Rezoning Rec�uest .................................... t 4 Ad�acent Addresses ............................................................ 22 2 � Directory Thomas Miller Pro�ect Manager Va�l Resorts Development Company I 37 Benchmark Road Avon, CO 8 I 620 (o) 970-754-2544 (f) 970-754-2555 Tmiller I @vailresorts.com Mauriello Planning Grou� PO Box i I 27 Avon, CO 8 I 620 970.748.0920 (ph) 970.748.0377 (f) mauriello@comcast. net Sam Ecker Gore Range Surveying, LLC PO Box I 5 � 5 I 29 Longsun Lane Avon, CO 8 I 620 (970) 479-8698 (970) 479-005 5 (fax) sam@gorerange.net CALLISON I 420 Fifth Avenue #2400 Seattle, WA 98 I O I-2343 Ph. (206) G23 4646 F. (206) 623 4625 Alpine Engineering, Inc. P.O. Box 97 Edwards, CO 8 I 632 Ph. (970) 926-3373 F. (970) 926-3390 �J 3 � Introduction of the Request We are submitting a rec�uest for a rezoning and conditional use �ermit to allow for a new parking structure in the West Lionshead area. The site is currently zoned Arterial Business District and is the site of the Vail Professional Buildin9 and Gascade Crossing, located at 953 and 1031 Frontage Road. Vail Resorts Development Company is proposing to construct a 750-space parking structure on a portion of the site. We are proposing to rezone the site to Lionshead M�xed Use — 2, pr�mar�ly due to the recent �nclusion of the s�te into the L�onshead Redevelopment Master Plan. Section I 2-71-5: Conditional Uses; Generally (on all levels of a building or outside of a building) allows "Public or private parking lots" as a conditional use in the L�onshead M�xed Use — 2 zone d�strict. Therefore, in add�t�on to the rezon�ng rec�uest, we are rec�uesting a conditional use permit to allow for a 750-space parking structure. These 750 spaces accommodate parking for several uses: 400 spaces for employees d�splaced in Lionshead, I 50 spaces for Town of Va�l generated needs, 200 for future Vail Resorts needs for uses planned in Ever Vail (aka West Lionshead). On December I 5, I 962, Vail Mountain opened with 3 lifts and recorded a total � of �ust 55,000 skiers in the I 962- I 9G3 season. By I 969, it was the most �opular resort in Colorado. Today, there are 33 lifts, and total skier and snowboarder visit5 for the 2005-2006 season was I,676, I I 8. Vail continually strives to improve the guest experience through c�uality infrastructure improvements on the mountain. As a result, Vail has continually been ranked the # I ski resort in North America. The Vail Village parking structure was originally completed �n I 975 w�th only 850 spaces, unt�l �t was expanded �n 1988. The Lionshead park�ng structure was originally constructed in 1980. Currently, there are approximately 2,500 parking spaces available at Vail's two parking garages. The �arking spaces, I,800 of them covered, allow skiers and snowboarders quick and easy access to Vail Mountain via the Vista Bahn ski lift in Vail Village, Eagle Bahn Gondola in Lionshead or Riva Bahn ski lift at Golden Peak. The proposed parkin9 structure in West Lionshead will be adding 750 parking spaces, increasing Vail's structure parking capacity by 30%, yet privately controlled. The parking 5tructure will reduce the vehicular traffic and sk�er (pedestrian) traffic in the more congested areas and portals of the Town, help�ng to �mprove the guest experience town-w�de. At this time, we are rec�uesting a rezon�ng and a cond�tional use permit to allow for a new 750-space parking structure in the West Lionshead area. This is the � first ste� in creating a new portal onto Vail Mountain and a new mixed-use hub of the community. In addition to this rezoning request and conditional use permit � � for a parking structure, we have submitted an appl�cation for a conditional use permit to allow for a new ski lift. Applications for a ma�or exterior alteration and associated DRB applications will also follow once entitlements for the new I�ft and parking structure have been secured. ,r'' /� f/� �j��,,,,-%�_% ,` ��r J� /'� � .% ,.. � .� �, '�< Vision of Ever Vail and /' " � ' �: � LEED Certification � �--y�.�� : � It �s �mportant to cons�der th�s f�rst step with an understanding of the overall redevelopment of the Ever Vail. Ever Vail is envisioned to become a mixed-use hub, mcludin office, retail, and housing. The a ea will include �"�',~� '� �'`�� `�`�` employee housing to serve the new uses in the area. The Frontage Road w�ll be re-al�gned, locating the road ad�acent to I-70, as it is �n many part5 of Town. West Lionshead will become more of a village, like Vail Village or Lionshead, and not be bisected by a ma�or thoroughfare. We are working closely with CDOT in this process, and CDOT is supportive of the road realignment. Ever Vail generally encompasses one million sc�uare feet and will include between 600,000 and 700,000 saleable sc�uare feet of residential and commercial space. The site is currently occupied by Va�l Mounta�n's vehicle maintenance shop yard and warehouse, a retail and office complex, and a gas station, offering the opportunity for a true "Brownf�eld" redevelopment. The new resort v�llage plans call for approximately I 50-250 whole ownership condominium units, approximately 75- I 25 fractional ownership condominium units, an approximately I00,000-sc�uare- foot-room hotel, I 00,000- I 50,000 square feet of commercial retail, office, and restaurant space and an approximately 100,000-sc�uare-foot mountain operations facility. The pro�ect will also include a gondola to serve as the fifth base portal to Vail Mountain, a public park and a new public parking structure. The U.S. Green Bu�ld�ng Council has developed a LEED for Ne�ghborhood Development Rat�ng System. All of the following informat�on regard�ng LEED �s from their document entitled LEED for Ne�ghborhood Deve%pment Rating System. The U.S. Green Building Council, the Congress for the New Urbanism, and the Natural Resources Defense Council—three organizations that represent some of the nation's leaders among progressive design professionals, builders, developers, and the environmental community—have come together to develop a national set of standards for neighborhood location and design based on the comb�ned prinaples of smart growth, new urban�sm, and green building. The goal of th�s partnership is to establ�sh these standards for assessing and rewarding environmentally superior development practices within the rating framework of the 5 � LEED (Leadership in Energy and Environmental Design) Green Bu�ld�ng Rat�ng SystemT"^ � The Neighborhood Development rating system is designed to certify exemplary development pro�ects that perform well in terms of smart growth, new urbanism, and green build�ng. Pro�ects may const�tute whole ne�ghborhoods, fractions of neighborhoods, or mult�ple neighborhoods. Smaller, inf�ll pro�ects that are single use but complement ex�sting neighbor�ng uses should be able to earn certification as well as larger and mixed use developments. It is Va�l Resorts intent for Ever Vail to be a LEED certified neighborhood development. The following components are part of the Ever Vail program: Brownfield Redevelopment. The Amoco s�te, wh�ch Vail Resorts purcha5ed for inclusion in this redevelopment pro�ect, had previous oil and gas spills. Va�l Resorts �s �n the process of having the soils re�uvenated in order to develop a LEED certified building and ski lift on that site as part of the development. The develo�ment will encourage the reuse of land by developing a previously developed site, not forest or open space, reducing the impact of development on undeveloped land. The pro�ect �s the environmentally conscious redevelopment of property on which previous uses have and currently include: fuel storage and disbursement, a i�ght-�ndustr�al mach�ne shop, light industrial oil refining operations, vehicle and heavy machinery maintenance and re�air, and warehousing. Wetland and Water Body Conservation. The pro�ect will conserve natural hydrology and habitat and preserve b�od�vers�ty though con5ervation and improvement of onsite wetlands by removing a culvert and day-lighting Red Sandstone Creek and enhancing its surrounding wetlands. LEED Certified Green Buildings — For the LEED Neighborhood certified bu�ldings requirement, Ever Vail must meet all the criteria for LEED New Construction standards for at least 50% of the building �n the �ro�ect. Vail Resorts plans to have all buildings in the pro�ect meet at least certification level. Some specific construction products that the Company plans to use to meet the standards are as follows: � • Sal�aged Products such as: br�cks, millwork, fram�ng lumber, � plumbing fixture5, and period hardware. • Recyc%d Products such as: Iron-ore slag used to make m�neral wool insulation, fly ash used to make concrete, and PVC scrap from pipe manufacture used to make shingles. • Certified wood products that carry an FSC stamp. • Windows - NFRC-rated unit U-factor of 0.25 or lower. If the frame material is non-green, such as PVC (vinyl), the energy standard is more stringent: U-factor of 0.20 or lower. • Equipment that conserves energy and manages loads such as: water heaters, refrigerators, dishwashers, and clothes washers. • Products that do not re%ase sigrnficant pollutants into the building such as: zero- and low-VOC paints, caulks, and adhes�ves. • Products with very low emissions, such as: nonformaldehyde manufactured wood products. • Products that remove indoor pollutants such as: certa�n vent�lat�on products, filters, radon mitigation ec�uipment. • Products that warn occupants of health hazards in the building such as: carbon monoxide (CO) detectors, lead paint test kits, and other IAQ test kits. • Products that im�r�ove l�ght quality such as: tubular skylights, � spec�al�zed commercial skylights, and f�ber-optic dayl�ght�ng systems, full-spectrum lighting systems and highly reflective ceiling panels. � r �::�zc�r��n� �.ee�ue5t % �,,. Review Criteria for a Conditional Use Permit I. Relationship and impact of the use on development ob�ect�ves of the town. Our AnalySis: To be the Premier Mountain Resort Community. .. We share this vision with the Town of Vail. It is our intent to further this vis�on through the addition of world-class facilities in West Lionshead. In addition, we believe that the provision of a new 750-space parking structure in West L�onshead w�ll allev�ate congestion at other parking structures in the Town of Va�l, and help to reduce the parking is5ues that affect the town. This �s done in con�unction with the proposed gondola and other amenities in West Lionshead. Th�s v�s�on �s further supported by stated development ob�ectives of the Town of Vail. The purpose statement of the Lionshead Mixed Use-2 Zone District states: %he Lionshead mixed use 2 district is intended to pro�rde sites for a � mixture of multiple-family dwellings, lodges, hotels, fractional fee clubs, timeshares, lodge dwelling units, restaurants, offices, skier ser�rces, light industria/ activities, and commercial establishments in a clustered, unified deve%pment. Lionshead m�xed use 2 distr�ct, in accordance wrth the Lionshead redeve%pment master plan, is intended to ensure adequate light, air, o�en space and other amenities appr�opr�iate to the permitted types of buildings and uses and to maintain the desirable qualitres of the zone district by establishing appropriate site deve%pment standar�ds. This zone district is meant to encourage and pro�ide incentives for redeue%ment in accordance with the Lionshead redeve%pment master� plan. This zone district was specifically deve%ed to �rouide incentives for propert�es to redeve%p. The ultimate goal of these �ncent�ves is to create an economically uibrant lodging, housing, and commer�aal core area. The incentives �n th�s zone district include increases in allowable gross residential floor area, building height, and density over the �reviously established zoning in the Lionshead redeve%pment master �lan study area. The primary goal of the incentives is to create economic conditions favorable to inducing �rivate redeve%pment consistent with the Lionshead redeve%pment master �lan. Additionally, the �ncentives are created to help finance �ublic, off site, �mprovements ad�acent to rede�e%pment pro�ects. Public amenities which will be e�aluated w�th rede�e%pment �roposals tak�ng advantage of the �ncentives created : � herein may include: streetscape improvements, �edestrian/bicyc% access, �ublic plaza redeve%ment, �ubl�c art, roadway improvements, and similar improvements. The Lionshead Redevelopment Master Plan prov�des the framework for the Town of Vail to review this conditional use permit application for a new 750- space parking structure. The LionShead Redevelopment Master Plan, originally adopted in December of I 998, describes the Town's intent in the adoption of the Master Plan: Renewal and Redeve%pment Lionshead can and should be renewed and redeve%ped to become a warmer, more vrbr�ant envrronment for guests and residents. L�onshead needs an appeal�ng and coherent ideni�ty, a sense of place, a personality, a purpose, and an im�roved aesthetic character�. l/itality and Amernties We must seize ihe op�ortunity to enhance guest experience and community interaction through expanded and additional act��t�es and amenities such as performing arts venues, conference fac�l�i��es, ice rinks, streetscape, �arks and other recreational improvements. lm�roved lnfrastructure The infrastructure of Lionshead (streets, walkways, transportatiorr systems, �arking, utilities, load�ng and de%very systems, snow remo�al and storage capaaty) and its public and �r��ate ser�rces must be upgr�aded to support redeve%ment and re�rtalization efforts and to meet the ser�ice expectations of our gvests and residents. Recent amendments to the Lionshead Master Plan provide additional direction regarding the West Lionshead Area and more specifically deal with the possibility of an additionai portal onto the ski mountain: With their recent acquisition of additional �ro�erties in this ar�ea, Vail Resorts has the op�ortunity to bring lift ser�rce to this /�art of Lionshead. Lift ser�ice brings with it great �otential for the re-deve%ment of th�s area and in doing so ex�and all of Lionshead to the west with improved pedestrian connections, new retail and office acti�rty and other improvements. While lift access wrll certainly energize this area during the winter months, attention should be given to creating a year-round attract�on within this area of Lionshead (see detailed �lan � recommendations in Chapter� 5). G� � The master plan recommends that this hub become a residentia(/ mixed use area with an emphasis on meeting the needs of both the local community and our guests. Ap�ropriate uses could include high density residential de�e%pment, lodging, community and �rsitor based office and r�etail s�ace, em�loyee housing and parking, bus or transit functions and a ski lift connect�on to l/ail Mountain. The catalyst for this mixed use hub is ski lift access to Vail Mountain. Consideration sho�ld be given to integrating employee housing into the redeve%pment of West L�onshead in accordance with the %wn's employee housing poliaes and regulat�ons. To the extent �ossible deue%pment patterns in this area should reflect north-south orientation of buildings, �rsual �enetrations to the mountain, and a�edestrian oriented en�rronment. The degree of north-south building orientation may be difficult gi�en the relati�ely narrow east-west orientation of this area. ln addition, the intr�oduction of ski lift access in this location creates a catalyst for a structured public parking facility. All service and delivery demands cr�eated by deve%pment in this area shall be accommodated on-site. The amendments to the Lionshead Redevelopment Master Plan also �nclude the follow�ng specif�c recommendat�ons regard�ng a poss�ble West L�onshead parking structure: West Lionshead � The construct�on of a new public park�ng facility at the west end of Lionshead has been a/�lanning consideration since the completion of the l/ail Transportation Master plan in l 99 /. This site �s currently undeve%ed (except for the l/a�l Associates ma�ntenance yard) and is large enough to meet pro�ected parking demand. lt is well located �n r�elation to the potent�al new eastbound 1-70 access ramps. The vrability of a new /�ublic �ar�king facility in this location would be enhanced by bringmg lift ser�rce to this area. The construction of a new public �arking facility would address the existing defiaency of off-street par�king on �eak days and the shifting demand of /�arking created by the mtroduction of a new ski lift in West Lionshead. lt is anticipated that the new public �arking structure would contain approximately 400 public �arking spaces, which would be in excess of any parking requirements generated by pro/�osed deve%pment. The u�date of the l/ail Transportation Plan should prov�de final direct�on on the location and quantity of add�t�onal public �ar�king spaces in the Town of Va�l. The location of additional public parking should consider� where parking is most o/�t�mal for both guests and em�loyees, year round utilization, mountain o�erat�ons, and overall traffic arculat�on. 10 • Given the location for this �arking faality, it had been assumed �, that regular transit or shuttle servrce would be necessary because of its distance from the retail core area and the ski yard (greater than a l 200-foot walking radius). l-�owever, the location of the parking structur�e would be proximate to the new lift and as such the need for regular shuttle serv�ce would be m�rr�m�zed. l-�owever, some prov�s�ons for� bus stops and/or a tr�ansit facility should be considered for the �arking structure. The ap�roval of this cond�tional use permit application allows Vail Resorts to move forward in the development of the West Lionshead area into the mixed- hub des�red by the Town of Vail and described by the Lionshead Redevelopment Master Plan. We envision th�s as step one �n work�ng with the Town of Va�l to further its develo�ment ob�ect�ves �n West Lionshead. 2. Effect of the use on light and air, distribution of population, transportation faalities, util�t�es, schools, parks and recreation faalities, and other publ�c faalities and public facilities needs. Our Analysis: �, We bel�eve that the addition of a 750-space park�ng structure w�ll have po5�t�ve effects on the above criteria. The addition of a new portal onto the ski mountain will serve to disperse skiers, allowing additional choices for their point of entry onto the mountain. Though we are making separate applications for the lift and the parking structure, they are integral in the ability to serve the population by providing both a new lift, and the parking necessary to serve the new I�ft. In addition, this will help to alleviate congest�on �n the Village and Lionshead, by providing skiers with an additional choice to park to access the mountain. 3. Effect upon traffic, with particular reference to congestion, automotive and pedestrian safety and convenience, traffic flow and control, access, maneuverability, and removal of snow from the streets and parking areas. Our Analysis: We are working w�th CDOT in the re-alignment of the Frontage Road and GDOT i5 very supportive of the proposed re-al�gnment. In addition, we are providin9 a transit stop to serve the parking and the overall West Lionshead area. The ski lift will be in close proximity to the proposed parking structure, allowing for skiers to safely walk from the parking structure to the proposed � sk� I�ft. 11 Currently, there are approximately 2,500 park�ng spaces available at Va�l's �, two parking garages. The parking spaces, I,800 of them covered, allow skiers and snowboarders quick and easy access to Vail Mountain via the Vista Bahn ski lift in Vail Village, Eagle Bahn Gondola in Lionshead or Riva Bahn ski lift at Golden Peak. The pro�osed parking structure in West Lionshead will be adding 750 parking spaces, mcreasing Vail's structure parking capacity by 30%. The park�ng structure will reduce the vehicular traffic and skier (pedestrian) traffic in the more congested areas and portals of the Town, helping to improve the guest experience town-wide. The parking structure will be 750 spaces. 400 of these s�aces are part of the displacement of the existing employee parking due to various redevelopment pro�ects in L�onshead and West L�onshead. 150 of these �arking spaces will be provided to address Town stated short fall of parking and 200 w�ll address future needs generated by development �n West L�onshead by the applicant. It is important to note that the impacts of this 750 space parking 5tructure will be Town-wide. The Vail 20/20 process developed the follow�ng goal5: � � Transportation/ Parking • Reduce parking oh the Frontage � Road to l 5 days per season �n 5 �� ;,� �_,.� �` � - year�s by generating l 000 /�ublic �' � * � ° � ' � � � �� - � parking spaces wrthin the Town of �� .� � , � � �� l/ail. ,�``�,r" ` ' �� ' . _��'�, • U�grade the Frontage Roads m, �- order to meet demand for� road � ,� usage and maintain levels of serv�ce. - • Reduce vehic% miles by providing ex�anded alternative tr�ansportation w�th�n the Town and �n associat�on w�th regional trans�t organizat�ons. The proposed parking structure, along with the proposed transit stop and real�gnment of the Frontage Road, w�ll allow the Town to further meet these goals. 4. Effect upon the character of the area in which the proposed use �s to be located, including the scale and bulk of the proposed use in relation to surround�ng uses. Our Analysis: The proposed parking structure is an integral part of the proposed mixed-use hub that West L�onshead is envisioned to become. The parking structure will 12 be faced with commercial on the east side, to minimize the impacts to the � ad�acent mixed-use area. The site lacks many ad�acent uses — the Glen Lyon office buildin9 is the nearest ad�acent property. Access will be provided through the site to the Glen Lyon office building, and it is �ts surface parking that is in closest proximity to the proposed parking structure. � • 13 Review Criteria for a Rezoning Request A. The extent to which the zone district amendment �s cons�stent with all the applicable elements of the adopted goals, ob�ectives and pol�c�es outlined in the Vail comprehensive plan and �s compat�ble w�th the development ob�ectives of the town; and Our Anal�sis: The Lionshead Redevelopment Master Plan provides the framework for the Town of Vail to review this rezoning rec�uest from Arterial Business District to Lionshead Mixed Use-2. The Lionshead Redevelopment Master Plan, or�g�nally adopted �n December of I 998, describes the Town's intent in the adopt�on of the Master Plan: Renewal and Redeve%/�ment Lionshead can and should be r�enewed and redeve%ped to become a warmer, more �ibrant environment for guests and residents. Lionshead needs an appealing and coherent identity, a sense of place, a personality, a pur�ose, and an im�roved aesthetic character. t/itality and Amenities We must seize the opportunity to enhance guest ex�erience and community interaction through ex�anded and additional acti�rties and amenities such as performing arts venues, conference facilities, ice rinks, streetscape, parks and other r�ecreational improvements. lmproved Access and C�r�culation The flow of pedestr�an, veh�cular, bicyc% and mass transit traffic must be improved wrth�n and through L�onshead. lmproved lnfrastructure The infrastructure of L�onshead (streets, walkways, transportation systems, parking, utilities, loading and delivery systems, snow remo�al and storage capacity) and its public and pri�ate servrces must be upgraded to support r�edeve%pment and re�rtalization efforts and to meet the ser�rce ex�ectations of our guests and res�dents. Resolution No. 4, Series of 2007, adopted amendments to the Lionshead Redevelopment Master Plan, 5pecifically dealin9 with the redevelopment of the West Lionshead area. The Town Council, Plann�ng � Commission, and the Town Staff reviewed these Master Plan amendments 14 in detail over a 5ignificant period of t�me and are very famil�ar with the � modifications. As a result, we have only pulled out portions of the amended Lionshead Redevelopment Master Plan that apply specifically to a rezoning request. Greater detail can be provided in future applications. The following language was added to the Master Plan: West Lionshead - ResidentiaUMixed-Use l->ub The western end of Lionshead, currently undeve%/�ed, is home to parking lots, the Vail Assoaates ser�rce yard, the l/ail sanitation plant, the old town sho�s, a former gas station, the l/ail Professional Building, and Cascade Crossing. This area of Lionshead is generally under util�zed and from an aesthet�c stand�oint is not in kee�ing with what the Town would l�ke to see Lionshead become as �t redeve%s in the commg years. The Town of l/ail does place a high �alue on maintaining the office and retail areas in West Lionshead and any redeve%pment should reasonably increase the square footage of existing office and have "no net loss " of retail square footage in West Lionshead. With their� r�ecent acquis�tion of additional properties in this area, l/a�l Resorts has the opportun�ty to br�ng l�ft ser��ce to this part of � Lionshead. Lift ser�rce br�ngs with it great /�otent�al for the re- deve%pment of this area and in doing so expand all of Lionshead to the west with im�roved /�edestrian connections, new retail and office activrty and other im�rovements. While lift access w�ll certainly energize this area during the winter months, attention should be given to creating a year-round attraction wrthin th�s area of Lionshead. The master �lan recommends that this hub become a r�es�dentia(/ mixed use area with an emphasis on meeting the needs of both the local commurnty and our guests. A�propriate uses could �nclude high dens�ty residential deve%ment, lodging, commun�ty and �isitor based office and r�etail s/�ace, employee housing and parking, bus or tr�ans�t functions and a sk� lift connect�on to l/a�l Mountain. The catalyst for this mixed use hub �s ski lift access to Va�l Mountain, Consideration should be given to �ntegrating em�loyee housing into the redeve%pment of West Lionshead in accordance wrth the Town's employee hous�ng po%aes and regulations. To the extent possible deve%pment patterns in this area should reflect north-south or�entation of buildings, �rsual �enetrations to the mountain, and a�edestrian oriented environment. ihe degree of north-south building orientation may be difficult given the relatively narrow east-west orientation of this 15 � ar�ea. ln addition, the mtroduction of ski lift access in this location creates a catalyst for a structured public parkmg facdity. All servrce and delivery demands created by deve%pment in this area shall be accommodated on-site. The site will continue to accommodate the existing and �otentially expanded functions of the l/ail sanitation plant. The mountain ser��ce yard could be r�educed in size, as some funct�ons can be moved to less central locations. lt may also be poss�ble to re%cate the entire mountain service yard to a new location in the West Lionshead area which would allow for greater� flexibility in the redeve%ment of th�s s�te. flowever as the area deve%ps �t �s critical that new uses be connected to the primary pedestrian corr�idors and that they be ser�ved by the Town of I/ail in-town transit system. Connection to West Lionshead West L�onshead cons�sts of the West Day Lot, the Va�l Assoc�ates ser�rce center, the sarntation plant, ihe fioly Gross lot, the former gas stat�on site, the l/a�l Profess�onal Bu�ld�ng, and Cascade Crossing. Because it is an area of �otentially significant growth, �t is im�ortant that it be fully integrated into the Town of l/ail transit system. The West Lionshead properties are at the outside edge of the acceptable walking distance to the ski yard (l 200 feet). With a m�xed use deve%pment �n the area wh�ch �ntegrates a sk� portal, reta�l space, office space and residential deve%ment, trans�t servrce to this area and interconnections to other �ortals will be critical to deve%p in the future. ln addition, the update of the l/a�l Trans�ortation Master Plan shall provrde direction on the ultimate location of a Lionshead Transit Faality along with needed inter�connections between ski portals, regional transit sto�s, and other trans�ortation modes. The addition of a ski lift in this area would make this area more vrable to redeve%pmeni as it would be within the acceptable walking distance of a lift (1,200 feet). Maximum Efficiency and Utilization The fol%w�ng recommendat�ons are made to enhance the effiaency and functionality of the Lionshead transit connect�ons �n ant�apation of future redeve%pment �n the area: Potential New Parking Sites West Lionshead The construct�on of a new public �arking facility at the west end of �, L�onshead has been a planning consideration since the com�letion of 16 � the l/ail Transportat�on Master �lan in l 99 /. This s�te �s currently undeve%ped (except for the Vail Associates maintenance yard) and is large enough to meet pro�ected �arking demand. lt is well located in relaiion to the potential new eastbound 1-70 access ramps. The vrability of a new public parking facility in this location would be enhanced by br�nging l�ft service to th�s area. The construction of a new public parking facility would address the existing deficiency of off-str�eet par�king on �eak days and the shifting demand of �arking cr�eated by the mtroduction of a new ski lift in West Lionshead. lt is anticipated that the new �ublic parking structure would contain a ap�roximately 400 public parking spaces, which would be in excess of any parking requirements generated by pr�o�osed deve%pment. The update of the l/ail Trans�ortation Plan should prov�de final d�rect�on on the location and quantity of additional publ�c /�ar�king spaces in the Town of l/ail. The locat�on of additional �ublic parking should consider where parking is most o�t�mal for� both guests and em�loyees, year round ut�l�zat�on, mountain operations, and overall traffic circulation, • Given the location for this parking facility, it had been assumed that regular� trans�t or shuttle servrce would be necessary because of its distance from the retail core area and the ski yard (greater than a l 200-foot walking radius). l-lowever, the location of the parking structure would be �roximate to the new lift and as such the need for r�egular shuttle servrce would be minimized. However, some �rovrsions for bus sto�s and/or a transit facility should be cons�dered for the parkmg structure. West Day Lot/ 1/ail Associates Service Yard/ floly Cr�oss Site/Gas Station Site Nail Professional Building/ Cascade Crossing As compared to a separate, free-standing �ortal, West Lionshead is considered a�art of the greater L�onshead area. ln order for th�s area to be successful, �t is im�or�tant to have a strong pedestrian connect�on w�th the r�est of L�onshead. A str�ong connect�on along the Gore Creek corridor already exists. Streetsca/�e improvements along West L�onshead Cir�c% between Concert !-�all Plaza (currently the western end of L�onshead retail influence) and the R�tz-Carlton Residences w�ll strengthen existing conditions, and in do�ng so, im�rove the vrability of mixed uses in West Lionshead. lmprovements to street lighting, walk�ng surfaces, seat�ng areas and public art are �ust some examples of what could strengthen this corridor and in doing so further� integrate this area with the rest of �, Lionshead. 17 � lt is assumed that the deve%ment standards of Lionshead Mixed Use / or 2 w�ll gu�de the des�gn of redeve%pment �n th�s area. Notwithstanding the height allowances of these zone districts, building he�ght and massing shall be res�onsive to the Gore Creek corridor, the lnterstate, and how building massing transitions at the western end of Lionshead. Buildings at the westernmost end of West Liorrshead shall gradually "ste/� down " from the maximum allowable height limits of the Lionshead Mixed Use zone districts. We believe that it was the intent of the Town to rezone that portion of West Lionshead zoned Arterial Business District to Lionshead Mixed Use — 2, as the Lionshead Redevelopment Master Plan clearly states. B. The extent to wh�ch the zone district amendment is suitable with the existing and potential land uses on the site and existing and potential surrounding land uses as set out in the town's adopted planning documents; and Our Analysis: As the above analy5is indicates, the Lionshead Redevelopment Master Plan clearly indicates these properties to be a part of the West Lionshead mixed- � use development. Ad�acent properties to the east are currently zoned L�onshead Mixed Use — 2. The property to the south (Glen Lyon Off�ce Bu�ld�ng) �s zoned Special Development D�strict. The proposed s�te �s bounded by I-70 to the North. The re-alignment of the Frontage Road will allow this area to become one cohesive development and the zoning of Lionshead Mixed Use — 2 to the property is more suitable than the current zoning designation of Arterial Bus�ness District. C. The extent to which the zone distr�ct amendment presents a harmonious, convenient, workable relationship among land uses consistent with municipal development ob�ectives; and Our Analysis: The rezoning from Arterial Business District to Lionshead Mixed Use — 2 of these properties will ailow for a more harmonious, convenient, and workable relat�onship in the proposed redevelopment of the West L�onshead area. These properties are the only properties zoned Arterial Business District in the Town of Vail. Rezoning them to Lionshead Mixed Use — 2 allows for redevelopment which meets the town's development ob�ectives as outlined in the Lionshead Redevelopment Master Plan, Zoning Regulations, Va�l 20/20, � etc. � D. The extent to which the zone district amendment provides for the growth of an orderly v�able commun�ty and does not constitute spot zoning as the amendment serves the best �nterests of the community as a whole; and Our Analysis: As the ad�acent area to the east is zoned Lionshead Mixed Use — 2 and this area is part of the Lionshead Redevelopment Master Plan study area, it is clear that this does not constitute a 5pot zoning. This amendment will help to allow the redevelopment of the West Lionshead area �nto a mixed use hub, serving the needs of guests and residents alike. E. The extent to which the zone d�strict amendment results in adverse or benefiaal impacts on the natural environment, including, but not limited to, water auality, air c�uality, noise, vegetation, riparian corridors, hillsides and other desirable natural features; and Our Analysis: This rezoning rec�uest will not result in adverse impacts on the natural � environment. The site is currently developed with commercial uses on the s�te. All development proposals on the site will be completed with the utmost concern for the protection of the natural environment in the area, a5 we consider it an amenity to the guests of West Lionshead. As future appl�cations will indicate, we are hoping to improve the riparian characteristics of Red Sandstone Creek, which borders the property to the east of the Vail ProfeSSional Building. We hope to make the creek a great asset to the area and to do so, we w�ll ensure that there are no adverse impacts to the natural environment. F. The extent to which the zone d�strict amendment �s consistent with the purpose statement of the proposed zone district; and Our Analysis: The purpose statement of the Lionshead Mixed Use -2 Zone District is as follows: The Lionshead m�xed use 2 distr�ict is intended to pro�rde sites for a mixture of multiple-family dwellings, lodges, hotels, fract�onal fee clubs, timeshares, lodge dwelling units, restaurants, offices, skier servrces, light industrial activities, and commercial establishments in a clustered, unified 19 � deve%/�ment. L�onshead m�xed use 2 distr�ct, �n accordance w�th the Lionshead redeve%pment master /�lan, is intended to ensure adequate l�ght, air, open space ahd other amen�t�es ap�ro�riate to the perm�tted types of bu�ldings and uses and to maintain the desirable qualities of the zone d�str�ct by establish�ng appropriate s�te deve%pment standards. This zone district �s meant to encourage and �ro��de incentives for redeve%pment in accordance with the Lionshead redeve%pment master plan. This zone district was specifically deve%ed to �ro�rde incentives for� pro�er�t�es to r�edeve%. The ultimate goal of these incentives �s to create an econom�cally �rbrant lodg�ng, housing, and commercial core area. The �ncent�ves �n this zone distr�ct �nclude increases �n allowable gross residential floor area, building height, and density over the prevrously established zoning in the Lionshead redeve%pment master �lan study ar�ea. The primary goal of the incentives is to create econom�c conditions favorable to induc�ng pri�ate redeve%pment consistent wrth the Lionshead redeve%pment master plan. Additionally, the incentives are created to help finance public, off site, improvements ad�acent to redeve%pment pro�ects. Publ�c amenities wh�ch wrll be e�aluated with redeve%pment pro�osals tak�ng ad�antage of the incentives created herein may include: streetscape �mprovements, �edestr�an/bicyc% access, public �laza redeve%meni, public art, roadway impr�ovements, and similar improvements. The application of L�onshead Mixed Use - 2 to this site, as part of the Lionshead Redevelopment Master Plan study area, is consistent with the above purpose statement. The rezoning will further the goals of the Town of Vail, and ensure consistency with the Lionshead Mixed Use - 2 Zone District. G. The extent to which the zone d�str�ct amendment demonstrates how cond�t�ons have changed since the zoning designation of the sub�ect property was adopted and is no longer appropriate; and Our Anal.ysis: The Arterial Business Zone District was originally adopted in I 982. At the time, Vail and Eagle County was a different place. The population of the entire county in I 980 was �ust under I 5,000. Today, it's estimated to be over 50,000. Beaver Creek Mounta�n opened in 1980. The Lionshead Parking Structure was completed in 1980. The Vail Profess�onal Building was constructed in 1985, and Gascade Crossing was constructed in 1990. Twenty-five years ago, the idea of a"billion dollar" renewal of Va�l was unfathomable. Arterial Business District was not a zone d�strict applied to a 20 � property which would be envi5ioned to become a mixed use hub, with a parking structure and ski lift. Arterial Business District is no longer appropr�ate for the site. �1 \..� � 21 Adjacent Addresses 210312109003 GLEN LYON OFFICE BUILDING C/O ANDREW D. NORRIS I 000 5 FRONTAGE RD W STE 200 VAIL, CO 81 657 210312100005 934 FRONTAGE RD VAIL CORPORATION PO BOX 959 AVON, CO 81 620-0959 210312100004 I 03 I FRONTAGE RD 50h0 DEVELOPMENT LLC 950 I 7TH ST STE I 600 DENVER, CO 80202 210312100002 953 FRONTAGE RD SOhO DEVELOPMENT LLC 950 I 7TH ST 5TE I 600 DENVER, CO 80202 210312124001 923 FRONTAGE RD W VAIL CORP PO BOX 7 VAIL, CO 81 658 210312100010 TOWN OF VAIL C/O FINANCE DEPT 75 S FRONTAGE RD VAIL, CO 81 657 210312109004 SUB:GLEN LYON SUBDIVISION LOT:39- 2 ROBERT J. ROSEN 2005 QPRT NANCY ROSEN 2005 QPRT I I 27 LAKE AVE GREENWICII, CT 0683 I 210312109005 9345 FRONTAGE RD 11AGOPIAN � PENNINGTON,LLC C/O BRENTWOOD ASSOC � T.M. PENNINGTON I I I 50 SANTA MONICA BLVD I 200 LOS ANGELES, CA 90025 210312109002 TOWN OF VAIL C/O FINANCE DEPT 75 S FRONTAGE RD VAIL, CO 81 657 210107200001 TOWN OF VAIL C/O FINANCE DEPT 75 S FRONTAGE RD VAIL, CO 81 657 210107216001 846 FOREST RD EAGLE RIVER WATER � SANITATION DIST 846 FOREST RD VAIL, CO 81 657 210312100005 934 FRONTAGE RD VAIL CORPORATION PO BOX 959 AVON, CO 8 I 620-0959 210107213001 862 FRONTAGE RD W VAIL CORP PO BOX 7 VAIL, CO 81 658 210107216001 846 FOREST RD EAGLE RIVER WATER � SANITATION DIST 846 FOREST RD VAIL, CO 81 657 22 � 210107200001 TOWN OF VAI L C/O FINANCE DEPT 75 S FRONTAGE RD VAIL, CO 81 657 210107211032 826 FOREST RD VAIL RESORTS DEV PO BOX 959 AVON, CO 81 620 210107211031 8 I 6 FOREST RD VAIL RESORTS DEV PO BOX 959 AVON, CO 81 620 210107211033 798 FOREST RD GANNETT, KATf1RYN 690 ARDSLEY RD WINNETKA, IL 60093 210107211034 796 FOREST RD GANNETT, KAThRYN 690 ARDSLEY RD W�NNETKA> IL 60093 210107218002 TOWN OF VAIL 75 S FRONTAGE RD W VAIL, CO 81 657 210107218001 TOWN OF VAI L 75 S FRONTAGE RD W VAIL, CO 81 657 210107217004 825 FOREST RD GORE CREEK PLACE LLC PO BOX 7 VAIL, CO 8 I 658 210107217002 728 LIONSt1EAD CIR VAIL CORP PO BOX 7 VAIL, CO 81 658 Condo Parcel Number 210106317011 210106317024 210106317053 210106317055 210106317057 210106317010 210106317028 210106317056 210106317020 210106317039 210106317050 210106317019 210106317031 210106317044 210106317001 210106317022 210106317033 210106317045 210106317051 210106317016 210106317025 210106317048 210106317008 210106317012 210106317041 00071 O LIONShEAD CIR VAIL 5PA CONDOMINIUM ASSOC 7 I O W LIONSHEAD CIR VAIL, CO 81 657 DANN PETER - Registered Agent PO BOX 5480 AVON, CO 8 I 620 23 Condo Parcel Number �, 210312104032 210312104031 210312104012 210312104025 210312104039 210312104037 210312104029 210312104044 210312104050 210312104058 210312104009 210312104040 210312104016 210312104048 210312104064 210312104059 210312104005 210312104062 210312104008 210312104021 � � 210312104054 210312104066 210312104033 210312104004 210312104007 00I 000 LIONS RIDGE LOOP VAIL RUN RESORT COMMUNITY I 000 LIONS RIDGE LOOP VAIL, CO 81 657 William I Fleischer - Registered Agent I 000 LIONSRIDGE LOOP VAIL, CO 81 657 CDOT 420 I E. Arkansas Avenue Denver, CO 80222 I�' � �J �J ******************************************************************************************** TOWN OF VAIL, COLORADO Statement *******s************************************************************************************ Statement Number: R070000368 Amount: $650.00 03/27/200708:37 AM Payment Method: Check Init: JS Notation: 366917/VAIL RESORTS ----------------------------------------------------------------------------- Permit No: PEC070022 Type: PEC - Conditional Use Parcel No: 2103-121-0000-5 Site Address: 934 S FRONTAGE RD VAIL Location: 934 S. FORNTAGE RD Total Fees: $650.00 This Payment: $650.00 Total ALL Pmts: $650.00 Balance: $0.00 *******************************t************************************************************ ACCOUNT ITEM LIST: Account Code -------------------- PV 00100003112500 Description Current Pmts ------------------------------ ------------ PEC APPLICATION FEES 650.00 LEGAL DESCRIPTION PARCEL 1: Our Order No: VB50018110 A PARCEL OF LAND SITUATED IN A PART OF THE NE1/4 OF THE IVE1/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF VAIL, COUIVTY OF EAGLE, STATE OF COLORADO, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS; BEGINNING AT THE SOUTHWESTERLY CORNER OF TRACT A, SOUTH FRONTAGE ROAD SUBDIVISION, PER THE PLAT THEREOF RECORDED NOVEMBER 6, 2000, UNDER RECEPTION N0. 743424 IN THE OFFICE OF THE EAGLE COUIVTY CLERK AND RECORDED, SAID CORNER ALSO BEING ON THE 1VORTHERLY RIGHT OF WAY OF THE SOUTH FRONTAGE ROAD OF INTERSTATE HIGHWAY NUMBER 70; THENCE ALONG SAID NORTHERLY RIGHT OF WAY SOUTH 73 DEGREES 37 MINUTES 52 SECONDS WEST 200.00 FEET TO THE TRUE POINT OF BEGINIVING; THENCE CONTINUIIVG ALONG SAID 1VORTHERLY RIGHT OF WAY SOUTH 73 DEGREES 37 MINUTES 52 SECONDS WEST 519.60 FEET TO THE POINT OF INTERSECTION OF SAID NORTHERLY RIGHT OF WAY AND THE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE DEPARTING SAID NORTHERLY RIGHT OF WAY NORTH 53 DEGREES 51 MINUTES 29 SECONDS EAST 246.03 FEET ALONG TNE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE CONTINUING ALOIVG SAID SOUTHERLY RIGHT OF WAY NORTH 58 DEGREES 53 MINUTES 10 SECONDS EAST 247.30 FEET; THENCE NORTH 59 DEGREES 28 MINUTES 16 SECONDS EAST 49.07 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT OF WAY SOUTH 16 DEGREES 51 MINUTES 09 SECONDS EAST 158.18 FEET TO THE TRUE POINT OF BEGINNING. PARCEL 2: EASEMENT FOR INGRESS AND EGRESS AS CREATED BY COMBIIVATION RELEASE OF EXISTING EASEMENTS AND CREATION OF NEW CROSS EASEMEIVT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619, COUIVTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018110 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMEIVT IS FOR INFORMATIOIV ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018110 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a conect survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, fust appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UIVITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. TERMS, COIVDITIONS AND PROVISIONS OF COMBIIVATION RELEASE OF EXISTING EASEMENTS AND CREATION OF NEW CROSS EASEMEIVT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619. 12. EASEMENT AS GRANTED TO PUBLIC SERVICE COMPANY OF COLORADO IN INSTRUMENT RECORDED AUGUST 31, 1993 IN BOOK 618 AT PAGE 291. 13. EXISTING LEASES AND TENANCIES. 14. THE EFFECT OF LAIVDSCAPIIVG AND CURB AND GUTTER LYING WITHIN THE FROIVTAGE ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018110 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: ROAD RIGHT OF WAY AS SHOWN ON IMPROVEMENT LOCATION CERTIFICATE PREPARED BY GORE RANGE SURVEYING, LLC DATED JUNE 9, 2005 JOB N0. 02-008. NOTE: THE POLICY OF TITLE WSURANCE WILL INCLUDE AIV ARBITRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAIVD ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED T0, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS A1VD ANY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVERAGE. LEGAL DESCRIPTION PARCEL :1 Our Order No: VB50018109 A PARCEL OF LAND SITUATED IN A PART OF THE NEl/4 OF THE NEl/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE SIXTH PRINCIPAL MERIDIAN, TOWN OF VAIL, COUNTY OF EAGLE, STATE OF COLORADO, SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGIIVNING AT THE SOUTHWESTERLY CORNER OF TRACT A, SOUTH FRONTAGE ROAD SUBDMSIOIV, PER THE PLAT THEREOF RECORDED NOVEMBER 6, 2000, UNDER RECEPTION N0. 743424 IN THE OFFICE OF THE EAGLE COUNTY CLERK A1VD RECORDER, SAID CORNER ALSO BEING THE NORTHERLY RIGHT OF WAY OF THE SOUTH FRONTAGE ROAD OF IIVTERSTATE HIGHWAY NUMBER 70; THEIVCE ALONG SAID NORTHERLY RIGHT OF WAY S. 73 DEGREES 37 MINUTES 52 SECONDS W. 200.00 FEET; THENCE DEPARTING SAID 1VORTHERLY RIGHT OF WAY N. 16 DEGREES 51 MIIVUTES 09 SECONDS W. 158.18 FEET TO A POINT ON THE SOUTHERLY RIGHT OF WAY OF INTERSTATE HIGHWAY NUMBER 70; THENCE ALONG SAID SOUTHERLY RIGHT OF WAY N. 59 DEGREES 28 MINUTES 16 SECOIVDS E. 274.19 FEET TO THE NORTHWESTERLY CORNER OF INTERSTATE HIGHWAY 1VUMBER 70 PARCEL 26B; THEIVCE DEPARTING SAID SOUTHERLY RIGHT OF WAY AND ALONG THE WESTERLY BOUNDARY OF SAID PARCEL 26B S. 10 DEGREES 36 MINUTES 52 SECONDS W. 31.26 FEET TO THE SOUTHWESTERLY CORIVER OF SAID PARCEL 26B, SAID POINT ALSO BEING THE 1VORTHWESTERLY CORNER OF SAID TRACT A; THENCE ALONG THE WESTERLY BOUIVDARY OF SAID TRACT A S. 10 DEGREES 45 MINUTES 05 SECONDS W. 34.40 FEET; THENCE CONTINUING ALONG SAID BOUNDARY S. 04 DEGREES 37 MINUTES 43 SECONDS E. 170.34 FEET TO THE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL 2: EASEMENT FOR INGRESS AND EGRESS AS CREATED BY COMBINATION RELEASE OF EXISTING EASEMENTS AND CREATION OF NEW CROSS EASEMEIVT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018109 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR IIVFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018109 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addiflon, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PEIVETRATE OR IIVTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATEIVT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. ANY RIGHTS, INTERESTS OR EASEMENTS IN FAVOR OF THE STATE OF COLORADO, THE UNITED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AIVD/OR ACROSS THE WATERS AND PRESENT AND PAST BED AND BANKS OF THE RED SANDSTONE CREEK. 12. TERMS, CONDITIONS AND PROVISIONS OF RIGHT OF WAY EASEMENT RECORDED JULY 09, 1984 IN BOOK 388 AT PAGE 756. 13. TERMS, CONDITIOIVS AND PROVISIONS OF COMBINATION RELEASE OF EXISTING EASEMENTS AND CREATION OF 1VEW CROSS EASEMENT AGREEMENT RECORDED DECEMBER 13, 1989 IN BOOK 519 AT PAGE 619. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018109 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 14. TERMS, CONDITIONS AND PROVISIONS OF CONVEYANCE OF EASEMENT RECORDED JUNE 25, 1991 IN BOOK 556 AT PAGE 702 AND RERECORDED AUGUST 29, 1991 IN BOOK 561 AT PAGE 191. 15. LACK OF A DIRECT ACCESS O1V AND TO INTERSTATE HIGHWAY 70, WHICH ABUTS SUBJECT PROPERTY. 16. EXISTING LEASES AND TENANCIES. 17. THE EFFECT OF LANDSCAPING AND CURB AND GUT"TER LYING WITHIN THE FROIVTAGE ROAD RIGHT OF WAY AS SHOWN O1V IMPROVEMEIVT LOCATION CERTIFICATE PREPARED BY GORE RANGE SURVEYING, LLC DATED JUNE 9, 2005 JOB N0. 02-008. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBTTRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATIOIV. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED TO, ANY COIVTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, A1VY SERVICE OF THE COMPANY IN COIVNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATIOIV. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATIOIV PROVISIONS AND ANY OTHER PROVISIONS PERTAINING TO YOUR TTfLE INSURANCE COVERAGE. Our Order No: VB50018107 LEGAL DESCRIPTION A PART OF THE NORTHEAST 1/4 NORTHEAST 1/4 OF SECTION 12, TOWNSHIP 5 SOUTH, RANGE 81 WEST OF THE 6TH P.M., DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT OF INTERSECTION OF THE EAST LI1VE OF SAID SECTION 12 WITH THE SOUTHERLY RIGHT OF WAY LINE OF U.S. HIGHWAY NO. 6, SAID POINT BEING 634.15 FEET SOUTHERLY FROM THE NORTHEAST CORNER OF SAID SECTION 12; THENCE WESTERLY, ALONG THE SOUTHERLY RIGHT OF WAY LINE OF SAID HIGHWAY, A DISTANCE OF 240 FEET, MORE OR LESS, TO A POINT ON THE EAST HIGH WATER BANK OF RED SANDSTONE CREEK; THENCE SOUTHERLY, ALOIVG THE SINUOUSITIES OF SAID EAST HIGH WATER BAIVK, 200 FEET, MORE OR LESS, TO ITS INTERSECTIOIV WITH THE NORTH HIGH WATER BANK OF GORE CREEK; THENCE EASTERLY, ALONG THE SINUOUSITIES OF THE NORTH HIGH WATER BANK OF GORE CREEK, 245 FEET, MORE OR LESS, TO ITS INTERSECTION WITH THE EAST LINE OF SAID SECTIOIV 12; THENCE NORTHERLY, ALONG SAID EAST LINE, 160 FEET, MORE OR LESS, TO THE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018107 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION O1VLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018107 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHTS OF TENANTS UIVDER UNRECORDED LEASES. 11. ANY RIGHTS, INTERESTS OR EASEMENTS IN FAVOR OF THE STATE OF COLORADO, THE UNITED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AND/OR ACROSS THE WATERS AND PRESENT AND PAST BED AND BANKS OF THE RED SANDSTOIVE CREEK. 12. ANY RIGHTS, INTERESTS OR EASEMENTS I1V FAVOR OF THE STATE OF COLORADO, THE UNITED STATES OF AMERICA, OR THE GENERAL PUBLIC, WHICH EXIST OR ARE CLAIMED TO EXIST IN, OVER, UNDER AND/OR ACROSS THE WATERS AND PRESENT AND PAST BED AND BANKS OF THE GORE CREEK. 13. TERMS, CONDTTIONS AND PROVISIONS OF RELEASE AND RIGHT-OF-ENTRY RECORDED AUGUST 07, 2002 AT RECEPTION NO. 803774. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018107 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 14. TERMS, CONDITIONS AND PROVISIONS OF RIGHT OF REFUSAL AS CONTAINED IN UNRECORDED DEALER SUPPLY AGREEMENT. 15. TERMS, CONDITIONS, PROVISIOIVS AND RESTRICTIONS AS CONTAINED IN SPECIAL WARRANTY DEED RECORDED AUGUST 07, 2002 AT RECEPTION NO. 803775. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISIOIV. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED T0, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTIOIV WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIOIVS AIVD ANY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVERAGE. Chicago Tide Insurance Company ALTA COMMITMENT Our Order No. VB50018105 Schedule A Cust. Ref.: Property Address: 923 FRONTAGE RD W. / TRACT A SOUTH FRONTAGE ROAD SUB VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land referred to in this Commitment is described as follows: TRACT A, SOUTH FRONTAGE ROAD SUBDIVISION, ACCORDING TO THE FIIVAL PLAT RECORDED NOVEMBER 6, 2000 AT RECEPTION NO. 734424, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018105 The following are We requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND 1V0 POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018105 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Ta�ces or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addition, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. LIENS FOR UIVPAID WATER AND SEWER CHARGES, IF ANY. 10. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 12. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR NOT OF PUBLIC RECORD. 13. EASEMENT AND RIGHT OF WAY FOR RED SANDSTOIVE CREEK. 14. EASEMENT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. IN DEED RECORDED FEBRUARY 21, 1995 IN BOOK 661 AT PAGE 743. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018105 T6e policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, CONDITIONS AND PROVISIONS OF GORE CREEK PLACE DEVELOPMENT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTION N0. 908751. 16. TERMS, CONDITIOIVS AND PROVISIONS OF ORDINANCE NO. 32 SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION 1V0. 908755. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AIV ARBITRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAIVD ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED TO, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPAIVY IN CONNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND A1VY OTHER PROVISIONS PERTAINING TO YOUR TITLE INSURANCE COVERAGE. Chicago Title Insurance Company ALTA COMMITMENT Our Order No. VB50018103 Schedule A Cust. Ref.: Property Address: 862 FRONTAGE RD W. / SOUTH FRONTAGE ROAD, TRACT B VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATIOIV, A COLORADO CORPORATION 5. The land refened to in this Commitment is described as follows: TRACT B, SOUTH FRONTAGE ROAD SUBDIVISION, ACCORDING TO THE FINAL PLAT RECORDED NOVEMBER 6, 2000 AT RECEPTION N0. 734424, COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018103 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any party other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018103 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: Rights or claims of parties in possession not shown by the public records. Easements, or claims of easements, not shown by the public records. Discrepancies, conflicts in boundary lines, shortage in uea, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer charges, if any.. 8. In addiflon, the owner's policy will be subject to the mortgage, if any, noted in Section 1 of Schedule B hereof. 9. LIENS FOR UNPAID WATER AND SEWER CHARGES, IF ANY. 10. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNTTED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 12. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR NOT OF PUBLIC RECORD. 13. EASEMENT AND RIGHT OF WAY FOR RED SANDSTONE CREEK. 14. EASEMEIVT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. IN DEED RECORDED FEBRUARY 21, 1995 IIV BOOK 661 AT PAGE 743. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018103 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, COIVDITIONS AND PROVISIONS OF GORE CREEK PLACE DEVELOPMENT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTIOIV NO. 908751. 16. TERMS, COIVDITIONS AND PROVISIONS OF ORDINANCE NO. 32 SERIES 2004 RECORDED MARCH 10, 2005 AT RECEPTION NO. 908755. 17. TERMS, CONDITIONS AND PROVISIOIVS OF EASEMENT RECORDED SEPTEMBER 21, 2005 AT RECEPTION N0. 930318. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISIOIV. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED T0, ANY CONTROVERSY OR CLAIM BETWEEIV THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTIOIV WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AND ANY OTHER PROVISIONS PERTAIIVING TO YOUR TITLE INSURANCE COVERAGE. Chicago Tide Insurance Company ALTA COMMITMEIVT Our Order No. VB50018106 Schedule A Cust. Ref.: Prnperty Address: RED SANDSTONE ROAD PARCEL, 127/565 VAIL, CO 81657 1. Effective Date: February 02, 2007 at 5:00 P.M. 2. Policy to be Issued, and Proposed Insured: Information Binder Proposed Insured: THE VAIL CORPORATION, A COLORADO CORPORATION 3. The estate or interest in the land described or referred to in this Commitment and covered herein is: A Fee Simple 4. Tide to the estate or interest covered herein is at the effective date hereof vested in: THE VAIL CORPORATION, A COLORADO CORPORATION 5. The land referred to in this Commitment is described as follows: THAT PART OF THE PARCEL DESCRIBED IN RIGHT-OF-WAY DEED RECORDED IN BOOK 127 AT PAGE 565, APRIL 2, 1943 LYING BETWEEN THE SOUTHERLY RIGHT-OF-WAY FOR INTERSTATE HIGHWAY 70 AND THE NORTHERLY RIGHT-OF-WAY FOR SOUTH FRONTAGE RD, FORMERLY U.S. HIGHWAY 6. NOTE: SAID PARCEL WAS VACATED AS PUBLIC RIGHT-OF-WAY BY ORDINANCE NO. 32, SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION NO. 908755 COUNTY OF EAGLE, STATE OF COLORADO. ALTA COMMITMENT Schedule B - Section 1 (Requirements) Our Order No. VB50018106 The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interestto be insured. Item (b) Proper instrument(s) creating the estate or interest to be insured must be executed and duly filed for record, to-wit: Item (c) Payment of all taxes, charges or assessments levied and assessed against the subject premises which are due and payable. Item (d) Additional requirements, if any disclosed below: This product is for informational purposes only and does not constitute any form of title guarantee nor insurance. The liability of the company shall not exceed the charge paid by the applicant for this product, nor shall the company be held liable to any puty other than the applicant for this product. THIS COMMITMENT IS FOR INFORMATION ONLY, AND NO POLICY WILL BE ISSUED PURSUANT HERETO. ALTA COMMITMENT Schedule B - Section 2 (Exceptions) Our Order No. VB50018106 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the public records. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment. 6. Taxes or special assessments which are not shown as existing liens by the public records.o the Treasurer's office. 7. Liens for unpaid water and sewer chazges, if any.. 8. In addition, We owner's policy will be subject to the morigage, if any, noted in Section 1 of Schedule B hereof. RIGHT OF PROPRIETOR OF A VEIN OR LODE TO EXTRACT AND REMOVE HIS ORE THEREFROM SHOULD THE SAME BE FOUND TO PENETRATE OR INTERSECT THE PREMISES AS RESERVED IN UNITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 10. RIGHT OF WAY FOR DITCHES OR CANALS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES AS RESERVED I1V UIVITED STATES PATENT RECORDED DECEMBER 29, 1920, IN BOOK 93 AT PAGE 42. 11. WATER AND WATER RIGHTS, DITCH AND DITCH RIGHTS, WHETHER OR IVOT OF PUBLIC RECORD. 12. EASEMENT AND RIGHT OF WAY FOR RED SANDSTONE CREEK. 13. EASEMENT AS RESERVED BY HOLY CROSS ELECTRIC ASSOCIATION, INC. IN DEED RECORDED FEBRUARY 21, 1995 IN BOOK 661 AT PAGE 743. 14. TERMS, CONDITIONS AND PROVISIONS OF GORE CREEK PLACE DEVELOPMEIVT AGREEMENT RECORDED MARCH 10, 2005 AT RECEPTION N0. 908751. ALTA COMMITMEIVT Schedule B - Section 2 (Exceptions) Our Order No. VB50018106 The policy or policies to be issued will contain exceptions to the following unless the same are disposed of to the satisfaction of the Company: 15. TERMS, COIVDITIONS AND PROVISIONS OF ORDIIVAIVCE NO. 32 SERIES OF 2004 RECORDED MARCH 10, 2005 AT RECEPTION N0. 908755. 16. TERMS, CONDITIOIVS A1VD PROVISIONS OF EASEMEIVT RECORDED SEPTEMBER 21, 2005 AT RECEPTION NO. 930318. NOTE: THE POLICY OF TITLE INSURANCE WILL INCLUDE AN ARBITRATION PROVISION. THE COMPANY OR THE INSURED MAY DEMAND ARBITRATION. ARBITRABLE MATTERS MAY INCLUDE, BUT ARE NOT LIMITED TO, ANY CONTROVERSY OR CLAIM BETWEEN THE COMPANY AND THE INSURED ARISING OUT OF OR RELATING TO THIS POLICY, ANY SERVICE OF THE COMPANY IN CONNECTION WITH ITS ISSUANCE OR THE BREACH OF A POLICY PROVISION OR OTHER OBLIGATION. PLEASE ASK YOUR ESCROW OR TITLE OFFICER FOR A SAMPLE COPY OF THE POLICY TO BE ISSUED IF YOU WISH TO REVIEW THE ARBITRATION PROVISIONS AIVD ANY OTHER PROVISIONS PERTAIIVING TO YOUR TITLE INSURANCE COVERAGE.