HomeMy WebLinkAboutP3&J REINVESTMENT PLAN316.DOCP 3 & J REINVESTMENT PLAN
VAIL REINVESTMENT AUTHORITY
FEBRUARY 2004
TABLE OF CONTENTS
I. INTRODUCTION 1
1.1 Preface 1
1.2 Background 1
1.3 Definitions 1
2. LEGISLATIVE FINDINGS 2
2.1 Qualifying Conditions 2
2.2 Projects 2
2.3 Planning Approval 2
2.4 Consultation 2
2.5 Public Hearing 3
2.6 Boundaries of the Plan Area 3
2.7 Other Findings 3
3. DESCRIPTION OF PLAN OBJECTIVES 4
4. PLAN IMPLEMENTATION 4
4.1 Property Acquisition 4
4.2 Relocation Assistance and Payments 4
4.3 Redevelopment Agreements 4
4.4 Interagency Cooperation 5
5. MODIFICATIONS TO THIS PLAN 5
6. TERMINATION 5
P-3 & J REINVESTMENT PLAN
February 2004
INTRODUCTION
Preface
This P-3 & J Reinvestment Plan ("Plan") has been prepared by the Vail Reinvestment Authority ("VRA") for adoption by the Town Council of the Town of Vail pursuant to provisions of the
Urban Renewal Law of the State of Colorado, Article 25 of Title 31, Colorado Revised Statutes. This Plan is prepared and adopted to satisfy the requirements of § 31 25 107, C.R.S.,
that an urban renewal plan be adopted by the governing body of the municipality before an urban renewal authority undertakes an urban renewal project. The administration of this project
and the enforcement and execution of this Plan shall be performed by VRA.
Background
The site is commonly known as Lots P-3 & J is located in the center of Vail Village, proximate to the Vail Village Base Area, across Hanson Ranch Road from the Christiania Lodge. The
lots are owned by Vail Associates Holdings Ltd. (“Vail Associates”), and are currently used for parking. In addition, loading and other service related activities have been performed
on portions of Lots P 3 & J and adjacent public rights-of-way. Loading and delivery at this site creates congestion and at times obstructs traffic. As part of the Vail Front Door Project,
there is a need for the redevelopment of Lots P-3 & J to include a parking structure and public open space. The loading and other service related facilities will be moved to an underground
loading and delivery facility west of the Vista Bahn ski lift. The benefits of the redevelopment of P-3 & J include additional parking facilities in the Vail Village core area without
additional surface parking, public open space on a portion of Lots P-3 & J which will be maintained by Vail Associates or its successors in interest, and the relocation of loading and
other service related activities to locations better designed to handle such traffic, with a corresponding enhancement of pedestrian access adjacent to the site. Certain obsolete restrictive
covenants cloud the title to Lots P-3 & J and prevent financing of the redevelopment as proposed. It is necessary to remove these obsolete restrictive covenants in order for the redevelopment
to proceed.
Definitions
Cooperation Agreement: Any agreement between VRA and the Town of Vail or any other public body regarding action taken pursuant to any of the powers set forth in the Urban Renewal Law,
or in any other provision of Colorado law, for the purpose of facilitating public undertakings deemed necessary or appropriate by VRA under this Plan.
Plan: This P-3 & J Reinvestment Plan as it may be modified from time to time.
Plan Area: The area described in Section 2.6 of this Plan, and depicted on Figure 1, which has been found to be blighted and for which the undertaking of an urban renewal project is
declared to be necessary.
Redevelopment Agreement: An agreement between VRA and a developer or developers respecting the redevelopment or rehabilitation of property within the Plan Area.
LEGISLATIVE FINDINGS
Qualifying Conditions
Based on the P-3 & J Reinvestment Study prepared by URS Corporation, dated February 2004, and evidence presented at the public hearing, the Town Council finds that there exists blight,
as defined by § 31 25 103(2), C.R.S., in the Plan Area.
The P-3 & J Reinvestment Study found that the following blight condition exists in the area: Defective or unusual conditions of title rendering the title unmarketable. Restrictive
covenants controlling uses on the certain properties and other conditions of title impair the redevelopment of key parcels in the Plan Area. In many instances, covenant provisions conflict
with or have been ignored by prior development.
Pursuant to § 31-25-1-3(2)(l), the owner of Lots P-3 & J, Vail Associates has advised the Town Council that it does not object to the designation of blight for the Plan Area based the
presence of one blight condition.
The Town Council finds that the presence of this factor substantially impairs or arrests the sound growth of the Town of Vail, retards the provision of housing accommodations, constitutes
an economic and social liability and is a menace to the public health, safety, morals and welfare of the Town of Vail.
Projects
The Plan Area is appropriate for one or more urban renewal projects and other undertakings of the VRA as authorized by the Urban Renewal Law.
Planning Approval
The Town Council has adopted a general plan for the Town of Vail, known as the Vail Comprehensive Plan. The Planning and Environmental Commission met on February 23, 2004, and has submitted
its written recommendation via a staff memorandum that the P-3 & J Reinvestment Plan is in conformity to the Vail Comprehensive Plan.
Consultation
This Plan has been submitted to the Board of County Commissioners of Eagle County as required by the Urban Renewal Law. The Eagle County School District has been advised of this Plan
and has been given an opportunity to provide comments.
Public Hearing
The Town Council of the Town of Vail has held a public hearing to consider this Plan after public notice thereof in compliance with the Urban Renewal Law in the Vail Daily, describing
the time, date, and purpose of the public hearing, identifying the Plan Area and outlining the general scope of the projects being considered for implementation pursuant to this Plan.
Pursuant to C.R.S. §31-25-107(3), notice of the public hearing was provided to owners, residents, and business owners in the Plan Area at their last known address at least 30 days before
the date of the public hearing.
Boundaries of the Plan Area
The boundaries of the Plan Area shall be as set forth in Figure 1 attached hereto. The Town Council finds that the boundaries of the Plan Area have been drawn as narrowly as feasible
to accomplish the planning and development objectives of this Plan.
Other Findings
The property in the Plan Area is subject to restrictive covenant provisions from previous subdivisions of property in Vail. In many cases, the covenant provisions conflict with one
another and in some cases have been ignored by existing development. These restrictive covenants create an impediment to the redevelopment of the property within the Plan Area, particularly
the financing of improvements which are key to the redevelopment of the Plan Area. VRA is authorized to use the power of eminent domain, with the consultation and concurrence of the
owner of the fee interest to be condemned, to eliminate restrictive covenant provisions and other conditions of title which prevent redevelopment of properties within the Plan Area.
If it becomes necessary for individuals, families or businesses to relocate as a result of the implementation of this Plan, a feasible method exists for the relocation of individuals,
families, and business concerns that may be displaced, insuring that decent, safe and sanitary dwelling accommodations and business locations can be made available.
The powers conferred by the Urban Renewal Law are for public uses and purposes for which public money may be expended and the police powers exercised, and this Plan is in the public
interest and necessity, such finding being a matter of legislative determination by the Town Council.
This Plan will afford maximum opportunity, consistent with the sound needs of the Town as a whole, for the rehabilitation or redevelopment of the Plan Area by private enterprise.
DESCRIPTION OF PLAN OBJECTIVES
This Plan is an important tool to address the problems confronting the Vail Village area. The Plan helps to further the goals for the area previously outlined in the Vail Comprehensive
Plan. The objectives for the Plan include the following:
Create a sense of place and an improved aesthetic character for Vail Village for both residents and guests.
Enhance the aesthetic appearance of the area to make it more appealing.
Improve pedestrian, bicycle, mass transit and auto accessibility and circulation.
Eliminate impediments to the redevelopment of key facilities within the Plan Area.
Upgrade and restore public infrastructure including transportation facilities, parking, sidewalks and streetscapes.
PLAN IMPLEMENTATION
In order to accomplish the objectives of this Plan and to fully implement this Plan, VRA shall be authorized to undertake the following activities:
Property Acquisition
The principal purpose of this Plan is the removal of legal impediments to the creation of public open space and to new private investment occurring on private property. Restrictive
covenants and other conditions of title interfere with new private investment. The power of eminent domain as authorized by the Urban Renewal Law may be utilized as VRA determines necessary
to eliminate and remove restrictive covenants and other conditions of title which interfere with new private investment, with the consent of the owner of any fee interest to be condemned.
Relocation Assistance and Payments
In the event it is necessary to relocate or displace any business or other commercial establishments as a result of any property acquisition, VRA may adopt relocation policies for payment
of relocation expenses. Such expenses may include moving expenses, actual direct losses of property for business concerns, and goodwill and lost profits that are reasonably related
to relocation of the business, resulting from its displacement for which reimbursement or compensation is not otherwise made.
Redevelopment Agreements
VRA is authorized to enter into one or more Redevelopment Agreements with developer(s) and such other entities as are determined by VRA to be necessary or desirable by VRA to carry out
the purposes of this Plan. Such Redevelopment Agreements may contain such terms and provisions as shall be deemed necessary or appropriate by VRA for the purpose of undertaking the
activities contemplated by this Plan or the Urban Renewal Law, and may further provide for such undertakings by VRA, as may be necessary for the achievement of the objectives of this
Plan or as may otherwise be authorized by the Urban Renewal Law.
Interagency Cooperation
VRA may enter into one or more Cooperation Agreements with the Town of Vail or other public bodies pursuant to the Urban Renewal Law. Cooperation Agreements may provide, without limitation,
for financing, for construction of public improvements, for administration, for technical assistance and for other purposes.
MODIFICATIONS TO THIS PLAN
This Plan may be amended or modified pursuant to provision of the Urban Renewal Law as provided in § 31 25 107, C.R.S. Modifications to this Plan will require appropriate notification
in accordance with the Urban Renewal Law, including submission to the Board of County Commissioners of Eagle County and written notice provided to all property owners, residents, and
owners of businesses in the Plan Area not less than 30 days prior to the consideration of a substantial modification.
TERMINATION
This Plan shall terminate and the designation of blight made herein shall terminate upon the elimination of those protective covenants and other conditions of title which impair the
redevelopment in the Plan Area.
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FIGURE 1
MAP OF PLAN AREA
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