HomeMy WebLinkAbout2021-20 A Resolution of the Vail Town Council Approving a First Amendment to the Lot 3 m Middle Creek Development Agreement between the Town of Vail and Triumph Development West, LLC1
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\\FILESERVER2019\REDIRECTED$\SBIBBENS\DESKTOP\RESOLUTION NO. 20 SERIES OF 2021 THE FIRST AMENDMENT
TO THE LOT 3 DEVLEOPMENT AGREEMENT-JMM.DOCX
RESOLUTION NO. 20
SERIES 2021
A RESOLUTION OF THE VAIL TOWN COUNCIL APPROVING A FIRST
AMENDMENT TO THE LOT 3, MIDDLE CREEK DEVELOPMENT
AGREEMENT BETWEEN THE TOWN OF VAIL AND TRIUMPH
DEVELOPMENT WEST, LLC
WHEREAS, on March 2, 2021 the Vail Town Council approved Resolution No. 10,
Series of 2021, a resolution approving the Lot 3, Middle Creek Development Agreement
(the “Development Agreement”) with Triumph Development West LLC for the
development of Lot 3, Middle Creek;
WHEREAS, the Town and Triumph Development West, LLC wish to amend
Section 8(a)(iv) of the Development Agreement to change the deadline therein from May
5, 2021 to June 28, 2021, as set forth in Exhibit A, attached hereto and incorporated
herein by this reference (the “Amendment”);
WHEREAS, the remainder of the Development Agreement shall remain
unchanged and remain in full force and effect; and
WHEREAS, the Town Council finds it in the best interest of the public health,
safety and welfare to approve Resolution No. 20, Series of 2021.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO THAT:
Section 1. The Town Council hereby approves the Amendment in substantially
the same form as attached hereto as Exhibit A, and in a form approved by the Town
attorney, and authorizes the Town Manager to execute the Amendment on behalf of the
Town.
Section 2. This Resolution shall take effect immediately upon its passage.
INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Town
Council of the Town of Vail held this 18th day of May 2021.
_________________________
Dave Chapin, Town Mayor
ATTEST:
_____________________________
Tammy Nagel, Town Clerk
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\\FILESERVER2019\REDIRECTED$\SBIBBENS\DESKTOP\RESOLUTION NO. 20 SERIES OF 2021 THE FIRST AMENDMENT
TO THE LOT 3 DEVLEOPMENT AGREEMENT-JMM.DOCX
EXHIBIT A
FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
(Lot 3, Middle Creek)
THIS FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (the "First Amendment")
is made this ____ day of _______________, 2021 (the "Effective Date"), by and between the
Town of Vail, a Colorado home rule municipality with an address of 75 South Frontage Road, Vail,
CO 81657 (the "Town") and Triumph Development West LLC, a Delaware limited liability
company with an address of 12 Vail Road, Suite 700, Vail, CO 81657 (“Triumph”) (each
individually a "Party" and collectively the "Parties").
WHEREAS, on March 2, 2021, the Parties entered into a Development Agreement
(the "DA") for a project on the real property described as Lot 3, Amended Final Plat Middle
Creek Subdivision, a Resubdivision of Lot 1, County of Eagle, State of Colorado; and
WHEREAS, the Parties wish to amend the DA.
NOW, THEREFORE, for and in consideration of the mutual promises and covenants
contained herein, the sufficiency of which is mutually acknowledged, the Parties agree as follows:
1. The deadline set forth in Section 8.a.iv. of the DA is hereby changed from May 5,
2021 to June 28, 2021.
2. The remainder of the DA shall remain unchanged and in full force and effect.
WHEREFORE, the Parties have executed this First Amendment as of the Effective Date.
TOWN OF VAIL, COLORADO
________________________________
Scott Robson, Town Manager
ATTEST:
_________________________________
Tammy Nagel, Town Clerk
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TO THE LOT 3 DEVLEOPMENT AGREEMENT-JMM.DOCX
TRIUMPH DEVELOPMENT WEST LLC
By:_____________________________
Name:___________________________
Title:____________________________
STATE OF COLORADO )
) ss.
COUNTY OF _____________ )
The foregoing instrument was acknowledged before me this ____ day of ____________,
2021, by _____________________ as _________________________ of Triumph Development
West LLC, a Delaware limited liability company.
My commission expires: __________________
_______________________________
Notary Public