HomeMy WebLinkAboutRucksack Building 11-04-08
Rucksack Building Renovation
Legal Description: Lot D, Vail Village 1st Filing
PEC 07-0039
07-0076
Net New Commercial Sq Ft for Rucksack Building
Commercial Increase = Commercial Linkage
Commercial Linkage requirement = 20% of net new employees generated
1. Increase in Retail sq ft from 5,448 sq ft to 5,580 sq ft
= 132 sq ft increase
132 sq ft / 1,000 x 2.4 employees (Retail Store) x 20% mitigation
= .06 employees to be provided deed restricted employee housing
2. Increase in Real Estate Office sq ft from 1,405 sq ft to 2,177
= 772 sq ft increase
772 sq ft / 1,000 x 5.1 employees (Real Estate Office) x 20% mitigation
= .79 employees to be provided deed restricted employee housing
Possible Method of Mitigation for Commercial Linkage
1. Fee-in-Lieu
i. Provide a fee-in-lieu payment to the Town of Vail of
.85 employees x $131,385 = $111,677.25