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HomeMy WebLinkAboutPEC080049 Plaza Dev Agreemnt � . V1411. P4.�4ZA HOTEL DEVELOPMENT �►GREEMENT THIS VAiL PLAZA HOTEL DEVE�(3PMENT AGREEMENT (this "Agr�eement") is made effective as of the �� day of Ne�o�., � � 20Q4, by and between the TOWN OF VAIL, a municipai corporation duly organized and existing under and by virtue of the laws of the State of Colorado (the °Town), and , Daymer Cocporation N.V. , a Colorado corporation, (the "Developer'°). RECITALS: A. The Devetoper is the t�uvner of certain reai property in the Town, cammonly known as the Vail ViNage inn which is located in Speciaf Development District No. 6, Phase lV, legaily described on F�chibit A attached hereto (the °Property"). Devetvper intends to redevelop the Property to aliaw for the construction of the Vail Plaza Hotei. That redevelopment is referred to herein as the "Vaii Plaza Hotel Project." B. The Town, through its appropriate boards and reviewing agencies has approved redevelopment plans to allow for the constnaction of the !lail Plaza Hotel Project on the Property (the "VPH Approvals"). � C. Pursuant to the VPH approvals, the Developer has agreed to. provide for certain public improvernents (#he °Public Improvements") as set vut in the VPH Approvals, Town of Vaii Ordinance No. 16, Series 2004� and as more specifically described and defined herein. NOW, THERFORE, in consideration of the above premises and the mutual covenants and agreemen#s set forth herein the parties agree as foilows: 1 . Responsibilities Of The Parties Regardina Pu61ic Im�rovements Required by Developer. The parties hereby agree the Developer shall be responsible for providing the following Public Improvements as part of #he Vail Plaza Hotel Project subject to the tenns below: (a) East Meadow Orive Ught Standards: The Developer shall provide six (6) new light standards along East Meadow Drive. The light standards shall be those specifsd within the East Nieadow �trestscape Plan with "no�rnal" or "typical" � accessories and featunes necessary for normal functioning of the fixture. The standards shal{ be delivered to a mutually agreeable location within the town in the manufacturer's original packaging or installed in a good and workmanlike manner should the infrastructure noted below be instaited by ti�e Town prior to the Vail Plaza Hotel receiving a Certificate of Occupancy. Structural bases and connections, lamps, and electrical infrastructure including but not limited to power and switching shall be the responsibility of the Town. tn additian, Maintenance and/or re-lamping of the standards shall also be the responsibility of the Town. (b) Cr�assroads (South Frt�ntage Roac� Sidewalk The Developer agrees to fumish all materials and labor for installatian of a new, six foot wide, non-heated, gray. concrete sidewalk with attached gray, concrete curb and gutter as indicated in drawing C12 and details A and E, drawing C15 dated 9/1/U4 including associated demoli�on of asphalt areas and sub-grade preparation. The Town shall provide for the relocation of infrastructure, utilities, landscaping features jmmVPH.DL�# , � andlor signage in a timely manner to allow for instafiation af #he sidewalk no later than June 1 , 20t�. Drainage studies and/or struetures, curb cu4s with associated drainage pans shail be the responsibility of the Deveioper. Engineered support or retaining structures, and/or guardrails shalt be the responsibility of the provided by the Town. 7he Developer shal! be responsibie for repair or replacement of e�sting landscape features or irrigation systems removed or damaged within the right of way during construction of this improvement. Shouid the adjacent "Crossroads of Vail Condominiums" — properly receive a building permit for redevefopment of more than �fiy percent of the total site area prior to the receipt of a certificate of occupancy by the Vaii Plaza Hotei, the Developer shall not be obligated to provide any portion of this improvement (c) Vail Vil/age lnn Phase /il (South Frontage Road) Sidewaik: The D�veloper agrees to fumish all materials and labor for installation of a new, soc foot wide, heated, concrete paver sidewalk as indicated in drawing C9 and detail D, drawing C'15 dated 9/1/04 inciuding associated demoli�on of landscape areas and sub-grade preparation. The snowmeft system shall be provided with a separate manifold for zones located within the right of way in accordance w�th drawing M6. 1 . The Developer shall exercise reasanabie care in the construction of this improvement and shall be responsible for repair� or repiacement of ewsting irrigation systems removed or damaged within #he right of way during construction of this improvement, and shail also be responsibte for the placement of certain landscape features as set forth in the subject landscape plan for this area as approved by the Town. (d) Gateway (South Frdntage Roat� Sidewalk The Devetoper agrees to fumish all materials and labor for installation of a new, six foot wide, heated, cancrete paver sidewalk as indi�ated in drawing C11 and detail D� drawing C15 dated 9/1 /04 induding associated demolifion of landscape areas and sub-grade preparation. The snowmett system shalt be provided with a separate manifold for zones located within the right of way in accordance with drawing M6. 1 . The Developer reserrres the rigFtt to modify the alignment of the sidewalk to a mutually agreeable tocation in order to avoid significant natura! features, utilifies or infrastructure. The Developer shall be responsible for repair ar replacement of e�tisting irrigation sy�#ems removed or darnaged within the right � of way during construction of this improvement, and shall alsa be responsible for the placement of certain landscape features as set farth in the subject landscape plan for this area as approveci by the Town. (e) South Frontage Road Median: The Developer agrees to fumish all materials and labor for instaltation of a new, thirteen (approximate) foot wide, landscaped median as indicated in drawings C11 , detail D, drawing C11 and L4 c9ated 9/1 /04, including associated demotifion of e�sting paved and median areas. The Develaper shall provide an operable irrigation system, acceptable to th� Town, far all tandscape areas in accordance with drawing I-2. Concrete curb, gutter and apron details and materials shall match exis�ting. (� Saufh Frr�nfage Road (Vail Ptaza Hote� Sidewatk/Landscaping: The Developer agrees to fumish a0 materials and labar for installation of a new� six foot wide, heated, concrete paver sidewalk, detached curb and gutter, heated jmmV�H.DIA 2 drive including new drainage pan and apron and landscape improvements and irrigation system as indicated in drawings C11 , `L-4 and I-2 as well as details as indicated in drawing C15 dated 9/1 /04 including associated demolition of landscape areas and sub-grade preparation. The snowmelt and irrigation system shali be provided with a separate manifolds or valves for zones located within the right of way. The Developer reserves the right to modify the alignment of the sidewalk to avoid significant natural features� utilities or infrastructure. Additionally, the Developer shall provide landscaping y improvements including irrigation as indicated in drawings L-4 and 1-2. (g) South Frontage Road Sform Drainage Improvements: The Devefoper agrees to provide storm drainage improvements located on the South Frontage Road limited ta one new curb inlet located to the west of the proposed (existing) driveway, one new curb inlet located to the east of the proposed (existing) driveway, one new inlet located on the North side of the proposed median and an 18A RCP tying the finra proposed inlets as well as the Sp CMP toca#ed north of Vail Village Inn Phase 111 and one lateral 18" RCP cannecting the proposed infrastructure to the existing curb intet located east of the lnterstate on-ramp at the north side of the Soe�th Frontage Road. The parties hereby agree that for purposes of bonding for this improvement, as discussed below, the value of this improvement shall be estimated at $56,50Q. (h) Vail Road Sidewalk/Landscaping Improvements: The Developer agrees to fumish al! materials and labor for installation of a new, heated, concrete paver sidewatk, detached curb and gutter, new asphalt tum lane and striping, heated drive including new drainage pan and apron and landscape improvements and irrigation system as indicated in dravuings C9, L-3 and I-1 as well as details as indicated in drawing C15 dated 9/1 /04 including associated dematifion of existing landscape, asphalt areas and sutrgrade preparation. The snowmelt and irrigatior� system shall be provided with a separate manifolds or valves for zones located within the right of way. In addition, the Developer agrees to fumish all materials and labor for installation of a new pan and concrete gutter adjacent to the Gat�way entry. The parties hereby agree that for purposes of bonding for this improvement, as discussed below, the value of this improvement shall be estimated at $37, 128. (i) Vai/ Road Storm Drainage Improvement: The Developer agrees to fumish all materials and tabor for installation of storm drainage improvements locafed on Vail Road limited to relocation and connection with a 24p CCP to the e�sting storm sewer system at East Meadow Drive of one new curb inlet tocated to the north of the proposed driveway as indicated on sheet C9 and detailed on sheet C16 dated 9/1 /04. �j) East Meadow Drive Sidewalk Improvements: The Developer agrees to fumish ali materiats and labor for installation of new, heated, concrete pavers and Strestscape improvements as indicated in drawings C9 and L-3 as well as details as indicated in drawing C15 dated 9/1/04 inctuding associated demolition of existing landscape, asphalt areas and sub-grade preparation. The snowmelt system shall be provided with a separate manifolds or valves for zanes located within this area. In addition, the Developer agrees to fumish all materials and labor for installation of four (4) new light standards along East jmmVFH.DIA � Meadow Drive. The light standards shall be those specified within the East Meadow Streetscape Plan dvith "norma{" or "typicalA accessories and features necessary for normal functioning of the fixture. The [7eveloper agrees to provide installa�ian, structural bases and connections, lamps, and connection to the Town's electrical AAaintenance and/or re-famping of the standards shall also be the responsibility of the Tovm. Storm Drainage Improvements induding iniets and/ar drainage piping shail be the responsibi{ity of the Develaper. The Developer shail exercise reasonable care in the construction of this improvement and shall be responsibfe for repair or repiacement of existing landscape features ar irrigatian systems remaved or damaged within the right of way during construction of this improvement. (k) East Meadow �rive Art in Pubtic P/aces: The Developer agrees to contribute a one-time payment of $35,000 to the East Nleadow Drive Art in Pubiic Plar.es Archway Project or another approved project. Should the Town fail to commence with the design and construction of #he projQct within one year of the date of a Temporary Certificate of Occupancy for the Vaii Plaza Hotel, the one time payment of $35,�00 shalt be refunded to the Developer. 2. Bondin4 For t�ubiic improvements. The parties hereby acknowledge and agree that a bond or letter of credit must be posted for 125°10 of the totai estimated amaunt for each of the Public Improvements list�d above (as set forth in the attached Exhibit �J, with the exception of the one-time contribution to the Art in Public Plac�s fund, which will be futly funded prior to delivery of the building permit. 3. References To Construc6ion Drawin� Dates. Any and all , references to specific construction drawings and/or the date of September 1 , 2004, may be modified oniy as approved by the Towm through tfie building permit process for the Vaii Plaza Hotei Project. if a conflict arises between any construction drawings referenced herein and those approved as part of the buiiding permit for this project, the parties agree that the building permit pians shall contral. 4. Certificate . Of . Camaliance. It is agreed that upan completion of all improvements contemplated by this Agreement and upan the expiration af the warranty period as defined herin, the Tvwn shalt, upon the request of th� Developer, execute a certificate stating tha# all improvements h�ve been c.�ns#ructed in compliance with this Agreement. Sai+d certificate shatl not be unreasonabty withh�ld if the Developer has completed the Public Improvements in a good and workrnanlike manner, and consistent with VPN Approvals and plans furEher approved by the Town. 5. Warran . Developer shall warrant any and all Public Improvements for which Developer is responsibie for a period of iwo (2) years from date of completion and acceptance by the Town. Sper.ifica!!y, Developer shall wanrant that any and all physical improvements or other public benefits required by the this Agreement which are conveyed, dedicated or othervvise done for the benefit of the public shatl be free from any defects in materials and workmanship, and free from any security interest, monetary lien or other encumbrance. � 6. Liabilifi► af Successors. The provisions hereof touch and concem and run with the ownership of the Properly. jmmVPFLDIA Q 7. Notices; Business Davs. Any notice required or permitted under the terms of this Agreement shail be in writing, may be given by the parties hereto or such parties' respective legai counsel, and shall be deemed given and received (i) when hand delivered to the intended recipient, by wfiatever means; (ii) three (3) business days after the same is deposited in the United States maiis, with adequate postage prepaid, and sent by registered or certi�ed mail, with retum receipt requested; (iii} one (1 j business day after the same is � deposited with an ovemight courier senrice of national ar intemational . reputation having a delivery area encompassing the address of the intended recipient, with the delivery charges prepaid; ar (iv) when receivsd via facsimile on the intended recipienYs facsimile facilities accessed by the applicable telephone number set forth below (provided such facsimile delivery and receipt is confirmed an the facsimile facilities of the noticing party). Any notice under clause (i), (ii) or (iii) abave shap be delivered or mailed, as the case may be, to the appropriate address set forth below: . tf to the Developer. c% Daymer Gorporation N.V. 12 Vail Raad, Ste. 200 Vail, CO $1657: Attention: Mr. Waldir R. Prado Fax No. : (970) 476-4697 With cflpy to: Mr. Connie Dorsey Fax No. : (970) 476-4�697 If to the Town: Town of Vaii 75 S. Frontage Road Vail, Cotorada 81657 Attention: Town Manager Fax No. : (970) 479-2157 with a copy ta Town of Vail 75 S. Frontage Road � Vail, Cotorado 81657 . Attention: Town Attomey Fax No. : (970) 479-2157 Either party may change its addresses and/or fax numbers for notices pursuant to a written notice which is given in accordance with the terms hereof, As used herein, the term "business day" shafl mean any day other than a Saturday, a Sunday, or a legal haliday for which U .S. mail service is not provided. Whenever any date or the expiration of any period speciFed under this Agreement falls on a day other than a business day, then such date or period shall be deemed extended to the ne�ct succeeding business day ther�eafter. jmmVPH.DIA 5 8. Sever abilitv. tn ti�e event any provision of this Agreement is held to be illegal, invalid or unenforceabie under any present or future lawrs, the tegality, vafidity and enforceability of the remaining provisions in this Agreement shall not be affecked thereby, and in tieu af the affected pravision there shali be deemed added to this Agreement a substitufe provision that is legal, vatid and enforceabte and tttat is as similar as possible in content to the affected provision. I# is generally intended by the parties that this Agreement and its separate provisions be enforceable to the fullest extent permitted by law. 9. Exhibits. All Exhibits to #his Agreement, which are referenced by the provisions hereaf as being attached hereto are deemed incorporated herein by this reference and made a part hereof. 10. Entire Agreement. This Agreement and ifie other contracts or agreements specifically refierred to herein represent the entire agreement beiween #he parties liereto with respect to the subject matter hereof, and all prior or extrinsic agreements, understandings or negotiations shall be deemed merged herein. 11 . Rules af Construuction. The h�adings, wrhich appear in this Agreernent, are for purposes of convenience and reference and are not in any sense to be canstrued as modifying the paragraphs in which they appear. Each party hereto acknowledges that it has had fult and fair opportunity ta review, make camment upon, and negotiate the terms and provisions of this Agreement, and if there arise any ambiguities in the provisions hereof or any other circumstances which nec�ssitate judicial interpretafton of such provisions, the parties mutually agree that the provisions shall not be construed against #he drafting parly, and waive any rule of law which would othennrise require interpnetation or construction against the inter�sts of fihe drafting party. References herein to the singular shall include the plural, and to the plural shall � include the singular, and any reference to any one gender shall be deemed to include and be applicable to all genders. The titles of the paragraphs in this Agreement are for convenience of reference only and are not intended in any way to define; limit or prescribe the scope or intent of this Agreemerrt. 12. Effective Date. The effective date of this Agreement sha(t be the date upon which this Agreement has been executed and delivered by the Developer and so executed by the Town Manager. 13. Waivers and Amendments. No provision of this Agreement may be waived to any extent unless and except to the extent the waiver is specifically set forth in a written instrument executed by the party to be bound thereby. No modificafion or amendment to this Agreement shall have any force or effect unless embodied in an amendatory or other agreement executed by the Developer and the Town. � 14. Govemina Law and Venue. This Agreement shall be govemed by and construed in accordance with the laws of the State of Colorado, and Eagle County, Colorado shall be the venue for �ny dispute arising under this Agreement. 15. Additional Assurances. The parties agree to reasanably cooperate to execute any additional documents and to take any additional action as may be reasanably necessary to carry out the purposes of this Agreement. jmmVPH.DIA � (� 16. No Third Partv Beneficiary. Na third party is intended to or shall be a benefiaary of this Agreement, nor shali any such third parly have any rights to enforce this Agreement in any respect. 17. Counterparts. This Agreement may be executed in caunterparts, each of which shali constitute an originaf, and which together shall constitute one and the same agreement. 18. Recordin4. This Agreement shall be recorcled in the real property records for Eagle County, Colorada 19. No Joint Venture or Partnership. No form of joint venture or partnership exists between � the Town and the Developer and nothing contained in this Agreement shall be construed as making the Town and the Developer joint ventures or partners. 2Q. Attomeys' Fees. On the event any legal proceeding arises out of the subject matter of this Agreement and is prosecuted to final judgment, the prevailing party shal! be entitled to recover from the other all of the prevailing party's costs and expenses incurred in connection therewith, including reasonable attomeys' fees (and the presiding court will be bound to make this award). , [Balance of page intentionally let'� biank� jmmVPH.DIA 7 .. . THE DEVELOPER: DAYMER CORPtJRATIOIV N.V. , a Colorado corporation � � � � ��..��.�... _ � g . ame: �L. -�- `� Title: ,�--i��, c��'�-q �� �� � STATE OF COLORADO ) � ) ss: COUNTY OF ��,���C�:� ) he foregaing instrument was cknowle ed b fore me this ,���y of ✓ Q.�-•-. � , ,00�, by '(.t.�A� �. ;z.._ e� ot :� aS , � of Daym�r Corporation N .V. , a Colorada corporatio . Witness my hand and o�ciai seai. My commission expires: - �* � � Notary Pubiic �». � �' ��sao�a �' 'N 31NN0� �� �i�'�� .�� � 1��9 ��vPx.D� IN WITNESS WHERE�F, the Town and the Developer have made this Agreement as of the day, month and year ficst above written. THE TOWN: TOWN UF VAIL, a municipal corporation duly organized and existing by virtue of the laws of the N OF � State of Colorado Os1��•......,q�� � � . . . : SE�,,j,,, : . � � By. : ' •' Name: S an Zemler �c•.... •••C{� O�,pRP Title: Town Manager A . i • ; or i Donaldson, Town Cierk STATE OF CO�ORADO ) ) ss: COUNTY OF �'� .�-- ) The foregoing instrument was acknowledged before me this ��,�y of , 200�, by _ . �fiz N ��vn �eK2 as Town M nager of the Town of Vail, a muniapal corporation duly organized and exisfing by virtue of the laws of the State of Colorado. Witness my hand and o�cial se,ai.�Y ANN GRAN/�M-BEST, Notary Pubiic MA My commission expires: My Commission Expires October 28, 20� O� �,OLp,p_ . �on age a ai 165T . 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' i ' � . . r � EXHIBT�' A � �'der No. VTF5QOQ4380 LB�11_ P11Qd LTNES OF SAID VILLAGE INN PI,AZA PNASES I AND II; (1) N�RTH 80 DEGRk:ES 22 hdINUTES 22 SECONDS WEST 125.59 FEET; (2) SOUTH 42 DEGREES 32 MINUTES 21 SECONDS WEST 96.01 FEET; (3) SOUTH 82 DEGREES 06 MIIVUTES 46 SECONDS WEST 49.48 FEET; (4) SOUTH 10 DEGREES 13 MINU'I'ES 02 SECONDS WEST 53.51 FEET TO TNE NORTI�.ASTERLY CORNER OF FORFFTTIJI�E QR REVERTER CLAU5E AML�NDMENT TO CONDOMINIUM MAP OF VILLAGE INN PLAZA - PHASE V CONDOMIlVIU2VIS, ACCORDIlVG TO TH}? MAP TI�TEREOF RECORDED IN T.I� CLE�.2IC'S RECORDS; THENCE THE FOLL0INING THREE COURSES ALONG THE NORTHERLY LINE OF SAID PIRST AMF.NDMENT TO CONDO1V1fI�1N14f MAP OF VII..LAGE INN PLAZA - PHASE V CO1V1701VIINIUMS: (1) NORTH 8Q DEGREFS 02 MII�TUTES 94 BECONDS WEST lO6.T2 FEET; (2) NORTH 09 DEGREES 57 MIIVIJTI�S 16 SECONDS EAST 6.7'5 FEET; (3) NORTH 80 DEGREFS 02 MINUTES 94 SECtJNDS WEST 52.23 FEET� TO TFiE WFSTERLY LINE OF SAID LOT M; THENCB N0�2TH 00 DEGREES 23 i��TNLiTES 00 SECONDS WEST 105.76 FEET. AI.ONG SAID WESTERLY LIlVE, TO THE NORTHWEST CORNER OF SAID LOT M; THENCE, ALONG THE WFST LINE t3F SAID LOT N, NORTH 00 DEGREES 23 MIIVUTES 00 SEC.ONDS WE�T 50.05 FEET, TO THE SOUTI�IWEST CORNER 0� SAID PARCEL DESCRIBED IN BOOK 23a AT PAGE 556 OF THE CLERK'S RECORDS; THENCE THE FOLLOWIlVG TWO COURSES ALONG THE SOUTHERLY AND EASTERLY LIlITES OF SAID PARCEL: (1} SOUTI3 79 DEGREES 46 MINUTES UO SECONDS EAST 147.36 FEET, (2) NORTH 10 DEGREES 14 MHNi.JTTS QQ SECONDS EAST 147.43 FEET. TO THE POINT OF BEGINNING, COUNTY OF EAGLE, STATE OF COLORADO. PARCEL 4: CONDOMINI[JM UN1TS 2 AND 3, ViLLAGE INN PLAZA - PHASE N CONDOMINIUMS, ACCORDWG TO THE CONDOh�tN1UM MAP RECORDED DECEIVIBER 17, 1892, W BOOK 596 AT PAGE 910, AND AS DEFINED AND DESCRIBID IN THE CONDOMINIUIVI DECLARATiON RECORDED DECEMBER 17, 1992 IN BOOK 596 AT PAGE 909. COUNTY OF EAGLE, STATE OF COLOItADO. E1tHI �IT � V�IL. PL� HOTEL DEVELt)PMENT IN7PR(?VEMEiVI' At�REEMEN'T V�►�liE OF P'U �LIC IliitPROVEMENTS item Descri tion Value a East IUleado�r �rive Li ht S#andards $14,020.00 (b) Crossroads (S. �ron�age Rd.) 2s,7s�.00 Sidewalk � . � (c� Vail Village Inn Phase 111 (S. Frontage 2�,5�f 5.Ot1 � Rd Sidewalk . d Ga#ewa S. �ronta e Rd. Sidewa�lk 28, 122.00 e S. Fronta e Rd Nledian U.0 (fl S. �rontage tid. (Vail Plaza Hogel) � 06,0�4.00 Sidewalk/Landsca in (g) Ga#�way Storm Drainage 68,788.00 Im rovements (h) Vail 12oac! Sidewalk/�andscaping 82, 115.00 � Im rovements (i) Vail 62oaci Storm Drainage 38,451 .pED Im roverr�ent (j) E. Nieadow Drive S�dewralk 68,582.00 � Im roveenents � k E. iVfeadow Drive Art in Public Places �952,788.00 � 'T�TAL �6'l2,249.00 Letter of Creclit at 125% of total public improvements shall b� �765.311 .25 � - - - . , . . � • . � � � . � - • � : . . : � , • . : . . � . • �: � : . , , ; : , - - � - - - - . ' � . • - • - - - , �_._. . .. � _ . , J _ . . . __ . ������ _ .. ' � - � '!!�'e;�'�� .._ _ f��� _ _���� _ _ _ ._. �'���f���i�!� �L1�� �tl`I�■■�t��l� : . . . 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