HomeMy WebLinkAboutDOCS-471336-v1-P-3 RFP.DOC
Request for Proposals
Vail Reinvestment Authority
Land Purchase of Lot P-3, Vail Village Fifth Filing
Introduction
The Vail Reinvestment Authority (“Authority”) has created an Urban Renewal Area that includes Lot P-3, Vail Village, Fifth Filing, located in Vail Colorado. The purpose behind creating
this area is to facilitate the redevelopment of this land consistent with the Town’s Comprehensive Plan. Vail Holdings is proposing to redevelop the Property as a subterranean parking
garage facility, complemented by paved surface parking and an adjacent open space/park area (the “Project”), and has secured certain of, and is in the process of securing the remainder
of, the various development approvals from the Town that are requisite to undertaking the Project. However, the Property is encumbered by certain use restrictions and other limitations
arising under (i) the Protective Covenants for Vail Village, First Filing, as originally recorded in the real property records for Eagle County, Colorado (the “Records”) on August 10,
1962, in Book 174 at Page 179, and as subsequently amended, and (ii) the Protective Covenants for Vail Village, Fifth Filing, as originally recorded in the Records on November 5, 1965,
in Book 187 at Page 353, and as subsequently amended (collectively, the “Covenants”). The Covenants contain use restrictions and other limiting provisions that may prevent or conflict
with the development of the Project on the Property.
In order to remove the Covenants and accomplish the Project, the Authority is acquiring Lot P-3 for fair value and will convey Lot P-3 to a developer who can construct the Project as
proposed. The conveyance to a developer will be subject to all existing covenant provisions which do not conflict with the Project and subject to an existing parking easement for the
benefit of of the Christiania-at-Vail, Inc.
This Request for Proposals seeks qualified developers who can acquire Lot P-3 from the Authority and who can construct the Project. This Request for Proposals is issued in compliance
with C.R.S. § 31-25-106(2).
2. project Goal:
Facilitate the development of P-3 consistent with the Town of Vail approved development plans which include a park and additional parking at Lot P-3.
3. Scope of Service/Qualification to BiD
The Authority is accepting proposals to purchase Lot P-3 from qualified purchasers. A “Respondent” to this RFP must satisfy the following conditions (the “Qualification Conditions”):
The Respondent (by itself or together with its affiliates) must have first class experience and expertise in developing and operating premier ski resorts and associated hotel/lodging
accommodations and real estate developments in the State of Colorado, and preferably in the Vail Valley.
The Respondent and/or its affiliates maintain significant business ties in the Town of Vail, including an active ongoing business that is not limited to real property ownership, development
and/or management, and owns other development projects or sites within the Town.
The Respondent must commence construction of the Project, as approved for Lot P-3 by the Town of Vail as of April 20, 2004, including any executed development agreements, no later than
May 15, 2005, provided the following events have occurred:
The Town of Vail has provided all necessary regulatory approvals including approval of a building permit;
The Respondent has obtained all necessary approvals from adjacent property owners;
The Respondent has entered into a satisfactory agreement with holders of any easements encumbering the Property.
If the Respondent selected is other than Vail Holdings, then the Respondent, as part of its proposal, must contemporaneously deposit with the Authority an amount in cash not less than
$3,500,000, which the Authority finds to be the fair value of the Property, and which will constitute the required acquisition price under any proposal from any Respondent that the Authority
proposes to accept (the “Purchase Price”). As compensation for its ownership interests in the Property, Vail Holdings, as a Respondent, will receive full credit for such Purchase Price,
and if a proposal from a third party Respondent is accepted, the resulting Purchase Price thus paid by the third party Respondent will be immediately remitted to Vail Holdings by the
Authority upon acceptance of the third party proposal.
4. Proposal Submittal
All submittals should include a letter of transmittal, a complete description of qualifications of the company and individuals proposing to purchase the land using the criteria mentioned
above. Fifteen (15) copies of the submittal should be delivered to the Town based on the schedule in section 5.
All correspondence and questions should be directed to:
Russell Forrest
Director
Vail Reinvestment Authority
75 Frontage Rd
Vail, CO 81657
970-479-2146
email: russell@vail.net
Specific submittal requirements include:
Provide your firm’s bid for the land.
Qualification based on section 3 above.
5. Schedule:
RFP issued: April 16, 2004
Proposal submittal deadline May 4, 2004 (3:00 p.m.)
6. General Conditions
Limitations and Award: This RFP does not commit the Town of Vail to award or contract, nor to pay any costs incurred in the preparation and submission of qualifications in anticipation
of a contract. The Town of Vail reserves the right to accept or reject all or any submittal received as a result of this request, to negotiate with all qualified sources, or to cancel
all or part of the RFP. After a priority listing of the final firms is established, the Town of Vail will negotiate a contract with the first priority firm. If negotiations cannot
be successfully completed with the first priority firm, negotiations will be formally terminated and will be initiated with the second most qualified firm and, likewise, with the remaining
firms.
Selection: Initial evaluation will be based upon the qualifications of the applicant. The Town of Vail reserves the right to not interview, and to make final selection based upon the
qualification statements and cost estimate.
Equal Employment Opportunity: The selected respondant will not discriminate against any employee or applicant for employment because of race, color, religion, sex, or national origin.
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