HomeMy WebLinkAboutDRB16-0265 Red Lion Revised Fee in Lieu Rate_2.pdf
July 20, 2016 Blue Mountain Investments, LLC
Attn: Merrill Stillwell 4720 Bow Mar Drive Bow Mar, CO 80123 Merrill:
The following is the revised calculation for the employee housing fee-in-lieu mitigation. This fee shall be paid to the Town of Vail prior to the issuance of any building permit.
Inclusionary Zoning (12-24-2, Vail Town Code)
New Net Square Feet 1,278 716 square feet
Mitigation Rate 10% of new GRFA
Required Employee Housing Square Feet 128 72 Fee in Lieu Rate $134.65 $320.90/Square Foot
Fee in Lieu Requirement 128 72 square feet x $320.90 = $17,235.20 $23,104.80 Passed by Resolution No. 22, Series of 2016 effective June 21, 2016.
Let me know if questions.
Thank you,
Brian Garner
Town Planner Town of Vail 970-479-2440 bgarner@vailgov.com