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I br.,1 t ?5 rcuth lronl,lgc rold Yrll, colondo tI657 (303) 479-2138 or 479-2L39 TO: FROM: DATE: SU&IECI: offlcc of communlty dcvclopmcnl ALL CONTRACTORS ST'RRENTLYL REGISTERED WI$T TITE TOWN OF VAIL TOIIN OF VAIL PUBLIC I{ORKS/COMMIINITY DEVEIJOPMENT l.lARcH 16, 1988 CONSTRUCTION PARKING & MATERTAL STORAGE In sunmaryr -Ordinance No. 6 states that it is unlawful for anyperson to litter, track or deposit any soil , rock, sand, debrisor rnaterial , includlng trash dunpsters, portable toilets and workmen vehicles upon any street, sidewalk, alley or publicp19ge or any portion thereof. The right-of-way on all Town ofVail streets and roads is approxl-urately 5 ft. off pavernent.This ordinance will be stribtly enforcEd by ttre Town of vailpgPli" l{orks Department. Persons found vl-olating thls ordinancewlll. be given a 24 hour written notice to renove-sald naterial .fn the event the person so notifLed does not conply vith thenotice within the- 24 hour tine specified, the pulfLc WorksDepart:nent will renove said naterial at the $q)ense of personnotified. Ttre provlsions of this ordj.nance shall not beapplicable to construction, naintenance or repair proJects ofany street or alley or any utilities in the right-a-way. To review Ordinance No. 6 ln full, please stop by the Town ofVail Building Department to obtain i copy. Thank you for yourcooperatlon on this natter. Read and acknowledged by: (1.e. contractor, owner) Ear| Ft- Pott*- P- E- Structural Englnecr I consultlng L2g7O ll. zoth Avenus. Gloldcn' CO EO,IOI co3-233-oo26 FAx 3O3-23f022 o A ld${ ?too praa t'*,t oo el P vhL Pitdr c4900)ftil ?nl6nw {", Lo9-tF,{t J, SFs-no^J Itu{ ,, 4d douc frin .11*1 n 7A" d, 9*r-, @e tppr hJt - E4f.+ a-?4f,* bdS,* o*+**f , 4,ot e*??, * l'l't l: f{lo }*t - sEl ts'; tf (Jt d)T t1,4'vF too D,iu, - lan rei:t- mre,*Jrlfl -TDv WLi+ k 4q1-^qa tt'C-P ti-ga*-1r'lv^€ a'^ f d'olr O oo -1n*! a4:-Encx{) tr ton -'\c\D cffcine''^'t, f\ ,-,x"r-r=r 0 nn'et f r.rn.t \Y^pPrr'rni Bc,.,-'v\ Ntruo\n 1ar?f \tt /s6 + oo* zr/s /q- JoB NAME L, n"--' PERMIT NUMBER OF PROJECT INSPECTION:MONREADY FOR LOCATION: INSPECTIONTOWN OF REQUEST VAIL CATLER TUES WED THUR FRI PM BUILDING: tr FOOTINGS / STEEL PL tr tr tr D tr tr UMBING: tr FOUNDATION / STEEL UNDERGROUND ROUGH i D.W.V. ROUGH / WATERtr FRAMING - ROOF & SHEER " PLYWooD NAILING GAS PIPING tr INSULATION tr SHEETBOCK POOL / H, TUB NAIL tr tr FINAL ELECTRICAL: tr TEMP. 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JOB NAME CALLER TUES WED THUR i\ READY FOR LOCATION: INSPECTION:MON PM :' FRI BUILDING: tr FOOTINGS / STEEL PLUMBING: tr UNDERGROUND O FOUNDATION / STEE-tr ROUGH / D.W.V. tr ROUGH / WATERD FRAMING n ROOF & SHEER" PLYWOOD NAILING tr GAS PIPING tr INSULATION tr POOL / H. TUB O SHEETROCK NAIL tr FINAL ELECTRICAL: tr TEMP. POWER tr HEATING ROUGH EI CONDUIT tr SUPPLY AIR FINAL tr FINAL 4tir \ . II APPROVED -/\ CORRECTIONS: /tr DISAPPROVED tr REINSPECTION REQUIRED DATE INSPECTOR oz ==E, UJo- tp.r I I I I I I l- t6 Itrtq- ,z I I l., ,Ft<to I I I I lo. t<EIFlaz l=to lotz ot: d.Y'.=6;s?d gbE;E = I c?3: EE E:E E i E:31.' o ff c! 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E =E lrJ o-zIF()fEFazoo 75 south tronlage road vail, colorado 81657 (303) 476-7000 ,lune 11, 1986 offlce of communlty developmenl To All Title Companies deal'ing with Lionshead property. Enclosed is the original public notice of the Lionshead ImprovementDistrict. The list of properties affected by these assessments is complete. However, some of the fees have already been paid, and some have been paid in-part. .Please call the Finance Department each timeyou gle wgrking with exactly the amount outstanding on each property. These assessments began in May, 1985. Si ncere'ly, / -t-- Z ,,1 lM-, fot /c'(-'l Betsy Rosolack Secretary ol =d o o (L): =c o o o. {ooF fo{ 7'to o Jo o =. 8. 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Ur 5 EI: E ;! irrt Ea:tg3t ! cg6t : P . ; i !5 a= _,t I F aaaccgccaTFsceaEc 9 c E UI:l ? 513 "il ry I { 'a38a SEAe & d ggs. s. s, r,r. *,1E::.:::::: < a6 t83aaa8 a i ,i' FIGURE 2 BENEFIT CURVES 60 50 c.oFc) lr- c:t -,^z. 5v F a5 lrj = 20 l0 200 3OO 500 600 7nn rltlti I I t .l \ I t"r* i;a'-. .-.___-i., .f,^'-.- DISTANCE IN FEET I I I I I I I I I I I I I I I I I I 2. The benefit declined with distance, and 3. unlike in Denver, only a slight premium was placed on the mall frontage. Another factor should also be pointed out. Both of the districts in Denver and Boulder were in established commercial districts with geometrically uniform blocks, lots and streets. Thus, in part, the subdivision plots were determining factors in the establishment of the rate at which benefits diminished with distance. This raises trro question: first, over what distance will the benefits created by the Vail LionsHead Urban'Design Guide Plan extend; and second, at what rate will the benefits diminish. In both Denver and Boulder it was determined that benefits would decrease with distance. However, the formulas were different; with the Denver emphasis being placed upon mall frontage, while the Boulder formula reflected the wide area.a pedestrian mall would be expected to impact. In Boulder, the zone values were based upon the normal cumulative distribution curve, a statistically-derived curve which indicates the frequency with which certain phenomenon can be expected to reoccur. Figure 2 provides an illustration of the different emohasis in the two curves. The base data used in Boulder to determine the distance benefits would extend from the pedestrian mall was obtained from a research report* which analysed the distances persons would willingly walk in cities of different sizes and under different circumstances. rhis analysis of a willingness to walk a given distance applies not only to residents, either permanent or transient, but also to day visitors who would park at one of the three peripheral facilities at LionsHead. consequenily, the benefit zone can be expected to reach out to include all those properties the residents of which would have a pedestrian orientation to the vail LionsHead area. Based upon these considerations, it is expected that the *Special Report 25, "Parking Principals", Highway Research Board, 1971, Page 15. I 13 I I I I I I I I I I l I I t benefit district will extend over.the distance of a 2-l/2 minute walk, or approximately 600 feet from the mall. This is approximately the same distance that the benefits were expected to extend in the Boulder and Denver improvement districts. Thus, the two questions posed above have been answered. The benefits of the urban Design Guide Plan can be expected to extend to all those properties which have a pedestrian orientation to the LionsHead pedestrian mall area; but the benefits should decrease with distance. In keeping with the Boulder and Little Rock improvement districts, which represent some of the most recent thinking on the question of the distribution of benefits, the decrease in benefits with distance can be expected to follow the normal distribution curve. Utilizing these criteria, Table 4 has been developed to show the rates at which benefits can be expected to decline with distance within a 600 foot imoact zone. The distance from the major urban Design plan improvements to each Dro- ject or building is shown in Table 4. The construction area is illus- trated in Figure 3 as a shaded area. while there will be street and sidewalk improvements (landscaping and street lights) made outside the shaded area, the major impact will be in the mall proper, a bus shelter at the west Mall Entry and new stairs at the south entrance located south of sunbird Lodge. All buildings fronting on any of the major construc- tion areas identified in Figure 3 have distance factors of'1. In all other cases, the distances have been measured from the nearest point of the Urban Design Plan major improvements to the approximate center of each building(s). The street and sidewalk improvements will, however, enable those projects outside the immediate mall area to benefit more fully from the reconstructed mall. 14 IJJ tr, zIFo-rEl-azooz Jo.zg:a UJoz oErr -tr 't{* \ bEott I I l z JF rd-o-Fz6g6m E6u =72a=(a> EHHd<-trtrDra trK? luul -:CT' E-E eg - =-rJ@ r=ld tl -. l-l.A -.t-- n -ts I .| il il il il il il I I I I t I I I --o -o--Revised 2/83 Code No. Rev i scd TABLT 4 VAI L LI0IISHEAD IMPR0VtMr.llT DISTRICT DISTAIICE BENEFIT FACTORS Distance From Major Improvements (ln Feet) Distance Benefit Factor 01 02 03 04 05 06 07 08 09 10 11 12 13 .At- 15 16 17 t8 19 20 21 22 23'24 1A 26 27 28 29 30 3l 32 762 522 444 390 426 JUO 0 U 180 156 300 276 456 .n 108 258 228 0 0 0 0 0 0 0 0 108 150 270 408 588 96 162 .0000 .0000 .0000 .0000 .0000 .0000 .0000 .0000 Proj ect Vai I Spa The Mark Enzian Lodge Enzian - Building A Enzian - Building B Vai I Glo Concert Hal I Plaza l,lontaneros Lion Square North Lion Square I Lion Square II Lion Square III Ant I ers . Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunbi rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building BVail LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst l.lestwind Auxiliary Bui lding 0.0110 0.0818 0.1388 0. 1936 0. 1556 0 .3078 1 .0000 1.0000 0.5486 0 .6030 0.3174 0.3576 0 . 1286 1 .0000 0.7188 0.3898 0.4472 0.7188 0.6170 0.3682 0. 1738 0.0s00 0.7490 0.5892 tf, laHrry srrirlr & comparry lltl.-* I I I SECTION V ASSESSMENT ANALYSIS o I I l I I I I I I l I I I I I I I All commercial space, regardless of its location, will normally receive greater benefit from the urban Design plan than residential uses because of the higher pedestrian traffic (customers and employees) this use generates- It has also been noted above that g4 percent of the commer- cial space in vail LionsHead is located in buildings fronting on the pedestrian mall area. In addition, the physical inspection of the area reveals that the ground level frontage is primarily commercial space. Therefore' even though the pedestrian mall was not solely designed to facilitate retailing, retail and associated food services are the orinci- pal ground level activities and consequenily will benefit more from the proposed improvements than either above graoe space, or commercial space without direct mall frontaqe. It has been long established in the shopping center industry that those commercial facilities which front directly on a mall benefit more than those facilities which do not have mall frontage. The established ratiofor such benefit is typically quoted at z to t. For example, in a one level shopping center, a department store with a basement and second Ievel would have that space rated at one-half the ground level space in calculating the benefit derived from the mall for the purpose of allocating mall operating cost; that is, mall common area charges. In view of the nature of the vail LionsHead area, and the improvements contemplated under the Urban Design Guide plan, including an expansion of the commercial space fronting on the mall, such a distribution of benefits appears to be justified. Thus, the following table has been prepared to distribute the benefits by use and proximity to the mall. 16 Rev i rr:d 2/83 Rev i sed TABLE 6 VAI L LIOIJSIJ[AD II'IPR()'i Eil[IiT D]STR]CT DISTRlBUTION OF OIII.iEIISH]P AREAS BY LAND USE TYPE UNAD.IUSTED SQUARE FOOTAGE Code N0..c2R 0l 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 '19 20 .21 22 23 L+ 25 ZO 27 Z6 ZY 30 JI 32 Lion Square Lion Square Lion Square Lion Square Antlers Landmark Vai I Spa The Mark Enzian Lodge Enzian - Building A Enzian - Building B Vai i Glo Concert Hal I Plaza Montaneros North TOTAL J, tuJ . zd a thA- r., , av.t v ,6Yt.vu tt,jgo g, qoo 7\1 ?? 777 9,907 1 ,678E nr^ 12,873 1,230 99,362-20 1 19 , 582.00 29 , 186 .00 B, 736 .00 B , 736 .00 9 ,894,00 7 ,967 .28 49,671.00 24,30,l.00 32,540.00 19,086 .00 29 ,067 .00 50,323.00 44,132.00 25 ,060.00 40, 198.00 25,678.00 3'l ,319.00 751.00 65,978.00 30,727 .00 5 ,034.00 18,763.00 41,649.00 30,694.00 17 ,420.00 19,231.00 26 ,716.00 26,179 .00 18,909.00 35 , 267 .00 237.50 III 96,005 93,206 ?4,186 B, 736 8,736 .9, Bg4 46,467 24,301 32,540 19 , 086 29,067 50,323 Jt,J+Z 25,060 40, 198 25,678 22,951 20,820 t rlsse 28,776 17,892 17 ,420 tJ ,4J I lo, / to 24 ,1581q 0nq 35,267 t,l a ar.1 t 26,376.0Annnn 4, 864:0 32,201 .0 | '7f i d 1,680:0 2,021-._0 237 -5 C3 Total Landmark Tolnhouses Vantage Poi nt I Vantage Point II Sunbird Ticket Booth Gondola - Terminal, Lift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vai I LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst West|ind Auxiliary Building 809,863 80,803,7 12,995.28 88, 732 992,393.98 Proj ect (17 ) lnnny sr*ri rli & cor'rpnny lr<1. - (. - .l -kzz- , *,';tZ /o; "7-.-.hZ'; frlRz rr 8/ RECE|VED,..; i lgg3 lnnny smirk & compANy lrd. 261 Hamilton Avenu€, Palo Alto, California 943O1 (415) 328-3701 February 4, 1983 Mr. Dick Ryan Director of Community Development Town of Vai I 75 South Frontage Road Vai l, Colorado 81657 LionsHead Improvement District Economic Benefit Analysis Addendum Dear Mr. Ryan: This letter along with the attached tables and the revised assessment roll reflect the most recent unit size changes which your staff identified this week in their review of the Assessors records which included all of the prcperties in the Assessment District. In addition, I have included the revisions and analysis which relate primarily to the elimination of the west mall entry bus shelter and which were included in the Larry Smith & Company ,Ianuary 1983 Addendum Analysis. Thus, this letter supercedes the January 1983 Addendum. DISTANCE FACTOR CHANGES since the completion of the Economic Benefit Analysis study for the vail LionsHead Improvement District in October 1982, the Town of vail city council decided to eliminate the west mall entry bus shelter from the major construction improvements to be undertaken as part of the vail LionsHead Improvement District. As a consequence of this decision, the assessments of six projects/buildings, whose distance factors were cal- REAL ESTATE CONSULTANTS T MARKET ANALYSTS .URBAN ECONOMISTS culated based on their proximity to the proposed bus shelter, must be revised. The attached revised rable 4 shows the revised distances and benefit factors assuming the west mall entry bus shelter is eliminated. The revisions affect only six projects/buildings which were rneasured from the bus shelter. These are: Vail Spa, The Mark Lodge, Enzian Lodge, Enzian Condos - Building A, Enzian Condos - Building B, and Vail- Glo. The revised distances were measured from the nearest point of the mall improverents to the approximate center of each building. This point of measurement is consistent with the nethodology discussed in the October 1982 Economic Benefit Analysis Study for the Vail LionsHead Improvement District which requires the measurement to be taken from the nearest point of a major project improvement to the approximate center of each project/bui lding. The new measuring point has resulted in increasing the distance for the six projects. In the case of Vail Spa, the distance has increased from 600 to 762 feet, the greatest of any project in the District. Still, however, this project will benefit, even without the Bus Shelter, from the other major improvements, although to a lesser degree than pre- viously. The lower benefit is indicated by the lower distance benefit factor shown in Table 4. For all six projects affected, the formula has been applied consistently and fairly in relation to all other properties in the District. The benefits which will accrue to the individual units from the District improvements exceed the assessment arnunt which is shown in the revised assessment roll. SIZE AND USE REVISIONS The attached revised Table assessed areas by land use in fourteen projects have the assessors records. 1 and Table 4 show the distribution of in square feet. The square footage of units been revised based upon the recent review of lanny smirk & conplny [rd. Also included in the revisions is a shift of a number of residentiar units to Lions square II which were inco'ecily included as being in Lions Square I in the october 1gg2 study. In addition, a number of common area spaces which should not have been assessed were rernoved fromthe Lions Square I assessrpnt list. XY-FACTORS AND TOTAL DISTRICT ASSESSMENT Based on the revised distance factors and square footage, the sum of theY-Factors for ail assessed units has been recarculated to 671,290.40. The total district assessment has been reduced proportionaily from g1 million to 9952,800.80. ASSESSMENT REVISIONS - A new assessment roll has been compiled changes. A summary of these assessments shown in attached revised Table 7. which reflects the above noted by project and type of use is lanny snirh & conpmy lrd. Revised 2/83 Rev i sed TABLE 1 VAIL LIONSHEAD IMPROVEMENT DISTRIBUTION OF OWNERSHIP BY LAND USE TYPE IN SQUARE FOOTAGE D ISTR I CT AREAS Code No. Residential/ Accommodation Commerc i a I Tota I 99 ,362.20 119,582.00 29, 186.00 8 , 736 .00 8 , 736 .00 9 ,894 .00 7,967.28 49,671 .00 24,301 .00 32 ,540 . 00 19,086.00 29,067 .00 50,323.00 44,132.00 25 ,060.00 40, 198.00 25,678.00 31 ,319.00 751.00 65 , 978.00 30,727 .00 5 , 034 .00 18,763.00 41,649.00 30 , 694 .00 17,420.00 19,231 .00 26,716.00 26,179 .00 18,909.00 35 ,267.00 237.50 01 02 03 04 05 06 07 08 09 10 1t 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Proj ect Vai I Spa The Mark Enzian Lodge Enzian - Building A Enzian - Building B Vai I Glo Concert Hal I Plaza Montaneros Lion Square North Lion Square I Lion Square II Lion Square III Antlers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunbi rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vai I LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst t.Jestwind Auxiliary Building 96 ,005 93 ,206 24 ,186 8, 736 8,736 9,894 46,467 24,301 32,540 19,086 29,067 50,323 32,342 25 ,060 40, 198 25,678 22,851 20,820 r r lsse 28,776 17,892 17 ,420 19,231 26,716 24.158 t8,909 35,267 3,357 .20 26,376.00 5 , 000 .00 7,967 .28 ,,roo:oo 1 1 ,790.00 : I,468.00 75 1 .00 65 , 978.00 9 , 907. 00 5,034.00 6,765.00 12,873.00 1 2, 802 .00 2,021.00 237.50 TOTAL 809,863 182,530.98 992,393.99 (5) lmny snrirk & cornplny trd. Revised 2/83 CodeNo. Project VAIL LIONSHEAD DISTANCE Rev i sed TABLE 4 IMPROVEMENT DISTRICT BENEFIT FACTORS Distance From Maior Improvements (In Feet) Distance Benefit Factor 01 02 03 04 05 06 07 08 09 10 11 12 13 14 t5 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Vai I Spa The Mark Enzian Lodge Enzian - Buildino A Enzian - Buildini s Vai I Glo Concert Hall plaza Montaneros Lion Square North Lion Square I Lion Square II Lion Square III Ant I ers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunbi rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Buildino A Treetops - Buildini BVail LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst l.lestwind Auxiliary Building 762 522 444 390 426 306 0 0 180 156 300 276 456 0 108 258 228 0 0 0 0 0 0 0 0 108 150 270 408 588 96 162 0.0110 0.0818 0.1388 0.1936 0 . 1556 0 .3078 1.0000 1.0000 0.5486 0.6030 0.3174 0 .3576 0.1286 1.0000 0.7188 0.3898 0.4472 .0000 .0000 .0000 .0000 1.0000 1.0000 1.0000 1 .0000 0.7188 0.6170 0.3682 0. 1 738 0 .0500 0.7490 0.5892 15 lanny snirk & conpany lrd. Revised 2/83 Rev i sed TABLE 6 VAIL LIONSHEAD IMPROVEMENT DISTRICT DISTRIBUTION OF OWNERSHIP AREAS BY LAND USE TYPE UNADJUSTED SQUARE FOOTAGE Code No. 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 3,357.2 26,376.0 5,000.0 4,864:0 32,201.0 3.356.0 1,711.0 1,680.0 2,021.0 237.5 ? tn? 2a 9,892.00 z,ioq r,jgo a, ioe 751 33,777 g,907 1,678 5,054 12,973 1,230 Total 99,362.20 119,582.00 29, 186.00 8,736.00 8,736.00 9 ,894 .00 7,967 .29 49 ,671 . 00 24,301.00 32 , 540 .00 19,086.00 29,067 .00 50,323.00 44,132.00 25 , 060.00 40 , 198 .00 25,678.00 31,319.00 751.00 65,978.00 30,727 .00 5,034.00 18 , 763 .00 41 , 649.00 30 , 694 .00 17 ,420.00 19,231.00 26,716.00 26,179 .00 18 , 909 .00 35,267.00 237.50 Project Vai I Soa The Mark Enzian Lodge Enzian - Building A Enzian - Building BVaiI Glo Concert Hal I PIaza Montaneros Lion Square North Lion Square I Lion Souare II Lion Square III Ant lers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunb i rd Ticket Booth Gondola - TerminalLift House Lions Pride 96,005 93,206 24,186 8,736 8,736 9,894 46,467 24,301 32,540 19 , 086 29,067 50,323 32,342 25,060 40, lgg 25,679 22,951 20,820 LionsHead Arcade 1,|,998 LionsHead Center 28,776 Vai t 21 11,892 Treetops - Building A 17,420 Treetops - Building B 19,231Vail LionsHead Condos 26,716 Lodge at LionsHead II 24,158 Lodge at LionsHead III 18,909First llestwind 35,267Auxiliary Building c2 c3R TOTAL 809,863 90,903.7 12,995.29 98,732 992,393.98 (17) lanny srrrirk & conpny [rd. Revised 2/83 VAI L PROJECT ASSESSMENT Rev i sed TABLE 7 LIONSHEAD IMPROVEMENT BY USE FOR $1 MILLION DIS TRICT DISTRICT ASSESSMENT* Code No. Project Residential Commerc i a IProJect Per 59.Ft. Project Av./5q.Ft. 01 Vai I Spa $ 1,498.9702 The Mark 10,825.9403 Enzian Lodge 4,766.8904 Enzian - Building A 2,400.5405 Enzian - Building B 1,929.3606 Vai I Glo 4,322.4707 Concert Hall Plaza08 l"lontaneros 65,953.1909 Lion Square North 18,922.2110 Lion Square | 27,850.1111 Lion Square II 8,598.3012 Lion Square III 14,753.4013 Antlers 9,185.2114 Landmark 45,904.9115 Landmark Townhouses 25,567.0816 Vantage Point I 22,240.0717 Vantage Point II 16,298.7318 Sunbird 32,433.7219 Ticket Booth20 Gondola - Terminal21 Lift House 29,551.0622 Lions Pride23 LionsHead Arcade 17,029.4624 LionsHead Center 40,843.3925 Vail 21 25,395.1226 Treetops - Building A 17,772.4427 Treetops - Building B 16,841.4228 Vail LionsHead Condos 13,961.9029 Lodge at LionsHead II 5,959.4230 Lodge at LionsHead III 1,341.9231 First llestwind 37,492.2532 Auxiliary Building *Lump sum if paid in one year; is typically financed over 10 $ o.o2 0.12 0.20 0.27 0.22 0.44 1.42 0.78 0.86 0.45 0.51 0.18 1.42 1.02 0.55 0.63 :o' 1.42 i.qz 1.42 1.42 1.02 0.88 0 .52 0.25 0. 07 I .06 however, as explained years (see Table 8). $ 6s.sz $ o.o23,823.50 0.151,229.20 o_rU 16,888.42 2.12 "'tun.ou : tt 41,835.55 3.55 :: 30,047.78 3.55 2,664 .84 3 .55176,984.88 2.68 35, 153 .90 3.55 1 1 ,908 .40 2 .3720,969.22 3. 1045,678.45 3.55 33,670.65 :.ut 623.18 0.31 :: 248.27 1.05 54'$;16037 in the text, payment T0TAL 5tfE53'978 GRAND TOTAL FOR BOTH USES $952,800.29 (1e) lmny sruirk & conplny lrd. t. I ecoNoMrc BENEFTT ANALYSTs I vAtL LIoNSHEAD I URBAN DESIGN GUIDE PLAN I I I I I I PrePared for I Town of Vail, Colorado I I I I I I I lnnny smirh & comparuy [rd. I l. I I I I I I ECONOMIC BENEFIT AMLYSIS VAIL LIONSHEAD URBAN DESIGN GUIDE PLAN Prepared for Town of Vail, Colorado 0ctober-198F Larry Smith and Companv, Ltd. 261 Hamilton Avenue Palo Alto, California 94301 Coeeeez& I I I I I I I I I I I I -Fozgs I I I I I I I I I I I I I I I I I I I INTRODUCTION SECTION I . SECTION II SECTION III . SECTION IV SECTION V . SECTION VI CONTENTS THE LIONSHEAD IMPROVEMENT DISTRICT LAND USE DISTRIBUTION IHE URBAN DESIGN GUIDE PLAN THE DISTRIBUTION OF BENEFITS ASSESSMENT ANALYSIS COST IMPACT Page 1 3 5 8 10 t6 20 I I I I I I I I I I I I I I I I I I I INTRODUCTION This analysis has been prepared for the Town of vail to determine the benefit to the existing properties in the vail LionsHead area which will result from the implementation of the urban Design Guide plan. under this plan, the existing pedestrian mall area in the vail LionsHead area will be replaced and improved to create a greater attraction to visitors to vail, to improve the connercial aspects of the area and to reduce the potential for the physical deterioration and consequent economic decline of the area. In addition, outlying improvements such as sidewalks, streetlights and landscaping will be constructed to improve the entire visual and esthetic quality of vail LionsHead. while the Urban Design Guide Plan provides for the expansion of certain ground level comnercial facilities, the fulfillment of that part of the plan will depend upon individual investment decisions in the private sector and the commitment of private capital. l.lhile it is expected that such imDrovements will be made' their sizes, timing, and the characteristics cannot be anticipated, and consequently this analysis is limited to a consideration of those parts of the urban Design Guide Plan which fall in the public sector. In reviewing the Urban Design Guide Plan to establish its benefits, no distinction has been made between the public and private land; rather, the plan has been evaluated as a single concept and its total, or overall impact has been established. The conclusions and recornnendations reached in this analysis are based upon a series of investigations including the characteristics of pedestrian malls in other cities. Data have been gathered on over eighty such pedestrian malls either in operation or in the development stage. These include twenty-five malls which have been financed in whole or in part through local improvement districts, or for which irnprovement districts have been proposed. 0f these, the closest parallels to the vail LionsHead area in terms of financing proposals are also those closest by, the malls in Denver and Boulder. However, the functional aspects of malls, and the impacts they have had and can be expected to have on property values is based upon an evaluation of malls throughout I I I I I I I I I I I I I T I I I the United states. The concrusions reached regarding the functioning of these malls constitutes a major factor in determining how the improved pedestrian mall will relate to individual developments and properties in the Vail LionsHead area. while the experience in other cities has been drawn upon as backgroundfor this analysis, due to the prevailing rear property ownership structure in the Town of vair in general, and the LionsHead area inparticular, the assessment methods used elsewhere, and particularly those methods most comnonly employed, do not reflect the manner in which the benefits resulting from the Urban Design Guide plan will be distributed.specifically, most improvement districts are in areas which areprimarily, if not exclusively, commercial; and where there is general uniformity in the sizes and shapes of the individual ownership parcels. In such situations, the most common practice has been to assess on afront footage basis. crearly, such a simpre method wiil not refrect thebenefits in a comprex situation such as prevairs in the LionsHead area. Honever, as discussed in the following analysis, in many cities it has been recognized that properties other than those fronting direcily on themall also benefit from it. This situation appears to be particurarly applicable to the vail LionsHead area and is the concept upon which the determination of benefits is based. t I I I I I I I I I I I I I SECTION I THE LIONSHEAD IMPROVEMENT DISTRICT The principal criteria in establishing a local improvement district is to include all properties which will direcily benefit from the proposed improvements; or conversely, in the case of Vail LionsHead, those properties which would be adversely affected by a deterioration in a major elenent such as the pedestrian mall system. 0ver the years, the pedestrian walkway area at vail LionsHead has physically deteriorated to the point where there are clear dangers to the safety of persons using those areas. The walkways are breaking up, the concrete stairs are crumbling, curbs are brpken, handrails are loose, and outlying areas are poorly lit and have no sidewalks, etc. If this physical deterioration continues, the pedestrian areas will constitute a blight which will adversely affect the operation of not only the commercial establishments fronting on the pedestrian area, but also all those facilities which, by location and name association, are a part of the vail LionsHead area. If the pedestrian areas deteriorate physically to the point where they become unsafe, and consequently gain the reputation of being a place to avoid, the economic values of the properties in the area will decline. To reduce the danger caused by the deterioration of the mall area, a thin layer of asphalt was laid over the mall surface as a temporary solution to the deteriorating condition. The approved urban Design Guide plan is structured not only to remedy the deferred maintenance of the pedestrian areas, but to introduce other improvements as well, which will benefit the properties in the vail LionsHead area. For example, at present, the vail LionsHead area does not attract the same amount of tourist activity as the Vail village area. To correct this situation, the Urban Design Guide plan contains a number of features designed specifically to make the vail LionsHead area more attractive to visitors. Insofar as these imorovements achieve their objectives, all properties in the area will benefit. If vail LionsHead becomes a place to visit while touring or staying at vail, there will be a corresponding increase in commercial activity. such an increase in I I I I I I I I I I I I t I ' ' activity will benefit not only the commercial enterprises, but also the other properties in the area as well. The benefits to be derived from the proposed urban Design plan wiil be most strongly felt by those properties direcily fronting on the pedestrian mall; however, there will be a ripple effect which will extend to all properties which are direcily associated with vail LionsHead area. This total area, as illustrated by Figure 1, is bounded on the south by Gore creek, and on the north by South Frontage Road; and incrudes The Mark and vail spa on the west, and extends to the east to include the Lodge at LionsHead. The area identified in Figure I includes all the properties which can be expected to directly benefit from the improvements contained in the Urban Design Guide Plan, even though the level of benefits throughout the area can be expected to differ. I I I I I I R+:v i :r:d 2/83 Rev i sed TABLE 1 VAIL LIOI,ISIIEAD IMPROVEIJENT DISTRIBUT IOIi OF OI,INERSHIP BY LAND USE TYPE IN SQUARE FOOTAGE DlSTR I CT /TREAS No. 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 l9 20 21 22' 23 24 25 zo 27 28 29 30 31 32 96 ,005 93 ,206 24,186 8,736 8,736 9,894 46,467 24,301 32,540 19,086 29,067 50 ,323 32,342 25,060 40, l gg 25,678 22,851 20,820 11 ,9gB 28,776 17 ,892 17 ,420 19,231 26 ,716 24,158 18.909 35,267 Proj ect Residential/ Accommodat ion Commerc i a I Tota I Vai I Spa The Mark Enzian Lodge Enzian - Building A Enzian - Building B Vai I Glo Concert Hal I Plaza Montaneros Lion Square North Lion.Square I Lion Square II Lion Square III Antlers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunb i rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vai I LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst Westwind Auxiliary Euilding. 3,357 .20 26,376 .00 5 , 000 .00 7,967 .29 3, 204 .00 I 1 ,790:00 8,468.00 751.00 65,978.00 9, 907.00 5 , 034 .00 6 , 765.00 12,873.00 12,802.00 2,021 .00 237. 50 99,362.20 119,582.00 29,186.00 8 , 736 .00 8, 736 .00 9 , 894.00 7 ,967.28 49,671 .00 24,301 .00 32 , 540 .00 19,086.00 29,067 .00 50 ,323 . 00 44,132.00 25 ,060 .00 40,198.00 25 , 678.00 31,319.00 75 I .00 65 , 978.00 30,727.00 5 , 034 .00 18,763.00 41,649.00 30 , 694 .00 17 ,420.00 19,231 .00 26,716.00 26,179 .00 18,909.00 35 ,267.00 237.50 TOTAL 809 ,963 182,530.98 992,393,98 (5) lnnny sruirh & compnny lr<1..-- SECTION II LAND USE DISTRIEUTION As illustrated in Table 1, thirty-two projects/buildings with a total floor area of 952,485.98 square feet have been identified for inclusion in the vail LionsHead improvement district because they will be direcily benefited by the Urban Design Guide plan. By far the largest single category is residential/accommodation units which accounts for about g2 percent of the total floor area. commercial space, including skiing facilities make up the remaining approximately 1g percent. 0f the 32 properties, 1l with a combined floor area of about 331,000 square feet, or 34 percent of the total, are directly contiguous to the walkway system. However, these 11 properties house a total of 146,000 :.- square feet of commercial space, or g4 percent of the total.-1^ add* , tion, these 11 properties contain a total of 1g5,000 square feet of residential condominium units, or 24 percent of the total resident/accom- modation category. The listing in Table l includes the total square footage of assessable space as recorded on the Eagle county Assessor,s Rolls plus the small amount of commercial based space in the vail LionsHead Auxiliary build-ing. 0wnership in common areas is recorded in accordance with the per- centage "assigned" each condominium unit at the time of original sale. In most instances, the p'ercentage of comnion area oh,nership assigned is almost identical to the ratio of the individual condominium unit square footage to the total floor area of all condominiums in the individual project. This applies to commercial units as well as residential units. However, insofar as the assignment of common area ownershio differs from the space area ratios, even though there is, in all likelihood, a ration- ale behind such assignments, the assignments are nevertheless arbitrary. This discrepancy between floor areas and common areas will increase as new space is added to existing structures, unless there is a recorded adjustment. Eecause of these discrepancies, by utilizing a direct square I I footage ratio of the individual units, the most equitable distribution of common area space is achieved. To the extent that the execuf.ion of the Urban Design Guide Plan creates benefits (and/or conversely, arrests a physical decline in the public areas of the Vail LionsHead area), those benefits will flow to the indi- vidual properties; or, more specifically, to the economic units involved, since it is they which generate the total of the economic values in the area. The common areas, including the land up on which the projects sit, are support functions which have no economic value in and of themselves. Vacant land, as an example, might have a market price which reflects its potential contribution to the creation of economic values at that location, but it has no economic value in and of itself. The same is true of the other common areas such as entries and hallways, utilities and utility rooms, driveways, unassigned parking, etc. Thus, the only manner in which benefits can be uniformly and equitably distributed to the recipients of those benefits is on the basis of the economic units involved, and the relationship of those economic units to the source of the benefits. The space allocation in Table 1 is based upon the ownership pattern as identified from the Eagle County Assessor's records. For example, Lions Square II and III are Iisted as residential condominiums; however, a physical inspection reveals that the two projects have been physically joined and are being operated as a accommodation facility. There are also a number of the individual condominium units in the Vail LionsHead area which are either wholly, or primarily operated as commercial ven- tures by their owners. For these reasons, a clear distinction between residential and accommodation facilities cannot be made, and consequently for the purposes of this analysis have been lumped together. In addi- tion, some of the residential units have been converted to commercial use, as has part of the corfinon area in Lions Square II. While such variances between the assessor's records and the physical facilities have been noted, it is the former, the assessor's records, upon which this I t I I I I I I I I 5, I I analysts is based. However, as the assessor's records are brought up tot date, these discrepancies will be eliminated- I I t I I I I I I I I I I I I t I I SECTION III THE URBAN DESIGN GUIDE PLAN }Jhile several central city pedestrian malls have succeeded in manners other than those originally intended, it is not necessarily an "either/ or" situation. A pedestrian mall can be designed with dual objectives in mind: on the one hand, to stimulate retail sales; while on the other hand, to serve as an open area amenity for the benefit of neighborhood non-retail commercial and residential properties. It appears that the intent of the Vail LionsHead plan is to serve both purposes. The improvements scheduled under the Urban Design Guide plan will serve two functions: first, they will correct the physical deterioration due to needed maintenance in the pedestrian walkway area; while secondly, they will bring a new dimension to the pedestrian walkway system through a general. upgrading of the area and the introduction of special amenities. Such a program is not unlike those adopted in other urban centers where pedestrian malls have been develooed. The original pedestrian malls in Kalamazoo, Michigan, and Miami Beach, Florida, as well as most of those which have followed, were designed primarily, if not specifically, to bring to their respective business districts a principal feature of the suburban shopping center, the pedestrian mall, which separates pedestrian and automobile traffic. This was, of course, the original intent of the pedestrian mall at Vail LionsHead; however, even though the original concept anticipated 120,000 square feet of commercial space, the physical plan does not provide retailing activities with a proper environment. In the execution of the concept, emphasis was placed upon other aspects of the pedestrian mall, such as a physical linkage between the residential condominiums and the Vail LionsHead area 's skiing facil ities. Many of the pedestrian malls which were originally planned to bolster retail sales in declining or static areas have subsequenily performed a far different function. There are a number of situations, such as both t t I I il il I I I I I I I I I I I I I Riverside and Burbank in california, where malls designed to stimulate retail facilities failed in that regard, as evidenced by continuing declines in sales and store closings along both malls. In spite of their failures in one respect, these malls have attracted sufficient new private commercial and public inveitments to be considered successful. In fact, the mall in Riverside has expanded from 3 to 4 blocks in soite of the decline in retail activity. Thus, a welr designed mall can be expected to provide a public amenity which will be a focal ooint of activity in the same manner as a park or other urban green area. The urban Design Guide plan for the Vail LionsHead area is a further step down the road to making the pedestrian area more ,,shopper" oriented, as well as providing a more aesthetic environment for persons visiting the area, either while touring or while residing in vail. Even though empha- sis is placed upon the central pedestrian mall, in conjunction with the upgrading of the area as set forth in the urban Design Guide plan, better linkages between the mall area and other parts of the LionsHead area will be provided through expanded and improved pedestrian walks which will serve The Mark' vail spa, vail Glo, Antlers, Lodge at LionsHead, and the north day lot and pedestrian bridge. with these improvements the areawill be more tightly tied together so that the benefits resulting from the Urban Design Guide plan will be more broadly spread out. l I I I I I I I SECTION IV THE DISTRIBUTION OF BENEFITS The principal reason cities across the country have developed pedestrian malls in established business districts has been to preserve the retailing community. l,,lost of the cities involved are small and have a typical "main street" retail complex; and where assessment districts have been established to finance these malls, the districts are usually, but not exclusively, limited to the properties fronting on the mall. 0F 26 cities with malls of this type, and for which information on established assessment districts are available as a determination of benefit,lT 0f the assessment formulas are on either a front foot or a per square foot basis. However, there is a growing awareness that, on the one hand, a pedestrian mall is not necessarily a panacea for the problems of older retail districts; while on the other hand, that pedestrian malls also provide benefits to other types of land uses. As already noted, both Riverside and Eurbank, California, developed pedestrian malls to prop up their declining central business district retail strips. However, the declines in sales persisted and retail has become unimportant in both mall areas but has been replaced with other urban uses attracted to the locations by the amenity of the pedestrian malls' green areas. In a break from this pattern, and in recognition that the benefits of a pedestrian mall extend over a broader district than the frontage parcels only, a number of cities throughout the United States have adopted programs under which the total geograhic area beneficially impacted is identified, and the distribution of benefits within that area determined. such programs have been undertaken or have been proposed in the cities of Itlemphis, Tennessee; Minneapolis, Minnesota; Madison, Wisconsin; Ithaca, New York; Little Rock, Arkansas; Helena, fr4ontana; and in Denver and Boulder, colorado. since state law is an important factor in determining hotv the districts will be established (as well as local ordinances), attention is directed to Denver and Boulder. t I I I I t I I I 10 The initial proposal for Denver's 16th street Mall, recently completed, was a benefit district which would have extended 5g0 feet in depth on either side of the 16th street Mall. This district included the first full block in depth, which was in turn divided into four 100-foot deeo benefit zones, plus the first 100 feet in depth (four standard lots) of those blocks one street removed from 16th street. Thus, five benefit zones were designated and identified by the letters A through E. For each of these zones, the benefit was determined and converted to a per- centage of the total benefit as illustrated in Table 2. In reviewing Table 2 it should be noted that there is an g0 foot street right of way between zones "D" and ,,E". TABLE 2 DENVER 16TH STREET MALL PROPOSED SCHEDULE OF BENEFITS A B r D E (Distance in Feet) Di stance From l4a I I 0-100 100 - 200 200 - 300 300 - 400 480 - 580 Benef i t Zone Percent of Benefit 45.0% 20.0% 15.0% 12.5% 7.5% 11 I I I I I with reference to Table 2, the three important factors to be noted are:1. The benefit was determined to extend for a distance of 5g0 feet,2. The benefit declined with distance, and 3. The Denver benefit district places a premium on mall frontage, an approach consistent with the earlier ,,shopping mall', concepr. while the proposal for the financing of the 16th street Mall through an assessment district was worked out in detail, alternative funding sources were found and the mall, which was recenily completed, was g0% financed from Federal urban Mass Transit Administration Funds, and 20 percent I I financed from the colorado Highway Department and the Denver Regional Transportation District. since alternative financing was found, the proposed assessment district was dropped. However, in Boulder, a benefit district was also proposed and has been adopted. The analysis in Boulder led to the establishment of a benefit district extending two blocks in all directions from the 4-block long mall, or to a depth of 680 feet on either side of the Pearl street Mall, and 760 feet at each end. Thus, in recognition of the total benefits of the mall to all properties within the impact area, rather than just the frontage parcels, the benefit district in Boulder was structured as a frame around the proposed mall. This benefit district was then divided into nine zones with the weighted benefits as illustrated in Table 3. As in Denver, the Boulder benefit district also contains an 80 foot street right of way between zones 4 and 6 in the side blocks, and two 20 foot alleys between zones 2 and 3 and zones 7 and 8. TABLE 3 BOULDER PEARL STREET II1ALL SCHEDULE OF BENEFITS I I I I I I Benef it Zone t 2 4 .5 6 7 8 9 Again, attention is 1. The benefit was 680 to 760 feet, Distance in Feetffi 0-70 70 - 140 160 - 230 230 - 300 NA 380 - 450 450 - 520 540 - 610 610 - 680 Benef it Factor 50 47 34 28 20 13 8 4 I 80 - 180 180 - 280 280 - 380 380 = 460 460 - 560 560 - 660 660 - 760 directed to three points: determined to extend for a distance ranging from I l 12 50 FIGURE 2 BENEFIT CURVES 300 40 EoF(J !- c!, -'^ F- 3trl = 20 l0 500 t I I .a \ !l "*j 'r?r;.- .-._.1.1 -;..:;.;. DISTANCE IN FEET I I I I I I I I I I I I I I I I I I I 2. The benefit declined with distance, and 3. Unlike in Denver, only a slight premium was placed on the mall frontage. Another factor should also be Dointed out. Both of the districts in Denver and Boulder were in established commercial districts with geometrically uniform blocks, lots and streets. Thus, in part, the subdivision plots were determining factors in the establishment of the rate at which benefits diminished with distance. This raises two question: first, over what distance will the benefits created by the Vail LionsHead Urban Design Guide PIan extend; and second, at what rate will the benefits diminish. In both Denver and Boulder it was determined that benefits would decrease with distance. However, the formulas were different; with the Denver emphasis being placed upon mall frontage, while the Boulder formula reflected the wide area .a pedestrian mal I would be expected to impact. In Boulder, the zone values were based upon the normal cumulative distribution curve, a statistically-derived curve which indicates the frequency with which certain phenomenon can be expected to reoccur. Figure 2 provides an illustration of the different emohasis in the two curves. The base data used in Boulder to determine the distance benefits would extend from the pedestrian mall was obtained from a research report* which analysed the distances persons would willingly walk in cities of different sizes and under different circumstances. This analysis of a willingness to walk a given distance applies not only to residents, either permanent or transient, but also to day visitors who would park at one of the three peripheral facilities at LionsHead. Consequently, the benefit zone can be expected to reach out to include all those properties the residents of which would have a pedestrian orientation to the Vail LionsHead area. Based upon these considerations, it is expected that the *Special Report 25, "Parking Principals", Highway Research Board, 197,|, Page 15. 13 l I I I I I I I I t I I t I t I t benefit district will extend over'the distance of a 2-1/z minute walk, or approximately 600 feet from the mall. This is approximately the same distance that the benefits were expected to extend in the Boulder and Denver irnprovement districts. Thus, the two questions posed above have been answered. The benefits of the Urban Design Guide Plan can be expected to extend to all those properties which have a pedestrian orientation to the LionsHead pedestrian mall area; but the benefits should decrease with distance. In keeping with the Boulder and Little Rock improvement districts, which represent some of the most recent thinking on the question of the distribution of benefits, the decrease in benefits with distance can be exp'ected to follow the normal distribution curve. Utilizing these criteria, Table 4 has been developed to show the rates at which benefits can be expected to decline with distance within a 600 foot impact zone. The distance from the major urban Design plan improvements to each pro- ject o.r building is shown in Table 4. The construction area is illus- trated in Figure 3 as a shaded area. While there will be street and sidewalk improvements (landscaping and street lights) made outside the shaded area, the major impact will be in the mall proper, a bus shelter at the west Mall Entry and new stairs at the south entrance located south of sunbird Lodge. All buildings fronting on any of the major construc- tion areas identified in Figure 3 have distance factors of 1. In all other cases, the distances have been measured from the nearest point of the urban Design PIan major improvements to the approximate center of each building(s). The street and sidewalk improvements will, however, enable those projects outside the immediate mall area to benefit more fully from the reconstructed mall. I t 14 li -ff'I r i ,-*) '- * cr.lo').iCf-.l-v IJIG z 9Fo -EFtnzooz Jo.zg; U' IIJoz oE - tr =:: \\ I il I z JG z fttr'\\:/ tr L:I zs t99l In.a'L=.= =r-/ fAr[:l UJq-FE:I @zfAr\7 J -J s i|F ntHFilf8 ilE rrfr NEHd<il"3 $JIEzil9r3 I I I I I ,Reyised 2/83 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 zo 27 z6 29 30 31 32 VAIL LIOIISHEAD D I STAi,ICE Rev i serJ TABLT 4 IMPROVE14[i'IT DISTRICT BENEFIT FACTORS Proj ect Distance From ltlajor Improvements (ln Feet) 762 5tt 444 390 426 306 U 0 180 156 300 276 456 0 108 258 228 0 0 0 0 0 0 0 0 108 150 270 408 588 96 IOt Distance Benefit Factor Vai I Spa The Mark Enzian Lodge Enzian - Building Enzian - Building A B 0.0110 0.0818 0.1388 0.1936 0. 15s6 0.3078 1 .0000 1.0000 0.5486 0 .6030 0.3174 0.3576 0 . 1286 1.0000 0.7188 0.3898 0.4472 Vai I Glo Concert Hall Plaza l4ontaneros .Lion Square North Lion Souare I Lion Square II Lion Square III Antlers .Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunb i rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building BVail LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst l.lestwind Auxiliary Building .0000 .0000 .0000 .0000 .0000 .0000 .0000 1.0000 0.7188 0.6170 0.3682 0.1738 0.0500 0.7490 0.5892 15 [,trrry snrirk & compnrry Ir.],-- l. I I I I I I I I I I I I I I I I I t SECTION V ASSESSMENT ANALYSIS All commercial space, regardless of its location, will normally receive greater benefit from the Urban Design plan than residential uses because of the higher pedestrian traffic (customers and employees) this use generates. It has also been noted above that g4 percent of the commer- cial space in vail LionsHead is located in buildings fronting on the pedestrian mall area. In addition, the physical inspection of the area reveals that the ground level frontage is primarily commercial space. Therefore, even though the pedestrian mall was not solely designed to facilitate retailing, retail and associated food services are the princi- pal ground level activities and consequently will benefit more from the proposed i.mprovements than either above graoe space, or commercial space without direct mall frontaqe. It has been Iong established in the shopping center industry that those com{nercial facilities which front direcily on a mall benefit more than those facilities which do not have mall frontage. The established ratio for such benefit is typically quoted at z to 1. For example, in a one level shopping center, a department store with a basement and secon<l level would have that space rated at one-half the ground level space in calculating the benefit derived from the mall for the purpose of allocating mall operating cost; that is, malr conmon area charges. In view of the nature of the Vail LionsHead area, and the improvements contemplated under the urban Design Guide plan, including an expansion of the corrnercial space fronting on the mall, such a distribution of benefits appears to be justified. Thus, the following table has been prepared to distribute the benefits by use and proximity to the mall. 16 I tlev i scd 2/83 Vai I Spa The Mark Enzian Lodge Enzian - Building Enzian - Bui lding TOTAL Rev i sed TABLE 6 VAIL LIt)IiSIITAD II4PRO'iEI.i[NT DISTRICT DISTR ] BUT ]ON OF OUI,][ RSH I P AREAS BY LAND USE TYPE UNADJUSTED SOUARI FOCTAGE R C1 .C2 n? Tnf: I 01 02 03 04 05 06i7 08 09 10 11 12 13 14 15 to ,'l 18 19 20 .tl 22 2? 24 25 26 27 28 29 30 31 A R 96,005 93,206 24,186 B, 736 8,736 9,894 46,467 24,301 32,540 19 , 086 29,067 50,323 32,342 25,060 40 , 198 25,678 22,851 20,820 r rlsgs 28,776 17 QO? 17 ,4201q 2?1 26 ,716 24,158 1B , 909 '1 1E'f .) 26,376.0Ennnn 4,864:0 32,201 .O J, J3O . U 1 ,711 .0 1,680.0 2,021-.0 237.5 J, tuJ . to- 3,204 9 ,892 . 00 99,362.20 1 19, 582.00 29 , 186 .00 B, 736 .00 B, 736 .00 9,894.00 7 ,967 .28 49,671 .00 24,301.00 32 , 540 .00 19,086.00 29 ,067 .00 50 ,323.00 44,132.00 25 ,060.00 40 , 198.00 25 ,678.00 31 ,319.00 751.00 65,978.00 30,727 .00 5,034.00 18, 763 .00 41,649.00 30,694.00 17 ,420.00 19,231.00 26 ,716 .00 26,179 .00 18 ,909.00 35 , 267 .00 237.50 Vai I Glo Concert HalI Plaza Monta nero s Lion Square North Lion Square I Lion Square II Lion Square III Ant I ers Landmark Landmark Tolnhouses Vantage Poi nt I Vantage Point II Sunbi rd Ticket Booth Gondola - Terminal. Lift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vail LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst l,,lestwind Auxi I iary Bui lding tt,i_go a,ioa 751 33,777 9,907 1F,1A F AEA 12,873 1 ,230 809,863 80,803.7 12,995.28 88,732 992,393.98 (17 ) lnnuy snrirlr & comprny lr<1. .- t I I I I I I I I I I I I I I I I I I TABLE 5 VAIL LIONSHEAD IMPROVEMENT DISTRICT USE FACTORS Symbol R c1 c2 c3 not on mal I 1/2 floor + mall mal I frontage As shown by the table, commercial space not fronting on the mall has an estimated benefit 25 percent greater than residential space. Further, commercial space directly fronting on the mall has a benefit twice that of other cormercial space (1 .25 x z = 2.5). A special category has been included which recognizes the unique situations of some of the commercial space in the vail 21 building and concert Hall plaza. In the vail 21 project, there is only one commercial space fronting directly on the mall with some space either one-half floor above or below the mall yet still visible and accessible to it. Likewise the Concert Hall Plaza commercial space does not front directly on the mall yet is highly visible and accessible to these major improvements. Table 6 shows the amount of space (in square feet) in each of the four categories described in Table 5 for each of the projects identified in Table 1. The square footage shown is the unadjusted square footage and therefore the total equals that of rable l. However in the actual calcu- lations, the factors shown in Table 5 will be multiplied by the square footage in each classification. The preceding discussion, in sections I through IV, as well as in the preceding paragraphs, indicates that the benefits to be derived from the execution of the urban Design Guide plan are direcily related to the relative gross floor areas of the individual properties in the assessment district, adjusted for distance, class of property use type, and mall frontage. Use Residential Commercial - Commercial - Commercial - Factor 1.000 1.250 frontage 1.875 2.500 17 I I I I I I I I I I The distance factor, "D" in the formula, is also reported for each t property in Table 4. For the Antlers, which is being used in this example, D = .1286. Finally, the U factor developed in Table 5 is applied which is 1.0 since the property is residential. Thus, for the Anilers project, the',y,, factor is calculated as follows: Y=PxDxU Y=50,323x.1286x1.000 \ = 6471.5378 With all of these factors in mind, the assessment of any specific property (Ap), based upon the distribution of benefits, is calculated as fol lows: AP=Y xA rT Where: A = total assessment, and Y=PxDxU Where: P = SQuaf€ footage of individual propertieS, D = distance factor andU=usefactor. In the formula rrPrr is the square foot area of each ownership unit taken from the assessor's records. At Antlers, for example, the most common unit is a 685 square foot condominium. Thus, in this example, for an individual condominium P would equal 685, and for the entire project p equals 50,323 (see Table 1). I I I I I I I I 18 -'i --- - ltt,ttrrorl ) 191J 1' \).J vAir. PROJECT ASSESSi.i[IIT Rev i sed TAB|l,. 7 L IOI{SIIEAD IIlPROY Tiii.NT BY USt FOR $1 t4il LICu DISTRiCT DISTRICT A!:tS:i1r.irT'. Code llo. Project 01 Vai I Spa02 The Mark03 Enzian Lodge04 Enzian - Building A05 Enzian - Building B06 \'ai I Glo07 Concert Hall Plaza08 l,lontaneros09 Lion Square North10 Lion Square I11 Lion Square II12 Lion Square III13 Antlers14 Landmark15 Landmark Townhouses16 Vantage Point I17 Vantage Point II18 Sunbird19 Ticket Booth20 Gondola - Terminal21 Lift House22 Lions Pride23 LionsHead Arcade24 LionsHead Center25 Vai I 2126 Treetops - Building A27 Treetops - Building B28 Vail LionslJead Condos29 Lodge at LionsHead II30 Lodge at LionsHead III31 Fi rst liestrvi nd32 Auxi I iary Bui lding Residential CrrnrmercialProject Pcr Sq. Ff.Pro ji.ct Av. /5q. Ft. $ 1,498.97 10,825.94 4,766.99 2,400 .54 1 ,929.36 4,322.47 65,953.19 18,922.21' 27,850.11 I , 598. 30 14,753.40 9,185.21 45,904.91 25,567.08 22,240.07 to,tY6.tJ 32,433.72 29 ,55 1 .06 $ 0.02 0.12 0.20 0.27 0.22 0.44 1.42 0.78 u.bo 0 .45n ql 0.18 1.42 t.uz 0.55 0.63 :-o' :^^t.4z $ 65.52 3 ,823 . 50 1 ,2?9.20 rc,e88.42 1 1 ,369.05 $ 0.02n 16 :'u 2.12 :.uu *Lump sum if paid in one year;is typically financed over l0 .FF.:rx.-..'.x7|--.f''c)) rv, oJy.4u however, as exDlained years (see Table B). 41,835.s5 :.UU 30,047.78 5.SS 2,664 .84 3. s5 176,984.88 2.6835,153.90 3.55 .t .t ^n6 , /r| | , yuo ..tu 4.Jt20,969.22 3. 1045,678.45 3.55 33 ,670.65 2.63 ozs. ra :.r, 248.27 1.05 $rrJ76r3-f in the text, payment 17,029,46 40,843.39 25,395.12 17,772.44 16,841 .42 13,961.90 5,959 .42 1,341 .92 37,492.25 .42 -4t 4/ .02 0.88 0.52 0.2s 0. 07 1 .06 TOTAL GRAND TOTAL FOR BOTH USES $952 , 800. 29 (1e) l,rrn:y rrr:irh & corr4r;rny lr.'l. AgainusingAntlersasanexample,withatotalof50'323squarefeetof floor area in condominium ownership, the assessment on each square foot' based on $1 million district assessment, would be $0'1825' and the assessment on the typical Antlers 685 square foot condominium would be $125.03. This is calculated as follows: As indicated above, the individual ProPertY is: formula for calculating the assessment of an xAAP=Y rY Where: Y = 704,543.73 (the sum of for each of the individual units). the Y factors calculated by computer Thus, for Antlers; I x $'l mil lion = $9,185.43 which when divided by 50,323 square feet equals $0'1825' These calculations have been made for each unit and are contained in a separate computer printout. Table 7 summarizes the total and per square foot assessment by proiect for each use. However, since each unit assessment has been rounded to the nearest cent, the project totals shown in Table 7, which equal the sum of the project's unit assessments' might not precisely equal the project assessment as calculated by the above formula. For instance, the sum of the Antlers unit assessments is ten cents less, at $9,185.33, than calculated above'I I I I I I 19 I I l I I I I I I I I I I SECTION VI COST IMPACT As shown in Table 7, the total assessment for the Antlers if paid in a lump sum would be $9,185.33 or about 18 cents per square foot. For a typical 685 square foot condominium unit, the total assessment would be $125.03. However, it is most likely that the proposed improvements will be initially financed and the cost of the principal and interest payments assessed over a period of time. Table 8 shows the annual Antlers assess- ment by total project, typical 685 square foot unit, and per square foot, assuming the $1 million District improvements are financed over 10 years at 13.5% interest per annum with level principal payments. Under these financing assumptions, the annual assessment for the typical 685 square foot unit would decline from $29.38 in the first year to $14.19 in the tenth and final year. Likewise the per square foot assessment would decline from about 4 cents in the first year to approximately 2 cents in the tenth and final year. The maximum lump sum assessment for any project as shown in Table 7 would be $3.55 per square foot. This is for ground floor commercial space which fronts on the mall. The annual assessment cost using the same financing assumptions as noted above would cost about 83 cents the first year declining to 40 cents in the tenth year. Table 9 illustrates the overall implications of a 83 cent cost. 20 ANNUAL 13.5 PERCENT TABLE 8 ASSESSMENT ASSUMING 1O YEAR FINANCING AT PER ANNUM WITH LEVEL PRINCIPAL PAYMENTS FOR THE ANTLERS PROJECT 1,. I I I t I il Year 1 2 ? 4 5 6 7 8 9 10 Total Project $ 2,158.57 2,034.57 1,910.56 I ,786.56 1,662.56 | , 538.56 | , 414 .56 I ,290.55 1,,|66.54 1,042.54 685 Sq. Ft. Condo Unit $ n.38 27.69 26.00 24.32 22.63 20.94 19.25 17.56 15.88 14.19 $ 5.00 30.00 35.00 65.00 $ 100.00 Per Square Foot $ 0.0429 0.0404 0.0380 0.0355 0.0330 0.0306 0.0281 0 .0256 0.0232 0.0207 21 il tl T I I I I t I I I I TABLE 9 PER SQUARE FOOT RETAIL SALES INCREASE REQUIREMENT TO OFFSET $0.83 PER SQUARE FOOT ANNUAL CHARGE Current Conditions Net Profit Special Assessment Charge 0perating Expenses Gross t[argin Plus Cost of Goods Sold Gross Sales With Special Assessment Charge $ 5.oo .6J 30.14 35.97 66.76 $ 102.73 In the first column of Table 9, it is assumed that this typical retail establishment would currently be generating gl00 per square foot in sales, with a 5 percent net profit factor. In the second column, it is assumed that an improvement district assessment of one million dollars would be financed and that this typical store would be in the maximum benefit category. Thus, for demonstration purposes, the 83 cenrs per square foot maximum annual assessment charge is indicated as a separate I I I I I I I I I I I I I I I I I I I expense item. In addition, general operating expenses would increase by only 14 cents per square foot, or the cost of financing the larger inventory required; that is, an extra 92.00 per foot in sales under an assumed merchandise turnover factor of three. Thus, under this demon- stration, total sales would only have to increase in the first year under 3 percent to cover the annual assessment charge. In other words, any increase in sales in excess of 3 percent in the first year or, converse- ly, any expenditure which would lessen the deterioration of the area and thus reduce an erosion in sales due to the potential deterioration of the vail LionsHead area, would indicate that the benefit from the proposed improvements under the Urban Design Guide plan exceed the cost. It should also be kept in mind that, under the assumed financing plan, the assessment will decline about 6 percent every year during the ten years. And, therefore, the sales increase, on average, would need to be even less to cover the cost of the assessment. The illustration in Table 9 assumes an owner occupied store. In the event the commercial space were rented, and that the landlord would not have taken the precaution in his lease to be able to pass through the cost of the assessment to the tenant, at a 6 percent rental factor the tenant's volume would have to increase by $13.83 per square foot in the first year and $6.67 per square foot in the tenth year to pass through sufficient income to offset the landlord's increased cost due to the assessment. At 8 percent of the increase in volume, the increase in sales volume the first year would have to be $10.38 per square foot; at 10 percent, $8.30 per square foot; etc. similar analyses can be made for other land use types in the area. Again referring to Table 7, the maximum assessment for a residential property would be $1.42 per square foot on one million dollars of total assess- ment; or, again assuming ten year level principal payments financed at 13.5 percent, 33 cents per square foot, the first year declining to 16 cents in the 10 years. using these data as a base, and assuming a 1,000 square foot condominium unit, the annual charge would be about $330 thefirst year; or, assuming a 60 percent utilization factor, g,|.51 per day 22 l,'., . i I I I I I I I I I I I I I I I I I of occupancy. If it is assumed that this condominium unit r,lould be owner occupied, or otherwise not on the rental market, the same ,l,000 square foot unit would have to have a value benefit of only 92,640, utilizing an I times income factor, or substantially less than 2 percent of the typi- cal condominium value for the benefit to equal the cost. In summary, the increase in sales volume in a retail store needed to offset the annual assessment charge is minimal in terms of the benefits which can be expected. similarly, an increase in rental room occupancy or daily rates is also minimal; as is the increase in market value of owner-occupied dwelling units. Again, the spread which must be considered is not merely a potential increase in value over the current base, but rather the differences between the relative value of the property in the event there are no improvements and the walkway system continues to deteriorate, opposed to the relative values under the assumption the urban Design Guide plan is fully executed. clearly, the benefits which can be anticipated from the improvements proposed under the urban Design Guide Plan can be expected to be far greater than the cost of bringing those benefits into existence. Since there are no comparable situations to the LionsHead pedestrian mall and its proposed upgrading under the Urban Design Guide plan, a determination of the benefits to be realized, when expressed as an increase in commercial activity, cannot be made on the basis of direct comparisons. However, the renovation of shopping centers, which usually includes restructuring the tenant mix, has produced some outstanding increases in sales. For example, Stanford Shopping Center, which underwent renovation in 1978, had a real sales increase (that is, adjusted for inflation) of 25 percent between 1977 and 1979; an increase which took place in the face of a significant increase in competition. l,lhile the renovation or revitalization of a planned shopping center can be expected to result in significant increases in sales, as already noted above, there is no consistency in the results of creating a central city 23 f . j I I I I I I I I I I I I I I I I I I mall. l,levertheless, the results in Boulder indicate the impact a well conceived mall can have. construction of the Boulder Downtown Mall began in June 1976 and extended into mid-1977. A comparison of retail sales in the Mall area in 1975, the last pre-mall year, to 1978, the first post-mall full year, indicates a 69 percent real gain, that is, adjusted for inflation. During the same period, the real sales gain in the entire city of goulder was 46 percent. Thus' over this period, the Mall area outperformed the city as a whole by 23 percentage points. This is essentially the same percentage increase experienced at stanford shopping center as a result of its renovation program and is consistent with the general experience of the shopping center industry. In addition to increases in retail sales in excess of the the development of the Boulder Downtown lvlall resulted in as well. A namative description of these is provided by statement prepared by the planning Department of the City PRIVATE IMPROVEMENTS There are-gpproximately 62 individual store fronts within the four blocksof the Mall. During the l5-month period prior to April 1976, when finil-decision on the conitruction of thb Narr ioor piicJi ineie were 9 storefronts that were rehabilitated or restored. since Apiii igzo, tnere nauebeen 23 additional store fronts rehabilitated or restored. or tnese, - - there were 11 major rehabilitations, and these included severat iioietront's from which the 1950's aluminium facades were removed- some of the changes of use that have occumed within the downtown are asrollows: a run-down hotel/roominghouse has been converted into a firstclass office_space; a one-story niilding, rormerly nousing a shoe repairshop and coffee shop, has been- replaced-by a majoi addiii6n to a bankrnar rs noused in an historic landmark; and a second floor warehousespace has been converted to office use. city average, other benefits the fol lowing of Boulder. 24 it ! I fl I I I n il tl il I I I I I I I I I 't .aa A unique feature of the Mall has been the creation of a orivatedevelopment zone. within the 10 feet of right-of-way adjacent to thestore fronts, the owner or tenant may develop a variilty 6f uses whichinclude a basement stairway, a sidewalk cafe, a buildiirg front extensionon the first or second floor, or landscaping. To date ihree property owners have constructed basement stairwells-in order to conveit basement :pace, originally used for storage, into prime commercial space thatfronts on the Mall and has display windows. The tenants are varied andinclude a sports shop, restaurant, art gallery and shirt shop. There arefour restaurants that have used the i0 feet f6r sidewalk cafbs, whicn in-Boulderrs fair weather have.become prime locations. The city ieases thespace at an annual rate of 93.50 per square foot. The city also leasesout locations for vending carts and advertising space on tire postingkiosks. The revenue is used to offset the cosi oi maintaininb tne Ftall. since the decision to construct a Mall was made, there has been renewedinterest by many stores to locate in the downtown area. some of the newstores include five restaurants, a jazz club, an ice cream parlor, acrafts. shop, numerous offices and several jewelry stores ani Seani shops.There has also occurred major expansions oy tnre6 banks, construction of a. parking garage with combined retail/offite/restaurant building, and forthe conversion of a landmark hotel into residential units. From-the period from April 1976 through August 1977, there were a totalof 21 bqilding permits issued for projects-costing more than $to,ooo -- each.. This compares-with the previoui t5 montn period when 12 permitswere.issued. .Also, from April 1976 through August 1977, there were 33pgllil: issued for projects costing more ihan $t,ooo eain. This compareswith the previous 15-month period when 20 permits were issued. This'represents a 65 percent increase in the issuance of building permits. The building_perimits were issued for a total cost of 93,050,000. oF thistotal, $2,190,000 or 71 percent L,as for new construction, ano $960,000;;29 percent, was for rehabilitation. In 1975 the assessei vatuition inthe downtown commercial district was approximately 5.2 million dollars.At the present ratio of 30 percent of market value, this would indicate ll'tgt lng real property has a market value of approximately $t2,000,000.This indicates that during the period of mall constructioir tne marketvalue of real property within the downtown increased by approximately lgpercent. 25 l- \ I t, I I I I I I I I I I I I I I I I ECONOMIC BENEFIT ANALYSIS VAIL LIONSHEAD URBAN DESIGN GUIDE PLAN prepared for Town of Vail, Golorado lnnny smirk & compnrry [rd. Nut/J ?Ad< kADeD I I I I I I I t I I I I I I I I I I I ECONOMIC BENEFIT ANALYSIS VAIL LIONSHEAD URBAN DESIGN GUIDE PLAN Prepared for Town of Vai I, Colorado October-t98'? Larry Smith and Company, Ltd. 261 Hamilton Avenue Palo Alto, California 94301 I I I I CONTENTS INTRODUCTION SECTION I . TTIE LIONSHEAD IMPROVEMENT DISTRICT SECTION II . LAND USE DISTRIBUTION SECTION III . T}IE URBAN DESIGN GUIDE PLAN SECTION IV - T}IE DISTRIBUTION OF BENEFITS SECTION V . ASSESSMENTANALYSIS SECTION VI . COST IMPACT I I I I I I I I I I I I I I I Page t 3 5 I t0 t6 20 I I I I I I I I I I I I I I I I I I I I NTRODUCTI ON This analysis has been prepared for the Town of Vail to determine the benefit to the existing properties in the vail LionsHead area which will result from the implementation of the Urban Design Guide plan. Under this plan, the existing pedestrian mall area in the vail LionsHead area will be replaced and improved to create a greater attraction to visitors to vail, to improve the commercial aspects of the area and to reduce the potential for the physical deterioration and consequent economic decline of the area. In addition, outlying improvements such as sidewalks, streetlights and landscaping will be constructed to improve the entire visual and esthetic quality of vail LionsHead. while the urban Design Guide Plan provides for the expansion of certain ground level commercial facilities, the fulfillment of that part of the plan will depend upon individual investment decisions in the private sector and the commitment of private capital. l.lhile it is expected that such improvements will be made, their sizes, timing, and the characteristics cannot be anticipated, and consequently this analysis is limited to a consideration of those parts 0f the urban Design Guide Plan which fall in the public sector. In reviewing the Urban Design Guide Plan to establish its benefits, no distinction has been made between the public and private land; rather, the plan has been evaluated as a single concept and its total, or overall impact has been established. The conclusions and recommendations reached in this analysis are based upon a series of investigations including the characteristics of pedestrian malls in other cities. Data have been gathered on over eighty such pedestrian malls either in operation or in the development st,age. These include twenty-five malls which have been financed in whole or in part through local improvement districts, or for which improvement districts have been proposed. 0f these, the closest parallels to the Vail LionsHead area in terms of financing proposals are also those closest by, the malls in Denver and Roulder. However, the functional aspects of malls, and the impacts they have had and can be expected to have on property values is based upon an evaluation of malls throughout I I I I I I I I I I I I I I I t T the united states. The conclusions reached regarding the functioning of these malls constitutes a major factor in determining how the improved pedestrian mall will relate to individual developments and properties in the Vail LionsHead area. |.lhile the experience in other cities has been drawn upon as backgroundfor this analysis, due to the prevailing real property ownership structure in the Town of Vail in general, and the LionsHead area inparticular, the assessment methods used elsewhere, and particularly those methods most commonly employed, do not reflect the manner in which the benefits resulting from the urban Design Guide plan will be distributed.specifically, most improvement districts are in areas which areprimarily, if not exclusively, commercial; and where there is general uniformity in the sizes and shapes of the individuar ownership parcels. In such situations, the most common practice has been to assess on afront footage basis. clearry, such a simple method wilr not reflect thebenefits in a complex situation such as prevairs in the LionsHead area. However, as discussed in the foilowing anarysis, in many cities it has been recognized that properties other than those fronting direcily on themall also benefit from it- This situation appears to be particurarly applicable to the vail LionsHead area and is the concept upon which thedetermination of benefits is based. t I I I I I I I I I I I I SECTION I THE LIONSHEAD IMPROVEMENT DISTRICT The principal criteria in establishing a local improvement district is to include all properties which will directly benefit from the proposed improvements; or conversely, in the case of Vail LionsHead, those properties which would be adversely affected by a deterioration in a major element such as the pedestrian mall system. 0ver the years, the pedestrian walkway area at vail LionsHead has physically deteriorated to the point where there are clear dangers to the safety of persons using those areas. The walkways are breaking up, the concrete stairs are crumbling, curbs are broken, handrails are loose, and ouilying areas are poorly lit and have no sidewalks, etc. If this physical deterioration continues, the pedestrian areas will constitute a blight which will adversely affect the operation of not only the commercial establishments fronting on the pedestrian area, but also all those facilities which, by location and name association, are a part of the vail LionsHead area. If the pedestrian areas deteriorate physically to the point where they become unsafe, and consequently gain the reputation of being a place to avoid, the economic values of the properties in the area will decline. To reduce the danger caused by the deterioration of the mall area, a thin Iayer of asphalt was laid over the mall surface as a temDorary solution to the deteriorating condition. The approved urban Design Guide plan is structured not only to remedy the deferred maintenance of the pedestrian areas, but to introduce other improvements as well, which will benefit the properties in the vail LionsHead area. For example, at present, the vail LionsHead area does not attract the same amount of tourist activity as the vail village area. To correct this situation, the Urban Design Guide plan contains a number of features designed specifically to make the vail LionsHead area more attractive to visitors. Insofar as these imorovements achieve their objectives, aIl properties in the area will benefit. If vail LionsHead becomes a place to visit while touring or staying at Vail, there will be a corresponding increase in commercial activity. such an increase in I I I I I I I I I I I I I I I I I t I I ' activity will benefit not only the commercial enterprises, but also the other properties in the area as well. The benefits to be derived from the proposed urban Design plan will be m.st strongly felt by those properties direcily fronting on the pedestrian mall; however, there will be a ripple effect which lvill extend to all properties which are directly associated with Vail LionsHead area. This total area, as illustrated by Figure 1, is bounded on the south by Gore Creek, and on the north by South Frontage Road; and includes The Mark and vail spa on the west, and extends to the east to include the Lodge at LionsHead. The area identified in Figure 1 includes all the properties which can be expected to directly benefit from the improvements contained in the Urban Design Guide Plan, even though the level of benefits throughout the area can be expected to differ. 2/83 Rev i sed TABLI 1 VAIL LIOI,ISIIEAD II'IPROVEI][i.IT DISIRIBUT IOIi OF OI,II.J[RSH IP BY LAND USE TYPE iN SQUARE FOOTAGE DIS TR I CT /TREAS Code I'lo. 01 02 03 04 05 06 07 08 09 IU 1all tz,ia 14 15 16 tt 1Q 19 20 21 22' 23 24 25 27 t6 29 30 31 32 96,005 93,206 24,186 8, 736 8,736 9 ,894 46,467 24,301 32,540 19 ,086 29,067 50,323 32,342 z5 , uou 40 , 1gg 25,678 22,951 20,820 11 ,998 28,776 17 ,892 17 ,420 19,231 26 ,716 24,158 1B,909 35,267 3,357 -20 26,376 .00 5,000.00 7,967 .28 t'too:oo 1 1 ,790.00 8,468.00 751 .00 65 , 978.00o on7 nn 5,034.00 6, 765 .00 12,873.00 12,802.00 2,021 .00 237 .50 Vai I Spa The Mark Enzian Lodge Enzian - Building Enzian - Building Vai I GIo -Concert Hal I Montaneros Lion Square Lion Square Lion Square Lion Square Ant I ers Landmark Pl aza Nonth I IIIIi Landmark Townhouses Vantage Point I Vantage Point II Sunbird Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vai I LionsHead Condos Lodge at Lionsflead II Lodge at LionsHead IiIFirst Westwind Auxiliary Building TOTAL B Residential/ Accomnodat i on Cornmerc i a I Tota I 99 ,362.20 1 19 ,582.00 29,186.00 g , 736 .00 8 , 736 .00 9 ,894 . 00 7 ,967 .28 49 ,671 .00 24,301 .00 32 , 540 .00 19,086.00 29,067 .00 50,323.00 44,132.00 25 , 060 .00 40,198.00 25,678.00 31 ,319.00 751 .00 65,978.00 30,727 .00 5,034.00 18, 763 . 00 4r,649.00 30 , 694 .00 17 ,420.00 19,231.00 26,716.00 26,179.00 18 ,909 .00 35 , 267 .00 237.50 809 ,863 182,530.98 992,393.98 (s) l,trny sruirlr & compnry lr<1.-'-* I SECTION II LAND USE DISTRIBUTION As illustrated in Table 1, thirty-two projects/buildings with a total floor area of 952,485.98 square feet have been identified for inclusion in the vail LionsHead improvement district because they will be direcily benefited by the Urban Design Guide plan. By far the largest single category is residential/accommodation units which accounts for about g2 percent of the total floor area. commercial space, includinq skiing facilities make up the remaining approximately 1g percent. 0f the 32 properties, ll with a combined floor area of about 331,000 square feet, or 34 percent of the total, are directly contiguous to the walkway system. However, these ll properties house a total of 146,000 square feet of commercial space, or g4 percent of the total. In addi- tion, these 11 properties contain a total of 1g5,000 square feet of residential condominium units, or 24 percent of the total resident/accom- modation category. The listing in Table 1 includes the total square footage of assessable space as recorded on the Eagle county Assessor's Rolls plus the small amount of commercial based space in the Vail LionsHead Auxiliary build-ing. Ownership in common areas is recorded in accordance with the per- centage "assigned" each condominium unit at the time of original sale. In most instances, the p'ercentage of comnion area ownership assigned is almost identical to the ratio of the individual condominium unit square footage to the total floor area of all condominiums in the individualproject. This applies to commercial units as well as residential units. However, insofar as the assignment of common area ownership differs from the space area ratios, even though there is, in all likelihood, a ration- ale behind such assignments, the assignments are nevertheless arbitrary. This discrepancy between floor areas and common areas will increase as new space is added to existing structures, unless there is a recorded adjustment. Because of these discrepancies, by utilizing a direct square I I I tI I " footage ratio of the individual units, the most equitable distribution of I common area space is achieved. To the extent that the execution of the Urban Design Guide Plan creates benefits (and/or conversely, arrests a physical decline in the public areas of the Vail LionsHead area), those benefits will flow to the indi- vidual properties; or, more specifically, to the economic units involved, since it is they which generate the total of the economic values in the area. The common areas, including the land up on which the projects sit, are support functions which have no economic value in and of themselves. Vacant land, as an example, might have a market price which reflects its potential contribution to the creation of economic values at that location, but it has no economic value in and of itself. The same is true of the other common areas such as entries and hallways, utilities and utility rooms, driveways, unassigned parking, etc. Thus, the only manner in which benefits can be uniformly and equitably distributed to the recipients of those benefits is on the basis of the economic units involved, and the relationship of those economic units to the source of the benefits. The space allocation in Table 1 is based upon the ownership pattern as identified from the Eagle County Assessor's records. For example, Lions Square II and III are listed as residential condominiums; however, a physical inspection reveals that the two projects have been physically joined and are being operated as a accommodation facility. There are also a number of the individual condominium units in the Vail LionsHead area which are either wholly, or primarily operated as commercial ven- tures by their owners. For these reasons, a clear distinction between residential and accomrnodation facilities cannot be made, and consequently for the purposes of this analysis have been lumped together. In addi- tion, some of the residential units have been converted to commercial use, as has part of the common area in Lions Square II. While such variances between the assessor's records and the physical facilities have been noted, it is the former, the assessor's records, upon which this I T T I t t I I I I I I analysis is based. llotvever, as the assessorrs records are brought up to date, these discrepancies will be eliminated. I t I t I SECTION III THE URBAN DESIGN GUIDE PLAN }.|hile several central city pedestrian malls have succeeded in manners other than those originally intended, it is not necessarily an "either/ or" situation. A pedestrian mall can be designed with dual objectives in mind: on the one hand, to stimulate retail sales; while on the other hand, to serve as an open area amenity for the benefit of neighborhood non-retail commercial and residential properties. It appears that the intent of the Vail LionsHead plan is to serve both purposes. The improvements scheduled under the urban Design Guide plan will serve two functions: first, they will correct the physical deterioration due to needed maintenance in the pedestrian walkway area; while secondly, they will bring a new dimension to the pedestrian walkway system through a general upgrading of the area and the introduction of special amenities. such a program is not unlike those adopted in other urban centers where pedestrian malls have been developed. The original pedestrian malls in Kalamazoo, Michigan, and Miami Beach, Florida, as well as most of those which have followed, were designed primarily, if not specifically, to bring to their respective business districts a principal feature of the suburban shopping center, the pedestrian mall, which separates pedestrian and automobile traffic. This was, of course, the original intent of the pedestrian mall at Vail LionsHead; however, even though the original concept anticipated 120,000 square feet of commercial space, the physical plan does not provide retailing activities with a proper environment. In the execution of the concept, emphasis was placed upon other aspects of the pedestrian mall, such as a physical linkage between the residential condominiums and the Vail LionsHead area,s skiing facilities. Many of the pedestrian malls which were originally planned to bolster retail sales in declining or static areas have subsequenily performed a far different function. There are a number of situations, such as both t I I I I il I il t I ) I I I I I I I I I I I t ' Riverside and Burbank in catifornia, where malls designed to stimulate retail facilities failed in that regard, as evidenced by continuing declines in sales and store closings along both malls. In spite of their failures in one respect, these malls have attracted sufficient new private cormercial and public inveitments to be considered successful. In fact, the mall in Riverside has expanded from 3 to 4 blocks in soite of the decline in retail activity. Thus, a well designed mall can be expected to provide a public amenity which will be a focal point of activity in the same manner as a park or other urban green area. The urban Design Guide plan for the vail LionsHead area is a further step down the road to making the pedestrian area more "shopper,' oriented, as well as providing a more aesthetic environment for persons visiting the area, either while touring or while residing in Vail. Even though empha- sis is placed upon the central pedestrian mall, in conjunction with the upgrading of the area as set forth in the urban Design Guide plan, better Iinkages between the mall area and other parts of the LionsHead area will be provided through expanded and improved pedestrian walks which will serve The Mark, Vail spa, vail Glo, Anilers, Lodge at LionsHead, and the north day 10t and pedestrian bridge. l./ith these improvements the areawill be more tighily tied together so that the benefits resulting from the Urban Design Guide plan will be more broadly spread out. t I I I I I I I I l I I I I SECTION IV THE DISTRIBUTION OF BENEFITS The principa.l reason cities across the country have developed pedestrian malls in established business districts has been to preserve the retai I ing comnunity. I'lost of the cities invol ved are smal I and have a typical "main street" retail complex; and where assessment districts have been established to finance these malls, the districts are usually, but not exclusively, limited to the properties fronting on the mall. Of 26 cities with malls of this type, and for which information on established assessment districts are available as a determination of benefit, iT of the assessment formulas are on either a front foot or a per square foot basis. However, there is a growing awareness that, on the one hand, a pedestrian mall is not necessarily a panacea for the problems of older retail districts; while on the other hand, that pedestrian malls also provide benefits to other types of land uses. As already noted, both Riverside and Burbank, California, developed pedestrian malls to prop up their declining central business district retail strips. However, the declines in sales persisted and retail has become unimportant in both mall areas but has been replaced with other urban uses attracted to the locations by the amenity of the pedestrian malls' green areas. In a break from this pattern, and in recognition that the benefits of a pedestrian mall extend over a broader district than the frontage parcels only, a number of cities throughout the United States have adopted programs under which the total geograhic area beneficially impacted is identified, and the distribution of benefits within that area determined. such programs have been undertaken or have been proposed in the cities of l,4emphis, Tennessee; Minneapolis, Minnesota; Madison, Wisconsin; Ithaca, New York; Little Rock, Arkansas; Helena, l4ontana; and in Denver and Boulder, colorado. Since state law is an important factor in determining how the districts will be established (as well as local ordinances), attention is directed to Denver and Boulder.I I I I 10 I I I I I I I t I I I I I I I I I I I The initial proposal for Denver's l6th street Mall, recently completed, was a benefit district which would have extended 5g0 feet in depth on either side of the 16th street Mall. This district included the firstfull block in depth, which was in turn divided into four 100-foot deep benefit zones, plus the first 100 feet in depth (four standard lots) of those blocks one street removed from l6th street. Thus, five benefit zones were designated and identified by the letters A through E. For each of these zones, the benefit was determined and converted to a per_ centage of the total benefit as illustrated in Table 2. In reviewing Table 2 it should be noted that there is an g0 foot street right of way between zones ',D" and ',E,'. TABLE 2 DENVER 16TH STREET MLL PROPOSED SCHEDULE OF BENEFITS (Distance in Feet) Di stance From l4a I I Benefit Zone A B c D E 0-100 100 - 200 200 - 300 300 - 400 480 - 580 Percent of Benefit 45.0% 20.0% 15.0% 12.5% 7.5% with reference to Table 2, the three important factors to be noted are:l. The benefit was determined to extend for a distance of 5g0 feet,2. The benefit declined with distance, and 3. The Denver benefit district places a premium on mall frontage, an approach consistent with the earlier',shopping mall" concepr. while the proposal for the financing of the 16th street Mall through an assessment district was worked out in detail, alternative funding sources were found and the mall, which was recently completed, was g0% financed from Federal Urban Mass Transit Administration Funds, and 20 Dercent t1 I I financed from the colorado Highway Department and the Denver Regional Transportation District. since alternative financing was found, the proposed assessment district was dropped. However, in Boulder, a benefit district was also proposed and has been adopted. The analysis in Boulder led to the establishment of a benefit district extending two blocks in all directions from the 4-block long mall, or to a depth of 6g0 feet on either side of the Pearl street Mall, and 760 feet at each end. Thus, in recognition of the total benefits of the mall to all properties within the impact area, rather than just the frontage parcels, the benefit district in Boulder was structured as a frame around the proposed mall. This benefit district was then divided into nine zones with the weighted benefits as illustrated in Table 3. As in Denver, the Boulder benefit district also contains an 80 foot street right of way between zones 4 and 6 in the side blocks, and two 20 foot alleys between zones z and 3 and zones 7 and 8. TABLE 3 BOULDER PEARL STREET ]'lALL SCHEDULE OF BENEFITS I I I I I I I I Benef it Zone 1 2 4 6 7 I 9 Again, attention is l. The benefit was 680 to 760 feet, Distance in Feetffi 0-70 70 - 140 160 - 230 230 - 300 M 380 - 450 450 - 520 540 - 610 610 - 680 Benef it Factor 50 47 34 28 20 t3 I 4 2 B0 - 180 180 - 280 280 - 380 380 - 460 460 - 560 560 - 660 660 - 760 directed to three points: determined to extend for a distance ranging from T 12 40 &oFC) u- ?toF 3lr, = 60 20 FIGURE 2 BENEF'T CURVES 600 7oo t0 5oo ili.. I t\| \ t*. ,iru;.- \r\-r- .... -,.t .;.;:'- DISTANCE IN FEET I I I I i I I I I I I I I 2. The benefit declined with distance, and 3. unlike in Denver, only a slight premium was placed on the nall frontaqe. Another factor should also be pointed out. Both of the districts in Denver and Boulder were in established commercial districts with geometrically uniform blocks, lots and streets. Thus, in part, the subdivision plots were determining factors in the establishment of the rate at which benefits diminished with distance. This raises two question: first, over what distance will the benefits created by the Vail LionsHead Urban'Design Guide plan extend; and second, at what ratewill the benefits diminish. In both Denver and Boulder it was determined that benefits would decrease with distance. However, the formulas were different; with the Denver emphasis being placed upon mall frontage, while the Boulder formula reflected the wide area.a pedestrian mall would be expected to impact. In Boulder, the zone values were based upon the normal cumulative distribution curve, a statistically-derived curve which indicates the frequency with which certain phenomenon can be expected to reoccur. Figure 2 provides an illustration of the different emphasis in the two curves. The base data used in Boulder to determine the distance benefits would extend from the pedestrian mall was obtained from a research report* which analysed the distances persons would willingly walk in cities ofdifferent sizes and under different circumstances. This analysis of a willingness to walk a given distance applies not onry to residents, either permanent or transient, but also to day visitors who would park at one of the three peripherar facilities at LionsHead. consequenily, the benefit zone can be expected to reach out to include all those properties the residents of which would have a pedestrian orientation to the vail LionsHead area. Based upon these considerations, it is expected that the *special Report 25, "parking principals", Highway Research Board, 1971, Page 15. I 13 I I I I I t t I I I T benefit district will extend over.the distance of a z-U2 minute walk, or approximately 600 feet from the mall. This is approximately the same distance that the benefits were expected to extend in the Boulder and Denver improvement d istricts. Thus, the two guestions posed above have been answered. The benefits of the urban Design Guide plan can be expected to extend to all those properties which have a pedestrian orientation to the LionsHead pedestrian mall area; but the benefits should decrease with distance. In keeping with the Boulder and Litile Rock improvement districts, which represent some of the most recent thinking on the question of the distribution of benefits, the decrease in benefits with distance can be expected to follow the normal distribution curve. utilizing these criteria, Table 4 has been developed to show the rates at which benefits can be expected to decline with distance within a 600 foot imDact zone. The distance from the major urban Design plan improvements to each pro- ject or building is shown in Table 4. The construction area is illus- trated in Figure 3 as a shaded area. while there will be street and ) sidewalk improvements (landscaping and street lights) made outside the. shaded area, the major impact will be in the mall proper, a bus shelter at the west tr'lall Entry and new stairs at the south entrance located south of sunbird Lodge. All buildings fronting on any of the major const,ruc- tion areas identified in Figure 3 have distance factors of 1. In all other cases, the distances have been measured from the nearest point of the urban Design Plan major improvements to the approximate center of each building(s). The street and sidewalk improvements will, however, enable those projects outside the immediate mall area to benefit more fully from the reconstructed mall. 14 , !l;,i l_ i 'irlF;.l r ir IrJ ;l-T I i: cr ',Jt li ':ifF l',:r r! l-,:IIJE zo F()f E,Fazooz J o-zg1a IUoz o E,f T --.F \\-.\ a\ lt--^.rr,,, {:5:J z #lu\ zg nr.rt' ffi z --<tlE luL-q\ -) fa'L:I uq-Fd5 @zrAv J J s I t I { il t-iilHFil| frrFilfr _ElfHEa<l"? EIilEzilt9 il3 il il tl t !l Revised 2/83 VAIL LIOIISHEAD D I STAi,ICE Rev i scd TABLE 4 IMPROVII'IEIIT DISTRICT BENEFIT FACTOITS Code No. 01 02 03 04 05 06 07 OB 09 10 tl lz 13 14 IE 16 tt 1B 19 20 1l 22 23 24' 25 zo 27 28 29 30 31 32 Distance From l'lajor Improvements (ln Feet) 762 522 444 390 +zo 5U t) U 180 156 300 276 456 0 108 25tj 228 n 0 0 0 0 0 0 0 108 150 270 408 58B 96 162 Distance Benefit Factor Vai I Spa The l4ark Enzian Lodge Enzian - Building A Enzian - Building B Vai I Glo Concert Hail Plaza l,lontaneros -Lion Square North Lion Square I Lion Square II Lion Square III Ant I ers . Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunb i rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Buildinq ATreetops - Buildinq B Vai I LionsHead ConJos Lodge at LionsHead II Lodge at LionsHead iliFirst l.lestwind Auxiliary Building 0.0110 0.081B 0. 13BB 0. 1936 0. 1556 0.3078 1.0000 1 .0000 0.5486 0.6030 0.3174 0.3576 0.1286 1 .0000 0.7188 0 .3898 0.4472 .0000 .0000 .0000 .00c0 .0000 .0000 .0000 .0000 0.7188 0.6170 0.3682 0. 1738 0.0500 0.7490 0.5892 t5 lrurry sn:irh & conrgrany lrrl.-- I I I I I t I I I t I I I I I I t I ! SECTION V ASSESSMENT ANALYSIS All commercial space' regardless of its rocation, wiil normaily receivegreater benefit from the Urban Design plan than residential uses becauseof the higher pedestrian traffic (customers and employees) this usegenerates- It has also been noted above that g4 percent of the commer_cial space in vail LionsHead is rocated in buildings fronting on thepedestrian mall area. In addition, the physical inspection of the area reveals that the ground lever frontage is primarily commercial space. Therefore, even though the pedestrian nalr was not solely designed tofacilitate retailing, retail and associated food services are the princi_pal ground level activities and consequently will benefit more from theproposed improvements than either above grade space, or commerciar spacewithout direct mall frontage. It has been long established in the shopping center industry that those commercial facilities which front directly on a mall benefit more than those facilities which do not have mall frontage. The established ratiofor such benefit is typically quoted at 2 to 1. For example, in a onelevel shopping center, a department store with a basement and second level would have that space rated at one-harf the ground lever space incalcurating the benefit derived from the mall for the purpose ofallocating mall operating cost; that is, mall corrnon area charges. In view of the nature of the vair LionsHead area, and the improvements contemplated under the Urban Design Guide plan, including an expansion ofthe commercial space fronting on the mall, such a distribution ofbenefits appears to be justified. Thus, the following table has beenprepared to distribute the benefits by use and proximity to the mall. t6 Rev i sed TABLE 6 VAI L LIOI{SI,IEAD IMPROV[I,]EIJT DISTRICT DISTRIBUTION OF OI.II.IERSH IP AREAS BY LAND USE TYPE UNADJUSTED SOUARE FOCTAGE Code No.R Cl 01 02 03 04 05 06 07 OB 09 10 11 12 13 14 15 16 17 18 19 zu .zl 22 23 t4 zo 27 28 29 ?n 3t 32 Vai I Spa The Mark Enzian Lodge Enzian - Building Enzian - Building Vai I Glo Concert Hal I Plaza Montanero s Lion Square North Lion Square I Lion Square II Lion Square III Ant I ers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunb i rd Ticket Booth'Gondola - Terminal. Lift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B Vai I LionsHead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst llestwind Auxiliary Building A b 96,005 93,206 24,186 B,736 d, /Jb 9,894 46,467 24,301 32,540 19 , 086 29,067 50,323 32,342 25,060 40, 1gB 25,679 22,851 '20,820 r rlgge 28,776 17,892 17 ,420 19,231 26,716 24,159 18,909 Ja ,10 / 26,376.0 5 , 000.0 4,864:0 32,201 .O 3,356.0 1,711.0 1,680.0 2,021._0 237.5 z,ioq r,jgo g, aos 751 J5, / I I 9,9A7 'l A'7A 5, 054 12,873 12?n 99 ,362.20 1 19,582.00 29,186.00 8, 736 . 00 B , 735 .00 9,894.00 7,967 .28 49 ,671 .00 24,301.00 32 , 540.00 19 , 086 .00 29,067 .00 50 , 323 .00 44,132.00 25 , 060 .00 40,198.00 25,678.00 31,319.00 751.00 65 ,978.00 30,727 .00 5 , 034.00 18,763.00 41,649.00 30,694.00 17 ,420.00 19,231.00 26 ,716.00 26,179.00 18,909.00 35 , 267 .00 237.50 .c2 3, 103 .28 9 ,892.00 C3 Total TOTAL 809,863 80,803.7 12,995.28 89,732 992, 393.98 (17 ) Innrrv srrrirli & conrpnny lr.l. - I I I I I I N I t I I I I I I TABLE 5 VAIL LIONSHEAD IMPROVEMENT DISTRICT USE FACTORS Symbol K c1 c2 c3 not on mal I 1/2 floor + mall mall frontage As shown by the table, commercial space not fronting on the mall has an estimated benefit 25 percent greater than residential space. Further, commercial space direcily fronting on the mall has a benefit twice that of other commercial space (1 .25 x z = 2.5). A special category has been included which recognizes the unique situations of some of the commercial space in the vail 21 building and concert Hall plaza. In the vail 21 project, there is only one commercial space fronting direcily on the mall with some space either one-half floor above or below the mall yet still visible and accessible to it. Likewise the Concert Hall plaza commercial space does not front directly on the mall yet is highly visible and accessible to these major improvements. Table 6 shows the amount of space (in square feet) in each of the four categories described in Table 5 for each of the projects identified in Table 1- The square footage shown is the unadjusted square footage and therefore the total equals that of Table 1. However in the actual calcu_ lations, the factors shown in Table 5 will be multiplied by the square footage in each classification. The preceding discussion, in sections I through IV, as well as in the preceding paragraphs, indicates that the benefits to be derived from the execution of the urban Design Guide plan are direcily related to the relative gross floor areas of the individual properties in the assessment district, adjusted for distance, class of property use type, and mall frontage. Use Residential Commercial - Commercial - Commercial - Factor 1.000 1.250 frontage 1.875 2.500 I I 17 It' r tt I I with all of these factors in mind, the assessment of any specific property (Ap), based upon the distribution of benefits, is calculated as t fol lows:I I AP=Y xAarY | [here: A = total assessment, and I y=pxDxU I I Where: P = square footage of individual properties, D = distance factor I and U = use facr,or. I I In the formula "P" is the square foot area of each ownership unit taken from the assessor's records. At Antlers, for example, the most common I unit is a 685 square foot condorninium. Thus, in this example, for anI individual condominium P would equal 685, and for the entire project p I equals 50,323 (see Table 1).t , The distance factor, "D" in the formula, is also reported for eachII property in Table 4. For the Antlers, which is being used in this example, D = .1286.II Finally, the U factor developed in Table 5 is applied which is 1.0 since t the property is residential. Thus, for the Anilers project, the ,,y,, ! factor is calculated as follows: II Y=PxDxU II Y=50'323x.1286x1.000 I Y = 6471.5378I II Ill8 II llqvisr:d 2/83 VAI I. PROJECT ASSESSi.i[NT Rev i sed TABI.E 7 L I0IJSfIEAD Il{PR0VIrlif ilT BY USE FOR $1 I4ILLION DISTR ICT DlSTRICT ASSESSI4EilT* ' Code llo. Project 01 Vai I Spa02 The Mark03 Enzian Lodoe04 Enzian - AIiiOing R05 Enzian - Buildinq B06 Vai I Glo07 Concert Hall plaza 08 l'lontaneros09 Lion Square North10 Lion Square I11 Lion Square II12 Lion Square III13 Antlers14 Landmark15 Landmark Townhouses16 Vantage Point I17 Vantage Point IIl8 Sunbirdl9 Ticket Booth20 Gondola - Termina!21 Lift House22 Lions Pride23 LionsHead Arcade24 LionsHead Center25 Vai I 21 2_9 Treetops - Building A ?7 Treetops - Building I28 Vai I LionsHead Condos29 Lodge at LjonsHead II30 Lodge at LionsHead III31 First llestrvind32 Auxi I iary Bui lding Connlerc i a I ?tnj ecT--Tv.7Sq. $ 1,498.97 l0,925.94 4, 766 .99 2, 400 . 54 1 ,929.36 4,322.47 65,953. 19 . 18;922.21' 27,850.11 I, 598. 30 14,753.40 9,185.21 45,904.91 25,567.08 22,240.07 16,298.73 32,433.72 29,551.06 17 ,029'.46 40,843.39 25,395.12 17 ,772.44 16,841 .42 13,961.90 5,959.42 1,341 .92 37,492.25 $ o.o2 0.12 0.20 0.27 0.22 0.44 1.42 0.78 0.86 0 .45 0.51 0.18 1.42 1.02 0.55 U.OJ :'o' :.^| .+z .42 .42 .42 .02 0.88 0.52 0.25 0.07 r .06 ozs]a 248.27 Frtr, T6im-f $ 65.52 $ 0.023,823.50 0.151,229.20 :ru 16,888.42 2.12 | | ,36s.0s :.uu :: 41,835.55 :.UU 30,047 .78 3.55 2 ,664 .94 3 .55176,984.88 2.6835,153.90 3.55 1 1 ,908 .40 2.37 20,969 .22 3. 1045,678.45 3.5533,670.65 2.63 0.31 r.05 TOTAL T5r9-;63y.28 GRAND TOTAL FOR BOTH USES $952 ,800.29 *Lump sum if paid in one year; however, as e)is typically financed over 10 years (see Tab -t'1ined in the text, payment Residential (le) Again using Antlers as an example, with a total of 50,323 square feet of floor area in condominium ownership, the assessment on each square foot, based on $1 million district assessment, would be $0-1825, and the assessment on the typical Antlers 685 square foot condominium would be $125.03. This is calculated as follows: As indicated above, the formula for calculating the assessment of an individual property is: AP=Y xA 'T Where:. Y = 704,543.73 (the sum of the Y factors calcuiated by computer for each of the individual units). Thus, for Antlers: Ap = 6,471.5378 x $1 million = $9,185.43 which when divided by 50,323 square feet equals $0.1825. These calculations have been made for each unit and are contained in a separate computer printout. Table 7 summarizes the total and per Square foot assessment by project for each use. However, since each unit assessment has been rounded to the nearest cent' the proiect totals shown in Table 7, which equal the sum of the proiect's unit assessments' might not precisely equal the project assessment as calculated by the above formula. For instance, the sum of the Antlers unit assessments is ten cents less, at $9,185.33, than calculated above. l I I il 19 SECTION VI COST IMPACT As shown in Table 7, the total assessment for the Antlers if paid in a lump sum would be $9,185.33 or about 18 cents per square foot. For a typical 685 square foot condominium unit, the total assessment would be $125.03. However, it is most likely that the proposed improvements will be initially financed and the cost of the principal and interest payments assessed over a period of time. Table 8 shows the annual Anilers assess- ment by total project, typical 685 square foot unit, and per square foot, assuming the $1 million District improvements are financed over 10 years at 13.5% interest per annum with level principal payrnents. under these financing assumptions, the annual assessment for the typical 6g5 square foot unit vould decline from $29.38 in the fi.rst year to $14.,|9 in the tenth and final year. Likewise the per square foot assessment would decline from about 4 cents in the first year to approximately 2 cents in the tenth and final year. The maximum lump sum assessment for any project as shown in Table 7 would be $3.55 per square foot. This is for ground floor commercial space which fronts on the mall. The annual assessment cost using the same financing assumptions as noted above would cost about g3 cents the first year declining to 40 cents in the tenth year. Table 9 illustrates the overall implications of a 83 cent cost. T I l I I I I t I ! 20 ANNUAL 13.5 PERCENT TABLE 8 ASSESSMENT ASSUMING .IO YEAR FINANCING AT PER ANNUM I,IITH LEVEL PRINCIPAL PAYMENTS FOR THE ANTLERS PROJECT Year 1 2 3 4 5 6 7 8 9 10 Total Project $ 2,158.57 2,034.57 1,910.56 I ,796 .56 | , 662 .56 1,538.56 I ,414.56 1 ,290.55 1,166.54 1 ,042.54 685 Sq. Ft. Condo Unit $ 29.38 27.69 26.00 24.32 22.63 20.94 19.25 17.56 ,l 5.88 14.19 $ s.00 30.00 35.00 65.00 $ 100.00 Per Square Foot $ 0.0429 0.0404 0.0380 0.0355 0.0330 0.0306 0.0281 0.0256 0.0232 0.0207 21 il il tl il t l I I l I I T I TABLE 9 PER SQUARE FOOT RETAIL SALES INCREASE REQUIREMENT TO OFFSET $0.83 PER SQUARE FOOT ANNUAL CHARGE Current Conditions Net Profit Special Assessment Charge 0perating Expenses Gross l*4argin Plus Cost of Goods Sold Gross Sales tlith Special Assessment Charge $ 5.00 e? 30.14 35 .97 66.76 $ 102.73 In the first column of rable 9, it is assumed that this typical retail establishment would cumently be generating $100 per square foot in sales, with a 5 percent net profit factor. In the second column, it is assumed that an improvement district assessment of one million dollars , .-i would be financed and that this typical store would be in the maximum benefit category. Thus, for demonstration purposes, the g3 cents per square foot maximum annual assessment charge is indicated as a separate I I I I I I I I I I I I I I I I I I expense item. In addition, general operating expenses would increase by only 14 cents per square foot, or the cost of financing the larger inventory required; that is, an extra 92.00 per foot in sales under an assumed merchandise turnover factor of three. Thus, under this demon_ stration, total sales would only have to increase in the first year under 3 percent to cover the annual assessment charge. In other words, any increase in sales in excess of 3 percent in the first year or, converse_ly, any expenditure which would lessen the deterioration of the area and thus reduce an erosion in sales due to the potential deterioration of thevail LionsHead area, would indicate that the benefit from the proposed improvements under the urban Design Guide plan exceed the cost. It should also be kept in mind that, under the assumed financing plan, the assessment will decline about 6 percent every year during the ten years. And, therefore, the sales increase, on average, would need to be even less to cover the cost of the assessment. The illustration in Table 9 assumes an owner occupied store. In the event the commercial space were rented, and that the landlord would not have taken the precaution in his lease to be able to pass through the cost of the assessment to the tenant, at a 6 percent rental factor the tenantrs volume would have to increase by $i3.gs per square foot in thefirst year and g6-67 per square foot in the tenth year to pass through sufficient income to offset the landlord,s increased cost due to the assessment. At 8 percent of the increase in volume, the increase in sales volume the first year would have to be $10.3g per square foot; at 10 percent, $8.30 per square foot; etc. similar analyses can be made for other land use types in the area. Again referring to Table 7, the maximum assessment for a residential property would be $1.42 per square foot on one million dollars of total assess- ment; or, again assuming ten year level principar payments financedat 13-5 percent, 33 cents per square foot, the first year declining to 16 cents in the 10 years. using these data as a base, and assuming a r,000 square foot condominium unit, the annual charge would be about $330 thefirst year; or, assuming a 60 percent utilization factor, g1.51 per day T 22 t I I I t t g t T T T I I I t ! t I I of occupancy. If it is assumed that this condominium unit would be owner occupied, or otherwise not on the rental market, the same ,l,000 square foot unit would have to have a value benefit of only g2,640, utilizing an 8 times income factor, or substantially less than 2 percent of the typi- cal condominium value for the benefit to equal the cost. In summary, the increase in sales volume in a retail store needed to offset the annual assessmgnt charge is minimal in terms of the benefits which can be expected. similarly, an increase in rental room occupancy or daily rates is also minimal; as is the increase in market value of owner-occupied dwelling units. Again, the spread which must be considered is not merely a potential increase in value over the current base, but rather the differences between the relative value of the property in the event there are no improvements and the walkway system continues to deteriorate, opposed to the relative values under the assumption the Urban Design Guide plan is fully executed. clearly, the benefits which can be anticipated from the improvements proposed under the Urban Design Guide plan can be expected to be far greater than the cost of bringing those benefits into existence. since there are no comparable situations to the LionsHead pedestrian mall and its proposed upgrading under the Urban Design Guide plan, a determination of the benefits to be realized, when exDressed as an increase in commercial activity, cannot be made on the basis of direct comparisons. However, the renovation of shopping centers, which usually includes restructuring the tenant mix, has produced some outstanding increases in sales. For example, Stanford Shopping Center, which underwent renovation in ,|97g, had a real sales increase (that is, adjustedfor inflation) of 25 percent between 1977 and 1979; an increase which took place in the face of a significant increase in competition.':' lihile the renovation or revitalization of a planned shopping cenrer can oe expected to result in significant increases in sales, as already noted above, there is no consistency in the results of creating a central city 23 I I I I I I I I I I I I I I , I I I I ..4'i a mall- Nevertheress, the results in Boulder indicate the impact a well conceived mall can have. construction of the Boulder Downtown Mall began in June 1976 and extendedinto mid-1977- A comparison of retail sales in the tr4all area in 1975, the last pre-mall year, to 197g, the first post_mall full year, indicates a 69 percent real gain, that is, adjusted for infration. During the sameperiod, the real sares gain in the entire city of Boulder was 46 percent. Thus, over this period, the Mall area outperformed the city as a whore by 23 percentage points. This is essentially the same percentage increase experienced at Stanford shopping center as a result of its renovation program and is consistent with the general experience of the shopping center industry. In addition to increases in retair sares in excess of the city average, the development of the Boulder Downtown lvlall resulted in other benefits as well- A na*ative description of these is provided by the foilowing statement prepared by the planning Department of the city of Boulder. PRIVATE IMPROVEMENTS There are-approximately 62 individual store fronts within the four blocksof the Mall. During.the. tS-montn perioo prio"-tJ-niri't'"igta, when finaldecision on the conitruction of thb Nair iooi pii."f in.r6 ""..9 storefronts that were rehabilitated or iesioreo. .since April 1976, there havebeen 23 additional store fronts reniuiiitated o"-""rii..0. of these,there were 1r maior relglir,itations, and these included severar storefronts from whic6 the 1950 s iiuminiui racioei *t..-r.ilor"o. some of the chanqes of use that have occumed within the downtown are asfollows: a run-iown frotei/iooringhJri. has been converted into a firstclass office-space; a one_story oiilding,-ioir""rv-n;;;i;; a shoe repairsnop and coffee shoo,. has been- replaced by a major addition to a bankthat is housed in air-historic tantri,iii; and a second floor warehousespace has been converted to office use. z4 i. e I I I il il il tl tl :l T tl il f, fl ! I I rrr rr) | A unique feature of the tvlall has been the creation of a privatedevelopment zone. within the 10 feet of rigni-or-way Jdjacent to thestore fronts, the owner or tenant may develSp a vari6ti 6f uses whichinclude a basement stairway, a sidewilk carei i nJtioiirg rront extensionon the first or second floor, or landscaping. To date ihree propertyowners have constructed basement stairweits-in order to conveit basement IPIli: original.ly.used for storage,-into prime commercial space thatrronts on the Mall and has display windows. The tenants arb varied andinclude a sports shop,. restaurant, art galtery ino-iniii snop. There arefour restaurants that have used the 10 ieet fbr sidewalk iarbs, which in-Boulder's fair weather have-become prime locations. ine iitv ieases tnespace at an annual rate of $3.50 per square foot. The city itso teisei-out locations for vending carts aird advertising space on tire postingkiosks. The revenue is used to offset the cosi oi maintaining the l",lall. since the decision to construct a Mall was made, there has been renewedinterest by many.stores to locate in the downtown aiei. -5ome of the newstores include five restaurants, .a jazz club, an ice iream parlor, i - crafts shop, numerous offices and s6veral jewelry iioiei-inb 3eani inops.There has also occurred major expansions ui tnre6 banks, ionstruction ofa, parking garage-with combined rbtait/offile/reiiauilni'ouiroing, ino iorthe conversion of a landmark hotel into residential units. From.the period from April 1976 through August 1977, there were a totalof 21 building permits issued for projects-costing more tnan sio,ooo---each.. This compares-with the previoui 15 montn p6riod-wnen ri pei*itswere.issued. .Also, from April i976 through August 1977, there were 33g:i1il: i::y.9 for,projects costing more ihan $t,OOo euin. rnis compireswlrn tne previous 15-month period when 20 permits were issued. This'represents a 65 percent increase in the issuance of building permits. ]n9 luilding^perimits were issued for a total cost of $3,050,000. 0f thistotal, $2,190,000 or 71 percent was for new construction, ano $g60,000;;29 percent, was for rehabilitation. in 1975 tne assesied valuation inthe downtown commercial district was approximately 5.2;illion dollars.lI !nq. present ratio of 30 percent or inarkei viiu6,-intf-would inoicaie il,?t lhg.real property has b market value of approiimateti Siz,000;000:Inls rnorcates that during the period of mall construction tne marketyglue 9f real property wiihin the downtown increiieo-ui-ipproximately t8percent. 25 c (, ORDINANCE NO. 1 SERIES OF 1983 AN ORDINANCE CREATING LIONSHEAD IMPROVEI{ENT DISTRICT' APPROVING THE PLANS FOR AND AUTHORIZING THE CONSTRUCTION AND INSTALLATION OF SPECIAL AND LOCAT II',IPROVEMENTS THEREIN IN CONNECTION WITH WHICH SPECIAT ASSESST4ENTS SHALL HEREAFTER BE LEVIED TO PAY A PORTION OF THE COST THEREOF; APPROVING THE MXTHOD OF APPORTIONING SUCH ASSESSMENTS; ITIAKING FINDINGS AND CONCLUSIONS BASED UPON EVIDENCE PRESENTED AT A PUBLIC HEARING CONCERNING THE FOREGOING; AND SETTING FORTH DETAILS IN RELATION THERETO WHEREAS, pursuant t,o the Charter of the Town of Vail, IColorado,'Title 2O of the V.aiI Code, and Resolution No. 21, Series Lg82, the Town Council held a public hearing on November 30, 1982, relating to the creation of a special improvement district for the construction and instaltation of certain special and local inprovements to the LionsHead Mall and surrounding areas; and WHEREAS, the Town Council has considered the testimony and other evidence presented at said hearing and all comnents nade by affected property ovrners and nembers of the general public relating thereto. BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. Based upon aII the evidencer the Town Council finds as follows: A.) Pursuant to Resolutipn No. 2I, Series 1982, the Town Council has duly initiated by appropriate order the special and local improvement project described herein. o -3- ( B.) Notice of a public hearing thereon in the required legal form was duly published in The vail Trail on November 12, 198 2. C.) A copy of the sarne notice eras duly nailed to all affected property owners at the last known address of each such ovtrner as shown on the records of the County Assessor of Eagle County, Colorado, by first-class postage prepaid mail on November 12, 13 and 15, L982. In addition, steps were taken by Town officials to ascertain current ordners of affected properties and their addresses and attempts made to furnish then with actual notice via rnait. D.) A public hearing on the project was duly held on November 30, 1982, and full opportunity was afforded all affected property owners to present their views at said hearing. said hearing was continued to the date of this meeting. E. ) Schenatic design plans have been duly presented to the Town council for the inprovenents proposed to be constructed and installed, which generally include replacing paving in major areas of the LionsHead Mall, relocating planting areas, providing new focal points of interest, unifying and upgrading utility systems, providing emergency access to all areas of the Mal1, installing a eaecading fountainT a sculpture plaza, a new lighting system and street lights for the surrounding area, benches, kiosks, planters, bicycle racks, drinking fount.ains, and other amenitiesr and generally improving the aesthetic quality of the Mall and the surrounding area. Said plans conform to good architectural standards and practices and are -4- (,(. appropriate for the LionsHead Mall area. Schematic design plans are hereby deemed satisfactory. F. ) The improvements to be constructed and installed are special and local improvernents which also confer general benef its upon the Tor,'rn. It is therefore appropriate that the general public share in a portion of the cost of the improvements. The total estimated cost of the improvements is $215001000. The portion of the cost of the improvements to be borne by the Town is $116001000. The portion of the cost of the improvements to be defrayed by special assessments against affected properties specially benefited sha1l not exceed $I,000,000. Said cost estinate and apportionment are satisfactory and reasonable in every respect. G.) Properti.es proposed to be assessed abut or are in the vicinity of such improvements and will benefit from the construction and installation thereof. Assessments are to be levied because substantial special benefits wiIl result fron the inprovements to all of the affected properties within the boundaries of the district, which special benefits are separate and distinct from the general benefits to the Town which will also result therefrom. H.) The proposed assessments have been deternined by using a method of assessment and a formula which apportions the cost of the improvements on a fair and equitable basis and reflects a reasonable apportionment consistent with the benefits to be conferred. The proposed apportionment of the cost and the -5- (,(, method of assessment assure every property o!{ner equal protection and due process of law. I.) There have been valid protests filed in accordance with the Charter and Title 20 of the VaiI Code, numbering 84. The Town Council finds that the nunber of protests so fited are less than fifty percent (50t) of the affected property owners constituting the basis of assessnent of the district. The Town Council duly considered each and every protest, objection and remonstrance and determined the same to be without nerit, and hereby declares and rules the same overruled and finally passed on by the Town Council and that the project should proceed notwithstanding the same as it is necessary for the preservation of the public health, safety and welfare and is in the public interest. J. ) The Town Manager or his delegee has duly held neetings relating to the improvenents for the purpose of inforning affected property or4rners about the same and about the assessrnents proposed and for the purpose of obtaining their reactions thereto. K.) AII necessary legal requirements and conditions precedent for initiation of the improvements and for the public hearing on the same held on Novernber 30, L982, have been futly perforned, met and satisfied. .? Section 2. Based upon the above findings and t,he additional findings stated below, the To!'rn Council finds, concludes and orders as follolits: -5- :(o (, A.) It has juri.sdiction over the LionsHead area where the improvements are to be nade and all of the affected properties described on Exhibit A attached hereto. B.) There is hereby created within the corporate Iimits of the Town of Vai1, Colorado, a special improvement dist.rict to be known and designated as "LionsHead Improvement District" for the purpose of constructing and installing inprovernents to the LionsHead MaIl and surrounding areas and of assessing a portion of the cost thereof to the property benefited thereby, which property is described on Exhibit A attached hereto. C.) AII action not inconsistent with the provisions of this Ordinance heretofore taken by the Town Council and the officers of the Town directed toward the creation of the District, the construction and installation of the inprovernents therein, and the levy of assessnents to pay a portion of the cost thereof is hereby rat,ified, approved and confirmed. D.) The extent of the District to be assessed for the cost of the improvements and the area to be included within the boundary of the District sha11 be al1 the real property described on Exhibit A attached hereto. E.) The schematic designs for the i.mprovements are hereby approved, however, detailed design may be subject to modifications which could be imposed due to the amount of the resources available from the bond proceeds, and the construction and installation of the impiovements within the District as (, -7- ((,o shown by said preliminary plans are hereby authorized and ordered. [l.) Upon authorization of the voters of the Town, the Town will pay $1 ,5001000 of the cost of constructing and installing the improvements. In addition, the Town will pay any part of the project cost which exceeds the estimated cost of constructing and installing the improvements subject to the availability of proceeds from the bonds. c.) The Town Council has deternined, and does hereby deternine, that assessments sharl be revied against the affected property in the District (the properLy specially benefited by the improvements therein) according to the rnethod described in Exhibit B attached hereto. H. ) After considering all of the circunstances existing within the District and weighing the factors specified in Title 20 of the VaiL Code, the Town Council has determined, . and does hereby determine, that said nethod of assessment is a fair and equitable methodr ?Dd that such assessments shall be in proportion to the special benefits conferred upon such property, sufficient to cover the portion of the total cost of the improvements to be defrayed by special. assessments; the assessment anounts apporEioned thereto shall be in proportion to the special benefits conferred upon said properties as deterrnined by the Town Council; and as a result of the improvements to be constructed and instalred within the District each such property will receive a special benefit, including without limitation increased market value, in an amount which -8- v (C shall equal or exceed the maximum amount of the particular assessment to be assessed against each such property, accordingly, said method of assessment is hereby approved. I.) The total cost of the project (excepting the amount to be paid from sources other than special assessments) upon the completion of the inprovenents shall be apportioned in an assessnent ro11 against each property to be assessed as herein described, and after notice thereof and a hearing thereupon, assessments shall be levied by ordinance of the Town Council. The nethod of assessment provided for herein shall be used and followed at the time such assessments are so levied. Sai.d assessments shall be a lien until paid in the several amounts assessed against each such property. J.) The Town Council, in addition to the express deterninations hereinabove set forth, by the adoption of this Ordinance, overrules all other objections and remonstrances that nay have been made, either in writing or orally at the public hear ing. K.) Al1 assessments shall be due and payable without dernand within thirty (30) days after publication of the assessing ordinance after its final passage. Propert,y owners shall be permitted, at their election' upon the levy of assessnents to pay such assessments on an installrnent basis not to exceed a fifteen (15) year period with int.erest not to exceed sixteen percent (168) per annun and not less than the highest interest rate on any special asssessment bonds issued to pay the cost of the improvements. Interest shall be cornputed on the -9- ( outstanding principal and shall be paid with each installnent. Said installment schedule and maximum interest rate are herebv approved. L. ) The assessments to be levied against t,he affected properties shall not exceed the assessment amounts provided in Exhibit A attached hereto. !,1.) The proposed assessment schedule, hereby approved by the Town Council, is as shown on Exhibit A attached hereto. N.) Pursuant to the laws of the State of Colorado, the Charter, and Title 20 of the Vail Code, special assessment bonds of the Town shall hereafter be issued for the purpose of paying for the improvements described in this Ordinance, in an amount not to exceed the cost and expenses of said improvements, including engineering, lega1 and incidental costs, as provided by law. The bonds shall be issued based upon estimates approved by the Tovrn Council and as authorized by an Ordinance to be passed by the Tovrn Council at a later date. The maximum net effective interest rate on such special assessment bonds is sixteen percent (158) per annum. The bonds and the interest thereon shall be payable out of the special assessments authorized herein t,o be levied against the real property included within the District and specially benefited by the improvernents to be constructed and installed. O.) The officers of the Town are hereby authorized and directed to take all action necessary or appropriate to effecutate the provisions of this Ordinance. ( I -r0- C C P.) A11 ordinances or resolutions, or parts thereof, in conflict with this Ordinance are hereby repealed. This repeal-er shall not be construed to revive any ordinance or part of any ordinance heretofore repealed. O.) If any section. paragraph, clause or provision of this ordinance shall for any reason be held to be invarid or unenforceable, the invaridity or unenforceabirity of such section, paragraph, clause or provision sha11 not affect any of the remaining provisions of this Ordinance. R.) The lirnitation period of thirty (30) days within which suits or actions regarding this ordinance nust be brought, as set forth in Title 2e of the VaiI Code, wiII cornmence to run on December 17, L992. S.) The Town Council finds that this Ordinance is necessary to and for the benefit of the public interest and the public health, safety, and welfare. TNTRODUCED, READ, APPROVED ON FIRST READING, AND ORDERED PUBLTSHED ONCE fN FULL, this 4th day of January, 1993, and a pubric hearing on this ordinance shall be held on Tuesday, the 8th day of February 1983, at 2:00 p.n. at a Regular Continued i4eeti ng of -11- C the Town Council of Municipal Building, hearing be given as of Vail, Colorado, at the Vail hereby ordered that notlce of said by law. the Town and it is requlred TOWN OF VAIrr, COIORADO (TOVyN) (SEAL) -12- Council Menber seconded the motion, and the guestion being upon the approval on first reading of said Ordinance, the roll was called with the following result: Council l,lenbers voting "Yes": Rod Slifer Chuck Anderson Paul Johnson Hermann Stauffer Ronald Todd Gail Wahrlich Bill wilto Council Members voting rrNorr! members of the Town Council present having voted in favor of the approval on first reading of the Ordinance, the llayor thereupon declared the Ordinance duly approved on first reading and directed that the Ordinance be published once in full in The VaiI Trailr a nenspaper of general circulation within the Town, in its issue of ilanuary L4, 1993. -14 - (, READ, AMENDED, FINALLY AND ORDERED PUBLISHED ONCE of February, 1983. (r (, ADOPTED ON SECOND READING AS AMENDBD, AGAIN IN EULI., AS MENDED this 8it' aay TOWN OF VAIL, COI,ORADO (rowN) (sEAL) 'ATTESTT -r3- Thereupon, after consideration of other business to cone before the Town Council, the meeting was adjourned. of Vail, Colorado (ro?vN) (SEAL) ATIEST: Town of Vail, Colorado ,lf -If- (_,,( STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAII The Town Council of the Town of Vail, Colorado, met in special session at the Vail Municipal Building, Vail, Colorado, the regurar rneeting place thereof, on Tuesday, the 25th day of ' January, 1983, at the hour of l:00 p.rn. The folrowing members of the Town councir were presents l,[ayor: Rod Slif er Council Members: Chuck Anderson PauI .lohnson Hermann Stauffer Ronald Todd Gail Wahrlich BiIl Witto The following nenbers of the Town Council were absenr: ss. t,,..7' The following persons were also present: Town Manager: Richard Caplan Town Attorney: Lahrrence A. Eskwith Town Clerk: Colleen M. Kline The Town clerk declared that she had carled this special neeting on the written reguest of the Mayor and that at least forty-eight (48) hours prior to this neeting she had caused -16 - (r written notice thereof to be served personally on each Council Ivlember or left at his or her usual place of residence and to be posted in two (2) public places within the Town. Thereupon the following proceedings, among others, were had and taken: The Mayor informed the Town Council that Ordinance No. 1, Series of I983, which was introduced, read, approved on first reading and ordered published at a regular meeting of the Town Council held on January 4, 1983, was duly published in full in The Vail Trail, a newspaper of general circulation in the Town, in its issue of January 14, 1983r EDd that the publisherrs affidavit of said publication is now on file in the office of the Town C1erk. Copies of the Ordinance were nade available to the Council and to the public. Council Member then read sa id Ordinance by its title. The Mayor then declared that this was the time and place for a public hearing on the Ordinance and the meeting h,as then opened for such purpose. Thereupon the following persons appeared: (fndicate name and substance of remarks.) -L7 - (, Thereupon, all persons having been given an opportunity to speak, the hearing was declared closed. Thereupon, Council lrtember Ur' l' rnoved that consideration of Ordinance No. l, Series of 1993, on second reading be deferred until the regular meeting of the councir on February t, tgag. Council Menber \'' I seconded the notion, and the question being upon the deferral of consideration of said Ordinance on second reading, the ro11 was called with the following result: Council Members voting 'Yes": Rod Slifer Chuck Anderson Paul Johnson Hermann Stauffer Ronald Todd Gail Wahrlich 8ill Wilto Council Members voting nNors lU'(- Iuembers of the Council present having voted in favor of the motion, the Mayor thereupon declared the same duly passed. -18 - -rL, Thereupon, before the Town (TOWN) (sEAr,) ATTEST: Tonn Town after consideration of Council, t,he meeting other business was adjourned. C to come Colorado Town of Vail, Colorado of VaiI, -19 - (( STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL ss. The Town Council of the Town of Vail, Colorador met in regular session at the Vail l,tunicipal Buildlng' ValI, Colorado, the regular neeting place thereof r on Tu€Etdayr the 1t.Laay oe February, 1983' at the hour of ?O0 p.n. The following nenbers of the Toun Council were present: l.[ayor: Rod Sllfer . Council Dtembers: Chuck Andergon Paul ilohnEon Eermann Stauffer ., Ronald Todd Gail lfahrlich Bill Wilto The following menbers of the Town Council were absent: The following persons nere also present: Totrn Manager3 Richard Caplan Town Director of Finance: Vlillian Pyka Town Attorney: Lalrrence A. Eskwith Town Clerk: " Colleen M. Kline Thereupon the following proceedings, anong others, were had and takenl s trr ,i! ? rFr -20- ( The Mayor Ordinance No. deferred until informed the Town Council that consideration of I, Series of 1983, on second reading had been this date. Copies of the Ordinance were made available to the Council and to the public. Council Member llzz then read said Ordinance by its title. Thereupon, Council Member - \/ ' noved that Ordinance No. l, Series of 1983, be arrended as follows: Subsection E.) of Section I to read as follows: E.) Schenatic design plans have been dulypresented to the Town Council for the inprovementsproposed to be construc.ted and installed, whichgenerally include replacing paving in najor areas of the LionsHead Mall, relocating planting areas, providing nertfocal points of interest, unifying and upgrading utilitysystems, providing emergency access to aLI areas of theMal1, installing a nen lighting system and street lightsfor the surroundj.ng area, benches, kiosks, planters,bicycle racks, drinking fountains, and other arnenitiessuch as a nater feature and/or a sculpture plazar andgenerally improving the aesthetic guality of the Mall and the surrounding area. Said plans conform to goodarchitectural standards and practices and areappropriate for the LionsHead lla11 area. The schemati.c design plans presented are hereby deemed satisfactory. Subsection F.) of Section 1 to read as follows: F. ) The improvements to be constructed andinstalled are special and local- improvements which alsoconfer general benefits upon the Town. It is thereforeappropriate that the general public share in a portion of the cost of the improvements. The total estimatedcost of the irnprovements is $J.{0Q.QQQ.^-, Tbe_ -pqr_lion ofthe cost of thl improvenents/88%6ed&ffig Ffpg88efown shall not exceed $1r600r000. The portion of the cost ofthe improvements to be defrayed by special assessmentsagainst affected properties specially benefited shallnot exceed $I,000r000. Said cost estimate andapportionnent are satisfactory and reasonable in every respecE. -2L- C Subsection E.) of Section 2 to reaci as follows: E.) The schematic designs for the improvemenrs arehereby approved; however, detailed design fray be subjectto modifications which could be imposed due Lo theamount of t.he resources available from the bondproceeds. The construction and installation of theimprovenents within the Dist,rict as shown by saidpreliminary plans are hereby authorized and ordered. Subsection F.) of Sect.ion 2 to read as follows: F.) Upon authorization of the voters of the Town,the Town wiII pay up to $1r600,000 of the cost-oiconstructing and installing t.he improvements. The Townwill pay any part of the project cost which exceeds theestimated cost of constructing and installing theimprovements subject to the availabirity of p.o"""a"from the bonds. Subsection R.) of Section 2 to read as follows: R.) The limitarion period of rhirry (30) dayswithin which suits or actions regarding tnis-o.aiirun..must be brought, as set forth in Titl_e 20 of the VaiLCode, will cornmence to run on Feburary g, 19g3. A new Subsection T.) of Section 2 to read as follows: T. ) Based upon objections and rernonstrancespresented at the public hearing held November 30, L9g2,and further discussed and considered by the Town councilthereafter and in_reriance upon a writlen opinion of Mr.John J. Wallace of Larry Srnith e Cornpany Ltb.supplernenting testinony given aE the puotic hearing heldNovernber 30, L982, the Town Council deterrnines that anyprovision of this Ordinance to the contrarynotwithstanding (r) the bus sherter to hav6 been locatednear the west entry to the LionsHead r4all shall not beconstructed or installed as.a part of this speciar andlocal improvement projectt (2) the distan"."'u".J-indetermining the assessnents to be levied againstproperties in the VaiI Spar The Mark, enziin Lodge,Enzian - Buildi.ng A, Enzian - Building Br and Vait Ctocomplexes shall therefore be recalculicea accorJingty;and (3) Exhibits A and B atrached hereto shall berevised as required by the foregoing. Council Member guestion being upon was called with the seconded the motion, and the of said Ordinance, the roll following result: ndment - zz- ( ttYestt: (t Council Members voting Rod Slifer Chuck Anderson Paul Johnson Hermann Stauffer Ronald Todd Gail Wahrlich Bill wilto Council Menbers voting rrNo": Menbers of the amendmentt duly passed. Council present Mayor thereuPon having voted in declared the the thefavor of amendment of Ordinance No. 1, Thereupon, Council lvlember ( / noved the final adoption Council t'lember guestion being upon Lh/final adoption of said ordinance as arnended, the roll was called with the following result: Council Menbers voting "Yes":Rod Slifer Chuck Anderson Paul Johnson Hernann Stauffer Ronald Todd Gail Wahrlich BilI wilto Council Members voting rrNo": Series of 1983, as amended. seconded the motion, and the -23- (r memberg of the Council having voted in favor of the final adoption of Ordinance No. I, Serles of I983r as amended, the l4ayor thereupon declared said Ordinance duly adopted as amended and directed that the Ordinance be published once again in full as amended ln The Vail Trallr 8 Dawapaper of general circulation in the Town, in its lseue of February 11, r983. Thereupon, after consideration of other business to come before the Town Council, the meeting nas adjourned. '(towlr) (SEAL) ATTEST ( Tonn erof Vail, Colorado -24- C (i Exhibit A (Attach description of properties to be assessed ano schedule of assessments. ) -25- -.:, (_( STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL ss. I, Colleen M. Kline, the Toh,n Clerk of the Town of Vail, Colorado, do hereby certify that the attached copy of Ordinance No. 1, Series of 1983r is a true and correct copyt that said Ordinance was introducedr r€adr and approved on first reading by the Town Council at a regular meeting thereof held at the Vail Municipal Building, the regular metting place of the Town Council, on Tuesday, the 4th day of January, 1983; that said Ordinance was read, amendedr dnd finally adopted as amended on second reading by the Town Council at a regular neeting thereof held at the Vail ltunicipal Building, the regular meeting place of the Tovrn Council, on Tuesday, the lst day of February, 1983; that said Ordinance has been duly executed and authenticated by the signatures of the Mayor of the Town of Vail and myself, as Town Clerk of the Tohrn, sealed with the seal of the Town, and numbered and recorded in the official records of the Town kept for that purpose in rny office; and that said Ordinance was duly published as reguired by law, as evidenced by the affidavits of publication attached hereto at pages 29 and 30. I further certify that the foregoing pages I through 26, inclusive, constitute a true and correct copy of the record of the proceedings of the Toh,n Council at its regular and special rneetings of January 4, 19831 January 25, L983, and February land 8, 1983, respectively, insofar as said proceedings relate to said ( -27 - =,;t Code No. 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 1E 17 1B 19 20 21 22 23 24 25 26. 27 28 29 30 31 32 Project Vai I Spa The Mark Enzian Lodge Enzian - Building A Enzian - Building B Vai I Glo Concert Hall Plaza Montaneros Lion Square North Lion Square I Lion Square II Lion Square III Antlers Landmark Landmark Townhouses Vantage Point I Vantage Point II Sunbi rd Ticket Booth Gondola - TerminalLift House Lions Pride LionsHead Arcade LionsHead Center Vai I 21 Treetops - Building A Treetops - Building B . Vail Lionsllead Condos Lodge at LionsHead II Lodge at LionsHead IIIFirst Westwind Auxiliary Building EXHIBIT B CONTINUED DISTqNCE FACTOR VAIL LIONSHEAD IMPROVEMINT DISTRICT tIISTANCE BENEFIT I-:ACTORS Distance Benefit Factor Distance From l4ajcr Improvements (In Feet) 762 522 444 390 426 306 0 0 180 156 300 276 456 0 108 258 228 0 0 0 0 0 0 0.0 108 150 270 408 588 96 162 0.0110 0.0818 0.1388 0.1936 0.1556 0.3078 1.0000 1.0000 0.5486 0.6030 0.3174 0.3576 0.1286 | .0000 0.7188 0.3898 0.4472 .0000 .0000 .0000 .0000 1.0000 .0000 .0000 .0000 0.7188 0.6170 0.3682 0.1738 0.0500 0.7490 0.5892 15 lanny rmirk & corrpariy lrd. 7,-: (, EXHIBIT B The assessment for each individual property is based on the benefits derived by that property and is based upon the property's gross floor area, adjusted for distance, property use and mal'l frontage and is calculated based on the following formula: Ap=YxA EY Where Ap = individual assessment A = tota] assessment EY = sum of all the Y,s Y =PxDxU Where: P = square footage of individual property D = distance factor U = use factor The use factors are as fo'l'lows: Residential = l r ' i, Cunmercia'l not on mall = 1.25-20- Cqnmercia'l 1/2 floor above or below nnll = '1.875 Ccmmercial on mall = 2.5 Distance factors are on continuing page, e; (('t Exhibit B (Attach description of method of apportioning assessnents.) -26- =, STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL ss. (Attach affidavit of publication in full of Ordinance anci notice of puolic hearing thereon.) -29- a, C(C Ordinance; that said proceedings were duly had and takqn; that the meetings lrere duly held; that the persons were present at said meetings as therein ghowni and that notice of the special meeting held ,fanuary 25, 1983, was delivered and posted as therein recited. IN WITNESS WHEREOF, I rtdv€ hereunto set my hand and the seal of the Town of Vail, cotorado, wis -,{aay ot 7A4td4, , 1993. (rowN) (SEAL)rkVail, Colorado -28- STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL >5. (Attach affidavit of publication in full of Ordinance as amended. ) -30- FI = | lrl -t rr) iO|rtG) r\ q E, \g(t) qO (r1 t') (Y) r.O (t (v? q?, c?, r..' rr) r() (Yt tr) r.r, @ - rl) rO iO a4 - (Y) F(Y)u.ru.,Ag i : i I 1 : t ! 1 I i *. ^t ": ^: q.t ^: ^t ^t ": "t': \ a 1 { : "': q q \ e 1 I \ ": q!', =I Y? \ y? :t t4 co or \q g? S'! 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(.)" co-<troro(r)\or.osfro O()-f(r)rrr(r)FFfC)siF?-Nf\t.\NFCDON CO m (t\ (:\ .r1 C, OJ a\ O ol\9OOr-)\.)._c'O.-Oooc)c)c:!ocrooo ) f tFsr/:ilf;;;""" o Proiect Name: Projecl DescriPtion: Owner Address and Phone: Architect Address and Phone: Legal DescriPtion: Lot Block Filing Zone: Zoning Approved: @4p, APPR''AL Deslgn Review Board ,/, o"t" S /b,/ DISAPPBOVAL ( '4 ' 'lwodJ Chief Buildin! Official I :, 't:-- rF- Project Application / - f / Proiect Nam€: Proiect Descriplion: Owner Address and Phone: Architect Address and Phone: Legal D€scription: Lot Block Filing Zone: Zoning Approvecl: Deslgn Review Board (/- - z;l-," /,,-.=/u/ Motion by: Seconded by: APPROVAL DISAPPROVAL (p Project APPlication z,-r/ Project Nam€: Proiect OescriPtion: Owner Address and Phon€: Architect Address and Phone: Legal Description: Lot ' Block .- ' Filing Zone: Zoning APProved: Design Review Board Motion bY: o^r" y'-z?-f/ DISAPPROVAL Seconded bY: APPROVAL w {Pern'4t' ' 't .'ti-i.' rJr "s Project Appllcation fr Date Owner Address and Phone: 1,i,i:/',,, Archiiect Address and Phone: Legal Description: Lot Block Filing Zonel Zoning Approved: , t/-\ |l,"J*'I 'i trrq .-.Deslgn Review Board h'1ol,,, - Summary: ),2,y'1. | ,\ &, 4r'^ f E'-.-c-.<lv--:fr o i Chief Building Off icial INSPECTION REQUESTPERMIT NUMBER OF PROJECT DATE READY FOR LOCATION: INSPECTION: I NAME MON CALLEB TUES WED THUR FRI AM PM OWN OF VAIL tr tr tr tr tr tr tr FOOTINGS / STEEL FOUNDATION / STEEL ROOF & SHEER PLYWOOD NAILING tr GAS P]PING tr POOL/H.TUB tr EXHAUST HOODS tr CONOUIT tr SUPPLY AIR t APPROVED COFREGTIONS: B DISAPPROVED tr REINSPECTION REOUIRED .. ,'f . -/" '/ fNSPECTOR, -: r -' .' "// ;:"/&,f t' ,,/ ,,,m DATE Project Application Project Name: Prolect Description: Contact Person and Phone Owner, Address and Phone: Architect, Address and Phone: Legal Description: Lot Comments: Design Review Board Date Motion by: Seconded I-tDy: DISAPPROVAL F=<trZ_ f-t /,,4L-- t_/rl r'A5++ Sum mary: L-O<,ts 'f'o4 CSr:. *tJ-t&lFF4- ,4t ntm la * , L..r:rtyt ,4L,'-- ttJ lTlJ t"-, tlqL- 06'l.4tL-3 L,A t\tOS., /t') fr::- nf | ('/+'T 'rF ,..t4'*t-! tb- {- I I E Statt Approval luwn 75 south tronlage road vall, colorado 81657 (303) 476-7000 olflce of communlty developmenl LIONSHEAD MALL RECONSTRUCTION In November 1984 the Lionshead Mall reconstruct'ion was completed. Thisproject was extensive and included a complete new iighting system (a1so new walks and lights along the perimeter of Lionshead), removal of 12,000 yards of stamped concrete which was then repiaced with approximately 100,000 square feet of concrete pavers, complete renovation ofdrains and catch basins, the rerouting of pedestrians, installation of rockplanters,_new landscaping and benches, reworking of staircases and railings,the installation of a water feature with cascading water and fountain, the construction of a life size sculpture, construction of four information centers, one of which is mannedn and installation of flags in three areas. The financing of the mall totals $2,563,000. The Town of Vail's portion through General 0b1 igation Bonds..amo0nts to g'l ,600,000, and the Lionsheadproperty owners' share amounts to $963,000. Financial assessmentswere calculated on the basis of the proxim{ty of the property to majorfocal points in the L:ionshead mall. @ UFE&CA'STALTY Date this Notice Mailed Sept. 23, 1985 Bond No. 19 SB 078611 BCA Amount of Bond$ 1.680.000.00 Date of Bond 2-29-84 Name of Principal Randall and Blaker Inc- Description of Contract All work described in o CONTRACT STATUS REPORT THE ATNA CISTilTV AND SURETY COMPANY Hortford, Conneclicut 06'l l5 -.l ADDRESS YOUR REPLY TO aETI{A c{$uAtw r} fllannr al1 P.CI. .-: DEIIVEA" CO dit;tzdfor Vail Lionshead Mall' Vail' C0.said contract Address Littleton, Colorado f,oo. of VaiL Building Dept. 75 S. Frontage Road '- Vailr C0 81657 According to our records, Kindly furnish particulars contract for which indicated below. above bond was given should be completed about Yours truly, THE ETNA CASUALTY AND SURETY COMPANY Nora O. Garza, 1.680.000.00 Total Contract Total $ Price $ Total $ Amount of Conttact Uncompleted $ By PARTICULARS REQUESTED Original Contract Price $ Additions to Contract S Deductions from Contract S Payments received to date . $ Earned Estimates due , $ Retained Percentage Withheld $ If Contract If Contract Not Completed, probable date of Completion is Cornpleted, please state Date of Acceptance Remarks Date 19_.It is understood that the information contained herein is furnished as a matter of courtesy for the confidential use of the surety and is merely an expression of opioion. It is also agreed that in furnishing this ioformation, no guaranty or warranty of acculacy o! cotreccness is made aod no responsibility is assumed as a result of reliance by the surety, whether such information is furoished by the owner or by an architect or engineer as the agent of the owner. Owner: By: Title: c Ar. 449t 13 PRINTED IN L].S.A..(g-69C-M) 6-77 The language of this form is acceptable to the SAA. Mr. Ron Phillips Manager Town of Vail 75 South Frontage RoadVai1, Colorado 81657 Dear Ron: On August 20, the LionsHead Business Association met todiscuss the disposition of the unexpended funds in the LionsHead Improvement District. Attending were Packy Walker of the Lift House Lodge,J.D. Griffin of Cabbages & Kings, Kim Duicik of Antlers,Jeff Wright of Landmark, Steve Patterson with the Town ofVail, Rob Deluca of Currents Jewelers and Joe Macy of VailAssociates. The group decided on the following priorities listed inorder of importance: 1) $101000 for general items such as bike racks, garbage cans, plastic caps on hand rails, directions replacement,etc. 2) $62'500 for pavers in the gondola maze area, southwestof LionsHead Center and for planters. 3) $5,000 for additional lighting in the West Day Lot area. 4) $7,500 for additional lighting in west LionsHead betweenLions Square and the Mark. 5) $5,000 for additional landscaping. 6) $101000 for additional rock work. Total $100,000 We feel that the remainder of the unexpended funds should go towards the repairs of the LionsHbad parkingstructure. Mr. Ron Phillips August 21, 1985 Page Two Association menbers are presently obtaining petitionsin support of our decision. _ We request that this item be placed on the aqenda forthe Town of Vair councir work session on August zi, tgas. Sincerely, n t.. R-"{ S) **Li: Bud Benedict LionsHead Businese Association BB/kL %rffi, frrr^& Ausust zt ' t985,-+ a-;**l z gft-Z C'"---l'l't"*7Mr. Ron Phillips Manager Town of Vail 75 South Frontage RoadVail, Colorado 81657 Dear Ron: On August 20, the LionsHead Business Association met todiscuss the disposition of the unexpended funds in the LionsHead fmprovement District. Attending were Packy Walker of the Lift House Lodge,J.D. Griffin of Cabbages & Kings, Kim Duicik of Antlers,Jeff Wright of Landmark, Steve Patterson with the Town ofVail, Rob Deluca of Currents Jewelers and Joe Macv of VailAssociates. The group decided. on the following priorities listed inorder of importance ! I) $10,000 for general items such as bike racks, garbagecans, plastic caps on hand rails, direcetc. .t/t/ -z- 2 :ans, plastic caps on hand rails, dLrec@6/t replacement,rtc' ) .\ L. ,,t//..-r/*-.42"".2r;^lpl ,///w, lalz- E</ $621500 for pavers in the gond.ola maze area, southwestof LionsHead Center and for planters. $5,000 for additional lighting in the West Day Lot area. -r4) $7,500 for additional lighting in west LionsHead between. Lions Square and the Mark. 5) $5,000 for additional landscaping. 6) S10,000 for additional rock work. Total $100,000 the remainder of the unexpended fundsthe repairs of the LionsHlad parking We feel that shoulcl go towards structure. ({;/ // ^Jt , k)Zl.'/*'z l,!r. Ron Phillips August 21, 1985 Page Two Association members are presentry obtaining petitionsin support of our decision. We request that this item be placed on the aqenda forthe Town of Vail_ Council work session on August Zi, tgAS. Sincerely, Bud Benedict LionsHead Business Association BB/KL .-| Proiect Name: Project Application proiecroescripn""' FtXl\L F-lrVt6'^I"'' OF OFmtt*S' Contact Person and Phone Owner, Address and Phone: Architeci, Addr€ss and Phone: Legal Description: Lot Block Filing Zone - Comments: Design Review Board Date Motionby: 0',lt ' " , Seconded by: E statt Approval 75 3outh t.ontage road YEll, colorado 81652 (303) 476-7000 ottlco of oommunlty dovelopmcnt November 18, .|983 Ron Liston Land Design Partnership P- 0. Box 517 Glenwood Springs, Co. 81602 Re: Lionshead Improvement Districtfinal review of details Dear Mr. Liston, 0n November 16, 1983, the Design Review Board recommended approval of thed_e;jsn of the Ljonshead Improv6ment District to the TJwn colnoit with thefo1 I owi ng - sti pul at'i ons : l. Trees that can be saved, shall be saved by relocat.ing plant materialson or off site. ?. Two planters, one adjacent to Cookie Company and the other adjacent tothe bus stop should be revised; more veriicil elements should-be iaaea. Si ncerely, CC: Jim Sayre Design Review Board Town of Vail 75 South Frontage RoadVail, Colorado, 81657 Dick Ryan Rich Caplin JS/rme COPYFIL E 75 South Frontage Road Vail, Colorodo 81657 t 0 t -479 -2 r t I / 47 9-21 3 I D e p artm e n t of Commanity D eu c lopm e nt September 15, 1992 Mr. Joe Macy Vail Associates PO Box 7 Vail, Colorado 81657 RE: Condlllons of approval rcgardlng the varlance and condltlonal use request for the Llonshead Base Area. Dear Joe: The PEC approved your variance and conditional use request for the magic carpet at the Lionshead Base Area on September 14,'1992. Jetf Bowen made the motion and Kathy Langenwalter provided the second, and the Planning Commission approved the request with a 4-0 vote. The conditions of approval which were placed on the proposal are as follows: 1. The applicant shall provide a regrading plan of the area for staff and DRB review and approval. The grading plan should address the pedestrian skier bridge, ensuring that access to that bridge is not blocked by any of the regrading plan. All grades shall be less than 2:1 slope. The grading plan shall be redesigned so that the ground is flush with the conveyor belt on the north side of the lift. 2. The applicant shall provide written approval from all utility companies, stialing that the proposal is not in conflict with any use of the easement. 3. The applicant shall apply material to the side of the magic carpet other than 'indoor- outdoor'carpeting. The materialto be used on the side shall be approved by DRB. The PEC recommends a material such as cedar siding, if it would allow proper maintenance and operation of the lift. t' r. Mr. Joe Macy Page Two September 15, 1992 4. The applicant shall revegetate the ground, up to the east side of the Chalr 8 termlnal, prior to the operation of the lift. Please call me, Joe, if you have any questions about these conditions. Thank you for your cooperation on these projects. Sincerely, ^M^&/A-\-Town Planner |l|dttldl.lr\m.t gl6 ,\ I too l ( \J \1- \ Y \ t \ \\oN\ \ \ \ \ w *tr\ "1 l \a\ \ \\ \)N{\\sv\\a\Ftlt\ t --\ 'l { \a \\_f,A J\7\ ('(-\a\\/ti \- \l \ t-r2 lr' 19 20 21 24 276 456 0 t06 258 228 0 12 13 14 l5 18 17 l8 0.3576 0.1286 1.q)00 0.7r88 0.3898 o.4472 r.oo00 r08 150 270 408 548 96 r62 2A 2S 30 3l 32 0.7r88 0.8r70 0.36E2 0.1738 0.05{n 0.749o 0.5892 Shall bo rll lhg r9ll propeny d6lcrlb6d on Exi*Dit A ttl.ciod hor.to. E /lhe schamrtic design! tor the impiovamantt ale hargby rpprov€d, ho\[€v6r. d€dilod d6i9n m.y be r uibtdit to modific.tionr mich could ba lmDoaed du€ to th€ lmount ol the rcaou.cos avalliblo lrom tho bond Droca€dgrnd th! contt.uctlon and installatidn ot tho irnprcvernsnt! wilhin the Obt.ict a3 aho{n by arid prcllminery plan8 ere her€by autho.llod and ordored. F. uoon autho.izltion of th€ vot€.3 of th6 To*fl, th€ Town wrll pry Sr.600,@0 ol lh6 coslol conal ru cl In o and in 3lalll no th€ improvornont! In r-d<lition, rhe Toum w-ill pry any pa.l ot lho prolect co3l which 6xcodg lh€ _ €€timriod cosl ol constflrcling rnd in8ldling Jlthe imp.ovomanb Sublact to the availability olIproco€ds trom tha bonds.!7 G. Th€ lown Council hr! dslehinod, rnd dge! haraby detgrmino, lhtt !3s6$mont3 !h!ll bo lsviod lgainll tho rft€cted prop€rty in iha Dist.icl (lh€ p.openy.p€dally bonofitod by tho improvomsnta lhor€{n) according to the m€thod d€acrlbod In Exhibit g attached horeto. H. Afto. con8id6.ing lll ol lhe oircum3lancor €xbtino withln lh6 Orstrict end wslghlng th€ f.cto.r sDocihgd In Tltle 20 ol th. vrrl Code. th€ Town Coucnil hrs determinod, end do6!h€r€by dalefmlne, ttral oaid melhod ol a89€6amonl F r lrlr and €quitabl€ m€thod, rnd thrt guch a$€lamgnlsshall b€ in paoportion tothd Boocl.l benetils co.rf€r.6d uoon auch proporty. auflici€nt lo covd ths porlio.l ot the tolal coat ot th6 lmpaovomonts to b0 d€keyedby spocitl 6laaasm6nls; lho assoglmgnt amounta ap9oalionod thoreto shall bs in propo.tion lo lhe t9€clal b€nollls coni6rrod upon 36id propartis! !r d9t6rmined by lh6Town Council: lnd !a e r€sult ol lh6 imorovem€nt8 to be constructed and {netall6d within th6 Dittrict 6ach such proporty rvill r€c€iv€ e 3p€ci5l benelit, Including wilhout lloilation incroaFd markol vdlua. inrnamounl which ahall 6qurl or 6rc6ed lho mtximum amount ol th€ prrticular asg€3ment to beas3a!6ad lgrlnll each such proporlyi €rccordingly. said melhod of alscasmont rs h*oby approved. c$;t$rd'uirru*'trjr'qlil a6s€Bs6d aE h6rlln dBcribed, 6nd rlt6r nolio€ theraot anc, 6 haarlng lhetoupon, alagsamsnti shall be lrviod by ordinancg ot ih6 Town Council. tho method of !3sossment oaovidod to. herern 3hellb€ uled 6nd lollowed 6i th6lirnosuch alaag8ments aae so l€viod. Said assosstlenl shrll b€ a lron unttl paid In lh6 serre.al amciunt3 as36ssad againsl each such propeny. J. Th€ Town Council, in addition to thogxD.ass d€terminations herelnabove set lorth, by lhe adoption ol this Ordinance, overrulesall oth€a obi€ctiont and Gmonstranc€g lhat may' havg b€gn madt, oither in writing or orrlly!lthe public h6aring K. All asgsatmenti shEll b€ due end payEble I rvalhout demand wilhin thiny (30) daya rtter I O;iift.rT:?:llirhm#3t1"ffi {{rfl $\ Essessfanls lo pay Such asSossmonts on an Jin3trllmqll brgis nol lo €xceed a tifi9en {15} | year p€.iod with idterost oot to 6xce€d 3ix6en Ipercenl (16qt) pgr annum and nol loss lhan the Ihi9he6t inlora6t 16l€ on any spacial ass6ssm6nl Ibonds llsu€d lo ply the cost ot th6 |improv6ment8. Interesi shall be computod on I lh€ outrrrndin9 princip8l and 3hell ba paid wllh each lnslelkn6nl. Seld lnsle llm€nt Bchedu l6 and merimum inierest rltg lro h9r6by Npproved. I L. Th€ as3gi3m€nt3 to b€ levred against th€ iElfeclod prop€rties 6hall nol oxceod the J : attt€ssnont Anpuntr orovided in Erhibil 4,,/ allach€d hor€to. M. The propoo6d as6essmont schoduls. h€roby approved by th€ Town Council. ia as shorn on Exhibii A tttrched hrrsto. N. Pur3uant to the l6ws ol th€ Slat6 of Colo6do. tho Chart6r. and Titla 20 of tho Vail Code. so€cial ar8latm€nt bonds ol th. Town shall her6rft6r be lsgued lor the purgq3a of paying for the rmprCr€monts d€scnbod In this Ordlnanc€, In an amount not to oxca€d thecost aEd €xpan963 ot said improvamont3, includlng engin66rin9, laCll 6nd incid€ntal cosls, a9 p.ovided by lrw. The bonds thall be irsued b.s€d upon .ltimrles 6pprov.d by th€ Town Council and aa aulhoftzgd by an O.dinance lo bc mssrff by tha town councrlat e |rlor d!t€. Tho ntlxlmu|n nel elf€alit€ int€.eat ruie on 3uch spoclall3t6sment bonds issirteon (1695) percont pd annun. Th6 bonds rnd lhe inl6.ost lhe.eon shall bo payable out ol tha 6p6cirl asa€86mant! authodzed h€roin to be lovlod rollngt tho €al prop€rly Includod wlthlo the District and lpocially bonefitod by the lmorcvomonl3 lo be coant.ucled ar|d lostrll€d. O. Th! otflc6a! al lh€ TovJn aro h6roby ruthorizod and dlJtctod to tak6 dl aclion necas!ry or appoprirte to etLcutlle tho provislons ol lhi! Ordlnrnco. P. All otdinaacai oa r$olutions. or Darls thsr€or, in contlict with thb Ordinanco lao hefsby.spaaled. Thi8.€poale. shall nol b€ coastruad to r6viva 6ny ordinan@ oa prat ol rny ordinanco heratofoao lepsaled.Q. ll any saction. pa.lgreph. cl rui€ orprovition ot thl3 Onlinlncolhall lo. any,aaSon hgld lo b€ Invalld or uneolgrc€ablo. tha kwtlldity oa ufionforcaabllity ol ouch lcction,prragraph. clallo or provblon shall not aflrctlny ot thc r.|naining p.oviliona of thi3 Chdlnrnca. R. Tho lidribtion pa.iod ol lhi.ty (301 dryt within whbh artta or .clionr raglrdino thi! Ordinar'rca mrll be baoughl e! $l lorth in Titta 20 ol tht Vril Codo, will cornh6.lca lo .rrt on Oocdiba. 17, le€2.3. Thr Tow. Cosncal lind! lhlt $iafrlnlJ|ca b alc€a{ry to rnd for tho bancllt ot tho puulc k lrtlt lnd lhg oublla hlrllh, tdrty rnd w6lhr!. INTROOUCEO. NEAO. APPNOVEO ON FIRST N€AOINO ANO OROEFED PUBLISHED OnrcE lN FULL thb ,0i dry ot Jrnu.ry, 1g€3 rnd I Aruic holriaE on thb Ordinlnca ahd I ba held on th. 17th dty of O,rc€rnb€r. 108i1rl gg) a.m. at a a9a<ial |h.dlng of tha Tow'r COurCil of th6 To*n ol vdl Colorrdo rt ttr. vril Muiiciprl Bu ilding. ar|d it l. h.r.by o.d.r!d fr.l nolica of$irl halrl.rg b! glvln !a 'lqei..d by lau. AITEST: Coll€sn M. Kllrlo Toun Cl.tt Puuilh€d in Th€ vait T'.tl on Janurry 7, 19Eil INIRODUCEO. R€AO. APPROVEO ON FIBST NEAOING ANO ORDEREO PUELISHEO OIICE lN FULL. lhi!,tlh day ol Jrnuary, 19E3, arr(' ! parblic haadm on thi! Ordinlnco lhrll bc h.ld on Tu€!d.y. lh€ 8th d.y ol February, 1983 at 2$0 p.m. rl i R6gular conthu6d m€otng ol th€ Town Courcilof lha fown ofVail, Colorado.l lhr Vtll Municrp.l Burlding and lt is horeby o.dorod lh noti@ ot srid hoaring bo oivan t3 aBqulaEd by la*, TOWN OF VAIL. COLOFADO Rddney E. Slller Mavoa ATT€ST: Colls€.r M. Klin Town Clork SIATE OF COLORAOO ) COUNTY OF EAGLE i TOWN OF VA|L ) Th€ Tovrn Council ot th€ Town ol Vrll, Colo..do. mat In rleulaa conhnu€d r€aion !t lh€ Vlil Murlclprl guildinO, Vril, Colondo Oro r€gular r!6linC plrct drtreof. on Tu€rday, thc 8lh dry of FlbruJy, 1963 .l thc hour ol 2{)0 p.m. Tha Mlvor htonnld th9 Torn Councit thal oonald€ralion ol Ordinlnca No. 1. S€riea of 10{13. on 6€cond rording had boen at€le.r6d untrl this dals. Coor68 of th6 Ordinanco were made evailable lo t|!6 Counciland tolheDlblic.Thseupon, C,ouncil Memb€. Analo.son movsd that Ordinance No. 1, S6ii6sof 19&3, b€ 8m€oded as follo*r: Subsoction E.) ol Soction 1to readaglollowg: E.l Schemalic d€argn planr hav€ be€n duty of.s€nled to th€ Town Council loa th€ impror6ments propoaaal to b€ constructed and InBlalled. which g6norally includg replacing paving in mato. rraat ot th6 LionsHead Mall, rolocatin9 planting r/€ag, provlding now focal points ol inler€at, unltylngand upgred ing ut ility 8ysloms. providing gmorggncy accoss to 6ll er€e5 ol lhe Mall. indalhng r now ftghtrng ayslom end slr6€l l{hla fo. the suroundrno ar64 bench€a, kiork!, planlo6. bicycle r.cks, d.inking lountains aod oth€, rnoniti€€ such !s waler teatuG andlor a acuplturo plaze, ard g€nerally improvino lha telhotic quality of the Mall and th6 rurroundine rrea. Said ptans conlorm to goo{t .rchil6cluari 6landards andpracticos and ar€ approprialE tor lhe LionsHssd Mall rrsr. Tho.ch€matic d6ignpl6nr pro!6n16d !ro heroby doemed Eati8laclory. Subsection F.) of Section 1 tor6ada3follow6: F.) Thg imDrov6minb lo be conttauct€d end instrlled are special 6nd local improvem€nt3 wiich also confor Oonorrl bsn€lils upon lhgTown lt rs thoroto.€ 6ppropriat6 thal th€ gcn6rel public lhera In ! ponion ot the cost ol the improvgment8. Th6 totrl estimated cost ol lhe improvgments b $2,6(X),m0. Tho porlion oltho cGt ol thE imoro\€ment3 8nd relaled oxp€ns€s to be bora€d by the Town shall not sxc€ed S1.600.000. The Dorlioo of the cost ol the improvemsnts to b9 d€frayed by special assclsm€nls againsl altocled prop€rli€i spocixlly benelil€d ihlll not oxceed 91.000,000.Said cosl e8timato end apportionment rrc salislactory aod rga8onabl6 in €very regpect, Subs€clion E.) ol Soclion 2torssd asfollow8:e.) The schematic designs tor tho imp.oyements a.e horeby rpproved; howsver, dEtailed design may be subisct lo modifications which colld be impo66d due to th6 amount ollho r€sources availlble lrom lhe bond proceeds. The condiuctlon end installataon ol lhe improvsment3 wilhin tlre oilricl as rhown by said prelimiilary phna areh€reby:iuthori:od rnd ordered. Subseclion F.) of Secllon 2to read asfollovrsl F.) Upon authorlzation of the votors ol th6 Town. the Town willpay up to $1,6(rc,000 of thecosl ot coEtruclino and inslallino lhe improvemenls. Tho To-wn will pay any lan ol lhe proiecl cost which oxc6od6 the eslimatedcosl of conatrucling and installing the improvemenl3 sirbjocl to th6.vailebllity ol oroce€ds irom lhe bonos Subsection R.) of Section 2lo rgad as lollowsl R ) Th€ limitatron p€fiod ol thrny (30) days vrilhin $hich suitg oa tctions reoardino this Ordlnance must be brouoht. 6s s€ttonh r- Trtle 20 of the Vail Cod6 wrlicommence lo run on Fobrusrv 8. 1983. A new Subseclion T.) ot S€ction 2lo r€ad as lollowsiT.) Bss€d upon objeclions 6nd aemonstrances prer€nlsd !t th6public hearin9 hefd November 30. 1e82. and fuCherdiscus$d lnd.onside.ed by tho Town Council thereafterlnd in relianco ugon a wrillon opinion ol Mr. John J. Wallec€ ot Larry Smith and CompanyLtd. supplementing lorlimony given al th€ pubhc hearing h€ld No6mb€r 30, 1982, the Town Council determlner lhat anv orovasion of thir Ordinenca to the contrary noiwithstanding {l) lhe bus shell€r to hav6 b€€n locat€d near lhe west 6ntrv lo the Lionah€ad Mall ahall nol be construcled or install6d 16 a part ofthis sp€cialand locel improvament proiecti 12) lhe dislances us6d in d€tormining lh€ a5s€asm€nla to be levied against properties in the Vail Spa. Tho Mark, Enzian Lodge, Enzi.n - Building A, Enian - Building B 6nd Vlil Glo complexesshtll ther€lor€ be rocalculated accordingly: and {3) Exhibils A Nnd I dtachod hereto sh|ll bo ravised 6s.oquirad by the loregoing. Council Membor Slaul6r 36conded lho molion, and the queslion boing upon tho am€ndm€nt of 93id Ordinanci, lh6 roll wrs called vrith the following r€3ult: All Members ol the Counc'l pr€B€nl having voled in favor ol lhg amendm€nt, lh€ Mayor thgr€upon doclarod lhe lmendmenl duly pas3€d, Th€reupon, Council M€6b€r Todd moved thg finaledoption otOrdinanc€ No.1, Seri6a lo 198{1, rs am€nd€d. Council Member Staulor 36con<l€d tha mollon, 6nd the qu€ation behg ugon the tinal ldoDtlon ot laid Ordinance a3 amond€d, lhe roll rNla oalled with the tollowing toiu|l: Ali membo's ol lho Council hevrng vol€d in lavor ol tha linal adopton ot Ordinanc€ No. 1, Seri€s ol 1983, !a amonded, the Mayor lh9r.upoa docbrod Sald Ordinanc€ duly ldoDtod .3 qmgnded lnd directod that lh€ Ordinenca bq oubliahod onc€ roain in lull as lm€nded in Tho Vail Tfail. a iewtprper ol generel circultllon In th€ To{n. in ll! lsluo ol Frbru€.v 11. 1983. lhereuDon, att€l conaiddation ol otner budn€ss lo codr6 bafor€ tho Town Council, th6 tnaoling wa! sdiou.nod. TOWfit OF VAtL, COLORAOO Rodney E. Slit.t Mayor ATTEST: Coll€en M. Klin€ Town Cle Publirh6d io th. Vlil Tr.il on Ftb.uary ll. le83 tpltltT B Ths .!!€r!mrnl lor slch indivirtu.l p.op6rty b b.a6d on tha bcoalilr d€riv€d by lhat prope.ly lnd it b$ed upon th. proparty a gro3r floo. t,ga, adiutlad io. didrnca. gropsrty ul6 analnrll trontaC€ lnd h crlculltsd br!€d on lho tollorying lo?muL: Ao oqual3 Y 01,t. EY llmo! a Whg,s Ap aquda lndlvldud t!!6alargnt A aourls total lt!,aaadent EY -ualr ium ol tll tha Y'! Y aquals P thaa O Umca U Whe,e: P equalt tqulrg tooL€|o o{ iidividual F09€ny D 6quala dirtrica fictor U €qu.li ula ttclor. The irso lacto.r a,a 18 tollo{3: Rdklentill aouals 1'Comm€riclt not oat malt €curl! 1.2$20 Commo.icd 1/2 lloor rbovo or bslow m.ll aouat! '1.875 Comm€rical oo mall gqualt 2.5 o6ra,{cE FActoR VAILL|oI{8HEAOn FROVIM!!{? D|a?ntCTD|8TAIrcE IC|.EFIT FAC'Of, 3 6o o o. Vail Spa The Mark The Enalaa Lo<to€ Enzran - Suitdl-nO A En.ian - B|Jildha g Veil Glo Conc6n Hdl A!z! Montan€aoa Lion Squrr€ North Lion Squar6 | Lion Squrro ll 0.o110 0.0818 0.1388 0.1s36 0.15s6 0.3078 1,0000 r.o(no 0.54€6 0.6030 0.3174 EXHIBIT A AAAEAAIvIENT ACHEDULE PRoJFCT/g0lL0lN6: V.il Sr. Co.dont nt un3 Tol,r,l{ oF vArL Eodney €. SliL. 0l9IANC€ fLloi: O.0l r0 ASSFSSoi 5 sC'rrBJLt r0. 0rraR/t6€NT lcu.fonih, S Eor 726, y!ll. C0 81658lda Cor!. N t 0. rtlr, xont. Llblm ralJ, r...dch.l.o. rerico tO OFrr.n6l cor,. ll lm. 7r0 r. rldsn rd c.., v.ir, co 81557rlsh.r Corr. rY 0or 126, vrll. CO 0l6sdld.lr. l. t s,r, aor Sorh so.ldti! 0.., ,3, B&.rtt HrI|r, cr 90?t?3ftr.r. L a L, 0q Z?6. v.ll. CO 816563...5t1n, s.l. a r.t. 950 25th 5r.. 'r.y., |lehiiord. 0c 20037cr4db€llo rY r s. lotber9, lr0 r, UondR.r c.., v. . c0 8t657CeE5t Co 13 lsku.lty Lrf. I rccldent Co, 616 01..!n. o.iy.r, (0 3020?cevcsi co ,! 600 sRuritt uf. 6ldg, 06v... c0 aom?clil.h,0. I S. 8lvd. D€ l! !u:26, rhlco 10, 0r C.3!|b, i.-Ch.rcri, l. lorqu€ 0e ll!llrn r rlTr, ierjco r0 DFC{tr.l f.ite.n ldern'l oox 17788. Nrrsr!. l.hed3 _con.n, l.r. t f.l. 57.5 Ffllr5 Rd, 1r07, sM oiego, ca 9?108o.luo. C.rr xv Bor 7?6, Y!rl. C0 01696D4... Co.D tY Bor 726. y.it. C0 €165aD.lc.i. fi.!.rcto Bor t?6. v!ll. c0 0r65atr.rc.r, rl<h.lrE 30r t?6. vlrl, co 81658l!tGl.l., C.R. S.v.& 01.! l!0. tu d.l.l.ir. tbr!.oF.lct, n,6. tlo r. tlonsh€ad Cr,, Y.tl, C0 81657Ari.rc Prop.rttei t J. 8.6.n. JenttG I Grtcnrtst, 2200 trt N.t't 8..t 3tdq,0.1l.s. Ix 75202 Frrmo, A. t l.T. 8o!q!e 0e lkxt.s@ r&. t. Herr.d!... lFrl.o t0F..fto, i.B. t F- C.rr.rk 0€l C.ttlllo ,5. Lrtco J0 DFG.., l.ld, Bor t26, Y.tl, a0 0r66a C!udl.m. G. I C.R. 5!i 8€iarenturr 1a09, lerico 22 DlG.tl, S,A, t C- Quldrt, vr. r.sr.32, 6901 rug!@. Srltz.rtrnd 6itun, ]|O, Hegel ?16, 3603, rhrico 5 0FN.ltt.d fln.cial Co. r33r llicoln llvd.. S..t! Moni.r. cA 90t01 Hdburtor LS. Bor 726, l.ll, C0 Ala50tlr4k.n. J-4. & c.P. lo!. ce l..er.220, s.n ang,l, r+rtco ?0 0fH.nry. J.l. 4 8,t, il30 6!ik P1.2. St ata, 0dp5s.. Ir 7q762J'nl.n, s, 15. Blr i26. v.ll, @ 31658Lg Prcf ,l Cosultdnt3 Bd 726. v.,1. cO ar653 Th. t€dr Ttust tTit 8390 h.l. f.tch rt, t! Jrlt!. cl s20!7 L.Yln, s. 3or 726. v.rl. c0,1650tlbtun,l,o,,cbnnb.6.x. 30r 726. Y.rl. c0 8r55alor Inr.itmt co ltd t B. o3ulllv.n, 7a5 5th tve. rd ro.k. Nr t0022to.r, n.l.A. D. Cdut€dc 5!.265 s.|ttllo. a6h X€ri.o 00,1!18 ll.ip. CdO llv Av 0. tls Flneks /!, tl€xico r0 Dfo!9t9t fi.ff.3t 1.. 7t0 H. lloishe.d cr, v.ll. c0 a16570092t, r..9olr3,H,-HorfI1.t.r.. ?,10r oeqLlidre srp t,., rddi5oi.erg'r!. rr r80tlm9213 fidml(l, r,r. fIAt t0r3 pobltulr, oen,.r, cl 302?2fi9212 fllre.lj. i. I0.0. $or 7?6, y.ll, C0 6l6a€69??2 H..r.!ted rnreir rr lrujr lJ. orL.rn, tenrjns!Crt rr.t, ?2l0 tsrnlr't Srnr 3ldg,'!l l!r. Ir )5?02 009251 Pduqln InreirEnts rit ! vrrl eookreeprn! t Ac..!nriiq, 5C3 !. Ltoisneld C.,2,llrlt. c0 416570C9166 Ru9Ola.j, C. aor 13t,rlvie Rd, Rr1. al@r, [.j 0331900926? sdrte, J.B, Soeq*r c(irhu.h!. lil, erico rO ca00921t srl.E, J,0, I t.A. San !Ll!rcro 17, rratuchrl:o, &ri.o l0 r009t9t Slr rr...,3 ril/ ;:e.te !. rrr.el. !co. de fertco. rhtrco tO Or0092r9 8e1ru. l.ve31r4ts TrJste;or ?F6?, dredo, rx 13Jj!00S239 S.fchovlch, x. 3rr ,20, vr l, C0 3:658009231 s.l19 co.D n[ 8dr 726, v ] , co 3 659009124 smr spa V t 3r fro.estioh.l Coniull6ils, gox /26, Jdr I, C0 3155a009327 Stu, So! v Bor 126, Y.r I, C0 81653009?12 Soj... Coro ltv Ro 726, ya L C0 3 6t30o925n sd.ou:oa, i. ! {.r, 3;i /16, !.iiL C0 t'553009?21 v.rl ll3 Coro W rr. ,-" ri)has a85.JC1. 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CO 6165t 6t Sqr,l |sslslttrs! g!! !sq!c !qgE_ r cr 2!t.!t 24,2, t Cal.... ad.. Ax| l, rr+.n. H.. aor 0i8. a.ol.Fod, c0 -tlorktt Sl| ao..650 Frr 0tda,. CF.d t.9tdi, a950t I lrlila E. l.l. Pl.. &tur.. C0 S0rr r05 [o3, hri6 l0 ttl.ld, ltl tlr st., 5$ 0t.@, a ,flottia, ao, t, Y.il. C0 91658|fr, ad ,. r.ll. C0 6t63atr. lor t. v!Il. C0 11650 1 a[Eborch, c.l. atAtrlb. J,x.-lll16. J,l. llo.llt .d Ct. aqyt lZtO lrdllllar, t. €n!Lt .ron. C.l. Jr I X.i. S.l!r. J.a. lFl'! f.l l.r Cdr r IJr C! li. tn.3.on lre*d.t! lic l.ll llo.$..{t C.ntE l.l I Llo.rn..d c.nrE stt?,rr0.29 4O ^" rou *u - Februory t t, 1983 - seclion a r? -_a . d,inling tountafi!. rnd o$et -||ntnlir' ind iiiirii' inrcroviru ne r.tthGtb guqlily of or' friii i# ttie .urioundi.rg !r" s'id -pLn' aonlorm to good erchlt€cturrl d!ro'ro! enq #iiriiji - a-tto ero rppropririo tor lho LionsHcad Mlll .r€s. Scf.tndlc d"ign p[n! era horoby da€m€d satlalaqory'- i iiJimo.overnents to bo con.tru6$d 'ndinitrrieu u6 rg6cial rnd local imptov'mrnit . *iifii-il"o ioite, gencral b€nsfn! uPoo lhcii:i"l ti-ii 1*retire .pproprirle th'l th! oine..r iutric rttare ,n 8 ponion ol lho co't ol n:l'nl*:nil" lu.$b.issl'+1"$1ii"i :i iiii JJSi ot tle im provenent! to bo bom' bv tho ii"-"i^-ii ii .'doo.itoo. rns porlion ol lhe cod ol lh imorov€m€nlr lo bl dolrayad Oy !9'clll alscsrinents agarnrt aftagt€d -p'opgnllsiiJJiiiiv-iinet,G? etrall n.t oxc€od 3l '(x)o'000-6iJ irisr estrnate .nd apportionm6nl 6t' i'riitocrorv ino rceaoo.ble in every rolp€ct*i;l Fioi#rties ptopead to bo 6!!43od lbul ^' a'a rn irre vicinltv of ruch impro{om€n|3tno i.irri -tiriltrt |to,i' th6 conltruclion and iniiattition tncreol A!363m'nt! "e lo be ieiii--ueceuse suosrantial sp€cial bon6lrt! will l-"iJn itot tte rmprovemints to.all of tho i-riii.J ilopi n'ee tiimin th€ bounder106ofth€ iiliili]rini.{[speciat lsnelits aro 3€P6rtts and iiiiin":i ii6'i itt6 su""."t b€netir lo th6 Town whi.h will abo r€srJlt therel'om'-'i Tne orooooed asso$menB heuo Deen .letermin€d bi uslnq a m6thod ol allo88menl iii'al6|'muta *ttlctt "pportions lhe colt ot the fii.-o"imi"ti on a taii ind equrtabl€ b65i3 and iiiiiii-i'ea"o."ot" "pportionm€nt con!r3t€nt Jitn-irrt oe;etirs to beb6nlenod Thepropos€d joOOrl,Onrent Ol the cosl and th€ melhoO Or M"li,iijnii"su," e""ry proportv own€r oqual brdteclron and due Proc€3s ol lav''i'-irt"te .4"" b&n vaftd prot€st8 lil6d In accoiiance witrr tne Charler and-Tilla m ol the irit-coae. numberinq &4 The Town Council riils-rnii tne numb€; ol protert! so frle<' ar€ ilii-ri'"^ ilttv oirccnr (so*) of th€ atl€clod li:::lll" ":*ii :m:l"'i+g +:3"'3:': Jl oriv_ consiOereO oach aod evory prolell iiiicron inO remonsuanc€ and dotermin€d irrlj-iinii to t€ wrthout morit, and her€bv m-:1,*;i."":: ;xn'lr':",,*13$'J'Y ff. ii:1 inl-iioiii jn*to r;'o"eed notwit|l!t'nding lhe J-ilii-*iiie ^iatigt'v lor th6 pre!€ftatio^ ol 6e oubtic neatttr' satety and w€lfa'€ and rB In the public inloresl." f..Tiiiown uanager ot h'r d6log6h's-duly h€t ;e€ling3 relating to the imptov€mont! ror i;- ;;;;; ot inlo-rm'ng atioct€d . Prop€rlv iiiinits'sboui tho samr-e and 6boul lh€ iiir'i-"i-metttJ ptopo"ea and lor the putpoio of oblatning thclr roactiong thor€to'-?l eii necegsarv legsl requiromqrt' 'ndco'iorir6ns -pii&o'ent -tot Initlatlon of the :lg*i"J["* *d'"i'T l:? ft:'i",8t:llt Tji; lullv p€dormod mel end latlsrl€<t' gECTION 2. Bestd upon the ebov€ fi nding6 ani''iil'ioitrlonat ftndiirgs ltatod b6l'ow fte . iot- Co.rtclt tlndr' concludo' and otd€l! ta Publlc Notlce onolNAilcEiotNAilcE N(). ta-b. of leA:t fololiias i,,ri"oiction ovor tho Lion!]lo!d rra' *iii l'iiiii,iiio"i.eng are to !,€ mtd'rnd ell Jiiiii itiliffJ p';p"n,e3 d€'crrb6'l on Erhiblr -'d;aa'in-eag A altachod her€to' +nq"'JbHnE5:+ffiiilHilFffi il$d":}1*lll,W*""^l'frr# ffimffiffi*tffffiffiffiffi WHEREAS.purssnttoth.charto.o'$9i-ri.iiovlatitieb.ipptovod.od.conlirmod. #.,#r:i!:fi',1fl idxJ-gs"'"ilx":l:i""'*ll*llx*:'sl'*inr'rg';5iiii -Col,,iil -r'i)o s o-1i. "*'.'lti;il iiiiriiii'iiiiri it'; uoooarry orh' o'r'rct Mvomb€r 30, 1982 r€lating tO lhoCrottrol soecial imirovemcnt diatricl .lor lhe c;nstruction bna inrutlatlon ol cortaio 3pccral iii'iilciil-.bio"e,t-nt! lot he LronlHoad Mall lnd Surrounding 6loet; and ...- ivi-en-Eii. ln6 iown council has considsrad rrre-iiii;oni ano othsr evidoncs prc"nied d iiiia'-r'tiiii"6 ino all conmonts- mad6. bv ii&r"J pro-pcnv o*t*.! 6nd mtmb€rr ol lhe goneril public rolalln9 theroto ",'i,1'.?Bo"ilf'"f;.1?'"l3HlS9?lli!geCTKrl{ l. 863€d oPon atl lho evidonco "fl8x.!":ii l3'!1'13''"i1lo'i11?'. sun"" "reC2. ilti-fown council h.! duly inlti.Ld by ii6-.irii"tc-;.dor tho .pcciai 'nd locsl iririroy.manl groi€cl delcdDeo hsraln' 6. tlotlc€ ol a bubtic ho.rlng thorcon in tho mwxrtg.I1.*lgd]lrv p-ubriltEd rn rh' - t. ii idoi or m ramr nollc€ w.! duly mall€d b all afiodad groporly owna.! al th€ lal tnown iol'Jii oi el!t' i'cti ow"cr .s thown orr th€ l.cod3 ol tha @unty Alldaor or Eagro :1't":ll.:,?fllg3i"lLi'3' g:i'.'r'Hi [n-iaOrtion. ctaps *er€ trk€o by Town dllicllls i6 - arienii. curont owncrs ot ellact€d iiooortrCs rno th€ir rddre!.t rnd .mmptl hado to lu]nbh thsm rllh lctull noltca wa 6fl,11 og51;9 nearlne on rm Foi€ct w'r duly ne-rd 6ir't tovehx i Ol t s62 md tull opponunlty *1.*"'llll'#',,:"lf l"S#'31?'ff 3"?J#ji'E ir' continuod !o lht dat| ol tn|!| meelng -5*"":$'S",f, r1:.il,'"'"lfl :!'YJ) "'Hi i?,i7Jiiii".ii oloi,oreo to bo comkuct'd and i;i6ilia: ihici iensrallv includo r6placlng iil"i'io-iit m"io. a'rrac ot iho Lio.$Hr'd M'll E;itim gtinthg rr..!. p.o,i',ing n€r t'oc'l i*ntr ot iniort. rinlting .nd uPe trdlng ulit'ly ivaiamr. gaovidlnq amaagancy accqll rc 'ltii"il rit -rrc ltdl, inttrlirg . o.r'ldltrc t"n|.t". r aqr|gtl'! plazr' i n'w figmitl{ avrtarn and altan lightt loa ttL u,,,ouro|flg ;;. b.;ah-. tiocri, ptrntro' ucvor irclq