HomeMy WebLinkAbout1990-06-05 Support Documentation Town Council Work Session~~
VAIL TOWN COUNCIL
WORK SESSION
TUESDAY, JUNE 5, 1990
2:00 P.M.
AGENDA
1. Planning and Environmental Commission Report
2. Design Review Board Report
3. Report on Television Translator Issue
4. Information Update
5. Other
VAIL TOWN COUNCIL
WORK SESSION
TUESDAY, JUNE 5, 1990
2:00 P.M.
EXPANDED AGENDA
2:00 1. Planning and Environmental Commission Report
Kristan Pritz
2:05 2. Design Review Board Report
Mike Mollica
Shelly Mello
2:10 3. Report on Television Translator Issue
Rob Levine
2:25 4. Information Update
Ron Phillips
2:30 5. Other
PLANNING AND ENVIRONMENTAL COMMISSION
JUNE 4, 1990
11:30 Site Visits
1:00 Review Air Quality survey questions.
1:30 A work session for a major subdivision, a request for a
variance to the maximum height for retaining walls, and
a request for a variance to the maximum percent grade
for a road, on a parcel commonly referred to as
Spraddle Creek, an approximate 40 acre parcel located
north and east of the Main Vail I-70 interchange and
east of the Spraddle Creek livery.
3:00 Public Hearing
SITE VISITS
1. Approval of minutes from May 14, 1990
meeting.
2. Appeal of a staff decision relating to the
number of woodburning fireplaces at Lots 1 &
2, Block 2, Lionsridge Filing 4, 1175
Sandstone Drive.
Applicant: Sidney Schultz for Todger
Anderson
- 3. A request to amend Section 18.12.030 of the
Vail Municipal Code to provide for Bed and
Breakfast operations in the Two Family
Residential(R) District.
Applicant: Town of Vail
TABLED 4. A request for an amendment to an existing
conditional use permit in order to add 868
sq. ft. to the daycare facility at 149 N.
Frontage Road, an unplatted site commonly
referred to as the Mountain Bell site north
of I-70 and west of the Main Vail I-70
interchange.
Applicant: ABC School.
1 5. A request for a side and front setback
variance in order to construct a garage on
Lot 7, Block 3, Vail Village 9th Filing, 898
Red Sandstone Circle.
Applicant: Paul Testwuide
TABLED 6. A request for a variance from the minimum lot
size on a parcel of land described as that
unplatted plat of the southeast 1/4 of the
southeast 1/4 of Section 1, Township 5 south,
Range 81 west, of the 6th Principal Meridian,
lying northerly of the Lion's Ridge Loop as
shown of the recorded plat of the Lion's
Ridge Subdivision recorded July 25, 1969, in
case 2, Drawer L, and Book 215, at page 649.
Applicant: A. L. Shapiro & Co., A Colorado
Nominee General Partnership.
2 7. A request for an exterior alteration and a
landscape variance in order to construct an
addition to the Bell Tower Building at 201
Gore Creek Drive, Part of Tract A, Block 58
Vail Village 1st Filing.
Applicant: Hermann Staufer - Lancelot
Restaurant
DESIGN REVIEW BOARD AGENDA
MAY 30, 1990
3:00 p.m.
SITE VISITS
1:30 P.M.
5 1. Sitzmark Lodge - Balcony Paint BR
83 East Gore Creek Drive
MOTION: Jamie M. SECOND: George L. VOTE: 3-0
Approved with recommendations.
2. Gramm - Approval of Building Colors MM
L 9, Blk 3, Vail Rowhouses/303 Gore Creek Dr.
MOTION: Jamie M. SECOND: George L. VOTE: 2-0-1
Approved as submitted. Ned Gwathmey abstained.
2 3. Potato Patch Townhomes - 10 Townhomes Units SM
Lot 6, Block 2, Vail Potato Patch.
MOTION: SECOND: VOTE:
Conceptual Approval.
4 4. Doran - New Primary/Secondary Residence
L 3, Blk 1, V. V. 3rd/396 Forest Road
MOTION: Jamie M. SECOND: George L.
SM
VOTE: 3-0
Approved.
t
6 5. Caulkins - New Duplex SM
L 4, Blk 3, V. V. 11th/3010 Booth Creek Drive
MOTION: George L. SECOND: Jamie M. VOTE: 3-0
Recommendation: Lighter colors, break symmetry.
Condition of approval: All willows not in
excavation area only.
7 6. Ruder - New Duplex SM
L 18, Bighorn 4th/4551 Streamside Circle
MOTION: Jamie M. SECOND: George L. VOTE: 3-0
Significant site constraints on lot allow separation
of units. Approved.
8 7. Arthur - New Single Family Residence MM
L lA, Blk 1, Bighorn 5th/5027 Main Gore Drive
MOTION: Jamie M. SECOND: George L. VOTE: 3-0
Approved as submitted.
3 8. Cerisola - New Single Family Residence MM
L 29, Vail Potato Patch/805 Potato Patch Drive
MOTION: George L. SECOND: Jamie M. VOTE: 3-0
Approved as conceptual only. (Conceptual Only)
1 9. Frampton - Addition MM
L 3, Blk 3, V.V. 9th/893 Red Sandstone Circle
MOTION: George L. SECOND: Jamie M. VOTE: 3-0
Approved as submitted.
MEMBERS PRESENT:
George Lamb
Jamie McCluskie
Ned Gwathmey
STAFF APPROVALS:
MEMBERS ABSENT•
Ludwig Kurz (PEC)
Pat Herrington
Chocolate Factory - Paint door & window the match awning.
(Plymouth Red) 304 Bridge Street.
McDonald Restaurant - Pavers to replace wooden deck.
Hirsh - Enclose loft, 250 addition. Sandstone Park #H-C4.
Wilhelm - Interior 250 addition. Lionshead Lodge Unit #160.
VAIL TOWN COUNCIL
REGULAR MEETING
TUESDAY, JUNE 5, 1990
7:30 p.m.
AGENDA
1. Approval of Minutes of May 1 and 15, 1990 Meetings
2. CITIZEN PARTICIPATION
3. Resolution No. 13, Series of 1990, a resolution thanking and acknowledging
Herb and Nichole Wertheim for their challenge grant for the Vail Cultural
Arts Center.
4. Resolution No. 14, Series of 1990, a resolution setting forth the intention
of the Town Council of the Town of Vail to make certain land available for
the development and construction of a Vail Cultural Arts Center.
5. Action on Contract for Vail das Schone Land Sale
6. Appointment to the Local Liquor Licensing Authority Board
7. Presentation of the 1989 Audited Financial Statements
8. Adjournment
VAIL TOWN COUNCIL
REGULAR MEETING
TUESDAY, JUNE 5, 1990
7:30 p.m.
EXPANDED AGENDA
7:30 1. Approval of Minutes of May 1 and 15, 1990 Meetings
7:35 2. CITIZEN PARTICIPATION
7:50 3. Resolution No. 13, Series of 1990, thanking and
Ron Phillips acknowledging Herb and Nichole Wertheim for their challenge
grant.
Action Requested of Council: Approve/deny Resolution No.
13, Series of 1990.
Background Rationale: This is a resolution thanking the
Wertheims for the 1 million donation for a cultural arts
center.
Staff Recommendation: Approve Resolution No. 13, Series of
1990.
8:00 4. Resolution No. 14, Series of 1990, regarding the TOV's
Ron Phillips intent to make land available for the cultural arts center.
Action Requested of Council: Approve/deny Resolution No.
14, Series of 1990.
Background Rationale: This is a resolution. expressing the
Town's intention to donate land in Lionshead for
construction of a cultural arts center.
Staff Recommendation: Approve Resolution No. 14, Series of
1990.
8:10 5. Action on Contract for Vail das Schone Land Sale
Ron Phillips
Larry Eskwith Action Requested of Council: Approve/deny the contract to
purchase Lots 2 and 4, Block H, Vail das Schone Filing 2,
and contract to purchase Lots 1 and 3, Block H, Vail das
Schone Filing 2.
Background Rationale: The Council has expressed an interest
in purchasing this real estate for park/open space.
Staff Recommendation: None.
8:30 6. Appointment to the Local Liquor Licensing Authority Board
Pam Brandmeyer
Action Requested of Council: Appoint one applicant to the
Liquor Authority.
Background Rationale: At this time, there are three
applicants for the one vacancy: Mike Mathias, John
Milligan, and Tim Savage. They have all been interviewed at
the May 15 Work Session.
8:40 7. Presentation of the 1989 Audited Financial Statements
Steve Thompson
Jerry McMahan Action Requested of Council: Review the financial
statements and ask any questions you may have.
9:00 8. Adjournment
MINUTES
VAIL TOWN COUNCIL MEETING
MAY 1, 1990
7:30 P.M.
A regular meeting of the Uail Town Council was held on Tuesday, May 1, 1990, at 7:30
p.m., in the Council Chambers of the Vail Municipal Building.
MEMBERS PRESENT:
Kent Rose, Mayor
Lynn Fritzlen
Jim Gibson
Merv Lapin
Robert Levine
Peggy Osterfoss
MEMBERS ABSENT:
TOWN OFFICIALS PRESENT:
Tom Steinberg, Mayor Pro Tem
Charlie Wick, Assistant Town Manager
Larry Eskwith, Town Attorney
Pam Brandmeyer, Town Clerk
The first item on the agenda was approval of minutes of the April 3 and 17, 1990,
meetings. Rob Levine moved to approve the minutes as presented, with a second
coming from Lynn Fritzlen A vote was taken and the vote passed unanimously 5-0.
At this point in the meeting Merv Lapin was absent.
Item number two was Citizen Participation. There being no Citizen Participation,
the council moved to item number three.
Item number three was an appeal of the Planning and Environmental Commission
decisions regarding the redevelopment of the Red Lion building (Conditional use
permit, Stream setback variance, Site coverage variance, and an Exterior
alteration). Kristan Pritz initiated the discussion by calling the Council's
attention to an April 27, 1990, memo from Community Development in regard to the
appeal of the Red Lion redevelopment approvals and Ordinance No. 16, Series of 1990.
She stated five separate motions eventually would be made to deal with various
considerations before the council. To be considered prior to the reading of
Ordinance 16, 1990, were the following:
1. A site coverage variance to permit a .25 percent increase in this
property's site coverage. This request was approved by a Planning
Commission 6-1 vote. A motion to uphold or overturn this request would be
necessary.
2. A stream setback variance to allow a two foot encroachment into the
required thirty foot stream setback. This request was approved by a 6-1
Planning Commission vote. A motion to uphold or overturn this request
would be necessary.
3. A conditional use permit for an outdoor dining deck on the east side of the
Red Lion bu ilding. This request was approved by a 7-0 Planning Commission
vote. A motion to uphold or overturn this request would be necessary.
4. An exterior alteration to add enclosed floor area to the Red Lion
building. This request was approved by a 5-2 Planning Commission vote,
with 11 conditions as outlined in the April 17, 1990, memorandum to the
Town Council. The council asked the applicant to agree to a 12th condition
at the May 1st meeting. The 12th condition to be added to this approval
would require the owner to pay an incremental increase in parking fees that
may be established within two years from the time a building permit is
issued for this project. A motion to uphold or overturn this request would
be necessary.
Merv Lapin arrived at 7:55 P.M.
Kristan further specified that if the Planning Commission's approval of these four
requests were to be upheld by the Town Council, the Council should condition their
approval upon the passage of Ordinance No. 16, Series of 1990, a modification of a
View Corridor #1. Kristan stated that the PEC recommended approval of the View
Corridor amendment by a vote of 6-1 in favor, with two conditions. She further
stated the Ordinance was approved by a 4-2 Council vote at the first reading in
April, and a motion to approve or deny Ordinance No. 16, Series of 1990, with two
recommended conditions as outlined in the April 17, 1990, memorandum, would be
requested. Kristan advised Council to focus on the appeal of the entire project in
consideration of each of the variances and the conditional use permit that were
being requested in order to complete the project.
The first area to be discussed was the exterior alteration review criteria.
Included in this was the discussion of the urban design guide plan and urban design
considerations which included the following: a: pedestriazation b: vehicular
penetration c: streetscape framework d: street enclosure e: street edge f:
building height g: views and focal point h: service and delivery is sun/shade j:
architectural and landscape consideration. All details were presented as described
in the March 19th, 1990, memorandum from Community Development to the Planning and
Environmental Commission. Information in regard to the Stream setback variance to
allow a two foot encroachment into the required thirty foot stream setback was
discussed next, with reference to the March 19, 1990, memorandum. Review criteria
for each variance and the conditional use permit were presented for Council
consideration.
The third item to be considered was a conditional use permit for an outdoor dining
deck on the east side of the Red Lion building. The fourth item was a site coverage
variance to allow for an entry on the east side of the Red Lion. Kristan explained
that at the PEC's regular meeting, April 9, 1990, approvals were given on those
items. PEC conditions of approval per the April 17th staff memo for the project
included: 1. As a part of this redevelopment, the applicants agree to point and
repair the brick wall along Bridge Street and in the area of the small Plaza to the
northwest corner of the site. Improvements to this Plaza may also include upgrading
existing benches, planters, newspaper box and trash receptacle locations and
landscaping. 2. The streetscape improvements shown along Hanson Ranch Road are
considered conceptual and the applicants shall agree to work with the Staff and
Winston & Associates in refining this design relative to the Vail Village
streetscape Plan. This condition shall also apply to the Plaza area referenced in
condition #1 and the landscape improvements proposed adjacent to Mill Creek. 3.
All windows located on stucco wall plains shall be recessed a minimum of three
inches. 4. State-of-the-art venting shall be used to reduce negative impact
(smell, smoke, etc.) emanating from the site. 5. The owners/developers of the
residential development on this site shall agree to permanently restrict gross
residential floor area (GRFA), building height and density on this site to what is
permitted by this approval. The Town of Vail shall be a party to this restriction
and the restriction shall be recorded with the Clerk and Recorder's Office in Eagle
County. These restrictions on GRFA density and height must be acceptable to the
Town Attorney as submitted by the owner and approved before recording. 6. Any
trees damaged or killed within two years of the completion of this project shall be
replaced with similar size and type tree. 7. The Red Lion logo shall be retained
as a part of this redevelopment in approximately the same size and location. 8.
The developers/owners will be encouraged to participate in developing solutions to
traffic, loading, and delivery problems in Vail Village. 9. The Rekord (or other
type of window system installed) to the Red Lion Restaurant along Bridge Street,
shall remain totally opened during business hours between June 15 and September 15
of each year. These windows may be opened at any other time during the year at the
discretion of the restaurant management. 10. The applicant shall complete
stream-bank stabilization work on both sides of Mill Creek over the entire length of
the Red Lion property. The final design and implementation of these improvements
shall be subject to review by the Staff and the Design Review Board. 11. The
owners shall agree to participate in, and not remonstrate against, a Special
Improvement District, if and when one is formed in the Village. 12. The
owners/developers agree to pay any incremental increase in parking fees that may be
established within two years from the time a building permit is issued for this
project. (This condition was accepted by the applicant's representative, Jay
Peterson, at the previous Town Council evening meeting on April 17, 1990.) 13.
Approval of this exterior alteration, variances, and conditional use are contingent
upon the Council giving final approval to Ordinance No. 16, Series of 1990.
Kristan explained that the PEC also recommended approval of the View Corridor
Ordinance with the following conditions:
1. That the photo depicting View Corridor No. 1 be modified to reflect the new
Red Lion Building at a time when the expansion is completed. The
Commission preferred this alternative as opposed to modifying the line that
delineates the View Corridor.
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2. That the specific reasons just'<Eng this request be included in the
preamble of the ordinance autho~°~~:.ing this amendment.
At this point in the meeting discussion turned to Item five which was Ordinance No.
16, Series of 1990, second reading, an Ordinance amending Ordinance No. 13, Series
of 1983, in order to modify View Corridor No. 1; and setting forth details in
regard thereto. Mayor Rose read the title in full. Kristan stated the current
remodel falls within the height allowed in the zoning code and that Jeff Winston had
stated that in coming up with the original View Corridors, the consideration was to
preserve the visual connection between the parking structure and the mountain and to
maintain the views of the mountain, the Clocktower, and the Rucksack Tower. It was
Jeff Winston's feeling that the line could have been drawn at the Golden Peak House
Ridge and the objective of this corridor would have been met. The proposed Red Lion
Ridge would not diminish any view of Vail Mountain. In regard to the height of the
building, the applicants had provided a cross section of the Village from the
Parking Structure to the Golden Peak House. This was done to demonstrate whether
any other properties would encroach into the View Corridor, if they were redeveloped
within the forty-three foot height limit. Larry Eskwith discussed whether the
nonconforming height of the Golden Peak House was Tegal and referenced 18.64.090
under the zoning code, restorations. Also, Larry pointed out a section on
structures and site improvements and stated that a nonconforming use cannot become
more nonconforming through a remodel. However, the Golden Peak House could be built
back to its existing height so long as the area of the roof that was nonconforming
was not increased in area or height through a remodel. He stated that this decision
regarding the Red Lion would not create a problem.
Kent Rose stated he believed the amendment to the view corridor did not go against
the intent of the ordinance or the purpose of this specific view corridor. Rob
Levine questioned Item No. 4 and the state-of-the-art venting on the roof and
received an explanation about the stacked chimney arrangement. Jay Peterson,
representing the applicants, Frankie and. Oscar Tang, presented additional
information from individuals within the community. Jim Morter, acting as architect
for the project and Dan Corcoran, field engineer, spoke on behalf of the project,
with Dan Corcoran stating that as a PEC member at the time view corridors were first
discussed in the Town of Vail, he had discussed the process used in designations,
their history, and their intent. His opinion was that the intent of the view
corridor was being met. Further discussion from the audience included Ella Knox and
Gordon 8rittan, who spoke out against the. granting of these variances, the
conditional use permit and the change or the modification in the view corridor
ordinance. Speaking for the project were Oscar Tang, Diana Donovan and Jack Curtin,
representing Mrs. Cortlandt Hill.
At this time, Merv Lapin moved to uphold the Planning Commission decision to allow
the exterior alteration based on the staff memorandum dated April 17 , 1990, and
incorporating conditions 1 through 13 as previously stated, in his motion, with
amended conditions as follows:
1. Amend condition 5 to say this agreement shall be submitted by the owner and
approved by the Town Attorney before a building permit is released.
2. Amend condition # 8 to state if a central trash area is built in the
Village, the owners would agree to use the trash facility and "will be
encouraged" changed to "will participate in."
3. Conditions # 12 and 13,as previously stated on page 2 of these minutes, are
included.
4. Condition 14 was added to state, "The proposed addition of the enclosed
deck along Bridge Street will have a glass roof and be as transparent as
possible.
This motion was seconded by Peg Osterfoss, a vote was taken, and the motion passed
unanimously, 6-0 in favor.
In regard to the st?.r,a~ setback variance to allow a 2 foot encroachment into the
required 30 foot .~,s~am setback, Peggy Osterfoss moved to grant this variance to
uphold the Plann~r~rc~ Commission recommendation to approve, based on the fact this was
not granting special privilege, was not detrimental to the health, safety and
welfare of the community, and there were extraordinary circumstances in that the Red
Lion building is already located within the stream tract setback. Jim Gibson
seconded this motion. A vote was taken and the motion passed unanimously, 6-0.
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The third item to be considered was the site coverage variance on the east side of
the building. Rob Levine moved to uphold the Planning Commission recommendation
based on the April 17, 1990, memo and based on findings that this did not grant
special privilege, it was not detrimental or injurious to the public, and there were
extraordinary circumstances that would warrant the granting of this motion. Peggy
Osterfoss seconded this motion and the motion passed 5 to 1, with Merv Lapin voting
against that motion.
The last item to be discussed was the conditional use permit for an outdoor patio
to the building in Vail Village. Peggy Osterfoss moved to approve the conditional
use permit, stating all criteria in the staff memo of April 17, 1990, were met.
Merv Lapin seconded this motion. A vote was taken and the motion passed
unanimously, 6-0.
At this time, Merv Lapin moved to place a further condition on each of the variances
and conditional use permit votes that had just been taken, stating that passage of
each of these were conditional on passage of Ordinance 16, 1990. Peggy Osterfoss
seconded this motion. A vote taken and the motion passed unanimously, 6-0.
Item #4 on the Council agenda was Ordinance #16, Series of 1990, a second reading
on the ordinance amending View Corridor #1. Peggy Osterfoss moved to pass this
ordinance on second reading, with Rob Levine seconding that motion. Peggy stated
the intent of the view corridor would be kept intact by modifying View Corridor #1,
and adding, there is a provision in the Ordinance for making minor changes to the
view corridor and that the change was not specifically for this project. A vote was
taken and the motion passed 4-2, with Merv Lapin and Jim Gibson voting against that
motion. The means for amending the ridge line is stipulated in Ordinance No. 16,
Series of 1990, Section 1.
Given the late hour, a 10-minute break was taken.
The next item on the agenda was Ordinance #17, Series of 1990, first reading, an
ordinance repealing and reenacting Ordinance #32, Series of 1987, to provide changes
to Special Development District #16, that concern a reduction of the number of units
permitted, adjusting the gross residential floor area per unit, employee dwelling
units and architectural guidelines, and setting forth details in regard thereto.
Mayor Rose read the title in full. Mike Mollica handled the presentation on behalf
of the staff. He stated the Planning Commission on April 9, 1990, had unanimously
recommended approval of the amendment to SDD #16 and had unanimously approved the
preliminary plan for the Elk Meadows Subdivision. Both were approved by vote 6-0.
The applicant's requests were as follows:
1. The current proposal is for a subdivision of the 3.6 acre parcel into five
building sites for envelopes. The envelopes would range in size from 3,397
square feet to 6,141 square feet and each envelope would be allowed one
single family dwelling plus one employee restricted rental unit as defined
in Section V,B,2 of the April 9th memo from Community Development Planning
Commission. The remainder of the site would consist of 25,700 square feet
for roadway and parking and 2.5 acres to be dedicated as open space.
2. The total gross residential floor area (GRFA) designated for Phase III in
The Ualley is 16,000 square feet. This would allow each dwelling unit
within the project a maximum of 3200 square feet of GRFA.
3. Access to Lots 1 through 4 would be via a private 22 foot wide common
access drive off of Lion's Ridge Loop Road. This road is currently roughed
in place. Access to lot 5 would be from an individual driveway cut from
Lion's Ridge Loop Road. The individual driveway cut would minimize the
amount of asphalt paving in the open meadow.
Mike went on to discuss the background for this particular project as well as an
evaluation of the criteria for a major subdivision. He discussed Special
Development District review criteria and included the following items:
a. Reasons for an SDD zoning.
b. Design standards which include:
1. Design compatibility and sensitivity to the immediate environment,
neighborhood and adjacent properties relative to architectural design
scale, building heights, buffer zones, identity, character, visual
integrity, and orientation.
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T
2. Uses, activity, and density, which provide a compatible, efficient,
and workable relationship with surrounding uses and activity.
3. Compliance with parking and loading requirements as outlined in
Chapter 18.52.
4. Conformity with applicable elements of the Uail Comprehensive Plan
Town Policies and Urban Design Plans. Specifically, he stated the
Land Use Plan identifies this parcel as one which is suitable for
medium density residential uses, allowing from 3 to 14 dwelling units
per buildable acre.
5. Identification and mitigation of natural and/or geologic hazards that
affect the property on which this Special Development District is
proposed, further stating that the site is located within a high
severity rock fall zone and specifying the mitigation methods to be
used.
6. Site plan, building design and location, and open space provisions
designed to produce a functional development, responsive and sensitive
to natural features, vegetation and overall aesthetic quality of the
community.
7. A circulation system designed for both vehicles and pedestrians
addressing on and off site traffic .circulation.
8. Functional and aesthetic landscaping and open space in order to
optimize and preserve natural features, recreation, views, and
functions.
9. Phasing plan or subdivision plan that will maintain a workable,
functional and efficient relationship throughout the development of
the Special Development District.
He next compared the proposed SDD to underlying residential cluster zone districts
and went on to state that the staff recommendation was for approval of the
preliminary plan of a major subdivision and the revisions to SDD #16 for Elk
Meadows. The staff recommendation for approval of this preliminary plan for the
major subdivision includes the following conditions:
1. The development of each building envelope will comply with the rockfall
mitigation reports prepared by Nicholas Lampires, project geologist and
Donald G. Pettygrove, P.E., project manager with Banner Associates, Inc.
Such reports are dated February 23, 1987, February 25, 1987, June 12, 1987,
June 15, 1987, Juiy 22, 1987, and March 12, 1990, and will be kept on file
in the Town's Community Development Offices. Each individual lot owner
will be responsible for completing the hazard mitigation for their lot per
the above-named reports. This restriction shall be noted on the final
plat.
2. The staff recommendation for approval of the major amendment to SDD #16
included the following conditions:
a. That approval of this major amendment to SDD #16 be contingent upon
PEC approval of the final plat for the subdivision, and
b. That the developer construct a minimum of one (1) employee dwelling
unit and that said employee dwelling unit be a part of either the
first or second building permit for the project. All employee
dwelling units shall meet the criteria listed in Sections V,B,2 of
this memo. No portion of the building may overlap the building
envelope.
Mike further stated prior to the recordation of the final plat, a written agreement
between the Town and the subdivider will be required in order to guarantee the
construction and maintenance of the proposed improvements. This agreement shall be
in accordance with Section 17.16.250 of the Town Subdivision Regulations, and
following discussion it was decided a letter of credit would suffice. It was also
noted that in respect to SDD approvals the applicant must begin construction of the
Special Development District within three (3) years from the time of the project's
final approval, according to Section 18.40.120 of the Town of Vail Zoning Code.
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At this time, Rob Levine moved to approve Ordinance #17, Series of 1990, and Lynn
Fritzlen seconded that motion. A vote was taken and the vote was 5-0 in favor of
this motion. At this point, Merv Lapin had stepped out of the room.
There being no further business, this meeting was adjourned at 12:10 a.m.
Respectfully submitted,
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
Minutes taken by Pam Brandmeyer
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MINUTES
VAIL TOWN COUNCIL MEETING
MAY 15, 1990
7:30 P.M.
A regular meeting of the Vail Town Council was held on Tuesday, May 15, 1990, at
7:30 p.m., in the Council Chambers of the Uail Municipal Building.
MEMBERS PRESENT: Tom Steinberg, Mayor Pro-Tem
Lynn Fritzlen
Jim Gibson
Merv Lapin
Robert Levine
Peggy Osterfoss
MEMBERS ABSENT: Kent Rose, Mayor
TOWN OFFICIALS PRESENT: Ron Phillips, Town Manager
Charles Wick, Assistant Town Manager
The first item on the agenda was Citizen Participation. No one addressed the
Council.
Mayor Pro-Tem Tom Steinberg announced that items #5 and #6 on the agenda would be
rescheduled to another meeting, as .the leases were not ready for review by Council.
The next item on the agenda .was the second reading of Ordinance #17, Series of 1990,
an ordinance repealing and reenacting Ordinance No. 32, Series of 1987, to provide
changes to Special Development District No. 16 relating to Elk Meadows. Brad
Tjossem, representing Elk Meadows, was in attendance for this discussion. Mike
Mollica from the Community Development Department presented the ordinance to the
Council, stating that the only change to the ordinance from first reading was on
Page 5, Item 11, which was highlighted in bold type in the ordinance. Peggy
Osterfoss asked if the ordinance required the employee housing unit to be built in
Phase I of the project. Mike Mollica stated that it did not, as it would require
the applicant to redesign the home that had already met approvals and this gave the
applicant more flexibility. Peg Osterfoss stated that she would be more comfortable
with the ordinance if the employee housing issue was required in Phase I. Tom
Steinberg asked what the PEC vote was for the project and Kristan Pritz stated that
she believed it was a unanimous vote, but that she was not positive. Merv Lapin
asked the applicant if he was committed to the log cabin design of the project,
stating that there were no other log. cabins in the area. The applicant stated that
the project had received conceptual DRB approval as presented. After some further
discussion, Lynn Fritzlen made a motion to approve Ordinance #17, Series of 1990, on
second reading. Jim Gibson seconded the motion. The motion passed
unanimously.
The next item on the agenda was the reading of Resolution No. 12, Series of 1990, a
resolution authorizing execution of transfer of funds agreement to Central Bank.
Steve Thompson presented the resolution to the Council, stating the main purpose of
the resolution was for added security and internal controls. After some discussion,
Merv Lapin made a motion to approve Resolution #12, Series of 1990, and Peg
Osterfoss seconded the motion. A vote was taken and the resolution passed
unanimously.
The next item on the agenda was the consideration of a purchase contract for West
Vail property - Lots 1-4, Block H, Vail das .Shone, Filing No. 2. Mayor Pro-Tem Tom
Steinberg stated there would be no discussion on this item until the June 5th
meeting. He also stated that the lease for the Old Post Office space and the lease
for Verbatim Booksellers for Vail Village Inn Space would be discussed at the June
5th meeting as well. Tom Steinberg stated that if the Council was considering
selling this space, this would be a good time to look into it, with the high bids on
the parking structure becoming a concern for the Town. Rob Levine and Peg Osterfoss
stated their objection to selling and their desire to proceed with the lease. Lynn
Fritzlen stated that if the Council was considering selling the space, now would be
the opportune time, as the market was on the rise.
The next item on the agenda was the appointment of two Liquor Authority board
members. A vote was taken and Mitzi Thomas was appointed on first vote. Three
additional votes were taken to determine the second appointment. As there was not a
majority vote for any candidate after three votes, the Council elected to postpone
the vote for the second position until Mayor Kent Rose returned at the June 5th
meeting. It was decided to advertise again for additional applicants between now
and the meeting of June 5th. Merv Lapin made a motion to approve the appointment of
Mitzi Thomas to the Liquor Authority Board for a two-year term expiring in June of
1992. Jim Gibson seconded the motion. A vote was taken and the motion passed
unanimously.
Merv lapin asked if there was anything new on the Work Session follow-up list. Ron
Phillips stated that all changes and additions had been made to the list.
Tom Steinberg asked if there was anything further on the West Vail annexation or was
it definitely out. Ron Phillips stated that there was nothing that would be
happening soon, but that a name had been mentioned to him of someone who might be
interested in circulating petitions. Lynn Fritzlen stated that she had given him
the name of Cindy Callicrate, a new resident of Intermountain, who might be
interested in helping.
There being no further business, the meeting was adjourned at 8:05 p.m.
Respectfully submitted,
Kent R. Rose, Mayor
ATTEST;
Pamela A. Brandmeyer, Town Clerk
Minutes taken by Mary Caster
-2-
RESOLUTION N0. 13
Series of 1990
A RESOLUTION THANKING AND ACKNOWLEDGING HERB AND NICHOLE
WERTHEIM FOR THEIR CHALLENGE GRANT FOR THE VAIL
CULTURAL ARTS CENTER.
WHEREAS, the Town Council and the Vail community has expressed a strong interest
in the development of a cultural arts facility within the community; and
WHEREAS, the Herb and Nichole Wertheim Foundation has generously offered a one
million dollar charitable contribution to the Town of Vail for the development of a
cultural arts center; and
WHEREAS, the Town Council wishes to accept the contribution of the Wertheim
Foundation and acknowledge the generosity and foresight of Herb and Nichole
Wertheim.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, that:
1. The Vail Town Council hereby acknowledges the generosity and foresight of
Herb and Nichole Wertheim in offering a one million dollar contribution for the Vail
Cultural Arts Center and hereby expresses its sincere thanks and appreciation to
Herb and Nichole Wertheim.
2. The Town Council accepts the charitable contribution of the Wertheim
Foundation and recognizes that it is the goal of the Wertheims to begin construction
on a cultural arts and convention facility no later than 1991.
INTRODUCED, READ, APPROVED AND ADOPTED this day of
1990.
Kent R. Rose, Mayo r
ATTEST:
Pamela A. Brandmeyer, Town Clerk
RESOLUTION. N0. 14
Series of 1990
A RESOLUTION SETTING FORTH THE INTENTION OF THE TOWN COUNCIL OF
THE TOWN OF VAIL TO MAKE CERTAIN LAND AVAILABLE FOR THE DEVELOPMENT
AND CONSTRUCTION OF A VAIL CULTURAL ARTS CENTER.
WHEREAS, the Town Council and the Vail community strongly supports the
development and construction of a cultural arts facility; and
WHEREAS, the Herb and Nichole Wertheim Foundation has generously donated a one
million dollar challenge grant to the Town of Vail for the development and
construction of a Vail Cultural Arts Center; and
WHEREAS, the Town Council, the Vail Valley Foundation, the Vail lodging
community, and other business interests in Vaii have committed at least twenty-five
thousand dollars for preliminary analysis and development of a cultural arts center;
and
WHEREAS, the Town Council wishes to solicit additional private contributions for
the construction and financing of operations for a cultural arts center; and
WHEREAS, the Town Council wishes to set forth its intent to make certain land
available for the construction of the Vail Cultural Arts Center, which land is
located between the Lionshead Parking Structure and the John Dobson Ice Arena.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, that:
1. The Vail Town Council hereby sets forth its intention to provide the land
it owns between the Lionshead Parking Structure and the Dobson Ice Arena subject for
the development and construction of a Vail Cultural Arts Center subject to:
A. Preliminary analysis indicating the feasibility for such a cultural
arts center.
B. The completion of a design and site plan for the Vail Cultural Arts
Center which is acceptable to the Town Council.
C. The receipt of private charitable contributions to finance both the
construction and operations of the Vail Cultural Arts Center which is deemed
sufficient by the Town Council.
D. A written agreement between the Town Council and an appropriate party
for the ongoing operation of the Vail Cultural Arts Center.
INTRODUCED, READ, APPROVED AND ADOPTED this day of 1990.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
The printed portions of chic form ap roved by the I
Colorado Real Estate Commission (~BS3 5/89)
THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
VACANT LAND
CONTRACT TO BIIY AND BELL REAL ESTATE
Seller's remedy Liquidated Damages or Specific Performance
(Section 16)
,19
1. PARTIES AND PROPERTY. Town of Vail
purchaser(s) [Purchaser], (as joint tenants/tenants in common) agrees to buy, and the undersigned seller(s) [Seller], agrees
to sell, on the terms and conditions set forth in this contract, the following described real estate in the County of
,Colorado, to wit:
Lots 1 and 3, Block H, Vail das Schone Filing 2
known as No.
(Street Address)
(City, State, Zip)
together with all interest of Seller in vacated streets and alleys adjacent thereto, all easements and other appurtenances
thereto, all improvements thereon and all attached fixtures thereon, except as herein excluded, and called the Property.
2. INCLUSIONS. The purchase price includes the following items (a) if attached to the Property on the date of this contract:
lighting, heating, plumbing, ventilating, and air conditioning fixtures, TV antennas, water softeners, smoke/fire/burglar alarms,
security devices, inside telephone wiring and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems,
built-in kitchen appliances, and sprinkler systems and controls; (b) if on the Property whether attached or not on the date
of this contract: built-in vacuum systems (including accessories), storm windows, storm doors, window and porch shades,
awnings, blinds, screens, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating staves, storage
sheds, all keys and garage door openers including remote controls; and (c)
(d) Water Rights. Purchase price to include the following water rights: N/A
{e) Growing Crops. With respect to the growing crops Seller and Purchaser agree as follows: N /A
The above-described included items (Inclusions) are to be conveyed to Purchaser by Seller by bill of sale,
deed or other applicable legal instrument(s) at the closing, free and clear of all taxes, liens and encumbrances, except as
provided in section 10.
The following attached fixtures are excluded from this sale: None
3. PURCHASE PRICE AND TERMS. The purchase price shall be $ 109 , 000.00 ,payable in U.S. dollars by
Purchaser as follows (complete the applicable terms below):
(a) EARNEST MONEY.
$ 10 , 000.00 in the form of Town of Vail check
. as earnest money deposit and part payment of the purchase price, payable to and held by
Vail Associates Real Estate ,
bralc^, ;r, broker's trust account on behalf of both Seller and Purchaser. Broker is authorized to deliver the earnest money
r'= _. the closing agent, if any, at or before closing.
`: ~ CASH AT CLOSING.
__`w , 800.00 to be paid by Purchaser at closing in cash, electronic transfer funds, certified check, savings and
an teller's check, or cashier's check. Subject to the provisions of section 4, if the existing loan balance at the time of
closing shall be different from the loan balance in section 3, the adjustment shall be made in cash at closing or paid as follows:
(c) NEW LOAN.
$ N/A by Purchaser obtaining a new loan.
This loan will be secured by a (1st, 2nd, etc.) deed of trust.
The new loan to Purchaser shall be amortized over a period of years at approximately $
per including principal and interest not to exceed % per annum, plus, if required by
Purchaser's lender, a deposit of of the estimated annual real estate taxes, property insurance premium, and
mortgage insurance premium. If the loan is an adjustable interest rate or graduated payment loan, the payments and interest
rate initially shall not exceed the figures set forth above. ,
No. CBS3 5189 VACANT LAND~FARM AND RANCH CONTRACT TO BUY dt SELL REAL ESTATE Page 1 of 6
McAllister Publishing, 502 Main t., Carbondale, CO 81623 (303)963.1027
Loan discount points, if any, shall be paid to lender at closing and shall not exceed % of the total loan
amount. The first (1, 2, etc.) loan discount points shall be paid by ,and the balance, if any,
shall be paid by
Purchaser shall timely pay a loan origination fee not to exceed % of the loan amount and Purchaser's loan
costs. Cost of any appraisal for loan purposes to be obtained after this date shall be paid by upon loan
application as required by lender.
(d) ASSUMPTION.
$ N/A by Purchaser's assuming and agreeing to pay an existing loan in this approximate amount,
presently payable at $ per including principal, interest presently at %
per annum, and including escrow for the following as indicated:
^ real estate taxes, ^ property insurance premium, ^ mortgage insurance premium,
and Purchaser agrees to pay a loan transfer fee not to exceed
$ At the time of assumption, the new interest rate shall not exceed % per annum
and the new payment shall not exceed $ plus escrow, i[ any.
Seller ^ shall ^ shall not be released from liability on said loan. If applicable, compliance with the tequiremenls
[or release from liability shall be evidenced by delivery at closing of appropriate letter from lender. Cost payable for release of
liability shall be paid by in an amount not to exceed $
(e) SELLER OR PRIVATE THIRD-PARTY FINANCING.
$ 87 , 200.00 by Purchaser executing a promissory note payable to: Dixon and Lucille Keyser
on the note form as indicated: (check one box)
~X Right-to-Cure NTD 82-11-83
^
secured by a (lst,2nd,etc.) deed of trust encumbering the Property, using the form as indicated: (check one box)
Strict Due-on-Sale ('TD 72-11-83) ^
^ Assumable -Not due on Sale (TD 7411-83) ^
Creditworthy (TD 73-11-83)
The promissory note shall be amortized on the basis of 3 years, payable at $ per
including principal and interest at the rate of 8 % per annum. Payments shall commence
July 5 , 1991 and shall be due on the 5th
day of each succeeding July _ _. If not sooner paid, the balance of principal and accrued interest shall be
due and payable July 5 , 1993 after closing. Payments ^ shall ~ shall not be
increased by of estimated annual real estate taxes, and ^ shall ~ shall not be increased by
of estimated annual property insurance premium.
The loan shall also contain the following terms as indicated: If any payment is not received within 15 calendar days
after its due date, a late charge of 18 % of such payment shall be due. Interest on lender
disbursements under the deed of trust shall be 18 % per annum. "Default interest rate shall be 18 %
per annum.
Purchaser may prepay without a penalty except None
a) Loan Application(s). If Purchaser is to pay all or part of the purchase price as set forth in section 3 by obtainin ew
loan or r existing loan is not to be released at closing, Purchaser, if required by such lender, shall make written placation
within lendar days from acceptance of this contract. Purchaser shall cooperate with Seller and len to obtain loan
approval, diligentl d timely pursue same in good faith, execute all documents and furnish all info lion and documents
required by the lender, a subject to section 3, timely pay the costs of obtaining such loan or lend nsent.
(b) Loan Approval. If aser is to pay all or part of the purchase price by obtainin new loan as specified in section
3, this contract is conditional upon der's approval of the new loan on or before , 19
If not so approved by said date, this contr shall terminate. If the loan is so ap ed, but such proceeds are not available to
Purchaser as required in section 5 (Good Fun t the time of closing, closi all be extended one time for calendar
days (not to exceed (5) five). If sufficient funds are n
(c) Existing-Loan Review. If an existing loan is n
documents (including note, deed of trust, modifications)
contract shall terminate.
ed at closing, Seller shall provide copies of the loan
within calendar days from acceptance of this
contract. This contract is conditional upon Purchaser' view and app 1 of the provisions of such loan documents. Purchaser
consents to the provisions of such loan docu is if no written objectr is received by Seller or Listing Company from
Purchaser within calendar days. Purchaser's receipt of such docum . If the lender's approval of a transfer of
the Property is required, this contrac conditional upon Purchaser's obtaining such royal without change in the terms of
such loan, except as set forth ' ection 3. If lender's approval is not obtained on or be ,
19 ,this contract all be terminated on such date. if Seller is to be released from liab ' under such existing loan
and Purchaser does obtain such compliance as set forth in section 3, this wntract may be termin at Seller's option.
(d) Ass lion Balance. If Purchaser is to pay all or part of the purchase price by assuming an exists oan and if the
actual rpal balance of the existing loan at the date of closing is less than the amount in section 3 b ore than
$ then Purchaser may terminate this contract effective upon receipt by Seller or Listing Co any
^ No Right-to-Cure NTD 81-11-83
No. C[3S3 5189 VACANT LANDJFARM AND RANCH CONTRACTTO t1UY & SELL 1tFAL ESTATE Page 2 of 6
McAllister ubliching, 502 Main t., Carbondale, CO 81623 (303)963.7027
Seller or cisting loan is not to be released at closing, this contract is conditional upon Seller's approva c aser's
financial ability and ere iness, which approval shall be at Seller's soft and absolute discreti c - case: (1) Purchascr
shall supply to Seller on or befor 19 -aser's expense, information and
documents concerning Purchaser's financial, emp and credi on; (2) Purchaser consents that Seller may verify
Purchaser's [financial ability and creditworthiness; 3 m 'nand documents received by Seller shall be held by
Seller in confidence, and not release rs except to protect Seller's to this transaction; (4) if Seller does not
provide written notice o -sppproval to Purchaser on or before 19 ,then Seller
waives t~ -on. If Seller does provide written notice of disapproval to Purchaser on or before said date, tract shall
5. GOOD FUNDS. All payments required at closing shall be made in funds which wmply with all applicable Colorado laws.
6. NOT ASSIGNABLE. This contract shall not be assignable by Purchaser without Seller's prior written consent. Except as so
restricted, this contract shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and
assigns of the panics.
7. EVIDENCE OF TITLE. Seller shall furnish to Purchaser, at Seller's expense, either a current ~mmitment for owner's title
insurance policy in an amount equal to the purchase price or at Seller's choice, an abstract of title certified to a current date, on
or before ,19 . If a title insurance commitment. is furnished, Purchaser may require of
Seller that copies of instruments (or abstracts of instruments) listed in the schedule of exceptions (Exceptions) in the title
insurance commitment also be furnished to Purchaser at Seller's expense. This requirement shall pertain only to instruments
shown of record in the office of the clerk and recorder of the designated county or counties. The title insurance commitment,
together with any copies or abstracts of instruments furnished pursuant to this section 7, constitute the title documents (T'itle
Documents). Purchaser must request Seller to furnish copies or abstracts of instruments listed in the schedule of exceptions no
later than ,~_ calendar days after Purchaser's receipt of the title insurance commitment. If Seller furnishes a title
insurance commitment, Seller will have the title insurance policy delivered to Purchaser as soon as practicable after closing and
pay the premium at closing.
8. TITLE. (a) Tile Review. Purchaser shall have the right to inspect the Title Documents or abstract. Written notice by
Purchaser of unmerchantability of title or of any other unsatisfactory title condition shown by the Title Documents or abstract
shall be signed by or on behalf of Purchaser and given to Seller or Listing Company on orbefore =_~ calendar days after
Purchaser's receipt of Title Documents or abstract, or within five (5) calendar days after receipt by Purchaser of any Title
Document(s) or endorsement(s) adding new Exception(s) to the title commitment together with a copy of the Title Document
adding new Exception(s) to title. If Seller or Listing Company does not receive Purchaser's notice by the date(s) specified
above, Purchaser shall be deemed to have accepted the condition of title as disclosed by the Title Documents as satisfactory.
(b) Matters Not Shown by the Public Records. Seller shall deliver to Purchascr, on or before the date set forth in
section 7, true copies of all lease(s) and survey(s) in Scllcr's possession pertaining to the Property and shall disclose to Purchascr
all casements, liens or other title matters not shown by the public records of which Seller has actual knowledge. Purchaser shall
have the right to inspect the Property to determine if any third party(s) has any right in the Property not shown by the public
records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of any unsatisfactory
wndition(s) disclosed by Seller or revealed by such inspection shall be signed by or on behalf of Purchaser and given to Seller or
Listing Company on or before ,19 . If Seller or Listing Company does not receive
Purchaser's notice by said date, Purchaser shall be deemed to have accepted title subject to such rights, if any, of third parties of
which Purchaser has actual knowledge.
(c) Right to Cure. If Seller or Listing Company receives notice of unmerchantability of title or any other unsatisfactory
title condition(s) as provided in subsection (a) or (b) above, Seller shall use reasonable effort to correct said unsatisfactory title
eonditions(s) prior to the date of closing. If Seller fails to correct said unsatisfactory title condition(s) on or before the date of
closing, this contract shall then terminate, subject to section 17; provided, however, Purchaser may, by written notice received by
Seller or Listing Company on or before closing, waive objection to said unsatisfactory title condition(s).
9. DATL' OF CLOSING. The date of closing shall be July 5 , 19 90 or by mutual agreement at an
earlier date. The hour and place of closing shall be as designated by Purchaser and Seller
10. TRANSFER OF TITLE. Subject to tender or payment on closing as required herein and ~mpliance by Purchaser with the
other terms and provisions hereof, Seller shall execute and deliver a good and sufficient General Warranty
decd to Purchascr, on closing, conveying the Property free and clear of all taxes except the general taxes for the year of closing,
and except None
free and clear of all liens for special improvements installed as of the date of Purchaser's signature hereon, whether assessed or
not; except distribution utility easements, including cable TV; except those matters reflected by the Title Documents
accepted by Purchaser in accordance with subsection 8(a); except those rights, if any, of third parties in the Property not shown
by the public records in accordance with subsection S(b); and subject to building and zoning regulations.
11. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before the time of
settlement from the proceeds of this transaction or from any other source.
12. CLOSING COSTS, DOCUMENTS AND SERVICES. Purchaser and Seiler shall pay their respective closing costs at
closing except as otherwise provided herein. Purchaser and Seller shall sign and complete all customary or required documents
at or before closing. Fees for real estate closing and settlement services shall not exceed $ 200.00 and
shall be paid at closing by Purr•ha e and SP1 1 er
13. PROBATIONS. General taxes for the year of closing, based on the most recent levy and the most recent assessment, rents,
water and sewer charges, owner's association dues, and interest on continuing loan(s), if any, and West Vail
Road Improvements
shall be prorated to date of closing.
Any sales, use and transfer tax that may accrue because of this transaction shall be paid by Purchaser .
No. CBS3 5189 VACANT LAND~FARM AND RANCH CONTRACT TO BUY ~ SELL REAL ESTATE Page 3 of 6
McAllicter ubiiching, 502 Main t., Carbondale, CO 87623 (303)963.7027
14. POSSESSION. Possession of the Property shall be delivered to Purchaser as follows:
On the date of closing
subject to the following lease(s) or tenancy(s): None
If Seller, after closing, fails to deliver possession on the date herein specified, Seller shall be subject to eviction and shall be
additionally liable to Purchaser for payment of ~ 200.00 per day from the date of agreed possession until
possession is delivered.
15. CONDITION OF AND DAMAGE TO PROPERTY. The Property and Inclusions shall be conveyed in their present
condition, ordinary wear and tear excepted. In the event the Property shall be damaged by fire or other casualty prior to time of
closing, in an amount of not more than ten percent o[ the total purchase price, Seller shall be obligated to repair the same
before the date of closing. In the event such damage is not repaired within said time or if the damages .exceed such sum, this
contract may be terminated at the option of Purchaser. Should Purchaser elect to carry out this contract despite such
damage, Purchaser shall be entitled to credit for all the insurance proceeds resulting from such damage to the Property anti
Inclusions, not exceeding, however, the total purchase price. Should any Inclusion(s) or service(s) fail or be damaged between
the date of this contract and the date of closing or the date of possession, whichever shall be earlier, then Seller shall be liable
for the repair or replacement of such Inclusion(s) or service(s) with a unit of similar size, age and quality, or an equivalent
credit, less any insurance proceeds received by Purchaser covering such repair or replacement. The risk of loss for any damage
to growing crops, by fire or other casualty, shall be borne by the party entitled to the growing crops, if any, as provided in section
Z and such party shall be entitled to such insurance proceeds or benefits for the growing crops, if any.
16. TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as earnest money
hereunder or any other payment due hereunder is not paid, honored or tendered when due,or if any other obligation hereunder
is not performed or waived as herein provided, there shall be the following remedies:
(a) IF PURCHASER IS IN DEFAULT:
IF THE BOX IN SUBSECTION (1) IS CHECKED, SELLER'S REMEDIES SHALL BE AS SET FORTH
IN SUBSECTION (1) [SPECIFIC PERFORMANCE]. IF SAID BOX IS NOT CHECKED, SELLER'S
REMEDIES SIiALL BE AS SET FORTH IN SUBSECTION (2) [LIQUIDATED DAMAGES].
^ (1) Specific Performance. Seller may elect to treat this contract as cancelled, in which case all payments and things of
value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may
be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to
specific performance or damages, or both.
(2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Purchaser and
retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that
such payments and things of value are LIQUIDATED DAMAGES and (except as provided in subsection (c)) are
SELLER'S SOLE AND ONLY REMEDY for Purchaser's failure to perform the obligations of this contract. Seller
expressly waives the remedies of specific performance and additional damages.
(b) IF SELLER IS IN DEFAULT:
Purchaser may elect to treat this contract as cancelled, in which case all payments and things of value received
hereunder shall be returned and Purchaser may recover such damages as may be proper, or Purchaser may elect to treat
this contract as being in full force and effect and Purchaser shall have the right to specific performance or damages, or
both.
(c) COSTS AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any litigation or
arbitration arising out of this contract, the +:ourt shall award to the prevailing party all reasonable costs and expense,
including attorney fees.
17. EARNEST MONEY DISPUTE. Notwithstanding any termination of this contract, Purchaser and Seller agree that, in the
event of any controversy regarding the earnest money and things of value held by broker or closing agent, unless mutual written
instructions are received by the holder of the earnest money and things of value, broker or closing agent shall not be
required to take any action but may await any proceeding, or at broker's or closing agent's option and sole discretion, may
interplead all parties and deposit any moneys or things of value into a court of competent jurisdiction and shall recover court
costs and reasonable attorney fees.
18. INSPECTION. Purchaser or any designee shall have the right to have inspection(s) of the physical condition of the Property
and Inclusions, at Purchaser's expense. if written notice of any unsatisfactory condition, signed by Purchaser, is not received by
Seller or Listing Company on or before ,19 ,the physical condition of the Property anti
Inclusions shall be deemed to be satisfactory to Purchaser. If written notice of any unsatisfactory condition, signed by Purchaser,
is given to Seller or Listing Company as set forth above in this section, and if Purchaser and Seller have not reached a written
agreement in settlement thereof on or before ,19 ,this contract shall then terminate,
subject to section 17. Purchaser is responsible and shall pay for any damage which occurs to the Property and Inclusions as
a result of such inspection.
No. CBS3 5/89 VACANT LANDJFARM AND RANCH CONTRACT' TO BUY dt SELL REAL ESTATE Page 4 of 6
McAllister ubliching, 502 Main St., Carbondale, CO 81623 (303)963-]027
19. AGENCY DISCLOSURE.
The listing broker, Vail Associates Real Estate, Inc.
,and its sales agents (Listing Company) represent Seller. The Listing
Company owes duties of trust, loyalty and confidence to Seller only. While the Listing Company has a duty to
treat Purchaser honestly, the Listing Company is the Seller's agent and is acting on behalf of Seller and
not Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY
LISTING OR SELLING COMPANY THAT LISTING COMPANY IS SELLER'S AGENT.
The sell;ngbroker, Vail Associates Real Estate
. and its sales agents (Selling Company) represent: [IF THE BOX ]N
SUBSECTION (b) IS CHECKED, SELLING COMPANY REPRESENTS PURCHASER ONLY, AS SET
FORTH IN SUBSECTION (b). IF THE BOX IN SUBSECTION (b) IS NOT CHECKED, SELLING
COMPANY REPRESENTS SELLER ONLY, AS SET FORTH IN SUBSECTION (a).J
(a) Seller. The Selling Company owes duties of trust, loyalty and confidence to Seller only. While the Selling Company
has a duty to treat Purchaser honestly, the Selling Company is Seller's agent and is acting on behalf of Sellcr and not
Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY SELLING
COMPANY TIiAT SELLING COMPANY IS SELLER'S AGENT.
^ (b) Purchaser. If the box is checked: The Selling Company owes duties of trust, loyalty and confidence to Purchaser
only. While the Selling Company has a duty to treat Seller honestly, the Selling Company is acting on bchalf of
Purchaser and not Seller. SELLER AND LISTING COMPANY ACKNOWLEDGE PRIOR TIMELY NOTICE BY
SELLING COMPANY THAT IT IS PURCHASEK`S AGENT.
20. ADDITIONAL PROVISIONS:
See Addendum A attached and incorporated in this Agreement by reference.
21. RECOMMENDATION OF LEGAL COUNSEL. By signing this document, Purchaser and Seller acknowledge that the
Selling Company or the Listing Company has recommended that Purchaser and Seller obtain the advice of their own legal
counsel regarding examination of title and this contract.
22. TERivfINATION. In the event this contract is terminated, all payments and things of value received hereunder shall be
returned and the parties shall be relieved of all obligations hereunder, subject to section 17.
Na. C1353 Sj89 VACANT LAND/FARM AND RANCH CONTRACT TO BUY do SII.L 1tBAL ISI'ATB Page 5 of 6
McAllicter Publishing, 502 Main t., Carbondale, CO 81623 (303)963.1027
23. NOTICE OF ACCEPTANCE/COUNTERPARTS. If this proposal is accepted by Seller in writing and Purchaser receives
notice of such acceptance on or before ,19 ,this document shall become a contract
between Seller and Purchaser. A mpy of this document maybe executed by each party, separately, and when each party has
executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties.
Purchaser Town of Vail Date
Purchaser
Date
Purchaser's Address
Purchaser's Address
[TO BE COMPLETED BY SELLER AND LISTING COMPANY]
24. ACCEPTANCE/COMMISSION. Seller accepts the above proposal this day of ,
19 Seller shall pay to the Listing Company a commission of % of the gross purchase price or
as agreed upon between Seller and Listing Company for services in this transaction. In the event of
forfeiture of payments and things of value received hereunder, such payments and things of value shall be divided between
Listing Company and Seller, one-half thereof to Listing Company, but not to exceed the commission, and the balance to Seller.
Seller Dixon Keyser Date
Seller Lucille Keyser Date
Seller's Address
Seller's Address
The undersigned Selling Company acknowledges receipt of the earnest money deposit specified in section 3 and both Selling
Company and Listing Company confirm the respective agency disclosure set forth in section 19.
Selling Company
Address
By
Date
Listing Company
Address
By
Date
No. CBS3 5/89 VACANT LAND\FARM AND RANCH CONTRACT TO BUY dr SELL REAL ESTATE Page 6 of 6
McAllister Publishing, 502 Main 51., Carbondale, CO 81623 (303)963-1027
' ADDENDUM A
1. This contract is conditioned upon its approval by the Town Council of the Town
of Vail, Colorado.
2. The title insurance policy to be delivered to Purchaser by Seller in accordance
with paragraph 7 of this Agreement shall have standard exceptions 1 - 4
deleted.
3. The promissory note referred to in paragraph 3 of the contract shall provide
for partial releases to be conveyed to the Purchaser upon each installment
payment made to Seller as set forth in said paragraph. Further, the promissory
note shall be non-recourse against the Purchaser. The promissory note and deed
of trust shall be prepared by Purchaser's attorney and shall be submitted to
Seller for review a reasonable time before the date of closing. This contract
is conditioned upon the promissory note and deed of trust being acceptable in
their terms and form to Seller and Purchaser.
4. Purchaser hereby represents and warrants to Seller that there are no hazardous
substances on the property including, but not limited to, asbestos, or PCB in
its various forms.
1 The printed portionc o[ this torm a roved b~ the
Colorado Rcal Estate Commiccion (~BS3 5/89)
THIS IS A LEGAL INSTRUMENT. IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
VACANT LAND
CONTRACT TO BUY AND BELL REAL EBTATE
Seller's remedy Liquidated Damages or Specific Performance
(Section 16)
,19
i. PARTIES AND PROPERTY. Town of Vail
purchaser(s) [Purchaser], (as joint tenants/tenants in common) agrees to buy, and the undersigned seller(s) [Seller], agrees
to sell, on the teens and conditions set forth in this ~ntract, the following described real estate in the County of
, Colorado, to wit:
Lots 2 and 4, Block H, Vail das Schone Filing 2
known as No. 2487 and 2477 Garmish Drive
(Street Address)
Vail, CO 81657 ,
(City, State, Zip)
together with all interest of Seller in vacated streets and alleys adjacent thereto, all easements and other appurtenances
thereto, all improvements thereon and all attached fixtures thereon, except as herein excluded, and called the Property.
2. INCLUSIONS. The purchase price includes the following items (a) if attached to the Property on the dale of this contract:
lighting, heating, plumbing, ventilating, and air conditioning fixtures, TV antennas, water softeners, smoke/fire/burglar alarms,
security devices, inside telephone wiring and connecting blocks/jacks, plants, mirrors, floor coverings, intercom systems,
built-in kitchen appliances, and sprinkler systems and t~ntrols; (b) if on the Property whether attached or not on the date
of this contract: built-in vacuum systems (including accessories), storm windows, storm doors, window and porch shades,
awnings, blinds, screens, curtain rods, drapery rods, fireplace inserts, fireplace screens, fireplace grates, heating stoves, storage
sheds, all keys and garage door openers including remote controls; and (c)
(d) Water Rights. Purchase price to include the following water rights: N/A
(e) Growing Crops. With respect to the growing crops Seller and Purchaser agree as follows: N/A
~he above-described included items (Inclusions) are to be conveyed to Purchaser by Seller by bill of sale,
deed or other applicable legal instrument(s) at the closing, free and clear of all taxes, liens and encumbrances, except as
provided in section 10.
The following attached fixtures are excluded from this sale: None
3. PURCHASE PRICE AND TERMS. The purchase price shall be S 109.000.00 .payable in U.S. dollars by
Purchaser as follows (complete the applicable terms below):
(a) EARNEST MONEY.
S 10.000.00 in the form of Town of Vail check
. as earnest money deposit and part payment of the purchase pria, payable to and held by
Vail AGGOCiates Read Estate
broker, in broker's trust account on behalf of both Seller and Purchaser. Broker is authorized to deliver the earnest money
deposit to the closing agent, if any, at or before closing.
(b) CASH AT CLOSING.
$ 11 .800.00 to be paid by Purchaser at closing in cash, electronic transfer funds, certified check, savings and
loan teller's check, or cashier's check. Subject to the provisions of section 4, if the existing loan balance at the time o[
closing shall be different from the loan balance in section 3, the adjustment shall be made in cash at closing or paid as follows:
(c) NEW LOAN.
$ N /A by Purchaser obtaining a new loan.
This loan will be secured by a (1st, 2nd, eta) deed of trust.
The new loan to Purchaser shall be amortized over a period of years at approximately $
per including principal and interest not to exceed % per annum, plus, if required by
Purchaser's lender, a deposit of of the estimated annual real estate taxes, property insurance premium, and
mortgage insurance premium. If the loan is an adjustable interest rate or graduated payment loan, the payments and interest
rate initially shall not exceed the figures set forth above.
No. CBS3 5189 VACANT LANDJFARM AND RANCH CONTRACT TO BUY 6c SELL REAL ESTATE Page l of 6
McAllister Publishing, 502 Main St., Carbondale, CO 8]623 (303)963-1027
Loan discount points, if any, shall be paid to lender at closing and shall not exceed % of the total loan
amount. The first (1, 2, etc.) loan discount points shall be paid by ,and the balance, if any,
shall be paid by
Purchaser shall timely pay a loan origination fee not to exceed % of the loan amount and Purchaser's loan
costs. Cost of any appraisal for loan purposes to be obtained after this date shall be paid by upon loan
application as required by lender.
(d) ASSUMPTION.
$ N/A by Purchaser's assuming and agreeing to pay an existing loan in this approximate amount,
presently payable at $ per including principal, interest presently at
per annum, and including escrow for the following as indicated:
^ real estate taxes, ^ property insurance premium, ^ mortgage insurance premium,
and Purchaser agrees to pay a loan transfer fee not to exceed
$ At the time of assumption, the new interest rate shall not exceed % per annum
and the new payment shall not exceed $ plus escrow, if any.
Seller ^ shall ^ shall not be released from liability on said loan. If applicable, compliance with. the requirements
for release from liability shall be evidenced by delivery at closing of appropriate letter from lender. Cost payable for release of
liability shall be paid by in an amount not to exceed $
(e) SELLER OR PRIVATE THIRD-PARTY FINANCING.
$ 87 .200.00 by Purchaser executing a promissory note payable to: Robert W. and Fern F .
on the note form as indicated: (check one box)
may, Right-to-Cure NTD 82-11-83 ^ No Right-to-Cure NTD 81-11-83 -
^
secured by a (lst,2nd,etc.) deed of trust encumbering the Property, using the form as indicated: (check one box)
~X Strict Due-on-Sale (TD 72-11-83) ^ Creditworthy (TD 73-11-83)
^ Assumable -Not due on Sale (T'D 7411-83) ^
The promissory note shall be amortized on the basis of 3 years, payable at $ per
including principal and interest at the rate of 8 % per annum. Payments shall commence
July 5 . 1991 and shall be due on the 5th
day of each succeeding July . If not sooner paid, the balance of principal and accrued interest shall be
due and payable Jules 5 . 1993 after closing. Payments ^ shall ®Xshall not be
increased by of estimated annual real estate taxes, and ^ shall ~ shall not be increased by
of estimated annual property insurance premium.
The loan shall also contain the following terms as indicated: If any payment is not received within t ~ calendar days
alter its due date, a late charge of _ 18 _ % of such payment shall be due. Interest on lender
disbursements under the deed of trust shall be 18 % per annum. Default interest rate shall be ~_
per annum.
Purchaser may prepay without a penalty except None
a) Loan Application(s). If Purchaser is to pay all or part of the purchase price as set forth in section 3 by obtaining w
loan or t existing loan is not to be released at closing, Purchaser, if required by such lender, shall make written tcation
within lendar days from acceptance of this contract. Purchaser shall cooperate with Seller and lend o obtain loan
approval, diligently d timely pursue same in good faith, execute all documents and furnish all info ion and documents
required by the lender, an object to section 3, timely pay the. costs of obtaining such loan or lende nsent.
(b) Loan Approval. if P aser is to pay all or part of the purchase price by obtainin ew loan as specified in section
3, this contract is conditional upon er's approval of the new loan on or before lq
if not so approved by said date, this contra hall terminate. If the loan is so appr d, but such proceeds are not available to
Purchaser as required in section 5 (Good Funds the time of closing, closin all be extended one time for calendar
days (not to exceed (5) five). If sufficient funds are n en available, t 'contract shall terminate.
(c) Existing-Loan Review. If an existing loan is no be eased at closing, Seller shall provide copies of the loan
documents (including note, deed of trust, modifications) to r er within calendar days from acceptance of this
contract. This contract is conditional upon Purchaser's yew and app I of the provisions of such loan documents. Purchaser
consents to the provisions of such loan docu if no written objectio 's received by Seller or Listing Company from
Purchaser within calendar days f Purchaser's receipt of such docum . If the lender's approval of a transfer of
the Property is required, this contrac 'conditional upon Purchaser's obtaining such a oval without change in the terms of
such loan, except as set forth ' ection 3. If lender's approval is not obtained on or befo ,
19 ,this contrac all be terminated on such date. If Seller is to be released from liab~ under such existing loan
and Purchaser does obtain such compliance as set forth in section 3, this contract may be terming at Seller's option.
(d) Ass lion Balance. If Purchaser is to pay all or part of the purchase price by assuming an existin an and if the
actual cipal balance of the existing loan at the date of closing is less than the amount in section 3 by re than
$ then Purchaser may terminate this ~ntract effective upon receipt by Seller or Listing Co
No. CBS3 5189 VACANT LANDf FARM AND RANCH CONTRACT TO IIUY Ec SELL REAL ESTATE Page 2 of 6
McAllister Publishing, 502 Main St., Carbondale, CO 8]623 (303)963.1027
Seller o xsting loan is not to be released at closing, this contract is conditional upon Seller's approv~a '~ c aser's
financial ability and cr thiness, which approval shall be at Seller's sole and absolute discreti c5ii h case: (1) Purchaser
shall supply to Seller on or be o 19 aser's expense, information and
documents concerning Purchaser's financial, emp and credi ' ron; (2) Purchaser consents that Seller may verify
Purchaser's financial ability and creditworthiness; 3 r 'on and documents received by Seller shall be held by
Seller in confidence, and not release ers except to protect Seller's to ' i this transaction; (4) if Seller does not
provide written notice o s isapprova( to Purchaser on or before 19 ,then Seller
waives th' ron. If Seller does provide written notice of disapproval to Purchaser on or before said a ntract shall
5. GOOD FUNDS. All payments required at closing shall be made in funds which comply with all applicable Colorado laws.
6. NOT ASSIGNABLE. This contract shall not be assignable by Purchaser without Seller's prior written consent. Except as so
restricted, this contract shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and
assigns of the parties.
7. EVIDENCE OF TITLE. Seller shall furnish to Purchaser, at Seller's expense, either a current commitment for owner's title
insurance policy in an amount equal to the purchase price or at Seller's choice, an abstract of title certified to a current date, on
or before 19 . If a title insurance cemmitment is furnished, Purchaser may require of
Seller that copies of instruments (or abstracts of instruments) listed in the schedule of exceptions (Exceptions) in the title
insurance commitment also be furnished to Purchaser at Seller's expense. This requirement shall pertain only to instruments
shown of record in the office of the clerk and recorder of the designated county or counties. The title insurance commitment,
together with any copies or abstracts of instruments furnished pursuant to this section 7, constiWte the title documents ('1'itlc
Documents). Purchaser must request Seller to furnish copies or abstracts of instruments listed in the schedule of exceptions no
later than ,~tL calendar days after Purchaser's receipt of the title insurance commitment. If Seller furnishes a title
insurance commitment, Seller will have the title insurance policy delivered to Purchaser as soon as practicable after closing and
pay the premium at closing.
8. TITLE. (a) Title Review. Purchaser shall have the right to inspect the Title Documents or abstract. Written notice by
Purchaser of unmerchantability of title or of any other unsatisfactory title condition shown by the Title Documents or abstract
shall be signed by or on behalf of Purchaser and given to Setter or Listing Company on or before ~!Z calendar days after
Purchaser's receipt of Title Documents or abstract, or within five (5) calendar days after receipt by Purchaser of any Title
Document(s) or endorsement(s) adding new Exception(s) to the title commitment together with a copy of the Title Document
adding new Exception(s) to title. If Seller or Listing Company does not receive Purchaser's notice by the date(s) specified
above, Purchaser shall be deemed to have accepted the condition of title as disclosed by the Title Documents as satisfactory.
(b) Matters Not Shown by the Public Records. Seller shall deliver to Purchaser, on or before the date set forth in
section 7, true copies of all lease(s) and survey(s) in Scllcr's possession pertaining to the Property and shall disclose to Purchaser
all casements, liens or other title matters not shown by the public records of which Seller has actual knowledge. Purchaser shall
have the right to inspect the Property to determine if any third party(s) has any right in the Property not shown by the public
records (such as an unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of any unsatisfactory
condition(s) disclosed by Seller or revealed by such inspection shall be signed by or on behalf of Purchaser and given to Seller or
Listing Company on or before ,19 . If Seller or Listing Company does not receive
Purchaser's notice by said date, Purchaser shall be deemed to have accepted title subject to such rights, if any, of third parties of
which Purchaser has actual knowledge.
(c) Right to Cure. If Seller or Listing Company receives notice of unmerchanlability of title or any other unsatisfactory
title condition(s) as provided in subsection (a) or (b) above, Seller shall use reasonable effort to correct said unsatisfactory title
conditions(s) prior to the date of closing. If Seller fails to correct said unsatisfactory title condition(s) on or before the date of
closing, this contract shall then terminate, subject to section 17; provided, however, Purchaser may, by written notice received by
Seller or Listing Company on or before closing, waive objection to said unsatisfactory title condition(s).
9. DATE OF CLOSING. The date of closing shall be July 5 , 19 90 or by mutual agreement at an
earlier date. The hour and place of closing shall be as designated by Purchaser and Seller
10. TRANSFER OF TITLE. Subject to tender or payment on closing as required herein and compliance by Purchaser with the
other terms and provisions hereof, Seller shall execute and deliver a good and sufficient General Warranty
deed to Purchaser, on closing, conveying the Property free and clear o[ all taxes except the general taxes for the year of closing,
and except None
free and clear of all liens for special improvements installed as of the date of Purchaser's signature hereon, whether assessed or
not; except distribution utility easements, including cable TV; except those matters retlcctcd by the Title Uocumcnts
accepted by Purchaser in accordance with subsection 8(a); except those rights, if any, of third parties in the Property not shown
by the public records in accordance with subsection 8(b); and subject to building and zoning regulations.
11. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shat( be paid at or before the lime of
settlement from the proceeds of this transaction or from any other source.
12. CLOSING COSTS, DOCUMENTS AND SERVICES. Purchaser and Seller shall pay their respective closing costs at
closing except as otherwise provided herein. Purchaser and Seller shall sign and complete all customary or required documents
at or before closing. Fees for real estate closing and settlement services shall not exceed ~ 200.00 and
shall be paid at closing by - PurchaGer and Seller
13. PROBATIONS. General taxes for the year of closing, based on the most recent levy and the most recent assessment, rents,
water and sewer charges, owner's association dues, and interest on continuing loan(s), if any, and West Vail
Read Tmvrovements
shall be prorated to date of closing.
Any sales, use and transfer tax that may accrue because of this transaction shall be paid by Purchaser .
Vo. CQS3 5189 VACANT LANDJFARM AND RANCI I CONTRACT TO BUY do SELL REAL ESTATE Page 3 of 6
~r111icter ubliching, 502 Main St., Carbondale, CO 8]623 (303)963.1027
14. POSSESSION. Possession of the Property shall be delivered to Purchaser as follows:
On the date of closing
subject to the following lease(s) or tenancy(s): None
If Seller, after closing, fails to deliver possession on the date herein specified, Seller shall be subject to eviction and shall be
additionally liable to Purchaser for payment of ~ 200.00 per day from the date of agreed possession until
possession is delivered.
15. CONDITION OF AND DAMAGE TO PROPERTY. The Property and Inclusions shall be conveyed in their present
condition, ordinary wear and tear excepted. In the event the Property shall be damaged by fire or other casualty prior to time cif
closing, in an amount of not more than ten percent of the total purchase price, Seller shall be obligated to repair the same
before the date of closing. In the event such damage is not repaired within said time or if the damages exceed such sum, this
contract may be terminated at the option of Purchaser. Should Purchaser elect to carry out this contract despite such
damage, Purchaser shall be entitled to credit for all the insurance proceeds resulting from such damage to the Property and
Inclusions, not exceeding, however, the total purchase price. Should any Inclusion(s) or service(s) fail or be damaged between
the date of this contract and the date of closing or the date of possession, whichever shall be earlier, then Seller shall be liable
for the repair of replacement of such Inclusion(s) or service(s) with a unit of similar size, age and quality, or an equivalent
credit, less any insurance proceeds received by Purchaser covering such repair or replacement. The risk of loss for any damage
to growing crops, by Lire or other casualty, shall be borne by the party entitled to the growing crops, if any, as provided in section
2 and such party shall be entitled to such insurance proceeds or benefits for the growing crops, i[ any.
16. TIME OFESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as earnest money
hereunder or any other payment due hereunder is not paid, honored or tendered when due,or if any other obligation hereunder
is not performed or waived as herein provided, there shall be the following remedies:
(a) IF PURCHASER IS IN DEFAULT:
IF THE BOX IN SUBSECTION (1) IS CHECKED, SELLER'S REMEDIES SHALL BE ASSET FORTH
IN SUBSECTION (1) [SPECIFIC PERFORMANCE). IF SAID BOX IS NOT CHECKED, SELLER'S
REMEDIES SHALL BE AS SET FORTH IN SUBSECTION (2) [LIQUIDATED DAMAGESJ.
^ (1) Specific Performance. Seller may elect to treat this contract as cancelled, in which case all payments and things of
value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may
be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to
specific performance or damages, or both.
(2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Purchaser and
retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that
such payments and things of value are LIQUIDATED DAMAGES and (except as provided ir- subsection (c)) are
SELLER'S SOLE AND ONLY REMEDY for Purchaser's failure to perform the obligations of this contract. Seller
expressly waives the remedies of specific performance and additional damages.
(b) IF SELLER IS IN DEFAULT:
Purchaser may elect to treat this contract as cancelled, in which case all payments and things of value received
hereunder shall be returned and Purchaser may recover such damages as may be proper, or Purchaser may elect to treat
this contract as being in full force and effect and Purchaser shall have the right to specific performance or damages, or
both.
(c) COSTS AND EXPENSES. Anything to the conUary herein notwithstanding, in the event of any litigation or
arbitration arising out of this contract, the court shall award to the prevailing party all reasonable costs and expense,
including attorney fees.
17. EARNEST MONEY DISPUTE. Notwithstanding any termination of this contract, Purchaser and Seller agree that, in the
event of any controversy regarding the earnest money and things of value held by broker or closing agent, unless mutual written
instructions are received by the holder of the earnest money and things of value, broker or closing agent shall not be
required to take any action but may await any proceeding, or at broker's or closing agent's option and sole discretion, may
interplead all parties and deposit any moneys or things of value into a court of competent jurisdiction and shall recover court
costs and reasonable attorney fees.
18. INSPECTION. Purchaser or any designee shall have the right to have inspection(s) of the physical ~ndition of the Property
and Inclusions, at Purchaser's expense. If written notice of any unsatisfactory condition, signed by Purchaser, is not received by
Seller or Listing Company on or before .19 .the physical condition of the Property and
Inclusions shall be deemed to be satisfactory to Purchaser. If written notice of any unsatisfactory condition, signed by Purchaser,
is given to Seller or Listing Company as set forth above in this section, and if Purchaser and Seller have not reached a written
agreement in settlement thereof on or before ,19 ,this contract shall then terminate,
subject to section 17. Purchaser is responsible and shall pay for any damage which occurs to the Property and Inclusions as
a result of such inspection.
'~ o. CBS3 5189 VACANT [ANDf FARM AND RANCN CONTRACT TO BUY g SELL REAL ESTATE Page 4 of 6
' ' Allister ubtiching, 502 Main St., Carbondale, CO 81623 (303)963-1027
19. AGENCY DISCLOSURE.
The listing broker, Vail Associates -Real Estate, Inc.
,and its sales agents (Listing Company) represent Seller. The Listing
Company owes duties of trust, loyalty and confidence to Seller only. While the Listing Company has a duty to
treat Purchaser honestly, the Listing Company is the Seller's agent and is acting on behalf of Seller and
not Purchaser. BY SIGNING BELOW, PURCHASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY
LISTING OR SELLING COMPANY THAT LISTING COMPANY IS SELLER'S AGENT.
The selling broker, Vail Associates Real Estate
,and its sales agents (Selling Company) represent: [IF THE BOX IN
SUBSECTION (b) IS CHECKED, SELLING COMPANY REPRESENTS PURCHASER ONLY, AS SET
FORTII IN SUBSECTION (b). IF TIIE BOX IN SUBSECTION (b) IS NOT CHECKED, SELLING
COMPANY REPRESENTS SELLER ONLY, AS SET FORTH IN SUBSECTION (a).J
(a) Seller. The Selling Company owes duties of trust, loyalty and ~nfidence to Seller only. While the Selling Company
has a duty to treat Purchaser honestly, the Selling Company is Seller's agent and is acting on behalf of Seller and not
Purchaser. BY SIGNING BELOW, PURCIASER ACKNOWLEDGES PRIOR TIMELY NOTICE BY SELLING
COh1PANY TIIAT SELLING COMPANY IS SELLER'S AGENT.
^ (b) Purchaser. If the box is checked: The Selling Company owes duties of trust, loyalty and confidence to Purchaser
only. While the Selling Company has a duty to treat Seller honestly, the Selling Company is acting on behalf of
Purchaser and not Seller. SELLER AND LISTING COMPANY ACKNOWLEDGE PRIOR TIMELY N01'ICE BY
SELLING COMPANY THAT IT IS PURCHASER`S AGENT.
20. ADDITIONAL PROVISIONS:
See Addendum A attached and incorporated in this Agreement by reference.
21. RECOMMENDATION OF LEGAL COUNSEL. By signing this document, Purchaser and Seller acknowledge that the
Selling Company or the Listing Company has recommended that Purchaser and Seller obtain the advice of their own legal
counsel regarding examination of title and this contract.
22. TERMINATION. In the event this contract is terminated, all payments and things of value received hereunder shall be
returned and the parties shall be relieved of all obligations hereunder, subject to section 17.
_. . CBS3 5/84 VACANT LAND/FARM AND RANCH CON'T'RACT' TO BUY g SELL RPAL ESTATE Page 5 of 6
~= E1llister Publishing, 502 Main t., Carbondale, CO 81623 (303)963-1027
23. NOTICE OF ACCEPTANCE/COUNTERPARTS. If this proposal is accepted by Seller in writing and Purchaser receives
notice of such acceptance on or before ,19 ,this document shall become a contract
between Seller and Purchaser. A spy of this document may be executed by each party, separately, and when each party has
executed a copy thereof, such copies taken together shall be deemed to be a full and complete contract between the parties.
Purchaser Town of Vail Date
Purchaser
Purchaser's Address
Date
Purchaser's Address
(TO BE COMPLETED BY SELLER AND LISTING COMPANY)
24. ACCEPTANCE/COMMISSION. Seller accepts the above proposal this day of ,
19 Seller shall pay to the Listing Company a commission of %of the gross purchase price or
as agreed upon between Seller and Listing Company for services in this transaction. In the event of
forfeiture of payments and things of value received hereunder, such payments and things of value shall be divided between
Listing Company and Seller, one-half thereof to Listing Company, but not to exceed the commission, and the balance to Seller.
Seller Robert W. Glake Date
Seller Fern F. Glake Date
Seller's Address
Seller's Address
The undersigned Selling Company acknowledges receipt of the earnest money deposit specified in section 3 and both Selling
Company and Listing Company confirm the respective agency disclosure set forth in section 19.
Selling Company
Address
By
Listing Company
Date
Address
By
Date
' :c,. CBS3 5189 VACANT LAND`` FARM AND RANCH CONTRACT TO BUY do SELL REAL ESTATE Page 6 or 6
'<;,Atlicter Publishing, 502 Main Si., Carbondale, CO 8]623 (303)9631027
ADDENDUM A
1. This contract is conditioned upon its approval by the Town Council of the Town
of Vail, Colorado.
2. The title insurance policy to be delivered to Purchaser by Seller in accordance
with paragraph 7 of this Agreement shall have standard exceptions 1 - 4
deleted.
3. The promissory note referred to in paragraph 3 of the contract shall provide
for partial releases to be conveyed to the Purchaser upon each installment
payment made to Seller as set forth in said paragraph. Further, the promissory
note shall be non-recourse against the Purchaser. The promissory note and deed
of trust shall be prepared by Purchaser's attorney and shall be submitted to
Seller for review a reasonable time before the date of closing. This contract
is conditioned upon the promissory note and deed of trust being acceptable in
their terms and form to Seller and Purchaser.
4. Purchaser hereby represents and warrants to Seller that there are no hazardous
substances on the property including, but not limited to, asbestos, or PCB in
its various forms.
WORK SESSION FOLLOW-UP
ESTIONS
6/1/90
Page 1 of 2
FOLLOW-UP SOLUTIONS
8/8 WEST INTERMOUNTAIN ANNEXATION
request: Lapin)
2/20 JOINT MEETING COUNCIL/VMRD
2/27 SATELLITE POST OFFICE (request:
Osterfoss)
3/27 COMPENSATION FOR PEC, DRB,
LIQUOR AUTHORITY/RAISING
COMPENSATION FOR MAYOR TO $1,000/
MONTH
4/10 CML CONFERENCE/Colorado Springs
5/8 tENNENBAUM RESOLUTION
5/1 RECYCLABLE PAPER PRODUCTS
(request: Rose)
5/1 ANNUAL CHUCK ANDERSON YOUTH
AWARD (request: Lapin)
5/1 UNUSED COMMON GRFA IN CONDOMINIUM
PROJECTS (request: Lapin)
LARRY: Proceeding w/legal requirements for
annexation.
PAT: Apply in writing to Council re: ground lease
of Booth Creek 9 hole par 3 golf course.
RON: Pursue station "in town" and/or increase
summer bus service?
RON/KRISTAN/LARRY: Should additional compensation
be considered for appointed, standing Town
boards?
COUNCILMEMBERS: Conference will be held June 20-23
this summer - reservations should be made as soon
as possible.
RON: Contact entities re: similar resolution signed
by Eagle County Commissioners.
STEVE BARWICK: What is cost differential and degree
of difficulty involved in purchasing all
recyclable paper products? Has the TOV already
pursued this?
BRIAN JONES/JOANNE MATTIO/PAT: Apparently this
youth award fell through the cracks last year;
pursue selection and presentation for BOTH years.
LARRY/KRISTAN: Devise notification procedure for
individual owners in condo. projects where
collective GRFA may be required on an individual
case-by-case basis. EXAMPLES: Crossroads,
Northwoods
A new advocate for petition circulation is being sought.
Cindy Callicrate to be contacted.
Kent sent letter outlining proposed process to Tim Garton.
VMRD has revised and TOV/VMRD Committee will tentatively
meet Tuesday, June 5, 10:00 a.m., in the Downstairs
Conference Room.
Meeting to be set up with Ernie Chavez.
Will prepare alternatives and recommendation far Council
by 6/15/90. Will prepare ordinance far adoption by
November 1991, re: Mayor.
Ron, Tom, and Larry signed up so far.
Send similar resolutions for their adoption to Aspen,
Crested Butte, CAST, TOA, etc., re: transfers of
publicly held land for personal gain.
Staff will investigate.
Set up meeting w/Kent Rose to select individuals and schedule
for evening Council meeting in June. Caroline Fisher to
submit application.
This will be included with the zoning code revisions.
PIC
5/1 AMEND CODE, 12.04.240, STREET CUT
PERMITS
5/15 REDUCTION OF COUNTY-WIDE LONG
DISTANCE TELEPHONE RATES (request:
Steinberg)
5/15 SITE VISIT FOR MARRIOTT'S MARK
(request: Gibson/Lapin)
5/22 SITZMARK REQUEST FOR SUMMER
PARKING
WORK SESSION FOLLOW-UP
STAN/LARRY/KRISTAN: Per Council direction, proceed.
CHARLIE/STEVE B.: Investigate why the telephone
company is "dragging its collective feet" in
lowering rates for countywide usage?
KRISTAN/MIKE: Alert Council to the PEC site visit
schedule for the proposed Marriott Mark addition.
RON: This letter has been referred to the Parking
and Transportation Task Force for review and
recommendations.
fi/1/9.0
Page 2 of 2
Will be developed by July, 1990.
Will do.
Tentatively scheduled for Monday, June 11. Council to
receive notice.
Parking and Transportation Task Force denied the request and
suggested cooperating with other private lot owners and/or
provide his own valet service. Bob Fritch wants to appeal
to the Council (letters to Council included in your
packets 6/1.
5/22 CENSUS FEEDBACK (request: RON: Tom will speak about this since it's slated Council decided to protest now. Ron to draft letter
Steinberg) for review at the NWCCOG meeting 5/23/90. Ron to outlining problems.
follow up w/CAST re: our local concerns and a
request to redo in this area.
PRESENT:
Steve Simonett
Kevin Cassidy
Bill Bishop
Pam Brandmeyer
AGENDA
SPECIAL MEETING
LOCAL LICENSING AUTHORITY
TUESDAY, MAY 29, 1990
10:00 A.M.
1. Consideration of the Board of the following
modifications of premises:
a. Woo's Co., Inc., dba, the May Palace
Restaurant
b. Up the Creek Bar and Grill, Inc., dba,
Up the Creek Bar and Grill
ABSENT:
Mitzi Thomas
Larry Eskwith
Continued to 6-13-90
Approved Unanimously, 3-0.
2. PUBLIC HEARING - Consideration of the Board of Approved contingent upon
a 1007 transfer of ownership of the Hotel receipt of TOV business
Restaurant held by M.E.L. Enterprises, Inc., dba, license and food service
David's Deli, to HY-C, Ltd., dba, Alfonso Packchez's, license. Unanimous,
at the location of 536 West LionsHead Circle, Vail, 3-0.
Colorado. The officers, directors, shareholders,
and registered manager are as follows:
a. President/Director/58.857 Shareholder -
Roger B. Hyatt
b. Vice-President/Director/25.707 Shareholder -
Cory S. Chambers
c. Secretary/Treasurer/Director/3.097 Shareholder -
Joseph T. Wensus
d. 12.367 Shareholder - P.J. Plauger
e. Registered Manager - Roger B. Hyatt
3. Notification of the Board of recent renewals:
a. Jackalope, Inc., dba, the Jackalope Cafe and
Cantina
b. Village Inn Plaza Liquors, Inc., dba, Village
Inn Plaza Liquors
4. Notification of the Board of sales tax matters
regarding Koumbaros, Inc., dba, the C.J. Capers
5. Any other matters the Board wishes to discuss.
Approved unanimously.
Approved Unanimously, 3-0.
Approved Unanimously, 3-0.
Letter of previous stipulated
agreement to be sent to
licensee.
EAGLE COC]NTY
551 Broadway
Eagle, Colorado 81631
(303) 328 7311
June 4, 1990
Timothy E. Wirth
U.S. Senator for State of Colorado
Senate .Office Building
Washington, DC 20510
Ben Nighthorse Campbell -
U.S. Representative for State of Colorado
House Office Building
Washington, DC 20515
,Kent Rose, Mayor
Town of Vail '
75 S. Frontage Rd. W.
Vail, Colorado 81657
RE: Eagle County Resolution No. 90-60
Dear Sirs:
Enclosed please find an original Resolution
concerning a proposed land exchange between the U.S.
Forest Service and Mr. and Mrs. Michael Tennenbaum which
was adopted May 30, 1990 by the Board of County
Commissioners of the County of Eagle, State of Colorado.
After extensive .review of the proposed land
exchange, the Board of County Commissioners concluded
that it does not support this exchange as it is a
subversion of the integrity of established municipal land
boundaries and established avenues for municipal and
county land use planning and land development. The Board
of County Commissioners also identified that the proposed
land trade establishes an unacceptable precedent which
threatens and undermines the efforts of the Town of Vail
to preserve open space for its community, Eagle County,
and for the State of Colorado.
Board of County Commissioners Assessor Clerk and Recorder Sheriff Treasurer
P.O. Box 850 P.O. Box 449 P.O. Box 537 P.O. Box 359 P.O. Box 479
Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631
Timothy E. Wirth
Ben Nighthorse Campbell
Kent Rose
June 4, 1990 -
Page 2
If you have any questions, comments or concerns
regarding the. Boards' decision, please feel free to
contact me at ( 303 ) 328-7311 (Ext. 515) , or P.O. Box 850,
Eagle, Colorado, 81631.
Sincerely, _
Kevin Lindahl
County Attorney
KL/mpw
Enclosure
cc: William L. Armstrong
Hank Brown
David E. Skaggs
Patricia Schroeder
Dan Schaefer
Joel Hef ley
James R. Fritze
Commissioner ~,~~Tig-~~d ~ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 90-
CONCERNING A PROPOSED LAND EXCHANGE BETWEEN THE
U.S. FOREST SERVICE AND THE TENNENBAUMS
WHEREAS, Mr. and Mrs. Michael Tennenbaum have proposed the purchase and
exchange of approximately 2,000 acres of private land for one acre of United States
Forest Service land located on Rockledge Road at the base of Vail Mountain, in Eagle
County, Colorado (the "Bear Tree Parcel"), and the annexation of said one acre of land
into the Town of Vail; and
WHEREAS, Congressional action has been requested to effectuate this
exchange; and
WHEREAS, the Bear Tree Parcel is located within unincorporated Eagle County
and subject to the land use regulations promulgated by Eagle County pursuant to the.
Colorado Land Use Act; and
WHEREAS, the Board of County Commissioners is not opposed to the concept.
of federal land trades; and
WHEREAS, the Board of County Commissioners and the citizens and visitors of
Eagle County place a high value on the preservation of open space, wilderness areas
and the natural beauty of Eagle County and the State of Colorado; and
WHEREAS, the Town of Vail is a Home Rule municipality under the Constitution
and laws of the State of Colorado with the right and responsibility of maintaining the
integrity of its own boundaries without intervention from other governmental entities;
and
WHEREAS, the Board of County Commissioners supports the concept of
intergovernmental cooperation in planning the use to which land may be put when the
land is contiguous to and under the jurisdiction and control of separate governmental
entities; and
WHEREAS, the County, the municipalities within the County, private land owners,
and the United States Forest Service, work in partnership to preserve the outdoor
experience which millions of individuals enjoy annually in Eagle County; and local
planning processes and zoning regulations are in place to ensure protection of this
natural resource, while providing for controlled growth and development; and
WHEREAS, the Board of County Commissioners encourages the United States
Forest Service to work with local governments adjoining public lands in establishing "no
land-trade zones" for said public lands unless such trades are endorsed by the local
government.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board of County Commissioners does not support the proposed land
exchange, as it is a subversion of the integrity of established municipal land boundaries
and established avenues for municipal and county land use planning and land
development.
THAT, the proposed land trade. establishes an unacceptable precedent which
threatens and undermines the efforts of the Town of Vail to preserve open space for
its community, Eagle County, and for the State of Colorado.
MOVED, READ AND ADOPTED by the Board of County Commission rs of the
County of Eagle, State of Colorado, at its regular meeting held the ~_ day of
May, 1990.
COUNTY OF EAGLE, STATE OF
COLORADO,. By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Jerk to the Board of Donald .Welch, Chairm n
Commissioners
ates, Commissioner
Richard L. G~fafs~fS, Comr~f~sioner
Commissioner _~ ~{-T-P-~ seconded adoption of-fhe foregoi~~ resolution.
The roll having been called, the vote was as follows:
Commissioner Donald H. Welch ~-~ ~
Commissioner George A. Gates ~4-~~e---
Commissioner Richard L. Gustafson ~~ u~~
This Resolution passed by 1~c1~-~%~I~c0u5 vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
-2-
HANK BROWN OFFICE ADDRESS:
4TH DISTRICT, COLORADO 1424 LONGWORTH BUILDING
WASHINGTON, DC 20516
COMMITTEE ON (202) 225-4876
WAYS AND MEANS ~Col~gre~~ of t~je ~l~iteb ~tate~ DISTRICT OFFICES:
1015 37TH AVENUE COURT
SUITE 101A
gouge of ~e~re~elttdtibe~ GREELEY, CO 90634
(303) 352-4112
301 S. HOWES, Roots 203
~~ 20515
~~$~jittQ~tott FORT COLUNS, CO 60521
, (303) 493-9132
243 POST OFflCE BUILDING
Lw JUNTA, CO 81060
(718) 384-7370
311 E PuTTE AvE.
FORT MORGAN, CO 80701
(303) 887-8909
ADAMS AND ARAPANOE COUNTIES
May 2 5 , 19 90 (3D3) z9a-71oo
The Honorable Kent Rose, Mayor
Town of Vail
75 South Frontage Road
Vail, CO 81657
Dear Mayor Rose:
Thank you for your letter apprising me of the
pollution problem with the Eagle River. I appreciate
you taking the time to share your concerns with me
about this important matter.
To express interest, I have sent a copy of your letter
to the Colorado Department of Health asking them to
provide us with their response to your comments.
When we receive a reply, we will be back in touch.
If w ay be of further assistance, please do not
hes' to contact us.
ly,
Hank Brown
Member of Congress
HB/shj
~,
~AGL~ CO~INTY
551 Broadway
Eagle,Colorado 81631
(303) 328 7311
June 4, 1990
Timothy E. Wirth
U.S. Senator for State of Colorado
Senate .Off ice Building
Washington, DC 20510
Ben Nighthorse Campbell -
U.S. Representative for State of Colorado
House Office Building
Washington, DC 20515
,/Kent Rose, Mayor
Town of Vail '
75 S. Frontage Rd. W.
Vail, Colorado 81657
RE: Eagle County Resolution No. 90-60
Dear Sirs:
Enclosed please find an original Resolution
concerning a propased land exchange between the U.S.
Forest Service and Mr. and Mrs. Michael Tennenbaum which
was adopted May 30, 1990 by the Board of County
Commissioners of the County of Eagle, State of Colorado.
After extensive review of the proposed land
exchange, the Board of County Commissioners concluded
that it does not support this exchange as it is a
subversion of the integrity of established municipal land
boundaries and established avenues for municipal and
county land use planning and land development. The Board
of County Commissioners also identified that the proposed
land trade establishes an unacceptable precedent which
threatens and undermines the efforts of the Town of Vail
to preserve open space for its community, Eagle County,
and for the State of Colorado.
Board of County Commissioners Assessor Clerk and Recorder Sheriff Treasurer
P.O. Box 850 P.O. Box 449 P.O. Box 537 P.O. Box 359 P.O. Box 479
Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631 Eagle, Colorado 81631
Timothy E. Wirth
Ben Nighthorse Campbell
Kent Rose
June 4, 1990
Page 2
If you have any questions, comments or concerns
regarding the Boards' decision, please feel free to
contact me at ( 303 ) 328-7311 ( Ext. 515) , or P.O. Box 850 ,
Eagle, Colorado, 81631.
Sincerely, _
Kevin Lindahl
County Attorney
KL/mpw
Enclosure
cc: William L. Armstrong
Hank Brown
David E. Skaggs
Patricia Schroeder
Dan Schaefer
Joel Hefley
James R. Fritze
Commissioner ~~STf~-~sa ~ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 9(~
CONCERNING A PROPOSED LAND EXCHANGE BETWEEN THE
U.S. FOREST SERVICE AND THE TENNENBAUMS
WHEREAS, Mr. and Mrs. Michael Tennenbaum have proposed the purchase and
exchange of approximately 2,000 acres of private land for one acre of United States
Forest Service land located on Rockledge Road at the base of Vail Mountain, in Eagle
County, Colorado (the "Bear Tree Parcel"), and the annexation of said one acre of land
into the Town of Vail; and
WHEREAS, Congressional action has been requested to effectuate this
exchange; and
WHEREAS, the Bear Tree Parcel is located within unincorporated Eagle County
and subject to the land use regulations promulgated by Eagle County pursuant to the
Colorado Land Use Act; and
WHEREAS, the Board of County Commissioners is not opposed to the concept
of federal land trades; and
WHEREAS, the Board of County Commissioners and the citizens and visitors of
Eagle County place a high value on the preservation of open space, wilderness areas
and the natural beauty of Eagle County and the State of Colorado; and
WHEREAS, the Town of Vail is a Home Rule municipality under the Constitution
and laws of the State of Colorado with the right and responsibility of maintaining the
integrity of its own boundaries without intervention from other governmental entities;
and
WHEREAS, the Board of County Commissioners supports the concept of
intergovernmental cooperation in planning the use to which land may be put when the
land is contiguous to and under the jurisdiction and control of separate governmental
entities; and
WHEREAS, the County, the municipalities within the County, private land owners,
and the United States Forest Service, work in partnership to preserve the outdoor
experience which millions of individuals enjoy annually in Eagle County; and local
planning processes and zoning regulations are in place to ensure protection of this
natural resource, while providing for controlled growth and development; and
WHEREAS, the Board of County Commissioners encourages the United States
Forest Service to work with local governments adjoining public lands in establishing "no
land-trade zones" for said public lands unless such trades are endorsed by the local
government.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board of County Commissioners does not support the proposed land
exchange, as it is a subversion of the integrity of established municipal land boundaries
and established avenues for municipal and county land use planning and land
development.
THAT, the proposed land trade establishes an unacceptable precedent which
threatens and undermines the efforts of the Town of Vail to preserve open space for
its community, Eagle County, and for the State of Colorado.
MOVED, READ AND ADOPTED by the Board of County Commission rs of the
County of Eagle, State of Colorado, at its regular meeting held the ~_ day of
May, 1990.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Jerk to the Board of Donald .Welch, Chairm n
Commissioners
ates, Commissioner
L. Gi'~~fafsd~fS, Comr~'i~sioner
Commissioner ~ ~q-T~-~ seconded adoption o~~f-the foregoi~~ resolution.
The roll having b- a called, the vote was as follows:
Commissioner Donald H. Welch ~-~ ~
Commissioner George A. Gates ,4 ~~ ce---
Commissioner Richard L. Gustafson ~Gi ct/-
This Resolution passed by ~1~1-~1~ ~ u 5 vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
-2-
a... .~....+.
MAXIMUM COMFORT POOL & SPA -
40928 U. S. HWY. 6 & 24, AVON, COLORADO 81620
E,4vLE-NAIL BUSINESS CENTER
de~f~C~OX 2666 • NAIL, COLORADO 81658 • (303) 949-6339
Mr. Stan Berryman June 4, 1990
Town of Vail
RE: Intermountain Pool
Dear Stan:
On June 4, 1900, I have visually inspected the remains of the swimming pool located on
Kinnickkinnick Road in the Intermountain Subdivision. The only salvageable part of the
system would be the pool vessel itself and there is some doubt about that since there
is a crack running from the plastered area through the the on the south side pool
wall. This might indicate a structural flaw. It occurs where the pool depth changes
to the deep end. This is a common place for a crack to occur in a unfilled pool that
has been subject to freeze-thaw cycles from season to season. In any event, to make
the pool usable would require a near total rebuilding of .the pool and the equipment.
A total rebuild would include replacing all fittings in the pool walls and floor,
replumbing all new recirculation lines, replastering the entire pool surface, possibly
replacing all the and coping, removal and replacement of all deck areas, removal and
reconstruction of the retaining wall structure on the northwest corner of the facility,
installation of all new pool equipment, i.e., pumps, filters, heater, sanitization
system, etc., and reconstruction of public dressing rooms and restrooms.
Virtually everything except the pool vessel would have to be reconstructed. The pool
vessel itself will require replumbing and resurfacing as well. I estimate the cost to
rebuild this pool facility for public use to be somewhere between $150,000.00 and
$200,000.00. This may seem a relatively high price but when one considers the need to
remove much of the existing building structure and all of the pool deck and reconstruct
most of the existing facility, it should prove to be an accurate estimate.
Having been involved in several pool reconstruction projects here in the Vail Valley, I
believe if this amount to money is to be spent, a more suitable location might be
considered where construction would be less difficult and also suitable parking space
can be provided.
To summarize my evaluation, there is no advantage to using the salvageable pool vessel
to ultimately provide a public swimming pool facility at that location.
If I can be of further assistance should a decision be made to reconstruct this
facility or design and construction of a new facility might be considered. Please
call.
Best Reg ,
Mic ael C. Povroznik
President/Owner
MCP/tkg
~ •ENT OF C~4-
O F~
June 1, 19 9 0 °:~o ~~~
~~*es of ~
Ron Phillips
Town Manager, City of Vail
75 .South Frontage Road
Vail, Colorado 81657
Dear Mr. Phillips:
UNITED STATES DEPARTMENT OF COMMERCE
Bureau of the Census
Regions{ Census Center
Lakewood, CO 80235-2307
RECD J U N - 41990
I am writing to explain the circumstances which caused problems with
mail delivery of census questionnaires in Vail, and to outline census
procedures to assure you of a complete enumeration in Vail.
As you may be aware, many questionnaires mailed to Vail residents were
returned by the Postmaster as undeliverable for various reasons. The
Grand Junction district office staff retrieved the undeliverable
questionnaires and readdressed and re-mailed all the questionnaires.
Of these, many were again returned as undeliverable.
Meanwhile, the Vail Postmaster provided a form D-13, Advance Census
Report (ACR), to every boxholder in Vail. We provided the Postmaster
a quantity of ACRs for areas served by the Vail Post Office which are
not in mail-back census areas. We did not request nor authorize the
Postmaster to mail ACRS to boxholders in mail census areas of Vail,
Unfortunately, since the ACR is intended for use in non-mail census
areas, it contained the message to complete the form, but hold on to it
until a census worker comes to pick it up.
Consequently, some Vail residents received as many as three forms and
in a few instances, some residents did not receive a questionnaire.
Since Vail is a mail census area, we began a follow-up operation on May
3 for every address in our control file for which we had not received a
questionnaire. We are still working in Vail on that procedure.
If any residents are not contacted by mid-June, there is still an
opportunity to be counted during the "Were You Counted?" campaign.
This campaign will allow residents to complete a form and mail it in,
or call a toll-free number to provide information by telephone.
We apclcgize for the carfusion cau ,ed by the problems witri maili:,g~
census questionnaires. However, we wish to reiterate that all
housing units in Vail will be enumerated.
If you have any questions, or if you would like additional information
on how the Town of Vail can participate in the "Were You Counted
Campaign", please call Patricio Cordova,. Regional Census Information
Officer, at (303) 969-7750.
Thank you for your interest in ensuring a complete count for Vail.
Please do not hesitate to call if we can be of assistance to you.
i . 'elY,
William F. dams
Regional Director
w
tuwo
75 south frontage road
vail, Colorado 81657
(303) 479-2100
office of mayor
May 29, 1990
Mr. Andy Wiessner
Kogovsek & Associates, Inc.
1420 Trinity Place
1801 Broadway
Denver, Colorado 80202
Dear Mr. Wiessner:
During the May 21, 1990 debate concerning the Tennenbaum land exchange
you made an allegation which is of grave concern to the Vail Town
Council and which must be clarified for the benefit of all involved in
the issue. In reference to the apparent unavailability of one of the
parcels proposed for the land exchange, you alleged that someone in Vail
had coerced or pressured one of the owners to change his or her mind
about the exchange agreement.
As you know, we received a letter from Mrs. Queeda Mantle Walker, one of
four owners of the Mantle property, which stated the Mantle property was
not for sale. This, of course, contradicts your contention that the
owners of each proposed parcel were committed to the deal. Your
inference that a Town Councilmember, or any other party opposing your
proposal, pressured Mrs. Walker into writing this letter is absurd. We
ask that you retract this false allegation, in writing, based on the
actual facts of the situation. You are inevitably aware of these facts,
however, I will clarify them once again:
Possible problems regarding the availability of the Mantle property were
brought to our attention by Mr. Lou Livingston, a part-time Vail
resident, following Vail's first public meetings concerning the
Tennenbaum proposal. Mr. Livingston indicated he had learned from a
conversation with Mrs. Walker that she knew nothing about the
Tennenbaum's possible purchase of the Mantle Ranch, to be exchanged for
land in Vail.
~.
Mr. Andy Wiessner
May 29, 1990
Page 2
Because her statement did not match the information you had given the
Town Council publicly, we felt it was important to have Mrs. Walker give
us that information in writing. Her first letter, a copy of which you
have, was written at Mr. Livingston's request to Vail Town Manager Ron
Phillips.
Ron Phillips made contact with Mrs. Walker by telephone the week before
the May Z1 Eagle County Environmental Alliance debate to try and clarify
the matter further. The result of that telephone conversation was her
second letter, copies of which were handed out at the debate.
.Since that time, Ron Phillips has also talked with Mr. Tim Mantle by
telephone in an effort to further clarify the Mantle family's position.
I must emphasize that at no time did the Town of Vail contact a member
of the Mantle family, or any other owner, in an effort to change their
mind about making their land available. Our only interest and only
discussions have been an effort to determine the facts in this case and
to clarify what their actual position is regarding the disposal of their
property. Again, we resent your allegation that we have worked to
change anyone's mind, and request that you clarify the facts in this
matter to the Town Council and the news media.
Sincerely,
~ J ~~Y~-
Kent R. Rose
Mayor
KRR/bsc
r._._,~,._.._. ,.... .
^
. c~~es
k
resort assn can't afford to move,
council to pay .cost of office work
by Mark Huffman Mayor Champions ACRA
Ap1ea of poverty by the Aspen Oddly, but luckily. for the
Chamber Resort Association ACRA, it was Mayor Bill Stir-
` Tuesday convinced the city ling who led the debate in favor
council to pay the cost of finish- ' of bailing.. out the `.resort
ing the resort group's new quay- association..
tars in the Rio Grande parking Stirling has. often dueled over
garage. political issues with ACRA, and
" Council's decision to pay up to has frequently been on the
$160,OOOofthefiniahingcostsof receiving end of business-
- the new otlicea for the resort community jabs.
group came after ACRA rape 'But Tuesday he called the
said the association - a combi- subsidy for ACRA "in the long-
°°.:. nation of business marketing term best interests of the town.
group and chamber of commerce "They're top political at times,
~ -said they couldn't come up but they serve a vital function,"
with even a small part of the Stirling said, adding that the
cast. ~ resort group is ' "in jeopardy"
Council agreed after a long because of a bad winter.
and unhappy discussion to pay 'ACRA board chairman Don
~- the price to prepare the unfin- Sheeley blamed a sharp drop in
fished space and to regain only a bookings late in the season for
small portion of the cash the group's current financial
through increased rent. problems.
Until Tuesday's meeting„the WVe do not have'any cash we
' city was going to pay about can put into the move," Sheeley
$100,000, the coat of finishing told the dismayed. council
the apace for any tenant, and not members.
to prepare it for the particular - Who Pays What ''
needs of the ACRA.. Just last week, council and
The space will combine ACRA ACRA officials were haggling
of&cea with its now-separate cem over how. much the resort group
tral reservations division. There could afford and who would pay,
will also be a visitors' informs- what t o p r e p a r e t h e
tion center connected to tie 3,200-square foot space in the
ofSoea. Rio Grande garage.
."~"f~e'~A~rh Ar~io~ I~A2iy~1;'~1990 y`$~h~~sF9-B
^ ^ ~
nic~sin
aor cou c ..
a
ACRA's lease on its Main projec~~ng it would lose only Unhappy Agreement
Street Victorian is up at the end about $1,250 because of poor Despite an eventual unanim-
of May. bookings through its central ous vote by council, there was
Sheeley and ACRA staffer -reservations department. ~ unhappiness.
Tom Hines had to wheedle to get Under the deal that's still tak- Councilwoman Margot Pend-
council to agree to take on the ing form, ACRA will move and leton was reluctant, and after
costs, especially with stall' warn- pay nothing, not even for parti- initial talk of a complete grant of
ings that the city is moving in a tions and phone lines that it was the cost led the way to demand
tenant before there's a lease. promising last week to punch- some partial repayment.
But they pledged the ACRA ass.. Instead, the city will com- "There should be some sort of
payback," she said. "I have a
hard time .being convinced we
should pay for every damn thing
"We'll help. in any way we can -- ' that goes in there."
excepting cash." Councilman Frank Peters
came closest to voting no, .say-
- ACRA board chairman Don Sheeley ing, "I can't tell you how disap-
pointed I am" bythe last-minute
cry of no money from ACRA.
"I think we went pretty far
will act in good faith and said mit to pay up to $160,000 for the last week to close the gap,"-
.. they don't think current finan- -move and the cost of finishing Peters said of negotiations about
cial problems are goinig to last.:. the space. who would pay what. "Now
The group has shown a profit , ACRA will sign an initial five- we're told we have to completely
every year since being created in year lease that calls foT a first- close the gap or it's no deal."
its current form in 1983, Hines year rent of $30,000, with that And, noting ACRA money
said. Only because of a poor amount to increase each year problems, he called the council's
winter is ACRA having to beg, according to the Consumer Price commitment a "tremendous. act
he said. Index. In the second year of the of faith.
"Because of this one single lease, ACRA will begin repaying "Instinct tells me no com-
year out of seven we're not in a -the cost of the, partitions and ~ ..promise, forget it," Peters said.
position to be cash providers for,. phone service. "But I'll support it"
this move,°.. Hines said. ~ ACRA now pays $22,000 a
"We've had one bad year. I'd ACRA's Hines estimated was Year for its Main Street main
hate to see this ruin everything." ' hopeful that combined cost office and also has free apace
Sheeley said. "We'll help in any would be less than $25,000. from the city for the building on
way we can -excepting cash." Others put. it at closer to Aspen Street where its central
Deep lited $40,000. - reservations office is located.
The ACRA finished the year .The deal includes two five- Total. space in the two locations
$343,000 in the red after earlier year options, is about 3,600 square feet.
- wvy
RECD JUN - 4 ~qgp
ROARING FORK FORUM
P.O. BOX 5010 SNOWM?~SS VILL~-GE, CO 81615 (303) 923-3777
TO: Roaring Fork Consensus Members
FROM: Carol O'Dowd, Coordinat`Z/~ ~~
DATE: May 31, 1990
RE: ROARING FORK FORUM OPERATIONS AND ORGANIZATIONS
-------------------------------------------------------------------------------------------
I apologize for not sending this notification to you sooner; however my transition _
occupied more of my time than I had expected. Although I am not entirely
organized, I am attempting to get back into the swing of things.
As you directed at our first meeting a little over a year ago, we have operated on a
strictly voluntary nature and on a trial basis. Some of the Mayors and Managers in
the valley met last week to discuss how the forum should continue for the
upcoming years: The consensus of that group was to recommend to you that the
forum continue on an informal basis with volunteer staffing arrangements with the
Roaring Fork managers. The one change recommended was that the forum file
with the state and obtain a Tax ID number. Also, they recommended use of the
operating rules that were adopted by consensus at the first meeting. I have
attached the operating rules for your reference.
When the forum was first created, we had one overriding goal. That goal was to
promote intergovernmental cooperation ors valley-wide issues without creating
another layer of government. In addition, you identified three specific issues for
the forum to address. These issues are: housing, transportation, solid waste. The
issues of solid waste and transportation are large enough to keep us busy for the
upcoming year. Therefore, we are recommending you to direct that the forum to
continue with the same goals and operating proced~~res as it has fur the past year
and a half. However, we do have recommendations that might improve our efforts.
We recommend an annual meeting schedule focusing efforts on transportation and
solid waste. A regular newsletter be distributed bi-monthly, that forum information
items be included on local council and commission agendas, and lobbying efforts.
Finally, the new activity we are proposing is an annual Forum meeting which will
encourage attendance by the entire membership of each council/board.
Our first regularly scheduled meeting will be June 14, 1990 at 6:30 p.m. and will
be held at the Basalt Town Hall Commissioners Room. Attached is a copy of the
Forum agenda. .
If you have any questions, please call me at 920-5199. Thank you.
MEMBffit GOV'ERNl~NTS
GARFIELD COUN'~'v s lAGLE QTY • pITKIN COUNTY
GLENWOOD SPRINGS • CARBONDALE • 11SPEN • SA.SJILT • SNOWNl1SS VILLJIGE
ROARING FORK FORUM
P.O. BOX 5010 SNOWIS?-SS VILLP-GE, CO 81615 (303) 923-3777
Roaring Fork Forum Agenda
June 14, 1990
Agenda
7:00 p.m. I. Introduction
II. Review of May 23, 1990 Meeting Summary
7:10 p.m III.. Solid Waste Committee Report
-- Funding for Engineering Specifications
Davis Farrar, Jim Duke
8:00 p.m. N. Regional Transportation System Objectives
-- Review of Project Managers Job Description
-- Review of Role of Forum
Carol O'Dowd, Dan Biankenship
8:30 p.m. V. Forum Operation and Organization
-- Goals
-- Operating Procedures
-- Membership Categories
-- Schedule for 1990-1991
MEPIBffit GOVERNNEI~TS
GARPIELD COUM'"r • E1~GLE COUNTY • DITKIN COUNTf
GLENWOOD SPRINGS • C]1RSONWILE • ASPEN • 8]~SALT * SNOitN11.S3 VILLJIGE
SUMMARY OF
ROARING FORK FORUM
FEBRUARY 22, 1989
PURPOSE
After a brief introduction of attendees (see attached list) the
group discussed its goal and purpose as provided in the agenda
packet. The group agreed to create a Roaring Fork Forum with the
following purpose statement:
The consensus was to try to address problems via the Forum
for a trial period of one year with monthly or bi-monthly
meetings.
MEMBERSHIP
Other comments on the purpose and operating .structure included
concerns about not allowing it to become a new .valley super
government. The desire of the group was to use the Forum
opportunity to solve valley wide problems without creating a new
mega-government or another bureaucracy.
The financial commitment of the members was agreed on being
contribution of their respective staffs time.
The operating structure for the Forum which was agreed to was:
Each incorporated government in the Valley will be
responsible. for designating an elected official, and an
advisory representative(s) as needed to participate in
Council meetings by issue. Therefore, Councils are not
expected to designate one elected official to attend all
meetings. Elected officials interested in a particular
issue can attend those meetings on the issue of interest..
Elected officials will serve as the consensus decision
making group.
The advisory representative's positions may be used by
communities to include key people that may have an impact on
a particular issue. The representatives may be citizens of
the community who represent an organization or group of
citizens actively working on the issue being addressed by
the Council. For example, in addressing solid waste, a
Council may want to designate a member of a volunteer group
that has organized recycling efforts. Also, communities
may want to include key people that may have an impact on a
particular issue. For example, on a discussion of Hic}~ay
82 improvements, a community may want to invite a Highway
Department representative, senator, major land
ownerjdeveloper or local organization. The only commitment
of the government members will be that they. insure active
r .
FSUM2-22
Page 2
participation at meetings by at least one elected official.
Decision Making
Decisions should be reached
used. The meetings will be
Requirements
Local governments must send
and their Manager or the Ma'.
official to each meeting.
by consensus. Voting will not eb
informal.
at least one elected official
Wager's designated elected
Staf f ina
Managers of the local governments serve as the technical
staff to the Council. They will participate at meetings and
coordinate assigned work projects and draft proposals for
Council approval.
in7ith regard to costs for projects undertaken by the Forum, the
group agreed to make grant applications to various agencies such
as the Aspen Foundation and the Kellog Foundation as appropriate.
Seed money from each government will not be expected other than
staff time contributions for the immediate future. No big money
will be requested the first year.
The first year will focus on projects that require minimal cost
such as solid waste and recycling. For example, projects would
include distributing mailings, maps, etc. to the public.
Operating Structure
The group agreed that the consensus group will be• elected
• officials. The advisory group will fluctuate with representatives
from entities such as U.S.F.S., water and sanitation districts,
citizen activists etc. The staff group will be composed of the
managers and their designees. The meeting topic will be selected
at-each meeting. Staff will frame issues and bring recommendations
for specific actions to the Forum. Each local government should
send one representative. The Forum meetings will work towards.
accommodating differences between entities. Forum members will be
.responsible for taking recommendations to their local council and
then bringing their local council's views back to the Forum. If
consensus cannot be reached, then the Forum would not address the
issue. If the Forum is successful, it may be appropriate to
operate by vote later. If one given entity does not agree, the
consensus can be that the other entities will proceed with a
particular proposal.
The overall benefit will be to solve problems and talk about them.
By shifting elected officials participation, elected
.
FSUM2-22
' Page 3
officials may not have the continuity that a group has with always
the same members.
....After some discussion, the consensus was that the chance would
bring different perspectives to the meetings. Different elected
officials are interested in different topics.- Also, the agreement
was that the staff will provide continuity.- The Advisory group
members will not usually participate in the consensus group unless
appointed to do so by elected officials.
The final agreement was to experiment with the Forum process. It
will be loose, relatively informal and operate without a majority.
rule.
The group discussed the relative spheres of influence between the
valley communities.
Proposed Meeting Dates
June 14, 1990 -- Basalt Town Hall Commissioners Room
September 13, 1990 -- Carbondale Town Hall Meeting Room (not confirmed)
January 10, 1991 -- Carbondale Town Hall Meeting Room (not .confirmed)
March 14, , 1991 -- Carbondale Town Hall Meeting Room (not confirmed)
Newsletters
Bi-monthly 1!?ewsletters to be. distributed beginning July, 1990. Information for
the newsletter to be recieved by Keren Martin, City of .Aspen, City Manager's
Office, 130 South Galena Street, Aspen, CO 81611, by June 28, 1990.
RESOLUTION N0. 13
Series of 1990
A RESOLUTION THANKING AND ACKNOWLEDGING HERB AND NICHOLE
WERTHEIM FOR THEIR CHARITABLE CONTRIBUTION FOR THE VAIL
CULTURAL ARTS CENTER.
WHEREAS, the Town Council and the Vail community has expressed a strong interest
in the development of a cultural arts facility within the community; and
WHEREAS, the Herb and Nichole Wertheim Foundation has generously offered a one
million dollar charitable contribution to the Town of Vail for the development of a
cultural arts center; and
WHEREAS, the Town Council wishes to accept the contribution of the Wertheim
Foundation and acknowledge the generosity and foresight of Herb and Nichole
Wertheim.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, that:
1. The Vail Town Council hereby acknowledges the generosity and foresight of
Herb and Nichole Wertheim in offering a one million dollar contribution for the Vail
Cultural Arts Center and hereby expresses its sincere thanks and appreciation to
Herb and Nichole Wertheim.
2. The Town Council accepts the charitable contribution of the Wertheim
Foundation and recognizes that it is the goal of the Wertheims to begin construction
on a cultural arts and convention facility no later than 1991.
INTRODUCED, READ, APPROVED AND ADOPTED this day of 1990.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
k
RESOLUTION NO. 14
Series of 1990
A RESOLUTION SETTING FORTH THE INTENTION OF THE TOWN COUNCIL OF
THE TOWN OF VAIL TO MAKE CERTAIN LAND AVAILABLE FOR THE DEVELOPMENT
AND CONSTRUCTION OF A VAIL CULTURAL ARTS CENTER.
WHEREAS, the Town Council and the Vail community strongly supports the
development and construction of a cultural arts facility; and
WHEREAS, the Herb and Nichole Wertheim Foundation has generously made a one
million dollar charitable contribution to the Town of Vail for the development and
construction of a Vail Cultural Arts Center; and
WHEREAS, the Town Council, the Vail Valley Foundation, the Vail lodging
community, and other business interests in Vail have committed at least twenty-five
thousand dollars for preliminary analysis and development of a cultural arts center;
and
WHEREAS, the Town Council wishes to solicit additional private contributions for
the construction and financing of operations for a cultural arts center; and
WHEREAS, the Town Council wishes to set forth its intent to make certain land
available for the construction of the Uail Cultural Arts Center, which land is
located between the Lionshead Parking Structure and the John Dobson Ice Arena.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, that:
1. The Vail Town Council hereby sets forth its intention to provide the land
it owns between the Lionshead Parking Structure and the Dobson Ice Arena for the
development and construction of a Vail Cultural Arts Center subject to:
A. Preliminary analysis indicating the feasibility for such a cultural
arts center.
B. The completion of a design and site plan for the Vail Cultural Arts
Center which is acceptable to the Town Council.
C. The receipt of private charitable contributions to finance both the
construction and operations of the Vail Cultural Arts Center which is deemed
sufficient by the Town Council.
D. A written agreement between the Town Council and an appropriate party
for the ongoing operation of the Vail Cultural Arts Center.
INTRODUCED, READ, APPROVED AND ADOPTED this day of 1990.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Cierk
4
'~\~/
VAIL VILLAGE INN
Village Inn Plaza Condominiums
June 4, 1990
Dr. Thomas Steinberg
Vail Mountain Medical
181 W. Meadow Drive
Vail, CO. 81657
Dear Tom:
....,..;~ ....~p:~~, , ,..
REC'0 JUN - 51990
It is my understanding that some members of the Council and Town staff are
proposing to resell the recently purchased Edwards property in light of ._
the failed bond election.
I hope these rumors are unfounded and that the Town of Vail will not
only continue owning the property but make it useable as soon as
possible by providing a few neighborhood softball fields at a nominal
cost. Since there is an acute shortage of softball fields, there is
every justification for the Town to provide more. since most of the
people using them are either in business or work in the Town of Vail.
I am writing to you personally because you were on the Council when I
originally suggested that the Town of Vail should buy Ford Park.
Although the then Town Manager's reaction was that the Town of Vail
should not be in the "business of buying real estate", it was with
the help of yourself and then Councilmen Langmaid and Donovan that
we were able to bring the issue to the citizens of Vail for a vote.
The vote to purchase Ford Park was 207 for, and 37 against.
Although some questions were raised at that time as to what the Town would
do with that property, 15 years later the Town of Vail without Ford Park
would be inconceivable. I predict that the Edwards property will play an
important role in the near future, and even if there are no concrete plans
for its use right now, its potential will materialize by itself. Uses
which, at this time, we cannot envision, will become of vital importance
to our community in the future. -
I urge you to share a little bit of history with the rest of the Council
and hopefully convince them that the ownership of the Edwards property is
a matter of great importance to the Town of Vail.
P
Since e y yours,
i
Josef; taufer
~, i
Copy ~ ~~Council Members -Town of Vail
The Vail Daily
The Vail Trail
,,
100 East Meadow Drive Vail, Colorado 81657 (303) 476-5622
RECD J U N - 41990
COLORADO WEST PROFESSIONAL COUNSELING CENTER
an affiliate of Colorado West Regional Mental Health Center
P.O. Box 1620
Eagle, Colorado 81631
Telephone (303) 328969
YOU ARE INVITED TO...
A PUBLIC FORUM
Presented by
COLORADO WEST REGIONAL MENTAL HEALTH CENTER
June 22, 1990
HOLIDAY INN AT VAIL
395 E. Lionshead Circle
Vail, Colorado 81657
Telephone (303) 476-0930
On June 22, 1990, the Board of Directors of Colorado West Regional Mental Health
Center will convene in Vail. The Board is inviting people from Eagle County
to attend a public forum to provide feedback and constructive suggestion s
regarding the services this agency provides through Colorado West Professional
Counseling Center.
The meeting will begin at 7:30 p.m. at the Holiday Inn at Vail. If you are
unable to attend, please convey comments verbally or in writing to me through
Colorado West Professional Counseling Center at 476-0930 or 328-6969. Judy Bapp
will be glad to take your message.
Thank you for your interest. Hope to see you the 22nd.
Sincerely,
/ ~T
_-- Nuffer~; L~S1~
Assistant Executive Director
VAIL VALLEY
EMPLOYEE HOUSING
PROPOSAL
PRESENTED BY:
PROFESSIONAL DEVELOPMENT CORPORATION
6685 QUINCE ,SUITE 111
MEMPHIS, TENNESSEE 38119
TABLE OF CONTENTS
1. PROPOSAL
2. EXHIBIT - A DEVELOPER'S RESUME
3. EXHIBIT - B BOND FINANCING WITHOUT ASSISTANCE.
4. EXHIBIT - C RENTS WITH D.O.L.A. GRANT OF $500,000.00
5. EXHIBIT - D RENTS WITH D.O.L.A. GRANT AND NO LAND COST.
6. EXHIBIT - E UNDERWRITER'S RESUME
7. EXHIBIT - F ARCHITECTURAL FLOOR PLANS AND ELEVATIONS
' VAIL VALLEY MULTI-FAMILY HOUSING
' PROPOSAL:
TO SECURE AN INDUCEMENT RESOLUTION FOR INDUSTRIAL REVENUE BONDS FOR
THE DEVELOPMENT OFMULTI-FAMILY HOUSING IN THE VAIL VALLEY.
' ~~
AFFORDABLE HOUSING FOR THE EMPLOYEES IN THE VALLEY, A NEED OFFICIALLY
RECOGNIZED BY THE COLORADO DEPARTMENT OF LOCAL AFFAIRS (DOLA) &
' COLORADO HOUSING AND FINANCE AUTHORITY (CHFA).
DEVELOPMENT:
' PRIVATE DEVELOPER WITH EXTENSIVE EXPERIENCE IN MULTI-FAMILY HOUSING.
SEE RESUME OF PROFESSIONAL DEVELOPMENT CORPORATION EXHIBIT -A.
FINANCING:
NO LOCAL FUNDS REQUIRED ; NON RECOURSE ,TAX EXEMPT BOND ASSISTANCE.
(a.) IF A GRANT IS RECEIVED FROM DOLA TO ASSIST IN THE DEVELOPMENT
OF THE SITE ,LOCAL COUMMNITY MAYBE REQUIRED TO PROVIDE
SOME WAIVERS OF FEES, AND/OR ;
~ (b.) PROVIDE SITE FOR PROJECT.
TOTAL UNITS: THREE HUNDRED AND FOUR (304)
a. 100 EFFICIENCY (20%) LOW (NOME 20 UNITS
b. 100 ONE BED ROOM (20%) LOW INCOME 20 UNITS
c. 104 TWO BEDROOM (20%) LOW INCOME 21 UNITS
FEASIBILITY:
EXHIBIT - B DEMONSTRATES THAT THE PROJECT WORKS WITH BOND FINANCING
WITHOUT ASSISTANCE FROM DOLA IN THE FORM OF A GRANT.
EXHIBIT - C DEMONSTRATES THE LOWER RENT LEVELS FOR THE PROJECT WITH
THE DOLA GRANT OF $500,000.00 .
' EXHIBIT - D DEMONSTRATES THE RENTAL STRUCTURE WITH THE DOLA GRANT AND
COMMUNITY SUPPORT IN THE FORM OF WAIVER OF FEES AND WITH A SITE PROVIDED
AT NO COST TO THE PROJECT.
INDUSTRIAL REVENUE BONDS:
ISSUED BY LOCAL COMMUNITY. (NON-RECOURSE)
' UNDERWRITER:
MORGAN KEEGAN & COMPANY: SEE EXHIBIT - E.
BOND COUNSEL:
KUTAK,ROCK AND CAMPBELL, DENVER OFFICE.
' FEES:
ALL OF THE LOCAL BOND ISSUE FEES WII I BE BORNE BY THE PROJECT.
ARCHITECTURE:
DESIGN WILL CONFORM TO LOCAL COMMUNITY AESTHETIC VALUES.
' SEE EXHIBIT - F FOR FLOOR PLANS AND ELEVATIONS.
SITE:
THE PROJECT DESIGN WILL ENABLE IT TO BE LOCATED ON EITHER A SINGLE OR
' MULTIPLE SITES.
' EXHIBIT A
RESUME
^ PROFESSIONAL DEVELOPMENT CORPORATION
PROFESSIONAL DEVELOPMENT CORPORATION is a Tennessee Corporation.
' It was formed in 1980 and has developed sixty (60) million dollars
in rental housing, single family housing and retail space.
Financing for its developments has been secured from the Department
of Housing & Urban Development, The Department of Agriculture,
' Farmers Home Administration, Tax Free Municipal Bonds, and
Conventional Lenders, with recourse and non-recourse funding.
' Professional Development Corporation has developed the capability
to develop, construct, finance, own, and manage all its properties,
regardless of size, location, or type of development. The
management of these projects is under contract to Campbell
Properties, a sole proprietorship owned by Thomas H. Campbell,
which has an established home office staff to handle this function.
Professional Development Corporation throughout its history, has
maintained a policy of close contact with the management of all its
projects to assure compliance with all the regulatory agreements,
requirements of the lenders, FMHA, and HUD guidelines, and to
assure the financial and physical stability of all its projects.
Professional Development Corporation has never had a project fall
into a cash deficit position, for had a project in default of any
of the above regulatory agreements.
THOMAS H. CAMPBELL
Mr. Campbell is, by degree, an Electrical Engineer, with a B.S. in
Electrical Engineering from Christian Brothers College, 1959. He
was the owner of Campbell & Campbell Consulting Engineers from 1963
to 1972, and was involved in the Architectural Engineering of
various projects, a partial list of which is attached, representing
a cross section of the various projects.
Since 1972, Mr. Campbell has been involved in the real estate
development business, and was the President of UMIC Real Estate
Development Corporation from 1976 to 1980. While serving in this
position, he was involved in the development of approximately 3000
units of housing.
From 1980 to present, Mr. Campbell has been the President and
Chairman of Professional Development Corporation, and has developed
approximately $60,000,000 in new developments, incorporating some
1600 units of housing, 150,000 square feet of retail space and
several single family subdivisions and single family housing.
C
Mr. Campbell is 58 years of age, and carries $1,700,000 of key man
insurance for his company. All construction is personally
monitored by Mr. Campbell, and the company~s Project Managers.
Personal inspections of all occupied projects are made by Campbell
Properties staff on a monthly basis.
A list of the properties developed by Professional Development
Corporation and managed by Campbell Properties follows:
' LOCATION
UNITS
24
36
147
78
40
50
25
25
48
48
37
36
31
396
12
37
98
80
24
48
32
50
50
36
37
FORT MORGAN, CO 25
THE WILLOWS, MPHS (S.F.) 56
THE WILLOWS, MS (S.F.) 84
ROSEDALE, MS
DREW, MS
MEMPHIS, TN
IUKA, MS
CLEVELAND, MS
HOLLY SPRINGS, MS
BYHALIA, MS
RED OAKS, MS
HORN LAKE, MS
GREENVILLE, MS
FORREST CITY, ARK
WINDSOR, CO
BERTHOUD, CO
MEMPHIS, TN
FT. LUPTON, CO
CLEVELAND, MS
MEMPHIS, TN
TUNICA, MS
WEDOWEE, AL
DALEVILLE, AL
MEADOWOOD, AL
SUNRISE I
SUNRISE II
EAGLE, CO
LAMAR, CO
DATE OCCUPANCY MORTGAGE*
1981
1982
1984
1983
1983
1983
1984
1984
1984
1985
1985
1984
1984
1985
1985
1986
1986
1986
1985
1985
1985
1986
1986
1986
1986
1986
1987/88
1989/90
1989
1989
1989/90
98~
92~
98~
96~
98~
98~
98~
98%
98~
98~
98$
98~
98$
98~
98~
98~
98~
98~
88~
98~
98~
98~
97$
98~
98~
98~
100
(U.C.)
100
(R.S.)
(R.S.)
$537
$865
$5,050
$1,443
$1,045
$1,083
$660
$663
$1,292
$1,283
$1,120
$1,193
$958
$7,254
$300
$989
$6,400
$2,376
$584
$1,045
$580
$1,268
$1,305
$1,031
$989
$800
$1,548
$ 958
$369
$3,300
$3,700
LAJUNTA, CO 24
WESTWIND, MS 92
WILLOW GROVE, MPHS. (S.C.)
* Thousands
(S.F.) - Single Family subdivision and Single Family residences.
(S.C.) - Shopping Center
(R.S.) - Renting Stage
(U.C.) - Construction Stage
r
LIST OF PROJECTS:
APARTMENTS
Amarillo, Texas
Little Rock, Ar.
Albuquerque, N.M.
El Paso, Texas
Lexington, Ky.
Louisville, Ky.
Evansville, Ind.
Nashville, Tn.
Hot Springs, Ar.
NURSING HOME FACILITIES:
12-story high-rise
12-story high-rise
10-story high-rise
10-story high-rise
14-story high-rise
10-story high-rise
12-story high-rise
12-story high-rise
12-story high-rise
Greenville, N.C. Fairhope, Alabama
Richmond, Virginia Spartanburg, S.C.
Towson, Md. Columbia, S.C.
Cherry Hill, N.J. Wilmington, S.C.
Greensboro, N.C. Tampa, Fla.
Winston-Salem, N.C. Lafayette, Ind.
Gastonia, N.C.
MOTEL PROJECTS:
Miami Springs, Fla. Bloomington, Ind.
Tucumcari, N.M. Shreveport, La.
Lancaster, Ohio Indianapolis, Ind.
OFFICE BUILDINGS:
Cincinnati, Ohio 3 five-story
Indianapolis, Ind. 12 story
Louisville, Ky. 5 story
Paducah, Ky. 4 story
Kansas City, Mo. 5 story
St. Louis, Mo. 5 story
Houston, Texas 3 story
Atlanta, Ga. 10 story
New Brunswick, N.J. 6 story
Memphis, Tn. 14 story
SCHOOL PROJECTS:
(Architectural Engineering Design)
' Twelve (12) in the Memphis, Shelby County Area
EXHIBIT - B
NON-RECOURSE BOND FINANCING
EXHIBIT B
PROFESSIONAL DEVELOPMENT CORPORATION
VAIL COLORADO 304 UNITS
USE OF FUNDS $15,000,000 100.00$
ISSUANCE COST (UNDERWRITER) 300,000 2.00$
LAND 2,920,500 19.47$
CONSTRUCTION 8,085,000 53.90$
ARCHITECT 280,500 1.87$
CONSTRUCTION INTEREST 1,713,000 11.42$
DEVELOPERS COUNSEL 54,000 0.36$
BOND COUNSEL 63,000 0.42$
BOND PURCHASERS COUNSEL 31,500 0.21$
DEBT. SERVICE RESERVE 1.,500,000 10.00$
ISSUERS COUNSEL 37,500 0.25$
TRUSTEE 4,500 0.03$
TRUSTEES COUNSEL 6,000 0.04$
BOND PRINTING 3,000 0.02$
OFFICIAL STATEMENT 1,500 0.01$
TOTAL $15,000,000 100.00$
5/31 /90
PROFESSIONAL DEVELOPMENT CORPORATON
6685 QUINCE ,SUITE 111 EXHIBIT - B
MEMPHIS, TENNESSEE,38119
TEL 901-753-1100 FAX 901-753-1127
VAIL, COLORADO
PRO FORMA OPERATING STATEMENTS
REVENUE
RENTS
20 EFFICIENCY CHFA $323 77,520 0.71
20 1 BEDROOM CHFA $347 83,280: 0.60
21 2 BEDROOM CHFA $416 104,832 0.55
80 EFFICIENCY $582 559,065 1.28
80 1 BEDROOM $742 712,317 1.28
83 2 BED ROOM $971 966,716 1.28
304 GROSS INCOME 2,503,730
VACANCY ALLOWANCE 5% ($125,175)
NET OPERATING INCOME 2,378,556
EXPENSES
OPERATING EXPENSES 486,400
AMOUNT AVAILABLE FOR DEBT SERVICE 1,892,156
DEBT. SERVICE RATIO 1.25
VAIL300R.XLS 1
5/30/90
'
PROFESSIONAL DEVELOPMENT CORPORATON
6685 QUINCE, SUITE 111
MEMPHIS, TENNESSEE,38119
' 901-753-1100 FAX 901-753-1127
' VAIL COLORADO
CONSTRUCTION COST BREAKDOWN AND LAND VALUE
'
THE FOLLOWING ESTIMATED COSTS WERE OBTAINED FROM THE OWNER'S
RECORDS AND INFORMATION, AND REPRESENT THE OWNER'S ESTIMATE OF
' OR THE ACTUAL COSTS.
% COST
' TOTAL OF TOTAL PER S.FT.
LAND /OFF SITE IMPROVEMENTS $2,920,500 19.47% 7.00
HARD COSTS
' SITE UTILITIES 275,419 1.84% 1.51
PAVING 436,020 2.91% 2.39
' SITE IMPROVEMENTS 215,630 1.44% 1.18
BUILDINGS 7,157,931 $8,085,000 53.90% 39.17
' SOFT COSTS
o.ao°i° o.oo
ARCHITECT/ENGINEER 280,500 1.87% 1.53
' UNDERWRITER 300,000 2.00% 1.64
LEGAL,ETC 201,000 1.34% 1.10
$781,500 5.21 % 0.00
INTEREST
' 0.00% 0.00
INTEREST 3,213,000 $3,213,000 21.42% 17.58
' BOND/LOAN $15,000,000 73°k 82.08
TOTAL PROJECT VALUE $20,455,735 100% 111.94
VAIL300R.XLS 1
1
1
5/30/90
VAIL COLORADO
ANNUAL OPERATION & MAINTENANCE EXPENSES:
CARETAKER 31,616
SUPPLIES 2,432
PAINTING & DECORATING 13,376
GENERAL MAINTENANCE 12,160
GROUNDS MAINTENANCE 38,912
SERVICES 9,728
FURNITURE & FURNISHING RELACEMENT 0
MISC OPER. COST 4,864
SUB TOTAL 113,088
0
ELECTRICITY 27,968
WATER 17,024
SEWER 17,024
HTR.FUEVOTHER (TELE.) 0
TRASH REMOVAL 7,904
SUB TOTAL 69,920
0
MANAGER SALARY-RESIDENT 26,266
MANAGEMENT FEE 84,050
ACCOUNTING 7,296
LEGAL 3,648
OTHER ADMINSTRATIVE 6,080
SUB TOTAL 127,340
0
REAL ESTATE TAXES 95,213
SPECIAL ASSESSMENTS 0
OTHER TAXES FEES PERMITS 0
SUBTOTAL 95,213
0
PROPERTY INSURANCE 77,192
COMPENSATIONS 0
BOND PREMIUMS 3,648
SUB TOTAL 80,840
0
INTEREST EXPENSE 0
OTHER EXPENSES 0
SUB TOTAL 0
0
TOTAL $486,400
VAIL300R.XLS 1
' 5/30/90
' CONSTRUCTION TRADE ITEM BEAKDOWNS
~ PROJECT: VAIL COLORADO
TRADE ITEM AMOUNT
1
2 LANDSCAPING
3 INT. TRIM DOORS WINDOWS
4 CABINET-TOP-VANITY-PANTRY
5 INSULATION
6 CAULKING & SEALANTS
7 FINISH HARDWARE
8 DRYWALL
9 CARPET
10 PAINTING
11 FIREPLACE
12 HOUSE NUMBERS
13 TOILET ACCESSORIES
14 MIRRORS
15 METAL CLOSET SHELVING
16 KITCHEN EQUIPMENT
17 PLUMBING
18
19 ELECTRICAL
20 CEILING FANS
21 CONCRETE/STEEL
22 CERAMIC TILE
23 ROUGH CARPENTRY
24 ROOFING/SHEET METAL
25 GUTTERS & DOWN SPOUTS
26 MISC.
27 SEWER/WATER/STORM
28 WALKS
29 PAVING GRAVEVDIRT
30 BLINDS
31 PLAYGROUND
32
33
34 GENERAL REQUIREMENTS
35 GENERAL OVERHEAD
36
37 TOTAL 8,085,000
VAIL300R.XLS 1
J
'
' REMiKS - Jo It-07
Isle of NNl frialoots 12-11
IaloolClfARo{orls 01-10
-~_-~ _ ----
IMCINE 1 IE1T Ti1lE
/F MEIIAM INCiME 14
MYI'1 lIN-INCINE
IINITi q03 1F NEIIINI
l PERSQN 2 fE1i0M 3 PEISON 1 /ERS01
F11 503 iNi 113
MIYIEMIl1 ilfE
MItINNN
0 INMM 1 YRII
ENTS
2 iiRM 3 IIRN
MCONE UNITS
1 PEISOM 2 PERSON 3 PERSON 1 PEASOM S PER;
Corley 11/.951 117,IN H4.IN 121,351 SOI 1231 1251 1300 1317 19,311 110,6N 112,000 113,311 011,1
183 12N 0300 1310 N11 111,213 112,125 111,100 011,013 Oq,;
Crslar {!4.150 117,IN ON,211 /21,350 S13 0231 1250 13N 1317 11,341 110,6N 012,ON /13,3N 111,1
_ 101 0211 13N 1319 N11 111,213 112,!25 111,100 116,OIJ 111,;
' Ielta I11,t50 117,tN 114,2N 021,IS1 303 1231 1250 13N {317 N,3N 010,6N 112,ON 013.311 111,4
IOI 02N 1300 13N N11 011,213 112,125 111.100 111,013 117,7
Ialcres 111,450 017,IN 111.211 121.331 S03 1231 12`,'0 1100 1311 19,344 11/,6N 112,001 113,31/ 011,1
103 0211 13N 1311 M11 111,!13 112,i2S 0!1,100 111,013 117,2
Exile ~ IIO,)N 123.IN 121.IS1 024,111 303 1323 1317 N11 N/1 112,131 111,113 111,156 OIi,SN 111,9
' 103 A11 N11 fS00 1377 IIS,523 117.775 119.911 /22,2N 123,1
Ellort 117,151 111.451 122.150 021,461 54-1 OI13 1241 0351 NOS •10.101 112,/N 111,031 011,511 116,1
Ml R2I ONt N21 04e17 il3,OM 111,463 IIL,131 111,113 020,2
' Frooosrt ~ 01/.151 111,IM 019.210 021,351 503 1231 1250 0,100 1311 N,311 010,6N /t2,eN 113,311 111,1
i0i 1211 1100 13N N11 11!.217 112,125 111.101 111,013 117,2
iariiele It1,IN I21,0S0 123,130 121.310 SOt 02N 13N 1370 1427 III,S00 III,IS6 111,111 111,131 117,7
103 0311 1370 N13 K13 013,100 115,111 117,731 014,123 021.3
iil0io 011.150 OII,M1 112.161 02!,511 103 0211 12/7 1315 0391 010,711 112,231 013,111 115,313 OILS
' 103 1322 O31S NI1 N71 112,N3 111,1N 111,531 111.375 119,1
iraal 111,101 f21,OS0 t2I.IS0 121,111 i0i i2N 1311 1371 N27 111,501 113,IS6 111,711 011,131 117.7'
103 1315 "1310 N13 1513 /13,N4 015.1/1 011.131 111,723 121,3
iwaisa 111,1N 120,250 i22,7S0 12S,3N 103 0211 1211 1355 N11 011,063 112,151 011,219 IIS,t q 017,0
M1 1332 1351 NI) Nt3 113,2>S OIS,IN 117,013 111,175 120,1
' Niasl~la 011,154 Ol7,lN 111,2N IIl,3S0 511
1411 1231
0210 O2S0
13N /3N
13M 1317
Nlb 19,341
111,213 110,610
/!2,123 112,100
/U,100 113,341
011,013 111,1
011,2'
Nuerlaao 111,950 111,100 It1,2N 121,IS0 S03 1231 1254 13N 1311 19,311 /11,610 112,000 /tJ,314 114,1.
NI 1210 1300 0360 N16 111,213 112,125 011,100 11/,013 117,2'
' iutsaa 115,1`.A Oli,lN 110,410 122,650 SO3 0241 1265 O;t1 1361 19,106 111,313 /II,7S0 011,156 015,21
603 1241 1311 0313 N/2 111,111 1 W,S75 015,300 116,9N 1I1,3~
Kiaa 11/,950 117,100 114,2N 121,350 SOi f:;4 1P50 1;04 I;/1 19,311 110,618 N2,000 111,3// 114,4
103 1280 1?N 0:60 1116 111,213 012,!25 111,400 116,013 /11,:'
~1
EXHIBIT -C
RENTS WITH DOLA GRANT OF $500,000.00
5/31 /90
PROFESSIONAL DEVELOPMENT CORPORATON
6685 QUINCE ,SUITE 111 EXHIBIT - C~
MEMPHIS, TENNESSEE,38119
TEL 901-753-1100 FAX 901-753-1127
VAIL, COLORADO
PRO FORMA OPERATING STATEMENTS
REVENUE
RENTS
20 EFFICIENCY CHFA $323 77,520 0.71
20 1 BEDROOM CHFA $347 83,280 0.60
21 2 BEDROOM CHFA $416 104,832 0.55
80 EFFICIENCY $565 542,425 1.24
80 1 BEDROOM $720 691,115 1.24
83 2 BED ROOM $942 937,942 1.24
304 GROSS INCOME 2,437,115
VACANCY ALLOWANCE 5% ($121,856)
NET OPERATING INCOME 2,315,259
EXPENSES
OPERATING EXPENSES 486,400
AMOUNT AVAILABLE FOR DEBT SERVICE 1,828,859
DEBT. SERVICE RATIO 1.25 f
VAILC300.XLS 1
i
C
DOLA and CHFA are willing to match the local private sector
contribution dollar for dollar up to approximately $3,000,000. DOLA will
provide up to $500,000 in State funds to help pay for infrastructure
and/or site development. CHFA will allocate up to $500,000 in 1990
Federal Low Income Housing Tax Credits. The LIHTC provides a toll for
raising cash equity for the housing project. The developer can sell the
tax credits to investors who will receive a ten year stream of credits
against Federal Income Taxes. In return, they become limited partners in
the housing development, paying in a discounted value of roughly fifty
cents on the tax credit dollar to the project. ($500,000 in tax credits
times 10 years times $.50 equals $2,500,000.)
Protect Selection Criteria
SELECTION WILL BE BASED ON THE XE TENT TO WHICH THE FOLLOWING CRITERIA
ARE ADDRESSED:
1) FINANCIAL COMMITMENT FROM THE LOCAL INDUSTRY. The minimum is one
dollar for each dollar requested from DOLA and CHFA. Zt is critical to
the positive evaluation of the project that the local business interests
demonstrate a,significant financial contribution.
In order for a project to work and for the proposal to meet this first
criterion, commitments from the private sector may be included that have
real economic value but are difficult to quantify with an exact dollar
figure. An example may be a commitment to cover some portion of a
development's operating losses during rent-up or slow periods, to share in
a loan guarantee, or to invest in tax credits. With that in mind, DOLA
and CHFA are open to reviewing proposals with creative or unique financial
commitments.
2) FINANCIAL COMMITMENT FROM THE LOCAL GOVERNMENT(S). This is a
competitive process and the commitment should be appropriate to the scale
of the project. For example, local governments could provide cash, donate
' land, provide services, or waive fees. Proposals will only be considered
that have the full support of the local governments.
' 3 ) A COMMITMENT TO SERVE THE LOWEST INCOME PERSONS FOR THE LONGEST
TERM. For example, with all other things being the same, a project that
includes 150 low income units is better that one with 100 units.
Likewise, a project that commits to reserving the units for low income
t persons for 20 years is better than one that includes a 15 years
commitment. The LIHTC allocation plan provides specific criteria for
evaluation of this criteria.
' 4) SITE CONTROL. This means ownership of the site or an option to buy
the site. This criterion will be evaluated based on the degree of
certainty that the site is available for development within the
constraints of the proposed schedule.
RENTALS - ~e 11-07
INCOM
OF M E 0 B
EI ENT T AILE fD8 SO1 AMI 601
IAM IMCI NE t1 YBYSEN8l1 I IfE
Isle of NW ~rielouls 12-18 •
' IaltaICNFARgortt 01-90 N8 1'1 L8N-tM CONf
AREA lIN1
1 PERS011 Ti 1101
2 PERSON /F NE
3 PER58M IIANI
1 PERSON MAf
1 A8R11 INUN
I IOAN RENiS
2 ADRM 3
NRN IN COME LIMI TS
-~_
"__. 1 PERSON 2 PERSON 3 PEASDII / PERSON S PERSI
' Crorle~
111,950
I17,IN
ON,2N
121,350
SO1 -
1231 --------
1250 ------------
13N ------
1317 ----------
N,3/1 ---------
110,601 ---------
112,000 ---------
(13,341 ------
111,1
601 1211 1310 1360 N16 111,213 112,125 111,100 116,013 117,2'
Cutler 111,951 111,IN fN,2N 121,3S1 S1I 1231 1251 f3N 1317 14,311 /10,6N Il2,ON 113,311 111,1
' 601 i2N i3N f364 N16 111,113 111,825 111,/N (16,013 117,2'
Della f11,1S0 117,IN 114,2N 121,351 SO1 1231 1251 13N 1317 N,3N 110,681 112,000 11I,3N 111,1.
601 1281 13N 1361 N16 111,213 (12,825 fl/,/N 116,013 117,2'
' Oelcres 111,930 II7,IN (19,201 f21,3S1 SOl 1231 12`JO 1301 (341 19,3// 110,688 112,001 (13,311 (11,1.
601 (281 f3N 1360 N16 111,213 112,125 111,100 (16,013 117,2'
Ea11e f20,7N 123,IN 126,651 129,600 SI1 1323 IS/7 1116 1481 112,138 114,113 (16,656 118,501 114,91
611 1381 NIL 1511 15)7 115,525 117,I7S 119,981 122,201 123,9;
El1er1 117,151 119,951 122,IS1 121,951 301 1273 1292 1351 ~ 1106 (11,906 112,4N 111,031 fIS,591 116,ar
6K 1317 /3S1 1121 NN II3,OM 111,4N 116,131 118,713 120,2;
'
Freeoe/ 111,931 i17,1N 114,IN 121,351 511 0231 1251 1301 134) 19,3N 111,6N 112,ON fI3,3N 111,11
60t 1211 1311 13N N16 111,213 112,125 i1/,100 116,013 111,27
' iar(iel! (18,101 121,050 123,631 126,301 SO1 1281 1301 1370 N27 il1,SN 113,156 f1/,781 116,138 fi7,7.
611 1315 1371 N/3 IS13 113,100 fIS,7N 117,738 111,725 121,31
iil~ie 111,150 119,111 f22,IS1 121,501 511 1261 1287 1315 1398 110,719 (12,250 113,181 (13,313 116,5?
t 601 1322 1343 N13 NTt 112,863 /II,1N (16,538 {18,173 111,81
kael 018,4N (21,051 123,631 126,3N SII (281 13N 1310 N21 111,501 113,136 111,781 116,131 {11,1'
• 101 ISIS "1311 N13 IS13 113,800 115,718 117,738 119,725 121,31
' 6unnisce 117,700 120,250 122,750 123,3N SOI 1271 1296 1355 /Ill 111,063 112,656 011,219 115,813 117,07
601 1332 1356 N27 N43 113,2)<r /15,188 (17,063 118,975 120,45
NilsAale (1/,954 (17,100 119,2N 121,350 501 1231 1230 f3U0 1317 19,3// (10,688 f12,000 113,314 fl/, 41
' 601 1280 1300 ~ 1361 (116 (11,213 112,825 114,100 111,013 117,29
Nuer(aeo 111,950 (17,100 119,2N 121,350 501 123/ f25i- 1300 1347 19,311 110,688 (12,000 /13,3// 111,11
601 1280 1300 1360 1116 111,213 112,125 111,100 116,013 117,29
'
Jacksoe fIS,850 IlB,IN f20,4N (22,630 SO1 1218 1265 1;19 1368 19,906 111,313 (12,750 /11,156 IIS,28
601 1297 1311 1383 N12 {11,888 113,STS 115,300 116,988 118,3/
Kiora /1/,950 {17,100 f14,2N 121,350 SOI 12;1 1254 1;00 (347 19,311 (10,688 112,000 (11,141 f1/,11
', 601 1280 1'00 f •b0 1116 ft1,213 112,825 111,100 (16,013 111,29
EXHIBIT - D
RENTS WITH DOLA GRANT OF 500,000.00
LAND AT NO COST TO PROJECT.
5/31 /90
PROFESSIONAL DEVELOPMENT CORPORATON
6685 QUINCE ,SUITE 111 EXHIBIT - D
MEMPHIS, TENNESSEE,38119
TEL 901-753-1100 FAX 901-753-1127
VAIL, COLORADO
PRO FORMA OPERATING STATEMENTS
REVENUE
RENTS
20 EFFICIENCY CHFA $323 77,520 0.71
20 1 BEDROOM CHFA $347 83,280 0.60
21 2 BEDROOM CHFA $416 104,832 0.55
80 EFFICIENCY $461 442,931 1.01
80 1 BEDROOM $588 564,349 1.01
83 2 BED ROOM $769 765,902 1.01
304 GROSS INCOME 2,038,815
VACANCY ALLOWANCE 5% (;101,941)
NET OPERATING INCOME 1,936,874
EXPENSES
OPERATING EXPENSES 486,400
AMOUNT AVAILABLE FOR DEBT SERVICE 1,450,474
DEBT. SERVICE RATIO 1.25
VAILD300.XLS 1
1
AEMiKS - H 11-07
INLINE 0 RENT TAIIE f11 501 AMI E03
' 1F M EIIAN IMCI IE 1/ MIYSEMIl1 I ItE
/ale oI 1111 ~ri~lnlr ~i •
Iitoo113lfANgarl: 01-N MY I'i l0N-IM CINE
'
AREA llNl
1 PERS011 it 1101
2 ~AiN IF NE
3 PENSd IIAN-
4 PERSON MAI INNN LENTS IM CINE IINI TS
Y
_»A 0 11111 t IIAII 2 IOAIt 3 IIRII t PERSON 2 PERSON 3 PERSON 1 PERSON S PERS
GarleT 11/,151 117xIN 111x2M 021,350 SOI; 0231 1250 0300 1317 N,311 IIO,LN 112.000 013,341 111,1
~Ol 1211 1310 03L0 N1E 111,213 112,125 111xIN 11/,013 017,2
Crsler 111,151 OI1xIN 1Nx2N 121x350 511 0231 1250 03N 0347 11,341 IIO,E/1 012xON 013x3N 114,1
E11 0211 1301 13E9 NIL 011,213 112,123 011,4N OIL,013 117,2
'
ieli• 111,150 117xIM 111x2N 021,351 511; 0231 1250 03N 1317 N,3N IIO,E01 012,000 111x314 111,1
MII 12N '0300 03N N1L 011,213 112,125 114,/N itL,013 117,2
' Ielorp 011,131 111,IN 111x2N 021,350 SIl 0231 02`.A 0100 0311 Nx34/ IIO,L/I 112,ON 013,311 111,1
Mt 0211 1301 •f3E1 NIL 011,213 /12.125 111,100 IIL,Ol3 117,2
Emile {20x711 113x7N 12Exti51 121xL10 501 0323 1341 NlE 0411 012,1]1 111,113 IlExL51 011,501 0H,9
' L01 13M NIL OSN 1577 115x521 011,775 011,111 122,2N 023,1
ElNrl 117x151 011,150 022,110 121,150 i1t 02T3 0212 O3S1 NOS 110,10E 112xN/ 011,131 OISxSM OILxO
111 1327 0351 0121 NR7 013x111 111x1N OIEx131 111x713 020,2
Frawrl ~ 011,151 117xIN 1H,2N 121x110 i1i 0231 1250 0300 0317 Nx3N f11,LM 012,000 013,3N 111,4
00Z 1201 pM 13N NIL 111x213 012,023 I1/x/01 11L,013 017,2
W1iou OIIxIN 121x151 123xL30 t2Ex3N 501 1201 13N 0371 N27 011,501 111,15E IU,flI 11L,/3/ 1A,1'
' 111 0313 13» N13 1313 113x100 113x111 IU,7A 111x725 121x1
iillio /17x150 111x611 122,051 02/x110 501 12Y 1211 0313 13M 010x711 112,251 013,701 115,113 11Lx5;
A0I 1322 1315 N13 N7R i12,K3 111x1N 11L,531 011,315 011x1
'
~~ 011,100 021,151 023xGS1 12L,3N S0I 0211 1318 0370 N21 011,501 113,15E 014.711 O1L,131 011,7;
A03 1315 0370 N13 0513 i13,N4 115,111 017x731 011,725 021,31
' tiwcisa 111x7N 020,250 022,111 125x110 501 0271 021E 0355 N11 011,063 012,LS6 014,219 115,113 017,0;
N1 1332 0JS1 N27 N43 013,:15 115,111 011x013 111,115 020,1'
Nips/ale 111x154 117,IN 011,2N 121x350 511 0234 0250 0340 0317 N,3/1 110,E11 112,000 113,314 111,1:
101 0210 0300 03N NIE 111,213 112,/25 111,100 IIL,0l3 111,2'
Nuerl~o 011,150 017,IN Ot1x2N 021,350 511 f231 125u 1300 /311 09x]41 111,LN 112,000 /13,311 011,11
EOi 1210 1300 0360 NIL 111x213 012x125 111,100 01L,013 017,2!
' ~utsa 015,150 111,104 120xIN 122x/50 SO1 02/1 1265 0;19 1368 19x101 011,313 112,750 011,156 115,2E
103 1291 /311 1313 NI2 011x111 013,575 N5,300 116,101 111, 3i
' Kior~ 011,950 /11,100 1 Hx2N 021,350 SOI 02;1 1'SO 1100 0;41 N,341 010,618 112,000 111,7/4 011,11
601 1:14 1;00 0;b0 1116 111,213 /12,125 111,100 116,013 111,2'
' EXHIBIT E
UNDERWRITER'S RESUME
Morgan Keegan & Company, Inc. ("Morgan Keegan") is a full service investment banking firm
based in Memphis, Tennessee, serving clients nationally and internationally. The firm has twenty
offices in ten states and employs over 850 people. Morgan Keegan is a member of the New
' York Stock Exchange and its parent, Morgan Keegan, Inc., is publicly traded with its stock listed
on the New York Stock Exchange. The firm's sales department has over 400 registered
representatives including over 100 institutional salespersons. Morgan Keegan is the nation's
' largest underwriter of taxable municipal bonds; the only firm based outside of New York in the
list of top ten underwriters of municipal housing bonds; and the 52nd largest underwriter of long
term municipal bonds.
' The Public Finance Division is responsible for structuring and managing municipal bond
underwritings and placements. The Public Finance Division is part of the firm's Investment
Banking Division which maintains offices in Memphis, Little Rock, and New Orleans. A lisitng of
' Morgan Keegan's senior management transactions is available upon request, along with
references.
James M. Fowler. Jr., First Vice President, works out of Morgan Keegan's T. J Raney & Sons
Division in Little Rock, Arkansas. Mr. Fowler is a graduate of Hendrix College where he earned a
B. A. degree, the University of Arkansas at Fayetteville School of Law where he earned a J. D.
degree, Southern Methodist University where he earned a Master of Law degree and the Goethe
tnstitute in Staufen-im-Breisgau, West Germany. Prior to joining T. J. Raney & Sons in 1983, Mr.
Fowler was a member of the Rose Law Firm, a professional association, where he practiced in
the municipal and corporate securities law area. Mr. Fowler has specialized in multi-family
housing revenue bonds.
1
`ice'
Gor~ticoNS
A ~E `ir r A
A
rb µou:
~~
~,
..~-~
1~'I~~
Z
.~
-+° I m l X 1 2
~O 104 ' 304 unrrTS
~~~ DAY CARE ~ 'r
pa,cY YnR.n
• h-rc~~.T
u
I O MM G O
P P-O P g S E D ~ A` SITE °- -
N
57R~ET -
A TYPICAL 10 Ac. SITE - 96 UNITS
2 BEDROOM 760 S. F (64 S.F. I/2 STAIR )
(8) 2 BEDROOM
r
1
1
1
L'
I BEDROOM 606 S.F. (34 S.F. I/2 STAIR)
(8) I BEDROOM
~ ~.
ki \
0
O BEDROOM 481 S.F (34 S.F I/2 STAIR)
' (81 O BED R OONiS ~
1
1
1
1
1
1
I(
1
1
1
1
v
' -i
\~
;`.
.~
`.' ~ ~ .t
:,-
,,;
.,
.. ..
G
1
1
1
1
1
1
1
('
2 BEDROOM 760 S.F
:~
4 BEDROOM 150 S. F• CONVERSION
(4) BATH (LIVING,DINING,DEN)
29 - 9
29~-9~~ ~, 18-10~~ ~ 10-5~~
_'
N
~,
BEDROOM (BATH
;BEDROOM
KIT.
DINING
M ~
B~ _ LIVING
2 BEDROOM 760 S.F.
29 -9~~
3 BEDROOM 1366 S. F. CONVERSION
2!~ BATH (LIVING, DINING, DEN)
~-
~,
~-
29~- 9~~
2 BEDROOM 760 S. F
-10~~
_~
i
,~
N
ti
1
If)
N
3 BEDROOM 1241 S.F. CONVERSION
(LIVING.KITCHEIV,DINING. 21~ BATHS
10 -II~~
1
1
1
1
1
1
1
1
1
0 BEDROOM 48l S.F.
i
i
_I
iI
N
_~
M
_~
_~
N
2 BEDROOM b87~ S.F. CONVERSION
(LARGE MASTER BEDROOM, BREAKFAST)