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HomeMy WebLinkAbout2006-10 Approving the Front Door Development Agreement with Vail AssociatesRESOLUTION NO. 10 Series of 2006 A RESOLUTION APPROVING THE FRONT DOOR DEVELOPMENT AGREEMENT (THE "AGREEMENT") BETWEEN THE TOWN OF VAIL THE "TOWN") AND THE VAIL CORPORATION, D/B/A VAIL ASSOCIATES, INC., A COLORADO CORPORATION ("VAIL ASSOCIATES"), WHICH AGREEMENT PERTAINS TO CERTAIN RESPECTIVE RIGHTS AND RESPONSIBILITIES OF THE TOWN AND VAIL ASSOCIATES IN RELATION TO THE FRONT DOOR DEVELOPMENT SITE OWNED BY VAIL ASSOCIATES AND AFFILIATES WHEREAS, the Town, acting through its applicable departments and agencies, including the Planning and Environmental Commission and Design Review Board, has previously approved a development plan and design criteria proposed by Vail Associates for the intended development of the "Front Door" mixed-use real estate development project (the Project"), the site of which is located in the Town of Vail to the south of the Lodge at Vail and the southerly end of Bridge Street and which borders and/or subsumes the Vista Bahn ski yard on the site's east side (the "Front Door Site"); and WHEREAS, the Town, acting through its applicable departments and agencies including the Director of Public Works and the Director of Community Development), and Vail Associates, on its own behalf and on behalf of its applicable affiliates as the owners of the Front Door Site, have negotiated terms and conditions for the Agreement to govern certain matters related to the development of the Project, and the respective rights and responsibilities of the Town and Vail Associates in connection with those matters; and WHEREAS, the Town Council's approval and authorization of the Agreement, and making of the Agreement, will serve to satisfy certain conditions established by the Planning and Environmental Commission as part of its approval of the development plan for the Project; and WHEREAS, the approval of the Agreement is necessary and proper for the health, safety and welfare of the Town and its inhabitants; and WHEREAS, the Agreement complies with all applicable laws and regulations of the State of Colorado and the Town, and the Town has the authority to enter into the Agreement pursuant to such laws. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO as follows: Section 1. The Agreement is hereby approved, and the Town shall enter into the Agreement and perform, observe and discharge its obligations under the Agreement. The Town Manager is hereby authorized and directed to execute and deliver the Agreement, on behalf of the Town, with such Resolution No. IQ, Series 2006 terms and provisions as the Town Manager, after consultation with the Town Attorney, considers to be necessary or appropriate in furtherance of this Resolution. Section 2. The Town Council hereby finds, determines and declares that this Resolution is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. INTRODUCED, READ, APPROVED AN~3-,ADOPTED thi~'6th da of June, r~ 2006. ATTEST: 1 T L,,~elei onaldson, Town Jerk, Town of Vail Resolution No. 10, Series 2006 Farrow Hitt, ~~ Mayor Pro Tem 1~~-....-= F.`~ p W N~ O,o'~, L 9~r :~ SSA L' ai~•oo ~~ 2