HomeMy WebLinkAbout2008-02 an Emergency Ordinance Approving the Sale of Real Property Owned by the Town of Vail, described as Unit 201-A, Altair Vail Inn, also known as 4192 Spruce Way 201-A ORDINANCE NO. 2
Series of 2008
AN EMERGENCY ORDINANCE APPROVING THE SALE OF REAL PROPERTY
OWNED BY THE TOWN OF VAIL, DESCRIBED AS UNIT #201-A, ALTAIR VAIL INN,
ALSO KNOWN AS 4192 SPRUCE WAY #201-A, VAIL, COLORADO 81657; AND
SETTING FORTH DETAILS WITH 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 Town Council of the Town (the "Council") have
been duly elected and qualified; and
WHEREAS, the Council authorized the release of two deed restricted employee
housing units at the Bell Tower building on December 18, 2007; and
WHEREAS, in exchange for the release of the deed restrictions at the Bell Tower
building, Bell Tower, LLC was required to purchase the real property described as
Condominium Unit 201-A, Altair Vail Inn, as defined in the amended and restated
Condominium Declaration recorded at reception number 834747 on May 27, 2003,
County of Eagle, State of Colorado (the "Property") for use as deed restricted employee
housing. More specifically, the Property is required to be sold to a person on the
existing Town Master Resale Lottery List with a price appreciation cap deed restriction
and an initial maximum sales price of $178,650.00; and
WHEREAS, although the Town originally intended Bell Tower, LLC to assign its
interest in the purchase contract to the qualified purchaser, this was unable to be
accomplished due to unforeseen time constraints; and
WHEREAS, on January 3, 2008, the Town purchased the Property for the
purpose of executing and recording the above-referenced deed restriction and to
facilitate the transfer of the Property to a qualified purchaser; and
WHEREAS, the Town is under contract to sell the Property on January 24, 2008,
to said qualified purchaser and, in order meet the closing deadline with the qualified
purchaser, an Emergency Ordinance pursuant to Section 4.11 of the Charter is therefore
required.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO, THAT:
Section 1. The sale of the Property is hereby approved by the Council at the price of
$178,650.00. The Town Manager is hereby authorized to execute, on behalf of the
Town, an agreement to sell the Property and to take whatever steps are necessary to
complete the sale of the Property to meet the Town's contractual obligations.
OrJinance No. 2, Series 2008
Section 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 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 3. Based upon all of the foregoing, the Council finds and declares that there
is reasonable justification for the adoption of this Ordinance as an emergency measure,
that this Ordinance is necessary for the immediate preservation of the public welfare,
and that this Ordinance sha11 therefore take effect immediately upon adoption as
provided by Section 4.11 of the Vail Home Rule Charter.
Section 4. The 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.
INTRODUCED, READ, PASSED, ADOPTED AS AN EMERGENCY MEASURE BY THE
UNANIMOUS VOTE OF COUNCIL MEMBERS PRESENT OR A VOTE OF FIVE (5)
COUNCIL MEMBERS, WHICHEVER IS LESS, AND ORDERED PUBLISHED THIS 22nd
DAY OF January, 2008.
~
Dick Cle nd, Town Ma
AT~TE
~~c Gam" ~
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orel~'f Donaldson, Town Clerk ~
Ordinance No. 2, Series ?008