HomeMy WebLinkAbout1983-03-01 Support Documentation Town Council Work Sessiont
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1. Show he•,~~ you calculated the ir~.3xi~~ur~,,resale price for t;I;e unit.
2. Include a ce~:y of your .closing ;tai;r~i»r_nt,
3. Provide information on your escrol•~:account on the outstanding balance
on your bank account.
4. Fill out the enclosed fact ,sheet on your unit..
5. You must sho:~r the unit.
For the purchaser, the following information-will be needed. (•1ost of these
forms are available at the Con~•nunity Development offices:
1. Meet the qualified purchaser requirement. ~-~
_ 2. 1~1eet the resident requirement.
• 3. Can submit bid for the maximum resale price or .lo~~~er.
4. Include a copy of the latest inc~Ome tax return.
5. Fill out verification of employm`nt and other forms.
6. Complete residential loan application form.
7. Include state:::ent that this will the .primary occupancy.
S. Complete receipt and option contract.
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l;lcctri.city {(,:,ncr)
Trlcphc-.^~ {private line)
Tele, `lone (s:.•itchboard)
Cable Tt'
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Firewood (~st:"r,~J /Winter)
Swir.~-ning Pool *tainter.ance
Elevator °:e,i n tcnance
Lands care :~~intenance
Par~:ing :aintenance
Other l~fai.ntenance
Insurance on Building
Ins'ur<:ncc cn C~~teats
Legal i ~cceunti.ng
Resident `•'~r,as;er/Salaries
1•fa n a gc re n t Fe
Other:
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SIfETUTALS ~ < ~ ~ = 190NTHLY TC'TAL$ _~ ~~
YROP~,T\'. T:\XF,S ~%v2,~.7-7.;~~y ~..,,.,...,•l ' ~2~
Real : $ ~0 9.~• G `~ for 19 ~Z = r10ir"TIiLY TO•!'AL:~ /gyp, `~L '
Persc:nal: $ for -19 •- X10\T}1L~ TOTAL:
i\'AI1.:\BLF. \tt.: F1';:1\C]2v'(:: ~~.,{..cr.~:Y-.. ;.t,...c/ h~ -- ~: O ~'~~'~ - 1 ~nigt,t .Zr H~ j'or K
1C or $ at__'/. for years w/ =1.10\Till.1 TOTAL: $-__ t
'/. loan fcc. Qu::tcd by - (Principal + lntcrest:)
• --- -~
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E\1ST1f:C !~":Cl:`1R1~~\\C1:• Assu:r:l~/lo^: ~~~ A~surlrti(~tt Fce: y2 ~ ~ ~~ 4.. ~..~.~;~....~p .~'~"'~'-`~
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Bilancc $46s~~=J as of J-3/-k3 1'c:lrs rcmaininl;~'~;r~ ~'"~at k,~G '/. = Af0:~TliLl' $__37_~ _
r•~ TOTAL -~ ,•?r: ~3 ,; r
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Listed h~•• .Price Type_ ondo Furn? /~fa
Hoc: to shouloUtain keys: Bedroon ~ Baths_L_ Loft?~_
Total S
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°-"-E~T1~=-~•~ Rent Apt./Sq. Ft. Bdrms Baths
~~.atc'.~~.~r nar'•:ing _./ eight of 1st F.efusal? ~ Period
In'c4r.•r ;~~r~iny.
Elev:~t~~r
.-- APPLIA?~CGS L'.TILITIES
Coc^a~~~n 1 ~undrom:~t Stove/oven ,i Type of heat ~' cc . ...
F.itio Refrigerator ,i ~ ~_
Tti~pe of fuel
-Beac~~~d ccilin}s
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Earl ~.~ at:uir:lnt
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Fi rc ~l ice ~
l ~ Compactor !dater Dist.. t/~;; r ~.~.:_/c____
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Fire Dist. Win!/ _
$aun:+
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0ther_
Police Dist. iGt/
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Terms
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19 g0l,t-t+ct•en PIT1•;1N C};l''l}; i7l:i'}:, ,
a Co].oraclt, cos },:.nation
~~ j a le and Stat.rof
of the Couut)' of ~-.
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L Cr,Ir,r ado, of t•he fi-rst part, and ,
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~' 4:ICK
i~ CHARLES h(,y;ERT •
~~ 11S6, ~'ai-l, CO 81657
,
++husele•gal addressis P. 0, bOX
~~ Ea 1e and Statcpf Culurariu, of i}.t• ~ rand part:
• •~ of the Count)• of ~'
}' 1SIT~F,SSETH, That the said p:,rtc of the first part, for and in c•oncideration of t I:c sum of •
,; . << DoLLAxs,
~' Fifty Thousand and no f 100~~~~"''"
! to the said part)• of the first parl in hand paid h)• the said part)• of the second part, iL-e rr•cei,pt ~+'hereof is heretic •
r~ut;fes.sed and ackno~'lt•dged, has granted, bargained, snld and com•e)'r•d. and b)• tLesc• pre~~ nts dc,es grant, bargain,
~~ .ell• come}• and confirm, unto the said part)• of the second part, his heirs and assr};ns forc.•er, all the foliov,'tn>`
!, rh•scribed lot or parcel of 12nd, situate, 1)'in}; and being in the
i• t'uunt)• of Eagle and State of Colorado, to-wit:
ii Condominium Unit 5-G, PITKIN CREEK PARK PHASE I, according
to the C~~ndominium Piap recorded March 31, 1980 in Book 300
~t at page 925 and according to the Condominium Declaration for
(1 Pitkin Creek ^rark Condominiums recorded Parch 31, 19S0 in
~± Book 300 at pade_924•
I~ Subject to the terms, conditions, obligations and restrictions .as contained in
t
,;
said Condominium Declaration.
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a!soknn~+'n ac street and number 3931 Old Nightaay fi, Unit S-G
I sin •u?ar the horeditanx•nis and a(rpurten:uicec tLcretn hrl~•nging, ur in an)'+cise apper- ,
TIIGETI{F,R ~+'ith all and >_
tair;ing, and the recer~ion and reversiur.s, remainder and rtmaindcrc, rents, issues and hrr~fits thert•of; and all the
' ~! •~ •tt ri •ht• title, interest, claim and der.:and chat<oecer of the said part)• rtf the first j.:art, tither in law ur cyuit)•• of,
t e. t, e. (-
I`! in and tc, the ahc,ce bargained prr•mist•s, ••+'ith Lire hereditamcnts and :,pput'{enances.
11 TU }(:\\~E :1\11T1} H(}LIl the swirl premises ahnce lr;u•gaincd and desc•rihed, ++'ith the :, j,purt,•nanr•cs, un;n t}~,• caul
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parts of the sc•c•oncl jtart,_his heirs':;,nd asstgn~ fru'ccer. And the swirl part~• of the first tr±. fnr himself. his heirs,
j ` executors, and adminisU•ators, d~~t•s co~'enant, grant, bargain, and agroe tt, and ++•ith the said (,art}• of the sec•r,nd part.
~' his heirs and assigns, that at the time of the ens,•al.ing and delicerp of thc~c presents, he i~ well seized of t.hc pre rni~ca
abm•e conce}•ed, as of goad, sure, perfect, ahsn)ute and inrlcfeasiblr csl.ate of inhcritani•c, in 1:,.+, in fee simple, and has
!~ grant, bargain, sell an<1 eunve•}• the same in manner and form as
1t good ri~ht• full poi+'er and la~+'ful authoritt• to
t'
a{ur-maid, and that the same are free and clear frt,m all fur me•r and ether grants, bargains, sales, liens, taxes,
1? assessments and ent•umhrr+nc•e< <,{++'}'.atecer kind or- nature sueeer.
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ii see attached Exhibit A •
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! and 4he ahr,+'er) bargninod prr•n::st•s to tht• quu•t and p.•:+ronLle pr,s•~•ssir,n of tho said parts of the .eounr! part. his
belt < anti a<.ignc against all an,l o+'er}' }.r•r~un or p,•r~„rt~ l:,+c'(ull}• cl:unnng or to slain: th,• +chnle ~r an)' part thcr.•uf.
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! tht• maid part)• of the first part .}:all :,nd +cili 11 .a 1:}'..~\T A\li Ffl1:E;\~}•:}; ItE:FE:\U. Tii, .ittgular nt::nher sitali
~' irc!;n1t• t i,r plural, the plural th. `:t:~•ui:ir.:rnr! ih~_ u:•r n{:,n~' g,'nder she?? Le app:,i'a}•ie t•• :, 11 ~,•nders.
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2fi1 Hamilton Avenue, Palo Alto, Caii 'crnia 94301 (415) ~~8-~~7~1
ADDENDUM to the
ECONOMIC BENEFIT ANALYSIS
VAIL LIGNSHEAD
URBAN DESIGPJ GUIDE PLAPJ
Dated October 1982
Prepared for
Town of Vail, Colorado
January 1983
Larry Smith and Company, Ltd.
261 Hamilton Avenue
Palo Alto, California 94301
Addend~u~~ - 1
i
HEAL ESTATE CONSULTANTS MARKET AN.ILYSTS • Ui2[i.\iJ .'i:c_'pNOM1ST:; '~-
INT}l~l!~~1!;TION
Since the completion of the Economic Benefit Analysis Study for the Vail
Li.onsHead Improvement District in October 1982, the To~~n c;~f Vail City
Council decided to eliminate the west mall .entry bus shelter from the
major construction improvements to be ~.mdertaken as p1r~ of the Vail
LionsHead Improvement District. ..~ 1 consequence of ~~;s d_cision, -:
assessments of six projects/buildings, whose distance factors were cal-
culated base :+ on their proximity to the proposed bus s"Alter, must be
revised. The revisions are contained in this report ~nU the revised
assessment roll: The methodology discussed in the oriinal~report
remains unchanged. This report shoul.~ be viewed as an addendum to tf^.a-
Octobew 1982 .report since this report contains only the revisions with-
out a detailed discussion of the methodology. This a~lendum and the
revised assessment roll also reflects ownership changes and individual
unit size and use modifications which have occurred or have been iderai-
fied since the earlier report.
DISTANCE FACTOR CHANGES
! The attached revised Table 4 shows the revised distances and benefit
r
factors assuming the west mall entry bus shelter is eliminated. The
I revisions affect only six projects/buildings which were measured fro...
the bus shelter. These are: Vail Spa, The Mark Lodge, Enzian Lodge,
~ Enzian Condos - Building A, Enzian Condos - Building B, and Vail-Glo.
t
fihe revised distances were measured from the nearest point of the mall
improvements to the approximate center of each building.
SIZE AND USE REVISIONS
The attached revised Table 1 and Table 4 show the distribution of
assessed areas by .land use in square feet. The squar•~ rootage of four
projects have been revised. These include The Mark Lo:~ae and Lodge at
! Adil~~n~l~mi - 2
I
~-.- _ _.... _. ~ 1 &
,,; :.. s,:a a a COMj~ ~.. .
~~.~.__
~.
Lionshead II, in each of which rra sire of one resid-ntial unit has ~-_-:~:
revised based upon new information supplied by the As'sessor's office.
i
The•other change entailed a shirt of a number of residential units to
. Lions Square II which were incorrectly included as beir~~ in Lions Sq!:~--= •
I in the October 1982 Study. In addition, a number or c:,r~mon area
~apaces which should lot have b=en assessed were r-emorE~' Y !
a , rom the Lip,;::
Square I assessment list.
i
EY-FACTORS Af•,D TGTAL DISTRICT ASSESSi~'E~1T
i
I
i1
Based on the revised distance factors and square footae, the sum of ~~~
Y-Factors for all assessed units has been recalculated to 673,836.003.
So as not to increase any unit assessment, the total district assess~:_~~~
has been reduced proportionally from $1 million to $950,13.94.
• i
ASSESSP~IENT REUISIONS
A new. assessment roll has been compiled which reflects the above noc
changes. A summary of these assessments by project and type of use ._
shown in attached revised Table 7. -
Aiid?ncilllil -
Revised
TABLE 1
VAIL LIONSHEAD IMPROVEP~1.:rdT D[STRICT
DISTRIBUT IOFi {~~ i;.'~i'd~=.., ., I;~ ;",REAS
BY LAND USE TY;~'.
I ~ S0~'ARE FQGi-r;~;,:~a
~:
-
: Residentia..~
.
...
~_~ Project Acco~,,To~1t : •: ~~ Commer~ i a i Tota 1
01. Vail Spa 96,715 3,357.20 100,072.20
02 The Mark 41;144 16,234.60 57,378.00
~~ Enzian Lodge 25,724 6,741.x.;0 32,465.00
r;,, Enzian - Buildinq A 8,736 - 8,736.00
~:~ Enzian - Building B $,736 - 8,736.00
G~ Vail Glo 15,792 - 15,792.00
G% . ~ Concert Hall Plaza - 7,967.28 7,967.28
C~~ Montaneros ~ 46.,692 3,,204.00 49,896.00
00 Lion Square North 24;539 - 24,539.00
i'0 Lion Square I 32,924 - .32,924.00
11 Lion Square II 19,182 - - 19,182.00
12 Lion Square III 29;580_ - 29,580.00
13 Antlers 50,323. - 50,3.23.00
14. Landmark 32,416 11,790.00 44,206.00
15 Landmark Townhouses 25.,060 - 25,060.00
16 Vantage Point I 40,198 -. 40,198.00
17 Uantage Point II 25,678 = 25,678.00
18 Sunbird 26,268 8,732.C0 35,000.06
19 Ticket Booth - 751.C0 751.00
. 20 ~ Gondola - Terminal - 65,978.00 65,978.00
21. Lift House 20,820 10,122.00 30,942.00
2Z Lions Pride - 5,034.60 5,034.00
23 LionsHead Arcade 11,998 6,768.00 18,766.00
24 LionsHead Center 28,776 12,873.00 41,649.00
25 Vail 21 17,892 12,802.00 30,694.00
26 Treetops - Building A 17,420 - 17,420.00
27 Treetops - Building B 19,246 - 19,246.00
23 Uail LionsHead Condos 26,716 - 26,716.00
~9 Lodge at LionsHead.II 24,158 2,021.00 26,179.00
00 Lodge at LionsHead III 18,909 - 18,909.00
vt First Westwind 35,267- 35,267.00
Auxiliary Building - 237.5.0 237.50
TOTAL 770,909 174,611.98 945,520.98
(5)
Rev i;~~~l
TABU 4
UALL LIONSHEAD iifi~~~~'V`~M~="~+~T DISTRICT
DISTANCE nct;'-r- ~ . ~;^~.!;TORS
rv~~
. ;.~. Pro.ject
G1 Vail Spa
~~'? The Mark
~'3 Enzian Lodge
04 Enzian - Building A
~~:; Enzian - Building B
~'~~ Vai 1 GIo
t.? Concert Hall Plaza
G8 Montaneros
C? Lion Square North
10 Lion Square I
11 Lion Square II
'% Lion Square iII
13 Antlers
`'' Landmark
?5 Landmark Townhouses
?5 Uantage Point I
?7 Vantage Point II
?8 Sunbird
19 Ticket Booth
20 Gondola - Terminal
21 Lift House
22 Lions. Pride
23 LionsHead Arcade
24 LionsHead Center.
25 Vail 21
26 Treetops - Building A
27 Treetops - Building B
28 Vail LionsHead Condos
29 ~ Lodge at LionsHead II
~0 Lodge at LionsHead III
?1 First Westwind
2 Auxiliary Building
Dist~~r~c~ prom Major
Improv~=::~~•^t'; (In Feet}
~~;2
~~2
4 4
390
425-
306
0
a
180
1
30U
276
456
0
108
258
228
0
0
0
0
0
0
0
0
108
i50
270
408
X88
96
162
r~i;r:;nc _ Benefit
-.. ':o r
r.~~110
0.318
0.1388
0.1936
0.1556
0.3078
1. ~~000
1.0000
0.5~^86
. 0.5030
0.3174
0.3576
0.1286
1.ooao
0.7188
0.3898
0.4472
1..0000
1.0000
1.000
1.0000
1.aooo
1.0000
1.0000
1.0000
0.7188
0.6170
0.3682
0.1738
0.0500
0.7490
0.5892
(14)
Revived
TABLE 6
VAII. L10fISHEAD If~PP.~,`i~i~^tdT DISTP,ICT
UTSTiZIi;UTiOi! OE ~~':~;._?~iJIP AREAS
BY LAP~O iJSr T`!'~E
Jfvi~.GJUSTED ~G. ".~:L F70T{~GE .
`~,J,,. Project R r' C2 _C3 Total
G~ Vdil Spa 96,715 3,357.2 - - 100,072.20
~'~% The Mark 41,144 16.,234.0 - - 57,378.00
00
465
- 32
`"
~~: J Enzian Lodge 25,724 6,741.0_ - .
;
00
736
- 8
;.
i;5
tnzian - Building A
Enzian - Building 8
8,736
8,736
- -
- -
.
,
- 8,736.00
~:. Vail Glo 15,792. - 15,792.00
~~7 Concert Hall Plaza - 4;864..0 3,103..28 - 7,967.28
Gc~ f~ontaneros 46,692 - - 3,204 49,896.00
00
539
- 24
^'
' Lion Square tJorth
i 24,539
924
32 - -
- - .
,
~ 32,924.00
~:;
"~ Lion Square
Lion Square II ,
19,182 - - - 19,182.00
`" Lion Square III 29,580 - - - 29,580.00
00
323
- 50
1~
"+ Antlers
Landmark 50,232
32,416 - -
- - .
,
11,790 44,206.00
15 Landmark Townhouses 25,060 - - - 25,060.00
00
198
- 40
"~
':7 Vantage Point I ~
Vantage Point II 40,198
25,678 - -
- - .
,
- 25,678.00
i8 Sunbird 26,268 - - 8,732 35,000.00
19
20 Ticket Booth
Gondola - Terminal -
-~ - -
32,201.0 - 751 751.00
33,777 65,978.00
2i Lift House 20,820 - - 10,122 30,942.00
22 Lions Pride - 3,356.0 - 1,678 5,034.OG
23 LionsHead Arcade 11,998 1,714.0 - 5,054 18,766.00
2Y LionsHead Center 28,776 - - 12,873 41,649.00
%5 Vail 21 17,892 1,680.0 9,892.00 1,230 30,694.00
`'6 .
Treetops - Building A 17,420 - - - 17,420.00
~7 Treetops - Building B 19,246 - - - 19,246.00
00
716
- 26
''~~
~a Vail LionsHead Condos
Lodge at LionsHead II 26,716
24,158 - -
2,021.0 - .
,
- 26,179.00
~~~~! Lodge at LionsHead III - 18,909 - - - 18,909.00
~' First Westwind 35,267 - - - 35,267.00
~2 Auxiliary Building - 237.5 - - 237..50
TOTAL 770,909 72,405.7 12,995.28 89.2 11 945,520.98
(t7)
Revised
TABLE "7.
VAIL LIONSHEF;D IMFP,O!/E"":~~lT DISTRICT
PROJECT ASS~S5'~1EtvT BY USE ^OR ~1 i-1ii_!_`.:`! DISTRICT .~;:>~5~"r_PiT*
GRAND TOTAL FOR BOTH USES X956,413.92
~. ~ r:
'.. ~.:
"~~. Pro.ject
`i` Vai 1 Spa
;;2 The P~lark
03 Enzian Lodge
~:~<~ Enzian - Building A
r;~ Enzian - Building B
0~ Vai 1 Glo .
~":? .Concert HaII Plaza
C~"~ ~~ontaneros .
::-'? Lion Square North
ii.- Lion Square I
11 Lion Square II
12 Lion Square III
13 Antlers
i~ Landmark
15 Landmark Tawrhouses
15 Van"cage Pci nt I
.7 Vantage Paint II
1~ Sunbird
19 Ticket Booth
20 Gondola - Terminal
21 Lift House
22 Lions Pride
23• LionsHead Arcade
24 LionsHead Center
25 Vail 21
20 Treetops - Building A
27 Treetops - Building B
:=.8 Vai 1 LionsHead Condos
?? Lodge at LionsHead II
~~~ Lodge at LionsHead II
31 First Westwind
~:' Auxiliary Building
TOTAL
`'..amp sum if paid in one year; however, as Explained in the text, payment.
is typically financed over 10 years (see Table 8).
Res ident i --
1,510.06 $ 0.•:;%
4,775.94 0.12
5,067.79 0.20
2,400.54 0.27
1,929.35 0.22
6,899.18 0.
66;272.68 i.=2
19,.107.55 0.78
28,178.65 0.°.0
8,641.57 0.45
15,013.76 0.5i
.9,185.21 0.'::Q
46,009.93 i.42
25,567.08 :.~~~
22,240.07 0.55
16,298.73 0.~3
37,283.70 1.42
29,551.06 1.42
17,029.46 1.42
40,843.40 1.42
25,395.12 1.42
17,772.51 1.02
16,854.57 0.88
13,962.04 0.52
5,959.42 0.25
1,341.92 C.07
37,492.28 1.06
~~5~
Car'T~er~: i 31
$ ;:x.52 $ 0.02
" "5.03
C,J:. 0.15
1,660.03 .0.25
16,888.42 2.12
11,359.05 3.55
41,835.55 3.55
30,984.55 3.55
2,664.84 3.55
176,984.9+ 2.68
35,916.8'i 3.55
11,908.41 2.37
20,974.55 3.10
45,678.46 3.55
33,676.73 2.63
623.18 0.31
243.27 1.05
(19)