HomeMy WebLinkAbout2017-04 (2) Development Agreement Sonnenalp Properties-Solar Vail Redevelopment RESOLUTION NO. 4
Series of 2017
VAIL LOCAL HOUSING AUTHORITY
A RESOLUTION APPROVING A DEVELOPMENT AGREEMENT BETWEEN THE
TOWN OF VAIL, THE VAIL LOCAL HOUSING AUTHORITY AND SONNENALP
PROPERTIES, INC.; AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, the Town of Vail (the "Town"), in the County of Eagle and State of
Colorado is a home rule municipal corporation duly organized and existing under the laws
of the State of Colorado and the Town Charter (the "Charter");
WHEREAS, the members of the Vail Local Housing Authority (the "VLHA") have
been duly elected and qualified;
WHEREAS, Sonnenalp Properties' . (the "Developer") is the owner of certain real
property with a physical address of 501 Noit Frontage Road West, Vail, CO 81658 (the
"Property");
WHEREAS, the Developer plans to -ed elop the Property for rental employee
housing (the "Development");
Y B
WHEREAS, the Developer anticipates .that the Development will consist of 65
residential dwelling units within one building, together with associated landscaping,
lighting, driveway, parking and walkway improvements, as well as renewable energy
options and multi-modal transportation options;
WHEREAS, the final design and layout of the Development is subject to approval by
the Town's Planning and Environmental and Design Review, and will be set forth in an
approved development plan;
WHEREAS, the Development will be subject to a Deed Restriction for the benefit of 1
the Town;
WHEREAS, in exchange for the Deed Restriction, the Town shall pay the Developer
$4,225,000 (the "Town Contribution"). The Town Contribution is based on a per Unit price
of $65,000 (for 65 Units). If the Approved Plan includes less than 65 Units, the Town
Contribution shall automatically be reduced accordingly, on a per-Unit basis. The Town
Contribution shall also be reduced by the actual amount of any grant received by the
Developer from any other source; and
WHEREAS, the Town and the Developer wish to enter into a development
agreement (the "Agreement") to further set forth the responsibilities of the parties with
regarding the Development.
NOW THEREFORE, BE IT RESOLVED BY THE VAIL LOCAL HOUSING
AUTHORITY THAT:
1. The Agreement is hereby approved in substantially the same form attached
Resolution No.4, Series of 2017
hereto as Exhibit A and in a form approved by the Town Attorney, and the
Town Manager is hereby authorized to execute the Agreement on behalf of
the Town.
2. This resolution shall take effect immediately upon its passage.
INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Vail
Local Housing Authority of the Town of Vail held this 4TH day of October 2017.
Steve Lindstrom,
Vail Local Housing Authority Chairman
Town of Vail, Colorado
TEST:
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Town of Vail Housing Coordinator k(C4110 (
ORA
ORATE
Resolution No.4, Series of 2017
1
a
DEVELOPMENT AGREEMENT
THIS DEVELOPMENT AGREEMENT (the "Agreement") is made this ZS
day of C 1-riapyr , 2017 (the "Effective Date"), by and among the Town of Vail,
Colorado, a Colorado home rule municipality with an address of 75 South Frontage
Road, Vail, Colorado 81657 (the "Town"), the Vail Local Housing Authority, a local
housing authority with an address of 75 South Frontage Road, Vail, Colorado 81657
(the "VLHA"), and Sonnenalp Properties, Inc. a Colorado corporation with an address of
20 Vail Rd., Vail, CO 81657 ("Developer") (each individually a "Party" and collectively
the "Parties").
WHEREAS, Developer is the owner of certain real property more particularly
described in Exhibit A, attached hereto and incorporated herein by this reference (the
"Property");
WHEREAS, Developer plans to develop the Property for rental employee
housing (the "Development");
WHEREAS, the Development will be subject to a Deed Restriction for the benefit
of the Town in the form attached hereto as Exhibit B and incorporated herein by this
reference (the "Deed Restriction");
WHEREAS, in exchange for the Deed Restriction, the Town will compensate
Developer as set forth herein; and
WHEREAS, the Parties wish to elaborate on the terms of the Development
process and parameters of the Development.
NOW, THEREFORE, for and in consideration of the mutual promises and
covenants contained herein, the sufficiency of which is mutually acknowledged, the
Parties agree as follows:
1. General Terms of Development. At this time, the Parties anticipate that the
Development will consist of 65 residential dwelling units (each a "Unit" and collectively
the "Units") within one building, together with associated landscaping, lighting, driveway,
parking and walkway improvements, as well as renewable energy options and multi-
modal transportation options. The final design and layout of the Development is subject
to approval of the Town's Planning and Environmental Commission ("PEC") and Design
Review Board ("DRB"), and will be set forth in an approved development plan (the
"Approved Plan").
2. Town Contribution. For completion of the Development in accordance with the
Approved Plan and this Agreement, the Town shall pay Developer $4,225,000 (the
"Town Contribution"). The Town Contribution is based on a per Unit price of $65,000
(for 65 Units). If the Approved Plan includes less than 65 Units, the Town Contribution
shall automatically be reduced accordingly, on a per-Unit basis. The Town Contribution
shall also be reduced by the actual amount of any grant received by Developer from any
other source.
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3. Obligations of the Town.
a. Payment. On or before January 15, 2018, if Developer has complied with
the Approved Plans and this Agreement, the Town shall place the Town Contribution in
a restricted escrow account, to be released back to the Town only if Developer fails to
complete the Development in accordance with this Agreement and the Approved Plan.
If Developer completes the Development in accordance with this Agreement and the
Approved Plan, the Town Contribution shall be released from the restricted escrow
account to Developer within 30 days of issuance of any certificate of occupancy for the
Development.
b. Right-of-Way and Easements. The Town shall, as permitted by law, use
its best efforts to secure required rights-of-way and easements to allow Developer to
fulfill its obligations under this Agreement and to proceed with the Development,
provided that this Section shall not impose any fiscal obligation on the Town.
4. Obligations of the VLHA. The Parties acknowledge their intent that the Property
is to be exempt from ad valorem property taxes pursuant to C.R.S. § 29-4-227. If
necessary to obtain such tax exemption, as permitted by law, the VLHA shall take an
ownership interest Developer's entity.
5. Obligations of Developer.
a. Construction of Improvements. Developer shall, at its sole cost and in
compliance with this Agreement, the Approved Plan and the Vail Town Code, construct
all new improvements on the Property, including the Units, signage, streets, sidewalks,
utilities and other improvements necessary for the Development. Developer shall obtain
final PEC approval of the Development on or before January 8, 2018, and shall deliver
to the Town a final, executed agreement with a manufacturer of the modular
components of the Development on or before March 3, 2018.
b. Applications, Plans and Permits. Developer shall prepare all applications,
design drawings and plans for the Development, and shall be responsible for obtaining
all required permits for the Development.
c. Financing. Developer shall be solely responsible to procure financing for
the Development. If Developer wishes to use federal funds for the Development, it shall
be Developer's sole responsibility to procure such funds.
d. Books and Records. Developer shall maintain all books and records
related to the Development for inspection by the Town upon request.
e. Authority. Developer shall have no right, authority or power to bind the
Town for any claim for labor or for material or for any other charge or expense incurred
in delivering the Development or performing any alteration, renovation, repair,
refurbishment or other work. Developer shall not be considered the agent of the Town
in the construction, erection or operation the Development.
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f. Existing Deed Restrictions. Developer shall exchange the 9 existing deed
restrictions on the Property to other locations in the Town, pursuant to the procedure set
forth in the Vail Town Code, as amended.
g. Deed Restriction. Prior to issuance of any certificate of occupancy for the
Development, Developer shall execute the Deed Restriction and record the Deed
Restriction against the Property. The Deed Restriction shall be a first and prior lien on
the Property, and any financing obtained by Developer shall be expressly subordinate to
such Deed Restriction. The Units subject to the Deed Restriction shall not entitle
Developer to any credit under Section 12-23-7 or Section 12-23-8 of the Vail Town
Code.
h. Compliance with Law. Developer and its agents and contractors shall
comply with all applicable law, including without limitation all current and future federal,
state and local statutes, regulations, ordinances and rules relating to: the emission,
discharge, release or threatened release of a Hazardous Material into the air, surface
water, groundwater or land; the manufacturing, processing, use, generation, treatment,
storage, disposal, transportation, handling, removal, remediation or investigation of a
Hazardous Material; and the protection of human health, safety or the indoor or outdoor
environmental, including (without limitation) the Comprehensive Environmental
Response, Compensation and Liability Act, 42 U.S.C. § 9601, et seq. ("CERCLA"); the
Hazardous Materials Transportation Act, 49 U.S.C. § 1801, et seq.; the Resource
Conservation and Recovery Act, 42 U.S.C. § 6901, et seq. ("RCRA"); the Toxic
Substances Control Act, 15 U.S.C. § 2601, et seq.; the Clean Water Act, 33 U.S.C. §
1251, et seq.; the Clean Air Act; the Federal Water Pollution Control Act; the
Occupational Safety and Health Act; all applicable Colorado environmental laws; and all
other federal, state or local laws and regulations relating to, or imposing liability or
standards of conduct concerning any hazardous, toxic or dangerous waste, substance
or material, now or at any time hereafter in effect.
6. Term. This Agreement shall commence on the Effective Date, and shall
terminate upon the issuance of a final certificate of occupancy for the Development.
7. Remedies.
a. If the Town fails to pay the Town Contribution as provided herein,
Developer shall have all remedies available at law or equity, and the exercise of one
remedy shall not preclude the exercise of any other remedy, provided that Developer
shall not have the remedy of specific performance against the Town.
b. If Developer fails to obtain final PEC approval of the Development by
January 8, 2018, or if Developer fails to deliver to the Town a final, executed agreement
with a manufacturer of the modular components of the Development by March 3, 2018,
the Town shall have no obligation to pay the Town Contribution. In addition, the Town
may exercise any remedy at law or in equity, and the exercise of one remedy shall not
preclude the exercise of any other remedy, and any damages alleged by the may
include lost rents.
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8. Miscellaneous.
a. Modification. This Agreement may only be modified by subsequent written
agreement of the Parties.
b. Integration. This Agreement and any attached exhibits constitute the
entire agreement between Developer and the Town, superseding all prior oral or written
communications.
c. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, successors and assigns.
d. Severability. If any provision of this Agreement is determined to be void
by a court of competent jurisdiction, such determination shall not affect any other
provision hereof, and all of the other provisions shall remain in full force and effect.
e. Governing Law and Venue. This Agreement shall be governed by the
laws of the State of Colorado, and any legal action concerning the provisions hereof
shall be brought in Eagle County, Colorado.
f. Assignment. There shall be no transfer or assignment of any of the rights
or obligations of Developer under this Agreement without the prior written approval of
the Town, except for: an assignment to an entity created by Developer to construct the
Development, with notice to the Town; or an assignment for the benefit of a lender or
lenders in which case such lender(s) shall have all of the rights and obligations of
Developer under this Agreement.
g. Third Parties. There are no intended third-party beneficiaries to this
Agreement.
h. Contingency; No Debt. Pursuant to Article X, § 20 of the Colorado
Constitution, any financial obligations of the Town under this Agreement are specifically
contingent upon annual appropriation of funds sufficient to perform such obligations.
This Agreement shall never constitute a debt or obligation of the Town within any
statutory or constitutional provision.
No Joint Venture. Notwithstanding any provision hereof, the Town shall
never be a joint venture in any private entity or activity which participates in this
Agreement, and the Town shall never be liable or responsible for any debt or obligation
of any participant in this Agreement.
j. Independent Contractor. Developer is an independent contractor.
Notwithstanding any other provision of this Agreement, all personnel assigned by
Developer to perform work under the terms of this Agreement shall be, and remain at all
times, employees or agents of Developer for all purposes. Developer shall make no
representation that it is a Town employee for any purposes.
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i
I
k. Notice. Any notice under this Agreement shall be in writing, and shall be
deemed sufficient when directly presented or sent pre-paid, first class United States
Mail to the Party at the address set forth on the first page of this Agreement.
I. Governmental Immunity. The Town and its officers, attorneys and
employees are relying on, and do not waive or intend to waive by any provision of this
Agreement, the monetary limitations or any other rights, immunities, and protections
provided by the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as
amended, or otherwise available to the Town and its officers, attorneys or employees.
m. Recording. This Agreement shall be recorded with the Eagle County
Clerk and Recorder. The benefits and obligations of the Parties under this Agreement
shall run with the land, and shall be binding on, and enforceable by, any subsequent
holder of an interest in the Property.
WHEREFORE, the Parties have executed this Agreement as of the Effective
Date. _a_` OP
�1"``► �9 TOWN OF VAIL, COLORADO
Greg Cn, T n Manager
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Patt Mc nney, , @lilr4cT0
VAIL LOIO V ;ING AUTHORITY
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Steve Lindstrom, Chair
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DEVELOP R
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STATE OFCO) -CO ) 1
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COUNTY OF )
The foregoing instrument was subscribed, sworn to, and acknowledged
before me this c; 5-4-1-" day of OO�-d .,c'2017, by:: -upas ��e.-SSJe,r—'
My commission expires:(j z 111P '
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EXHIBIT A
LEGAL DESCRIPTION
LOT 8, BLOCK 2, VAIL POTATO PATCH, FILING #1, TOWN OF VAIL, EAGLE
COUNTY, COLORADO.
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DEED RESTRICTION
FOR THE OCCUPANCY OF SOLAR VAIL APARTMENT HOMES
THIS DEED RESTRICTION FOR THE OCCUPANCY OF SOLAR VAIL
APARTMENT HOMES (the "Deed Restriction") is made and entered into this day of
, 2018 (the "Effective Date"), by and between the Town of Vail, a
Colorado home rule municipality with an address of 75 South Frontage Road, Vail, CO
81657 (the "Town"), and Sonnenalp Properties, Inc., a Colorado corporation with an
address of 20 Vail Road, Vail, CO 81657 ("Master Lessee") (each a "Party" and
collectively the "Parties").
WHEREAS, Master Lessee is the owner of certain real property more particularly
described in Exhibit A, attached hereto and incorporated herein by this reference (the
"Property"); and
WHEREAS, in exchange for a contribution from the Town, Master Lessee is
developing the Property for deed-restricted rental employee housing (the
"Development").
NOW, THEREFORE, in consideration of the promises and covenants hereinafter
set for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereby agree as follows:
1. Defined Terms. For purposes of this Deed Restriction, the following terms shall
have the following meanings:
"Principal place of residence" means the dwelling in which one's habitation is
fixed and to which a person, whenever he or she is absent, has a present intention of
returning after an absence therefrom. In determining what is a principal place of
residence, the Town and Master Lessee shall consider the criteria set forth in C.R.S. §
31-10-201(3), as amended.
"Qualified Household" means one Qualified Resident or a group of persons that
contains at least one Qualified Resident (who must sign the Unit lease as a tenant). A
Qualified Household may have occupants that are not Qualified Residents (and who
may also sign the Unit lease as tenants) as long as at least one occupant who has
signed the lease is a Qualified Resident.
"Qualified Resident" means a natural person who occupies a Unit as his or her
principal place of residence and works an average of 30 hours or more per week at a
business in Eagle County, Colorado that holds a valid and current business license, or
pays sales taxes, or is otherwise generally recognized as a legitimate business. For
example, if a person worked 60 hours per week for one half of the year at such a
business in Eagle County, Colorado, and worked elsewhere for the other half of the
year, such person would constitute a Qualified Resident.
"Rental Guidelines" means the guidelines attached as Exhibit B hereto and
incorporated herein by this reference, as amended.
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"Unit" means each of the residential dwelling units constructed on the Property.
2. Binding Effect. This Deed Restriction shall constitute a covenant running with the
Property as a burden thereon, for the benefit of, and enforceable by the Town and the
Master Lessee. This Deed Restriction shall bind the Master Lessee and all occupants
of the Units. Each and every occupant of a Unit shall be personally obligated hereunder
for the full and complete performance and observance of all covenants, conditions and
restrictions contained herein that are applicable to such occupant during such
occupant's respective period of occupancy of a Unit. Each and every conveyance of the
Property or a portion thereof, or interest therein, for all purposes, shall be deemed to
include and incorporate by this reference, the covenants contained in this Deed
Restriction, even without reference to this Deed Restriction in any document of
conveyance.
3. Occupancy and Use.
a. Subject to the Rental Guidelines, each Unit shall be occupied at all times
by a Qualified Household.
b. No business activity shall occur on or in a Unit, other than as permitted
within the zone district applicable to the Property.
4. Unit Lease. No Unit shall be leased or occupied without a Unit lease. Each Unit
shall have only one Unit lease at any one time. Each Unit lease shall include a clear
reference to this Deed Restriction and a brief summary of this Deed Restriction,
including the remedies upon a violation or breach of the terms of this Deed Restriction,
and shall incorporate the terms and conditions of this Deed Restriction.
5. Right To Terminate Lease. Nothing herein shall prevent the Master Lessee from
terminating the lease of a Qualified Household, or taking any other legal action against
the Qualified Household based upon any tenant's breach of the terms of the lease;
provided that if a tenant misrepresents his or her status as a Qualified Resident, Master
Lessee shall terminate the Unit lease in addition to any other available remedies.
6. Inspection. In a non-emergency situation, if the Town or Master Lessee has
reasonable cause to believe that an occupant of a Unit is violating any provision of this
Deed Restriction, the Town or Master Lessee may inspect the Unit between the hours
of 8:00 am and 5:00 pm, Monday through Friday, after providing the occupant with no
less than 24 hours written notice, which notice to tenant may be given by posting on the
front door of the applicable Unit. Nothing herein shall preclude the Town or Master
Lessee from accessing a Unit in an emergency situation where there is an imminent
threat to person(s) or property.
7. Annual Verification. No later than February 1st of each year, beginning in the
year following the first year of occupancy of the Property, Master Lessee shall submit a
written statement to the Town including the following information and stating that such
information is true and correct to the best of Master Lessee's knowledge and belief:
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a. A list of tenants who occupied the Units in the prior calendar year and the
evidence submitted by such tenants to establish that they were Qualified Residents
and/or Qualified Households;
b. A copy of the lease form currently used for the Units; and
c. Copies (which may be electronic) of all application information submitted
by Qualified Residents actually occupying Units.
8. Violations.
a. If Master Lessee discovers a violation of this Deed Restriction by an
occupant, or if the Town notifies Master Lessee in writing that there is a violation of this
Deed Restriction by an occupant, Master Lessee shall send a notice of violation to the
occupant detailing the nature of the violation and allowing the occupant 10 days from
the date of the notice to cure said violation to the reasonable satisfaction of Master
Lessee and the Town. Notice may be given by posting on the front door of the
applicable Unit or by other lawful means. If the violation is not cured within such time,
the violation shall be considered a violation of this Deed Restriction by the Unit
occupant.
b. If the Town discovers a violation of this Deed Restriction by Master
Lessee, the Town shall send a notice of the violation to Master Lessee, detailing the
nature of the violation and allowing Master Lessee 30 days from the date the notice is
given to cure said violation to the reasonable satisfaction of the Town. If a forcible entry
and detainer is necessary to resolve the violation, the forcible entry and detainer shall
be commenced within such 30-day period and diligently prosecuted to completion. If
the violation if not cured within such time, the violation shall be considered a violation of
this Deed Restriction by Master Lessee.
9. Remedies.
a. The Town and Master Lessee shall have any and all remedies provided by
law and in equity for a violation of this Deed Restriction, including without limitation: (i)
damages, including but not limited to damages resulting from the leasing of a Unit in
violation of this Deed Restriction; (ii) specific performance; and (iii) injunction, including
but not limited to an injunction requiring eviction of the occupant(s) and an injunction to
prohibit the occupancy of a Unit in violation of this Deed Restriction. All remedies shall
be cumulative.
b. In addition to any other available remedies, if Master Lessee is found to be
in violation this Deed Restriction (after expiration of any cure period), Master Lessee
shall be subject to a penalty of $100 per violation as determined by the Town in each
instance. Each occurrence is hereby deemed to be a separate violation of this Deed
Restriction, and the penalty may be imposed for each and every day during any portion
of which a violation is found to have been committed, continued or permitted by Master
Lessee. This penalty shall not apply if it is discovered that an occupant provided false
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information to Master Lessee, Master Lessee reasonably relied on such false
information, and the false information caused the violation.
c. If addition to any other available remedies, if an occupant of a Unit is
found to be in violation of this Deed Restriction (after expiration of any cure period), the
occupant shall be subject to a penalty of $100 per violation as determined by the Town
in each instance. Each occurrence is hereby deemed to be a separate violation of this
Deed Restriction, and the penalty may be imposed for each and every day during any
portion of which a violation is found to have been committed or continued by an
occupant.
d. The cost to the Town of any activity taken in response to any violation of
this Deed Restriction by the Master Lessee, including reasonable attorney fees, shall be
paid promptly by Master Lessee; provided that, if the Town or a court of competent
jurisdiction finds that Master Lessee was not in violation of this Deed Restriction, Master
Lessee shall not be liable for such payment.
10. Term. This Deed Restriction shall commence on the Effective Date and run in
perpetuity.
11. Modification. This Deed Restriction may only be modified by subsequent written
agreement of the Parties.
12. Assignment. Neither this Deed Restriction nor any of the rights or obligations of
the Parties hereto shall be assigned by either Party without the written consent of the
other.
13. Severability. If any provision of this Deed Restriction is determined to be void by
a court of competent jurisdiction, such determination shall not affect any other provision
hereof, and all of the other provisions shall remain in full force and effect.
14. Governing Law and Venue. This Deed Restriction shall be governed by the laws
of the State of Colorado, and any legal action concerning the provisions hereof shall be
brought in Eagle County, Colorado.
15. Third Parties. There are no intended third-party beneficiaries to this Deed
Restriction.
16. No Joint Venture. Notwithstanding any provision hereof, the Town shall never be
in a joint venture with the Master Lessee, and the Town shall never be liable or
responsible for any debt or obligation of the Master Lessee.
17. No Indemnity. Nothing herein shall be construed to require the Town to protect
or indemnify Master Lessee against any losses attributable to the rental of a Unit, nor to
require the Town to locate a Qualified Resident for any Unit.
18. Governmental Immunity. The Town and its officers, attorneys and employees,
are relying on, and do not waive or intend to waive by any provision of this Deed
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Restriction, the monetary limitations or any other rights, immunities, and protections
provided by the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as
amended, or otherwise available to the Town or its officers, attorneys or employees.
IN WITNESS WHEREOF, the Parties have executed this Deed Restriction on the
Effective Date.
TOWN OF VAIL, COLORADO
Greg Clifton, Town Manager
ATTEST:
Patty McKenny, Town Clerk
MASTER LESSEE
STATE OF
) ss.
COUNTY OF )
The foregoing instrument was subscribed, sworn to, and acknowledged
before me this day of , 2018, by
as of Sonnenalp Properties, Inc.
My commission expires:
(SEAL)
Notary Public
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EXHIBIT A
LEGAL DESCRIPTION
LOT 8, BLOCK 2, VAIL POTATO PATCH, FILING #1, TOWN OF VAIL, EAGLE
COUNTY, COLORADO.
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EXHIBIT B
SOLAR VAIL APARTMENT HOMES RENTAL GUIDELINES
1. Purpose. The purpose of these Rental Guidelines is to set forth the occupancy
eligibility requirements for the employee housing rental units (the "Units") located in
Solar Vail Apartment Homes, pursuant to the Deed Restriction dated
2. Definitions. All capitalized terms herein shall have the meanings set forth in the
Deed Restriction.
3. Administration. In accordance with the Deed Restriction, Master Lessee shall
administer these Rental Guidelines, including without limitation making determinations
regarding the eligibility of applicants to rent and occupy a Unit. Prior to leasing or
renewing a lease for a Unit, each tenant must sign an individual acknowledgement of
acceptance of the terms of these Rental Guidelines and the Deed Restriction.
4. Qualified Households. To be eligible for consideration to rent a Unit, the
occupants must first be certified as a Qualified Household.
5. Application. To become a Qualified Resident, a person must first provide the
following information on an application to be provided by Master Lessee, and
applications and all accompanying documentation shall become the property of the
Master Lessee and will not be returned to the applicant:
a. Verification (e.g., wage stubs, employer name, address, telephone
number and other appropriate documentation as requested by Master Lessee) of
applicant's current employment with a business in Eagle County that holds a valid and
current business license, or pays sales taxes, or is otherwise generally recognized as a
legitimate business;
b. Evidence that the applicant has worked, or will work, an average of 30
hours per week or more per year for one or more of such businesses and that such
level of employment is expected to be maintained for as long as the applicant lives in
the Unit;
c. A valid form of identification, such as a driver's license, state-issued
identification, passport or military identification.
d. Any other documentation that the Master Lessee deems necessary to
make a determination of eligibility; and
e. A signed statement certifying and acknowledging: that all information
submitted in such application is true to applicant's best knowledge; that the applicant
understands that he/she may not sublet the Unit; that the applicant authorizes Master
Lessee to verify any and all past or present employment and residency information and
all other information submitted by an applicant; and that applicant understands that, as
set forth in the Deed Restriction, the Master Lessee reserves the right to review any
applications and take any appropriate action regarding such application.
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6. Interpretation. In evaluating an application to lease a Unit, Master Lessee shall
be guided by the following:
a. An applicant's physical place of employment is controlling, not the mailing
address of such place.
b. Claims of employment by an applicant that are unable to be verified by
Master Lessee will not be utilized in determining an applicant's eligibility.
c. Seasonal work and part-time work alone may not be adequate to meet the
minimum 30 hours per week average annual requirement, but may augment other
employment to meet the minimum eligibility requirements.
7. Occupancy of Restricted Units.
a. At all times, 10 studio apartment Units and 6 one-bedroom apartment
Units (collectively, the "Restricted Units") shall be occupied by a Qualified Household
that includes at least one Qualified Resident who is employed within the Town's
boundaries, but not employed by the Master Lessee.
b. The Restricted Units shall be leased from October 1st of each year through
September 30th of the following year. If a tenant vacates the Restricted Unit prior to the
end of the lease term, Master Lessee may re-lease the Restricted Unit, but only until the
next September 30th. If a Restricted Unit is unleased after October 1st, Master Lessee
may modify the commencement date of the lease, but the lease term shall terminate on
the next September 30th
c. The availability of Restricted Units shall be publicly advertised at least 15
days prior to the end of the then-current lease term.
d. If a Restricted Unit remains unleased for 10 days or more, Master Lessee
may lease such Restricted Unit to a Qualified Household that includes a Qualified
Resident who works for Master Lessee.
8. Leasing of Units to Non-Qualified Households. If there are no eligible Qualified
Households available to lease a particular Unit other than a Restricted Unit, Master
Lessee may lease such Unit to occupants other than a Qualified Household, but only
upon written approval by the Town's Zoning Administrator, after a finding that
extraordinary circumstances and hardship exist to justify such arrangement. Such
tenancy shall be on a month-to-month basis only, and shall be replaced by a Qualified
Household as soon as a Qualified Household becomes available to lease the Unit.
9. Misrepresentation. Any misrepresentation by an applicant in any submittal shall
disqualify such applicant from being eligible to lease a Unit, and shall be grounds for
eviction if such misrepresentation is revealed after such applicant's occupancy.
10. Inspection of Documents. The Town may inspect any documents submitted with
any application for Qualified Resident status pursuant to Section 5 hereof, at any time
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during normal business hours, upon reasonable notice. In addition, upon inspection, if
the Town reasonably determines that additional documents are necessary to verify
Qualified Resident or Qualified Household status, the Town may request additional
documents.
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