HomeMy WebLinkAbout2023-40 A Resolution Approving a Mutual Release of Restrictive Covenant Amended and Restated Development Agreement between the Town of Vail and David and Izabel FlowersResolution No.40, Series of 2023
RESOLUTION NO. 40
SERIES OF 2023
A RESOLUTION APPROVING A MUTUAL RELEASE OF RESTRICTIVE COVENANT
AMENDED AND RESTATED DEVELOPMENT AGREEMENT BETWEEN THE TOWN
OF VAIL AND DAVID AND IZABEL FLOWERS; AND SETTING FORTH DETAILS IN
REGARD THERETO.
WHEREAS, the Town of Vail (the “Town”), in the County of Eagle and State of
Colorado is a home rule municipal corporation duly organized and existing under the
laws of the State of Colorado and the Town Charter (the “Charter”);
WHEREAS, the members of the Town Council of the Town (the “Council”) have
been duly elected and qualified;
WHEREAS, David and Izabel Flowers (the “Releasee”) are the owners of that
certain property (“the Property”) located within the Town of Vail, Eagle County,
Colorado, with a physical address of 1220 Westhaven Lane Unit A, Vail, Colorado
81657;
WHEREAS, a restrictive covenant (“Restrictive Covenant”) was recorded against
the Property for the sole purpose of creating an employee housing unit within the Town
of Vail as provided in Chapter 12-13, Vail Town Code;
WHEREAS, said Restrictive Covenant was recorded against the Property in the
records of the Clerk and Recorder of Eagle County, Colorado on February 24, 2000;
WHEREAS, The Town is the beneficiary of said Restrictive Covenant; and
WHEREAS, Releasee and the Town, pursuant to Section 12-13-5 of the Vail
Town Code, wish to mutually release the Restrictive Covenant in exchange for the
recording of an employee housing deed restriction on Building D, Columbine North
Condominiums, Unit 4 /2773 Kinnikinnick Drive Unit 4, Vail, Colorado 81657 (the
“Proposed EHU”).
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail,
Colorado:
Section 1. The Council hereby approves the Mutual Release of Restrictive
Covenant and authorizes the Town Manager to execute the Mutual Release of
Restrictive Covenant Agreement on behalf of the Town in substantially the same
form as attached hereto as Exhibit A and in a form approved by the Town
Attorney.
Resolution No.40, Series of 2023
Section 2. This Resolution shall take effect immediately upon the recording of
an employee housing deed restriction in a form approved by the Town on the
Proposed EHU.
INTRODUCED, READ, APPROVED AND ADOPTED this 7th day of November,
2023.
Kimberly Langmaid, Mayor
ATTEST:
Stephanie Bibbens, Town Clerk