HomeMy WebLinkAbout2004-16 Approving the p-3 Development Agreement between Town of Vail and Vail Associate HoldingsRESOLUTION NO. 16
Series of 2004
A RESOLUTION APPROVING THE P-3 DEVELOPMENT AGREEMENT (THE
AGREEMENT") BETWEEN THE TOWN OF VAIL (THE "TOWN") AND VAIL
ASSOCIATES HOLDINGS, LTD., A COLORADO CORPORATION ("VAIL
HOLDINGS"), WHICH AGREEMENT PERTAINS TO THE DEVELOPMENT
AND RESPECTIVE RIGHTS AND RESPONSIBILITIES OF THE TOWN AND
VAIL HOLDINGS IN RELATION TO THE DEVELOPMENT SITE OWNED BY
VAIL HOLDINGS AND CONSISTING OF LOT P-3, VAIL VILLAGE FIFTH
FILING, AND AN ADJACENT VACATED PORTION OF HANSON RANCH
ROAD RIGHT-OF-WAY; AND SETTING FORTH DETAILS IN REGARD
THERETO.
WHEREAS, the Town, acting through its applicable departments and agencies, including
the Town Council, Planning and Environmental Commission, and Design Review Board, has
previously approved a re-zoning to the Town's Parking (P) zone district, issued requisite
conditional use permits, approved development plans and specifications, and approved a major
subdivision plat (the "Plat") recorded March 17, 2004, at Reception No. 871030 (collectively the
Development Plans") in connection with Lot P-3, according to the Plat ("Lot P-3"), and
WHEREAS, the Development Plans implement provisions in furtherance of the
development of a subterranean parking structure to be complemented by ancillary surtace
improvements, together with paved surtace parking, an open space/park area, and other
ancillary or related uses (collectively the "Project") within Lot P-3 and a subterranean portion of
the Hanson Ranch Road right-of-way (the "Vacation Area") vacated by Town Council by
separate ordinance and to be described in the Agreement; 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
Holdings, as the owner of Lot P-3 and now the Vacation Area by virtue of its vacation, 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
Holdings in connection with those matters; 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:
Resolutlon No. 16, Series of 2004
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
terms and provisions as the Town Manager, after consultation with the Town Attorney,
considers 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 AND ADOP~TE~D this 20~~'~daoy of April, 2004.
Rodney E. Slifer, ~
Mayor, Town of Vail
ATTEST;
n
Lorelei naldson, '
Town Clerk, Town of Vail -
7jN~0F. V';a/~
LAS~
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Resolutlon No. 16, Series of 2004 2