HomeMy WebLinkAbout1999-15 Approving and Adopting the IGA to Develop a Sixteen Acre Affordable Housing Project Located on the Berry Creek 5th PropertyRESOLUTION NO. 15
SERIES OF 1999
A RESOLUTION APPROVING AND ADOPTING THE TOWN OF VAIL/EAGLE
COUNTY INTERGOVERNMENTAL AGREEMENT TO DEVELOP A SIXTEEN ACRE
AFFORDABLE HOUSING PROJECT LOCATED ON THE BERRY CREEK 5TH
PROPERTY.
WHEREAS, the Town of Vail and Eagle County wish to be equal partners in the
development of affordable housing located on the Berry Creek
5t
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado:
1. The Vail Town Council approves and directs to the Town Manager to execute the
Town of Vail/Eagle County Intergovernmental Agreement to Develop a Sixteen
Acre Affordable Housing Project Located on the Berry Creek
5th Property, as
attached hereto as Exhibit A.
2. This resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 3&day of November,
1999.
Robert E. Ford, Mayor
ATTEST:
onaldson, Town Clerk
C:IRESOLU99.1 5
INTERGOVERNMENTAL AGREEMENT
This Intergovernmental Agreement ("Agreement") is made and entered into thisi6t4 flay
of October, 1999, between EAGLE COUNTY (the "County") and TOWN OF VAIL,
COLORADO ("Town"), collectively referred to as ("Parties").
WHEREAS, the County is the coordinating entity and developer of an affordable housing
project located on the Berry Creek 5th Filing to be used primarily for the benefit of employees in
the Eagle County region ("Project"); and
WHEREAS, the Town wishes to participate in the Project, and is willing to pay fifty
percent (50%) of the development cost of the Project; and
WHEREAS, the Town believes the development would benefit by the County insuring
the housing may be developed in a timely manner; and
WHEREAS, the County and Town have both determined that the provision of housing
for the benefit of local employees is an appropriate, necessary and valid public purpose.
NOW, THEREFORE, in consideration of the terms and conditions of this Agreement, the
sufficiency of which is mutually acknowledged, Parties agree as follows:
1. Contribution of Property.
a. The County shall provide what has been previously identified as Parcel 2,
as described in the IGA entered into with the Eagle County Recreation
Authority and the RE50J School District, for development of the employee
housing project.
2. The Proiect.
The Town and the County shall work together to design the Project to be located
on Parcel 2, and to determine whether the units shall be for sale units, rental units
or some combination of for sale and rental units. The Town and the County shall
likewise in cooperation select the appropriate means for financing, construction,
marketing, and management of the Project. The Town and the County shall each
be entitled to designate the rules for the sale or rental of fifty percent (50%) ofthe
units. These rules shall be consistent with the agreed financing and marketing
plans.
3. Joint Participation of the Affordable Housing Effort. Each party is a co -applicant
in the development of the land.
a. As co -applicants, each party shall co-sign the Eagle County applications
for development review. The County shall serve as the lead agency.
b. Upon approval of the Project and prior to the issuance of building permits,
the County and Town shall provide construction financing for the Project
or shall make interim cash contributions to cover construction costs or
shall make other provisions for the construction financing, such as
requiring the developer to provide it. The funds shall cover all
construction costs and shall be provided by each party on an equal basis.
Costs associated with the construction phase shall include, but not be
limited to, permit and tap fees, excavation, building materials, site work,
landscaping, change orders, labor, etc.
Nothing in this Agreement shall be construed to create a multiple fiscal year obligation,
and all financial commitments contained herein shall be subject to annual appropriation.
IN WITNESS WHEREOF, Parties have caused this Agreement to be executed as of the
day and year first above written.
ATTEST:
2A_ /ion
Clerk to the Bo of
County Commissioners
B
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Johnnette Phillips
Chairman
TOWN OF VAIL
By
Town Manager
STATE OF COLORADO
COUNTY OF EAGLE
ss.
The foregoing Inter overnmental Agreement was acknowledged before me this Zwulay of
October, 1999, blJ., d,a se..1, as Town Manager of the town of Vail, Colorado.
Witness my hand and official seal.
My commission expires
nlrlclberry.iga
otaryblic