HomeMy WebLinkAbout2018-12 VLHA Sonnenalp Properties Development Agreement Second Amendment RESOLUTION NO. 12
Series of 2018
VAIL LOCAL HOUSING AUTHORITY
A RESOLUTION APPROVING THE SECOND AMENDMENT TO THE 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 Inc. (the "Developer") is the owner of certain real
property with a physical address of 501 North Frontage Road West, Vail, CO 81658 (the
"Property");
WHEREAS, the Developer plans to redevelop the Property for rental employee
housing (the "Development");
(0, WHEREAS, the Town and the Developer are parties to a certain Development
Agreement, dated October 25, 2017 (the "Agreement"); and
WHEREAS, the Town and the Developer wish to modify the Agreement with regard
to the number of units which must be occupied by at least one Qualified Resident who is
employed within the Town's boundaries, but not employed by the Master Lessee (the
"Second Amendment to the Development Agreement").
NOW THEREFORE, BE IT RESOLVED BY THE VAIL LOCAL HOUSING
AUTHORITY THAT:
1. The Second Amendment to Development Agreement is hereby approved in
substantially the same form attached 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 s.s -,th day of June, 2018.
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_ Steve Lindstrom,
SEAL ;o` Vail Local Housing Authority Chairman
ocr-; Town of Vail, Colorado
Resolution No. 12, Seng`2 O-' ‘`'
ATTEST:
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Lynne Campbell
Town of Vail Housing Coordinator
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Resolution No. 12, Series of 2018