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2011-12-20 Agenda and Support Documentation Town Council Evening Session
VAIL TOWN COUNCIL EVENING SESSION AGENDA TOM OF V i L I VAIL TOWN COUNCIL CHAMBERS 75 S. Frontage Road W. Vail, CO 81657 6:00 P.M., DECEMBER 20, 2011 NOTE: Times of items are approximate, subject to change, and cannot be relied upon to determine at what time Council will consider an item. 1. ITEM /TOPIC: Citizen Participation (15 min.) PRESENTER(S): Public 2. ITEM /TOPIC: Town Manager Report: Station Style Award - Fire Station West Vail (15 min.) PRESENTER(S): Various 3. ITEM /TOPIC: CSE /VLMDAC Vacancy Appointments (10 min. ) PRESENTER(S): Kelli MCDonald & Pam Brandmeyer ACTION REQUESTED OF COUNCIL: Appoint four members to the VLMDAC and four members to the CSE. 4. ITEM /TOPIC: Red Sandstone Elementary School Update (15 min.) PRESENTER(S): Brian Nolan, RE50J Eagle County School District Board ACTION REQUESTED OF COUNCIL: None 5. ITEM /TOPIC: Update on Timber Ridge Redevelopment (15 minutes) PRESENTER(S): Stan Zemler BACKGROUND: In December 2008, the town issued a request for proposals (RFP) for the redevelopment of the eastern half of Timber Ridge with the objective of paying off half the debt on the property and providing a minimum of 600 deed restricted rental beds. Vail Timber Ridge, LLC, (VTR) submitted the successful proposal. On November 11, 2011, the pre - development agreement between the town and VTR expired of its own terms and Council directed staff to continue discussion with the developer for up to 90 days. The Town Manager will report on the results of these discussion. 6. ITEM /TOPIC: An update to the Vail Town Council on the Municipal Site Redevelopment project. The municipal site project is a partnership between 12/20/2011 the Town of Vail, the Vail Valley Medical Center, the Steadman Clinic and the Steadman - Philippon Research Institute to redevelop the Town office site with a new municipal building and a new medical office building. The presentation will include a summary of the proposed project, an update on the due diligence work currently underway, a preview of the schematic design and architecture, an overview of the financing options the Town Council may consider for the project, and a schedule of next steps to be taken. (60 Minutes) PRESENTER(S): George Ruther, Town of Vail Steve Virostek, Triumph Development, LLC Jonathan Heroux, Piper Jaffray ACTION REQUESTED OF COUNCIL: No formal action is being requested of the Vail Town Council at this time. BACKGROUND: On both May 17 and October 18, 2011, the Vail Town Council approved resolutions authorizing the Town Manager to enter into contractual agreements with Triumph Development, LLC for predevelopment services to study the feasibility of the constructing a new municipal office building and new medical office building.To date, feasibility studies and due diligence work have addressed site access, site design, soils investigation, on site parking, utility verification, title work, helipad relocation, site surveying, civil engineering, etc. STAFF RECOMMENDATION: Based upon our review of the work completed to date, Town staff recommends the Vail Town Council instructs staff and Triumph Development, LLC to proceed forward with the completion of the Phase 2 scope of services and return to the Town Council on January 3, 2012 with recommendations on project financing and a draft memorandum of understanding on the development of the project. 7. ITEM /TOPIC: Second reading of Ordinance No. 26, Series 2011, an ordinance making adjustments to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Heavy Equipment Fund, Health Insurance Fund and Conference Center Fund. (5 min.) PRESENTER(S): Kathleen Halloran ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 26, Series 2011 BACKGROUND: Provided in attached memo STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 26, Series 2011 8. ITEM /TOPIC: First reading of Ordinance No. 27, Series of 2011, an ordinance repealing and re- establishing Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12- 13-5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code, and setting forth details in regard thereto. (PEC110058) (30 minutes) 12/20/2011 PRESENTER(S): Bill Gibson, Community Development Department ACTION REQUESTED OF COUNCIL: The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 27, Series of 2011, on first reading. BACKGROUND: On December 12, 2011, the Planning and Environmental Commission forwarded the Vail Town Council a recommendation of approval, with the modifications outlined in Section II of the Staff memorandum to the Commission dated December 12, 2011, for amendments to the employee housing requirements of Special Development District No. 22, Grand Traverse. The purpose of this ordinance is to amend the provisions of the special development district to: allow the employee housing requirements of the special development district to be met within the district, off -site, or a combination thereof; allow employee housing units to be exchanged in accordance with the procedures of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; and to "clean -up" the unclear, outdated, and inconsistent provisions of the district. STAFF RECOMMENDATION: The Planning and Environmental Commission recommends approval of Ordinance No. 27, Series of 2011, on first reading. 9. ITEM /TOPIC: Second reading of Ordinance No. 25, Series of 2011, an ordinance amending Chapter 12 -15, Gross Residential Floor Area, Vail Town Code, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, related to the calculation of gross residential floor area (GRFA) when the basement level of a structure includes a garage or employee housing unit (EHU) in the Hillside Residential, Single - Family Residential, Two - Family Residential, Two - Family Primary/Secondary Residential, Residential Cluster, Low Density Multiple - Family, Medium Density Multiple - Family, High Density Multiple - Family, and Housing Districts, and setting forth details in regard thereto. (PEC110043) (10 minutes) PRESENTER(S): Bill Gibson, Community Development Department ACTION REQUESTED OF COUNCIL: The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 25, Series of 2011, on second reading. BACKGROUND: On October 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval to the Vail Town Council for amendments to the Vail Town Code to allow the basement, garage, and employee housing unit (EHU) deductions from the gross residential floor area (GRFA) calculations to be applied to the entirety of the lowest level of a residential structure. Currently, the GRFA basement deduction is only applied to those portions of the lowest level not otherwise deducted as a garage or EHU. The purpose of the proposed ordinance is to create consistency and equity in the calculation of GRFA. Without amendment, houses with garages or EHU located on the basement level will continue to be allowed less floor area than houses with the same garage or EHU 12/20/2011 located on an upper level. On December 6, 2011, the Vail Town Council approved the first reading of Ordinance No. 25, Series of 2011, by a vote of 6 -0 -1 (Donovan opposed). STAFF RECOMMENDATION: The Planning and Environmental Commission recommends approval of Ordinance No. 25, Series of 2011, on second reading. 10. ITEM /TOPIC: The Community Development Department requests that the folowwing Ever Vail applications be tabled to January 17, 2012. Major Subdivision: A request for a review of a preliminary plan for a major subdivision, pursuant to Chapter 13 -3, Major Subdivision, Vail Town Code, to allow for the creation of two lots for the redevelopment of the properties known as Ever Vail (West Lionshead), located at 862, 923, 934, 953, 1000 and 1031 South Frontage Road West, and the South Frontage Road West right -of- way /unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080062) Rezoning (Ordinance No. 7, Series of 2011): A request for a recommendation to the Vail Town Council for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to allow for a establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision located generally at 862, 923, 934, 953, 1000, and 1031 South Frontage Road, and the South Frontage Road right -of- way /unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080061) Special Development District Amendment (Ordinance No. 8, Series of 2011): A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4, Cascade Village, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the removal of Development Area D (Glen Lyon Office Building) from Special Development District No. 4, Cascade Village, and for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to include the subject property in the Lionshead Mixed Use 2 District, located at 1000 South Frontage Road West /Lot 54, Glen Lyon Subdivison, and setting forth details in regard thereto. (PEC090036) Title 12, Zoning Regulations, Vail Town Code, Amendment ( Ordinance No. 9, Series of 2011): A request for a final recommendation to the Vail Town Council for prescribed regulation amendments, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to amend Section 12- 10 -19, Core Areas Identified, Vail Town Code, to amend the core area parking maps to include "Ever Vail" (West Lionshead) within the "Commercial Core" designation, and setting forth details in regard thereto. (PEC080065) (5 min.) PRESENTER(S): George Ruther 12/20/2011 ACTION REQUESTED OF COUNCIL: The Community Development Department requests that the major subdivision and Ordinance Nos. 7, 8, and 9, Series of 2011 be continued to the January 17, 2012 public hearing. BACKGROUND: Major Subdivision: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, on the preliminary plan for the major subdivision to establish Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 (Viele and Cartin recused). Rezoning: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a zone district boundary amendment to establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 (Viele and Cartin recused). Special Development District Amendment: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a major amendment to Special Development District (SDD) No. 4, Cascade Village, to remove the Glen Lyon Office Building from the SDD in order for it to be incorporated into the Ever Vail Subdivision, by a vote of 4 -0 -2 (Viele and Cartin recused). Title 12, Zoning Regulations, Vail Town Code, Amendment: On January 11, 2010, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a prescribed regulations amendment to Section 12- 10 -19, Core Areas Identified, Vail Town Code, by a vote of 4 -0 -2 (Viele and Cartin recused). STAFF RECOMMENDATION: The Community Development Department requests that the major subdivision and Ordinance Nos. 7, 8, and 9, Series of 2011 be continued to the January 17, 2012 public hearing. 11. ITEM /TOPIC: Adjournment (8:40 p.m.) 12/20/2011 TOW& OF I � VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: Town Manager Report: Station Style Award - Fire Station West Vail PRESENTER(S): Various 12/20/2011 TOW& OF I � VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: CSE /VLMDAC Vacancy Appointments PRESENTER(S): Kelli MCDonald & Pam Brandmeyer ACTION REQUESTED OF COUNCIL: Appoint four members to the VLMDAC and four members to the CSE. 12/20/2011 TOW& OF I � VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: Red Sandstone Elementary School Update PRESENTER(S): Brian Nolan, RE50J Eagle County School District Board ACTION REQUESTED OF COUNCIL: None 12/20/2011 (0. TOM OF VAIL' VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: Update on Timber Ridge Redevelopment PRESENTER(S): Stan Zemler BACKGROUND: In December 2008, the town issued a request for proposals (RFP) for the redevelopment of the eastern half of Timber Ridge with the objective of paying off half the debt on the property and providing a minimum of 600 deed restricted rental beds. Vail Timber Ridge, LLC, (VTR) submitted the successful proposal. On November 11, 2011, the pre - development agreement between the town and VTR expired of its own terms and Council directed staff to continue discussion with the developer for up to 90 days. The Town Manager will report on the results of these discussion. 12/20/2011 TEM OF I �. VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: An update to the Vail Town Council on the Municipal Site Redevelopment project. The municipal site project is a partnership between the Town of Vail, the Vail Valley Medical Center, the Steadman Clinic and the Steadman - Philippon Research Institute to redevelop the Town office site with a new municipal building and a new medical office building. The presentation will include a summary of the proposed project, an update on the due diligence work currently underway, a preview of the schematic design and architecture, an overview of the financing options the Town Council may consider for the project, and a schedule of next steps to be taken. PRESENTER(S): George Ruther, Town of Vail Steve Virostek, Triumph Development, LLC Jonathan Heroux, Piper Jaffray ACTION REQUESTED OF COUNCIL: No formal action is being requested of the Vail Town Council at this time. BACKGROUND: On both May 17 and October 18, 2011, the Vail Town Council approved resolutions authorizing the Town Manager to enter into contractual agreements with Triumph Development, LLC for predevelopment services to study the feasibility of the constructing a new municipal office building and new medical office building.To date, feasibility studies and due diligence work have addressed site access, site design, soils investigation, on site parking, utility verification, title work, helipad relocation, site surveying, civil engineering, etc. STAFF RECOMMENDATION: Based upon our review of the work completed to date, Town staff recommends the Vail Town Council instructs staff and Triumph Development, LLC to proceed forward with the completion of the Phase 2 scope of services and return to the Town Council on January 3, 2012 with recommendations on project financing and a draft memorandum of understanding on the development of the project. ATTACHMENTS: Memorandum Power Point Presentation Municipal Site Redevelopment Power Point Financing Options 12/20/2011 TRIUMPH TOWN OF VAIL To: Vail Town Council From: Office of the Town Manager Triumph Development, LLC Date: December 20, 2011 Re: Vail Municipal & Medical Office Redevelopment — Predevelopment Consulting Phase 2 This memo provides an update on the progress of the above referenced consulting effort outlined in our October 18, 2011 Proposal. Geotechnical Study: • HP Geotech engaged to perform geotechnical studies. 6 borings drilled on 11/18/11. • 4 borings drilled to depths of 26 to 31 feet. 2 borings refused at 7 and 11 feet. • Groundwater found on the western 1/3 of the site. Will continue to monitor quantity of water over the course of the next year. • Soil characteristics in -line with expectations. • Quantity and location of rock should be further examined in later phases. Utility Survey: • Eagle Valley Survey performed survey and utility locates of Town municipal site, S. Frontage Road, and U.S. Bank Building • Town municipal site is bisected by electrical service. Construction plan and budget assumes relocating this service to a new transformer before construction begins. • Several utilities converge on the south side of the S. Frontage Road at the entrance to the VVMC parking structure. P. 301.657.1112 P.O. Box 1250, Vail, CO 81658 -1250 www.triumphdev.com F. 301.657.5948 8120 Woodmpf ie. 800, Bethesda, MD 20814 6 -1 -1 TRIUMPH TOWN OF VAIL Parking Study: • Carl Walker (CW) parking consultants have completed a preliminary parking study. • The purpose of the study, in part, was to determine the projected peak vehicle trips to the site. • CW is recommending peak parking demand for this mixed -use facility of 194 parking spaces. Town code for all individual uses recommends 245 spaces. • A 21.8% reduction in the parking requirement should be considered pursuant to section 12- 10 -20. CDOT: • Kickoff meeting was held on 12/14. Verbal update to be included in 12/20 presentation. • Preliminary review by Turnkey Consulting indicates constructability issues that impact the right -of -way can be resolved to CDOT's satisfaction. • Primary safety issues such as crane - swings over 1 -70 will be their biggest concerns. Design Update: Design Program Verification: • Steadman Clinic: 12 doctors and 23,405 net usable square feet, plus 3,250sf imaging lab for two MRIs • SPRI: 13,000 net usable square feet including 8,000sf bio- motion & surgical skills lab • Howard Head: 9,000 net usable square feet • Town of Vail: 18,000 net usable square feet • Sky- Bridge: Sky- bridge from MOB to VVMC to cross at US Bank property • Garage & Surface Parking: 200 + /- parking spaces. Final amount TBD. Page 2 of 5 www.triumphdev.com 12/20/2011 6 -1 -2 TRIUMPH TOWN OF VAIL Temporary Helipad Relocation Site: • Conducted inventory and tour of five potential relocation sites with VVMC, Eagle County Ambulance District, TOV Community Development, and Tristate Careflight executive and pilot. • Identified two feasible options: (1) east end of Ford Park parking lot, and (2) West end of Public Works snow dump. • Ford Park parking lot is the preferred option and may displace up to two or three parking spaces. Site Plan, Massing Plan and Sample Architecture (see attached OZ design package) Town of Vail Space Program Alternatives (see Pierce Architects design package) Temporary Town of Vail Office Relocation: • Potential temporary Town Council Chambers at Donovan Pavilion. • Potential temporary offices available for rent have been investigated and landlord's interest has been solicited. • Town of Vail is conducting an inventory of Town -owned space that could house various departments. • Current plan and budget includes lease negotiations in C14 -2012 for a Mar -2013 move. Also includes two "white glove" weekend moves for TOV staff. Redevelopment Schedule & Critical Path: • Consulting task to be completed over the next 45 days: o Complete schematic design o Complete preliminary entitlement due diligence (e.g. fire marshal, CDOT, parking) o Refine development /construction cost model o Present and refine proposed deal structure o Facilitate negotiation among group Page 3 of 5 www.triumphdev.com 12/20/2011 6 -1 -3 TOWN OF VAIL • Goal at the end of the Phase 2 consulting is a signed MOU that allows design to continue in earnest on 2/1/12. • Development schedule milestones and durations are outlined below. Critical path of project runs through design /entitlement. o Deal MOU Negotiation Dec -2011 to Jan -2012 (2 months) o Design Development Feb -2012 to Mar -2012 (2 months) o Final Legal Document Prep Feb -2012 to Mar -2012 (2 months) o Town of Vail Entitlement Apr -2012 to July -2012 (4 months) o Construction Documents Aug -2012 to Dec -2012 (5 months) o Formal CDOT Approval Sept -2012 to Apr -2013 (8 months) o Construction Start May -2013 to Jan -2015 (21 months) • Given the importance of this schedule, we've asked all groups to confirm that elements of this strategy are achievable. Legal: • Title work for TOV property clean. • VVMC easements dictate sky- bridge connects over to the US Bank building property. • Draft MOU has been distributed to the partners for initial review TOV Office Building Budget: Land Credit $ x,xxx,xxx Hardcost — Garage Parking & Site $ 3,500,000 Hardcost — Core, Shell, & TI $ 5,700,000 Softcost $ 2,750,000 Financing $ - Total $11,950,000 TOV Deal Elements & Negotiating Points: • Form of land contract — purchase or ground lease? • Cost of land contract — Range: $2.5M to $7M • Affordable housing cost — fee in lieu amount? Page 4 of 5 www.triumphdev.com 12/20/2011 6 -1 -4 v f TOWN OF VAIL • Parking Requirements — shared parking based on Carl Walker recommendations. • Temporary TOV office space and relocation costs • TOV capital plans include improvements for Frontage Road. Available for this project? • MOB agrees to pay fees & construction use tax. • Municipal financing alternatives — is this an option for the project as a whole? • Entitlement Schedule — Needs to be 4 months max. • Temporary Helipad relocation on TOV land paid for by VVMC Staff Recommendation for the Next 45 Days Time is of the essence. Based upon the proposed project schedule and the due diligence work completed to date, town staff recommends the following next steps over the next 45 days: • Continue to advance the current site plan. • Continue to advance the design and architecture presuming a three -level TOV office building atop a one level parking podium. • Begin preparing an RFP for design and architectural services after February 1, 2012. • Return to the Town Council on 1/3/12 with a staff recommendation for project financing along with a draft MOU. • Execute an MOU by no later than 1/17/12. • Continue forward based upon the schedule with a project completion date of 1/2015. • Begin preparing an RFP for developer services in cooperation with VVMC and SC. Page 5 of 5 www.triumphdev.com 12/20/2011 6 -1 -5 Vail Medical &t Municipal Office Development TRIUMPH Site Study &t Design Constraints • Geotech: Small amount of water and limited rock. • Utilities: Electric through site to be relocated. • CDOT Right -of -Way: No unworkable conditions. Much coordination required. • Parking Demand: Mixed -use facility parking demand of 194 spaces (21.8% credit to zoning) • Helipad Relocation: Temporary facility at east end of Ford Park parking lot. • Title: VVMC lot contains significant development easements. 12/20/2011 6 -2 -2 Assumptions Confirmed TRIUMPH Redevelopment Design Program Medical Office Building: Steadman Clinic Clinic Imaging Lab SPRI Biomechanics Howard Head Total MOB Town of Vail Building: Council Chambers Community Space Office Total TOV Parking: 12/20/2011 6 -2 -3 Surgical Skills Office Therapy Center 24,305 sf 3,250 sf 4,000 sf 4,000 sf 5,000 sf 9,000 sf 49,555 usable sf xx,xxx sf xx,xxx sf xx, xxx sf 18,000 usable sf 200+- spaces TRIUMPH Site Plan EXISTING VVMC / US BANK GARAGE 12/2U/2U1 1 6 -2 -4 MAIN ENTRANCE FRONTA ROAD WEST BOUND EXISTING POLICE BUILDING - -- T BOUND FRONTAGE. ROAD E ao TRIUMPH MOB Et TOV Level 1 12/20/2011 6 .2.5 TRIUMPH OPEN TO SERV CE / LOADING BELOW MOB Et TOV Level 2 SPRI SKILLS LAB SPRI BIOMECHANICS TSC AMAIN 12/20/2011 6 -2 -6 OPEN TO B LOW LORRISOR OF EXISTING POLICE SEPT BUILDING -TO BE VERIFIES 32' TRIUMPH STEADMAN CLINIC MOB Et TOV Level 3 RESTROOM 12/20/201 1 6 -2 -7 32' TRIUMPH STEADMAN CLINIC MOB Level 4 RESTROOM 12/20/2011 6 -2 -8 Garage Plan RAMP ON TO LEVEL P2 12/20/2011 6 -2 -9 93 SPACES AT LEVEL P1 PARKING RAMP UP TO LEVEL LINE OF NEW BUILDING ABOVE ■EXISTING BUILDING TO REMAIN 32' TRIUMPH STEADMAN CLINIC Building Sections COMMON HOWAROHEAO COMMON H n COMMON 12/20/2011 6 -2- 10 EVEL2 9,191'' -0 " - LOADIN II _ I _ COVERED II IIIIII UI IIIIII II IIIII I I III III I�I III1 1�1 111 111 11 I �IIIIU1 111 PARKING EVELI - -III -1 -11 IIIIII IIII Ell 8.L1]5 -0 - PARKING - EIII- III - III - III - III -III Ell-1 1 EllE1 1E1 I l I El4E111S1111E111 11II +III a HII- II1-1II III 411-1 n II I I - -III - - � - - III - - 11-111 II III III = III - III - 1 - II III - III - III -III- III - III - III - III - III -III- PARKING I I - _T 1-1I -I I - I -I I1-1 I I-I I1-1I I-1I1- L �y = y - y-J y - EVEL P2 I-_IIII 111 III I III I I-II-I I- -I -__ = -- i_ i- - - - - - - - - - - - - - - - - I - I - - = i_ i_ i_ II-I Iy III IIFIII-I I-III-J I I I-III-I I I- I III II1-I 8.133' -0� II- III III III m m m I I I III- -III- -III- -III- - III - III - III - III -III - - III - III - III - III -III - -III- -III- -III- -III- -III III 11 III 11 III I I I I I 11 -111- 11 (I III 111-1 111 -111 111 -111 111 I I I I I (I I I I (I I I I (I I I I I I (I III (I I I I 111 - 111 111 - 111 I I I I I III III 111 -111 111 -111 111 -111 I I I I I 111111 I I I I I 11 I II � � ��� �T -IIII- LEVEL P3 -1 -III -III 1 -1 I �II-M II-M -I II - -III III- L- III-�I II - III -JL -III JZ - M- III- IFIIIHM -III -I I- III -L -III I -III II -III -I -III L -11 11 -IIII r -III -� _ I -III 1- 11- III -1- III -JL -I 0.142 - off _ _- 111 - II111 111 -1111 111 -1111 111 -1111 11 - 11 - III -111 111 -1111 111 -1111 111 - 1111 1111 1111 1111( 1111 111 -1111 111 -1111 111 - 1111 1111( - 1111 1111( -1111 111 -1111 111 -1111 111 -1111 111 -1111111- 111 -1111 111 -1111 111 -111- 1 1 -111 I I I I LH I F IL 111 -1- 111-1 - 111-1 -111 -1 -111 -1 11-1 1 111 - 1 - 111 - 1 - 1 - 1111 - 111 - 1111 - 111 - 111 - 111 - 1 11-1 11 -1 11-1F1 1 1 1 1 -111 1 1 -111 1 1 1 1 1 1F1 I H 1 111 - 111 - 1 - 111 - 1 - 111 - 1 1- 111 -1 -1 1 -111-1 1- 111-111 -1 Section 1 O LOADING LEVEL COVERED PARKING EXISTING BUILDING 32' TRIUMPH Architectural Images OPEN VERSE 12/20/2011 6 -2- 11 TRIUMPH Town of Vail Space Program • Temporary Helipad — Conducted inventory and tour of 5 potential locations with VVMC, Eagle County Ambulance District, TOV Community Development, and Tristate Careflight executive and pilot. — Identified two options: (1) east end of Ford Park (prior location for World Championships events, and (2) West end of Public Works snow dump. — Ford Park parking lot was the clear choice and would displace 2 to 3 parking spaces. • Temporary Town of Vail Office Relocation - Options Include — Temporary Council Chambers at Donovan Pavilion — Inventory of temporary office Rental Options — TOV performing inventory of other TOV controlled locations. 12/20/2011 6 -2- 12 TRIUMPH Consulting &t Development Schedule • Predevelopment Consulting Wrap -Up — Complete Schematic Design Et Pre - Entitlement — Update Construction Cost Model — Propose Transaction Structure — Facilitate Negotiation - Groups Sign MOU on 2/1/11 • Development Schedule — Deal MOU Negotiation Dec -2011 to Jan -2012 (2 months) — Design Development Feb -2012 to Mar -2012 (2 months) — Final Legal Doc Prep Feb -2012 to Mar -2012 (2 months) — Town of Vail Entitlement Apr -2012 to July -2012 (4 months) — Construction Documents Aug -2012 to Dec -2012 (5 months) — Formal CDOT Approval Sept -2012 to Apr -2013 (8 months) — Construction Start May -2013 to Jan -2015 (21 months) 12/20/2011 6 -2- 13 TRIUMPH Development Budget &t Deal Points Town of Vail Budget: Land Credit Hardcost- Garage Hardcost- Office Softcost Financing Total 12/20/2011 6 -2- 14 $ ? ?? $ 3,500 K $ 5,700 K $ 2,750 K s - $11,950 K Points of Negotiation: • Purchase or ground lease • Cost of land contract • Affordable housing- How much fee in lieu? • Shared parking requirements • TOV temporary office space and relocation costs • Frontage Road capital plans? • Municipal financing available? • Entitlement schedule - 4 month • Temporary helipad location • Civic Use • Community's heritage • Customer focus • Accessible • Permanence /Strength • Transparent • Vail's Brand • Vail's Spirit • Inviting /Welcoming Town of Vail Municipal Offices Design Concepts • Flexible /Adaptable • Worldly /International • Sophisticated • Technologically advanced • Efficient /Productive • Sustainable • Active /Energetic • Excellence TOWN OF VAIL' AO AMPA mrsixemm Nur Ter GARAGE RAMP GRAND STAIR 350 5 F EH t5 129 SF PUBLIC 517 SF OP EkT.VABOVE 12/20/2011 6 -3 -2 RR RR 182 SF 182 SF CU STONER SERVICE 94 SF FIREPL4CE RECEPTION 593 SF OFFICES 4935 SF HAIJ 4 STAIR 95 SF CIRCULATION 1113 SF LE VALOR GROSS 8,177 FT LEVEL 1 VAIL MUNICIPAL BUILDING - OPTION 1 12 DEC 2011 OFFICES 2870: SF ROO BELOW OP ITiBE LOW 12/20/2011 6 -3 -3 RR RR 125 SF 125 SF RR RR 143 SF 143 SF RECEPTION 288 SF ROOF BELOW OFFICE 1552 SF STAI 145 SF CIRCULATION 135 SF :388 FS 1 LE404TOR EXIST. PATIO ACCESS EXISTING• Mi Orm EI1 E:I'81I84 MEN r ACCESS TO EXISTING POLICE D EPARTMENT GROSS 7,923 5Q FT LEVEL 2 VAIL MUNICIPAL BUILDING - OPTION 1 12 DEC 2011 GRARO STAIR 360 SF COO #al. CHANIIE RS ROOF BELOW OFFICES 530 SF 12/20/2011 6 -3 -4 PI 181 FC PUBIJC SF R11 101 SF OFFICES 11507 SF ROOF BELOW HALL 223 SF RR M SF STAIR 200 SF COUIICIL BREAK -OUT LEVATOR1 RE CEPTIOH 219 SF HALL 2O SF GROSS 9,177 SQ FT TOTAL BLDG 25,277 FT LEVEL 3 VAIL MUNICIPAL BUILDING - OPTION 1 12 DEC2011 AWE& Adak ri Ng" v va c GRAND STAIR GARAGE R31AP 380 SF ENTRY 100 SF 100 SF 0 PEL<BOVE PUBLIC 519 SF 12/20/2011 6 -3 -5 COUN CIL CHAIME RS 2029 SF PUBLIC FIREPLACE RECEPTION PUBLIC 001 SF 237 SF OFFICES 1030 SF CIRCULATION 208 SF COUNCIL BRE AR -OUT ]43 BF LE VALOR. STAIR 00 SF CIRCULATION 291 SF GROSS 9,020 SQ FT LEVEL 1 VAIL MUNICIPAL BUILDING - OPTION 2A 12 DEC 2011 GRAND STAIR 380 SF PUBLIC 548 SF ROO DELCIO CIRCULATION 1214 SF opEyTO TARN OPENTO PE. RECEPTION 539 SF LEVATO STAIR 200 SF OFFIi S 12/20/2011 6 -3 -6 EXISTING WOMEN VEST EXISTIN MEN R EC EPT. RECORDS GROSS 6,278 SO FT CLERK STAIR APCBG EXISTING POLICE DEPARTMENT T. SCRIBE VEST. LOST AND FOUND LEVEL 2 VAIL MUNICIPAL BUILDING - OPTION 2A 12 DEC 2011 GRAN!) STAIR 360 SF ROOF LEVEL 3 OFFICES 2143 SF OFFICES 795 SF BELOW RECEPTION 250 SF 12/20/2011 6 -3 -7 RR 120 SF RR 125 SF OFFICES 2704 SF ROOF BELOW CIRCULATION 10]1 SF LEVATO 200 S I ELE V. EQUIP. 44 SF GROSS 7,742 SQ FT TOTAL BLDG 23,040 SQ FT VAIL MUNICIPAL BUILDING - OPTION 2A 12 DEC2011 G2ANB STAI PRI! iiiii1 RAM P DOWN BE CHANICAL 267 SF E NTRY LOBBY 938 SF ELEVATORS 12/20/2011 6 -3 -8 GROSS 1,335 SQ FT LEVEL 1 VAIL MUNICIPAL BUILDING - OPTION 3 12 DEC 2011 liPt i84.111}(;111 1+61111 IC ELEVATORS RECEPLION 12/20/2011 6 -3 -9 COI111C5L CHAN%1i-P> 2785 SF PUIJIJC `"` F4 1245 SF OFFICES 154 SF ROOF BELOW aRa1LATIOH 377SF - - STAIN 05 NEN 124 SF WONEH 170 SF A EXIST UI OMEN EST EXIST MEN ELEO RECORDS GROSS 8,995 SQ FT CLERK POLICE RECEPTION STAIR EOM EOSTINO POLICE DEPARTMENT T. SCRIBE VEST. LOST AND FOUND COL RT CLERK JUDGE SF LEVEL 2 VAIL MUNICIPAL BUILDING - OPTION 3 12 DEC 2011 ROOF eEIA GRAM O STNR 381 SF CI RCULATION 30 SF RECEPTION 190 SF MEI ' 161 SF ELEVATORS CIRCULATION OSP SF OFFICES HOC E1.010 o o PE 6&tE10 OFFICES 1310 SF ST=IR GROSS 6,634 SO FT LEVEL 3 VAIL MUNICIPAL BUILDING - OPTION 3 12 DEC 2011 RECEPTION 572 SF OFFICES 3082 S, NEN WONEII 131 SF 10437 ELEVATORS CIRCULATION 72437 12/20/2011 6 -3 -11 ROOF HE LORI ROOF BELOW ROOF BELOW OP EN 701 EIAW STAIR 5 PUBLIC GROSS 5,464 SQ FT BUILDING GROSS 22,428 SQ FT LEVEL 4 VAIL MUNICIPAL BUILDING - OPTION 3 12 DEC 2011 Prepared by: P. Jonathan Heroux Managing Director Piper Jaffray & Co. Suite 1250 1200 17th Street Denver, CO 80202 p.j.heroux @pjc.com (303) 820 -5848 Financing Options December 20, 2011 GUIDES FOR THE JOURNEY' i ip erTaff�ay. TOWN OF VAIL GUIDES FOR THE JOURNEY" Pip erJaff ray. Piper Jaffray & Co. Sincc 1895. Mcmbcr SIPC and FINRA. Issue Type Comparison 2 Piperfaffray. Credit Quality Security Market Considerations Voter Approval Required General Obligation Bonds Highest Full faith and credit of issuer with a pledge of either unlimited or limited property tax revenues Widest market acceptance Requires vote Sales Tax Revenue Bonds Same as or one notch lower than GO rating Usually a gross pledge of sales tax revenues Widely accepted but spreads can fluctuate based on debt service coverage levels Requires vote Certificates of Participation One or two notches below GO Rating Typically some form of general fund pledge to make lease payments for an asset Market does not like Annual Appropriation Risk, essentiality of asset being financed is key to market acceptance Does not require vote (no dedicated revenue stream being specifically pledged) Tax Increment Financing (TI Fs) Varies depending upon pledged revenue and size Property and /or sales tax revenues generated by incremental growth Market acceptance strengthened by rating Requires vote to create TIF area Issue Type Comparison 2 Piperfaffray. Recent Mountain Community Transactions Issuer Date Amount Type City of Aspen Public Facilities Authority Steamboat Springs Redevelopment Authority Town of Telluride City of Steamboat Springs Town of Breckenridge Avon Urban Renewal Authority City of Aspen Town of Vail City of Aspen City of Aspen Steamboat Springs Redevelopment Authority Town of Telluride Town of Telluride Breckenridge Mountain Metro District Steamboat Springs Redevelopment Authority Town of Telluride Vail Reinvestment Authority Town of Avon Steamboat Springs City of Aspen T O V A L 2/16/2007 4/12/2007 5/11/2007 10/31/2007 12/27/2007 2/22/2008 9/18/2008 12/30/2008 12/15/2009 12/15/2009 12/22/2009 8/25/2010 8/25/2010 9/9/2010 10/5/2010 11/2/2010 11/4/2010 11/16/2010 12/15/2010 10/3/2011 3 $ 8,405,000 $ 9,000,000 $ 20,000,000 $ 5,285,000 $ 3,620,000 $ 25,000,000 $ 5,500,000 $ 6,300,000 $ 6,005,000 $ 7,070,000 $ 17,500,000 $ 9,785,000 $ 9,655,000 $ 2,640,000 $ 20,565,000 $ 10,000,000 $ 11,940,000 $ 6,680,000 $ 3,785,000 $ 2,375,000 Certificates of Participation Tax Increment Revenue Bonds Excise Tax Revenue Bonds Certificates of Participation Certificates of Participation Tax Increment Revenue Bonds General Obligation Electric Utility Bonds Sales Tax Revenue Bonds General Obligation Housing Bonds Parks & Open Space Sales Tax Revenue Bonds Tax Increment Revenue Bonds Certificates of Participation Excise Tax Revenue Bonds General Obligation Bonds Tax Increment Revenue Bonds General Obligation Bonds Tax Increment Revenue Bonds Certificates of Participation Certificates of Participation General Obligation Bonds Piperfaffray. Town of Vail Historical Bond Issuance Description Date Amount Notes Series 1991 Sales Tax Revenue Bonds Series 1992A General Obligation Refunding Bonds Series 1992B Sales Tax Revenue Refunding & Improvement Bonds Series 1998A Sales Tax Refunding Bonds Series 1998B Taxable Sales Tax Refunding Bonds Series 2002A General Obligation Refunding Bonds Series 2002B Sales Tax Revenue Refunding Bonds Series 2008 Sales Tax Revenue Refunding Bonds Series 2010A Tax Increment Revenue Bonds Series 2010B Tax Increment Revenue Bonds 4 12/30/1991 10/22/1992 10/22/1992 10/6/1998 10/6/1998 9/1/2002 9/1/2002 12/30/2008 11/4/2010 11/4/2010 $ 2,555,000 $ 7,500,000 $ 15,165,000 $ 8,760,000 $ 735,000 $ 3,205,000 $ 5,570,000 $ 6,300,000 $ 3,670,000 $ 8,270,000 Refunded Refunded Refunded Refunded Matured Matured Final Maturity 12/1/2012 Final Maturity 12/1/2012 Final Maturity 6/1/2018 Final Maturity 6/1/2030 Piperfaffray. Estimated Repayment Costs under Various Structures MAT General Obligation Bonds Sales & Use Tax Rev Bonds Certificates of Participation 20 year 30 year 20 year 30 year 20 year 30 year Net Project Cost Avg. Annual Debt Service Total Debt Service Total Par Amount 12, 500, 000 12, 500,000 853,469 693,163 16,623,147 20,448,294 12, 700,000 12, 700,000 5 12, 500, 000 12, 500, 000 923,460 742,568 18,007,463 21,905,753 13,635,000 13,450,000 12, 500, 000 12, 500, 000 860,188 700,896 16,773,663 20,676,428 12, 700, 000 12, 700, 000 Piperfaffray. i TC9VN OF'Via Questions? 6 Pipedaffray IOODYS INVESTORS SERVICE New Issue: MOODY'S ASSIGNS A3 RATING TO VAIL REINVESTMENT AUTHORITY (CO) $11.9 MM TAX INCREMENT REVENUE BONDS, SERIES 2010AAND 2010B Global Credit Research - 25 Oct 2010 RATING AFFECTS $11.9 MM IN DEBT, INCLUDING CURRENT OFFERING Municipality CO Moodys Rating ISSUE RATING Tax - Exempt Tax Increment Revenue Bonds Series 2010A A3 Sale Amount $2,795,000 Expected Sale Date 10/25/10 Rating Description TaxAllocation Taxable Tax Increment Revenue Bonds (Direct Pay Build America Bonds) Series 2010B A3 Sale Amount $9,140,000 Expected Sale Date 10/25/10 Rating Description TaxAllocation Opinion NEW YORK, Oct 25, 2010 -- Moody's Investors Service has assigned aA3 rating to Vail ReinvestmentAuthority (CO) Tax Increment Revenue Bonds Series 2010Aand 2010B in the aggregate amount of $11.9 million. The bonds are secured by a pledge of incremental property tax revenue collected within the 77 acre LionsHead plan area. Bond proceeds will finance the construction of an urban renewal project, including a new transit and welcome center, portal improvements, library remodel, new surface parking, and will fund a debt service reserve account. RATING RATIONALE The rating assignment primarily reflects the strong growth in the taxing area, including significant additional increment which added to the taxbase in 2011. The assignment also reflects satisfactory debt service coverage, legal provisions and the authority's limited debt. SMALL, SOMEWHAT CONCENTRATED HIGH QUALITY VAIL- AREATAX BASE The Town of Vail (Issuer rated Aa1) resides just 100 miles west of Denver (GO rated Aaa with stable outlook), within the Rocky Mountains. The very small plan area spans approximately 77 acres at the base of the LionsHead Gondola for the Vail Ski Area; the town owns approximately 34.4 acres (44.7 %) in the plan area. The plan area is primarily residential (20 %), followed by streets (16.8 %), open space (15.7 %) and mixed use (11.9 %). The residential and mixed use properties dominate the project area, with top ten taxpayers representing 34.3% of total assessed valuation (AV). RECENT GROWTH YIELDS SATISFACTORY DEBT SERVICE COVERAGE The town benefits from Vail's strong reputation as an international ski destination. AV in the tax increment area grew at an average annual basis by 25.7% from a base of $60.3 million in collection year 2006 to $150.3 million in collection year 2010. For 2011, AV is expected to grow by 13.2% to $170.2 million. Fiscal 2013 maximum annual debt service (MADS) of $1.0 million is covered by collection year 2010 pledged revenues ($2.0 million) at a satisfactory level of 1.94x (excluding the Build America Bond subsidy); including the Build America Bond subsidy, MADS coverage increases to 2.33x. Expected 2011 pledged revenues of $2.8 million yields MADS coverage of 2.72x (excluding the Build America Bond subsidy). Should pledged revenues decline to 2009 levels ($1.7 million), MADS coverage would remain sufficient at 1.69x (excluding the Build America Bond subsidy). At the current debt service coverage level the project area could withstand the complete loss of tax revenues equal to that generated by the ten largest taxpayers and still meet MADS on these obligations. SATISFACTORY LEGAL PROVISIONS; PROCEEDS FUND RESERVE The authority's tax increment revenue bonds are fixed -rate and secured by a senior (sole) lien pledge of incremental property tax revenues. The pledged property tax increment may be collected within the plan area until 2030. The additional bonds test calls for pledged revenues to provide annual coverage of debt service (defined as average annual debt service) equal to 2.00 times; the authority has no plans for additional debt. The debt service reserve fund requirement is equal to the standard "lesser of" test and will be funded with a contribution by the authority at $1.0 million. Other than the current fixed -rate offering, the authority has no other debt outstanding. What could move the rating - UP Trend of significant growth in service population Substantial appreciation of service area What could move the rating - DOWN Significant deterioration of financial position 12/20/2011 6 -4 -7 • Protracted decline in coverage KEY STATISTICS Security: Tax increment revenue and debt service reserve fund. Size of the District: 77 acres Base Year AV (collection year 2006): $60.3 million CurrentAV (collection year 2010): $150.3 million Estimated AV (collection year 2011): $170.2 million Estimated Town Population: 5,027 Top 10 Taxpayers as % CurrentAV: 34.3% Bond Payout, 10 years: 41.0% Coverage of Estimated Maximum Debt Service by 2010 Pledged Revenues: 1.94 times Coverage of Estimated Maximum Debt Service by Estimated 2011 Pledged Revenues: 2.72 times 1999 City Per Capita Income as % State: 176.3% 1999 City Median Family Income as % State: 132.7% PRINCIPAL METHODOLOGYAND LAST RATING ACTION This is the initial rating action for Vail Reinvestment Authority (CO). Vail ReinvestmentAuthority's bond rating was assigned by evaluating factors believed to be relevant to the credit profile of the issuer such as i) the business risk and competitive position of the issuer versus others within its industry or sector, ii) the capital structure and financial risk of the issuer, iii) the projected performance of the issuer over the near to intermediate term, iv) the issuer's history of achieving consistent operating performance and meeting budget or financial plan goals, v) the nature of the dedicated revenue stream pledged to the bonds, vi) the debt service coverage provided by such revenue stream, vii) the legal structure that documents the revenue stream and the source of payment, and viii) and the issuer's management and governance structure related to payment. These attributes were compared against other issuers both within and outside of Orlando's core peer group and the tax increment rating is believed to be comparable to ratings assigned to other issuers of similar credit risk. REGULATORY DISCLOSURES Information sources used to prepare the credit rating are the following: parties involved in the ratings and public information. Moody's Investors Service considers the quality of information available on the credit satisfactory for the purposes of assigning a credit rating. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third -party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process. Please see ratings tab on the issuer /entity page on Moodys.com for the last rating action and the rating history. The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information. Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery. Analysts Justin Resuello Analyst Public Finance Group Moody's Investors Service Patrick Ford Backup Analyst Public Finance Group Moody's Investors Service Matthew A. Jones Senior Credit Officer Public Finance Group Moody's Investors Service Contacts 12/20/2011 6 -4 -8 Journalists: (212) 553 -0376 Research Clients: (212) 553 -1653 Moody's Investors Service 250 Greenwich Street New York, NY 10007 USA MOODY'S INVESTORS SERVICE © 2010 Moody's Investors Service, Inc. and /or its licensors and affiliates (collectively, "MOODYS "). All rights reserved. CREDIT RATINGS PRE MOODY'S INVESTORS SERVICE, INC.'S ( "MIS ") CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT -LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. 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Any publication into Australia of this document is by MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399 657, which holds Australian Financial Services License no. 336969. This document is intended to be provided 12/20/2011 6 -4 -9 only to "wholesale clients" within the meaning of section 761 G of the Corporations Act 2001. By continuing to access this document from within Australia, you represent to MOODY'S that you are, or are accessing the document as a representative of, a "wholesale client" and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to "retail clients" within the meaning of section 761 G of the Corporations Act 2001. Notwithstanding the foregoing, credit ratings assigned on and after October 1, 2010 by Moody's Japan K.K. ( "MJKK') are MJKK's current opinions of the relative future credit risk of entities, credit commitments, or debt or debt -like securities. In such a case, "MIS" in the foregoing statements shall be deemed to be replaced with "MJKK ". MJKK is a wholly -owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly owned by Moody's Overseas Holdings Inc., a wholly -owned subsidiary of MCO. This credit rating is an opinion as to the creditworthiness or a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors. It would be dangerous for retail investors to make any investment decision based on this credit rating. If in doubt you should contact your financial or other professional adviser. 12/20/2011 6 -4- 10 MOODY'S UPGRADES VAIL, COLORADO'S SALES TAX REVENUE... http:// www. moodys. com /moodys /cust/research/MDCdocs /01/200730000... Global Credit Research -_ New Issue Moody's investors sw.rtca 1 OCT 2008 New Issue: Vail (Town of) CO MOODY'S UPGRADES VAIL, COLORADO'S SALES TAX REVENUE BONDS TO Aa3 FROM Al; Aa2 ISSUER RATING ASSIGNED $10.3 MILLION IN SALES TAX REVENUE DEBT AFFECTED, INCLUDING CURRENT OFFERING Municipality CO Moody's Rating ISSUE RATING Sales Tax Revenue Refunding Bonds, Series 2008 Aa3 Sale Amount $6,320,000 Expected Sale Date 10/07/08 Rating Description Sales and Use Tax Opinion NEW YORK, Oct 1, 2008 -- Moody's Investors Service has assigned an Aa3 rating to the Town of Vail, Colorado's Sales Tax Revenue Refunding Bonds, Series 2008 in the approximate amount of $6.32 million. In addition, Moody's has upgraded the town's parity sales tax revenue bonds to Aa3 from Al, affecting approximately $3.92 million in outstanding bonds. Concurrently, Moody's also assigns an Aa2 Issuer Rating to the town. The current offering is secured by the town's first lien pledge of its 4% sales tax generated revenues, which account for approximately one -third of the town's annual revenues. Bond proceeds will refund certain maturities of the town's outstanding Sales Tax Revenue Bonds, Series 1998A, which will realize interest savings. The town's high ratings primarily reflect consistent financial results driven by prudent fiscal management, which has committed itself to maintaining healthy general fund reserve levels. The town's well - established resort economy is also important in the assigned ratings and has experienced steady growth in taxable and full property values, which along with moderate borrowing, has supported the town's very low debt burden. In addition, the Aa3 rating on the Sales Tax Revenue Refunding Bonds reflects strong coverage of maximum annual debt service by pledged revenues, adequate legal provisions. CONSISTENT FINANCIAL RESULTS DESPITE MODESERATING SALES TAX GROWTH Historically stable and conservative financial planning bolstered the town's financial results in recent years; management has consistently maintained adequate reserves, despite high dependence on sales tax revenue. Over the past five years, ending General Fund balance averaged over 50% of revenues. In fiscal 2007, the town achieved a historical peak year -end General Fund balance of $19.8 million (61.9% of revenues), which is in line the town's recently upward revision to its reserve policy: 35% of the following year's anticipated revenues should be maintained as reserves, whereas the previous policy outlined a 25% level. Though the town experienced increased energy expenditure costs as other municipalities have nationwide, management effectively managed this challenge by budgeting these expenditures conservatively. For fiscal 2009, management expects reserves to be maintained at 12/20/2011 6 -4- 11 1 of4 12/17/2008 2:35 PM MOODY'S UPGRADES VAIL, COLORADO'S SALES TAX REVENUE... http:// www. moodys. com /moodys /cust/research/MDCdocs /01/200730000... levels consistent with 2008 performance. From 2002 to 2007, sales tax growth has averaged 4.6% annually, which reflects a more recent slowing trend that. Most recently, sales tax grew 6.0% in fiscal 2007, compared to 8.2% in the previous year. The town has adjusted its upcoming budget accordingly and anticipates that sales tax revenue will account for approximately 40% of all of the town's revenues. Sales tax revenues, 70% of which are primarily collected from mid - November through mid - April, are generally affected by the seasonal tourism season related to skiing. Variables include snow conditions, the number of days Vail Mountain is open, local and international travel conditions, construction activity in Vail, and the general economy. The lattermost factor has become of increasing concern recently, and Moody's anticipates that sales tax growth will moderate in the near -term due to the economic downturn and increased travel costs. AMPLE COVERAGE OF SALES TAX BONDS; ADEQUATE LEGAL PROTECTIONS Moody's anticipates that coverage of maximum annual debt service (MADS) by the town's pledged first lien on its 4.0% sales tax will remain ample. Over the past five years, coverage of MADS by pledged revenues has averaged a strong 7.23 times, although excess revenues also fund town operations. The top ten generators of sales tax revenue are also fairly concentrated at around 32 %. Adequate bondholder protections include a debt service reserve equal to the least of 10% of outstanding principal plus investment earnings, maximum annual debt service, or 125% of average annual debt service. Moody's notes that the town expects to satisfy the reserve requirement with a surety bond; application has been made to MBIA (A2 /negative insurance financial strength rating) for a commitment to issue a surety bond for the 2008 Bonds. Further security is provided by an additional bonds test that requires 1.50 times coverage of debt service requirements for 12 preceding months. VAIL HAS STRONG REPUTATION AS DESTINATION SKI RESORT Approximately 100 miles west of Denver, the town of Vail is located within the Rocky Mountains at the base of Vail Ski Resort, encompassing roughly five square miles. The ski resort was founded in 1962, and is owned by Vail Resorts, Inc., (LT Corporate Family Rating Ba3 Positive Outlook) which represents the town's largest employer with over 6,000 employees during the ski season. Vail is the single largest ski area in North America, and industry experts consistently rank the resort among the top five in North America. Visits to the Vail and Beaver Creek ski areas have remained fairly steady, though due to the economic downturn, they have declined slightly from 20.7% of statewide visits in 2003 -2004 to an estimated 19.8% in 2007 -2001. The resort continues to add skiable acres and expected additional revenues from the opening of the Arrabelle, Vail Plaza Hotel, and One Willow Bridge. Future development should resume in two to three years with Evervail and Lions Head coming online in that timeframe. The town's permanent population is estimated to have increased approximately 6% since 2000 to a modest 4,800. This figure swells to a peak daily winter population of approximately 32,000. The town's fiscal 2008 $9.5 billion full market valuation has increased a significant 17.5% on average annually since 2003, reflecting biannual reassessment of existing property values as well as continuing development of seasonal housing and commercial properties. Moody's expects future new real estate development to remain constrained by the lack of available land and developmental emphasis in other areas such as Bachelor Gulch Village in Beaver Creek. Full value per capita is extremely high at $1.99 million (a new high for Aa2 -rated Colorado cities), and median home values, according to the 2000 census, equal $575,000. EXTREMELY LOW DEBT BURDEN WITH NO SIGNIFICANT FUTURE BORROWING 12/20/2011 6 -4- 12 2 of4 12/17/2008 2:35 PM MOODY'S UPGRADES VAIL. COLORADO'S SALES TAX REVENUE... http:// www. moodys. com /moodys /cust/research/MDCdocs /01/200730000... The town's direct debt burden remains very low at 0.1 %, and sales tax revenue bond debt retirement is rapid, being fully repaid within five years. The town does not have any outstanding general obligation debt, nor any remaining authorization. The town is in preliminary discussions to consider additional capital improvements, including fire stations, which would be funded through tax increment financing, by certificates of participation, or on a pay -as- you -go basis. Moody's anticipates that the city's debt will remain very manageable, given the expectation that future issuance will be minimal. KEY STATISTICS: Population: 4,800 2008 Full market valuation: $9.53 billion Full value per capita: $1.99 million Direct debt burden: 0.1% Payout of principal (Sales Tax Debt): 100% in 5 years Fiscal 2007 General Fund balance: $19.8 million (61.9% of revenues) Peak sales tax debt service coverage (2007 revenues): 12.02 times Analysts Justin Resuello Analyst Public Finance Group Moody's Investors Service Jolene K. Yee Backup Analyst Public Finance Group Moody's Investors Service Matthew Jones Senior Credit Officer Public Finance Group Moody's Investors Service Contacts Journalists: (212) 553 -0376 Research Clients: (212) 553 -1653 © Copyright 2008, Moody's Investors Service, Inc. and /or its licensors including Moody's Assurance Company, Inc. (together, "MOODY'S "). All rights reserved. CREDIT RATINGS ARE MIS'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT -LIKE SECURITIES. MIS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY 12/20/2011 6 -4- 13 3 of4 12/17/2008 2:35 PM MOODY'S UPGRADES VAIL, COLORADO'S SALES TAX REVENUE... http : / /www.moodys.comhnoodys /cust/ research /MDCdocs /01/200730000... 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MOODY'S hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MOODY'S have, prior to assignment of any rating, agreed to pay to MOODY'S for appraisal and rating services rendered by it fees ranging from $1,500 to approximately $2,400,000. Moody's Corporation (MCO) and its wholly -owned credit rating agency subsidiary, Moody's Investors Service (MIS), also maintain policies and procedures to address the independence of MIS's ratings and rating processes. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold ratings from MIS and have also publicly reported to the SEC an ownership interest in MCO of more than 5 %, is posted annually on Moody's website at www.moodys.com under the heading "Shareholder Relations - Corporate Governance - Director and Shareholder Affiliation Policy." 12/20/2011 6 -4- 14 4 of 4 12/17/2008 2:35 PM TEM OF I s VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: Second reading of Ordinance No. 26, Series 2011, an ordinance making adjustments to the Town of Vail General Fund, Capital Projects Fund, Real Estate Transfer Tax Fund, Heavy Equipment Fund, Health Insurance Fund and Conference Center Fund. PRESENTER(S): Kathleen Halloran ACTION REQUESTED OF COUNCIL: Approve or approve with amendments Ordinance No. 26, Series 2011 BACKGROUND: Provided in attached memo STAFF RECOMMENDATION: Approve or approve with amendments Ordinance No. 26, Series 2011 ATTACHMENTS: Ord 26 3rd supp 12/20/2011 TO WN OF 9 Memorandum TO: Vail Town Council FROM: Finance Department DATE: December 14, 2011 SUBJECT: 2011 Budget Amendment — Ordinance 26 I. SUMMARY Staff is requesting approval of Ordinance 26 upon second reading, the third budget supplemental appropriation this year. II. DISCUSSION There have been no changes since the first reading of this ordinance. 12/20/2011 7 -1 -1 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE GENERAL FUND 2011 2011 2010 Original 1st 2011 2nd 2011 3rd Proposed Actual Budget Supplemental Amended Supplemental Amended Supplemental Amended Comments Revenue Local Taxes: $ 17,676,115 $ 16,900,000 $ 16,900,000 $ 900,000 $ 17,800,000 $ 17,800,000 Sales Tax Split b/t Gen'I Fund & Capital Fund 57/43 61/39 61/39 61/39 61/39 Sales Tax $ 10,143,624 $ 10,310,000 - $ 10,310,000 $ 549,000 $ 10,859,000 $ 10,859,000 Property and Ownership 4,951,386 5,055,000 - 5,055,000 5,055,000 5,055,000 Ski Lift Tax 3,357,717 3,193,000 - 3,193,000 3,193,000 3,193,000 Franchise Fees, Penalties, and Other Taxes 1,040,425 1,087,402 - 1,087,402 1,087,402 1,087,402 Licenses & Permits 1,387,337 732,200 - 732,200 732,200 308,000 1,040,200 Contractors license, construction permits and plan check fees Intergovernmental Revenue 1,929,121 1,524,065 1,300 1,525,365 1,525,365 461,982 1,987,347 County Road & Bridge tax $360K ; Reimbursement for wildfire deployment $100.2K; $1.8K DOL grant for Library Transportation Centers 5,037,042 4,911,500 - 4,911,500 (500,000) 4,411,500 4,411,500 Charges for Services 875,627 702,963 90,000 792,963 18,000 810,963 (1,500) 809,463 $18.5K of police contract services offset by $20K reduction in RETT collection fees Fines & Forfeitures 271,561 305,000 - 305,000 305,000 305,000 Earnings on Investments 119,049 194,000 - 194,000 194,000 194,000 Rental Revenue 862,151 869,816 - 869,816 869,816 869,816 Miscellaneous and Project Reimbursements 386,271 161,658 56,699 218,357 62,250 280,607 74,490 355,097 EverVail reimbursement $70K; Insurance reimb $4.5K Total Revenue 30,361,311 29,046,604 147,999 29,194,603 129,250 29,323,853 842,972 30,166,825 Expenditures Salaries 13,045,680 13,671,012 (65,854) 13,605,158 100,000 13,705,158 106,789 13,811,947 Wildfire deployments, police contract services Benefits 4,622,295 4,595,579 (37,649) 4,557,930 4,557,930 8,347 4,566,277 Wildfire deployments Subtotal Compensation and Benefits 17,667,975 18,266,591 (103,503) 18,163,088 100,000 18,263,088 115,136 18,378,224 Contributions and Special Events 1,283,494 1,348,750 250,000 1,598,750 12,000 1,610,750 1,610,750 All Other Operating Expenses 4,990,731 5,869,021 233,324 6,102,345 216,000 6,318,345 (41,364) 6,276,981 EverVail legal /consulting fees of $70K, street light repair $4.5K, wildfire deployment travel $3.6K, Library computer (DOL grant) $1.8K and bank charges $3.8K offset by savings in natural gas utilities of $125K Heavy Equipment Operating Charges 1,993,320 2,071,117 - 2,071,117 15,000 2,086,117 126,490 2,212,607 Increase in fuel charges spread to all departments Heavy Equipment Replacement Charges 697,630 546,104 - 546,104 546,104 546,104 Dispatch Services 522,213 537,827 - 537,827 537,827 537,827 Total Expenditures 27,155,363 28,639,410 379,821 29,019,231 343,000 29,362,231 200,262 29,562,493 Revenue Over (Under) Expenditures 3,205,948 407,194 (231,822) 175,372 (213,750) (38,378) 642,710 604,332 Transfer to Capital Projects Fund (3,742,673) - - (1,845,800) (1,845,800) (1,845,800) Transfer to Capital Projects Fund for implementation of energy audit enhancements Winter Economic Marketing Campaign Total Expenditures 30,898,036 28,639,410 379,821 29,019,231 2,188,800 31,208,031 200,262 31,408,293 Surplus Net of Transfers & New Programs (536,725) 407,194 (231,822) 175,372 (2,059,550) (1,884,178) (1,241,468) Beginning Fund Balance 23,423,417 20,340,414 2,546,278 22,886,692 22,886,692 22,886,692 Ending Fund Balance $ 22,886,692 $ 20,747,608 $ 23,062,064 $ 21,002,514 $ 21,645,224 EHOP balance included in ending fund balance not spendable $ 690,000 $ $ 690,000 $ 690,000 $ 690,000 12/20/2011 7 -1 -2 -2 TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2011 1st 2011 2nd 2011 3rd Proposed Actual Budget Supplemental Amended Supplemental Amended Supplemental Amended Project Information Total Sales Tax Revenue: $ 17,676,115 $ 16,900,000 $ 16,900,000 $ 900,000 $ 17,800,000 $ 17,800,000 Sales Tax Split between General Fund & Capital Fund 57/43 61/39 Sales Tax - Capital Projects Fund $ 7,712,020 $ 6,590,000 $ 6,590,000 $ 351,000 $ 6,941,000 $ 6,941,000 Use Tax 1,103,118 500,000 500,000 500,000 231,000 731,000 Based on YTD actual collections Federal Grant Revenue 3,576,818 1,428,000 1,428,000 1,428,000 748,364 2,176,364 $828K for bridge reconstruction, $1,334,114 for Transit Center; $14,250 for Live Scan grant Other State Revenue - 10,000 10,000 10,000 Virtual Briefing police grant Lease Revenue 183,170 184,500 184,500 184,500 184,500 Per Vail Commons commercial and residential leases Employee Housing Fee -In -Lieu 106,764 - - - 250,000 250,000 Based on YTD actual collections Project Reimbursement 1,507,522 - - 850,000 850,000 236,163 1,086,163 $577K Wenk case settlement for capital repairs; $203K Holy Cross Community Enhancement Funds, $55K reimb from Vail homeowners and $15K from Vail Rec Distrcit for underground utility projects; $175,163 insurance reimb for July flood; $55,000 insurance reimbursement for LH parking booth accident; $6K sale of elevator LH parking structure Resale of Arosa duplex 816,541 - - - - Resale of Arosa duplex constructed by the town Earnings on Investments and Other 93,465 - - - - Total Revenue 15,099,418 8,702,500 - 8,702,500 1,211,000 9,913,500 1,465,527 11,379,027 Maintain Town Assets Bus Shelters 1,046 27,900 - 27,900 27,900 27,900 Parking Structures 246,985 504,000 504,000 504,000 504,000 Facilities Capital Maintenance 231,246 450,000 175,000 625,000 625,000 625,000 $450 scheduled capital projects; $130K for energy audit work, $20K for final payment of mechanic garage doors at PW Shops; $25K added for Vail Village Inn loading & delivery facility improvements Library Roof Replacement 390,615 - 102,840 102,840 102,840 102,840 Final bills for Library roof project; Savings of $9,400 Main Vail Station Roof Replacement - 250,000 250,000 250,000 (250,000) Station remodel is planned for 2013; Roof will be a part of that remodel Creekside Housing Improvements 110,581 160,000 160,000 160,000 160,000 Need to gut plumbing; electrical wiring; roofing, etc.; asbestos and mold remediation; 4 units were completed in 2010; plan to do 4 more in 2011; in 2012, complete remaining 4 units and replace exterior siding, stairs and decks Vail Village Inn Condo Roof (TOV Portion) 17,000 17,000 17,000 17,000 17,000 Capital assessment from owners' association for space owned by town Street Light Improvements 67,496 67,500 67,500 67,500 67,500 New street lights and to refurbish residential lighting Capital Street Maintenance 270,321 1,153,500 1,153,500 1,153,500 62,479 1,215,979 On -going maintenance to roads and bridges including asphalt overlays, patching and repairs; Transfer of $62,479 from Surface Pkg Lot VRA project because Ftg Rd parking study not TIF capital improvement Flood incident repairs 992 - 8,048 8,048 460,000 468,048 75,700 543,748 Relating to flood repairs: Reconstruct a portion of Rockledge drainage improvements, Big Horn Creek culvert repair /replacement at Columbine and Spruce Way, Booth Creek improvements to mitigate future flooding of culverts, tennis courts and playgrounds. Audio Visual 1,883 10,000 31,996 41,996 41,996 41,996 Re- appropriate for mixer board and cameras in the Council chambers for recording of meetings Document Imaging 115,956 116,000 14,636 130,636 130,636 130,636 Supplement for continuation of historical scanning (outside vendor); Annual maintenance, licensing and contract position thru 2011; later years annual software licensing Software Licensing 18,323 33,640 33,640 33,640 33,640 Annual renewal of software licenses Hardware Purchases 95,158 65,000 65,000 65,000 65,000 Scheduled rotation of PCs, printers and servers Data Center (Computer Rooms) 7,117 15,000 15,000 15,000 15,000 Based on annual replacement schedule of security and power systems for 3 computer rooms Website and e- commerce - 27,000 12,000 39,000 39,000 39,000 Rescheduled the website redevelopment to coincide with the Guest Service Enhancement project Comm Dev ArcGIS System 3,472 - 16,000 16,000 16,000 16,000 Web access to town GIS information (similar to County's website GIS product) Fiber Optics in Buildings 24,375 17,000 17,000 17,000 17,000 Cabling / Network Infrastructure; to repair, maintain & upgrade Network upgrades 34,693 21,000 1 7/7(1/7(11 1 21,000 21,000 21,000 Computer network systems - replacement cycle every 3 -5 years 7 -1 -3 -3- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2011 1st 2011 2nd 2011 3rd Proposed Actual Budget Supplemental Amended Supplemental Amended Supplemental Amended Project Information Computer Aided Dispatch (CAD) / RMS Project 69,204 57,000 57,000 57,000 57,000 County -wide "Computer Aided Dispatch /Records Mgmt System" ; includes patrol car laptops and software used to push information to TOV and other agencies Radio Tower (Vail R56) 30,000 30,000 30,000 Town's portion of wireless communication equipment upgrade Virtual Briefing System 10,000 10,000 10,000 Police Virtual Briefing equipment (grant funded) Intergraph software upgrade - 80,000 80,000 80,000 80,000 TOV portion of upgrade to computer -aided dispatch system Live Scan Interface 14,250 - 14,250 14,250 14,250 14,250 Funded by grant above; Links our Live Scan software to other agencies Total Maintenance 1,720,713 3,071,540 374,770 3,446,310 500,000 3,946,310 (111,821) 3,834,489 Enhancement of Town Assets Comm Dev Interactive Permit software - - 225,000 225,000 225,000 225,000 Replacement of Permit Plus software; allows for web access by customers Energy Enhancements - - - - 3,122,715 3,122,715 3,122 Implementation of energy audit enhancements (includes reimb from VRA, RETT, and GF) New Fire Truck 316,083 - 253,917 253,917 253,917 253 New fire truck for additional station; Deposit made in 2010; delivery in 2011 Library Self -Check System 83,673 - - - - - Funded by library grants West Meadow Drive 19,555 - - - - - Completion of streetscape project Village Streetscape 594,961 - 172,429 172,429 172,429 172 Re- appropriate for newspaper boxes (approx. $76K) and signage of $21,000 with remainder for Guest Service Enhancement project Neighborhood Road Reconstruction 195,055 1,800,000 238,701 2,038,701 2,038,701 2,038,701 Re- appropriate to cover $175K final bill for Mill Creek Circle and $63K for design for Vail Valley Drive project, with construction to be pushed to 2012 Neighborhood Bridge Reconstruction 4,118 1,050,000 145,882 1,195,882 1,195,882 1,195,882 Matterhorn Bridge reconstruction moved to 2012 due to CDOT fiscal year and requirements; Design and planning in 2011; Partial funding from federal grant ($828K) Parking Entry System /Equipment 75,123 55,000 55,000 Repairs to parking booth equipment from vehicle accident; Insurance reimbursed Replace Buses - 1,203,400 2,283,214 3,486,614 3,486,614 3,486,614 6 buses ordered in 2010- will take delivery in 2011; 2011 2 Hybrid buses Timber Ridge Legal /Zoning 65,243 - 50,000 50,000 50,000 50,000 Continuation of negotiations, legal and rockfall mitigation efforts Manor Vail Street Plan 83,800 83,800 83,800 83 Expenditure related to impact fee paid by Manor Vail development; Keep funds in bugdet due to developer agreement Total Enhancements 1,353,811 4,053,400 3,452,943 7,506,343 3,122,715 10,629,058 55,000 10,684,058 New Assets LionsHead Transit Center (VRA) 4,410,909 - 1,089,091 1,089,091 300,000 1,389,091 30,854 1,419,945 $300K based on council- approved changes to project including $100K for skier locker / host room (approved April 5); Continuation of the project; $5.0 million from Federal grant; remainder transferred from VRA; $30,854 relating to work done for Eagle River Water & Sanitation District which was reimbursed to the town but never put back into the project budget. Welcome Center (VRA) 358,294 6,830,319 111,387 6,941,706 6,941,706 593,000 7,534,706 Continuation of the project; Funded by the Vail Reinvestment Authority; Includes $187K of changes approved by Council Sept 6, $6K from sale of elevator and approx. $400K of cost overruns Surface Parking Addition (VRA) 2,521 900,000 62,479 962,479 962,479 (962,479) _ Charter bus lot improvements were done without additional costs; Remaining funds used for Frontage Rd parking survey work East LionsHead Portal (VRA) - 200,000 200,000 200,000 200,000 Design work approved by Council Feb 1st; Funded by the Vail Reinvestment Authority West LionsHead Portal (VRA) - 75,000 75,000 75,000 7 5,000 Design work approved by Council Feb 1st; Funded by the Vail Reinvestment Authority Library Remodel - 475,000 475,000 475,000 (300,500) 174,500 Funded by the Vail Reinvestment Authority; Reduction based on timing of project (moved to 2012) of $375 offset by $74.5K of insurance proceeds allocated to the project Guest Services Enhancements - - - - 217,800 217,800 Phase I in LH Welcome Center as approved by Council Sept 6 West Vail Fire Station 3,296,382 - 2,003,618 2,003,618 2,003,618 2,003,618 To complete construction of West Vail Fire Station Arosa Drive - Duplex for Employee Housing 297,393 - - - - - Development project for deed - restricted housing Buy -down Program - - 552,118 552,118 552,118 552,118 Carry forward program funding 12/20/2011 7 -1 -4 -4- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND 2011 2010 2011 1st 2011 2nd 2011 3rd Proposed Actual Budget Supplemental Amended Supplemental Amended Supplemental Amended Project Information Buy -down Program Funded by Pay -in -Lieu - - 217,803 217,803 217,803 250,000 467,803 Carry forward current balance of program funding: Housing funded directly by Pay -in -Lieu fees collected from developers; $250K increase based on YTD collections Variable Message Signs / Way- Finding Improvements 23,381 180,000 (80,000) 100,000 100,000 100,000 Variable message sign installation; 2011: $100K for Main Vail off ramps; 2012: Four Seasons /Middle Creek; 2013: EverVail; 2014: $65K each for Ford Park and Vail Parking structure 1 -70 Noise 5,040 - 378,140 378,140 378,140 378,140 Re- appropriate for utility relocation for Bald Mountain berm extension Underground Utility improvements - - 273,000 273,000 273,000 Two projects: East Vail on Bighorn Rd and Golf Course to Ford Park; Reimbursements from homeowners totaling $55,000 ($5K from East Vail and $50K from residents near golf course), Vail Rec District ($15K) and Holy Cross directly funding $43,000 for East Vail project Chamonix Area Planning 38,944 - 92,600 92,600 92,600 92,600 $80K for water /utility infrastructure done during construction of W Vail Fire Station; $12.6K final amount due to Martin & Martin Total New Assets: 8,432,864 8,385,319 4,702,236 13,087,555 573,000 13,660,555 (171,325) 13,489,230 Total Capital before Financing 11,507,387 15,510,259 8,529,949 24,040,208 4,195,715 28,235,923 (228,146) 28,007,777 Debt Service and Financing Debt Service on Outstanding Bonds 2,273,957 2,279,572 2,279,572 2,279,572 2,279,572 Annual debt service payments Timber Ridge Debt Service Guarantee - - 925,000 925,000 925,000 925,000 Annual debt service guarantee - requirement of TR debt Total Debt Service and Financing: 2,273,957 2,279,572 925,000 3,204,572 - 3,204,572 - 3,204,572 Total Expenditures 13,781,344 17,789,831 9,454,949 27,244,780 4,195,715 31,440,495 (228,146) 31,212,349 Other Financing Sources (Uses) Transfer from Vail Reinvestment Authority 1,070,365 8,520,319 8,520,319 1,253,951 9,774,270 (195,200) 9,579,070 2011: Implementation of energy audit enhancements ($953.9K) Additional work approved for Transit Center ($300K); Welcome Center construction ($7.4M), Guest Services enhancements at Welcome Center $217.8K; LH Portal improvements design $275K; Library renovation $100K and LH Pkg mtc $315K Transfer from General Fund 3,742,673 - - 1,845,800 1,845,800 1,845,800 Transfer from GF for implementation of energy audit enhancements Transfer from RETT 32,964 32,964 32,964 Transfer from RETT for implementation of energy audit enhancements Revenue Over (Under) Expenditures 6,131,112 (567,012) (9,454,949) (10,021,961) 148,000 (9,873,961) 1,498,473 (8,375,488) Beginning Fund Balance 11,233,206 6,842,351 10,521,967 17,364,318 17,364,318 17,364,318 Ending Fund Balance 17,364,318 6,275,339 7,342,357 7,490,357 8,988,830 *Promissory note due from Childrens' Garden of Leaning included in ending fund balance - not spendable 10,000 10,000 10,000 10,000 12/20/2011 7-1-5 -5- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Proposed 2010 2011 1st Amended 2nd Amended 3rd Amended Actual Budget Supplemental 2011 Supplemental 2011 Supplemental 2011 Comments Real Estate Transfer Tax $ 6,950,702 $ 4,670,000 $ 4,670,000 $ 4,670,000 $ (400,000) $ 4,270,000 Based on YTD collections Federal Grants 13,100 Federal grants for Stephen's Park restoration ($6K), $3K for NWCOG Regional Energy Efficiency grant; $8K for weed control Golf Course Lease 126,768 124,400 124,400 124,400 124,400 Annual lease payment from Vail Recreation District 2% annual increase - deposited to "Recreation Enhancement Account" (accompanying expenditure listed below) VRD repayment for promissory note 1,028,000 - - - - Loan was repaid in full in 2010 Intergovenmental Revenue 33,427 20,000 161,000 181,000 181,000 181 $161,000 GOCO Grant for Red Sandstone playground (matching expense below); $20K Lottery fund proceeds Project Reimbursements 72,902 40,000 40,000 402,950 442,950 442 $400K Insurance reimb for Aspen Ct Bridge and Seibert fountain railing damage ($2,950) Recreation Amenity Fees 39,181 10,000 10,000 10,000 10,000 Earnings on Investments and Other 123,382 15,879 15,879 15,879 2,038 17,917 $2K AIPP sales of posters at Pro - Cycling Challenge Total Revenue 8,387,462 4,840,279 201,000 5,041,279 402,950 5,444,229 (397,962) 5,046,267 Maintain Town Assets Annual Park and Landscape Maintenance 1,198,869 1,317,340 1,317,340 1,317,340 (13,164) 1,304,176 Ongoing path, park and open space maintenance, project mgmt; Transfer of $13K to Raw Water project with ERWSD Management Fee to General Fund (5 %) 347,534 233,500 - 233,500 233,500 (20,000) 213,500 5% of RETT Collections - fee remitted to the General Fund for administration Rec. Path Capital Maint 119,241 104,094 37,083 141,177 141,177 141 Rec path work at Red Sandstone school / pedestrian overpass and Red Sandstone park Tree Maintenance 57,331 65,000 20,000 85,000 85,000 85,000 Regular maintenance for tree health within the town (spraying, removing, new trees); scale spraying on town -owned property at approx. $120 per tree Flood Incident Repairs 269,167 - - - 400,000 400,000 400,000 Replacement of Aspen Court Bridge (reimbursed by insurance) Forest Health Management 206,183 145,000 - 145,000 145,000 145,000 Pine beetle mitigation in conjunction w/ forest service; Street Furniture Replacement 22,472 22,500 - 22,500 22,500 22,500 Annual replacement or capital repairs, includes bike racks Park / Playground Capital Maintenance 94,609 90,000 21,891 111,891 2,950 114,841 114,841 $2,950 Seibert fountain railing repair (insurance reimb) Bald Mountain Ftg Rd / Underpass Project 5,100 200,000 194,900 394,900 394,900 (394,900) Reconstruction of retaining wall that supports bike path through the underpass and widening for future bike path shoulders. Alpine Garden Support 55,620 55,620 10,000 65,620 65,620 65 Re- appropriate $10K to extend an off -cycle grant if BFAG raises $90K in donations (they have currently reached $73,000) Black Gore Creek Sand Mitigation 55,477 50,000 15,600 65,600 65,600 65 $50K Council contribution for 2011; plus $15,600 for the Eagle River Watershed Council for additional water quality monitoring Public Art - Operating 94,072 89,371 89,371 89,371 1,019 90 AIPP salary and operating expenses related to RETT; $1019 to pay artist for posters sold at bike race Environmental Sustainability 253,434 250,000 69,350 319,350 319,350 319,350 $40,000 for recycling expense reimbursed by the County (see revenue above);Re- appropriate $20,000 for water quality improvement plan; $8,850 for Governor's Energy Office rebates; $500 for Vail Daily recycling ads Total Maintenance 2,779,109 2,622,425 368,824 2,991,249 402,950 3,394,199 (427,045) 2,967,154 Enhancement of Town Assets Timber Ridge - Buffehr Creek Rd separation 4,123 - - - - - To finish path from TimberRidge to Roost; offset by Federal Grant Stephen's Park Stream Repairs 63,241 - 2,759 2,759 2,759 2,759 Re- appropriate for streambank stabilization sign (requirement of the grant);Rebuilding of streamside area due to erosion; partially funded by federal grant Trailhead Development / Improvement - 24,000 - 24,000 24,000 24,000 Improve trailheads; Continued need through 2012 (one trail per year) ADA Compliance w/ VRD 533 10,000 10,000 10,000 10,000 Shared costs with VRD - ADA access at recreational facilities;new ADA regulations go into effect 2011 Greenhouse 1,576 - - - - - Project completion Frontage Road Bike Lanes /Trails 29,610 2,275,000 89,658 2,364,658 2,364,658 2,364,658 4 miles of bike lanes (6 foot shoulders) to be added prior to CDOT overlay project; first priority is Blue Cow Chute to East Vail; path from Vail Mtn School to E. Vail exit; construction was budgeted in 2010; now pushed to 2011 and 2012. 12/20/2011 7 -1 -6 -6- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Proposed 2010 2011 1st Amended 2nd Amended 3rd Amended Actual Budget Supplemental 2011 Supplemental 2011 Supplemental 2011 Comments Ford Park Master Plan 145,093 2,150,000 182,924 2,332,924 2,332,924 2,332,924 On -going work for project design related to the masterplan Ford Park Improvements - 200,000 - 200,000 200,000 200,000 Ford Park pathwork, restrooms and other improvements Seibert Circle 16,459 - - - - - Project completion Raw Water / Irrigation Control - - 366,493 366,493 366,493 13,164 379,657 Water supply infrastructure; ERWSD working on bringing system up to consistent operation prior to bill being paid; $13K transfer from park maintenance to complete this project Kayak Take -out 10,000 10,000 10,000 10,000 Re- appropriate developer contribution to be used for whitewater improvements Stream Tract Encroachment Survey - - 14,081 14,081 14,081 14,081 Survey along Gore Creek Red Sandstone Park - Per Safety plan - - 464,000 464,000 464,000 464,000 Reconstruction of playground per safety plan; 20 years old Red Sandstone Playground GOCO Grant 161,000 161,000 161,000 161,000 Pass through GOCO grant proceeds to school district for Red Sandstone playground Booth Creek Playground - 15,000 15,000 15,000 15,000 Design in 2011; deferred construction until 2012 Booth Creek Park redevelopment - 50,000 50,000 50,000 50,000 Design in 2011; deferred construction until 2012 Public Art - General program / art 24,040 80,000 205,997 285,997 285,997 1,019 287,016 To purchase sculptures, artwork, art programs and events; remainder is re- appropriated each year to accumulate enough funds; Annual Manhole cover sales add funds each year; $1,019 proceeds from poster sales at bike race Public Art - Morales relocation 44,036 95,000 120,692 215,692 215,692 215,692 Re- appropriate to continue relocation project Public Art - Winterfest 38,394 51,600 51,600 51,600 51,600 Recognize donations made in 2010 for Winterfest event; approximate cost of $25K per year Guest Service Enhancements 100,000 100,000 100,000 100,000 Planning and design only; implementation currently unfunded; Will present plan to Council for approval Landscape Medians 3,256 - 40,000 40,000 40,000 40,000 Frontage road medians alongside redevelopment projects;Re- appropriate to modify landscaping in front of the Sebastian to reduce water usage and ongoing maintenance Open Space Land Acquisition 350,261 - - 290,000 290,000 290,000 Purchase of land above Timber Ridge development Total Enhancements 720,622 4,999,000 1,709,204 6,708,204 290,000 6,998,204 14,183 7,012,387 VRD- Managed Facility Projects Recreation Enhancement Account - 124,400 253,500 377,900 377,900 377,900 Carryforward balance: Reserve account for golf course improvements - funded by annual lease revenue Golf Course Irrigation 23,405 - - - - 2010: to complete irrigation project (50% share with VRD) Golf Course Clubhouse 23,349 753,187 539,101 1,292,288 (26,322) 1,265,966 1,265,966 Originally budgeted for clubhouse renovations; with passing of Conf Center ballot, these funds will be used toward the Clubhouse project Golf Course - Other Improvements 200,799 - 374,301 374,301 26,322 400,623 400,623 Improvements to golf course: 7th tee box retaining wall, 11th and 17th hole bridges;improvements to maintenance building including stucco, wood trim and soffits Dobson Ice Arena 58,843 128,159 181,157 309,316 50,000 359,316 359,316 $50K to replace or repair almost all doors; Re- appropriation includes $10,000 for electrical panel upgrade; $120K for louver system upgrade; $25K for refurbishment of wood exterior; $26,157 for landscape plan Ford Park / Tennis Center Improvements 84,656 227,423 206,330 433,753 433,753 433,753 Re- appropriate to refurbish Ford Park tennis courts Youth Services 25,000 25,000 25,000 25,000 Re- appropriate to help fund transition expenses (FF &E, interior finishes, etc) with new Welcome Center project Gymnastics Center - - 25,000 25,000 25,000 25,000 Waiting on energy audit prior to installing cooling system Nature Center 4,471 - 5,529 5,529 5,529 5,529 Re- appropriate for new wood siding and trim Total VRD- Managed Facility Projects 395,522 1,233,169 1,609,918 2,843,087 50,000 2,893,087 - 2,893,087 New Assets Golf Course Clubhouse (CCF) 340,000 340,000 5% of total project costs - for work estimated through 1st qtr 2012 Ford Park Fields (CCF) 175,000 175,000 5% of total project costs - for work estimated through 1st qtr 2012 Public Restrooms 670,000 670,000 670,000 (300,000) 370,000 Restrooms at W. Meadow Drive & Vail Road; Pushed from '09 to '11; Removed restrooms at W. Meadow Drive (Main Vail F.S.) per Council Total New Assets: - 670,000 - 670,000 - 670,000 215,000 885,000 12/2U/2011 7 -1 -7 -7- TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE REAL ESTATE TRANSFER TAX FUND Proposed 2010 2011 1st Amended 2nd Amended 3rd Amended Actual Budget Supplemental 2011 Supplemental 2011 Supplemental 2011 Comments Total Expenditures 3,895,253 9,524,594 3,687,946 13,212,540 742,950 13,955,490 (197,862) 13,757,628 Other Financing Sources (Uses) Transfer to Capital Project Fund (32,964) (32,964) (32,964) Transfer to CPF for implementation of energy audit enhancements Transfer from Conference Center Fund 515,000 515,000 Transfer from Conf Center Funds for Golf Clubhouse and Ford Park Field projects Revenue Over (Under) Expenditures 4,492,209 (4,684,315) (3,486,946) (8,171,261) (372,964) (8,544,225) 314,900 (8,229,325) Beginning Fund Balance 13,188,947 12,008,885 5,123,271 17,681,156 17,681,156 17,681,156 Ending Fund Balance $ 17,681,156 $ 7,324,570 $ 9,509,895 $ 9,136,931 $ 9,451,831 12/20/2011 7 -1 -8 -8- Revenue Town of Vail Interagency Charge Insurance Reimbursements & Other Earnings on Investments Equipment Sales and Trade -ins Total Revenue Expenditures Salaries & Benefits Operating, Maintenance & Contracts Capital Outlay Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEAVY EQUIPMENT FUND 2011 2010 2011 1st 2011 3rd Proposed Actual Budget Supplemental Amended Supplemental Amended $ 2,789,389 $ 2,694,081 46,372 - 10,159 10,324 121,734 203,550 2,967,654 2,907,955 941,579 1,175, 656 941,615 3,058,850 971,528 1,186,873 1,035,400 3,193,801 (91,196) (285,846) (140,416) (426,262) 2,343,601 $ 2,252,405 $ 1,779,006 2,064,852 187,553 12/20/2011 7 -1 -9 140,416 140,416 9 - $ 2,694,081 $ 130,000 $ 2,824,081 Chargeback to departments 43,240 43,240 10,324 10,324 203,550 203,550 2,907,955 173,240 3,081,195 971,528 1,186,873 1,175,816 3,334,217 971,528 130,000 1,316,873 Fuel price fluctuations 1,175,816 130,000 3,464,217 43,240 (383,022) 2,252,405 2,252,405 $ 1,826,143 $ 1,869,383 Comments Revenue Town of Vail Interagency Charge - Premiums Employee Contributions Insurer Proceeds Earnings on Investments Total Revenue Expenditures Health Inusrance Premiums Claims Paid Short -term Disability Pay Professional Fees Total Expenditures Revenue Over (Under) Expenditures Beginning Fund Balance Ending Fund Balance TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE HEALTH INSURANCE FUND 2010 2011 3rd 2011 Actual Budget Supplemental Proposed $ 2,540,066 353,022 680,429 5,934 3,579,451 367,094 3,278,644 35,758 20,000 3,701,496 $ 2,565,000 410,000 270,000 10,000 3,255,000 360,000 2,990,000 35,000 20,000 3,405,000 (122,045) (150,000) 1,121,164 954,165 $ 999,119 $ 804,165 12/20/2011 7 -1 -10 $ 2,565,000 410,000 350,000 620,000 Reimbursement for individual claims over $75,000 10,000 350,000 3,605,000 350,000 350,000 - 10 - 360,000 3,340,000 Large medical claims 35,000 20,000 3,755,000 (150,000) 999,119 $ 849,119 Comments Revenue Earnings on Investments Total Revenue TOWN OF VAIL 2011 BUDGET SUMMARY OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE CONFERENCE CENTER FUND 2010 2011 3rd 2011 Actual Budget Supplemental Proposed Comments 40,350 46,800 46,800 40,350 46,800 46,800 Expenditures - General Government $340K to Golf Clubhouse, $175K to Ford Capital Outlay - - 615,000 615,000 Park Fields projects, $100K to Amphitheater project Total Expenditures - - 615,000 615,000 Revenue Over (Under) Expenditures 40,350 46,800 (568,200) Beginning Fund Balance 9,324,654 9,371,154 (6,150) 9,365,004 Adjust to actual Ending Fund Balance $ 9,365,004 $ 9,417,954 $ 8,796,804 12/20/2011 ORDINANCE NO. 26 SERIES OF 2011 AN ORDINANCE MAKING BUDGET ADJUSTMENTS TO THE TOWN OF VAIL GENERAL FUND, CAPITAL PROJECTS FUND, REAL ESTATE TRANSFER TAX FUND, HEAVY EQUIPMENT FUND, HEALTH INSURANCE FUND AND CONFERENCE CENTER FUND OF THE 2011 BUDGET FOR THE TOWN OF VAIL, COLORADO; AND AUTHORIZING THE SAID ADJUSTMENTS AS SET FORTH HEREIN; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, contingencies have arisen during the fiscal year 2011 which could not have been reasonably foreseen or anticipated by the Town Council at the time it enacted Ordinance No. 17, Series of 2010, adopting the 2011 Budget and Financial Plan for the Town of Vail, Colorado; and, WHEREAS, the Town Manager has certified to the Town Council that sufficient funds are available to discharge the appropriations referred to herein, not otherwise reflected in the Budget, in accordance with Section 9.10(a) of the Charter of the Town of Vail; and, WHEREAS, in order to accomplish the foregoing, the Town Council finds that it should make certain budget adjustments as set forth herein. NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO that: 1. Pursuant to Section 9.10(a) of the Charter of the Town of Vail, Colorado, the Town Council hereby makes the following budget adjustments for the 2011 Budget and Financial Plan for the Town of Vail, Colorado, and authorizes the following budget adjustments: General Fund $ 200,262 Capital Projects Fund (228,146) Real Estate Transfer Tax Fund (197,862) Heavy Equipment Fund 130,000 Health Insurance Fund 350,000 Conference Center Fund 615,000 Total $ 869,254 2. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each Ordinance No. 26, Series of 2011 12/20/2011 7 -1 -12 part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. 3. The Town Council hereby finds, determines, and declares that this ordinance is necessary and proper for the health, safety, and welfare of the Town of Vail and the inhabitants thereof. 4. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 5. All bylaws, orders, resolutions, and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 6th day of December, 2011, and a public hearing shall be held on this Ordinance on the 20th day of December, 2011, at the regular meeting of the Town Council of the Town of Vail, Colorado, in the Municipal Building of the town. Andrew P. Daly, Mayor ATTEST: Lorelei Donaldson, Town Clerk READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 20th day of December 2011. Andrew P. Daly, Mayor ATTEST: Lorelei Donaldson, Town Clerk Ordinance No. 26, Series of 2011 12/20/2011 7 -1 -13 TEM OF I �. VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: First reading of Ordinance No. 27, Series of 2011, an ordinance repealing and re- establishing Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A-10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code, and setting forth details in regard thereto. (PEC110058) PRESENTER(S): Bill Gibson, Community Development Department ACTION REQUESTED OF COUNCIL: The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 27, Series of 2011, on first reading. BACKGROUND: On December 12, 2011, the Planning and Environmental Commission forwarded the Vail Town Council a recommendation of approval, with the modifications outlined in Section II of the Staff memorandum to the Commission dated December 12, 2011, for amendments to the employee housing requirements of Special Development District No. 22, Grand Traverse. The purpose of this ordinance is to amend the provisions of the special development district to: allow the employee housing requirements of the special development district to be met within the district, off -site, or a combination thereof; allow employee housing units to be exchanged in accordance with the procedures of Section 12 -13- 5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; and to "clean -up" the unclear, outdated, and inconsistent provisions of the district. STAFF RECOMMENDATION: The Planning and Environmental Commission recommends approval of Ordinance No. 27, Series of 2011, on first reading. ATTACHMENTS: Town Council memorandum Ordinance No. 27, Series of 2011 PEC memorandum 12/12/11 PEC draft results 12/12/11 12/20/2011 TOWN OF VAIL� Memorandum TO: Vail Town Council FROM: Community Development Department DATE: December 20, 2011 SUBJECT: An ordinance repealing and re- establishing Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code, and setting forth details in regard thereto. (PEC110058) Applicant: William and Pamela Bailey, represented by Mauriello Planning Group Planner: Bill Gibson SUMMARY The applicants are requesting a first reading of Ordinance No. 27, Series of 2011, an ordinance repealing and re- establishing Special Development District No. 22, Grand Traverse, to allow for amendments to the district pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code. The purpose of this ordinance is to amend the provisions of the special development district to: • allow the employee housing requirements of the special development district to be met within the district, off -site, or a combination thereof; and, • allow employee housing units to be exchanged in accordance with the procedures of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; and, • "clean -up" the unclear, outdated, and inconsistent provisions of the district. On December 12, 2011, the Planning and Environmental Commission forwarded the Vail Town Council a recommendation of approval, with the modifications outlined in Section II of the Staff memorandum to the Commission dated December 12, 2011. The applicants are not opposed to the modifications recommended by the Commission. The modifications recommended by the Commission have been incorporated into the attached Ordinance No. 27, Series of 2011 (Attachment A). 12/20/2011 8 -1 -1 In addition to the proposed ordinance, the December 12, 2011, Staff memorandum to the Planning and Environmental Commission (Attachment B) and the draft results from the Commission's December 12, 2011, public hearing (Attachment C) have been attached for review. II. DESCRIPTION OF THE REQUEST The applicants, William and Pamela Bailey, own a home with an attached employee housing unit in the Dauphinais - Moseley Subdivision Filing 1 which is zoned Special Development District No. 22, Grand Traverse. The applicants are requesting to discontinue renting their existing employee housing unit, removing the associated employee housing deed restriction from their property by transferring it to a non -deed restricted property elsewhere in Vail, and then integrating the former employee housing unit floor area into their home. The applicants are requesting these actions in conformance with the Town's adopted Employee Housing Unit Deed Restriction Exchange Program regulations. However, Special Development District No. 22, Grand Traverse, requires that "The developer shall build a minimum of six employee dwelling units within the subdivision..." The employee housing unit attached to the Bailey's home is one of the six existing employee housing units built in the subdivision as required by the special development district. The applicants can not remove the employee housing unit or transfer the associated deed restriction from their property, as permitted by the Town's adopted Employee Housing Unit Deed Restriction Exchange Program, without first amending the provisions of the special development district. On December 12, 2012, the Planning and Environmental Commission forwarded the Vail Town Council a recommendation of approval, with the modifications outlined in Section II of the Staff memorandum to the Commission dated December 12, 2011, by a vote of 6 -0 -1 (Pratt opposed). Commissioner Pratt did not support the proposed amendments without requirements that exchange units must have a garage. Commissioner Pratt noted that the special development district currently requires garages with the on -site employee housing units and garages provide an improved quality of life for the tenants of those units. Since the Planning and Environmental Commission's December 12, 2011, public hearing Staff has determined that two previous conditions of approval related to the recording of the major subdivision plats of Special Development District No. 22 (section 5, conditions A and B) have been fulfilled, are no longer relevant, and should be deleted from the provisions of the district. Staff recommends this modification be implemented along with the modifications recommended by the Planning and Environmental Commission. Staff's recommendation of deleting irrelevant conditions A and B have been incorporated into the attached Ordinance No. 27, Series of 2011, along with the modifications recommended by the Commission. Town of Vail Page 2 12/20/2011 8 -1 -2 For clarification, the following is a summary of all the proposed amendments to the provisions of Special Development District No. 22, Grand Traverse, incorporated into the attached Ordinance No. 27, Series of 2011, (text to be added is indicated in bold italics and text to be deleted is indicated in strike through italics): SECTION 1. AMENDMENT PROCEDURES FULFILLED, PLANNING AND ENVIRONMENTAL COMMISSION REPORT The approval procedure prescribed in Section 12- 9A -10, Amendment Procedures, Title 12, Chapter 9, Section 10(B) of the Vail Town Code have been fulfilled, and the Vail Town Council has received the report of the Planning and Environmental Commission recommending approval, of the proposed development plan for Special Development District No. 22. SECTION 2. SPECIAL DEVELOPMENT DISTRICT NO. 22 Special Development District No. 22 (SDD 22) and the development plan therefore, are hereby approved for the development of Lots 1 through 19, Block 2, Lionsridge Subdivision Filing 3 within the Town of Vail consisting of 10.69 acres. SECTION 3. PURPOSE Special Development District No. 22 is established to ensure comprehensive development and use of an area that will be harmonious with the general character of the Town of Vail. The development is regarded as complementary to the Town by the Town Council and meets each of the design standards and criteria as set forth in Section 12 -9A -8 of the Vail Town Code. There are significant aspects of Special Development District No. 22 that are difficult to satisfy through the imposition of the standards of the underlying Two - Family Primary /Secondary Residential Zone District. Special Development District No. 22 allows for greater flexibility in the development of the land than would be possible under the current zoning of the property. The smaller single- family lots provide the opportunity for a common open space for the subdivision as well as the means to preserve the southerly ridge line of the property. Special Development District No. 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties in the community in general. SECTION 4. DEVELOPMENT PLAN A. The development plan for SDD 22 is approved and shall constitute the plan for development within the Special Development District. The development plan is comprised of those plans submitted by Dauphinais- Moseley Construction and consists of the following documents: Town of Vail Page 3 12/20/2011 8 -1 -3 1. Site development plan, Lionsridge Resubdivision of Lots 1 -19, Vail, Colorado, Intermountain Engineering, dated July 7, 1998. 2. Conceptual landscape plan, Intermountain Engineering, dated July 7, 1998. 3. Final Plat of Lionsridge Subdivision Filing No. 5, A Resubdivision of Lots 1 -19, Block 2, Lionsridge Subdivision Filing No. 3, Town of Vail, County of Eagle, State of Colorado, sheets 1 and 2, Intermountain Engineering Limited, dated April 19, 1989, Amended Final Plat of Dauphinais- Moseley Subdivision Filing No. 1, A Resubdivision of Lots 5, 6, 7, 8, 9 7 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated July 21, 1998, and Amended Final Plat: A Resubdivision of Lot 5, Amended Final Plat: Dauphinais- Moseley Subdivision Filing 1: A Resubdivision of Lots 5, 6, 7, 8, 9, and 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated February 3, 2006. 4. Construction, grading and drainage drawings for a resubdivision of Lots 1 -19, Block 2, and Lionsridge Lane, Lionsridge Subdivision Filing No. 3, Town of Vail, Eagle County, Colorado, Intermountain Engineering Limited, sheets 1 -8, dated March 9, 1989. 5. Soils and Foundation Investigation for Lots 1 -24, Lionsridge 5th Filing. 6. Lionsridge Color Palette, Arnold /Gwathmey /Pratt Architects, March 1990. 7. The subdivision plat for Dauphinais- Moseley Subdivision recorded August 23, 1990, July 21, 1998, and February 3, 2006. B. The development standards shall be as follows: 1. Acreage: The total acrctiagc area of this site is 10.69 acres or 465,650 square feet. 2. Permitted Uses: The following uses shall be permitted uscs for in SDD 22 shall bc: a. Single- family residential dwellings. b. Open space. c. Public roads. d. Employee dwelling housing units as dcfincd in Scction 5, further regulated by Subsection 5D of this ordinance and Chapter 12 -13, Employee Housing, Vail Town Code. Town of Vail Page 4 12/20/2011 8 -1 -4 3. Conditional Uses: The following conditional uses shall be permitted in SDD 22, subject to the issuance of a conditional use permit in accordance with Chapter 12 -16, Conditional Uses, Vail Town Code: a. Public utility and public service uses. b. Public buildings, grounds and facilities. c. Public OF and private schools. d. Public park and recreation facilities. 4. Accessory Uses: The following accessory uses shall be permitted in SDD 22: a. Private greenhouses, toolsheds, playhouses, garages or carports, swimming pools, patios, or recreation facilities customarily incidental to single- family residential uses. b. Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of Section 12- 14 -12, Home Occupations, Of-the Vail Town Code. c. Other uses customarily incidental and accessory to permitted or conditional uses, and necessary for the operation thereof. 5. Setbacks: Minimum setbacks shall be as indicated on the approved site development plan by Intermountain Engineering, dated July 7, 1998. A 4- foot roof overhang shall be allowed in the front setback for Lots 15 -19, provided the rear setback is increased by 4 feet. A 4 -foot roof overhang shall be allowed in the rear setback of Lots 20 -24, provided the front setback is increased by 4 feet. Roof overhangs shall be allowed to encroach up to 2 feet into the required side setback of 10 feet for each lot. An unenclosed, unroofed, deck or patio within 5 feet of finished grade may encroach into the rear setback by 5 feet for Lots 1 -14 and Lots 20 -24. No other setback encroachments shall be allowed. 6. Density: Approval of this development plan shall permit a total of 23 single- family dwelling units on the entire property. n minimum of 6 ,:mploycc dwelling units shall be rcquircd. A maximum of 23 employee dwelling housing units shall be permitted on the entire property. 7. Building Height: For a sloping roof, the height of the building shall not exceed 33 feet. The height calculation shall be made by measuring from the existing grade as indicated on the Intermountain Engineering Topographical Survey dated March 13, 1990 or finished grade. Height shall be calculated per Section 12 2 2 of the Vail Town Code pursuant to Section 12 -2 -2, Definitions, Vail Town Code. Town of Vail Page 5 12/20/2011 8 -1 -5 8. Site Coverage: Not more than 25 percent of the total site area on each lot shall be covered by buildings. "Site coverage" shall mean the ratio of the total building area on a site to the total area of a site, expresscd as a percentage. For the purposc of calculating site coverage, "building area" shall mean the total horizontal area of any building as measured from the exterior face of perimeter building walls or supporting columns above or roofed walkways. In addition to the above, building ar a shall also include any portion of roof overhang, eave, or covered stair, covered deck, covered porch, covered terrace or covered patio that extends more than four fcct from the cxtcrior facc of perimctcr building walls or supporting columns be calculated pursuant to Section 12 -2 -2, Definitions, Vail Town Code. 9. Parking: Parking shall be as required in Title 12, Chapter 10 of the provided pursuant to Chapter 12 -10, Off Street Parking and Loading, Vail Town Code. Each employee dwelling housing unit within SDD 22 shall be required to have at least one enclosed garage parking space. 10. Design Guidelines: The development of each lot shall be guided by the architectural and landscape design guidelines as approved as part of the Special Development District No. 22. The guidelines are as follows: a. Architectural. The architectural design of the buildings upon the site shall be such that buildings relate harmoniously to each other. This is not to imply that each building must look exactly similar to those around it, but that compatibility be achieved through the use of scale, materials and colors, and building shape and form. The overriding concern is that, upon completion, the Special Development District, because of the clustered nature of the small single- family lots situated around common open space, should appear to be an integrated development possessing a common architectural quality, character, and appearance. To this end the following general design criteria shall be followed by the developer and individual lot owners: b. Color. A palette of colors shall be as set forth in the Lionsridge Color Palette from Arnold /Gwathmey /Pratt dated March 1990. Colors are indicated for the use on different types of building materials and elements such as stucco colors, siding colors, metal flashing, windows, accent colors, etc. The palette of colors indicates a range of acceptable colors in order to encourage similarity on one hand, but also diversity within the acceptable range. Town of Vail Page 6 12/20/2011 8 -1 -6 c. Building Standards and Materials. The following building standards and materials shall be adhered to: (1) Roof. The roof pitch shall be a minimum 8/12 and a maximum of 12/12. A gable, clipped gable or hipped roof shall be mandatory. Dormers shall be allowed and reviewed by the Design Review Board. The roofing material shall be synthetic wood shingles with staggered butts. (2) Chimneys. The chimneys shall be stucco with chimney caps of weathered copper. (3) Flues. All flues shall be galvanized or painted sheet metal, painted to match the roof. (4) Main Fascia. The main fascia shall be a solid color stain, with brown, taupe, or gray. (5) Secondary Fascia and Metal Railings above the First Floor. The secondary fascia and metal railings above the first floor shall be a muted accent trim color to be reviewed lay-the-ORB. (6) Walls. Walls shall be of stucco and horizontal or vertical wood siding. Stucco colors shall be gray, beige or off - white. Wood siding colors shall be gray, brown or taupe. (7) Stone. Residences will shall have a minimum of a two foot high stone wainscot in rainbow mix with a sandstone cap around the perimeter of the structure, except under decks where substantially concealed by landscaping. (8) Windows. Windows located within stucco areas shall have a minimum of two inches of relief from the outside wall plane and have a sandstone sill. (9) Outdoor Lighting. Outdoor lighting shall be indirect with a concealed source except for an entry chandelier, two carriage lights and one pilaster light which may be exposed globes with a fixture of black or weathered copper look metal. The maximum number of outdoor lights permitted on each lot shall be 15, as calculated pursuant to Section 14- 10-7, Outdoor Lighting, Vail Town Code, regardless of lot size. Outdoor lights as which conform with Ordinancc #22, Scrics of 1997, shall bc cxcmpt. All cxtcrior lighting shall bc reviewed by the DRB. Town of Vail Page 7 12/20/2011 8 -1 -7 (10) Garages. No garage doors shall directly face the street, except on Lot 24 and Lot 14. (11) A residential address /nameplate, if desired by the owner, shall be located on the side of the garage facing the access point to the lot. (12) When the individual landscape plans are designed for individual lots, special care shall be taken in the design of side yard landscaping in order to provide adequate screening between structures. 11. Recreational Amenities Tax: The recreation amenities tax shall be assessed at the rate for a Single- Family Residential Zone District. SECTION 5. CONDITIONS OF APPROVAL Traversc, shall not be effective until the major subdivision is recorded by the Lots 2, 5, 7, 9 or 10. A. The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development District No. 22 shall provide a minimum of 6 deed - restricted employee housing on-site units. These required employee housing units may be located within SDD 22, off -site, or a combination thereof. Any required employee housing units located within SDD 22 shall be subject to the restrictions outlined in Subsection 5D of this ordinance. Any required employee housing units located off -site shall be subject to the provisions of Chapter 12 -13, Employee Housing, Vail Town Code, as may be amended. The required employee housing units, both on -site and off -site, shall be eligible for exchange in accordance with the procedures outlined in Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code, as may be amended. B.19, The following restrictions shall apply to all employee dwelling housing units, required and non - required, within SDD No, 22: 1. The developer shall build a minimum of six employee dwelling units within the subdivision. Each employee dwelling housing unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and is allowcd to shall have a kitchen or kitchenette. The square Town of Vail Page 8 12/20/2011 8 -1 -8 footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (i.e., not including furring, sheetrock, plaster, and other similar wall finishes). The number of employee units shall not be counted toward allowable density for Special Development District No. 22. The developer may choosc to transfer up to 300 sq. ft. from the primary unit to the employee unit. The developer may provide up to 23 employee dwelling units including the 6 required dwelling units, if so 2. The employee dwelling housing units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee dwelling housing unit shall be allowed per lot with a maximum of 23 employee housing units allowed. An Each employee dwelling housing unit shall be incorporated into the structure of the primary residence single- family dwelling and shall not be allowed to be separated from the primary unit single- family dwelling. Each employee dwelling housing unit shall have at least one enclosed garage parking space. This parking space shall not be detached from the single - family garage or structure. - - _ - - _ _ - _ _ clude a are constructed and available for rental. 3. The employee housing unit shall be leased to full -time employees who work in Eagle County. An EHU The employee housing unit shall not be leased for a period less than thirty consecutive days. For the purposes of this section, a full -time employee is one who works an average of thirty hours each week. 4. An EHU The employee housing unit may not be sold, transferred, or conveyed separately from any the single- family dwelling it Fney-be is a part of. 5. The €#U employee housing unit shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Municipal Code of the Town of Vail Town Code. 6. No later than February 1 of each year, the owner of each employee housing unit within SDD 22 the town which is constructed following the .;ffcctivc datc of this chaptcr shall submit _ _ _ - _ _ - _ _ c- _ -- to be obtained from the Community Development Department, to the the Town of Vail Housing Authority setting forth a sworn affidavit on a form provided by the Town of Vail to the Community Development Department containing the following information: evidence establishing that the employee housing unit has been rented throughout the year by an employee, the rental rate, the employer, and evidence to Town of Vail Page 9 12/20/2011 8 -1 -9 demonstrate that each at least one tenant who resides within the employee housing unit is a full -time employee in Eagle County. 7. The owner of each EHU shall rent the unit at a monthly rental rate consistent with or lower than thosc market rates prevalent for similar properties in the Town of Vail. 8. The Town of Vail Housing Authority will dctcrminc the market ratc bascd on the study of other units of comparable size, location, quality and amenities throughout the Town. The market rate shall be based on an avcrage of a minimum of five rcntal ratcs of comparable units. If the unit to be in noncompliance. In addition to any other penalties and restrictions publication as determined by the Housing Authority. 7. All employee housing units within SDD 22 shall be eligible for exchange in accordance with the procedures outlined in Section 12- 13-5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. 8. The provisions of these rcstrictivc covenants restrictions may be enforced by the Owner and the Town. The provisions of these restrictions may also be enforced by the Town of Vail in accordance with Chapter 12 -3, Administration and Enforcement, Vail Town Code. 9. 40- The conditions, restrictions, stipulations, and agreements contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. C.19, The architectural and landscape design guidelines shall be incorporated into the subdivision covenants before the final plat is recorded at the Eagle County Clerk and Recorder's Office. The Town Of Vail shall be party to these agreements. SECTION 6. AMENDMENTS Amendments to Special Development District No. 22 shall follow the procedures contained in Section 18.40.100 of the Vail Municipal Code prescribed in Section 12- 9A -10, Amendment Procedures, Vail Town Code. SECTION 7. EXPIRATION The applicant must begin construction of the Special Development District within 3 years from the time of its final approval, and continue diligently toward completion of the project. If the applicant does not begin and diligently work Town of Vail Page 10 12/20/2011 8 - 1 - 10 toward the completion of the Special Development District or any stage of the Special Development District within the time limits imposed by the preceding subsection, the Town of Vail Planning and Environmental Commission shall review the Special Development District. They shall recommend to the Vail Town Council that either the approval of the Special Development District be extended, that the approval of the Special Development District be revoked, or that the Special Development District be amended. III. ACTION REQUESTED OF THE COUNCIL The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 27, Series of 2011, on first reading. IV. RECOMMENDATION On December 12, 2012, the Planning and Environmental Commission forwarded the Vail Town Council a recommendation of approval, with the modifications outlined in Section 11 of the Staff memorandum to the Commission dated December 12, 2011. The modifications recommended by the Commission have been incorporated into the attached Ordinance No. 27, Series of 2011. Should the Vail Town Council choose to approve this ordinance on first reading; the Planning and Environmental Commission recommends the Council pass the following motion: "The Vail Town Council approves the first reading of Ordinance No. 27, Series of 2011, an ordinance repealing and re- establishing Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code, and setting forth details in regard thereto." Should the Vail Town Council choose to approve Ordinance No. 27, Series of 2011, the Planning and Environmental Commission recommends the Vail Town Council makes the following findings: "Based upon the review of the criteria outlined in Section VII of Staff's December 12, 2011, memorandum to the Planning and Environmental Commission, and the evidence and testimony presented, the Vail Town Council finds: 1. The proposal to amend Special Development District No. 22, Grand Traverse, complies with the nine design criteria outlined in Section 12 -9A -8 of the Vail Town Code; and, Town of Vail Page 11 12/20/2011 8 - 1 - 11 2. The applicant has demonstrated to the satisfaction of the Council that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided; and, 3. The request is consistent with the development goals and objectives of the Town of Vail Comprehensive Master Plan." VI. ATTACHMENTS A. Ordinance No. 27, Series of 2011 B. Planning and Environmental Commission Memorandum Dated December 12, 2011 C. Planning and Environmental Commission Draft Meeting Results December 12, 2011 Town of Vail Page 12 12/20/2011 8 -1 -12 ORDINANCE NO. 27 Series of 2011 AN ORDINANCE REPEALING AND RE- ESTABLISHING SPECIAL DEVELOPMENT DISTRICT NO. 22, GRAND TRAVERSE, PURSUANT TO SECTION 12- 9A -10, AMENDMENT PROCEDURES, VAIL TOWN CODE, TO ALLOW THE EMPLOYEE HOUSING REQUIREMENTS OF THE SPECIAL DEVELOPMENT DISTRICT TO BE MET OFF -SITE THROUGH THE PROVISIONS OF SECTION 12 -13 -5, EMPLOYEE HOUSING UNIT DEED RESTRICTION EXCHANGE PROGRAM, VAIL TOWN CODE, AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town of Vail (the "Town "), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the "Charter"); WHEREAS, the members of the Vail Town Council of the Town (the "Council ") have been duly elected and qualified; WHEREAS, the Planning and Environmental Commission (the "PEC ") of the Town of Vail has held public hearings on the proposed amendments in accordance with the provisions of the Vail Town Code; WHEREAS, the PEC recommended approval of these amendments at its December 12, 2011, public hearing, and has submitted its recommendation to the Vail Town Council; WHEREAS, Ordinance No. 23, Series of 1988, established Special Development District No. 22 (the "District "), for the following purpose (in part): "...there are significant aspects of Special Development 22 which are difficult to satisfy through the imposition of the standards of the Primary/Secondary zone district. SDD 22 allows for greater flexibility in the development of the land than would be possible under the current zoning of the property. The smaller single family lots provide the opportunity for a common open space for the subdivision as well as to preserve the southerly ridge line of the property. SDD 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties and the community in general. "; WHEREAS, Ordinance No. 13, Series of 1990, amended the District concerning lot size and corresponding gross residential floor area (GRFA), curb cuts, employee dwelling units, and architectural guidelines. Section 5 of that ordinance included the following condition of approval: "G. The development of Special Development District No 22 will have impacts on Ordinance No. 27, Series 2011 Page 1 12/20/2011 8 -2 -1 the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development No. 22 shall provide employee housing on site. The following restrictions shall apply to all employee housing units within SDD No. 22: The developer shall build a minimum of six employee dwelling units within the subdivision..."; WHEREAS, the provisions of the District were subsequently amended as follows: • Ordinance No. 9, Series of 1998, concerning lot sizes, number of lots and corresponding development standards, and architecture guidelines. • Ordinance No. 10, Series of 1991, concerning lot size and corresponding gross residential floor area (GRFA) and employee dwelling units and architectural guidelines. • Ordinance No. 32, Series of 1991, providing typographical and wording corrections. • Ordinance No. 25, Series of 2005, concerning the elimination of gross residential floor area (GRFA) limitations within the district and the number of lots. • January 21, 2008, administratively approved minor amendment modifying the allowable roofing types (i.e. prohibiting wood shakes); WHEREAS, at the time of this ordinance, the six (6) required on -site employee housing units of the District have been constructed at the following addresses: Lot 1, 1402 Moraine Drive; Lot 5, 1410 Moraine Drive; Lot 10, 1420 Moraine Drive; Lot 13, 1426 Moraine Drive; Lot 18, 1700 Lions Ridge Loop; and Lot 24, 1403 Moraine Drive; WHEREAS Ordinance No. 31, Series of 2008, established an employee housing deed - restriction exchange program for the following purpose: The purpose of this Section is to provide occupied livable, affordable employee housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows for the release of a deed restriction from an existing employee housing unit in exchange for the conveyance of a free market dwelling unit to the Town of Vail to be deed restricted. "; WHEREAS Ordinance No. 10, Series of 2011, amended the employee housing deed - restriction exchange program for the following purpose: The purpose of this Section is to provide occupied livable, affordable employee Ordinance No. 27, Series 2011 Page 2 12/20/2011 8 -2 -2 housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows the Town Council to release a deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on another dwelling unit and/ or a fee -in -lieu payment made to the Town of Vail. "; WHEREAS, the purpose of this ordinance is to amend the District to allow the employee housing requirements of the district to be met within the district, off -site, or a combination thereof; WHEREAS, the purpose of this ordinance is to amend the District to allow employee housing units to be exchanged in accordance with the procedures outlined in Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; WHERAS, the purpose of this ordinance is to "clean -up" the unclear, outdated, and inconsistent provisions of the District; WHEREAS, based upon the review of the evidence and testimony presented, the Vail Town Council finds that the proposed amend to the District, complies with the nine design criteria outlined in Section 12 -9A -8 of the Vail Town Code; WHEREAS, based upon the review of the evidence and testimony presented, the Vail Town Council finds that the applicant has demonstrated to the satisfaction of the Council that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided; and, WHEREAS, based upon the review of the evidence and testimony presented, the Vail Town Council finds that the request is consistent with the development goals and objectives of the Town of Vail Comprehensive Master Plan. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Special Development District No. 22, Grand Traverse, is hereby repealed and re- established to read as follows: SECTION 1. AMENDMENT PROCEDURES FULFILLED, PLANNING AND ENVIRONMENTAL COMMISSION REPORT The approval procedure prescribed in Section 12- 9A -10, Amendment Procedures, Vail Town Code have been fulfilled, and the Vail Town Council has received the report of the Planning and Environmental Commission recommending approval, of the proposed development plan for Special Development District No. 22. Ordinance No. 27, Series 2011 Page 3 12/20/2011 8 -2 -3 SECTION 2. SPECIAL DEVELOPMENT DISTRICT NO. 22 Special Development District No. 22 (SDD 22) and the development plan therefore, are hereby approved for the development of Lots 1 through 19, Block 2, Lionsridge Subdivision Filing 3 within the Town of Vail consisting of 10.69 acres. SECTION 3. PURPOSE Special Development District No. 22 is established to ensure comprehensive development and use of an area that will be harmonious with the general character of the Town of Vail. The development is regarded as complementary to the Town by the Town Council and meets each of the design standards and criteria as set forth in Section 12 -9A -8 of the Vail Town Code. There are significant aspects of Special Development District No. 22 that are difficult to satisfy through the imposition of the standards of the underlying Two - Family Primary/Secondary Residential District. Special Development District No. 22 allows for greater flexibility in the development of the land than would be possible under the current zoning of the property. The smaller single - family lots provide the opportunity for a common open space for the subdivision as well as the means to preserve the southerly ridge line of the property. Special Development District No. 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties in the community in general. SECTION 4. DEVELOPMENT PLAN A. The development plan for SDD 22 is approved and shall constitute the plan for development within the Special Development District. The development plan is comprised of those plans submitted by Dauphinais - Moseley Construction and consists of the following documents: 1. Site development plan, Lionsridge Resubdivision of Lots 1 -19, Vail, Colorado, Intermountain Engineering, dated July 7, 1998. 2. Conceptual landscape plan, Intermountain Engineering, dated July 7, 1998. 3. Final Plat of Lionsridge Subdivision Filing No. 5, A Resubdivision of Lots 1 -19, Block 2, Lionsridge Subdivision Filing No. 3, Town of Vail, County of Eagle, State of Colorado, sheets 1 and 2, Intermountain Engineering Limited, dated April 19, 1989, Amended Final Plat of Dauphinais - Moseley Subdivision Filing No. 1, A Resubdivision of Lots 5, 6, 7, 8, 9 7 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated July 21, 1998, and Amended Final Plat: Ordinance No. 27, Series 2011 Page 4 12/20/2011 8 -2 -4 A Resubdivision of Lot 5, Amended Final Plat: Dauphinais - Moseley Subdivision Filing 1: A Resubdivision of Lots 5, 6, 7, 8, 9, and 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated February 3, 2006. 4. Construction, grading and drainage drawings for a resubdivision of Lots 1 -19, Block 2, and Lionsridge Lane, Lionsridge Subdivision Filing No. 3, Town of Vail, Eagle County, Colorado, Intermountain Engineering Limited, sheets 1 -8, dated March 9, 1989. 5. Soils and Foundation Investigation for Lots 1 -24, Lionsridge 5th Filing. 6. Lionsridge Color Palette, Arnold /Gwathmey /Pratt Architects, March 1990. 7. The subdivision plat for Dauphinais - Moseley Subdivision recorded August 23, 1990, July 21, 1998, and February 3, 2006. B. The development standards shall be as follows: 1. Acreage: The total area of this site is 10.69 acres or 465,650 square feet. 2. Permitted Uses: The following uses shall be permitted in SDD 22: a. Single- family dwellings. b. Open space. c. Public roads. d. Employee housing units as further regulated by Subsection 5D of this ordinance and Chapter 12 -13, Employee Housing, Vail Town Code. 3. Conditional Uses: The following conditional uses shall be permitted in SDD 22, subject to the issuance of a conditional use permit in accordance with Chapter 12 -16, Conditional Uses, Vail Town Code: a. Public utility and public service uses. b. Public buildings, grounds and facilities. c. Public and private schools. d. Public park and recreation facilities. 4. Accessory Uses: The following accessory uses shall be permitted in SDD 22: a. Private greenhouses, toolsheds, playhouses, garages or carports, swimming pools, patios, or recreation facilities customarily Ordinance No. 27, Series 2011 Page 5 12/20/2011 8 -2 -5 incidental to single - family residential uses. b. Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of Section 12- 14 -12, Home Occupations, Vail Town Code. c. Other uses customarily incidental and accessory to permitted or conditional uses, and necessary for the operation thereof. 5. Setbacks: Minimum setbacks shall be as indicated on the approved site development plan by Intermountain Engineering, dated July 7, 1998. A 4- foot roof overhang shall be allowed in the front setback for Lots 15 -19, provided the rear setback is increased by 4 feet. A 4 -foot roof overhang shall be allowed in the rear setback of Lots 20 -24, provided the front setback is increased by 4 feet. Roof overhangs shall be allowed to encroach up to 2 feet into the required side setback of 10 feet for each lot. An unenclosed, unroofed, deck or patio within 5 feet of finished grade may encroach into the rear setback by 5 feet for Lots 1 -14 and Lots 20 -24. No other setback encroachments shall be allowed. 6. Density: Approval of this development plan shall permit a total of 23 single - family dwelling units on the entire property. A maximum of 23 employee housing units shall be permitted on the entire property. 7. Building Height: For a sloping roof, the height of the building shall not exceed 33 feet. The height calculation shall be made by measuring from the existing grade as indicated on the Intermountain Engineering Topographical Survey dated March 13, 1990 or finished grade. Height shall be calculated pursuant to Section 12 -2 -2, Definitions, Vail Town Code. 8. Site Coverage: Not more than 25 percent of the total site area on each lot shall be covered by buildings. "Site coverage" shall be calculated pursuant to Section 12 -2 -2, Definitions, Vail Town Code. 9. Parking: Parking shall be provided pursuant to Chapter 12 -10, Off Street Parking and Loading, Vail Town Code. Each employee housing unit within SDD 22 shall have at least one enclosed garage parking space. 10. Design Guidelines: The development of each lot shall be guided by the architectural and landscape design guidelines as approved as part of the Special Development District No. 22. The guidelines are as follows: a. Architectural. The architectural design of the buildings upon the site shall be such that buildings relate harmoniously to each other. This is not to imply that each building must look exactly similar to Ordinance No. 27, Series 2011 Page 6 12/20/2011 8 -2 -6 those around it, but that compatibility be achieved through the use of scale, materials and colors, and building shape and form. The overriding concern is that, upon completion, the Special Development District, because of the clustered nature of the small single - family lots situated around common open space, should appear to be an integrated development possessing a common architectural quality, character, and appearance. To this end the following general design criteria shall be followed by the developer and individual lot owners: b. Color. A palette of colors shall be as set forth in the Lionsridge Color Palette from Arnold /Gwathmey /Pratt dated March 1990. Colors are indicated for the use on different types of building materials and elements such as stucco colors, siding colors, metal flashing, windows, accent colors, etc. The palette of colors indicates a range of acceptable colors in order to encourage similarity on one hand, but also diversity within the acceptable range. c. Building Standards and Materials. The following building standards and materials shall be adhered to: (1) Roof. The roof pitch shall be a minimum 8/12 and a maximum of 12/12. A gable, clipped gable or hipped roof shall be mandatory. Dormers shall be allowed. The roofing material shall be synthetic wood shingles with staggered butts. (2) Chimneys. The chimneys shall be stucco with chimney caps of weathered copper. (3) Flues. All flues shall be galvanized or painted sheet metal, painted to match the roof. (4) Main Fascia. The main fascia shall be a solid color stain, with brown, taupe, or gray. (5) Secondary Fascia and Metal Railings above the First Floor. The secondary fascia and metal railings above the first floor shall be a muted accent trim color. (6) Walls. Walls shall be of stucco and horizontal or vertical wood siding. Stucco colors shall be gray, beige or off - white. Wood siding colors shall be gray, brown or taupe. (7) Stone. Residences shall have a minimum of a two foot Ordinance No. 27, Series 2011 Page 7 12/20/2011 8 -2 -7 high stone wainscot in rainbow mix with a sandstone cap around the perimeter of the structure, except under decks where substantially concealed by landscaping. (8) Windows. Windows located within stucco areas shall have a minimum of two inches of relief from the outside wall plane and have a sandstone sill. (9) Outdoor Lighting. Outdoor lighting shall be indirect with a concealed source except for an entry chandelier, two carriage lights and one pilaster light which may be exposed globes with a fixture of black or weathered copper look metal. The maximum number of outdoor lights permitted on each lot shall be 15, as calculated pursuant to Section 14- 10-7, Outdoor Lighting, Vail Town Code, regardless of lot size. (10) Garages. No garage doors shall directly face the street, except on Lot 24 and Lot 14. (11) A residential address /nameplate, if desired by the owner, shall be located on the side of the garage facing the access point to the lot. (12) When the individual landscape plans are designed for individual lots, special care shall be taken in the design of side yard landscaping in order to provide adequate screening between structures. 11. Recreational Amenities Tax: The recreation amenities tax shall be assessed at the rate for a Single - Family Residential District. SECTION 5. CONDITIONS OF APPROVAL A. The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development District No. 22 shall provide a minimum of 6 deed - restricted employee housing units. These required employee housing units may be located within SDD 22, off -site, or a combination thereof. Any required employee housing units located within SDD 22 shall be subject to the restrictions outlined in Subsection 5D of this ordinance. Any required employee housing units located off -site shall be subject to the provisions of Chapter 12 -13, Employee Housing, Vail Town Code, as may be amended. The required employee housing units, both on -site and off -site, shall be eligible for exchange in accordance with the procedures outlined in Section 12 -13 -5, Employee Housing Unit Deed Restriction Ordinance No. 27, Series 2011 Page 8 12/20/2011 8 -2 -8 Exchange Program, Vail Town Code, as may be amended. B. The following restrictions shall apply to all employee housing units, required and non - required, within SDD 22: 1. Each employee housing unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and shall have a kitchen or kitchenette. The square footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (i.e., not including furring, sheetrock, plaster, and other similar wall finishes). 2. The employee housing units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee housing unit shall be allowed per lot with a maximum of 23 employee housing units allowed. Each employee housing unit shall be incorporated into the structure of the single - family dwelling and shall not be allowed to be separated from the single - family dwelling. Each employee housing unit shall have at least one enclosed garage parking space. This parking space shall not be detached from the single - family garage or structure 3. The employee housing unit shall be leased to full -time employees who work in Eagle County. The employee housing unit shall not be leased for a period less than thirty consecutive days. For the purposes of this section, a full -time employee is one who works an average of thirty hours each week. 4. The employee housing unit may not be sold, transferred, or conveyed separately from the single - family dwelling it is a part of. 5. The employee housing unit shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Vail Town Code. 6. No later than February 1 of each year, the owner of each employee housing unit within SDD 22 shall submit a sworn affidavit on a form provided by the Town of Vail to the Community Development Department containing the following information: evidence establishing that the employee housing unit has been rented throughout the year by an employee, the rental rate, the employer, and evidence to demonstrate that at least one tenant who resides within the employee housing unit is a full - time employee in Eagle County. 7. All employee housing units within SDD 22 shall be eligible for exchange in accordance with the procedures outlined in Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. Ordinance No. 27, Series 2011 Page 9 12/20/2011 8 -2 -9 8. The provisions of these restrictions may be enforced by the Owner. The provisions of these restrictions may also be enforced by the Town of Vail in accordance with Chapter 12 -3, Administration and Enforcement, Vail Town Code. 9. The conditions, restrictions, stipulations, and agreements contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. C. The architectural and landscape design guidelines shall be incorporated into the subdivision covenants before the final plat is recorded at the Eagle County Clerk and Recorder's Office. The Town Of Vail shall be party to these agreements. SECTION 6. AMENDMENTS Amendments to Special Development District No. 22 shall follow the procedures prescribed in Section 12- 9A -10, Amendment Procedures, Vail Town Code. SECTION 7. EXPIRATION The applicant must begin construction of the Special Development District within 3 years from the time of its final approval, and continue diligently toward completion of the project. If the applicant does not begin and diligently work toward the completion of the Special Development District or any stage of the Special Development District within the time limits imposed by the preceding subsection, the Town of Vail Planning and Environmental Commission shall review the Special Development District. They shall recommend to the Vail Town Council that either the approval of the Special Development District be extended, that the approval of the Special Development District be revoked, or that the Special Development District be amended. SECTION 8. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. SECTION 9. The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. SECTION 10. The amendment of any provision of the Town Code as provided in this Ordinance No. 27, Series 2011 Page 10 12/20/2011 8 -2- 10 ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. SECTION 11. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 20 day of December, 2011, and a public hearing for second reading of this Ordinance set for the 3 day of January, 2012, at 6:00 P.M. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Andrew P. Daly, Mayor ATTEST: Lorelei Donaldson, Town Clerk Ordinance No. 27, Series 2011 Page 11 12/20/2011 8 -2- 11 1° TOWN OF VAl1' Memorandum TO: Planning and Environmental Commission FROM: Community Development Department DATE: December 12, 2011 SUBJECT: A request for a final recommendation to the Vail Town Council for a major amendment to Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off - site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; located at 1402 through 1428 Moraine Drive and 1450, 1500, 1550, 1600, 1650, 1700, 1750, 1800, and 1850 Lions Ridge Loop/ Lots 1 through 24, Dauphinais - Moseley Subdivision Filing 1, and setting forth details in regard thereto. (PEC110058) Applicant: William and Pamela Bailey, represented by Mauriello Planning Group Planner: Bill Gibson SUMMARY The applicants, William and Pamela Bailey, own a home with an attached employee housing unit in the Dauphinais - Moseley Subdivision which is zoned Special Development District No. 22, Grand Traverse. The applicants are requesting to discontinue renting the existing employee housing unit, removing the associated employee housing deed restriction from their property by transferring it to an existing, non -deed restricted property elsewhere in Vail, and then integrating the former employee housing unit floor area into their home. The applicants are requesting these actions in compliance with the Town's adopted Employee Housing Unit Deed Restriction Exchange Program regulations. However, Special Development District No. 22, Grand Traverse, require that "The developer shall build a minimum of six employee dwelling units within the subdivision " The employee housing unit attached to the Bailey's home is one of the six existing employee housing units built in the subdivision as required by the special development district (SDD). The applicants can not remove the employee housing unit or transfer the associated deed restriction from their property, as permitted by the Town's adopted Employee Housing Unit Deed Restriction Exchange Program, without first amending the SDD requirement that the six employee housing units be built within the Dauphinais- Moseley Subdivision. Town of Vail 12/20/2011 8 -3 -1 At this time, the six required employee housing units have been built within the special development district at: • Lot 1, 1402 Moraine Drive • Lot 5, 1410 Moraine Drive • Lot 10, 1420 Moraine Drive • Lot 13, 1426 Moraine Drive • Lot 18, 1700 Lions Ridge Loop • Lot 24, 1403 Moraine Drive The applicants are requesting the review of a major amendment to Special Development District No. 22, Grand Traverse, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. Based upon Staff's review of the criteria outlined in Section VII of this memorandum and the evidence and testimony presented, the Community Development Department recommends the Planning and Environmental Commission forwards a recommendation of approval, with modifications, to the Vail Town Council for this application, subject to the findings noted in Section VIII of this memorandum. Attached for review is a vicinity map (Attachment A), the applicant's request (Attachment B), and Ordinance No. 25, Series of 2005 (Attachment C) which is the most recent ordinance version of the special development district. II. DESCRIPTION OF REQUEST The applicants, William and Pamela Bailey, are requesting to amend Special Development District No. 22, Grand Traverse, Section 5, Conditions of Approval, Sub- section C, as follows (Attachment B) (text to be added is indicated in bold italics and text to be removed is indicated in strikc through italics): "The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development District No. 22 shall provide employee housing en -site. The following restrictions shall apply to all employee dwelling units within SDD No. 22: 1. The developer shall build a minimum of six employee dwelling units within the subdivision. Each employee dwelling unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and is allowed to have a kitchen. The square footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (i.e., not including furring, Sheetrock, plaster, and other similar wall finishes). The number of employee Town of Vail Page 2 12/20/2011 8 -3 -2 units shall not be counted toward allowable density for Special Development District No. 22. The developer may choose to transfer up to 300 sq. ft. from the primary unit to the employee unit. The developer may provide up to 23 employee dwelling units including the 6 required dwelling units if so desired. 2. The employee dwelling units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee dwelling unit shall be allowed per lot with a maximum of 23 units allowed. An employee dwelling shall be incorporated into the structure of the primary residence and shall not be allowed to be separated from the primary unit. Each employee dwelling unit shall have at least one enclosed garage parking space. This parking space shall not be detached from the single - family garage or structure. Each phase of construction shall include a minimum of one employee dwelling unit until six employee dwelling units are constructed and available for rental. 3. The Employee Housing Unit shall be leased to tenants who are full -time employees who work in Eagle County. An EHU shall not be leased for a period less than thirty consecutive days. For the purposes of this section, a full -time employee is one who works an average of thirty hours each week. 4. An EHU may not be sold, transferred, or conveyed separately from any single - family dwelling it may be a part of. 5. The EHU shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Municipal Code of the Town of Vail. 6. No later than February 1 of each year, the owner of each employee housing unit within the town which is constructed following the effective date of this chapter shall submit two copies of a report on a form to be obtained from the Community Development Department, to the Community Development Department of the Town of Vail and Chairman of the Town of Vail Housing Authority setting forth evidence establishing that the employee housing unit has been rented throughout the year, the rental rate, the employer, and that each tenant who resides within the employee housing unit is a full -time employee in Eagle County. 7. The owner of each EHU shall rent the unit at a monthly rental rate consistent with or lower than those market rates prevalent for similar properties in the Town of Vail. 8. The Town of Vail Housing Authority will determine the market rate based on the study of other units of comparable size, location, quality and amenities throughout the Town. The market rate shall be based on an average of a minimum of five rental rates of comparable units. If the unit is not rented and is Town of Vail Page 3 12/20/2011 8 -3 -3 not available at the market rate it shall be determined to be in noncompliance. In addition to any other penalties and restrictions provided herein, a unit found to be in noncompliance shall be subject to publication as determined by the Housing Authority. 9. The provisions of these restrictive covenants may be enforced by the Owner and the Town. 10. The conditions, restrictions, stipulations, and agreements contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. 11. Existing deed - restricted employee housing units in Special Development District No. 22 may be exchanged Employee Housing Deed Restriction Exchange Program, as adopted by Ordinance No. 10, Series of 2011, and as codified in 12 -13 -5: Employee Housing Unit Deed Restriction Exchange Program." Should the Planning and Environmental Commission choose to forward a recommendation of approval to the Vail Town Council for this application, the Community Development Department recommends modifications to the proposed amendments. These modifications are intended to clarify the intent of the applicants' request. The proposed modifications are also intended to "clean -up" the existing unclear, outdated, and inconsistent provisions of the SDD language (text to be added is indicated in bold italics and text to be removed is indicated in strikc through italics): SECTION 1. AMENDMENT PROCEDURES FULFILLED, PLANNING AND ENVIRONMENTAL COMMISSION REPORT The approval procedure prescribed in Section 12- 9A -10, Amendment Procedures, Titic 12, Chaptcr 9, Scction 10(B) of the Vail Town Code have been fulfilled, and the Vail Town Council has received the report of the Planning and Environmental Commission recommending approval, of the proposed development plan for Special Development District No. 22. SECTION 2. SPECIAL DEVELOPMENT DISTRICT NO. 22 Special Development District No. 22 (SDD 22) and the development plan therefore, are hereby approved for the development of Lots 1 through 19, Block 2, Lionsridge Subdivision Filing 3 within the Town of Vail consisting of 10.69 acres. SECTION 3. PURPOSE Special Development District No. 22 is established to ensure comprehensive development and use of an area that will be harmonious with the general character of the Town of Vail. The development is regarded as complementary Town of Vail Page 4 12/20/2011 8 -3 -4 to the Town by the Town Council and meets each of the design standards and criteria as set forth in Section 12 -9A -8 of the Vail Town Code. There are significant aspects of Special Development District No. 22 that are difficult to satisfy through the imposition of the standards of the underlying Two - Family Primary /Secondary Residential Zolq-e District. Special Development District No. 22 allows for greater flexibility in the development of the land than would be possible under the current zoning of the property. The smaller single - family lots provide the opportunity for a common open space for the subdivision as well as the means to preserve the southerly ridge line of the property. Special Development District No. 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties in the community in general. SECTION 4. DEVELOPMENT PLAN A. The development plan for SDD 22 is approved and shall constitute the plan for development within the Special Development District. The development plan is comprised of those plans submitted by Dauphinais- Moseley Construction and consists of the following documents: 1. Site development plan, Lionsridge Resubdivision of Lots 1 -19, Vail, Colorado, Intermountain Engineering, dated July 7, 1998. 2. Conceptual landscape plan, Intermountain Engineering, dated July 7, 1998. 3. Final Plat of Lionsridge Subdivision Filing No. 5, A Resubdivision of Lots 1 -19, Block 2, Lionsridge Subdivision Filing No. 3, Town of Vail, County of Eagle, State of Colorado, sheets 1 and 2, Intermountain Engineering Limited, dated April 19, 1989, Amended Final Plat of Dauphinais- Moseley Subdivision Filing No. 1, A Resubdivision of Lots 5, 6, 7, 8, 9 7 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated July 21, 1998, and Amended Final Plat: A Resubdivision of Lot 5, Amended Final Plat: Dauphinais- Moseley Subdivision Filing 1: A Resubdivision of Lots 5, 6, 7, 8, 9, and 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated February 3, 2006. 4. Construction, grading and drainage drawings for a resubdivision of Lots 1 -19, Block 2, and Lionsridge Lane, Lionsridge Subdivision Filing No. 3, Town of Vail, Eagle County, Colorado, Intermountain Engineering Limited, sheets 1 -8, dated March 9, 1989. 5. Soils and Foundation Investigation for Lots 1 -24, Lionsridge 5th Filing. Town of Vail Page 5 12/20/2011 8 -3 -5 6. Lionsridge Color Palette, Arnold /Gwathmey /Pratt Architects, March 1990. 7. The subdivision plat for Dauphinais- Moseley Subdivision recorded August 23, 1990, July 21, 1998, and February 3, 2006. B. The development standards shall be as follows: 1. Acreage: The total acr agc area of this site is 10.69 acres or 465,650 square feet. 2. Permitted Uses: The following uses shall be permitted uscs for in SDD 22 shall bc: a. Single- family residcntial dwellings. b. Open space. c. Public roads. d. Employee housing units as dcfincd in Scction 5, further regulated by Subsection 5D of this ordinance and Chapter 12 -13, Employee Housing, Vail Town Code. 3. Conditional Uses: The following conditional uses shall be permitted in SDD 22, subject to the issuance of a conditional use permit in accordance with Chapter 12 -16, Conditional Uses, Vail Town Code: a. Public utility and public service uses. b. Public buildings, grounds and facilities. c. Public eF and private schools. d. Public park and recreation facilities. 4. Accessory Uses: The following accessory uses shall be permitted in SDD 22: a. Private greenhouses, toolsheds, playhouses, garages or carports, swimming pools, patios, or recreation facilities customarily incidental to single- family residential uses. b. Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of Section 12- 14 -12, Home Occupations, 4f-the Vail Town Code. c. Other uses customarily incidental and accessory to permitted or conditional uses, and necessary for the operation thereof. Town of Vail Page 6 12/20/2011 8 -3 -6 5. Setbacks: Minimum setbacks shall be as indicated on the approved site development plan by Intermountain Engineering, dated July 7, 1998. A 4- foot roof overhang shall be allowed in the front setback for Lots 15 -19, provided the rear setback is increased by 4 feet. A 4 -foot roof overhang shall be allowed in the rear setback of Lots 20 -24, provided the front setback is increased by 4 feet. Roof overhangs shall be allowed to encroach up to 2 feet into the required side setback of 10 feet for each lot. An unenclosed, unroofed, deck or patio within 5 feet of finished grade may encroach into the rear setback by 5 feet for Lots 1 -14 and Lots 20 -24. No other setback encroachments shall be allowed. 6. Density: Approval of this development plan shall permit a total of 23 single- family dwelling units on the entire property. n mini „m „f 6 employee dwelling units shall be rcquircd. A maximum of 23 employee €lwellipkg housing units shall be permitted on the entire property. 7. Building Height: For a sloping roof, the height of the building shall not exceed 33 feet. The height calculation shall be made by measuring from the existing grade as indicated on the Intermountain Engineering Topographical Survey dated March 13, 1990 or finished grade. Height shall be calculated per Scction 12 2 2 of thc Vail Town Codc pursuant to Section 12 -2 -2, Definitions, Vail Town Code. 8. Site Coverage: Not more than 25 percent of the total site area on each lot shall be covered by buildings. "Site coverage” shall m tho ,- o f percentage. For thc purposc of calculating • " _ . _ " _ • e.-_ _ _ " or roofed walkways. In addition to the above, building area shall also include any portion of roof overhang, avc, or covcrcd stair, covcrcd dcck, covcrcd porch, covcrcd terrace or covcrcd patio that cxtcnds morc than four fcct from thc exterior fact of perimctcr building walls or supporting columns be calculated pursuant to Section 12 -2 -2, Definitions, Vail Town Code. 9. Parking: Parking shall be as rcquircd in Title 12, Chapter 10 of thc provided pursuant to Chapter 12 -10, Off Street Parking and Loading, Vail Town Code. Each employee duelling housing unit within SDD 22 shall have at least one enclosed garage parking space. 10. Design Guidelines: The development of each lot shall be guided by the architectural and landscape design guidelines as approved as part of the Special Development District No. 22. The guidelines are as follows: Town of Vail Page 7 12/20/2011 8 -3 -7 a. Architectural. The architectural design of the buildings upon the site shall be such that buildings relate harmoniously to each other. This is not to imply that each building must look exactly similar to those around it, but that compatibility be achieved through the use of scale, materials and colors, and building shape and form. The overriding concern is that, upon completion, the Special Development District, because of the clustered nature of the small single - family lots situated around common open space, should appear to be an integrated development possessing a common architectural quality, character, and appearance. To this end the following general design criteria shall be followed by the developer and individual lot owners: b. Color. A palette of colors shall be as set forth in the Lionsridge Color Palette from Arnold /Gwathmey /Pratt dated March 1990. Colors are indicated for the use on different types of building materials and elements such as stucco colors, siding colors, metal flashing, windows, accent colors, etc. The palette of colors indicates a range of acceptable colors in order to encourage similarity on one hand, but also diversity within the acceptable range. c. Building Standards and Materials. The following building standards and materials shall be adhered to: (1) Roof. The roof pitch shall be a minimum 8/12 and a maximum of 12/12. A gable, clipped gable or hipped roof shall be mandatory. Dormers shall be allowed and re„ ie _ . -- ! - - - . : e _ e. The roofing material shall be synthetic wood shingles with staggered butts. (2) Chimneys. The chimneys shall be stucco with chimney caps of weathered copper. (3) Flues. All flues shall be galvanized or painted sheet metal, painted to match the roof. (4) Main Fascia. The main fascia shall be a solid color stain, with brown, taupe, or gray. (5) Secondary Fascia and Metal Railings above the First Floor. The secondary fascia and metal railings above the first floor shall be a muted accent trim color to h ^ cv cwcd by-the-DR-B. Town of Vail Page 8 12/20/2011 8 -3 -8 (6) Walls. Walls shall be of stucco and horizontal or vertical wood siding. Stucco colors shall be gray, beige or off - white. Wood siding colors shall be gray, brown or taupe. (7) Stone. Residences will shall have a minimum of a two foot high stone wainscot in rainbow mix with a sandstone cap around the perimeter of the structure, except under decks where substantially concealed by landscaping. (8) Windows. Windows located within stucco areas shall have a minimum of two inches of relief from the outside wall plane and have a sandstone sill. (9) Outdoor Lighting, Outdoor lighting shall be indirect with a concealed source except for an entry chandelier, two carriage lights and one pilaster light which may be exposed globes with a fixture of black or weathered copper look metal. The maximum number of outdoor lights permitted on each lot shall be 15, as calculated pursuant to Section 14- 10-7, Outdoor Lighting, Vail Town Code, regardless of lot size. !- - -- - - - e- .. „ . _ _ _ • Scrics of 1997, shall bc cxcmpt. All cxtcrior lighting shall bc royiawed by the RB (10) Garages. No garage doors shall directly face the street, except on Lot 24 and Lot 14. (11) A residential address /nameplate, if desired by the owner, shall be located on the side of the garage facing the access point to the lot. (12) When the individual landscape plans are designed for individual lots, special care shall be taken in the design of side yard landscaping in order to provide adequate screening between structures. 11. Recreational Amenities Tax: The recreation amenities tax shall be assessed at the rate for a Single - Family Residential Ze.14e District. SECTION 5. CONDITIONS OF APPROVAL A. The major amendment to Special Development District No. 22, Grand Traverse, shall not be effective until the major subdivision is recorded by the Town of Vail at the Eagle County Clerk and Recorder's Office. Town of Vail Page 9 12/20/2011 8 -3 -9 B. The major subdivision shall be recorded at the Eagle County Clerk and Recorder's Office prior to a building permit being released for any construction on Lots 2, 5, 7, 9 or 10. C. The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development District No. 22 shall provide a minimum of 6 deed - restricted employee housing en -site units. These required employee housing units may be located within SDD 22, off -site, or a combination thereof. Any required employee housing units located within SDD 22 shall be subject to the restrictions outlined in Subsection 5D of this ordinance. Any required employee housing units located off -site shall be subject to the provisions of Chapter 12 -13, Employee Housing, Vail Town Code. The required employee housing units, both on -site and off -site, shall be eligible for exchange in accordance with the procedures outlined in Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. D. The following restrictions shall apply to all employee €1.weiliRg housing units, required and non - required, within SDD -Pde- 22: 1. Thc developer shall build a minimum of six cmploycc dwclling units within thc subdivision. Each employee dwelling housing unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and i. n llowcd to shall have a kitchen or kitchenette. The square footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (Le., not including furring, sheetrock, plaster, and other similar wall finishes). - - _ _ _ - - _ _ . shall not be countcd toward allowable dcnsity for Special Development District No. 22. Thc dcvcloper may choosc to transfer up to 300 sq. ft. to 23 cmploycc dwclling units including thc 6 required dwclling units, if so 2. The employee dim housing units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee dreg housing unit shall be allowed per lot with a maximum of 23 employee housing units allowed. AR Each employee dreg housing unit shall be incorporated into the structure of the primary residence single - family dwelling and shall not be allowed to be separated from the primary unit single - family dwelling. Each employee dwelling housing unit shall have at least one enclosed garage parking space. This parking space shall not be detached from the single - family garage or structure. - - _ _ - _ _ _ _ _ - _ _ Town of Vail Page 10 12/20/2011 8 -3- 10 arc constructcd and available for rental. 3. The employee housing unit shall be leased to full -time employees who work in Eagle County. An EHU The employee housing unit shall not be leased for a period less than thirty consecutive days. For the purposes of this section, a full -time employee is one who works an average of thirty hours each week. 4. An EHU The employee housing unit may not be sold, transferred, or conveyed separately from any the single- family dwelling it may is a part of. 5. The EHU employee housing unit shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Municipal Codc of thc Town of Vail Town Code. 6. No later than February 1 of each year, the owner of each employee housing unit within SDD 22 thc town which is constructcd following thc effective datc of this chaptcr shall submit the Town of Vail Housing Authority sctting forth a sworn affidavit on a form provided by the Town of Vail to the Community Development Department containing the following information: evidence establishing that the employee housing unit has been rented throughout the year by an employee, the rental rate, the employer, and evidence to demonstrate that each at least one tenant who resides within the employee housing unit is a full -time employee in Eagle County. consistcnt with or lower than thosc markct ratcs prevalent for similar properties in thc Town of Vail. 8. Thc Town of Vail Housing Authority will dctcrminc thc markct ratc amenities throughout thc Town. Thc markct ratc shall bc based on an average of a minimum of five rcntal ratcs of comparable units. If thc unit provided herein, a unit found to bc in noncompliance shall bc subjcct to 7. All employee housing units within SDD 22 shall be eligible for exchange in accordance with the procedures outlined in Section 12- Town of Vail Page 11 12/20/2011 8 -3- 11 13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. 8. Q- The provisions of these rcstrictivc covcnants restrictions may be enforced by the Owner and the Town. The provisions of these restrictions may also be enforced by the Town of Vail in accordance with Chapter 12 -3, Administration and Enforcement, Vail Town Code. 9. 10. The conditions, restrictions, stipulations, and agreements contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. E. D- The architectural and landscape design guidelines shall be incorporated into the subdivision covenants before the final plat is recorded at the Eagle County Clerk and Recorder's Office. The Town Of Vail shall be party to these agreements. SECTION 6. AMENDMENTS Amendments to Special Development District No. 22 shall follow the procedures containcd in Scction 18.40.100 of the Vail Municipal Codc prescribed in Section 12- 9A -10, Amendment Procedures, Vail Town Code. SECTION 7. EXPIRATION The applicant must begin construction of the Special Development District within 3 years from the time of its final approval, and continue diligently toward completion of the project. If the applicant does not begin and diligently work toward the completion of the Special Development District or any stage of the Special Development District within the time limits imposed by the preceding subsection, the Town of Vail Planning and Environmental Commission shall review the Special Development District. They shall recommend to the Vail Town Council that either the approval of the Special Development District be extended, that the approval of the Special Development District be revoked, or that the Special Development District be amended. III. BACKGROUND The subject property was annexed into the Town of Vail, along with other properties in the vicinity, on August 15, 1979, by Ordinance No. 29, Series of 1979. On August 29, 1979, the Vail Town Council adopted a final plat which in part subdivided the subject property as Lots 1 -19, Block B, Lion's Ridge Subdivision Filing 3. Town of Vail Page 12 12/20/2011 8 -3- 12 On August 16, 1988, the Vail Town Council adopted Ordinance No. 23, Series of 1988, to establish Special Development District No. 22. The stated purpose of this district was in part: there are significant aspects of Special Development 22 which are difficult to satisfy through the imposition of the standards of the Primary /Secondary zone district. SDD 22 allows for greater flexibility in the development of the land than would be possible under the current zoning of the property. The smaller single family lots provide the opportunity for a common open space for the subdivision as well as to preserve the southerly ridge line of the property. SDD 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties and the community in general." On April 17, 1990, the Vail Town Council adopted Ordinance No. 13, Series of 1990, amending Special Development District No. 22 concerning lot size and corresponding gross residential floor area (GRFA), curb cuts, employee dwelling units, and architectural guidelines. In part, Section 5 of this ordinance includes the condition of approval that: "G. The development of Special Development District No 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need, the developer of Special Development No. 22 shall provide employee housing on site. The following restrictions shall apply to all employee housing units within SDD No. 22: The developer shall build a minimum of six employee dwelling units within the subdivision " On May 14, 1990, the Town of Vail Planning and Environmental Commission approved the re- subdivision of the subject property as the Dauphinais - Moseley Subdivision Filing 1. This plat includes notes that: "The Development Standards for this final plat entitled which include the total acreage of this resubdivision, permitted uses, conditional uses, accessory uses, maximum GRFA for Lots 1 through 24 inclusive, setbacks, density, building height, site coverage, parking, and other design guidelines shall be set forth in Ordinance No. 13, Series of 1990 entitled " The provisions of Special Development District No. 22, Grand Traverse, were subsequently amended as follows: • Ordinance No. 9, Series of 1998, concerning lot sizes, number of lots and corresponding development standards, and architecture guidelines. Town of Vail Page 13 12/20/2011 8 -3 -13 • Ordinance No. 10, Series of 1991, concerning lot size and corresponding GRFA and employee dwelling units and architectural guidelines. • Ordinance No. 32, Series of 1991, providing typographical and wording corrections. • Ordinance No. 25, Series of 2005 (Attachment C), concerning the elimination of GRFA limitations within the district and the number of lots. • January 21, 2008, Staff approved minor amendment modifying the allowable roofing types (i.e. prohibiting wood shakes). On January 6, 2009, the Vail Town Council adopted Ordinance No. 31, Series of 2008, to establish an employee housing deed - restriction exchange program. The stated purpose of these new regulations was as follows: "The purpose of this Section is to provide occupied livable, affordable employee housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows for the release of a deed restriction from an existing employee housing unit in exchange for the conveyance of a free market dwelling unit to the Town of Vail to be deed restricted." On June 21, 2011, the Vail Town Council amended the employee housing deed - restriction exchange program through the adoption of Ordinance No. 10, Series of 2011. The purpose of the exchange program regulations was amended to read as follows: "The purpose of this Section is to provide occupied livable, affordable employee housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows the Town Council to release a deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on another dwelling unit and/ or a fee -in -lieu payment made to the Town of Vail." On September 26, 2011, the Planning and Environmental Commission reviewed a similar application for a major amendment to Special Development District No. 29, The Valley Phase II. The Commission forwarded a recommendation of approval to the Vail Town Council to allow the on -site employee housing requirements of The Valley Phase II to be met off -site through the employee housing unit deed restriction exchange program. On October 18, 2011, the Vail Town Council adopted Ordinance No. 19, Series of 2011, an ordinance repealing and reenacting Special Development District NO. 29, The Valley Phase II, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the exchange of the on -site employee housing unit (EH U) requirement in Town of Vail Page 14 12/20/2011 8 -3 -14 accordance with the provisions of section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. IV. APPLICABLE PLANNING DOCUMENTS Staff believes that the following are relevant to the review of this proposal: TITLE 12: ZONING REGULATIONS, VAIL TOWN CODE ARTICLE A. SPECIAL DEVELOPMENT (SDD) DISTRICT (in part) 12 -9A -1: PURPOSE AND APPLICABILITY: A. Purpose: The purpose of the special development district is to encourage flexibility and creativity in the development of land in order to promote its most appropriate use; to improve the design character and quality of the new development with the town; to facilitate the adequate and economical provision of streets and utilities; to preserve the natural and scenic features of open space areas; and to further the overall goals of the community as stated in the Vail comprehensive plan. An approved development plan for a special development district, in conjunction with the property's underlying zone district, shall establish the requirements for guiding development and uses of property included in the special development district. 12 -9A -2: DEFINITIONS: MAJOR AMENDMENT (PEC AND /OR COUNCIL REVIEW): Any proposal to change uses; increase gross residential floor area; change the number of dwelling or accommodation units; modify, enlarge or expand any approved special development district (other than "minor amendments" as defined in this section), except as provided under section 12 -15 -4, "Interior Conversions", or 12- 15-5, "Additional Gross Residential Floor Area (250 Ordinance)", of this title. 12 -13 -5: EMPLOYEE HOUSING UNIT DEED RESTRICTION EXCHANGE PROGRAM: A. Purpose: The purpose of this Section is to provide occupied livable, affordable employee housing units within the Town of Vail through the establishment of an employee housing unit deed restriction exchange program. The exchange program allows the Town Council to release a deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on another dwelling unit and/ or a fee -in -lieu payment made to the Town of Vail. B. Applicability: The program established under this section applies to existing employee housing units. This shall not apply to any existing employee housing Town of Vail Page 15 12/20/2011 8 -3- 15 unit that is already price appreciation capped or any employee housing unit established to meet the on site employee mitigation requirements of chapter 23, "Commercial Linkage", or chapter 24, "Inclusionary Zoning', of this title or as part of an approved development plan. C. Definitions: For the purpose of this section: COMMERCIAL JOB CORE: Those areas located south of Interstate 70, east of the intersection of Forest Road and South Frontage Road, north of Vail Mountain, and west of the town of Vail soccer fields on Vail Valley Road, as further defined by exhibit A of this section. Exchange EHU: The existing non -price appreciation capped employee housing unit or other unit with an employee housing deed restriction that is being proposed to have the deed restriction released as part of this program. Proposed EHU: The existing dwelling unit that is being proposed to receive an employee housing deed restriction as part of this program. D. General Requirements: The Town Council may approve the removal of an employee housing deed restriction from an existing employee housing unit in exchange for the placement of an employee housing deed restriction on to another dwelling unit, and /or the payment of a fee -in -lieu. 1. Exchange EHU requirements: a. The exchange EHU shall not be part of any employee housing project developed or deed - restricted (in part or in whole) by the Town of Vail. b. The exchange EHU shall not be part of any on -site employee housing mitigation required by inclusionary zoning, commercial linkage, or as part of an approved development plan. c. The property that includes the exchange EHU shall comply with the prescribed development standards (density controls including GRFA and number of units, site coverage, landscaping and parking requirements, etc.), as outlined in the applicable zone district section of Title 12, Zoning Regulations, Vail Town Code, upon exchange of the deed restrictions. 2. Proposed EHU requirements: a. The proposed EHU(s) shall be located within the Town of Vail. b. The proposed EHU(s) shall be within a homeowners association that does not preclude deed restricted units, does not have a right of first refusal, does not have right to approve the sale or the sale contract, or Town of Vail Page 16 12/20/2011 8 -3 -16 have any other requirements deemed to be similarly restrictive by the Administrator. c. The proposed EHU shall comply with the minimum size requirements shown in Table 13 -2. TABLE 13 -2: MINIMUM SIZE OF PROPOSED EHUs Type Of Unit Minimum Size (GRFA) Studio 438 square feet 1 bedroom 613 square feet 2 bedroom 788 square feet 3+ bedrooms 1,225 square feet d. The proposed EHU shall contain a kitchen facility or kitchenette and a bathroom. e. The property on which the proposed EHU is located shall comply with Chapter 12 -10, Off - Street Parking and Loading, Vail Town Code. f. The proposed EHU shall have its own entrance. There shall be no interior access from the proposed EHU to any dwelling unit to which it maybe attached. 3. Exchange Rate for Proposed EHUs: a. If the exchange EHU(s) is within the commercial job core and the proposed EHU(s) is also within the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of two (2) times the gross residential floor area (GRFA) of the exchange EHU. b. If the exchange EHU is within the commercial job core and the proposed EHU(s) is outside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of three (3) times the gross residential floor area (GRFA) of the exchange EHU. c. If the exchange EHU is outside of the commercial job core and the proposed EHU(s) is inside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of one and one -half (1.5) times the gross residential floor area (GRFA) of the exchange EHU. d. If the exchange EHU is outside of the commercial job core and the proposed EHU(s) is outside of the commercial job core, the gross residential floor area (GRFA) of the proposed EHU(s) shall be a minimum of two (2) times the gross residential floor area (GRFA) of the exchange EHU. 4. No Credit Given: If the gross residential floor area (GRFA) of the proposed EHU(s) is in excess of the minimum required gross residential floor area (GRFA) as set forth in Subsection D3 above, the additional gross residential floor area (GRFA) shall not be eligible for use as any Town of Vail Page 17 12/20/2011 8 -3 -17 form of future credit or for the Commercial Linkage or Inclusionary Zoning employee housing mitigation banks established by Sections 12- 23-7 and 12 -24 -7, Vail Town Code. 5. Fee -In -Lieu: The applicant may elect to provide a fee -in -lieu payment to the Town of Vail for any portion of the required square footage not provided by a proposed EHU. The town shall only use monies collected from the fees in lieu to provide new employee housing. The applicant shall pay a fee -in -lieu equal to the following formulas: Existing EHU sqft x multiplier x inclusionary zoning fee = Fee -in -Lieu Payment a. If the exchange EHU was approved prior to July 22, 1994 and has a deed restriction that includes the language stating "if the unit is rented, it shall be rented only to tenants who are full time employees ," the formula for fee -in -lieu payment is: [the square footage of the exchange EHU as recorded on the deed restriction] x [the current rate for inclusionary zoning fee -in -lieu] x 1 b. If the exchange EHU was approved after July 22, 1994 and /or does not have a deed restriction that includes the language stating "if the unit is rented, it shall be rented only to tenants who are full time employees ", and If the exchange EHU is outside of the commercial job core, the formula for fee -in -lieu payment is: [the square footage of the exchange EHU as recorded on the deed restriction] x [the current rate for inclusionary zoning fee -in -lieu] x 2 c. If the exchange EHU was approved after July 22, 1994 and /or does not have a deed restriction that includes the language stating "if the unit is rented, it shall be rented only to tenants who are full time employees ", and is within the commercial job core, the formula for fee -in -lieu payment is: [the square footage of the exchange EHU as recorded on the deed restriction] x [the current rate for inclusionary zoning fee -in -lieu] x 3 F. Review Process: 1. Submittal Requirements: The administrator shall establish the submittal requirements for an employee housing deed restriction exchange application. A complete list of the submittal requirements shall be maintained by the administrator and filed in the community development department. Certain submittal requirements may be waived and /or modified by the administrator and /or the reviewing body if it is demonstrated by the applicant that the information and materials required are not relevant to the proposed exchange. The administrator and /or the reviewing body may require the submission of additional materials if deemed necessary to properly evaluate the application. 2. Review Procedures: Town of Vail Page 18 12/20/2011 8 -3 -18 a. Administrator Review: The administrator shall review the application for completeness and compliance with this section, and shall make a determination of completeness and compliance with this section within fourteen (14) days of application submittal. Should the administrator deem that the application is incomplete or not in compliance with this section, the administrator shall deny the application. Should the administrator deem the application is both complete and in compliance with this section, the administrator shall forward the application for review by the Vail local housing authority. b. Vail Local Housing Authority Review: The review of a proposed employee housing deed restriction exchange application shall be held by the Vail local housing authority at a regularly scheduled meeting. A report of the community development department staff's findings and recommendations shall be made at the formal hearing before the Vail local housing authority. Within twenty (20) days of the closing of a public hearing on a proposed amendment, the Vail local housing authority shall act on the application. The authority may recommend approval of the application as initiated, may recommend approval with such modifications as it deems necessary to accomplish the purposes of this title, or may recommend denial of the application. The authority shall transmit its recommendation, together with a report on the public hearing and its deliberations and findings, to the town council. c. Town Council Review: Upon receipt of the report and recommendation of the authority, the town council shall set a date for hearing within the following thirty (30) days. Within twenty (20) days of the closing of a public hearing on the application, the town council shall act on the application. The town council shall consider but shall not be bound by the recommendation of the Vail local housing authority. The town council may approve, either in accordance with the recommendation of the Vail local housing authority or in modified form, or the council may deny the application. 3. Criteria and Findings: a. Criteria: Before acting on an Employee Housing Deed Restriction Exchange application, the Vail Local Housing Authority and Vail Town Council shall consider the following criteria with respect to the application: 1. The proximity and accessibility of the proposed EHU(s) to the Commercial Job Core and public transportation; and 2. The size of the proposed EHU(s) in relation to the minimum employee housing unit sizes established for Commercial Linkage mitigation in Section 12 -23 -3, Vail Town Code; and 3. The effect of any homeowners association dues or maintenance fees imposed upon the proposed EHU(s) on the affordability of the proposed unit for an employee; and 4. The correlation between any homeowners association fees imposed upon the proposed EHU(s) and the services and amenities provided by the homeowners association. Town of Vail Page 19 12/20/2011 8 -3 -19 5. The extent to which the exchange is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and 6. The extent to which the exchange presents a harmonious, convenient, workable relationship among land uses consistent with municipal development objectives; and 7. The extent to which the exchange provides for the growth of an orderly viable community and serves the best interests of the community as a whole. TOWN OF VAIL EMPLOYEE HOUSING STRATEGIC PLAN OBJECTIVES F. Increase and maintain deed - restricted housing within the Town to encourage the efficient use of resources by placing employees closer to their place of work. It is understood there is a reduced need for personal automobiles and reduced transit costs when home and work are in close proximity to one another. Also, there may be changes in workforce demographics that result in opportunities to reduce parking associated with affordable housing in selected locations. To the extent these opportunities can be realized, without negative impacts on the overall community, they will be explored. EMPLOYEE HOUSING UNITS EXCHANGE PROGRAM The Town will conduct a review of the "dispersed housing units" that have been created under the density bonus provisions allowed by Town Code since 1982. It is estimated that 123 units were created under the existing program, typically ranging in size from 300 to 500 square feet. It is believed that many of these units are not being used to house employees as anticipated by the program. Although these units are covered by various types of deed restrictions, the requirements are not uniform and in many cases are not meeting the objective of providing long -term dispersed employee housing. The Town will evaluate the current program and will consider a "deed restriction exchange program" as a part of this overall effort. The program would likely permit, at the initiation of the landowner, the exchange of small rental units for a larger for -sale, price appreciation capped employee housing unit. Guidelines for the program will be developed. It is expected that these standards will address recommended size of units, location, homeowner's fees and other aspects of the program. Such a program has been recently tried in Vail. It is believed that other dispersed employee units, not currently in use, could be leveraged into permanently restricted units by using this technique; it could represent an important element of this overall plan. The Units Exchange Program is to increase the quality and the Town of Vail Page 20 12/20/2011 8 -3 -20 total quantity of employee housing within the Town of Vail. Achieves Objectives B, E, F, and G. V. SITE ANALYSIS Addresses: 1402 through 1428 Moraine Drive and 1450, 1500, 1550, 1600, 1650, 1700, 1750, 1800, and 1850 Lions Ridge Loop Legal Description: Lots 1 through 24, Dauphinais - Moseley Subdivision Filing 1 Zone District: Two - Family Primary /Secondary District (underlying) SDD No. 22, Grand Traverse Land Use Designation: Medium Density Residential Geologic Hazards: None VI. SURROUNDING LAND USES AND ZONING Existing Use Zoning District North: Residential Two - Family Primary/Secondary District West: Residential Two - Family Primary/Secondary District Lodge Public Accommodation 2 District East: Residential Low Density Multiple - Family District Residential Two - Family Primary/Secondary District South: I-70/Hwy. 6 n/a VII. REVIEW CRITERIA The following design criteria shall be used as the principal criteria in evaluating the merits of the proposed special development district. It shall be the burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved: 1. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The six employee housing units required for Special Development District No. 22, Grand Traverse, have already been built in the Dauphinais - Moseley Subdivision and Staff finds the integration of that floor area into the associated primary residences will not affect the design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. Town of Vail Page 21 12/20/2011 8 -3 -21 2. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. Staff finds that allowing the removal of the on -site employee housing units will reduce the density of the subdivision which will continue to provide a compatible, efficient and workable relationship with surrounding uses and activity. The housing opportunities provided by these existing employee housing units will be continued in accordance with the Employee Housing Unit Deed Restriction Exchange Program regulations. 3. Parking and Loading: Compliance with parking and loading requirements as outlined in Chapter 12 -10, Vail Town Code. Staff finds that allowing the removal of the on -site employee housing units will improve compliance with parking and loading requirements as outlined in Chapter 12 -10, Off Street Parking and Loading, Vail Town Code. 4. Comprehensive Plan: Conformity with applicable elements of the Vail comprehensive plan, town policies and urban design plans. Staff finds the application conforms to Town of Vail Employee Housing Strategic Plan recommendations for an employee housing exchange program. 5. Natural And/ Or Geologic Hazard: Identification and mitigation of natural and /or geologic hazards that affect the property on which the special development district is proposed. The subject property is not located within a mapped geologic hazard area, so Staff finds this criterion to not be applicable. 6. Design Features: 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. The six employee housing units required for Special Development District No. 22, Grand Traverse, have already been built in the Dauphinais - Moseley Subdivision and Staff finds the integration of that floor area into the associated primary residences will not affect any natural features, vegetation or the overall aesthetic quality of the community. 7. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off site traffic circulation. Town of Vail Page 22 12/20/2011 8 -3 -22 Staff finds that allowing the removal of the on -site employee housing units will reduce the density of the subdivision and will reduce demand on the existing vehicle and pedestrian traffic both on and off site. 8. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. The six employee housing units required for Special Development District No. 22, Grand Traverse, have already been built in the Dauphinais - Moseley Subdivision and Staff finds the integration of that floor area into the associated primary residences will not affect the existing landscaping or open spaces. 9. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. The six employee housing units required for Special Development District No. 22, Grand Traverse, have already been built and the Dauphinais - Moseley Subdivision Filing 1 has already been implemented, so Staff finds this criterion to not be applicable. VIII. RECOMMENDATION The Community Development Department recommends the Planning and Environmental Commission forwards a recommendation of approval, with modifications, to the Vail Town Council for the proposed major amendment to Special Development District No. 22, Grand Traverse. Staff's recommendation is based upon a review of the criteria and findings as outlined in this memorandum and the evidence and testimony presented. Should the Planning and Environmental Commission choose to forward a recommendation of approval, with modifications, of this major amendment to a special development district, the Community Development Department recommends the Commission pass the following motion: "The Planning and Environmental Commission forwards a recommendation of approval for the major amendment to Special Development District No. 22, Grand Traverse, pursuant to Section 12 -9A- 10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; located at 1402 through 1428 Moraine Drive and 1450, 1500, 1550, 1600, 1650, 1700, 1750, 1800, and 1850 Lions Ridge Loop/ Lots 1 through 24, Dauphinais - Moseley Subdivision Filing 1, subject to the modifications outlined in Section 11 of Town of Vail Page 23 12/20/2011 8 -3 -23 the December 12, 2011, staff memorandum, and setting forth details in regard thereto." Should the Planning and Environmental Commission choose to forward a recommendation of approval for this major amendment to a special development district, the Community Development Department recommends the Commission make the following findings: "Based upon the review of the criteria outlined in Section VIII of the December 12, 2011 staff memorandum and the evidence and testimony presented, the Planning and Environmental Commission finds: 1. The proposal to amend Special Development District No. 22, Grand Traverse, complies with the nine design criteria outlined in Section 12 -9A -8 of the Vail Town Code; and, 2. The applicant has demonstrated to the satisfaction of the Commission, based upon the testimony and evidence presented during the public hearing, that any adverse effects of the requested deviations from the development standards of the underlying zoning are outweighed by the public benefits provided; and, 3. The request is consistent with the development goals and objectives of the Town of Vail Comprehensive Master Plan." IX. ATTACHMENTS A. Vicinity Map B. Applicant's Request C. Ordinance No. 25, Series of 2005 Town of Vail Page 24 12/20/2011 8 -3 -24 m ca Cam G /drill TraivMrsc+ Special Development District No. 22 I L__.� — IFeat 0 50 100 200 inch Mt otwnd nYtno O., qIW ..r. ma i 1 fnr. orntIonr � ?uII lOwll ore H A JO UMO j ■ Abu. .: - • 1 t 5 : ill -- 37 12 L74...7 .2 " Fr ''''IAL1 4 DEVELOPMENT 1 DISTRIC Lai. GRAND T it s • y .,, f J 170 :- % „\v. ` , T , Applicant: .t`'`" William & Pamela Bailey ; , '! ,.. 2420 Moraine dr. , t 4 41 , ., " Vail, Co 81657 r �� 4 t— r ' ; . Representative: • . - :WI,.. Mauriello Planning Group ; ' j 41--1Z-:. Po Box 4 i ' r 4s .,;,_ . Eagle, CO 81631 - r" f ,,� Al,,', „,,,,z- • 4 4 ; del ,..,-- .,,, I Major Amendment to SDD NO. 22 to Allow the Grand Traverse Neighborhood to Participate in the EHU Exchange Program. l Mauriello Planning Group 12/20/2011 8 -3 -26 L Introduction William and Pamela Bailey own a home located at 1420 Moraine Drive /Lot 10, Dauphinais- Moseley Subdivision Filing 1, with a deed- restricted employee housing unit within the Grand Traverse Special Development District. Based upon the recent changes to the Employee Housing Exchange Program, the applicants would like to participate in this program like any other owner of a deed restricted employee housing unit within the Town. However, the Grand Traverse neighborhood is within Special Development District No. 22 (SDD #22), Grand Traverse, and the existing language of the adopting ordinance of SDD #22 must be amended to allow participation in the exchange program. While the language of the Chapter 13, Employee Housing, Section 12 -13 -5 (A and B) states that the exchange program "applies to existing employee housing units," Town Staff indicated that to participate in the EHU Exchange Program, a major amendment to SDD #22 is necessary. This proposed change would allow any properties with an EHU in the Grand Traverse neighborhood to participate in the program. The applicant agrees with the Town staff that this amendment is necessary to clarify the applicability of the exchange program to this SDD. Should the proposed amendment be approved, the applicants will be requesting a transfer of the deed restriction to a currently non- deed - restricted unit in accordance with Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code. The recorded deed restriction on the Bailey property is for a 796 sq. ft. EHU and as a result, the proposed exchanged employee housing unit will have to be at least 1,592 sq. ft. (if outside the commercial job core), the size of which is much more suitable to accommodating a family on a long term basis. Once the existing EHU is exchanged, the Bailey Residence remains in compliance with zoning and GRFA standards as contained in SDD 1422. 11. Special Development District No. 22, Grand Traverse The area included within SDD #22 was annexed into the Town of Vail by Ordinance 29, Series of 1979 which • became effective on August 15, 1979. SDD #22 was created from 10.59 acres of \ land with an underlying zoning of Primary/ `t Secondary zone district by Ordinance 23, Series of 1988. ft included the creation of " -r the Dauphinais- Moseley Subdivision Filing 1, recorded in 1990 consisting of 24 lots • and 3.741 acres of open space. /pi lei , , " Fil In October of 2004, Ordinance 14, series Town of Vail Zoning Map indicating SDD No. 22, Grand Traverse of 2004, amended the GRFA regulations of the Town of Vail. Because SDD #22 limited GRFA to less than was allowed by the underlying zoning, the Grand Traverse neighborhood was unable to take advantage of the increase in GRFA of the zone district. Also, with the new GRFA regulations, the Grand Traverse owners could no longer request 250 additions or interior conversions. In addition, the SDD did not allow the properties to use the basement deduction allowances of the new GRFA regulations. II r1 Mlourielle planning Group 12/20/2011 1 8 -3 -27 Due to these inconsistencies with the new GRFA regulations, on January 2, 2006, The Town Council approved Ordinance 25, Series of 2005, which eliminated GRFA in SDD #22. As a result, bulk and mass is regulated by the other development standards of SDD #22 and GRFA is no longer a limiting factor. 111. Proposed Amendments Section 5 of Ordinance 25, Series of 2005, is the section which outlines the conditions of approval of SDD #f22, and includes Section S.C. which are the conditions specifically related to the Employee Housing Requirements of the SDD. Section S.C. is proposed to be amended as follows (language to be added is indicated in bold italic and language to be removed is indicated in strike thru italic: The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley Area. In order to help meet this additional employee housing need the developer of 5pecial Development District No. 22 shall provide employee housing Vie. The following restrictions shall apply to all employee dwelling units within SDD No 22: 1. The developer shall build a minimum of six employee dwelling units within the .subdivision. Each employee dwelling unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and is allowed to have a kitchen. The square footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (i.e not including furring, sheetrock, plaster, and other similar wall finishes.) The number of employee units shall not be counted toward allowable density for Special Development District No 22. The developer may choose to transfer up to 300 sq. ft. from the primary unit to the employee unit. The developer may provide up to 23 employee dwelling units including the 6 required dwelling units if so desired. 2. The employee dwelling units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee dwelling unit shall be allowed per lot with a maximum of 23 units allowed. An employee dwelling shall be incorporated into the structure of the primary residence and shall not be allowed to be separated from the primary unit. Each employee dwelling unit shall hove at least one enclosed garage parking space. This parking space shall not be detached from the single - family garage or structure. Each phase of construction shall include a minimum of one employee dwelling unit until six employee dwelling units are constructed and available for rental. 3. The Employee Housing Unit shall be leased to tenants who are full -time employees who work in Eagle County. An FHU shall not be leased for a period less than thirty consecutive days. For the purposes of this section, o full -time employee is one who works an average of thirty hours each week. 4. An EHU may not be sold, transferred, or conveyed separately from any single-family dwelling it may bea part of 5. The EHU shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Municipal Code of the Town of Vail. II Mlauriclio Planning Group 12/20/2011 2 8-3-28 6. No later than February 1 of each year, the owner of each employee housing unit within the town which is constructed following the effective date of this chapter shall submit two copies of a report on a form to be obtained from the Community Development Department, to the Community Development Department of the Town of Vail and Chairman of the Town of Vail Housing Au thority setting forth evidence establishing that the employee housing unit has been rented throughout the year, the rental rate, the employer, and that each tenant who resides within the employee housing unit is a full -tune employee in Eagle County. 7. The owner of each EHU shall rent the unit at a monthly rental rate consistent with or lower than those market rates prevalent for similar properties in the Town of Vail, 8. The Town of Vail Housing Authority will determine the market rate based an the study of other units of comparable size, location, quality and amenities throughout the Town. The market rate shall be based on an overage of a minimum of five rental rates of comparable units. If the unit is not rented and is not available at the market rate it shall be determined to be in noncompliance. In addition to any other penalties and restrictions provided herein, a unit found to be in noncompliance shall be subject to publication as determined by the Housing Authority. 9. The provisions of these restrictive covenants may be enforced by the Owner and the Town. 10. The conditions, restrictions, stipulations, and agreements contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. 11. Notwithstanding the above restrictions, deed- restricted employee housing units within Special Development District No. 22 shall be allowed to participate in the Employee Housing Deed Restriction Exchange Program, as adopted by Ordinance No. 10, Series of 2011, and as codified in 12- 13 -5: Employee Housing Unit Deed Restriction Exchange Program. IV. Criteria for Review The following design criteria shall be used as the principal criteria in evaluating the merits of the proposed special development district. It shall be the burden of the applicant to demonstrate that submittal material and the proposed development plan comply with each of the following standards, or demonstrate that one or more of them is not applicable, or that a practical solution consistent with the public interest has been achieved: 1. Compatibility: Design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation. The proposed major amendment to allow participation in the exchange program does not affect design compatibility and sensitivity to the immediate environment, neighborhood and adjacent properties relative to architectural design, scale, bulk, building height, buffer zones, identity, character, visual integrity and orientation, as none of these components change. 2. Relationship: Uses, activity and density which provide a compatible, efficient and workable relationship with surrounding uses and activity. I1 Mauriello Planning Group 12/20/2011 3 8-3-29 The exchange of any on -site employee housing units will reduce density and will improve the workable relationship with surrounding uses and activity. The purpose of the on -site employee housing unit was to provide more employee housing, but also potentially house someone who would manage the facilities on -site. Since many employee housing units are not utilized by someone working on -site, the use may be better suited at a location near transportation and job cores. 3. Parking And Loading: Compliance with parking and loading requirements as outlined in chapter lO of this title. The removal of the employee housing units will reduce the parking requirements of dwelling units. As a result, any owner choosing to participate in the EHU Exchange Program will remain in compliance with the parking requirements of Chapter 10, Vail Town Code. 4. Comprehensive Plan: Conformity with applicable elements of the Vail comprehensive plan, town policies and urban design plans. The application complies with Objective F of the Town of Vail Employee Housing Strategic Plan, which calls for "placing employees closer to their place of work." The removal of the on -site employee housing units and relocation to somewhere closer to public transportation and /ar the job core will improve the employee experience and will provide for a more usable employee housing unit. Further, the Town of Vail Employee Housing Strategic Plan calls for an exchange program, which was created as a result of the plan. This exchange program is being proposed to be utilized in order to replace an underperforming EHU with a performing EHU and to provide employee housing of sufficient size to allow for families to live long term within the Town. 5. Natural And/ Or Geologic Hazard: Identification and mitigation of natural and/or geologic hazards that affect the property on which the special development district is proposed. This criteria is not applicable to this application. The EHU in question is not located in a hazard area. 6. Design Features: 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. The are no changes to design or bulk and mass required for the implementation of this amendment and therefore this criteria is not applicable. 7. Traffic: A circulation system designed for both vehicles and pedestrians addressing on and off site traffic circulation. The exchange of employee housing units on -site wilt reduce congestion on and off -site. This is the result of fewer vehicles likely traveling to this location, fewer units accessed off of shared drives, and less pedestrians walking down the street to reach public transportation. II MSnurfeIIa Planning iGevvp 12/20/2011 4 8 -3 -30 8. Landscaping: Functional and aesthetic landscaping and open space in order to optimize and preserve natural features, recreation, views and function. Because the structures, site, and landscaping plans are not changing due to this amendment, this criteria is not applicable. 9. Workable Plan: Phasing plan or subdivision plan that will maintain a workable, functional and efficient relationship throughout the development of the special development district. Because the structures within the SDD are not changing, and the SDD is mostly built out, this criteria is not applicable. II Muuriello Planning Group 12/20/2011 5 8 -3 -31 ORDINANCE NO. 25 Series of 2005 AN ORDINANCE REPEALING AND REENACTING ORDINANCE NO. 9, SERIES OF 1998, PROVIDING FOR CHANGES TO SPECIAL DEVELOPMENT DISTRICT NO. 22, GRAND TRAVERSE, THAT CONCERN THE ELIMINATION OF GROSS RESIDENTIAL FLOOR AREA (GRFA) WITHIN THE DISTRICT AND THE NUMBER OF LOTS; AND SETTING FORTH DETAILS IN REGARD THERETO WHEREAS, Chapter 9 of the Vail Town Code authorizes Special Development Districts within the Town; and WHEREAS, The Town Council approved Ordinance No. 9, Series of 1998 Special Development District No. 22, Grand Traverse; and WHEREAS, The president of the Grand Traverse H.O.A. has requested to amend the existing Special Development District No. 22; and WHEREAS, Section 12 -9A -10 of the Vail Town Code provides procedures for major amendments to existing Special Development Districts; and • WHEREAS, The applicant has complied with the requirements outlined in Section 12 -9A -10 of the Vail Town Code; and WHEREAS, The Special Development District provides for creativity and flexibility to allow for the development of land within the Town of Vail; and WHEREAS, On September 26, 2005, the Planning and Environmental Commission held a public hearing on the major amendment proposal and has recommended that certain changes be made to Special Development District No. 22, Grand Traverse; and WHEREAS, The Town Council considers that it is reasonable, appropriate, and beneficial to the Town and its citizens, inhabitants, and visitors to repeal and re -enact Ordinance No. 9, Series of 1998 to provide for certain changes in Special Development District No. 22, Grand Traverse. • 12,20 11 8 .3.32 • NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Ordinance No. 9, Series of 1998 is hereby repealed and re- enacted to read as follows: Section 1. Amendment Procedures Fulfilled. Planning Commission Report The approval procedure prescribed in Title 12, Chapter 9, Section 10(B) of the Vail Town Code have been fulfilled, and the Vail Town Council has received the report of the Planning and Environmental Commission recommending approval, of the proposed development plan for Special Development District No. 22. Section 2. Special Development District No. 22 Special Development District No. 22 (SDD 22) and the development plan therefore, are hereby approved for the development of Lots 1 through 19, Block 2, Lionsridge Subdivision Filing 3 within the Town of Vail consisting of 10.69 acres. Section 3. Purpose Special Development District No. 22 is established to ensure comprehensive development and use of an area that will be harmonious with the general character of the Town of Vail. The development is regarded as complementary to the Town by the Town Council and meets each of the design standards and criteria as set forth in Section 12 -9A -8 of the Vail Town Code. There are significant aspects of Special Development District No. 22 that are difficult to satisfy through the imposition of the standards of the underlying Primary/Secondary Residential Zone District. Special Development District No. 22 allows for greater flexibility in the 411 development of the land than would be possible under the current zoning of the property. The smaller single - family lots provide the opportunity for a common 12/20/3111 8 3 -33 • open space for the subdivision as well as the means to preserve the southerly ridge line of the property. Special Development District No. 22 provides an appropriate development plan to preserve the visual quality of the site from within the subdivision as well as adjacent properties in the community in general. Section 4. Development Plan A. The development plan for SDD 22 is approved and shall constitute the plan for development within the Special Development District. The development plan is comprised of those plans submitted by Dauphinais - Moseley Construction and consists of the following documents: 1. Site development plan, Lionsridge Resubdivision of Lots 1 -19, Vail, Colorado, Intermountain Engineering, dated July 7, 1998. • 2. Conceptual landscape plan, Intermountain Engineering, dated July 7, 1998. 3. Final Plat of Lionsridge Subdivision Filing No. 5, A Resubdivision of Lots 1- 19, Block 2, Lionsridge Subdivision Filing No. 3, Town of Vail, County of Eagle, State of Colorado, sheets 1 and 2, Intermountain Engineering Limited, dated April 19, 1989, Amended Final Plat of Dauphinais - Moseley Subdivision Filing No. 1, A Resubdivision of Lots 5, 6, 7, 8, 9 710, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated July 21, 1998, and Amended Final Plat: A Resubdivision of Lot 5, Amended Final Plat: Dauphinais - Moseley Subdivision Filing 1: A Resubdivision of Lots 5, 6, 7, 8, 9, and 10, Town of Vail, County of Eagle, State of Colorado, Intermountain Engineering, dated February 3, 2006. 4. Construction, grading and drainage drawings for a resubdivision of Lots 1- 19, Block 2, and Lionsridge Lane, Lionsridge Subdivision Filing No. 3, Town of Vail, Eagle County, Colorado, Intermountain Engineering Limited, sheets 1 -8, dated March 9, 1989. 5. Soils and Foundation Investigation for Lots 1 -24, Lionsridge 5th Filing. 6. Lionsridge Color Palette, Arnold/Gwathmey /Pratt Architects, March 1990. • 7. The subdivision plat for Dauphinais - Moseley Subdivision recorded August 12/20/21 1 8 -3 -34 tr • 23, 1990, July 21, 1998, and February 3, 2006. B. The development standards shall be as follows: 1. Acreage: The total acreage of this site is 10.69 acres or 465,650 square feet. 2. Permitted Uses: The permitted uses for SDD 22 shall be: a. Single family residential dwellings b. Open space c. Public roads d. Employee dwelling units as defined in Section 5, paragraph G of this ordinance. 3. Conditional Uses: • a. Public utility and public service uses b. Public buildings, grounds and facilities c. Public or private schools d. Public park and recreation facilities 4. Accessory Uses: a. Private greenhouses, toolsheds, playhouses, garages or carports, swimming pools, patios, or recreation facilities customarily incidental to single - family uses. b. Home occupations, subject to issuance of a home occupation permit in accordance with the provisions of Section 12 -14 -12 of the Vail Town Code. c. Other uses customarily incidental and accessory to permitted or • conditional uses, and necessary for the operation thereof. 12/2(41 1 8 3 -35 • 5. Setbacks: Minimum setbacks shall be as indicated on the approved site development plan by Intermountain Engineering, dated July 7, 1998. A 4 -foot roof overhang shall be allowed in the front setback for Lots 15 -19, provided the rear setback is increased by 4 feet. A 4 -foot roof overhang shall be allowed in the rear setback of Lots 20 -24, provided the front setback is increased by 4 feet. Roof overhangs shall be allowed to encroach up to 2' feet into the required side setback of 10 feet for each lot. An unenclosed, unroofed, deck or patio within 5 feet of finished grade may encroach into the rear setback by 5 feet for Lots 1 -14 and Lots 20 -24. No other setback encroachments shall be allowed. 6. Density: Approval of this development plan shall permit a total of 23 single - family dwelling units on the entire property. A minimum of 6 employee • dwelling units shall be required. A maximum of 23 employee dwelling units shall be permitted on the entire property. 7. Building Height: For a sloping roof, the height of the building shall not exceed 33 feet. The height calculation shall be made by measuring from the existing grade as indicated on the Intermountain Engineering Topographical Survey dated March 13, 1990 or finished grade. Height shall be calculated per Section 12 -2 -2 of the Vail Town Code. 8. Site Coverage: Not more than 25 percent of the total site area on each lot shall be covered by buildings. "Site coverage" shall mean the ratio of the total building area on a site to the total area of a site, expressed as a percentage. For the purpose of calculating site coverage, "building area" shall mean the total horizontal area of any building as measured from the 1111 exterior face of perimeter building walls or supporting columns above grade or at ground level, whichever is the greater area. Building area shall include 5 12/20/2011 8 3 36 all buildings, carports, porte cocheres, arcades, and covered or roofed walkways. In addition to the above, building area shall also include any portion of roof overhang, eave, or covered stair, covered deck, covered porch, covered terrace or covered patio that extends more than four feet from the exterior face of perimeter building walls or supporting columns. 9. Parking: Parking shall be as required in Title 12, Chapter 10 of the Vail Town Code. Each employee dwelling unit shall be required to have at least one enclosed garage parking space. 10. Design Guidelines: The development of each lot shall be guided by the architectural and landscape design guidelines as approved as part of the Special Development District No. 22. The guidelines are as follows: a. Architectural. The architectural design of the buildings upon the site shall • be such that buildings relate harmoniously to each other. This is not to imply that each building must look exactly similar to those around it, but that compatibility be achieved through the use of scale, materials and colors, and building shape and form. The overriding concern is that, upon completion, the Special Development District, because of the clustered nature of the small single family lots situated around common open space, should appear to be an integrated development possessing a common architectural quality, character, and appearance. To this end the following general design criteria shall be followed by the developer and individual lot owners: b. A palette of colors shall be as set forth in the Lionsridge Color Palette from Arnold/Gwathmey /Pratt dated March 1990. Colors are indicated for • the use on different types of building materials and elements such as stucco colors, siding colors, metal flashing, windows, accent colors, etc. 6 12/20/2011 8 -3 -37 • • The palette of colors indicate a range of acceptable colors in order to encourage similarity on one hand, but also diversity within the acceptable range. c. The following building standards and materials shall be adhered to: (1) Roof. The roof pitch shall be a minimum 8/12 and a maximum of 12/12. A gable, clipped gable or hipped roof shall be mandatory. Dormers shall be allowed and reviewed by the Design Review Board. The roofing material shall be cedar shake shingles with staggered butts. (2) Chimneys. The chimneys shall be stucco with chimney caps of weathered copper. (3) Flues. All flues shall be galvanized or painted sheet metal, painted to match the roof. (4) Main Fascia. The main fascia shall be a solid color stain, with brown, taupe, or gray. (5) Secondary Fascia and Metal Railings above the First Floor. The secondary fascia and metal railings above the first floor shall be a muted accent trim color to be reviewed by the DRB. (6) Walls. Walls shall be of stucco and horizontal or vertical wood siding. Stucco colors shall be gray, beige or off - white. Wood siding colors shall be gray, brown or taupe. (7) Stone. Residences will have a minimum of a two foot high stone wainscot in rainbow mix with a sandstone cap around the perimeter of the structure except under decks where substantially concealed by landscaping. • (8) Windows. Windows located within stucco areas shall have a minimum of two inches of relief from the outside wall plane and have a sandstone sill. 12/20/2011 8 -3 -38 • (9) Outdoor Lighting, Outdoor lighting shall be indirect with a concealed source except for an entry chandelier, two carriage lights and one pilaster light which may be exposed globes with a fixture of black or weathered copper look metal. The maximum number of outdoor lights permitted on each lot shall be 15 regardless of lot size. Outdoor lights which conform with Ordinance #22, Series of 1997, shall be exempt. All exterior lighting shall be reviewed by the DRB. (10) Garages. No garage doors shall directly face the street, except on Lot 24 and Lot 14. (11) A residential address /nameplate if desired by the owner shall be located on the side of the garage facing the access point to the lot. (12) When the individual landscape plans are designed for individual lots, • special care shall be taken in the design of side yard landscaping in order to provide adequate screening between structures. 11. Recreational Amenities Tax: The recreation amenities tax shall be assessed at the rate for a single - family residential zone district. Section 5. Conditions of Approval A. The major amendment to Special Development District No. 22, Grand Traverse, shall not be effective until the major subdivision is recorded by the Town of Vail at the Eagle County Clerk and Recorder's Office. B. The major subdivision shall be recorded at the Eagle County Clerk and Recorder's Office prior to a building permit being released for any construction on Lots 2, 5, 7, 9 or 10. • C. The development of Special Development District No. 22 will have impacts on the available employee housing within the Upper Eagle Valley 12/20 2( 1 1 8 3 -39 • Area. In order to help meet this additional employee housing need, the developer of Special Development District No. 22 shall provide employee housing on site. The following restrictions shall apply to all employee • dwelling units within SDD No. 22: 1. The developer shall build a minimum of six employee dwelling units within the subdivision. Each employee dwelling unit shall have a minimum square footage of 400 square feet not to exceed 800 square feet and is allowed to have a kitchen. The square footage of an employee housing unit shall be measured from the inside face of the walls creating the unit (i.e., not including furring, Sheetrock, plaster, and other similar wall finishes). The number of employee units shall not be counted toward allowable density for 111 Special Development District No. 22. The developer may choose to transfer up to 300 sq. ft. from the primary unit to the employee unit. The developer may provide up to 23 employee dwelling units including the 6 required dwelling units if so desired. 2. The employee dwelling units may be located on any of the lots within the subdivision providing all the development standards are met for each lot. Only one employee dwelling unit shall be allowed per lot with a maximum of 23 units allowed. An employee dwelling shall be incorporated into the structure of the primary residence and shall not be allowed to be separated from the primary unit. Each employee dwelling unit shall have at least one enclosed garage parking space. This parking space shall not be • detached from the single - family garage or structure. Each phase of construction shall include a minimum of one employee dwelling 12/20/A1 1 8 -3 -40 unit until six employee dwelling units are constructed and available fb? rental. 3. The Employee Housing Unit shall be leased to tenants who are full -time employees who work in Eagle County. An EHU shall not be leased for a period less than thirty consecutive days. For the purposes of this section, a full -time employee is one who works an average of thirty hours each week. 4. An EHU may not be sold, transferred, or conveyed separately from any single - family dwelling it may be a part of. 5. The EHU shall not be divided into any form of timeshares, interval ownership, or fractional fee ownership as those terms are defined in the Municipal Code of the Town of Vail. ID 6. No later than February 1 of each year, the owner of each employee housing unit within the town which is constructed following the effective date of this chapter shall submit two copies of a report on a form to be obtained from the Community Development Department, to the Community Development Department of the Town of Vail and Chairman of the Town of Vail Housing Authority setting forth evidence establishing that the employee housing unit has been rented throughout the year, the rental rate, the employer, and that each tenant who resides within the employee housing unit is a full -time employee in Eagle County. 7. The owner of each EHU shall rent the unit at a monthly rental rate consistent with or lower than those market rates prevalent for • similar properties in the Town of Vail. 12/20/91 8 3 -41 • 8. The Town of Vail Housing Authority will determine the market rate based on the study of other units of comparable size, location, quality and amenities throughout the Town. The market rate shall be based on an average of a minimum of five rental rates of comparable units. If the unit is not rented and is not available at the market rate it shall be determined to be in noncompliance. In addition to any other penalties and restrictions provided herein, a unit found to be in noncompliance shall be subject to publication as determined by the Housing Authority. 9. The provisions of these restrictive covenants may be enforced by the Owner and the Town. 10. The conditions, restrictions, stipulations, and agreements • contained herein shall not be waived, abandoned, terminated, or amended except by the written consent of both the Town of Vail and the Owner of the property. D. The architectural and landscape design guidelines shall be incorporated into the subdivision covenants before the final plat is recorded at the Eagle County Clerk and Recorder's Office. The Town Of Vail shall be party to these agreements. Section 6. Amendments Amendments to Special Development District No. 22 shall follow the procedures contained in Section 18.40.100 of the Vail Municipal Code. • 11 12/20/2011 8 -3 -42 • Section 7. Expiration The applicant must begin construction of the Special Development District within 3 years from the time of its final approval, and continue diligently toward completion of the project. If the applicant does not begin and diligently work toward the completion of the Special Development District or any stage of the Special Development District within the time limits imposed by the preceding subsection, the Planning and Environmental Commission shall review the Special Development District. They shall recommend to the Town Council that either the approval of the Special Development District be extended, that the approval of the Special Development District be revoked, or that the Special Development District be amended. Section 8. If any part, section, subsection, sentence, clause or phrase of. this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases by declared invalid. Section 9. The Town Council hereby finds, determines and declares that this Ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and inhabitants thereof. • 12 12/20/2011 8 -3 -43 • Section 10. The repeal or the repeal and reenactment of any provisions of Vail Municipal Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly x re I stated herein. Section 11. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer shall not be • construed to revise any bylaw, order, resolution or ordinance, or part thereof, heretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 6th day of December, 2005 and a public hearing for second reading of this Ordinance set for the 3 day of January, 2006, at 6:00 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. i� v _‘. Rodney E. lifer, Mayor Y Y ;kV ATT , /T: j �� (-0 ' -_ = SEAL orel: I Donaldson, Town Clerk ,, It s9 INTRODUCED, READ, ADOPTED AND ENACTED ON SECOND READING AN • ,,, - - ORDERED PUBLISHED IN FULL this 3 day of January, 20 . ) )) Rodney E. Slifer, Mayor - A ; o�N O , III 4 A .k A, --e- ; • trelei ► onaldson, on Clerk SEAL Cryt..N 12/20/2 8 3 -44 PLANNING AND ENVIRONMENTAL COMMISSION December 12, 2011 12:OOpm TOWN OF TOWN COUNCIL CHAMBERS / PUBLIC WELCOME 75 South Frontage Road West - Vail, Colorado, 81657 Members Present Members Absent Bill Pierce Henry Pratt Luke Cartin Pam Hopkins John Rediker Michael Kurz Tyler Schneidman PEC Holiday Lunch 12:OOpm MAIN AGENDA 1:OOpm 20 minutes 1. A request for a final recommendation to the Vail Town Council for a major amendment to Special Development District No. 22, Grand Traverse, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow the employee housing requirements of the special development district to be met off -site through the provisions of Section 12 -13 -5, Employee Housing Unit Deed Restriction Exchange Program, Vail Town Code; located at 1402 through 1428 Moraine Drive and 1450, 1500, 1550, 1600, 1650, 1700, 1750, 1800, and 1850 Lions Ridge Loop/ Lots 1 through 24, Dauphinais - Moseley Subdivision Filing 1, and setting forth details in regard thereto. (PEC110058) Applicant: William and Pamela Bailey, represented by the Mauriello Planning Group Planner: Bill Gibson ACTION: Recommendation of approval, with modifications MOTION: Kurz SECOND: Hopkins VOTE: 6 -1 -0 (Pratt opposed) CONDITIONS: 1) The Planning and Environmental Commission forwards a recommendation of approval to the Vail Town Council with the modifications outlined in Section II of the Staff's memorandum to the Commission dated December 12, 2011. Bill Gibson gave a presentation per the staff memorandum. Dominic Mauriello, representing the applicants, stated that his clients have initiated this process in order to take advantage of the EHU exchange program. This request does not require a property owner to relocate their EHU, but allows for the opportunity. Any exchange will still have to go through the codified exchange criteria. There was no additional public input. Commissioner Pierce spoke to the initial idea of requiring the EHUs in the development in order to disperse employee housing throughout the town. He asked what has changed since the SDD was adopted to warrant this change? Page 1 12/20[2011 8 -4 -I Nina Timm, Housing Coordinator, spoke to why the EHU exchange program was adopted and recently modified. The exchange of EHUs results in the recording of a newer restriction that requires occupancy. Dominic Mauriello spoke to the condition that existing EHUs are incorporated into other homes, and if they were relocated elsewhere it would eliminate conflicts with the goals of the property owners. The benefit to the Town is that the size of the EHU unit is required to be increased. Commissioner Kurz asked about the striking of language referencing the Design Review Board reviewing dormers. Bill Gibson responded that dormers can not be reviewed administratively through the normal design review process because this language specifically requires the Board's review. The change allows for administrative approval of applications which are in compliance with the Vail Town Code. Commissioner Hopkins spoke to her previous tenure on the Commission and the cycle of boom and bust and the associated need for employee housing. She asked if the exchange program will be detrimental to the Town's future when we are in a boom cycle? Nina Timm responded that the exchange EHUs will have increased occupancy and be increased in size making the units more livable. She added that she did not believe the EHU exchange program negatively positioned the town in the future. Commissioner Pratt inquired about the requirements for an EHU garage in the SDD. He felt a recommendation should be forwarded to Council that includes the replacement of garage square footage with another garage in the new location. Bill Gibson stated that the relocated EHU would not be required to have a garage, but would be required to comply with zoning on the property in which it is located with regard to parking. Commissioner Hopkins raised the point that EHUs typically result in a reduced need cars and garages as alternative methods of transportation are available. Commissioner Kurz stated that he was not in support of requiring garages with an exchange unit in this SDD. Commissioner Pratt believes that if a garage is required now, it should be required for an exchange unit. Commissioner Rediker spoke to the fact that EHUs can be occupied by individuals working within Eagle County and not only Vail, so there could be residents commuting out of Vail for work. Dominic Mauriello hypothesized that when the EHU exchange was adopted it may have been considered that the doubling and tripling of floor area compensates for existing garages. Commissioner Pierce inquired as to how the EHU square footage could be used if exchanged. Bill Gibson stated that the SDD has no GRFA limits, so the existing square footage could be converted any use for the primary home. Page 2 12/201201 8 -4 -2 George Ruther added that both properties being affected by an EHU exchange must comply with zoning and not create a non - conformity. 40 minutes 2. A request for an amendment to an Approved Development Plan, pursuant to Section 12- 61 -11, Development Plan Required, Housing Zone District, Vail Town Code, to allow for the redevelopment of an approximate 5.24 acre portion of the Timber Ridge Village Apartments, with up to 279 new deed - restricted employee housing units; and a request for the review of a variance, from Section 14 -5 -1, Minimum Standards, Parking Lot and Parking Structure Design Standards for All Uses, Vail Town Code, pursuant to Chapter 12 -17, Variances, Vail Town Code, to allow for a crossover drive aisle width of Tess than thirty -feet (30') within the required parking structure, located at 1280 North Frontage Road West/Lots 1 -5, Block C, Lions Ridge Subdivision Filing 1,and setting forth details in regard thereto. (PEC110059) Applicant: Vail Timber Ridge L.L.C. Planner: George Ruther Amendment to the Approved Development Plan: ACTION: Approved with condition(s) MOTION: Kurz SECOND: Cartin VOTE: 7 -0 -0 Variance request: ACTION: Approved with condition(s) MOTION: Kurz SECOND: Cartin VOTE: 7 -0 -0 CONDITIONS: The following conditions apply to the three Timber Ridge redevelopment applications. For purposes of the following conditions of approval, the term "Developer" shall mean Vail Timber Ridge, LLC or its successors, the term "Town" shall mean Town of Vail and the term "Project" shall mean the development plan for the redevelopment of the easternmost portion of Timber Ridge Village Apartments. 1. Any approvals granted by the Town of Vail Planning & Environmental Commission (PEC) shall only be effective upon the approval date of each of the two amendment application requests. Should one of the development applications be denied or fail to be approved, then none of the applications are approved and the proposal is denied in its entirety. 2. The Developer shall submit a detailed snow removal management and operations plan pursuant to Section 12 -10 -5, Construction and Maintenance, Vail Town Code, specifically describing how snow will be accommodated and managed on the site. The plan shall be submitted to the Community Development Department for review and approval prior to the issuance of a building permit for the Project. 3. The Developer shall submit an executed deed restriction for Lot 2, Timber Ridge Subdivision, approved by the Town of Vail, demonstrating compliance with Chapter 12 -61, Housing District, and Chapter 12 -13, Employee Housing, Zoning Regulations of the Town Vail, prior to the issuance of a building permit for the Project. The deed restriction shall be noted on the Final Plat prior to recording the Final Plat with the Eagle County Clerk & Recorder's Office. The deed restriction shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of any Certificate of Occupancy on Lot 2, Timber Ridge Subdivision. 4. The Developer shall submit a construction staging plan to the Town of Vail Community Development Department for review and approval which addresses such matters as materials staging, construction parking plan, construction and occupancy phasing, Page 3 12/20/201 1 8 -4 -3 temporary access, construction schedule, temporary utilities, traffic control, emergency access, etc. The Developer shall demonstrate full compliance with the applicable regulations of the Town of Vail prior to the issuance of a building permit for the Project. 5. The Developer shall record a revocable right of way permit for any and all private property improvements located with the Town of Vail right of way. Said permit shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a building permit for the Project. 6. The Developer shall submit a Shoring and Excavation Plan to the Town of Vail Community Development Department for review and approval, which addresses such matters as excavation phasing, engineered shoring plans, detailed profiles and cross - sections, existing utilities, materials storage, permanent and temporary easements, etc. The Developer shall demonstrate full compliance with the applicable regulations of the Town of Vail prior to the issuance of a building permit for the Project. 7. The Developer shall submit revised plans to the Town of Vail Community Development Department demonstrating compliance with the list of issues identified in the memorandum to George Ruther, Director of Community Development, from Public Works, dated November 30, 2011 and attached for reference (Attachment E). Said plans shall be submitted for review and approval and fully comply with all applicable regulations of the Town of Vail, in conjunction with the submittal of a building permit. George Ruther gave a presentation per the staff memorandum. He discussed the steps which had occurred since the request was last before the Commission. He explained how the HUD process resulted in a reduction of the number of units within the project due to the analysis performed in conjunction with the HUD submittal. He added that while a floor in the building was removed the site plan and circulation remains as previous approved. Commissioner Pratt stated he was not present before in the previous approvals and questioned the minimum size of the EHUs being proposed. Nina Timm explained that the minimum size requirement was included in the regulatory requirement for commercial linkage and this project was not fulfilling any obligation. Commissioner Rediker inquired as to the number of people living in the project based upon multiplying the number of bedrooms. George Ruther spoke to the review process which occurred previously to reduce the required parking. Elements such as a redesigned bus stop, pedestrian, and bike connections were considered in reducing the required parking. Commissioner Rediker does not buy into an improved bus stop getting people to use alternative transportation. How will parking be managed to let tenants know what is available? If there is too little parking it will actually hurt the project. Commissioner Cartin stated that snow storage does not appear to have been addressed since the last hearing. George Ruther stated that snow storage is still being explored and several options are being reviewed. Page 4 12/201201 1 8 -4 -4 George Ruther continued by discussing the crossover drive aisle width variance and the report from the consulting engineer which highlights that there would not be any negative effect on the function of the parking structure caused by the reduction in width. Commissioner Rediker inquired as to the parking consultant's letter addressing the width variance. George Ruther offered his interpretation of the documents referenced in the letter. George Ruther spoke to the plat application which has not been changed since previously approved. Rick Pylman, representing the applicant, gave a power point presentation, highlighting the changes that have been made and the reasons why. George Ruther asked that proposed Condition No. 2 in the memorandum be stricken as a letter from the geologist was received and in the file and the condition was no longer needed. Rick Pylman spoke to how parking will be managed similar to the Middle Creek parking which appears to be working appropriately. He then discussed how snow storage would be removed using a bobcat type device and a truck to haul it away off of Lions Ridge Loop. The reduction of a level of parking has created a situation where the upper parking deck is about 10 feet below the road thus complicating snow removal. Commissioner Kurz inquired as to the use of traction materials on the upper deck of the parking structure? Mark Donaldson stated that he did not believe any traction materials would be used and therefore would not be pushed off the deck. Commissioner Pierce inquired as to the assumptions made in the provided diagram for the crossover drive aisle width and the impact of the depicted compact parking spaces. He asked what the impacts would be to the structure in order to meet the town's requirement. Why can't the parking structure be enlarged to comply? Mark Donaldson stated that multiple spaces would need to be removed if the structure was not physically enlarged. Rick Pylman stated that the enlargement of the structure was not really explored as the parking consultant was so strong in his belief that the structure will function appropriately as proposed. Commissioner Pierce asked why certain spaces couldn't be removed and comply ?. Mark Donaldson spoke to how that might not work easily due to slopes in the garage on the ramps. Commissioner Pierce stated that he was not convinced that enough effort has been invested to try and address the requested variance. Commissioner Kurz stated that he didn't believe a redesign was necessary. Commissioner Pratt believes that parking spaces are going to need to be assigned in the future. Page 5 12/2012011 8 -4 -5 Commissioner Pratt inquired as to the location of landscaping along the south elevation adjacent to the Frontage Road. George Ruther showed the location of landscaping along the Frontage Road elevation. Commissioner Rediker inquired as to what condition number 1 was requiring. George Ruther explained that the condition was making all three applications being discussed today contingent upon the approval of each other. If one application is not approved then the project cannot move forward through the entitlement process. Commissioner Rediker inquired as to the applicability of the conditions. George Ruther stated that the conditions need to apply to all three applications. Commissioner Rediker asked that the finding for the crossover drive aisle width be amended to say no less than 26 feet 10 inches. Commissioner Pratt asked if George Ruther was satisfied with the explanation of the snow removal and if a condition was needed? George Ruther stated that the Code does acknowledges that it takes some time to remove snow and if a certain period of time passes within the parking a violation can be issued to remedy the problem. He believes that the ownership will need the spaces and will create methods and means for removing the snow out of necessity. Commissioner Hopkins inquired as to how many cars are exposed and how the property owner will get the cars to move so that the deck can be plowed. Mark Donaldson spoke to the snow plow operator coming several times in a day period to remove the snow. There are approximately 100 cars on the exposed are of the parking deck. Commissioner Rediker suggested that a condition be added to address snow removal which would reflect the language found in the condition regarding waste removal. Commissioner Pierce suggested that language be added to require that only compact cars be permitted in compact spaces in the management of the parking structure. Amendment of conditions to reflect discussion: Commissioner Kurz made a motion to amend the proposed conditions. Included the deletion of proposed condition no. 2 in the staff memorandum and the amendment of proposed condition no. 3 to reflect the submittal of a snow removal and management plan. Seconded by Commissioner Cartin. Unanimous approval. 20 minutes 3. A request for final review of a final plat, pursuant to Chapter 13 -3, Major Subdivision, Vail Town Code, to allow for a re- subdivision of the Timber Ridge site, located 1280 North Frontage Road /Lots 1 -5, Block C, Lions Ridge Subdivision Filing 1, and setting forth details in regard thereto. (PEC110060) Applicant: Vail Timber Ridge, LLC Planner: George Ruther ACTION: Recommendation of approval MOTION: Kurz SECOND: Cartin VOTE: 7 -0 -0 CONDITIONS: Page 6 t2/20/2o1 1 For purposes of the following conditions of approval, the term "Developer" shall mean Vail Timber Ridge, LLC or its successors, the term "Town" shall mean Town of Vail and the term "Project" shall mean the development plan for the redevelopment of the easternmost portion of Timber Ridge Village Apartments. 1. Any approvals granted by the Town of Vail Planning & Environmental Commission (PEC) shall only be effective upon the approval date of each of the two amendment application requests. Should one of the development applications be denied or fail to be approved, then none of the applications are approved and the proposal is denied in its entirety. 2. The Developer shall submit a detailed snow removal management and operations plan pursuant to Section 12 -10 -5, Construction and Maintenance, Vail Town Code, specifically describing how snow will be accommodated and managed on the site. The plan shall be submitted to the Community Development Department for review and approval prior to the issuance of a building permit for the Project. 3. The Developer shall submit an executed deed restriction for Lot 2, Timber Ridge Subdivision, approved by the Town of Vail, demonstrating compliance with Chapter 12 -61, Housing District, and Chapter 12 -13, Employee Housing, Zoning Regulations of the Town Vail, prior to the issuance of a building permit for the Project. The deed restriction shall be noted on the Final Plat prior to recording the Final Plat with the Eagle County Clerk & Recorder's Office. The deed restriction shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of any Certificate of Occupancy on Lot 2, Timber Ridge Subdivision. 4. The Developer shall submit a construction staging plan to the Town of Vail Community Development Department for review and approval which addresses such matters as materials staging, construction parking plan, construction and occupancy phasing, temporary access, construction schedule, temporary utilities, traffic control, emergency access, etc. The Developer shall demonstrate full compliance with the applicable regulations of the Town of Vail prior to the issuance of a building permit for the Project. 5. The Developer shall record a revocable right of way permit for any and all private property improvements located with the Town of Vail right of way. Said permit shall be recorded with the Eagle County Clerk & Recorder's Office prior to the issuance of a building permit for the Project. 6. The Developer shall submit a Shoring and Excavation Plan to the Town of Vail Community Development Department for review and approval, which addresses such matters as excavation phasing, engineered shoring plans, detailed profiles and cross - sections, existing utilities, materials storage, permanent and temporary easements, etc. The Developer shall demonstrate full compliance with the applicable regulations of the Town of Vail prior to the issuance of a building permit for the Project. 7. The Developer shall submit revised plans to the Town of Vail Community Development Department demonstrating compliance with the list of issues identified in the memorandum to George Ruther, Director of Community Development, from Public Works, dated November 30, 2011 and attached for reference (Attachment E). Said plans shall be submitted for review and approval and fully comply with all applicable regulations of the Town of Vail, in conjunction with the submittal of a building permit. Page 7 12/201201 1 8 -4 -7 This item was discussed in conjunction with the item 2 above. 5 minutes 4. A request for a final recommendation to the Vail Town Council for prescribed regulations amendments to Title 12, Zoning Regulations and Title 14, Development Standards, Vail Town Code, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to provide regulations that will implement sustainable building and planning standards, and setting forth details in regard thereto. (PEC090028) Applicant: Town of Vail Planner: Rachel Dimond/ Kristen Bertuglia ACTION: Table to January 23, 2012 MOTION: Cartin SECOND: Rediker VOTE: 7 -0 -0 5 minutes 5. A request for a recommendation to the Vail Town Council for a prescribed regulations amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to amend Chapter 12 -22, View Corridors, Vail Town Code, to allow for the maintenance of designated view corridors impacted by vegetation, and setting forth details in regard thereto. (PEC110056) Applicant: Town of Vail Planner: Warren Campbell ACTION: Table to January 23, 2012 MOTION: Cartin SECOND: Rediker VOTE: 7 -0 -0 5 minutes 6. A request for findings of fact and a determination of accuracy and completeness, pursuant to Chapter 12 -3, Administration and Enforcement, Vail Town Code, and Article 12 -7B, Commercial Core 1 District, Vail Town Code, for applications for a major exterior alteration, pursuant to Section 12 -7B -7, Major Exterior Alterations or Modifications, Vail Town Code, to allow for the addition of GRFA (Rucksack Building), located at 288 Bridge Street, Unit R -2/ Part of Lots C & D, Block 5A, Vail Village Filing 1, and setting forth details in regard thereto. (PEC110045); and a major exterior alteration, pursuant to Section 12 -7B -7, Major Exterior Alterations or Modifications, Vail Town Code, to allow for additions of enclosed floor area; a variance, pursuant to Chapter 12 -17, Variances, Vail Town Code, from Section 12- 14 -17, Setback from Watercourse, Vail Town Code, to allow for encroachments into the Mill Creek setback and a variance, pursuant to Chapter 12 -17, Variances, Vail Town Code, from Section 12- 7B -15, Site Coverage, Vail Town Code, to allow for additions of enclosed floor area in excess of allowable site coverage, located at 288 Bridge Street, Unit R -1 (Rucksack Building)/ Part of Lots C & D, Block 5A, Vail Village Filing 1, and setting forth details in regard thereto. (PEC110046, PEC110050) Appellant: Bridge Street Building, LLC Planner: Rachel Dimond ACTION: Table to January 9, 2012 MOTION: Cartin SECOND: Schneidman VOTE: 7 -0 -0 5 minutes 7. A request for a work session on a major exterior alteration, pursuant to Section 12 -71 -7, Exterior Alterations or Modifications, Vail Town Code, to allow for the redevelopment of the area known as "Ever Vail" (West Lionshead), with multiple mixed -use structures including but not limited to, multiple - family dwelling units, fractional fee units, accommodation units, employee housing units, office, and commercial /retail uses, located at 862, 923, 934, 953, and 1031 South Frontage Road West, and the South Frontage Road West right -of- way /Unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080064) Applicant: Vail Resorts, represented by Mauriello Planning Group, LLC Planner: Warren Campbell ACTION: Void Page 8 12/20/2011 8 -4 -8 8. Approval of November 28, 2011 minutes MOTION: Cartin SECOND: Kurz VOTE: 7 -0 -0 9. Information Update 10. Adjournment MOTION: Kurz SECOND: Pratt VOTE: 7 -0 -0 The applications and information about the proposals are available for public inspection during regular office hours at the Town of Vail Community Development Department, 75 South Frontage Road. The public is invited to attend the project orientation and the site visits that precede the public hearing in the Town of Vail Community Development Department. Please call (970) 479 -2138 for additional information. Sign language interpretation is available upon request with 24 -hour notification. Please call (970) 479 -2356, Telephone for the Hearing Impaired, for information. Community Development Department Published December 9, 2011, in the Vail Daily. Page 9 12/2012011 8 -4 -9 TEM OF VAIL' VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: Second reading of Ordinance No. 25, Series of 2011, an ordinance amending Chapter 12 -15, Gross Residential Floor Area, Vail Town Code, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, related to the calculation of gross residential floor area (GRFA) when the basement level of a structure includes a garage or employee housing unit (EHU) in the Hillside Residential, Single - Family Residential, Two - Family Residential, Two - Family Primary/Secondary Residential, Residential Cluster, Low Density Multiple - Family, Medium Density Multiple - Family, High Density Multiple - Family, and Housing Districts, and setting forth details in regard thereto. (PEC110043) PRESENTER(S): Bill Gibson, Community Development Department ACTION REQUESTED OF COUNCIL: The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 25, Series of 2011, on second reading. BACKGROUND: On October 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval to the Vail Town Council for amendments to the Vail Town Code to allow the basement, garage, and employee housing unit (EHU) deductions from the gross residential floor area (GRFA) calculations to be applied to the entirety of the lowest level of a residential structure. Currently, the GRFA basement deduction is only applied to those portions of the lowest level not otherwise deducted as a garage or EHU. The purpose of the proposed ordinance is to create consistency and equity in the calculation of GRFA. Without amendment, houses with garages or EHU located on the basement level will continue to be allowed less floor area than houses with the same garage or EHU located on an upper level. On December 6, 2011, the Vail Town Council approved the first reading of Ordinance No. 25, Series of 2011, by a vote of 6 -0 -1 (Donovan opposed). STAFF RECOMMENDATION: The Planning and Environmental Commission recommends approval of Ordinance No. 25, Series of 2011, on second reading. ATTACHMENTS: memorandum Ordinance No. 25, Series of 2011 12/20/2011 TOWN UFO Memorandum TO: Vail Town Council FROM: Community Development Department DATE: December 20, 2011 SUBJECT: Ordinance No. 25, Series of 2011, an ordinance amending Chapter 12 -15, Gross Residential Floor Area, Vail Town Code, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, related to the calculation of gross residential floor (GRFA) when the basement level of a structure includes a garage or employee housing unit (EHU) in the Hillside Residential, Single - Family Residential, Two- Fam ily Residential, Two - Family Primary/Secondary Residential, Residential Cluster, Low Density Multiple - Family, Medium Density Multiple - Family, High Density Multiple - Family, and Housing Districts, and setting forth details in regard thereto. (PEC110043) Applicant: Town of Vail Planner: Bill Gibson SUMMARY Second reading of Ordinance No. 25, Series of 2011, an ordinance amending the gross residential floor area (GRFA) calculation methods in the residential zone districts when the basement level of a structure includes a garage or employee housing unit (EHU). On December 6, 2011, the Vail Town Council approved the first reading of Ordinance No. 25, Series of 2011, by a vote of 6 -0 -1 (Donovan opposed). There have been no changes to this ordinance since the first reading. II. DESCRIPTION OF THE REQUEST The proposed amendments to the Vail Town Code will allow the basement, garage, and employee housing unit (EHU) deductions from the gross residential floor area (GRFA) calculations to be applied to the entirety of the lowest level of a residential structure. Currently, the GRFA basement deduction is only applied to those portions of the lowest level not otherwise deducted as a garage or EHU. The purpose of the proposed ordinance is to create consistency and equity in the calculation of GRFA. Without amendment, houses with garages or EHU located on the 12/20/2011 9 -1 -1 basement level will continue to be allowed less floor area than houses with the same garage or EHU located on an upper level. On October 24, 2011, Planning and Environmental Commission forwarded a recommendation of approval to the Vail Town Council for the proposed amendments by a vote of 6 -1 -0 (Cartin opposed). Commissioner Cartin did not support applying more than one GRFA deduction to the same physical floor area. On December 6, 2011, the Vail Town Council approved the first reading of Ordinance No. 25, Series of 2011, by a vote of 6 -0 -1 (Donovan opposed). III. ACTION REQUESTED OF THE COUNCIL The Vail Town Council shall approve, approve with modifications, or deny Ordinance No. 25, Series of 2011, on second reading. IV. RECOMMENDATION On October 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval to the Vail Town Council for the proposed amendments. Should the Vail Town Council choose to approve this ordinance on second reading; the Planning and Environmental Commission recommends the Council pass the following motion: "The Vail Town Council approves Ordinance No. 25, Series of 2011, an ordinance amending Chapter 12 -15, Gross Residential Floor Area, Vail Town Code, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, related to the calculation of gross residential floor area on the lowest level of a structure that includes a garage or employee housing unit (EHU) in the Hillside Residential, Single- Family Residential, Two - Family Residential, Two - Family Primary /Secondary Residential, Residential Cluster, Low Density Multiple- Family, Medium Density Multiple- Family, High Density Multiple- Family, and Housing Districts, and setting forth details in regard thereto." Should the Vail Town Council choose to approve this ordinance, the Planning and Environmental Commission recommends the Vail Town Council makes the following findings: "Based upon the review of the criteria outlined in Section V of Staff's October 24, 2011, memorandum to the Planning and Environmental Commission, and the evidence and testimony presented, the Vail Town Council finds: 1. That the amendment is consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail comprehensive plan and is compatible with the development objectives of the town; and Town of Vail Page 2 12/20/2011 9 -1 -2 2. That the amendment furthers the general and specific purposes of the zoning regulations; and 3. That the amendment promotes the health, safety, morals, and general welfare of the town and promotes the coordinated and harmonious development of the town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality." VI. ATTACHMENTS A. Ordinance No. 25, Series of 2011 Town of Vail Page 3 12/20/2011 9 -1 -3 ORDINANCE NO. 25 Series of 2011 AN ORDINANCE AMENDING CHAPTER 12 -15, GROSS RESIDENTIAL FLOOR AREA, VAIL TOWN CODE, PURSUANT TO SECTION 12 -3 -7, AMENDMENT, VAIL TOWN CODE, RELATED TO THE CALCULATION OF GROSS RESIDENTIAL FLOOR AREA (GRFA) WHEN THE BASEMENT LEVEL OF A STRUCTURE INCLUDES A GARAGE OR EMPLOYEE HOUSING UNIT (EHU) IN THE HILLSIDE RESIDENTIAL, SINGLE - FAMILY RESIDENTIAL, TWO- FAMILY RESIDENTIAL, AND TWO- FAMILY PRIMARY /SECONDARY RESIDENTIAL, RESIDENTIAL CLUSTER, LOW DENSITY MULTIPLE - FAMILY, MEDIUM DENSITY RESIDENTIAL, HIGH DENSITY MULTIPLE - FAMILY, AND HOUSING DISTRICTS AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town of Vail (the "Town "), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the "Charter"); and, WHEREAS, the members of the Vail Town Council of the Town (the "Council ") have been duly elected and qualified; and, WHEREAS, the purpose of the proposed amendments is to create consistency and equity in the calculation of gross residential floor area between residential dwellings with, and residential dwellings without, garages or employee housing units on the lowest level of the structure; and, WHEREAS, the Planning and Environmental Commission (the "PEC ") of the Town of Vail has held public hearings on the proposed amendments in accordance with the provisions of the Vail Town Code; and, WHEREAS, the Planning and Environmental Commission of the Town of Vail recommended approval of these amendments at its October 24, 2011 public hearing, and has submitted its recommendation to the Vail Town Council; and, WHEREAS, the Council finds that the proposed amendments are consistent with the applicable elements of the adopted goals, objectives and policies outlined in the Vail Comprehensive Plan and are compatible with the development objectives of the Town; and, WHEREAS, the Council finds that the proposed amendments further the general and specific purposes of Title 12, Zoning Regulations, Vail Town Code; and, WHEREAS, the Council finds that the proposed amendments promote the health, safety, morals, and general welfare of the Town and promote the coordinated Ordinance No. 25, Series 2011 Page 1 12/20/2011 9 -2 -I and harmonious development of the Town in a manner that conserves and enhances its natural environment and its established character as a resort and residential community of the highest quality. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. Section 12- 15- 3 -A -1, Definitions Enumerated, Vail Town Code, (in part) is hereby amended as follows (text to be deleted is in strikcthrough, text that is to be added is bold, and sections of text that are not amended have been omitted): a. GRFA shall be calculated by measuring the total square footage of a building as set forth in the definition above. Excluded areas as set forth herein, shall then each be deducted from the total square footage. Section 2. Section 12- 15- 3 -A -1, Definitions Enumerated, Vail Town Code, (in part) is hereby amended as follows (text to be deleted is in ctrikcthrough, text that is to be added is bold, and sections of text that are not amended have been omitted): (6) Basements: On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest leveler exterior wall surface area shall be measured from the finished floor elevation of that level to the underside of the structural floor members of the floor /ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest leveler exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawlspace or attic. Section 3. Section Section 12- 15- 3 -B -1, Definitions Enumerated, Vail Town Code, (in part) is hereby amended as follows (text to be deleted is in ctrikcthrough, text that is to be added is bold, and sections of text that are not amended have been omitted): a. GRFA shall be calculated by measuring the total square footage of a building as set forth in the definition above. Excluded areas as set forth herein, shall then Ordinance No. 25, Series 2011 Page 2 12/20/2011 9 -2 -2 each be deducted from the total square footage. Section 4. Section Section 12- 15- 3 -B -1, Definitions Enumerated, Vail Town Code, (in part) is hereby amended as follows (text to be deleted is in strikethrough, text that is to be added is bold, and sections of text that are not amended have been omitted): (6) Basements: On the lowest level of a structure, the total percentage of all exterior wall surfaces of the structure as a whole (interior party walls are not considered exterior walls for the purposes of this section) that are unexposed and below existing or finished grade, whichever is more restrictive, shall be the percentage of the horizontal area of the lowest level deducted from the GRFA calculations. The percentage deduction calculations shall be rounded to nearest whole percent. The lowest leveler exterior wall surface area shall be measured from the finished floor elevation of that level to the underside of the structural floor members of the floor /ceiling assembly above. For the purposes of these calculations, retaining walls and site walls shall not be considered part of the lowest level& exterior walls. The deduction shall be applied to all horizontal areas on the lowest level of a structure, including garages and employee housing units also deducted from the calculation of GRFA elsewhere in this title; but the deduction does not apply to any crawlspace or attic. Section 5. If any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not effect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 6. The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. Section 7. The amendment of any provision of the Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Ordinance No. 25, Series 2011 Page 3 12/20/2011 9 -2 -3 Section 8. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 6 th day of December, 2011 and a public hearing for second reading of this Ordinance set for the 20 day of December, 2011, at 6:00 P.M. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. Andrew P. Daly, Mayor ATTEST: Lorelei Donaldson, Town Clerk INTRODUCED, READ, ADOPTED AND ENACTED ON SECOND READING AND ORDERED PUBLISHED IN FULL this 20 day of December, 2011. Andrew P. Daly, Mayor ATTEST: Lorelei Donaldson, Town Clerk Ordinance No. 25, Series 2011 Page 4 12/20/2011 9 -2 -4 (0. TEM OF VAIL VAIL TOWN COUNCIL AGENDA MEMO MEETING DATE: December 20, 2011 ITEM /TOPIC: The Community Development Department requests that the folowwing Ever Vail applications be tabled to January 17, 2012. Major Subdivision: A request for a review of a preliminary plan for a major subdivision, pursuant to Chapter 13 -3, Major Subdivision, Vail Town Code, to allow for the creation of two lots for the redevelopment of the properties known as Ever Vail (West Lionshead), located at 862, 923, 934, 953, 1000 and 1031 South Frontage Road West, and the South Frontage Road West right -of- way/unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080062) Rezoning (Ordinance No. 7, Series of 2011): A request for a recommendation to the Vail Town Council for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to allow for a establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision located generally at 862, 923, 934, 953, 1000, and 1031 South Frontage Road, and the South Frontage Road right -of- way /unplatted (a complete legal description is available for inspection at the Town of Vail Community Development Department), and setting forth details in regard thereto. (PEC080061) Special Development District Amendment (Ordinance No. 8, Series of 2011): A request for a recommendation to the Vail Town Council for a major amendment to Special Development District No. 4, Cascade Village, pursuant to Section 12- 9A -10, Amendment Procedures, Vail Town Code, to allow for the removal of Development Area D (Glen Lyon Office Building) from Special Development District No. 4, Cascade Village, and for a zone district boundary amendment, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to include the subject property in the Lionshead Mixed Use 2 District, located at 1000 South Frontage Road West /Lot 54, Glen Lyon Subdivison, and setting forth details in regard thereto. (PEC090036) Title 12, Zoning Regulations, Vail Town Code, Amendment ( Ordinance No. 9, Series of 2011): A request for a final recommendation to the Vail Town Council for prescribed regulation amendments, pursuant to Section 12 -3 -7, Amendment, Vail Town Code, to amend Section 12- 10-19, Core Areas Identified, Vail Town Code, to amend the core area parking maps to include "Ever Vail" (West Lionshead) within the "Commercial Core" designation, and setting forth details in regard thereto. (PEC080065) PRESENTER(S): George Ruther ACTION REQUESTED OF COUNCIL: The Community Development Department requests that the major subdivision and Ordinance Nos. 7, 8, and 9, Series of 2011 be continued to the January 17, 2012 public hearing. 12/20/2011 BACKGROUND: Major Subdivision: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, on the preliminary plan for the major subdivision to establish Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 (Viele and Cartin recused). Rezoning: On January 10, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a zone district boundary amendment to establish Lionshead Mixed Use 2 District zoning on Parcels 1 and 2 of the Ever Vail Subdivision, by a vote of 5 -0 -2 (Viele and Cartin recused). Special Development District Amendment: On January 24, 2011, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a major amendment to Special Development District (SDD) No. 4, Cascade Village, to remove the Glen Lyon Office Building from the SDD in order for it to be incorporated into the Ever Vail Subdivision, by a vote of 4 -0 -2 (Viele and Cartin recused). Title 12, Zoning Regulations, Vail Town Code, Amendment: On January 11, 2010, the Planning and Environmental Commission forwarded a recommendation of approval, with conditions, for a prescribed regulations amendment to Section 12- 10 -19, Core Areas Identified, Vail Town Code, by a vote of 4 -0 -2 (Viele and Cartin recused). STAFF RECOMMENDATION: The Community Development Department requests that the major subdivision and Ordinance Nos. 7, 8, and 9, Series of 2011 be continued to the January 17, 2012 public hearing. 12/20/2011