HomeMy WebLinkAbout1998-02 IGA with ERWSDRESOLUTION N0.2
SERIES OF I998
A RESOLUTION ADOPTING THE INTERGOVERNMENTAL AGREEMEN x' BETWEEN
THE TOWN OF VAIL AND EAGLE RIVER WATER & SANITATION DISTRICT,
WHEREAS, the Town of Vail and Eagle River Water & Sanitation District previously
entered into an Intergovernmental Agreement providing for a partnership to construct affordable
housing within the Town of Vail; and
WHEREAS, that Agreement was based upon the Eagle River Water & Sanitation District
taking the lead as the developer of the project and;
WHEREAS, since that time is has been agreed by the parties that the Town of Vail will
assume the role as the coordinating entity and developer of the proposed multi-unit housing project;
and
WHEREAS, the Town Council provided direction to the Town Manager on December 9,
1997, with its authorization to proceed with executing such an Intergovernmental Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Vail,
Colorado, that:
I . The Town Council hereby adopts the executed Intergovernmental Agreement with
Eagle River Water & Sanitation District as attached hereto as Exhibit A.
2. This resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED 's 6th day , 1998.
Robert E. Ford, Mayor
ATTEST:
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ore i Donaldson, Town Clerk - ~ ~ ~ 1~+
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Resalulion No. 2, Series of 1998
INTERGOVERNMENTAL AGREEMENT
This Intergovernmental Agreement {"Agreement") is made and entered this ~~~~th day of
December, 1997, between EAGLE RIVER WATER & SANITATION DISTRICT ("ERWSD")
and TOWN OF VAIL, COLORADO ("Town"), collectively referred to as "Parties".
WHEREAS, Town is the coordinating entity and developer of a proposed multi-unit
housing project to be used primarily for the benefit of employees in the Eagle County region
Project"); and
WHEREAS, ERWSD wishes to participate in the Project, and is willing to contribute two
parcels of property toward the Project; and
WHEREAS, ERWSD and the Town believe the development would benefit by
maximizing the number of housing units that could be made available; and
WHEREAS, ERWSD and Town have both determined that the provision of housing for
the benefit of Iocal 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:
Contribution of Pronertv.
a. Town shall diligently pursue the acquisition of a parcel of real property
presently owned by USFS, and more particularly described on Exhibit A
which is attached and incorporated by this reference ("Town Property").
This Agreement is expressly contingent upon Town's acquisition of the
Town Property from USFS.
b. ERWSD is presently the owner of 2 parcels of property which are more
particularly described on Exhibit B and shall be contributed to the project.
2. joint Participation and the Affordable Housing Effort. Each parry is a co-applicant
in the development of the Iand, each shall contribute the land held by the ERWSD
and the Town toward the project and shall take title to the forthcoming dwelling
units in accordance to the following general guidelines:
f leveryone~Andy\97_adminlervvsd.nl ]
Exhibit A
a. As co-applicants, each party shall co-sign the Town of Vail applications for
development review (i.e. Special Development District Amendment and
Design Review applications). The Tawn, as the lead agency, will bear all
initial costs associated with the design, planning and development review of
the project.
b. Upon approval of the project and prior to the issuance of building permits,
the ERWSD and Town shall provide construction financing for the project
ar shall make interim cash contributions to cover construction costs or shall
make other provisions far 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 based on the pro-rata share of the square
footage of the floor area of units to be ultimately owned by each party.
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.
c. Upon completion of the project as evidenced by the issuance of Temporary
Certificates of Occupancy, and prior to any individual sales of units, each
party shall dedicate the land each owns to a homeowner's association to be
created during the construction phase of the development.
d. Upon completion of the project and after the establishment of a
homeowner's association, each entity shall take title to its share of units,
which it will then sell or lease to its employees. The units shall be
distributed as follows:
1-- TOV: Six units.
2-- ERWSD: The balance of the development, likely to be 12 units.
3-- If ERWSD does not sell or lease its share of the units to its
employees, the Town may then purchase the balance to sell or lease
to its employees.
4-- Remaining units shall be made available to the general public
through a system similar to the system used to select buyers for the
Vail Commons Development.
e. Each party shall have first right of refusal on any unit resale included in the
initial distribution per paragraphs d-1 and d-2. Each party shall have
second right of refusal on any unit sale not exercised by the other party.
f The ERWSD and Town will establish and implement a maximum cap on
appreciation for resales in order to ensure the long term affordability of the
local employee housing units. All units shall have a deed restriction
fleveryanelAndy197 adminlenvsd.nll
consistent with the restrictions attached as Exhibit C (i.e. "Vail C unans"
deed restrictions.) Such restrictions, in addition to being incluc' ~n each
deed of conveyance, shall be incorporated into the condonuni'
declarations.
Withdraw of Participation. The Town of Vail will issue requests for
proposals frorn which they will select a design team that will also be
responsible for building the project. Once the design team is selected they
will determine cost estimates which will be considered prior-to entering
into a contract with that design team to move forward on the project. Up
to the time of accepting the proposal of the design team, either parry to this
agreement can withdraw from the project and conclude their participation.
Once each parry has reviewed the proposed casts and a contract has been
entered into with a guaranteed maximum price as part of the Design Built
Contract, each party is thereby bound to continue their participation and
can no longer withdraw from the Project.
fleveryonelAndy197_adminlenusd.nl !
WITNESS WHEREOF Parties have caused this Agreement to be executed as of the
day and year first above written.
EAGLE RIVER WATER & SANITATION DISTRICT
Dennis Gelvin, General Manager
ATTEST:
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
The foregoing Intergovernmental Agreement was aclmowledged before me this /CV th
day of ~ cr; ~ ~~ /'~ ; ~ ~~ , 19 i ` i , by Dennis Gelvin, as General Manager of the
Eagle River Water & Sanitation District.
Witness my hand and official seal,
L'y, `'~..
Notary PublisY
r.
My commission expires: ~ ~~G~ ~~ c n ~:
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i,
TO OF VAII.
B ~~`
G
V
Robert W. McLaurin,~'~'own Manager
ATTEST:
Lorelei U?inaldson, Town Clerk
S`1'ATE ~~~' C'OLORADO )
ss.
COUNTY OF EAGLE )
T'he foregoing ~ntergovemmental Agreement was acknowledged before me this • •? ~ ~- `day
of ~ ..• ,.. f_~ : , 14 ` ~' ~ ~ , by Robert W. McLaurin, as Town Manager, of the
Town of Vail, Colorado.
Wirness my hand and official seal.
s i
Notary Public
My corrLrnission expires:
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