HomeMy WebLinkAboutDRB16-0265 Red Lion Revised Fee in Lieu Rate.pdf
July 13, 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/Square Foot
Fee in Lieu Requirement
128 72 square feet x $134.65 = $17,235.20 $9,694.80
Let me know if questions.
Thank you,
Brian Garner
Town Planner
Town of Vail
970-479-2440
bgarner@vailgov.com